exchange cryptos (e.g ETH->BTC) on instant exchanges WHAT are the points you ...

[kidis]

When you exchange cryptos on instant exchanges like Changelly or Changenow, what are the point you pay attention to?

like fast transaction, no kyc etc?

[Jating]

When you exchange cryptos on instant exchanges like Changelly or Changenow, what are the point you pay attention to?

like fast transaction, no kyc etc?

Of course the first point is that you will get your crypto. Both of the mentioned crypto exchanges has some issues with that.

https://www.reddit.com/r/Changelly/comments/8qeqzi/dont_use_changellyit_will_hold_your_fund/
https://www.reddit.com/r/Changelly/comments/8fd6tb/high_risk_changelly_steals_my_33btc_30k_usd/

ChangeNow.io (Evercode Lab) - Scam. Illegally holding of 100 BCH (11 bitcoins).

As far as KYC though, sooner or later those exchanges are going to succumbed to those regulations so it doesn't makes any difference at all.

[hugeblack]

I think these are the root causes:

 - The lack of regulatory laws for many platforms, everyone is afraid of closing the account at any time.
 - Trading takes place from wallet 2 wallet, which reduces risks other than what happens on central platforms.
 - Many of them are built into wallets: many beginners don't understand how things work, so they think it's the wallet that does this.
 - Many Altcoins.

[stomachgrowls]

When you exchange cryptos on instant exchanges like Changelly or Changenow, what are the point you pay attention to?

like fast transaction, no kyc etc?

Less fees,lots of coins to be convert of and no KYC of course.I do have experience on using up Changelly but not i do make use of Flyp.me as of this moment.

[leea-1334]

Some people it will always be KYC. But personally, if I am using exchanging and I do not want to hide anything (and I never need to know anything anyway),,, I do not really mind. But the problem with KYC is I do not know how they keep my data, which is why I even prefer 3rd party KYC that the exchange itself does not control.

Security = number 1 concern of exchange.

[romero121]

When I choose an exchange first I go with the transaction fee and the volume. Further I'll go with the reputation of the respective exchange, because when we choose an exchange our trade needs to be executed fast. If there happens some issues I need to get it sort, and this isn't possible with every exchange. So I prefer the one with the much friendly support.

[TheUltraElite]

When you exchange cryptos on instant exchanges like Changelly or Changenow, what are the point you pay attention to?
like fast transaction, no kyc etc?

Those exchanges do ask for KYC nowadays after the governments crackdown on money laundering and now people have had to move to other instant exchanges for quick conversion from one coin to another. At one time shapeshift was the most popular one used.

Of course the few things that one looks into have been said by other members, of which I will point out the ones I like:
1. No KYC would be best, but maybe that is no longer possible.
2. A quick response support team active 24x7
3. Responsive UI on both web and mobile, maybe a mobile app too, but is secondary for starters.
4. Discounts for loyal users.

[DoublerHunter]

~snip~
Of course the few things that one looks into have been said by other members, of which I will point out the ones I like:
1. No KYC would be best, but maybe that is no longer possible.
2. A quick response support team active 24x7
3. Responsive UI on both web and mobile, maybe a mobile app too, but is secondary for starters.
4. Discounts for loyal users.

^ These are the perfect answers, but I am not sure about the number 4 if there is. If someone avoiding KYC verification I think Decentralized exchange or a quick one is P2P exchanges. But I prefer an exchange that has a high volume of all coins to trade and the last one is security and must have to build a strong reputation from their traders. Nevertheless, all of these were found on FAQ and TOS of the exchange sites, just read first before you deposit.

[Potato Chips]

Just a tip in regards to the support, the closest way to get a gist of its current state is to try it yourself, maybe inquire about something and read the complaint threads of their users which they have replied to. Don't dismiss every "resolved" thread as a good thing right away, pay attention to the content, how they reply and how long did it took, there are some cases when it's blatant that they are just giving excuses after excuses.

[TheUltraElite]

These are the perfect answers, but I am not sure about the number 4 if there is.

Why not? Some whales use them and its like fanservice to keep them addicted to their favourite exchange. Even casinos give out promos to keep their customers.

If someone avoiding KYC verification I think Decentralized exchange or a quick one is P2P exchanges.

DEX or CEX does not really matter because exit scams occur in both. We are nowhere near any regulation so one should use what is suitable instead of using a certain exchange only to dump shitcoins.

Just a tip in regards to the support, the closest way to get a gist of its current state is to try it yourself, maybe inquire about something and read the complaint threads of their users which they have replied to. Don't dismiss every "resolved" thread as a good thing right away, pay attention to the content, how they reply and how long did it took, there are some cases when it's blatant that they are just giving excuses after excuses.

Some noobs attempt to make the exchange looks bad without providing proofs. These should be disregarded as trolling than anything that is a legitimate issue. Do most exchanges have a forum of their own or allow reading support tickets of other users? I doubt it. What we see on this forum may not always be a proper support system.

[sunsilk]

Most of them does have issues so it's likely that I'll use the one that has a better support so if something unexpected comes with my transaction, I can easily contact them. I trade with smaller amounts so it's unlikely that they'll ask me for KYC.

But this is one given reason why we want exchanges that doesn't ask for KYC. It's a personal matter but they're acting oddly with other users reportedly that they are asking for KYC so it's something of a major concern of most so try to avoid those kind of instant exchanges. Much better if you can find a better exchange with positive feedback from the community.

[slaman29]

Low fees of course with fast transaction, then always have movement like Binance,then with fiat currency to digital currency exchange

Then of course if your exchange is new then better to create new about it like example with gambling site related then more,Moreover always think the security of it so users will trust that then prove that your trusted

I guess you mean liquidity and I agree that could be a point to consider for big volume traders who need large orders executed and settled asap.

But come on, for the rest of us, does liquidity really matter and does the 0.01% less fee really matter? I don't think so. I've traded at super low liquidity platforms before and changed millions of satoshi, it's all small fish for them and they'll handle it. Do I really care about the 100 satoshi savings when I only trade a few times a year or even a few times a month?

[abeecrypto]

When choosing an exchange, I look majorly at the transaction speed and fee, volume, support service coupled with users’ reviews.

There are other things I might also consider like KYC, discounts, and so on.