Why can't we have a good cryptocurrency exchange?

[arpon11]

Ima be blunt, based on the fact that loads of people are still without exchanging trade pairs because the likes of binance and such have decided to close deposits indefinitely (gcse computer science and business for us teaches how to develop disaster recovery regimes) so the fact that high profit exchanges can't do it is just off.

Most of these exchanges do stuff with customers money too while on there especially if they haven't withdrawn for a long time. Coinbase, poloniex, bitmex and binance I believe will all be susceptible to this, as well as bitfinex who have already proven how great their money management strategies are (I luckily only had a dollar on there at the time of that hack)...

Most of the exchange we have now especially the centralized one are not regulated and that is the reason why some owners of those exchange are temporary with fund from the investors and traders on their trading platforms.  If regulation is there we would not have all those issues.  For the op I think we are going to have some reliable and good exchange in future and because crypto market is at the beginning stages, we are seeing some problems with exchange platforms.

[pawanjain]

I get your perspective and I can say that if you think from such a perspective then you will never find a good crypto exchange.
I will consider Binance still a better exchange than the other exchanges. Until a system is connected to the internet, it is prone to get hacked.
No system is safe! The only thing we can do is to possibly safeguard the system from every aspect. Binance did try to safeguard it's website and it was successful until the recent hack.
Binance knew that such an attack is possible and there is no getting away from it which is why it has been saving funds for such an attack.
We should be happy that our funds are safe rather than thinking which is a better alternative to Binance.

[UNOE]

It depends on your purposes, if you want to store your crypto on exchange for long term, you will never find secure exchange. Decentralized exchanges, where you hold your key is probably best option.
If you are daily trader, than you can find great exchanges with good UI, but you have to choose centralized platforms like Binance, Bitfinex, Bittrex.
If you are not trading more than once a week, you should consider moving your funds to secure hardware wallet, or even mobile wallets (less secure) but they are an option. From these two wallets you can exchange your crypto through shapeshift, changelly, or other providers with additional fee.

[emmybd]

We don't know much about the recent hacking attack on binance, whether it is an inside job or not, but binance is considered one of the best exchanges. I believe that exchanges need to do more to secure investors funds.

[huhhuh18]

I guess when it comes to issues like this, exchanges with fiat services have more dangerous positions than crypto-only based exchanges. The reason I'm saying this is because all the exchanges i have witnessed their hacks and poor resolutions were mostly having fiat services. It could be because of regulation issues and "lies" they tell us, but for those crypto-crypto ones they sometimes have a little reserve to pay out.

[BitBustah]

I'm still waiting for a good decentralized bitcoin exchange.  IDEX has served me great but they only have ethereum and eth based tokens to trade with.  No issues that come with centralization.  I still prefer to do btc trades directly with other people when I can so the middleman gets cut out.

[buwaytress]

The eternal tradeoffs people can discuss long and hard about, usually in the form of a centralised exchange versus decentralised exchange. CEX vs DEX.

Ultimately, until the most important need of all, which is liquidity, is solved by DEX (the bane of DEXs I've witnessed since 2016), then we're always going to have to deal with this problem.

I was hopeful even last year but now with 2019 whiling away and no DEX able to displace the big guns, I guess it'll be a long wait.

It's got to find a way to fix atomic swapping for mainstream the way LN is almost achieving for a true DEX to gain traction.

[dioanna]

Ima be blunt, based on the fact that loads of people are still without exchanging trade pairs because the likes of binance and such have decided to close deposits indefinitely (gcse computer science and business for us teaches how to develop disaster recovery regimes) so the fact that high profit exchanges can't do it is just off.

Most of these exchanges do stuff with customers money too while on there especially if they haven't withdrawn for a long time. Coinbase, poloniex, bitmex and binance I believe will all be susceptible to this, as well as bitfinex who have already proven how great their money management strategies are (I luckily only had a dollar on there at the time of that hack)...

there are lots of good exchange what you are looking is a perfect one
but such exchange wont exist for the creator itself is not perfect

[BitHodler]

I was hopeful even last year but now with 2019 whiling away and no DEX able to displace the big guns, I guess it'll be a long wait.

It won't even happen in the next couple of years. Development follows money, and the money is where centralized exchanges are. People should forget about dexes and just move on.

I am happy using local exchanging services instead of the main spot exchanges. I do pay a slight premium (1% on average) over spot, but that's for the convenience they offer, and it's of course a profit oriented business.

If I had to list the downsides, then it definitely would be them running out of coins, which happens when the price either pumps hard because noobs buy then, and dump hard because of smart people buying.

Support is superb. I can call them, visit them or just use their chat support function.

[bonker]

I think this type of thoughts will not came for everyone because they are using the changes commonly in all the time so they will perform well for them but some peoples will not been satisfied for their exchanges yes definitely the mistakes are having taking this but we need to clarify them to make the solution that is the way of next move.

[shesheboy]

I think this type of thoughts will not came for everyone because they are using the changes commonly in all the time so they will perform well for them but some peoples will not been satisfied for their exchanges yes definitely the mistakes are having taking this but we need to clarify them to make the solution that is the way of next move.

you cant blindly say that the exchange that you are using is a good one because even the gooder ones like binance are still having some issues like security issues because they'v been recently got hacked  . Other exchange have not been hacked but they still have other issues like for example bad costumer support , low trading volumes ,  etc ...  

The reason why we cant have a good crypto exchange is that nobody is perfect  aside from the creator of course  .

[BlueStackz]

Ima be blunt, based on the fact that loads of people are still without exchanging trade pairs because the likes of binance and such have decided to close deposits indefinitely (gcse computer science and business for us teaches how to develop disaster recovery regimes) so the fact that high profit exchanges can't do it is just off.

Most of these exchanges do stuff with customers money too while on there especially if they haven't withdrawn for a long time. Coinbase, poloniex, bitmex and binance I believe will all be susceptible to this, as well as bitfinex who have already proven how great their money management strategies are (I luckily only had a dollar on there at the time of that hack)...

Most of the exchange we have now especially the centralized one are not regulated and that is the reason why some owners of those exchange are temporary with fund from the investors and traders on their trading platforms.  If regulation is there we would not have all those issues.  For the op I think we are going to have some reliable and good exchange in future and because crypto market is at the beginning stages, we are seeing some problems with exchange platforms.

Presently I am satisfied with some exchanges that we have and even though they are not regulated yet, their service to the community has been a wonderful one, in the like of great exchanges like Binance, even though they have not been regulated, but they are centralized exchanges which makes them known to the world, and if there is any form of fund mismanagement, their identity is enough for the government to step in even if they have not regulated them.

I don’t see any exchange rising up in the future that will be better than the ones we already have, if we are judging these ones by hacking, we should not forget the fact that it is a general phenomenon, and it can happen to anyone, even governments.

[wahyu wida]

I think this type of thoughts will not came for everyone because they are using the changes commonly in all the time so they will perform well for them but some peoples will not been satisfied for their exchanges yes definitely the mistakes are having taking this but we need to clarify them to make the solution that is the way of next move.

you cant blindly say that the exchange that you are using is a good one because even the gooder ones like binance are still having some issues like security issues because they'v been recently got hacked  . Other exchange have not been hacked but they still have other issues like for example bad costumer support , low trading volumes ,  etc ...  

The reason why we cant have a good crypto exchange is that nobody is perfect  aside from the creator of course  .

I agree. besides that the level of security must always develop. with many exchangers, of course the safest is the biggest exchanger. so that it has a smaller risk, but it does not have the risk too, as you are demonstrating

[sana54210]

I think this type of thoughts will not came for everyone because they are using the changes commonly in all the time so they will perform well for them but some peoples will not been satisfied for their exchanges yes definitely the mistakes are having taking this but we need to clarify them to make the solution that is the way of next move.

you cant blindly say that the exchange that you are using is a good one because even the gooder ones like binance are still having some issues like security issues because they'v been recently got hacked  . Other exchange have not been hacked but they still have other issues like for example bad costumer support , low trading volumes ,  etc ...  

The reason why we cant have a good crypto exchange is that nobody is perfect  aside from the creator of course  .

May I ask you a question, of all the system that you have engaged with in this world or the system you have created yourself, have you ever seen perfection? Is the world you are leaving in also a perfect place itself, with all the years that the world has been in existence, despite all the laws, the religions and others, we still have bad people, but yet, we are still leaving in it and surviving.

There is no system or anybody that can ever be perfect, yes they hacked Binance, and they never believed that they are not opened to hacking which is why they have their own policy too, and one of the policy was to advise anyone never to keep money on an exchange, so that doesn’t make them nit to be a good exchange.

[Kiweikoo]

Ima be blunt, based on the fact that loads of people are still without exchanging trade pairs because the likes of binance and such have decided to close deposits indefinitely (gcse computer science and business for us teaches how to develop disaster recovery regimes) so the fact that high profit exchanges can't do it is just off.

Most of these exchanges do stuff with customers money too while on there especially if they haven't withdrawn for a long time. Coinbase, poloniex, bitmex and binance I believe will all be susceptible to this, as well as bitfinex who have already proven how great their money management strategies are (I luckily only had a dollar on there at the time of that hack)...

For the fact that this exchanges were hacked doesn't mean that they are not good, is just that there are some loop hole in their platform that needs to be fixed very fast because we have hackers that don't sleep night and day, so as to find a means of taking this funds out of the exchange for themselves, the mistake they are making is not hiring a white hacker whose work would be to monitor the website for any kind of loop hole and then rectify it before an black hacker comes in through the back door to carry out their activities.

[ginobitcoiner]

we have lots of good digital currency exchanges, why did you mention the above?
Have you ever tried all existing digital currency exchanges?

[usorin]

So basically you want and high reputable exchange that never be a victim of hackings or not possible to get hacked so it will be totally safe for everyone to store their funds? That kind of exchange won't be exist, hackers will be always smarter time by time. Also, everyone are supposed to not storing their assets on any exchanges. You can trade and make profit there but store your assets only on your private wallet.

We don't need to have that kind of exchange as we are supposed to trust no one.

A solution could be an exchange made by hackers?! Where is wealth there is always some who wants to take it away.

[TGD]

I think this type of thoughts will not came for everyone because they are using the changes commonly in all the time so they will perform well for them but some peoples will not been satisfied for their exchanges yes definitely the mistakes are having taking this but we need to clarify them to make the solution that is the way of next move.

Maybe OP, didn't satisfied yet on the existing exchanges or OP have something that he wanted and didn't seen it yet in an exchange. Binance still works fine and does other popular exchange.

[Ranly123]

So basically you want and high reputable exchange that never be a victim of hackings or not possible to get hacked so it will be totally safe for everyone to store their funds? That kind of exchange won't be exist, hackers will be always smarter time by time. Also, everyone are supposed to not storing their assets on any exchanges. You can trade and make profit there but store your assets only on your private wallet.

We don't need to have that kind of exchange as we are supposed to trust no one.

That right, no matter how good or how secured the exchange is, there will always be attackers and hackers. Hackers will find ways to crack the security of everything they intend to hack though.

[rijaljun]

Some cases of hacking on exchange sites may only be manipulated, or insider trick. so the risk is not only hacking but a scam too. that's the risk if you use a centralized exchange site dude, they can be hacked or scam and lose  you. You right, there are no exchange sites that are totally safe, there is definitely a risk of losing. but my advice is use decentralized exchange to reduce the risk

That's right! insiders could cheat their users and run away but it's stupid way for high reputable exchange, they could make more money by keeping their users than to scam them. Decentralized exchange might be able to prevent traders from hack but they might struggle in way of trading cause it always needs network for every single trade. You won't agree to wait 2 hours just to execute a single trade right?