Which unique factor makes crypto exchange a reliable choice to start trading?

[guoyu78]

What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?

The whole exchanges you have mentioned are all good exchanges. As for the main thing that makes an exchange a reliable choice, I believe security is the number one thing that matters most. Security is very important, cause there are exchanges that are not secured and they are the ones that keeps getting hacked here and there and users losing their hard earned money.

So you should avoid any exchange that doesn't have enough security, if you don't want to fall victim. Second important thing is their customer support, followed by how good their site is.

[TravelMug]

I like to trade on Binance because the site doesn’t require me to verify my account to start trading, unlike many other major exchanges, and the exchange also has a decent Android app that I use to make a few trades on the go. Nothing extremely noteworthy besides that, as the desktop UI for the site is pretty average,  but no verification alone is excellent and that’s the main reason why I use Binance so often.

I think many exchanges do not require verification of data, but of course the facilities you will get will be limited, for example if you do not do KYC then there is a limit for withdrawal. but as long as you transact below the limit, you don't need KYC.
what I choose in Exchange site is that they have fast response customer support and have high responsibility of every problem

Of course your have limited withdrawals, but for casuals who don't trade that much, Binance will be a good place to start. However, we heard it was hacked lately, so I'm sure this could be another factor to look at in the future.

Yes, customer support is one thing to look at as well, remember Yobit who has so many complains about it's poor customer service? and that is why they are one of the most hated trading platforms. UI is almost the same for all exchanges, so that is a non-factor for me.

[Whaleagent]

Security, actually If I wanted to open exchange I would take a closer look at Binance and Bittrex. They have the best Security out there.

[jessicalea]

Do you think integrating custodial services (like BitGo) into crypto trading platform is best for traders?

[jrrsparkles]

What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?

The whole exchanges you have mentioned are all good exchanges. As for the main thing that makes an exchange a reliable choice, I believe security is the number one thing that matters most. Security is very important, cause there are exchanges that are not secured and they are the ones that keeps getting hacked here and there and users losing their hard earned money.

So you should avoid any exchange that doesn't have enough security, if you don't want to fall victim. Second important thing is their customer support, followed by how good their site is.

Binance faced a security breach few days beck but they said all the user funds will be refunded so which makes the iance as better exchange among the other who never update anything about the hack and also don't give any refund for the lost funds.

[South Park]

What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?

The whole exchanges you have mentioned are all good exchanges. As for the main thing that makes an exchange a reliable choice, I believe security is the number one thing that matters most. Security is very important, cause there are exchanges that are not secured and they are the ones that keeps getting hacked here and there and users losing their hard earned money.

So you should avoid any exchange that doesn't have enough security, if you don't want to fall victim. Second important thing is their customer support, followed by how good their site is.

The problem is that no centralized exchange is secure, binance was hacked recently and they lost more than 40 million in assets to hackers, while the amount is small compared to the amount of money exchanges manage, it is a huge hit to the trust of that exchange since it is impossible to know if this is going to happen again, so while binance and many other exchanges are good we really need decentralized exchanges so hackers cannot get those huge amounts of money in a single hack.

[greenclub09]

to my opinion, when a new exchange is released the important thing we care about is how much advanced the exchange is and where it is released for us to use it to bring back more investors to the exchange, the final factor is the community supporting it if the have a good developers and huge amount of people promoting it to the world.

[dunfida]

What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?

When we do talk about factors on why these exchangers do succeed out on getting some marketshare or most of it then it would be;

-Their service, giving out the best which they do able to cater with their users needs. UI+Good support+Reasonable trading fees+ Consistent good performance.

[Osarman]

What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?

If we similarly start comparing, there would be a tons of advantages behind why peoples choose decentralized trading over centralized trading. Peoples find their profits in here by investing in some highly active coin to make their profits turn the graphs in front of their eyes. Also investing into something which has high volatility then the centralized currency makes the decentralized currency more popular to trade into.

Also there are a thousands of coins which gives us plenty of options to invest our funds proportionally in various coins to make higher profits. The trading volume matter according to me and these exchanges may perhaps be in competition because of the trading volume.

[Ararbermas]

What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?

it's because of being so reliable and very provably fair sites which common reason more ppl still make comparison  about it.  Actually those sites was very secured which no problem to stock money , and the good things " kyc " doesn't exist on each of that site you've mentioned above .lol

[SirLancelot]

What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?

The whole exchanges you have mentioned are all good exchanges. As for the main thing that makes an exchange a reliable choice, I believe security is the number one thing that matters most. Security is very important, cause there are exchanges that are not secured and they are the ones that keeps getting hacked here and there and users losing their hard earned money.

So you should avoid any exchange that doesn't have enough security, if you don't want to fall victim. Second important thing is their customer support, followed by how good their site is.

The problem is that no centralized exchange is secure, binance was hacked recently and they lost more than 40 million in assets to hackers, while the amount is small compared to the amount of money exchanges manage, it is a huge hit to the trust of that exchange since it is impossible to know if this is going to happen again, so while binance and many other exchanges are good we really need decentralized exchanges so hackers cannot get those huge amounts of money in a single hack.

Even binance is one of the decentralized exchange I guess. There are peoples who active trade on binance and also store specific amount of funds into those wallets. If these kind of exchanges are been hacked then most of the community would be confused whom to trust about the security of their funds. Exchanges needs to be more secure and should try to maximize their security. The current hack was due to the 2FA authentication perhaps.

I have not yet read any sure shot news about the same but can expect soon so that we can know how exactly it happened. These exchanges should be trustworthy and I think that they would surely make some great moves now.

[semobo]

What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?

it's because of being so reliable and very provably fair sites which common reason more ppl still make comparison  about it.  Actually those sites was very secured which no problem to stock money , and the good things " kyc " doesn't exist on each of that site you've mentioned above .lol

Binance already faced a security breach and the no KYC is for lower daily limits.But they have better customer support than other exchanges which made them to be top crypto exchanges.

[Reid]

Security will always be at the top. No doubt about that and same with the answers of legitimate users here.
For me, next thing will be the user friendliness of the application.
Binance is one of the easy to use application and also they added an Android OS version which is and excellent move.

We are in an era now where every human being is holding a smartphone anywhere. With their android app it gets easier to see your trade wherever you are. Just needs some safety precautions to avoid damages.

[neonshium]

What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?

it's because of being so reliable and very provably fair sites which common reason more ppl still make comparison  about it.  Actually those sites was very secured which no problem to stock money , and the good things " kyc " doesn't exist on each of that site you've mentioned above .lol

Binance already faced a security breach and the no KYC is for lower daily limits.But they have better customer support than other exchanges which made them to be top crypto exchanges.

They have more costumer support because they are great exchange. See the people who lost their coins due to the hack would be compensated by the exchange and this is something very rare. Had this hack happened to another exchange, they would not have made it so high again. Though there are still security concerns, there are still hug users on the exchange.

[Whosdaddy]

What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?

While trade the traders have seen many things before starting the trade on the exchange. Traders look about the exchange reputation, security, volume a  many more thing which gives a clear indication about the exchange. Volume and security are the most important factors and traders have a focus on these factors to find a better exchange.

As well now many good exchanges providing a user-friendly experience on their sites and now most of them have their own Application to provide amazing experience on the smartphone too. So the exchange who provide great service, security, and other good features can become able to attract users towards it. Because this is what a trader needs to look before doing trading.

[d1ceplayer]

What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?

When we do talk about factors on why these exchangers do succeed out on getting some marketshare or most of it then it would be;

-Their service, giving out the best which they do able to cater with their users needs. UI+Good support+Reasonable trading fees+ Consistent good performance.

Indeed true. Those who become the finest exchanges in the market right now which have been providing the best service since from the beginning to till now. Also, they use many different strategies to promote the project on various platforms. As we can see many good exchanges gives a discount of tracing fees to gaining users.

They always work hard on exchanges and keep themselves up to date as per the time market chances. Their main factor is security to gain users attention towards the platform. They never compromised with the security of exchange and that's the reason enough to beat the competitors.

[kaya11]

Some exchanges are almost the same and it is hardly to specify what is unique between them. So I basically trade with exchanges that are rated by most users. They are most likely experience than us so it is better to take their advise and ratings between the exchanges. But if  I were to choose the factor that considers me trading on an exchange is that their customer support. If the team is very reliable in trouble shooting assistance then they would be and edge for me to rate them a good exchange. 

[Shenzou]

What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?

To be honest all of these exchanges are just one of the original ones, and have been in the market for quite sometime, and currently there are more exchanges than we can handle and it is hard to tell the real one from the fake one as there have been many scams, so it is just better to go with the most trusted ones and the ones that already reliable, and if someone were to make an exchange website these days they would have to offer something new and interesting in order to compete with the other ones.

[Oceat]

People choose them because they have what other exchanges don't. Like quick response of the support, easy withdrawal/deposit without hassle, only ask KYC if you pass the limit of withdrawal and deposit. And most especially in Binance their CEO is taking a serious action if there is something wrong in their system. That's what people like, they know how to handle their customers.

[malikusama]

What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?

According to my perspective the key and prominent reasons behind the success of top cryptocurrencies exchanges that you have stated are :

1. Security.
2. User friendly Interface.
3. Good technical and financial support
4. Good management.