How do you define a good exchange?

[Bohxz M4p4gm4h4l25]

Actually, this all depends on our own preferences and experiences.  Maybe I can say that Binance waa the best exchange but you have a bad experience on this platform you will probably dont believe me. That is why I think there is no such thing as a good exchange, all of them have flaws it really depends on our preferences.

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[Blue_oxen]

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.

I think a quick or slow withdrawal depends on the level of security of the exchange and this should be a priority when investors wish to withdraw large sums of money. In addition, big exchange requires good liquidity and any coin there must have a high trading volume. Personally, I think Huobi is still the best option for all investors because this exchange is considered the most stable during the past time.

[Bezobraznike]

Actually, this all depends on our own preferences and experiences.  Maybe I can say that Binance waa the best exchange but you have a bad experience on this platform you will probably dont believe me. That is why I think there is no such thing as a good exchange, all of them have flaws it really depends on our preferences.

   We all have feelings, but there are universal things we should consider when we choose an exchange:
-Security
-Fees
-Asset selection
-Volume
-Trading options
   We can't mix our personal feelings with the reality and talk bad about exchange just because it doesn't suit us in some way.
I can't use Binance due their decision to not support my country, but I still have a great opinion about Binance and I bought
some of their tokens, I keep them in Atomic Wallet. I hope one day they will rethink their decision and allow citizens from my
country to use them.

[carlisle1]

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.

each exchanges came from the scratch even the biggest and the most popular today like Binance ,but that is correct building reputation needed being truthful and fair in every transactions the exchange may face,being accurate in answering all the inquiries and problem of the users must be answered by support.
there are many exchange that is created to scam but there are also some that has a greater perspective and those are the successful today.

[pragna]

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

In my mind a good exchanges define with highly security system that tokens will be safe always. People must think several times before their investment about security. On the other hand team must have to be active always so that they can handle any critical situation. Trader or investor must check deposit and withdrew fees and if it goes high from another exchanges, it will create negative impression for that exchanges. Finally KYC system can be opened so that identity can clear for every traders.

thanks.

[metenjean]

Good exchange have many altcoin kinds listed on their market, exactly have many pear of bitcoin and altcoin for trading, like Binance, Bittrex and Gate io I think become most worth exchange for trading and investing.

[qory]

we all have distinctive options although so it certain varies because in most cases will want privacy like no KYC will be required or in any respect that is why they also like the DEX. Centralize however has extra volume, manifestly we all want to be there. If you could create a DEX with a extent like binance has, it will likely be accurate.

[desticy]

A good exchange should have a high level of liquidity.
The volumes and funds on such exchanges are always very high and are created by trading real people and not trading bots.

Unfortunately, it is now very difficult to distinguish between exchanged volumes from exchanges with real volumes, especially among the TOP exchanges.

After all, they use improved bot algorithms that simulate human behavior. In any case, the market already has a certain number of top exchanges among which you can choose the most suitable for you.

[coin_1122]

Actually, this all depends on our own preferences and experiences.  Maybe I can say that Binance waa the best exchange but you have a bad experience on this platform you will probably dont believe me. That is why I think there is no such thing as a good exchange, all of them have flaws it really depends on our preferences.

   We all have feelings, but there are universal things we should consider when we choose an exchange:
-Security
-Fees
-Asset selection
-Volume
-Trading options
   We can't mix our personal feelings with the reality and talk bad about exchange just because it doesn't suit us in some way.
I can't use Binance due their decision to not support my country, but I still have a great opinion about Binance and I bought
some of their tokens, I keep them in Atomic Wallet. I hope one day they will rethink their decision and allow citizens from my
country to use them.

You are right, we should consider the exchange only if they are following all conditions mentioned by you, don't worry Binance will surely accept. The above-mentioned features have already available with the Binance exchange, that's why I have chosen Binance as my best exchange.

[Negotiation]

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.

You are right there are many places to invest differently Everyone is invested in the choice of everyone. However your choice is very good I am investing But I think the best place to provide a good exchange definition is with Binance.

[bearexin]

To be fair security is a big thing but looking at even the biggest exchanges you realize that all of them are vulnerable to attacks, you can't get away from hackers because no matter how strong you think the security is, they will find a better way to hack places which you will than fix later on but they already got what they wanted and they will find yet another way to hack you etc etc, basically when it comes to protecting websites are usually too late for the fixes.

However, if a place is too big to fail like binance you see them getting hacked but they are covering the damage themselves without hurting any customer which is what you should be looking for in an exchange, if they are HUGE like binance, kucoin, bittrex, coinbase and so forth, they will not damage you alongside when they get hacked or scammed.

[Ridwan Fauzi]

Good exchange have many altcoin kinds listed on their market, exactly have many pear of bitcoin and altcoin for trading, like Binance, Bittrex and Gate io I think become most worth exchange for trading and investing.

There are a lot of altcoin on cryptocurrency market and I doubt if some of them are legit. I mean, it common thing to happen when the altcoin was delisted by an exchange because there is no investor or trader who buy it. It mean the coin has end up to shitcoin and surely they will be the big answer by an exchange why they listed it.

So as an exchange that has a lot of altcoin doesn't mean it is good. You have to see the altcoin that is being traded, if you see the altcoin that being traded are legit altcoin then you should choose but if the exchange just listed an altcoin who considered as shitcoin then I think the exchange is not deserve to be call as a good exchange.

[conected]

Good exchange have many altcoin kinds listed on their market, exactly have many pear of bitcoin and altcoin for trading, like Binance, Bittrex and Gate io I think become most worth exchange for trading and investing.

- Although many options and products for customers can increase the opportunity is essential but even if one exchange owns a lot of products, altcoins are listed very diverse, if the trading volume is too low or almost zero, it can only be called a poor exchange, it cannot be assessed well based on the variety of products. A good exchange automatically has many projects they will want to collaborate and list, and good points need to come from customer and community satisfaction surveys, a good exchange should be identified as such, instead of subjective factors

[desticy]

To be fair security is a big thing but looking at even the biggest exchanges you realize that all of them are vulnerable to attacks, you can't get away from hackers because no matter how strong you think the security is, they will find a better way to hack places which you will than fix later on but they already got what they wanted and they will find yet another way to hack you etc etc, basically when it comes to protecting websites are usually too late for the fixes.

However, if a place is too big to fail like binance you see them getting hacked but they are covering the damage themselves without hurting any customer which is what you should be looking for in an exchange, if they are HUGE like binance, kucoin, bittrex, coinbase and so forth, they will not damage you alongside when they get hacked or scammed.

You're right. If the place where you store your money is large enough and quite popular, then with a high degree of probability your funds stolen by hackers can be compensated.

But it’s important to understand that this probability depends on several other factors such as the amount of funds stolen from the exchange
(after all, if all the funds are stolen, the big question is whether the exchange will be able to compensate them),

the second second factor is how the exchange is currently operating on the market , an exchange may be more profitable to declare bankruptcy than repay debts.

[quality.crypto]

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.

You are right there are many places to invest differently Everyone is invested in the choice of everyone. However your choice is very good I am investing But I think the best place to provide a good exchange definition is with Binance.

Binance is one of the best places for investing because recently when they got hacked they managed to distribute the funds from their SAFU, till now, no such exchange distributed when their any attack and this indicates they are giving value to their customers and trustworthy towards their business.

[Swordsoffreedom]

When I join with a newly launched exchange, I notice the following:

Their Reputations on various crypto news portal and this forum.
Exchange Rate, it must have a good exchange rate, if I exchange 10 dollars with bitcoins having 6 dollars of worth, that won’t be an ideal exchange for the consumer.
Their payment methods, A good exchange must have different payment methods in place.
Verification, verification by using national ID card or passport can protect us from money laundering or fraudulent activities.
and fees, it's optional cause a good exchange may cut off a minimum fee for providing secured environment.

The definition of a good exchange is inherent in these

[nreal]

Good exchange have many altcoin kinds listed on their market, exactly have many pear of bitcoin and altcoin for trading, like Binance, Bittrex and Gate io I think become most worth exchange for trading and investing.

Not really, listing a lot of altcoins is not necessarily a good exchange.
- liquidity, security: these are the two factors I consider the most important
- Low cost, easy to use, good support: this is the next important factor
- Smooth stable interface, many options for placing orders: are necessary elements

[Subbir]

Interesting point of views, thank you for these first (very fast) replies!
I notice a great desire of increased anonymity and security, and decreased withdrawal fees.

I think much better to check this thread https://bitcointalk.org/index.php?topic=3028322.0;viewResults

Oh what a gold mine! Thank you for the share, I will write down these infos as well.

I support Binance because we all define great fee reduction exchanges Here the fees are low cut and lots of great exchanges. However KYC and authenticator code are far less likely to be the simplest hack.

[ChronoLite]

i think how do i define a good exchange is their customer support and which coins they list in their exchange, if they have good coins but shit support then those exchanges would get red sign by the community because of how bad the support actually handle the problem. finding both is actually the hardest part to get a good exchange

[matchi2011]

i think how do i define a good exchange is their customer support and which coins they list in their exchange, if they have good coins but shit support then those exchanges would get red sign by the community because of how bad the support actually handle the problem. finding both is actually the hardest part to get a good exchange

Support is very important since it's unavoidable to experienced problem once you are using any exchange, finding the right place and knowing that you
are getting support service whenever you need some, plus the types of projects that being listed though it's also possible that in any exchange shit project can be added as long as they can pay the fees.