How do you define a good exchange?

[Jateng]

The main thing is the liquidity and legality of the exchange within the jurisdiction of the country in whose territory the exchange operates.
Indeed, as practice shows, nothing prevents regulators from covering up the exchange in a matter of seconds leaving users empty-handed.

I agree with you. I want too those aspects of crypto exchange. Not all exchange can provides those factors to their customers but it's separated us from we want to an exchange because not every countries will legalize it's formal exchange in each country. Another factors that to an exchange is security and low withdrawal fees and not everyone will trully provide those aspects which I want to a good exchange. Making more transaction safer and less hassle.

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[Natalim]

The main thing is the liquidity and legality of the exchange within the jurisdiction of the country in whose territory the exchange operates.
Indeed, as practice shows, nothing prevents regulators from covering up the exchange in a matter of seconds leaving users empty-handed.

Nowadays, most of the exchanges are getting into a scam based on the liquidity which they cannot manage the flow of their money and their employees. An exchange should always manage to satisfy the user problems and has ability to solve the issues when they face any crises during at the time of the hacking.

Of course, because that's what good exchange does.

Binance got hack last year but they were able to survive that hack, and they learn from that and keep improving their security.
Now, that they bought CMC, this is a good step for them to correct some information written and maybe eliminate in the list those exchanges that are not reputable, or those who are faking their volume and those who have a lot of complains.

[CarnagexD]

Binance may be a specialized site albeit we attempt to hack it if we keep the 2fa code nobody is going to be ready to hack Trying to hack won't work. you ought to also check out different sites. you would like to watch and invest in reliable sites The accuracy of the set site must be thoroughly verified before exchanging it.

We have different bias of exchange and also we have a different definition of a good transaction, for the trade I looking for first is good security because this is the most important we can avoid the hackers next is have a fastest exchange because getting too late before getting your earnings do not give good feedback and also it is better if they have active customer support because most of the time users have trouble about their investment to the exchange and one thing we can use is the customer service so they can immediately aware about the problems of their users. Which wallet did i use? Coinbase and yobit because it fits my requirements.

[Mrengage]

There are good aspects to define a good exchange but in the other hand its base on the individual that is going to use it. A good exchange most have good security, most have a well standard 24/7 customer service. A good exchange most been know by their term's of service they provide.

[Arkann]

To date, there are quite a lot of cryptocurrency exchanges and making a really good choice is very difficult.  First of all, I pay attention to trading volumes, as well as to the absence of problems with the withdrawal of funds.  For example, the BCNEX exchange generally stopped withdrawing funds in any currency.  In addition, it’s very humid to pay attention to security, because I always pay attention only to those cryptocurrency exchanges that allow access to the account thanks to the phone number, while confirmation of any actions in the account must also occur via SMS confirmation of actions using the phone.

[bitbunnny]

For me it's very important that exchange is legal, legitimate, transparent that it doesn't have problems with liquidity and that has good customer support.
I also pay attention to rewies and possible scam accusations. Unfortunately, there are also some exchanges that are made to scam people so I'm always careful.

[rexxarofmoknathal]

For me it's very important that exchange is legal, legitimate, transparent that it doesn't have problems with liquidity and that has good customer support.
I also pay attention to rewies and possible scam accusations. Unfortunately, there are also some exchanges that are made to scam people so I'm always careful.

I couldn't agree more with the factors listed as important to you. However, in addition to these factors there are others which helps us distinguish good exchange platforms from the bad ones, and some of these includes, of course, the list of currencies it supports, exchange fees, user-friendly interface etc.

In any case, these are the some of the factors I consider when deciding which exchange platform to use.

[Shallow]

Irrespective of the properties we wish to see in an exchange everything still comes down to the team or developers, how? Their activeness will determine how advanced the exchange will be, their listening to their community will determine the implementation, improvements etc that needs to be done; thus the first thing first is the team. Now coming down to what defines an exchange or what I would like to see in an exchange, the first is user friendliness and easy accessibility which comes in the form of having a mobile application. Another is the the trading tools the exchange have, good customer care service and the withdrawal speed. But most importantly is the security within the exchange, which involves users account security and funds security, the steps the team takes everyday to ensure this is upheld matters a lot. Lastly I think once an exchange has taken into account all these and many more it will attract more users and in return will lead to the exchange having good volume.

[Desscount]

a good exchange is an exchange that has a high volume and can be responsible,
like Binance, Huobi or Bithumb, in my opinion like that  

[shadowdio]

Well it is enough for me an exchange that has low fees, no manual checking for withdrawing(it takes long to accept my request you know, sometimes hours I don't like it) and also with high volume, just keep promoting to gain users.

[Xxmodded]

Based on my opinion good exchange most have many kind of altcoin to trade and available with many option trading like using btc, doge, eth and bnb peer, I think not all people have bigger amount to trade and will available and interested if using small coin value like doge to trade than using bitcoin peer, best choose right now is binance exchange market.

[pankaj1234]

Good exchange definition means a exchange with good volume can be accessable arround the world for trading. It should has some withdrawal limit before kyc. Binance is the best example of a good exchange. Apart from Binance there are other good exchange as well like kucoin, Bittrex, upbit etc.Exchanges application should be more flexible to use. Some app. Just hang too much you don't like to open 2nd time. Deposit and withdrawal should be authorized so trader can check their balance more often. These are some quality that a good exchange should have.

[Dr.Osh]

Well it is enough for me an exchange that has low fees, no manual checking for withdrawing(it takes long to accept my request you know, sometimes hours I don't like it) and also with high volume, just keep promoting to gain users.

Low fee exchanges are the best, but I prefer popular markets like Binance. maybe we can see the potential trust and professionalism of exchange from how they deal with problems. no problem to pay a slightly more expensive fee, the most important is trust and security.

[agourbet]

In my opinion and experience a good exchange has to have 3 things:

1) Good UI (you need to feel "happy" when you are logging in)
2) Deep liquidity (you need to check orderbook and see the volume that it has)
3) Crash protection mechanisms (the exchange should have mechanisms to protect you from flash crashes)

[cheezcarls]

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 own opinion regarding the definition of a good exchange, there are several factors that I had in mind.

1. Safety and security (impossible or difficult to hack)
2. Low or reasonable trading fees
3. Hosting trading competitions regularly or on a consistent basis.
4. Excellent customer and technical support (response time, sorting out problems or issues, etc.)
5. Multiple or creative ways of 2FA or any other security measure
6. Speed of transactions or trading from crypto to crypto.
7. Run by an honest and reliable group of development team with years of experience and great public reputation.
8. Speedy or reliable loading time in the platform.

This is what I have to share for now and I hope this helps a bit. Cheers!

[tbterryboy]

Best case has always been trust, if you do not trust an exchange you are not going to use it, that is number one in everyone's eyes. Hell there are people who do not trust or like binance because of CZ and how he handled few issues, which means even if binance is the biggest exchange out there in volume or liquidity they are not going to use it, they are just going to find an alternative, that is why there is a market for many exchanges.

If everyone here is right and volume is the only important thing, people all would have gone to binance and there wouldn't be any alternatives, but there are many, why? Because people trust them more. And also availability, there are exchanges that list some smaller coins that gets attention, that is how they stay alive and continue to operate.

[Piston]

Trade an exchange of prisoners to replace returned merchandise with an equivalent or something else most stores will allow the purchaser to exchange goods to part with in return for some equivalent; transfer for a recompense barter to exchange goods with foreign countries. system of exchange where participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money.

[rexxarofmoknathal]

Low fees, good security, good reputation and liquidity. These are some of the factors in my opinion are good to apply when judging what a good exchange looks like. So just to put some of these into context, undoubtedly, in the mind of many security sits at the top of the list but low fees is also just as important as while your money is all safe when trading, moving money from one place to another or withdrawing you don't want to incur loss of half of that in the process.

It also then depends on the type of action you want to make. A few good ones are kraken, binance, primeXBT, bybit and among these giants there're other less popular one but still growing and hitting all the points as above, one of them I've had a great experience with is bestchange.

These are just the few ones I've had experience with but I'm sure other people would recommend similar ones also.

[AnwarDah]

Everyone of us has its own definition of a good exchange; and it depends on what they are looking for and their own preferences. For me, a good exchange is the one that cares about its users, always has good projects, and has low trading fees. Isn't this what we all want? I found all of this when I started using ProBit Exchange.

[Renampun]

Everyone of us has its own definition of a good exchange; and it depends on what they are looking for and their own preferences. For me, a good exchange is the one that cares about its users, always has good projects, and has low trading fees. Isn't this what we all want? I found all of this when I started using ProBit Exchange.

you are right but the security is still the main thing...
for me a good exchange can maintain the trust of its users, cheap fees are useless if the exchange is only profit-oriented and not user-friendly/safety.