How do you define a good exchange?

[ololajulo]

Safety of token, true and high volume, low fee transaction, fast response of support and good interface. Track record of such exchange are also considered, period of year of existence build confidence of traders. Exchanges with high number of token are likely to see more users, also exchanges are encouraging fiat-crypto exchange to increase crypto investorment at large.

[1714672051]

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[1714672051]

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[1714672051]

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[angel55]

Now the biggest factors on if I will use a new exchange is how low their fees are and how strict is their KYC process. I tryo avoid handing over my personal information at all costs so I will favor the exchanges that let you take out under a certain amount without revealing your identity. 

[calya]

Now the biggest factors on if I will use a new exchange is how low their fees are and how strict is their KYC process. I tryo avoid handing over my personal information at all costs so I will favor the exchanges that let you take out under a certain amount without revealing your identity. 

if you choose this kind of exchanges, maybe dex exchanges could be the solution.it no need any document for its user but dex exchanges has low volume trading.and its be our problems if we want sell asset in huge amount.

[D3m1r4wanti]

in my opinion a good and good exchange presents a lot of factors including the volume of sales, the number of coins listed and the low fees that can be a good exchange and attract many investors or traders to be there.

The trading volume can be manipulated, it cannot be a factor that makes an exchanger a good exchanger. so I continue to argue that security and service for 24 hours a day is the most important thing in an exchanger to be said to be good.

[Remainder]

in my opinion a good and good exchange presents a lot of factors including the volume of sales, the number of coins listed and the low fees that can be a good exchange and attract many investors or traders to be there.

The trading volume can be manipulated, it cannot be a factor that makes an exchanger a good exchanger. so I continue to argue that security and service for 24 hours a day is the most important thing in an exchanger to be said to be good.

That could be true, I read an article about that and I like to share it here, you can refer to the link below.

https://www.theblockcrypto.com/2019/05/28/up-to-86-of-total-reported-cryptocurrency-trading-volume-is-likely-fake-according-to-analysis-of-exchange-website-visits/

That would mean only few exchanges in the market are reputable, and we should trust them over the questionable exchanges.

[CryptoPowerL]

I do not trust the new exchanges. If I need to sell some kind of token that can only be sold on a new exchange, then I will immediately withdraw the cryptocurrency to my wallet after the sale.

[davinchi]

Actually I try to find something trustable based on community feedback.
Sometimes I gambling because when you see the exchange already trustable but it's security still flaw so we often heard about well known exchange that got hacked.

Well, this is cryptocurrency , the world of full risk

There is no exchange that will deliberately leave their database opened to threat, most exchanges that have been hacked have very strong security tools in place, but hackers too are very strong and professional when it comes to hacking, so it is not every time they will always win the battle. Take for example, do you know how many time these exchange would have successfully battled hackers till they got hit by one that managed to be successful.

So we cannot completely say they don’t have security, sometimes, it happens even to the strongest of them all, and it’s the reason why we should be responsible for our own security, but what will make a trade successful is volume.

[johncarter123]

A good cryptocurrency platform should offer :

• high liquidity
• security features
• trading with leverage
• multiple trading products
• advanced trading GUI

[Vadimka777]

It depends what do you expect from the exchanges..

For example, I choose Kraken, for the best UI/UX in order to exchange crypto to Fiat. Talking about altcoins I prefer Binance or OKEx. If you want to do arbitrages, you should use less popular exchanges such as btc-exchange or exmo. If you want to be a HODLer you can use just a BitPanda.

All in all, it would be great to understand what are your expectations from the exchanges.

[LimLims]

I do not trust the new exchanges. If I need to sell some kind of token that can only be sold on a new exchange, then I will immediately withdraw the cryptocurrency to my wallet after the sale.

Your concerned is absolutely correct.
But you maybe wrong.
I mean you directly said we shouldn't believe in new exchanges.
But what about the exchanges launched by reputable users.
Also what if they do huge scale promotions?
The ones with all these facilities are really legit. They really want to make a good reputation on the market.
But i also agree. Some exceptions are there.

[kidoseagle0312]

Maybe one of the good exchange for me is Kucoin, because it has a huge traders that are very active to their platform.
Then, aside from that their support team was also responsive and and very accommodating to their customer too.
And lastly their transaction fee also was too low and very fair enough to all their client users compare to other exchange
platform.

[xSkylarx]

I define an exchange if it's good or bad if it has a high volume of traders. If there are a lot of trades happening on each crypto and only few selected altcoins are listed there. It's also good if their platform is mobile friendly and their support is easy to contact and replies fast when there are some problems.

[Whosdaddy]

in my opinion a good and good exchange presents a lot of factors including the volume of sales, the number of coins listed and the low fees that can be a good exchange and attract many investors or traders to be there.

The trading volume can be manipulated, it cannot be a factor that makes an exchanger a good exchanger. so I continue to argue that security and service for 24 hours a day is the most important thing in an exchanger to be said to be good.

That could be true, I read an article about that and I like to share it here, you can refer to the link below.

https://www.theblockcrypto.com/2019/05/28/up-to-86-of-total-reported-cryptocurrency-trading-volume-is-likely-fake-according-to-analysis-of-exchange-website-visits/

That would mean only few exchanges in the market are reputable, and we should trust them over the questionable exchanges.

The record I saw recently shows that we have only 10 exchanges with reliable figures, which means the remaining ones are being manipulated at one point, though it doesn’t mean that all the volume are typically fake, but at least 40 to 60% of it are fake. There are some of the exchanges that has finally convinced people through that and gotten at least 90% of real volume.

This practice is a very bad one because it misleads investors, but at the same time, I would not completely judge them since the only way to encourage people is through volume, we trader’s likes to stick with volume more than the exchanges features, so we deserve what we get sometimes.

[radjie]

Hello to all the Bitcointalkers!

Because it is my first post, I have, at least, to present myself in several words. I am a coins/tokens dev and web developer full stack.
After several years of crypto experience, I decided to create my own project. It is not a coin, nor a token (there is already plenty of ERC20 tokens and coins), it is a cryptocurrency exchange.

There is already some exchanges available on the web, but I would like to build one which may fit to Bitcointalk users, it's why I opened this thread, and ask you today what do you like the most in crypto exchanges, as well as the things that you dislike. It can be specific features, themes, properties...
I want to build a good exchange, and for that I need to know your preferences.

Waiting for your replies
Lugdunex

for me a good exchange is an exchange that can make it easier for users to make withdrawals or deliveries at a low cost and without KYC verification, I am sure most people complain about KYC verification because it is quite difficult to wait until the verification is received. in addition, website security exchanges can be a major factor that can provide convenience for its users

[Mr.ZODIAC]

Guys, for some trading platforms, the provision of passport data is mandatory only if the daily withdrawal exceeds a certain minimum of funds.  This minimum is different for each platform.  Since we are dealing with a large number of different cryptocurrencies, you have to register your accounts in a huge amount of trading exchanges, and you really don’t want to go through KYC everywhere and check your documents and therefore you have to look for other resources for trading.  Nevertheless, the presence of KYC verification is not yet a guarantee that this exchange is one of the best.

[TimeTeller]

Hello to all the Bitcointalkers!

Because it is my first post, I have, at least, to present myself in several words. I am a coins/tokens dev and web developer full stack.
After several years of crypto experience, I decided to create my own project. It is not a coin, nor a token (there is already plenty of ERC20 tokens and coins), it is a cryptocurrency exchange.

There is already some exchanges available on the web, but I would like to build one which may fit to Bitcointalk users, it's why I opened this thread, and ask you today what do you like the most in crypto exchanges, as well as the things that you dislike. It can be specific features, themes, properties...
I want to build a good exchange, and for that I need to know your preferences.

Waiting for your replies
Lugdunex

for me a good exchange is an exchange that can make it easier for users to make withdrawals or deliveries at a low cost and without KYC verification, I am sure most people complain about KYC verification because it is quite difficult to wait until the verification is received. in addition, website security exchanges can be a major factor that can provide convenience for its users

First and foremost, I would like to use a licensed crypto exchange if the reputation has not been established yet.
There are countless of exchanges sprouting everyday, and most of them do not have the intentions of acquiring their respective licenses.
I know that's a lot to ask for a starter, but presenting your exchange with such license would gain your credibility from this competitive market.
Building your own exchange is not an walk in the park. This is a serious business if you don't want to be labelled as cheater or scammer.

[iMark]

Actually I try to find something trustable based on community feedback.
Sometimes I gambling because when you see the exchange already trustable but it's security still flaw so we often heard about well known exchange that got hacked.

Well, this is cryptocurrency , the world of full risk

The risk is still there, we are not trying to eliminate the risk but looking for exchanges with a small risk of scam, and that is what I see on old exchange, they have millions of users and the length of time they operate proves that they are safe to use, I also look for trading sites that have active customer support, it will solve problems for each user in short time, low fees for trading and withdrawals are also a consideration of mine

[anume123]

I suggest a good exchanger for those coins have a good price and stable price and high volume. Because people will decide from it and truth they have using that exchanger with volume of coins.

[airdagon]

I think a good exchanger is an exchanger that has a lot of coins that is quality, safe, low-cost and has a high volume

[MrPiggles]

I define an exchange if it's good or bad if it has a high volume of traders. If there are a lot of trades happening on each crypto and only few selected altcoins are listed there. It's also good if their platform is mobile friendly and their support is easy to contact and replies fast when there are some problems.

I think with you always choose the exchange with high trading volume and trust from many big investors or if there are more applications for mobile then it really convenient for trade. People often like the innovation of different exchanges but if people are trusted, it is a new alternative in the near future. I believe that choosing a good exchange is easy and staying away from exchanges always requires KYC users