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Author Topic: What do you need in A Cryptocurrency Exchange ?!  (Read 772 times)
Reid
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February 22, 2019, 01:52:08 AM
 #21

Trustworthy, events and of course low transaction fee.
I want my coins in and out. I want freedom just so I could comfortable and not think of an exchange just going down because of a bad reason.

Mostly they are getting bankrupt or they are just pure evil.
I dont feel safe in any exchange and that is why it will be better if the fees are so low. It will also be better for them since they are getting money for doing nothing.
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February 22, 2019, 02:09:03 AM
 #22

now I prefer to exchange large volumes and I will invest in ethereum and bitcoin because now the price is starting to increase, so I really can get a better profit too
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February 22, 2019, 03:05:47 PM
 #23

Hey everyone,
for all crypto traders , what do you think we need most in a crypto exchange ! right now there are thousands of them but how can you choose which one you trade on ? and what existing exchanges lack of ?

Of course the no. 1 needed is the security, just like 2FA(Factor authentication) no delay for transaction whether deposit or withdrawal for their client users. Then their support must alert at all time, in short they shouldn't take too long before giving a response to their customers, also accurate liquidity.
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February 22, 2019, 11:45:22 PM
 #24

Due to the fact that each cryptocurrency exchange platform has it's own set of shortcomings. The best we can actually do is to determine the flaws we can live with and those that simply won't work for us. When attempting to trade, the first and key thing I look out for is the security of the exchange platform. I go with platforms that give me peace of mind as I can't afford to loose my funds. Other factors besides security which I look out for include; privacy, liquidity, support, fees charged for trading and withdrawal. My advice is to always go with the most popular platforms if you do not intend to do a thorough research.
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February 23, 2019, 12:42:06 AM
 #25

I think the most important thing in the exchange market is speed. When traders do buy and sell, the system should never slow down the other issue is the deposit and withdrawal of money. The system should not wait while you deposit or withdraw money. Some stock exchanges are really awful about it. I Never and never use the exchanges that offer slow transfer and withdrawal.

R.R.L.
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February 23, 2019, 02:52:53 AM
 #26

Hey everyone,
for all crypto traders , what do you think we need most in a crypto exchange ! right now there are thousands of them but how can you choose which one you trade on ? and what existing exchanges lack of ?
For me, the most important thing is that the exchange has a good level of quality, I usually will trade in an exchange that has a good security reputation. This is because our assets will be much more guaranteed. At this time there are so many events about hacking exchange, this is what makes me feel that security is the main factor that determines us in choosing an exchange for trading.
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February 23, 2019, 03:14:28 AM
 #27

Hey everyone,
for all crypto traders , what do you think we need most in a crypto exchange ! right now there are thousands of them but how can you choose which one you trade on ? and what existing exchanges lack of ?
For me, the most important thing is that the exchange has a good level of quality, I usually will trade in an exchange that has a good security reputation. This is because our assets will be much more guaranteed. At this time there are so many events about hacking exchange, this is what makes me feel that security is the main factor that determines us in choosing an exchange for trading.

if you are conscious about your security then you must not store your assets on an online exchange for a longer time because that is always risky even if you say that an exchange is popular or trusted enough  . not only on online exchanges but also on online wallets as well . just put only the asset that you will trade immediately   . that is what im doing and i never been experience to get hack until now .

in my case , security is not my first priority but what im always looking for to an online exchange is their coin listing . i notice that im having a hard time to find my coins because almost all of them are not interested listing my coin .
davis196
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February 23, 2019, 06:53:27 AM
 #28

Hey everyone,
for all crypto traders , what do you think we need most in a crypto exchange ! right now there are thousands of them but how can you choose which one you trade on ? and what existing exchanges lack of ?

I need only one thing-my private keys. Grin
All the other stuff,like liquidity,low transaction fees,good customer support,etc. are important as well,but you know the saying."If you don't own the private keys,you don't own the coins." Grin

semobo
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February 23, 2019, 08:17:55 AM
 #29

- High trading volume
- More security features like 2FA,IP authorization
- Good customer support
- Less fee
- More trading pairs
pawanjain
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February 23, 2019, 08:51:04 AM
 #30

It must be robust and secure. Security is the most important thing which many exchanges lack of and hence get hacked.
People loose their money due to this and I think this must be the most important thing any exchange should strive for.
Also, a variety of pairs, easy deposit/withdrawals, 2FA/OTP needed on withdrawals are some things that I like in an exchange.

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JohnBitCo
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February 23, 2019, 10:13:35 AM
 #31

Im looking for exchanges site who are have support daily and the security is very secure and the features will be updated everymonth and the withdrawals is instant and the deposited is only takes only 1 confirmation to use it and also the withdrawa fees and I think if that cryptocurrency exchanges site have that for surr most trader will be register and trade to them and Binance is the most perfect example for that who are the most trusted and popular exchanges site in crypto community.

Confirmations does not matter in withdrawals and deposits from exchanges. It is better to have 3 confirmations before actually deposits / withdrawal happens so that there can be no cheating. For me, the exchange should be user friendly and should have all the features like stop loss etc. 
In many small exchanges, I do not trade because there is no option for stop loss to be used.
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February 23, 2019, 11:41:41 AM
 #32

High level of security is the most important thing because many centralized has been hack, and second one is they should be have insurance to avoid member lossing money incase the exchange get hack or others bad issue. Crypto exchange also should be have fully regulation to avoid ban from the goverment. Alot of centralized exchange been operated but less decentralized exchange, even though alot of trader want to use decentralized exchange because we have the private key so that mean we have full control with our funds.

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February 23, 2019, 11:43:16 AM
 #33

some of the natural things I want and I expect on an exchange are:
1. security guarantee
2. Low withdrawal fees
3. 24-hour admin service
mikyadel (OP)
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February 23, 2019, 12:04:20 PM
 #34

Security is definitely the most important factor or if money is stolen, it would be fair to refund it from their frozen balance.
Secondly, it may be decentralization. So managing our exchange wallet with private key is fair. Exchange is like a prison, ''restrictive''.
Im looking for exchanges site who are have support daily and the security is very secure and the features will be updated everymonth and the withdrawals is instant and the deposited is only takes only 1 confirmation to use it and also the withdrawa fees and I think if that cryptocurrency exchanges site have that for surr most trader will be register and trade to them and Binance is the most perfect example for that who are the most trusted and popular exchanges site in crypto community.

so security is a big factor , but how can you determine if an exchange is fully secure or not !! and would u prefer semi-secure centralized exchange with lots of features or fully secure decentralized one with few features ?!

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February 23, 2019, 12:06:57 PM
 #35

I am sure the cryptocurrency exchange will give the best service for the members. I only want to trade in anytime I want, and I don't have to get trouble while in trading.

For all reason why we want 2fa, high level of security, email protection, etc, I think that is the main things of exchange should have, and I am sure that they can do that without any problem.

I choose the exchange based on my feeling, if I can get comfortable to trade in that site, I will continue to use them, but if it's not, then I will search the other. I make it simple for me because I don't want to feel difficult to choose which exchange I can trade.

Right now, I still feel comfortable to trade in Binance, Bittrex, Poloniex, Yobit and sometimes in HitBTC.

Some exchange has a problem with the support system which served the members when they got trouble with deposit, withdraw or even pending transaction. And if I get trouble with that exchange, I will move all of my coins to another exchange, and I will not use them anymore.
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February 23, 2019, 12:07:09 PM
 #36

Hey everyone,
for all crypto traders , what do you think we need most in a crypto exchange ! right now there are thousands of them but how can you choose which one you trade on ? and what existing exchanges lack of ?
The most important thing for me is the security and credibility of the trading floor owner. In the past, there were too many fraudulent exchanges, they slashed their own trading floors and occupied all the investors' money there. it was worse.
Besides, security is very important. I often want to hold my altcoin on the trading platform so that I can trade easily when the price is up or down.
but now only Binance makes me satisfied. but the transaction fee is quite high.

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mikyadel (OP)
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February 23, 2019, 12:11:36 PM
 #37

I need only one thing-my private keys. Grin
All the other stuff,like liquidity,low transaction fees,good customer support,etc. are important as well,but you know the saying."If you don't own the private keys,you don't own the coins." Grin
High level of security is the most important thing because many centralized has been hack, and second one is they should be have insurance to avoid member lossing money incase the exchange get hack or others bad issue. Crypto exchange also should be have fully regulation to avoid ban from the goverment. Alot of centralized exchange been operated but less decentralized exchange, even though alot of trader want to use decentralized exchange because we have the private key so that mean we have full control with our funds.
i believe that multi-sig wallets will do the trick for you . right ?

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February 23, 2019, 12:12:44 PM
 #38

My ideal exchange has the following features:

Multiple security options like 2FA available to combat hackers, block new IPs from logging in, etc. Plenty of sites email me when a login's been detected from a new IP, but a number of the ones I am registered on don't actually require you to authorize the login through a link on the email.

Must have a physical location. Most but not all exchanges that don't have physical locations are scams, especially newer ones.

Liquidity

Good support for whenever things go wrong like deposits, trades, etc.

Reasonable withdrawal fees and trading fees. I typically don't do lots of small withdrawals from exchanges so fees aren't usually a problem for me, but the fees add up over time. Some sites also have pretty high trade fees, which most people don't initially notice when signing up for an exchange.
many exchanges already have this criteria , how would you choose between them ?

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February 23, 2019, 01:23:15 PM
 #39

eeeeeeeeeeeeeeeeeeeee
No need to look further, we have big exchanges with high liquidity so no need to look for more. I personally use binance, bittrex and hitbtc.

I list some though these are common things that we should look up to.

• Privacy
• Security
• Liquidity
• 24/7 support
• Instant deposit and withdrawal


Yeah binance bittrex hitbtc that's (3) three exchange is the most popular as of now and I included poloniex is also one of the most oldest trusted exchange with low transaction fees with strong private keys for the security of the users i am not promoting poloniex or any exchange but base on my own experience i give my own best for those people want to know is the best all about in trading.
Poloniex Era is already over since Circle bought them.I cant really deny about Poloniex service wayback before knowing that this is one of the most popular
but they do dropped down because of such changes.

Back on topic, Security is on of the most important thing for me,next is the transparency,next is the UI, support thing, fast withdrawals and fast response into their support.

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February 23, 2019, 04:28:29 PM
 #40

Who doesn't like low fees. It is the number one thing i consider before create an account then, followed by security and decentralization. Exchanges have to be decentralized to be patronized by  me considering the number of hacks some have gone through  this year. Too risky to leave  funds on  them these days.
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