How do you define a good exchange?

[Free1bitco.in]

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.

Well, even though we have each definition of a good exchange, we also have in common that good exchanges like Binance, Kucoin, Okex, and other exchanges are already popular and trusted.

[1714673803]

1714673803

[1714673803]

1714673803

[1714673803]

1714673803

[1714673803]

1714673803

[bangkecol]

Good exchange is an exchange that have easy features to use even a common people. Then, Fast loading website, low fee withdrawl and zero fee for deposits, No KYC needed.And don't forget to have fast respond contact support if users face problems.

[Salauddin1994]

Binance, Kucoin are a really good investment site these are very reliable in the crypto market and there is no fear of being scammed. Exchange fees are much lower we always refer to good sites as reliable sites and the tendency to lower fees. One of the above exchange sites there is no need to search for these later investors invest with a lot of confidence.

[nasipadang]

The first for me is security, in system development class lessons and technology development that I must prioritize is the security of the system. Then it is continued with UI / UX because of the user's interest based on this, from these two things the user trust arises. For the features myself I prefer the features for technical analysis, chat, demo, and basically features that help trading.

[whyrqa]

It depends on several criteria such as :

1-Geographical location and restrictions;
2-Transaction fees;
3-Security, anonymity, and support;
4-UI and ease of use;
5-Volume and liquidity.

Furthermore, cryptocurrency exchanges should be used for trading and purchasing, not for storage.

I believe that in addition to the points that you have already named, I would add an item with multi-level protection, as well as with several options for confirming all actions on the exchange using a phone number and email, as well as two-factor authentication. In addition, the exchange can be selected according to the availability of guarantees from the administration, such as binance, which has a fund for hacker victims if something happens to the user's funds. I believe that this is also a great argument when choosing a cryptocurrency exchange.

[sulendra12]

One of the above exchange sites there is no need to search for these later investors invest with a lot of confidence.

Those exchanges are really fine and safe to invest, but even though those exchanges are legit you need to actually do a research for making a decision which coins are the best to actually invest. I mean good exchange doesn't mean they have good coins too! Poloniex is a great example a good exchange but they have a bunch of shitty coins.

[djmixen]

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

I cannot define the good exchange, maybe if the exchange has a lot of coins that have big volumes I could say it's a good exchange. 
One of a good example of this are Binance, Bittrex, Bibox, Houbi, Bitforex, and Kucoin because for me as long as you earn and you comfortable
that your assets are safe that means the exchange you used is safe in my own perception.

[Serco]

some point to define good exchange in my opinion :
1.daily trading volume, good exchange will have big trading volume so it will provide easinest to liquid our assets.
2. various feature such as staking , margin trading reputable IEO launch pad , crypto loan and many other
3. high layer security , if we rare to heard exchanges hacked it is good for us.
4. fund mechanism to recover hacking case. good exchange will have insurance to recover customer loss due hacking case.

[Sebato]

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

I cannot define the good exchange, maybe if the exchange has a lot of coins that have big volumes I could say it's a good exchange. 
One of a good example of this are Binance, Bittrex, Bibox, Houbi, Bitforex, and Kucoin because for me as long as you earn and you comfortable
that your assets are safe that means the exchange you used is safe in my own perception.

Probably everyone defines it in their own way. High trading volumes on good crypto exchange and a user-friendly interface with many necessary functions are important for traders. I think there are still people who keep in exchanges. I dont consider this method to be the most successful, but for such users, crypto platform reliability and safety are important. Therefore, I believe that there is no universal answer to topic starter question. I consider the above list of exchanges to be a good recommendation, except for Bibox, since I have never used it. On my own I can recommend looking at the reviews on cryptototem: https://cryptototem.com/bittrex-review/. Perhaps after reading these reviews, you can answer your question "How do you define a good exchange?".

[Psynthax]

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.

The deemed expensive fee is actually just a few cents more anyway not gonna be a big problem for people who dont trade that often or instant sell/buy. The real concern should be liquidity primarily because without it that exchange is the same as nonexistent.
For me, liquidity and reputation first then other things later.

[proTECH77]

Every trader want to make a good profit from their trade, which know one  want to lose anything for their that is making them to do more research to determine the real exchange to trade and make a good income. Every exchange that end well with the trader in the market place, with a lot of profit like never before is a good exchange. many investors still find it difficult to know a good exchange that will profit them without much effort to make the  the investment a successful. Once you see any trader coming back from market with a smile show he or she engaged their self in a good exchange.

[culuuton]

A good exchange is one that I personally find easy, friendly and safe to manipulate. The choice of listing coins is very important, investors looking at them can judge them as a trust exchange or a shit exchange. Don't pursue listing benefits but ignore their quality.

[XZERO1]

First it has to show its real volume and should in no way have any amount of fake volume and orders that exchange's bots create to make you think they have trading activity in their pairs while as a matter of fact that's not true, also after that I would look for lower trading and withdrawal fees as well as low spread.

Having low spread is extremely important and you should not be only looking at trading fees alone since if they have a large spread but low fees you still will be losing money because of the difference between buy and sell orderbooks and that wouldn't make any difference and it could be even worse that using an exchange with higher trading fees but lower spread on their trading pairs.

[pankowri]

In my opinion, I like to use a decentralized exchange rather than a centralized exchange. But if you ask me to define a good exchange then I must say a good exchange can be defined as those exchanges which provide us good volume, liquidity, fund security, and customer support. In comparison to all, I can mention Binance exchange for my using preference.

[livingfree]

Exchange, if they say they only apply KYC upon reaching or wanting to have higher limits.

No need for KYC asking if haven't met the level and the trader is good depositing and withdrawing as long as he's not reaching the threshold. Because some exchange violates that rule that they are implementing.

[Kong Hey Pakboy]

A good exchange has a user-friendly interface that can easily understand by both beginners and professional traders. A good exchange should also have a high volume, good reputation, and high security because this is the kind of feature that users are looking for to experience no worries and convenience with their funds and portfolio.

[sayaya17]

All I want from an exchange is that first, he must have responsible, honest, hardworking, and qualified human resources. Don’t let it be because of Un quality human resources, users leave your exchange because it has a bad image. If the human resources on your exchange meet all the requirements, then your exchange will become a responsible exchange and keep the user’s assets safe. There are incidents, exchanges hacking user money, or user money being embezzled by the exchange itself.
It happened because of unqualified human resources. I want to find a trustworthy exchange. Can you and your team make it happen?
I guarantee your exchange will be successful and great. Give us trust to trade on your exchange.

 

[yohananaomi]

Exchange, if they say they only apply KYC upon reaching or wanting to have higher limits.

No need for KYC asking if haven't met the level and the trader is good depositing and withdrawing as long as he's not reaching the threshold. Because some exchange violates that rule that they are implementing.

I don't know why lately it seems like Kyc has become an important requirement to carry out every transaction, what is the urgency that is obtained by having to do Kyc, until now I have not received an explanation that can make this heart happy to finally want to do it.

agree with you that if kyc is only due to a certain threshold that they might want to see there should be no unreasonable exchange, this is perfectly acceptable and certainly with great pleasure. It is clear that we can still do and manage not to pass the predetermined threshold and this is no problem and it is quite fair.

[proTECH77]

Every trader never wish to fail in the trading process than to wish to achieve something good for the trade in the market. Many bitcoin trader are keep smiling base on the good exchange they have been experience over some months now that is making them improving in their trade system in the market. Good exchange always put smiles on the face of the trader thinking, that is how the market will remain favouring them for ever.
Bad exchange which many trader never want to see in their trading, not to allow them loose all their profit for the day. Many scammers are always find in the market trading fake product to look for some to scam in the market.

[Mart1ncrypto]

First of all, you need to have experience to distinguish a good exchange from a bad exchange. But only one experience is also not enough, you also need to compare the exchanges, as well as analyze the reviews to understand whether it is possible to trade on one or another exchange. One of these tools can be found here. This tool is convenient because it allows you to compare the exchanges you are interested in and choose the most suitable one.