How do you define a good exchange?

[Kulkhan]

I Think the best policy to define a good exchanger is showing forum discussion. Here comes all traders. They comments what exchange is good and what exchange is bad. So i get proper news from Bitcointalk Forum.         

[Quidat]

What I like best in crypto exchanges is low fee fees and fast transactions. Because each exchange has a different fee, and to make it easier not to allow KYC.

I don't think low fees and fast transactions are factors to determine a good exchange because I see a lot of exchanges have the same advantages but people still underestimate these exchanges when its advantages cannot compensate for the problems and risks it can bring. In my opinion, I think the factor to determine good exchange is probably the volume of transactions, quality of service and security, low cost is not so important, important is still safe and we can trade on a vibrant platform full of opportunities

Many people base it on volume but I don’t work with volumes that much but quality of services and other things you also mentioned in your point, some exchanges have really used volume to deceive and manipulated a lot of traders since it’s something they can tamper with easily.

I even prefer to see ones with low volumes, it is when they don’t have volumes at all that I overlook them, but provided they have volumes, whether low or not, I can still give them a try, most big exchanges started somewhere and since this volume factor too is what we use to judge them, they manipulate the volume and deceive people into checking it out.

Manipulated volume doesnt last long and those stats will just bring back to normal after a while thats why always checking out the exchange before using it up.
Checking out volumes on each trading pair isnt really that hard and yes,these is one of the indications on where a good exchange would be. The more volume it has the
more users it have but as said this isnt only the thing you should rely alone when choosing up.

[shesheboy]

In my opinion, a good exchange should have a nice and friendly interface and quick accessibility. Good support, High trading volume, Low trading fees, instant deposit and withdraw that's it.

seems too good to be true but actually only few exchanges have all this kind if features because its not easy to have this all  . there is no perfect exchanges . popular and top exchanges do always have an issue but they will be fixing it from time to time  .

I Think the best policy to define a good exchanger is showing forum discussion. Here comes all traders. They comments what exchange is good and what exchange is bad. So i get proper news from Bitcointalk Forum.         

this is another way to know if an exchange is good or bad because users will give thier feed backs but there are also exchange that are not being discuss on this forum or on other forums yet that does not mean that they are already bad exchange  .

[raven7886]

For me, a good exchange should have a simple yet nice website design, fast respond to customer support, friendly staff, secured wallet, and low trading/withdrawal fees, I'm a small-time trader so I want to save any profit I got from my investment.

You have said it all, the Op might just have to compete with some exchanges, because when it comes to trading fee, I am not so sure he will be able to compete with some exchanges like Binance, before he will be able to talk of low trading fee, he must have really gotten enough volume that will assist him in deciding on reducing the fee, which usually take lots of years.

Anyway, he can compete with other attributes, such as the ones you mentioned and I am sure that if he tries his best, the sky might decide to favor him and be his limit.

[novaprime]

In my opinion, a good exchange should have a nice and friendly interface and quick accessibility. Good support, High trading volume, Low trading fees, instant deposit and withdraw that's it.

This forum can give you a lot of good choices to choose from, but you also need to be careful with these exchanges because it will certainly not be as safe as you think and if you have problems giving In that case, you should give negative ideas to make them better. Currently many new exchanges are in a way to attract investors and if it is an exchange that is trusted by people, you should consider using it because it will be very good for making a profit.

At this time there have been so many new exchanges that have sprung up, but even they have missed a number of important things that are really needed by users. If you want to make a good exchange then at least prioritize customer service that is ready at all times and also has good security and is easy to use.

We can't stop them, they will try to operate because of the potential in this market.
Binance which is the most popular exchange now are making huge money because their trading volume is so high, for sure new exchange's goal
is to maximize their income but it needs time to build reputation and people now are wiser, they will ensure they trade in a liquid and reputable exchange.

All exchanges are expected to earn big profits just like Binance and they are trying to be able to best develop their platform. I think in the future there will be great competition because people often tend to choose new exchanges with a better interface or want to find the best possible investment place. This will definitely make the market better and people have more options besides Binance

[cybersofts]

No. There are too exchanges too just the coins / tokens. Unless you have a huge amount of money to invest in to your new exchange from development, infrastructure, security and marketing. I suggest you should go in to bitcoin mixing service if you have the money, skills and expertise.

[tadpole_bitfrog]

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

A good exchange is when it allows traders to order stoploss and have a low transaction fee. Besides, exchange should have good security to commit to keep the assets for traders. That's the minimum that a good exchange needs.

[Insanity]

Defining a good exchange for me hmmm.

I do say based on my experience to be a good exchange:
 • Fast Customer Support
 • Good Security
 • Friendly Used
 • Low Transaction Fee
 • Does Have a Good Positive Review

[Lugdunex]

Wow, I was not on the forum this last week, I'm glad to see all these replies!
I will collect all of them and create some stats in order to rank them.

Feel free to continue posting replies whenever you want, I will manage to collect them as well.

[99subsats]

Guys what do you think of mpcx's exchange?? They released the demo version on https://mpcx.co/ and they're also launching an IEO on probit but still I'm a bit sceptical...

[bitcoin31]

If you want to buld good exchnages site you need to know what is most wants of the traders and you must know what they did not want.
mostly we are using exchanges site if the coin most listed is potential and also have high security and friendly features compared tot he other exchanges site who hard to understand. You need to priortize the trader in all time.

[sopanbmp]

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

The most important things on the exchange is Safety including privacy guard for the costumer, also you can add some promotion perhaps? to increase Volume on your exchange. and that is not less important is low fees
many exchange on this days the fee is so ridiculous, you can setting up for this recommendation. Good luck wish you success and don't you dare to do a bad thing  

[Polar91]

There are many factors to define a good exchange; it depends on you if their features suits to you. However, I have known some main facotrs which I think everybody will agree. A good exchange must be user friendly, has low fee, optimized, and lastly it doesn't not support shitcoins.

[Barbut]

Defining a good exchange for me hmmm.

I do say based on my experience to be a good exchange:
 • Fast Customer Support
 • Good Security
 • Friendly Used
 • Low Transaction Fee
 • Does Have a Good Positive Review

All of the above is necessary for one exchange to be successful. Nobody normal wouldnt use exchange without this conditions fulfilled. I`m using more than one exchange, reason for that is that not every exchange have same coins, same volume for those coins. New exchanges offer good promotions, now its trend that almost every exchange have its own token, I`m trying to be up to date with that, to have some binance tokens, kucoin shares, and some others.
In just couple years we have so mane exchanges on a rise, and couple of them crashing. New ones are coming and look what binance did in just short time, more than all other exchanges until now. Now you need to be a magician to break your way to the top.

[BigTeeths]

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 just want everything fast in the withdraw and deposit time. Less fee when I made my successful trades and the same as withdrawing as well. I I also want a lot of volumes and seriously less shitcoin because even top exchanges just keep adding more and more.

[aervin11]

I want to build a good exchange, and for that I need to know your preferences.

I would suggest you to make your exchange have a better live support, great user interface, no lags, reasonable amount of trading and withdrawal fees, fast transaction confirmation, poll system for customer request, and a good standard for listing new coins to be traded.

I forgot, you need to be as secured as possible to keep your customers safe and please listen to them, they are part of the community the crypto sphere wants to take care of.

[Japinat]

There are many factors to define a good exchange; it depends on you if their features suits to you. However, I have known some main facotrs which I think everybody will agree. A good exchange must be user friendly, has low fee, optimized, ....

A decent exchange with a good volume does not really offer low fees since they are making money from it, so we can call it a competitive fee.

and lastly it doesn't not support shitcoins.

This one is hard to debate, we have different opinion on a certain coin, some sees an opportunity on a certain coin some sees it's just a shit coin.
However, if we will call it a scam coin, it would be easy to understand.

[Gaff]

There are many factors to define a good exchange; it depends on you if their features suits to you. However, I have known some main facotrs which I think everybody will agree. A good exchange must be user friendly, has low fee, optimized, and lastly it doesn't not support shitcoins.

That's good to be involved with user friendly exchange, but make sure it won't frustrate you in the end knowing that their trading site was lack of security in funds management. However, it doesn't matter if an exchange site definition was of complicated process as long as it provides us definite actions which entitled a secured trading activity. Don't care with the fees whether it's high or low because if you wanted quality support of an exchange it must be worth the price. Well, its their prerogative if some shitcoins are present with their trading; just focus on what coins you're going to trade.

[Annalise24]

I think a good exchange is one that has a very smooth and user friendly interface that even a noob could be able to navigate through the exchange without any guidance .
A good exchange must have support staffs that are proactive in handling of issues if concerns to users and many more.

[sujonali1819]

I have read some replies in this thread and see that most of the definition of a good exchange is similar to each other.
But this reply is quite different from other definition.

Insurance is the only thing currently that I want and expect from an exchange. It could be hacked anytime but if it has an insurance, there is a possibility we could get back our investments. KYC is not such a problem if the exchange does have an insurance.

Really you have indicated a good thing that is really needed for every exchange so that The trader can trade freely without any afraid about hacking. But I think there is no exchange will take this step so easily. Thanks