How do you define a good exchange?

[tianglistrik]

One of the most common concern of the users is the risk, we traders transfer our coins or assets to an exchange and it's not just an amount... but a huge amount of money if you will combine all the users asset. We wanted an exchange that has a high security features but doesn't sacrifice the users identity in short we don't want to have a KYC (well a KYC can be helpful in resolving account issues) but don't force users to undergo KYC before withdrawing their funds.

Next thing is the trading fee and specially the withdrawal fee we wanted a fair fee and a low withdrawal fee. Last thing is which coin you're going to list we don't want a shit/scam coin to be listed on the exchange you should review first the coins that were going to list on your exchange, lastly is the User interface we just want a simple and easy to understand interface of your exchange.

if you want a secure exchange then you have to give up large withdrawal fees, because they will have features that are certainly better. while for KYC I think more about tracking company identities and needs as well as knowing their users' information.
and do not expect more if you do not want to spend big money in fees, because the full features possessed by large exchanges then they need the tools and the need to pay the people who work in it.

[Natalim]

Also, I want to have fast withdrawal with less fee, and have a great customer service.

Well, everyone wants that, and actually that's the standard of exchanges right now.
However for less fee, I don't think you can find it, most of the exchanges are asking a fee that are just based on the market standard, but if you like less fee, you could use unpopular exchange I guess but that's not safe, also, even with unpopular exchange, some of them even have high fee.

The key here is just as long as it's based on standard, it's always justifiable.

[doomloop]

One of the most common concern of the users is the risk, we traders transfer our coins or assets to an exchange and it's not just an amount... but a huge amount of money if you will combine all the users asset. We wanted an exchange that has a high security features but doesn't sacrifice the users identity in short we don't want to have a KYC (well a KYC can be helpful in resolving account issues) but don't force users to undergo KYC before withdrawing their funds.

Next thing is the trading fee and specially the withdrawal fee we wanted a fair fee and a low withdrawal fee. Last thing is which coin you're going to list we don't want a shit/scam coin to be listed on the exchange you should review first the coins that were going to list on your exchange, lastly is the User interface we just want a simple and easy to understand interface of your exchange.

I could summarize the things that you have highlighted as characteristics of a good exchange in just two words. A good exchange is the one that keeps a check of two things. Firstly, the privacy of the user must not be breached at any cost and the second thing is it must provide complete information about currency exchange rates or current prices.

[Webetcoins]

One of the most common concern of the users is the risk, we traders transfer our coins or assets to an exchange and it's not just an amount... but a huge amount of money if you will combine all the users asset. We wanted an exchange that has a high security features but doesn't sacrifice the users identity in short we don't want to have a KYC (well a KYC can be helpful in resolving account issues) but don't force users to undergo KYC before withdrawing their funds.

Next thing is the trading fee and specially the withdrawal fee we wanted a fair fee and a low withdrawal fee. Last thing is which coin you're going to list we don't want a shit/scam coin to be listed on the exchange you should review first the coins that were going to list on your exchange, lastly is the User interface we just want a simple and easy to understand interface of your exchange.

A good exchange is the one that offers you multiple methods of payment, costs you less transactions and withdrawal fees, one that have good verification requirements, offers you less geographical restrictions and proposes good exchange rates. After long day and night struggle the money that you have earn you will never want to invest it in a trade that offers you less profit.

[angrynerd88]

Every one has a priority,Traders prefer high leverage,Investors prefer having more inveatment options and the long term holders prefer having tighten security that hackers can not reach the easily.If all these options have any exchange i think it will best and same time will attract traders,investors and holders.Yobit is also good exchange you can trade and earn free coins,Yobit have also investment option which give good return.

[giltc148]

It’s great to be able to communicate with people like you. I found your exchange on the internet, btw. However, it was much harder to find any review of it. Well, I tried to compare it with the platform I use (https://cexbro.com/). It has BTC, USDT, ETH, LEX, right? Cex bro also has BTC, USDT, ETH, and some more vivid coins. It also has a margin trading feature. Does Lugdunex have such a feature too? Really, consider writing a review.

[its-a-me-mario]

1. Insured funds, so if the exchange experiences a hack or loss your funds are covered.
2. Multi-factor auth to prevent accounts from being stolen.
3. Advanced order types (more than just market and stop-limit)
4. US-based, as the US is currently doing the best job of regulating crypto exchanges and requiring that they are legitimate.
5. No wash trading, almost ALL exchanges apart from the top 10 or so are doing massive wash trading. Don't give them your money.
6. Fast customer support. This is HUGE when things go sideways and you need help.

[nennanem]

I need to know your preferences.

My dream is a decentralized exchange with good liquidity. I don't know how to achieve it technically but that's how I see the best possible exchange. Moreover, KYC-checks (if they are necessary) should be more straight-forward than on many existing exchanges (when you never know what else the support team is going to ask you in the next minute). I've tried one DEX but I wish it would be faster. Maybe you will find a way to achieve it.

[Chrystora123]

The good exchange I think is very simple..

• responsive customer service
• cheap fee (maker, taker & withdraw)
• high level of security
• have a lot of pairs (BTC/ETH, ETH/LTC or others)
• have very few complaints (minimum 0.3% of total users)

I don't like the KYC verification and I will never send my personal data online except for local KYC and that is why I used bitcoin is that you don't need to exchange your BTC to local fiat without verification. However, the problem these days almost all exchanges are now asking for KYC even claiming ICO requires KYC which is not fair.

I don't like KYC on the gambling platform but for exchange I think it's very important.. an exchange which enforces KYC, of course, monitors the movements of its members and it will reduce money laundering, we cannot deny that corruptors, weapons dealers and drug traffickers use cryptocurrencies for their transactions.  so my conclusion, KYC is very important in exchange.

[hahay]

KYC in exchange is important and I don't mind it and again, when the exchange has support that is always ready to serve its customers it is a very positive thing, because I personally have experienced problems in an exchange and they do not have or lack of support so the problem we raise cannot be resolved quickly. Another problem is about the maintenance of the exchange itself, when the exchange can carry out regular maintenance it will certainly make the exchange safe from hacking.

[abel1337]

The good exchange I think is very simple..

• responsive customer service
• cheap fee (maker, taker & withdraw)
• high level of security
• have a lot of pairs (BTC/ETH, ETH/LTC or others)
• have very few complaints (minimum 0.3% of total users)

We do have the same wants on an exchange in order to define them as a good exchange, Everyone of us has a different qualification to define an exchange as a good exchange, Some of us rely on the feedback from the recent users of a certain exchange, Some are trying it themselves to know what kind of exchange they are dealing with. Of course exchange today are battling with their good quality to fight other exchange especially if the exchange is a new one. Some users preferred established exchange over new ones with a good offer or promotion because sometimes users only need a good service on there trading activities.

[Question123]

What is the Op update he already build a exchange?  The good exchange for me is the Security is very high, the exchange does not list most of shitcoins, they listed a lot of potential coin and many features that you can use once you register to the exchange.

Traders have different taste about choosing trading exchange and we are not same and if someone wants or have plans to create their own exchange better to combine their all suggestion so they will choose your exchange.

[Freddy11]

A simple platform and smooth structure is what defines it for me. Anyhow, mostly I don’t prefer any exchanges due to the risk. I instead prefer Forex broker, but it is something that needs to be worked out right to be able to benefit through.

[Negotiation]

A simple platform and smooth structure is what defines it for me. Anyhow, mostly I don’t prefer any exchanges due to the risk. I instead prefer Forex broker, but it is something that needs to be worked out right to be able to benefit through.

Yeah, many of us stop trading because of the risk but I think forex brokers are really good too I've exchanged here and the Forex Broker is a platform that works with integrity and integrity. At first I did not know anything about trading but after the first trade I did at Forex Broker.

[qory]

Good exchange could process your withdraw faster and just take few minute your withdraw done, you need looking about good exchange is depend how process with deposit coin faster or not where some time we can use arbitrage for getting much profit except trading in some exchange market.

[bitbunnny]

Good exchange could process your withdraw faster and just take few minute your withdraw done, you need looking about good exchange is depend how process with deposit coin faster or not where some time we can use arbitrage for getting much profit except trading in some exchange market.

How fast they process withdrawals is very important but it's not crucial.
To me the most important features of a good exchanges are security, legitimacy and proper customer.service. If anything of these is not working fine I would not use and not recommend such exchange. Unfortunately, there are lot of exchanges that doesn't fulfill that criteria because fast profit is only they are after. Due diligence is something that O always do before starting to use some exchange.

[TrevorS]

Good exchange could process your withdraw faster and just take few minute your withdraw done, you need looking about good exchange is depend how process with deposit coin faster or not where some time we can use arbitrage for getting much profit except trading in some exchange market.

A good exchange will primarily take care of the safety of its customers and its own security as well.
This means that in the case of deposits in cryptocurrency, you still have to wait for a certain number of network confirmations before your deposit is credited to the system.
As for the withdrawal of funds, in the case when the exchange has a manual mechanism for confirming the withdrawal of funds means that the exchange has significant liquidity problems.

[LUCKMCFLY]

There is a conception that I have, for me an Exchange of quality and level 1A:

1.- That allows "Stop Loss" and "Take Profit" to be placed in 1 position.

2.- That allows the Margin Trade, leverage.

3.- That it does not have excesses, that is, they do not settle with High Frequency trading peaks with Bots.

Apart from the fact that withdrawals are fast and safe, allowing anonymity, which, today is very difficult to achieve, without KYC it would be ideal.

[BlackFor3st]

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

What I like the most with regards to crypto exchanges are the following : the platform is easy to use or in other word it is user friendly, the security is top notch so we can assure that our money is safe even if the black hat hackers will attempt to hack the exchange, low transaction fees especially in trading or withdrawal and lastly the speed of withdrawal and deposit is almost instant if possible so we don't need to wait for 5-10 minutes before we can see our deposit or withdrawal.

What I hate to crypto exchanges are the following : fees are too high, too much documents to ask even if you are a small trader or user only, it is very difficult to maneuver or it is not a user friendly and lastly I need to wait for few minutes or hours just to see my deposit or withdrawals.

[Innerpumper]

A good exchange is an exchange without cheating. Although building it from scratch really needs a process but when you're honest in building a project, you don't have to worry about your project's success. I saw it was very difficult to find a market without cheating so many of the market users run away from that market. So many new markets that want to manipulate the price according to the will of exchange developers, this is the most hated trader. I experienced it.