How do you define a good exchange?

[Blitzboy]

A good exchange MUST have good customer service. If a customer have an issue and send a ticket, they should acknowledge the issue right away and let their customers know that they are working on it and give a time frame of resolution. One thing I learned about running a business that deals with people is you need to know how to good care of your existing customers or else, someone else will do that and take your customers away from you.

What will happen if you had good customer service but you didn't have enough customers to grow? Good customer service is necessary, but it needs to have other factors to attract users, such as safety, fast transactions, low cost and transparency, etc. Take a look at the biggest exchanges right now, they start from a normal exchange, they are full of user requirements, so they are used more and more, bigger and bigger.

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[quality.crypto]

In the company where I work, we usually receive client questions on a daily basis and if that query is assigned to a representative, the representative needs to reply right away and resolution should be given in maximum of 72 hours or else get back to the client and don't leave them hanging. One thing I hate is exchanges that don't acknowledge the email that clients submits to them, personal acknowledgement not by a bot that says "this is an automated reply, we received your query and we will get back to you...". We are giving them business, and they treat us like crap.

Usually that's the first reply, that's an assurance that you email has been receive but eventually when that will be taken care by the support then you will receive a reply from them, it's not treating us a crap, bot are just program that way.

A company with an active team and active response raised for the support will always help the exchange to get more exposure for the exchange. An exchange who are generating their volumes through bots will not help them to get more exposure. Instant withdrawals will always help the exchange to get a reputation.

[akmal1984]

I define a good exchange is to look at the service and the amount of fees they offer. If the service is good and the feats are not too expensive, this is a good category for me. Because surely there will be many traders who will use this exchanger so that the trading volume there will increase

[KnightElite]

In the company where I work, we usually receive client questions on a daily basis and if that query is assigned to a representative, the representative needs to reply right away and resolution should be given in maximum of 72 hours or else get back to the client and don't leave them hanging. One thing I hate is exchanges that don't acknowledge the email that clients submits to them, personal acknowledgement not by a bot that says "this is an automated reply, we received your query and we will get back to you...". We are giving them business, and they treat us like crap.

Usually that's the first reply, that's an assurance that you email has been receive but eventually when that will be taken care by the support then you will receive a reply from them, it's not treating us a crap, bot are just program that way.

An active support is what we need, there issues that are inevitable so we need the help of the support of the exchange. They should have a fast reply where we can feel special and convenient. I do not like exchange that will take a day if you send an issue to their support. Fast reply of the support makes the exchange to be good. We should find an exchange that have this kind of characteristics.

[gweedo]

There are lots of exchanges in this market and there are also a lot of people using different exchanges. So you don't need to focus on surveying everyone, you just need to try to list as many exchange as possible. So everyone will be happy with the exchange they are using

[jazmuzika217]

I think it is hard to define a good exchange. All we know that there are lot of exchange or project that we see here in crypto but we can consider a good exchange if exchange is good if it can stay alive for a long time like bitcoin that can survive for a decade even it experienced a lowest price value.

[Kupid002]

I think it is hard to define a good exchange. All we know that there are lot of exchange or project that we see here in crypto but we can consider a good exchange if exchange is good if it can stay alive for a long time like bitcoin that can survive for a decade even it experienced a lowest price value.

daily volume is what its required to know if its good exchange.
Other than that the users feedback also can help and how many traders use that exchange the more users the more volume it wil be added to that exchange. You can also check list of highest volume exchnage in cmc and coingecko.

[tungaqhd]

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

Based on this thread: https://bitcointalk.org/index.php?topic=3028322.0, these are top features that people want from an exchange: Cold storage of coins, Availability/up-time, Anonymity and Fiat currencies. In my opinion, a good exchange should has good security (2fa authencation for example).

[bettercrypto]

Good exchange for has liquidity and low fees. It should not be fake volume because that is really disgusting for the part of traders. We need transparency here since this is the common goal of each of cryptocurrency. Exchange who have higher fees also is my hate because I am a small investor only and fees that I paid in exchange is worthy in my case.

[boris singer]

Good exchange for has liquidity and low fees. It should not be fake volume because that is really disgusting for the part of traders. We need transparency here since this is the common goal of each of cryptocurrency. Exchange who have higher fees also is my hate because I am a small investor only and fees that I paid in exchange is worthy in my case.

in this case binance - latoken - and hotbit according to the criteria each of you mentioned, for me liquidity remains the most important, and then is stability of the exchange system in dealing with problems that arise with satisfactory services, the last is that various trading options are provided in a complete package on the same platform.

[whyrqa]

Good exchange for has liquidity and low fees. It should not be fake volume because that is really disgusting for the part of traders. We need transparency here since this is the common goal of each of cryptocurrency. Exchange who have higher fees also is my hate because I am a small investor only and fees that I paid in exchange is worthy in my case.

in this case binance - latoken - and hotbit according to the criteria each of you mentioned, for me liquidity remains the most important, and then is stability of the exchange system in dealing with problems that arise with satisfactory services, the last is that various trading options are provided in a complete package on the same platform.

The fact is that you can use the highest rated cryptocurrency exchanges in order to trade the highest rated cryptocurrencies, and for this I take Coinmarketcap indicators into account.  But if it comes to daily trading with lesser-known cryptocurrencies, then you need to choose only the cryptocurrency exchange where the trading volumes are the largest.  Perhaps the choice in this case is small, but you need to look for a profitable option.

[iram3130]

There are lots of things to look out to make a good exchange. First thing is attracting users/real traders is hard. If you do giveaways frequently then there is a possibility to get some users. People are more tending towards Decentralized exchange these days but still lots of centralized exchanges are running the market for their services.

[tungaqhd]

I define a good exchange is to look at the service and the amount of fees they offer. If the service is good and the feats are not too expensive, this is a good category for me. Because surely there will be many traders who will use this exchanger so that the trading volume there will increase

I think you shouldn't just look at the fees they offer. Many good exchanges have high fees because their server are expensive or their service worth it. Money make people work more productive

[PuertoLibre]

I define a good exchange is to look at the service and the amount of fees they offer. If the service is good and the feats are not too expensive, this is a good category for me. Because surely there will be many traders who will use this exchanger so that the trading volume there will increase

I think you shouldn't just look at the fees they offer. Many good exchanges have high fees because their server are expensive or their service worth it. Money make people work more productive

The crazy amounts turn in the exchanges and they still want to take advantage of high withdrawal fees. From my experience, the withdrawal fee costs a lot if the trader has a special type of trading strategy. In an example, the arbitrage traders use the trading bots for taking advantage of the price differences on different exchanges. If the exchange has a higher withdrawal fee, the profit rate will drop drastically and the profit curve in the account statement will not go up in 20 trades.

[Wipeout2097]

Trading volume,Leverage matters for a good trading exchange platform,As we know the crypto market is growing also competition and users also increasing every user have own priories to looking for a platform.

Catching up majority of community must offer different services and platforms on Exchange like,STAKING,LENDING,BONUS,FREE-COINS,USEFUL-ACTIVITIES and provide platform to community where can share ides and problems facing on exchange also have a room to solve their problems. Interface of Exchange matter alot because users prefer attractive and easy to use interface save their time.

[onrise]

I define a good exchange is to look at the service and the amount of fees they offer. If the service is good and the feats are not too expensive, this is a good category for me. Because surely there will be many traders who will use this exchanger so that the trading volume there will increase

I like the exchange which is easy to use and have minimum account creation requirement. It has good and prompt support system and solves the customers queries. Have easy and self-explanatory site and easy to use. Also, the trading fees is kept to minimum.

[manualwaterfall]

No kyc, good volume and market making activity. Ideal has low trading fee, with support for leverage trades

[Jiyens3]

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 good exchange is high trading volumes, no need KYC in there because i think KYC is secret so no need to Requirements in there, low fees in transactions and low fees in trading, then easy to use start to language and skin, have good team in there like friendly team in customer service

additional options maybe exchange that have many give away in there so its be favorit by many people

[singlecivilization]

Not mentioned in most posts, but arguably the most important feature: top-tier security for user deposits and company holdings. Multi-factor authentication support with support for SMS (flawed, but better than nothing in most cases), security devices (yubikey, etc), and OTP applications like Google Authenticator or Norton VIP Access. Additionally, I like how some exchanges delay withdrawals after certain account events. For instance, if a password is changed, you can't withdrawal for 3 days, or if you're signed in from a new IP maybe there is a delay. This helps if your account is hacked, you can notify the support team ahead of time and they can freeze the deposit.

[johnwest]

I would need all the features like Binance where even if we hold the tokens on the platform then also we will get the benefit of staking rewards. If there is less KYC, that would attract more people but the governments will strongly oppose it. A decentralized exchange is always better than centralized, but as the profit is less, you cant provide good service in decentralized exchange.