How do you define a good exchange?

[Iranus]

I will choose the exchange which will have good background reputation and good history.
Moreover if there will be also no KYC then more people as me will like the exchange.

A good exchange must support KYC to reduce the high level of scammers infiltrating their site without proper documentation I personally don't invest in any site without KYC I feel more safer on sites where I had to pass through so kind of verification process. Scammers don't like using their documents so they avoid sites with KYC and that's what makes it more secured.

But most of the Bitcoiners are like to stay anonymous in this decentralised getaway. most of us do not prefer to share our sensitive documents with any third-party provider, it is very risky though. a third-party service provider may be lost our sensitive KYC documents or being hacked and leaked the documents so that scammers can use those documents in any illegal works or blackmailing the owner. So, I don't think KYC is good for preventing scams, personally, I don't like it.

[Murpheus]

I want to assume by exchange you are only talking about Centralized exchange!
To me it should have a minimum which one can withdraw without a need for KYC, and that minimum should be high enough!! If possible no KYC!
Must be super secured, I don't need any insurance, if it's secured enough you wouldn't need insurance in the first place!
The interface should be easily navigable!
Fees must be at fixed and at barest minimum, no matter the trade size!
What else? That's all!!

[perryxi2]

a perfect exchange is a good security exchange, all good services and very cheap transaction fees, I prefer to use FTX exchange, how about you?

[skyblueworld]

For me, security is real important. And so is customer support. It would be great if I could instantly any time get in touch with a professional who is an expert  in the field, to answer all my queries.

[CaVO32]

I want to assume by exchange you are only talking about Centralized exchange!
To me it should have a minimum which one can withdraw without a need for KYC, and that minimum should be high enough!! If possible no KYC!
Must be super secured, I don't need any insurance, if it's secured enough you wouldn't need insurance in the first place!
The interface should be easily navigable!
Fees must be at fixed and at barest minimum, no matter the trade size!
What else? That's all!!

You can't really be sure about the security of the platform up until someone tries to hack into their system. That's why for me, insurance is important just like what is present in Binance. Because even top exchanges boasting the security layer of their network, hackers will always be there and they will try and try with sophisticated softwares to hack into their system. No one is totally safe these days.

[Keila Faith Villanueva]

The first is to ensure safety and avoid negative news that will give users a negative impression of the transaction. And it is not easy to be attacked by hackers.
The speed of withdrawing coins must be efficient. This is the most important aspect of the comprehensive service quality of the exchange. Of course, I am talking about small amounts.
There are also easy-to-understand, complicated apps that I don’t like to use. :

[Connor Britton]

For newcomers like me who have just entered the field of cryptocurrency trading, I think that a good exchange should have a simple and clear interface, and it is best to have video explanations for new users; secondly, I hope I will be on the exchange The identity information registered on the website can be protected from being leaked; there are also transaction time and costs, hope to be controlled within a reasonable range; finally, I hope that this trading platform can have strong technical support, and there will be no hacker attacks. My wallet has been lost. That's all I can think of for the time being.

[awik p]

I want to assume by exchange you are only talking about Centralized exchange!
To me it should have a minimum which one can withdraw without a need for KYC, and that minimum should be high enough!! If possible no KYC!
Must be super secured, I don't need any insurance, if it's secured enough you wouldn't need insurance in the first place!
The interface should be easily navigable!
Fees must be at fixed and at barest minimum, no matter the trade size!
What else? That's all!!

You can't really be sure about the security of the platform up until someone tries to hack into their system. That's why for me, insurance is important just like what is present in Binance. Because even top exchanges boasting the security layer of their network, hackers will always be there and they will try and try with sophisticated softwares to hack into their system. No one is totally safe these days.

Therefore, as fund holders, we must be careful and anticipate if something worst happens. let's say we can use several accounts to break down the assets we have, so that if something bad happens, not all of our assets are at risk. for me binance is currently the main platform of choice, because without kyc we can withdraw up to 2 BTC

[kxwhalexk]

Although you did not specify whether you want to build cex or dex, (I guess cex).

Existing traditional old-brand exchanges, such as Binance and Huobi, you can learn from their operation pages. But you still have to add some innovations, such as kucoin's automated trading robot, etc.

[Tessnik]

I good exchange is an exchange that has unique features that are user friendly and easy to use by a novice trader, an exchange that has a low commission on trading and without withdrawal fees.

[Helpme_please]

There are so many crypto exchanges nowadays but I am only using at least 5 exchanges and what I am looking for in exchange is having the cheapest transaction fees, User interface, and user friendly. Binance is the best exchange for me which has the three things that I am looking for an exchange for.

and dont forget about trading volume , this is the first thing that usually traders look for. Every exchanges now developt their feature and interface well till we could confuse how choose one of them. Binance still be the most favourite for traders and investors due its trading volume and IEO feature which is have good profits history.

[breathlessz]

There are so many crypto exchanges nowadays but I am only using at least 5 exchanges and what I am looking for in exchange is having the cheapest transaction fees, User interface, and user friendly. Binance is the best exchange for me which has the three things that I am looking for an exchange for.

and dont forget about trading volume , this is the first thing that usually traders look for. Every exchanges now developt their feature and interface well till we could confuse how choose one of them. Binance still be the most favourite for traders and investors due its trading volume and IEO feature which is have good profits history.

from all the conversations that I read, it seems that all agree that binance is the most favorite platform. many already have experience with this platform, and from the volume, service, tangible product, and development that makes customers feel safe to use it. although there are still many good exchanges, but indeed we admit that for now Binance is the best

[BitTraderCute]

trading volume and fund security be my main reason while choosing trading platform.  Since many exchanges hacked and alot customer's fund be victim , now we must make sure that exchanges have insurance to cover our money if someday hacked. so we will feel comfortable when using their services.

[bonghip]

For me, I want an exchange that needs to be known and used by many people, which will make me trust it more, some of the requirements I always want in exchanges, like this:
- No KYC
- Low withdrawal fee
- Support multiple coins/token
- There is a large community
- 24/7 support
- Ensure asset safety for users
 ...

You can learn about Binance, MEXC or Kucoin, which seem to be good exchanges.

[boyptc]

trading volume and fund security be my main reason while choosing trading platform.  Since many exchanges hacked and alot customer's fund be victim , now we must make sure that exchanges have insurance to cover our money if someday hacked. so we will feel comfortable when using their services.

If someone chooses to put his huge fund onto exchanges, he really has to look for the insurance of an exchange whenever something bad happens. Although it's really a big and needed factor just like Binance.

But for safekeeping, one shouldn't put his entire funds to an exchange even if it's the most reputable.

[MIner1448]

A good exchange is determined not only by a high capitalization and a huge number of pairs in trading, the set of tools in the trading interface is also important, at least for me, especially when trading futures, not all exchanges are adapted as conveniently as possible for the user.

[Peanutswar]

It's too hard to define a good exchange it depends on your personal preferences like me I don't have yet a valid ID for example so I need to find an exchange that does not require having a KYC for making a trade or transactions.

Next one of my preferences is having a good market price that supports different technical indicators I used. When I define a good exchange it's a platform that supports the user's needs and wants to make it more convenient for them to use and transact.

[nurilham]

some of the requirements I always want in exchanges, like this:
- No KYC
- Ensure asset safety for users
 ...
You can learn about Binance, MEXC or Kucoin, which seem to be good exchanges.

In my understanding, all CEX (Centralized Exchange) require KYC. Some of them allow people to trade there without KYC only for a small amount. But basically, they require KYC for the users. If you want no KYC, you can trade on DEX (Decentralized Exchange) only.

Of course, all exchanges state that they are safe for people's assets. What you should know is how trusted the exchanges, means the reputation. So, choose the most trusted exchanges in the world.

Anyway, Binance, MEXC & Kucoin are CEX. They require KYC, mate. 

[Hamphser]

It's too hard to define a good exchange it depends on your personal preferences like me I don't have yet a valid ID for example so I need to find an exchange that does not require having a KYC for making a trade or transactions.

Next one of my preferences is having a good market price that supports different technical indicators I used. When I define a good exchange it's a platform that supports the user's needs and wants to make it more convenient for them to use and transact.

KYC is highly be in concern towards on choosing platforms because we do like to be decentralized and there are cex which are offering non-verified accounts and having 2 btc limit per day
which i would say to be sufficient for most users.

Defining a good exchange?
1. Good looking in terms of interface and graphics
2. Good support
3. Cheap withdrawals
4. Good liquidity or volume.

[Fredomago]

Defining a good exchange?

1. Good looking in terms of interface and graphics

yes, it adds up interest from traders to use the platform if the site use clean and attractive design.

2. Good support

Very important, most of the time complain are everywhere, if there's an accomodating support to answer every customer/users it's a plus factors to keep those people to continue using the service.

3. Cheap withdrawals

Also good factor since there are lots of competitions, providing much cheaper withrawal fee will also attract end users to use the platform.

4. Good liquidity or volume.

Traders always after this, with good amount of liquidity and volume it's easier to perform quick trades/ short trade strategy.