How do you define a good exchange?

[TWW]

each exchange has its own differences, I see that currently the most prioritized is the transaction fee.  if an exchange has a small transaction fee I think it can be faster to develop than an exchange that has a high transaction fee.  This is what many people talk about nowadays.

But what if the exchange has the lowest commissions, but there are many reviews regarding this exchange that it freezes accounts, or funds disappear from the accounts? Of course, all this can be avoided if you do not store your funds on the exchange, which will be the most correct decision. Probably the commission indicator is not the most important, although many people certainly pay attention to it.

Indeed, commission is one of the considerations for choosing an exchange in certain situations, but for me the security of funds is the most important, especially for those who use large funds, so they will prefer to use a trusted and recommended exchange. but for small-scale transactions, I personally prefer to use exchanges with low fees, but I don't put long-term funds there, I even withdraw them directly to my wallet, to avoid unwanted things

you are very careful with the security of your assets. but it's true. we just need to put our money in exchange only for traded assets. but for long-term investment assets, we can store them in a personal wallet.
but nowadays exchanges are also at risk of being hacked. no matter how good the system still needs to be updated. and we have seen how large exchanges have also been successfully hacked by hackers.
I prefer the high volume and also convenience that the platform provides. because I trade only for profit, so any way we are looking for a platform that can give us profit.

[virasisog]

each exchange has its own differences, I see that currently the most prioritized is the transaction fee.  if an exchange has a small transaction fee I think it can be faster to develop than an exchange that has a high transaction fee.  This is what many people talk about nowadays.

But what if the exchange has the lowest commissions, but there are many reviews regarding this exchange that it freezes accounts, or funds disappear from the accounts? Of course, all this can be avoided if you do not store your funds on the exchange, which will be the most correct decision. Probably the commission indicator is not the most important, although many people certainly pay attention to it.

Indeed, commission is one of the considerations for choosing an exchange in certain situations, but for me the security of funds is the most important, especially for those who use large funds, so they will prefer to use a trusted and recommended exchange. but for small-scale transactions, I personally prefer to use exchanges with low fees, but I don't put long-term funds there, I even withdraw them directly to my wallet, to avoid unwanted things

you are very careful with the security of your assets. but it's true. we just need to put our money in exchange only for traded assets. but for long-term investment assets, we can store them in a personal wallet.
but nowadays exchanges are also at risk of being hacked. no matter how good the system still needs to be updated. and we have seen how large exchanges have also been successfully hacked by hackers.
I prefer the high volume and also convenience that the platform provides. because I trade only for profit, so any way we are looking for a platform that can give us profit.

I personally prefer storing my long term investment in my personal hard wallet because I find it safer. Putting your eggs in one basket would be a lot risky since hacking is everywhere and that could possibly happen even in highly reputable top exchanges. Store funds in exchanges for a short-term period and trading purposes only and make sure to keep your long-term investment in a more secured wallet where hacking isn't possible.

[hashrateproducts]

I personally prefer storing my long term investment in my personal hard wallet because I find it safer. Putting your eggs in one basket would be a lot risky since hacking is everywhere and that could possibly happen even in highly reputable top exchanges. Store funds in exchanges for a short-term period and trading purposes only and make sure to keep your long-term investment in a more secured wallet where hacking isn't possible.

Exchanges are recommendable mainly for trading and they serves their purpose perfectly. There are various or numerous wallets, I use Binance which happens to be one of the most safest exchange in the space and difficult for some scammers to invade one's account, the only way that could happen is through phishing of spammed mails. Exchanges are used for trading but some traders and investors also stored their long term coins with exchanges favorable to them. I rather have my long term investment in a separate wallet like Trust wallet which only me can assess it with my 12 coded phrases.

[rby]

A good exchange is one that is secured, that won't lose people's money easily. A good exchange should not kill its customers with high fee. A good exchange is ine that doesn't list scam coins in their platform.  A good exchange should have good customer care services.

each exchange has its own differences, I see that currently the most prioritized is the transaction fee.  if an exchange has a small transaction fee I think it can be faster to develop than an exchange that has a high transaction fee.  This is what many people talk about nowadays.

But what if the exchange has the lowest commissions, but there are many reviews regarding this exchange that it freezes accounts, or funds disappear from the accounts? Of course, all this can be avoided if you do not store your funds on the exchange, which will be the most correct decision. Probably the commission indicator is not the most important, although many people certainly pay attention to it.

Many people  doesn't care about the commission, people that has much transaction volume they care about security much.

[r_victory]

In my opinion, a good exchange can be defined as good when it has liquidity, credibility, is innovative and transparent. Being very judicious in its listings, and committed to the safety of its investors.

[abel1337]

I personally prefer storing my long term investment in my personal hard wallet because I find it safer. Putting your eggs in one basket would be a lot risky since hacking is everywhere and that could possibly happen even in highly reputable top exchanges. Store funds in exchanges for a short-term period and trading purposes only and make sure to keep your long-term investment in a more secured wallet where hacking isn't possible.

Exchanges are recommendable mainly for trading and they serves their purpose perfectly. There are various or numerous wallets, I use Binance which happens to be one of the most safest exchange in the space and difficult for some scammers to invade one's account, the only way that could happen is through phishing of spammed mails. Exchanges are used for trading but some traders and investors also stored their long term coins with exchanges favorable to them. I rather have my long term investment in a separate wallet like Trust wallet which only me can assess it with my 12 coded phrases.

Not your keys, Not your coins. A simple phrase that I believe since the time I learned it. There are many recommendable and has a good reputation exchanges but it doesn't mean they are safe from outside risks such as hacking. Storing your coins on them for a very long time is just not advisable a dumb thing to do if you are an investors.

I hope no one here who is planning to become a long time investor plans to store their coins in an exchange for a long time because of the additional risk it gives you. Simply storing it on your non-custodial wallet could give you peace of mind about your investment security.

[dunfida]

I personally prefer storing my long term investment in my personal hard wallet because I find it safer. Putting your eggs in one basket would be a lot risky since hacking is everywhere and that could possibly happen even in highly reputable top exchanges. Store funds in exchanges for a short-term period and trading purposes only and make sure to keep your long-term investment in a more secured wallet where hacking isn't possible.

Exchanges are recommendable mainly for trading and they serves their purpose perfectly. There are various or numerous wallets, I use Binance which happens to be one of the most safest exchange in the space and difficult for some scammers to invade one's account, the only way that could happen is through phishing of spammed mails. Exchanges are used for trading but some traders and investors also stored their long term coins with exchanges favorable to them. I rather have my long term investment in a separate wallet like Trust wallet which only me can assess it with my 12 coded phrases.

Not your keys, Not your coins. A simple phrase that I believe since the time I learned it. There are many recommendable and has a good reputation exchanges but it doesn't mean they are safe from outside risks such as hacking. Storing your coins on them for a very long time is just not advisable a dumb thing to do if you are an investors.

I hope no one here who is planning to become a long time investor plans to store their coins in an exchange for a long time because of the additional risk it gives you. Simply storing it on your non-custodial wallet could give you peace of mind about your investment security.

People shouldnt really get that confident on storing up their coins even if they are dealing with the most reputable and known exchange that we do have today.We cant really be just sure that it would really be havingt

that 100% risk free kind of condition which it had been said and mentioned that about not your keys not your coins which is a simple common line where people should be baring up into their minds.
So that whenever there are certain events or conditions that might happen then you wouldnt really be just ending up on regretting just because you havent stick into the basic principle
about total security of your coins.

[Munir575]

It's really easy, the biggest exchange is the best exchange. Only because many traders go there to trade, which indicates that many people trust it, therefore in terms of the security of your money I think you cannot complain about safety for example to Binance. And in my opinion, the biggest exchange makes them famous, so why trade on a new exchange when there are already large exchanges that can ensure the security of your money?

[CPNpr]

At the same time I have sectioned which have many problems and also saw some exchangers which have many advantages and many disadvantages which should be avoided and those which are very easy to trade and do everything I think it would be better to use.

[LastKiss]

It's really easy, the biggest exchange is the best exchange. Only because many traders go there to trade, which indicates that many people trust it, therefore in terms of the security of your money I think you cannot complain about safety for example to Binance. And in my opinion, the biggest exchange makes them famous, so why trade on a new exchange when there are already large exchanges that can ensure the security of your money?

Well, I guess many exchanges serve different features at their exchange like their fees, their security, their interface, and their customer service are different too between a big exchange and a small one. Mostly I used an exchange that had good customer service and was not laggy because I'm not using high-end pc/laptop of course security comes first.

[stomachgrowls]

It's really easy, the biggest exchange is the best exchange. Only because many traders go there to trade, which indicates that many people trust it, therefore in terms of the security of your money I think you cannot complain about safety for example to Binance. And in my opinion, the biggest exchange makes them famous, so why trade on a new exchange when there are already large exchanges that can ensure the security of your money?

Well, I guess many exchanges serve different features at their exchange like their fees, their security, their interface, and their customer service are different too between a big exchange and a small one. Mostly I used an exchange that had good customer service and was not laggy because I'm not using high-end pc/laptop of course security comes first.

One of the main things on where people do matter most is about KYC and since this had become a standard then it seems that people are already gradually accepting it yet there's no other way since

government regulations do really becomes even more tighter as the years passing  and this is something inevitable.People would really be just mainly be focusing on what a platform can offer.

Also, GUI/GUX are also a factor for people to decide and some good reputable standing on overall market and also with its popularity.
You could already determine on what are those qualities when you do look on most popular and reputable exchange platforms as of today.

[Alert31]

When choosing an exchange, people are concerned about transaction fees and security. Some exchanges have very high fees which I don't like either. Also the security should be strong so that you feel secure in your funds. So, I think the best exchange is the one that has many users and is trusted by many traders with high volume and already popular.

[RockBell]

Looking at binance , kucoin and other exchanges from there service been given everything is in other there support is active one there is an issue you can massage them and you get an instant reply from them  compare to some exchanges  they , for me I use exchanges that am familiar with am always scared of new exchanges , so as for me good exchanges have good service.

[wiss19]

It's really easy, the biggest exchange is the best exchange. Only because many traders go there to trade, which indicates that many people trust it, therefore in terms of the security of your money I think you cannot complain about safety for example to Binance. And in my opinion, the biggest exchange makes them famous, so why trade on a new exchange when there are already large exchanges that can ensure the security of your money?

I think you got a point there. How can they become big anyway if they are not good right? But I think that big exchanges still have some issues or disadvantages like they are too strict, they require a KYC, the fees are high, and so on.

And I think some of us just don't like those rules but they better prefer a not-so-big exchange and experience the things that they truly wanted. At the end of the day, what important is one's satisfaction and not that you use it only because many people are using it. Anyway, it's been a long time since the @OP opened this topic, I wonder if what is the status of his project? I hope the exchange is still doign well.

[Sayeds56]

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

My first criteria to choose a crypto trading exchange is security system which should ensure protection against hacking as well as like Investor's fund should have insurance coverage like Binance does. The other factors like Liquidity, Easy & smooth withdrawal of funds, trading fee, daily trading volume of exchange and number of trading pairs available for trading are also important to make your investment/trading profitable on exchange.

[AnonBitCoiner]

For a good exchange first of all there should not be a fake Volume like most of other exchange doing. Kyc should not be so difficult because most of investors does not like kyc option because of privacy. For good exchange I think its must task to do some marketing and should be available for all countries. Credit card buy and sell fee should be very low. Withdraw and deposit should be instant.

[blockman]

Looking at binance , kucoin and other exchanges from there service been given everything is in other there support is active one there is an issue you can massage them and you get an instant reply from them  compare to some exchanges  they , for me I use exchanges that am familiar with am always scared of new exchanges , so as for me good exchanges have good service.

I agree the support of good exchanges is the one that makes them popular with everyone. It's an important part of an exchange when they're easily approached for any issue that a customer has met. Because if they're not that easy with their support and they're making it hard for a customer to reach them out, that's where most of the customers are going to be out because no one is there to help there on their own platforms.

[BobK71]

A crypto exchange investor's main goal is to protect his assets. In other words, safety is his first concern. The second one is the trading commission of that exchange, followed by the popularity of that exchange. If you agree with some of these things positively, then you can keep it in your list of good exchanges.

[Sayeds56]

each exchange has its own differences, I see that currently the most prioritized is the transaction fee.  if an exchange has a small transaction fee I think it can be faster to develop than an exchange that has a high transaction fee.  This is what many people talk about nowadays.

But what if the exchange has the lowest commissions, but there are many reviews regarding this exchange that it freezes accounts, or funds disappear from the accounts? Of course, all this can be avoided if you do not store your funds on the exchange, which will be the most correct decision. Probably the commission indicator is not the most important, although many people certainly pay attention to it.

I think we need to think carefully before making an account on any side so that we don't face any problem later because we need to act after thinking carefully and if we act on a snap decision then we have  We have to face problems so think that most of the time we will do things by thinking

You are absolutely right protection of Investors funds is most important factor before we decide to join any exchange and I think Coinbase & Bianance exchanges maintain reliable  security system as far I know but of course there are other exchanges who might have equally reliable security system but I have experience of dealing with only these 2 exchanges. Sometimes passwords and even two-factor authentication can’t protect exchanges due to authentication by-passing issue which also makes your account vulnerable to hackers attack. This is also  vulnerable area  which we need to look at exchanges protection system against such threats. DYOR

https://ideasoft.io/blog/the-best-crypto-exchange-security-features/

[gunhell16]

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

It's been about five months since OP started this topic here in the forum. How is he? Has he created or started his own exchange in the crypto space? Maybe OP somehow got some great ideas from those who have been in the cryptocurrency industry for a while.

We know that setting up your own exchange is no joke and there is a lot to submit to the government agency, and it also requires a large amount of money before you can operate. And he can't handle it alone of course.

But I don't think he has made his own exchange yet because if he has one, he will immediately announce it here on the forum in my opinion.