How do you define a good exchange?

[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.

You are right, many of the peoples are follow your methods. At the same time you forgot some tricks of trading exchange, Because many trading exchange was available in the market. But few only lead the crypto market so demand and high volume exchanges are always active in the market. If those are analyse the  good platform in the market, Binance is the more comfortable for all the investors.

I don't argue that the Binance cryptocurrency exchange is very popular and very good in terms of investment. But there are many other good exchanges as well. For example, it is important for some of the traders that there is no mandatory verification on the exchange.

[1714699374]

1714699374

[dotcoin.info]

Why complicate things? Speed, liquidity, design, security. All that is needed to determine how good this or that exchange is. The longer the exchange works without hacking, the greater the level of trust can be determined in it.
Security should be in the first place, since you entrust your funds to a third party, which means that it no longer depends on you what will happen to your funds in case of serious problems with the exchange.

[JahriMeayer]

good exchange should provides us safety & security. It should caes about user privacy.the reason behind bitcoin populaty, its possible to transaction without reveal the identity.so it will be better for exchange, to allow user for trading & withdraw fund without asking kyc verification. although kyc isn't a big deal if the exchange itself reveal their headquarter location as theirs identity, provide good support service for their consumers and also avoid fake liquidity in their exchange

[BuNga_cute]

Everyone certainly has different standards regarding good exchanges, For me a good exchanges should give users safety and comfort.
So hearing what users want is what exchanges need to do, with many exchanges getting hacked, this means that the main thing is that
the security exchanges must be good. So users are not afraid that the coins they have will be lost.

[TitanGEL]

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.

 

Reputation is everything, once a gambling website's name that been tarnished; expect that the reputation will slowly to crash where a lot of investors or traders that are currently using it will fall apart where they will switch into another exchange. Service of the exchange is the important part wherein there should not be any glitches in using the exchange, there should be no lag at all because I experienced to use a lag exchange before where I really got frustrated and also a exchange that have a good support team. Look also to the review of the others especially those who first experienced to use that exchange but not all of reviews are good because some of them are just promotion where they are deceiving a lot of people. Concerns in trading is inevitable and the only way to have an answer to our concerns are by communicating to their support wherein there should be smooth and fast replies.

[elisabetheva]

good exchange should provides us safety & security. It should caes about user privacy.the reason behind bitcoin populaty, its possible to transaction without reveal the identity.so it will be better for exchange, to allow user for trading & withdraw fund without asking kyc verification. although kyc isn't a big deal if the exchange itself reveal their headquarter location as theirs identity, provide good support service for their consumers and also avoid fake liquidity in their exchange

that is the advantage of bitcoin because every transaction is guaranteed security and it is not known what is the ins and outs of bitcoin holders. So it is true that you say that to do any form, KYC is not needed, which is clearly still a dilemma for many people because confidentiality cannot easily be ignored by the public. especially if the person requesting KYC is unknown or has no clear legitimacy.

[Hasmizara]

The exchange feature is a lot like reading socks since exchange doesn't matter which sock I read first. Conversely, underwear and trousers lie but not exchange. When we buy an item the exchange feature is observed in paying its price. doesn't matter what the price of the item is the total price will always be the same. Regardless of the broad goals you can achieve the market needs to be well-researched to protect itself before a successful exchange can take place. Nothing can ever be done without hard work exchange sites need to be verified for reliability.

[blckhawk]

Why complicate things? Speed, liquidity, design, security. All that is needed to determine how good this or that exchange is. The longer the exchange works without hacking, the greater the level of trust can be determined in it.
Security should be in the first place, since you entrust your funds to a third party, which means that it no longer depends on you what will happen to your funds in case of serious problems with the exchange.

One more thing and the way we look at the good exchange was almost the same. Speed, liquidity, the design could matter as well, it would be much better if it is user-friendly, security the most important among these factors, and lastly, the reputation. I am looking for the reputation as well if the campaign's reputation has been tarnished, no matter how secure, and speed it is I will have a second thought on using it. Besides I choose based on where the vast majority comes in like Binance, for example, the current most popular and leading exchanges leaving a place at the top among them all.

[Saisher]

Reputation, security and liquidity are everything the exchange should have these three, one of these is missing and there is not worth trading on that exchange, there are a lot fo exchange with good reputation and security but lacks liquidity on the paid on their platform, so far these are on top of my list, Kucoin, Binance, MXC I an actively trading on these exchanges and they all the three criterias.

[imstillthebest]

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.

Experience is needed everywhere. However, the good one can be found even without any exchange experience. Pay attention at the history of the service. You can find reviews about almost any site on the net and on independent forums. If there is no feedback, there is no exchanger.

i used an exchange once but not much often but despite of my small experience i was thankful that there is this forum and its lovely users that can differentiate an exchange for me or to other people that dont trade actively .

the tool given above by Mart1ncrypto is also helpful aside from this forum .
exchange being user friendly has a big appeal to me and i dont really care much on other features because im not that pro but what important is that i can my coin with less stress on how to figure things like this and that

[koang]

Security will always be the top priority of every trader, after that liquidity, transaction fees, design, and customer service

But for a newly established exchange, customer service will be the key to building a reputation.
The prompt and responsive interaction of customer service is essential. They must ensure that all problems faced by traders (customers) are resolved quickly and precisely.

[DoublerHunter]

Security will always be the top priority of every trader, after that liquidity, transaction fees, design, and customer service

But for a newly established exchange, customer service will be the key to building a reputation.
The prompt and responsive interaction of customer service is essential. They must ensure that all problems faced by traders (customers) are resolved quickly and precisely.

^ If the decentralized exchange has a good liquidity and trading volume, I prefer to use this rather than on a reputable exchange. Because there is no good centralized exchange as of now, they are all vulnerable to a possible hack that most popular exchange has been done lately. Some traders are no choice is to grab the opportunity and willing to risk their money sending on the centralized exchange that could probably lose any time when the hackers will attack. For now, so far, the Binance exchange is good because they had secure your fund and below 2 bitcoin you can able to trade without having KYC.

[Ratash]

In my experience the exchange that attract people need to be easy and fast to use and it has to choose the coins to list wisely to avoid scam and shitty tokens and the withdrawl fee must be low because some people when they need small transactions if the fee is high then they won't be able to withdraw their coins.

[Mehedi72]

Security and liquidity both of two are given the first priority by mine. Any exchange can consider useless without having liquidity.besides exchanges are getting hacked nowadays, even top class exchange which has strong security,  can't protect them from hacking.as a result, hackers taking our money & makes us helpless.because most of exchange won't give your fund back but binance has insurance where assure that, they will give your fund back from their fund if any unexpected happens

[minhkhoa]

For me, a good exchange must have the following requirements: Safe and highly secure for users, The trading system must be fast, the number of participants is large and the total transaction is large, there must be diversified Altcoins for investors to have a lot of choices.

[TradingBull.io]

2019 surveys among crypto traders found that the main problems and criteria of choice when selecting an exchange were:

•   Security and trust
•   Trading Fees
•   Liquidity & pairs variety
•   User interface
•   Customer support
•   Withdrawals fees

https://bdcenter.digital/insights/cryptocurrency/survey-crypto-traders

Is that the same for you?

[Untomabur]

giving meaning to a good exchange platform is very easy, only with trading volume and security,
because volume is very important for a trader, if the volume is large then the spread in the order book will also increase,
of course this makes traders comfortable.

[shata]

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

Before answering your question, let me tell you first that current exchanges in the cryptocurrency industry is around approximately more than 33,000 while alternative coins are around 7,800, these are just listed on coinmarketcap. In that 33,000+ exchanges, only few stands up and is currently dominating the cryptomarket in terms of volume. That is the 1st (first) key for an great exchange volume. Volume entails liquidity, which means anyone at anytime can buy or sell his/ her bitcoin or alternative coin (based on the coin though).
Second one that people consider are security of these exchanges. Majority of whats in the internet can be penetrate with all the hackers in the internet, it means, anything can happen. So the good thing to do is to ensure your clients, the traders, that there money in your exchange is safe. You can also offer insurance like binance, they have #SAFU, they have % of their profits locked to be a fund in case anything happens. There are still a of things to be considered, so be mindful in creating an exchange before spending a lot. Cheers!
These are a lot of exchanges and thats why you need to understand that you will need a lot of effort, product development, marketing, etc to stay in this industry.

[DarkDays]

Security and liquidity both of two are given the first priority by mine. Any exchange can consider useless without having liquidity.besides exchanges are getting hacked nowadays, even top class exchange which has strong security,  can't protect them from hacking.as a result, hackers taking our money & makes us helpless.because most of exchange won't give your fund back but binance has insurance where assure that, they will give your fund back from their fund if any unexpected happens

I agree. While high liquidity means you don't have too wait for too long until your transaction is completed because there's enough liquidity pool so you're not being wrecked by large spread, security is also regarded as instrumental to determining a good exchange.

At the end of the day, there's little value in having high liquidity and trades volume if your assets are not safe and secure. Security therefore it is one of the things that can 'make or break' an exchange.

[Om.monata]

security, low fees, good volume and a huge selection of tokens to trade .. this is the best exchange for me and many people. so if there is an exchange that does not meet the above requirements, you may be questioned how the exchange is performing