Which CEX did you use and what are your reasons for adopting the exchange?

[ralle14]

One of the main things I look for is the payment options. If i'll be using an exchange to convert my coins into cash, I prefer them to have the payment option I need.

The first one i've used was a local exchange, they were more than enough back then, but their regular KYC checks discouraged me from using their services. After that, I moved to Paxful, i've used them until my non-verified account was close to its trading limit. Now, i'm using Binance for several months and it's good enough for me to get the job done.

[jrrsparkles]

Nice points, can I know the exchange you use?

Unfortunately I am using exchange which is now having mandatory KYC but if you are not from US then definitely you can consider Huobi Global which is the only decent exchange which is yet to have mandatory KYC but sooner or later every centralized exchange will have KYC as mandatory and it becomes unavoidable due to the policy changes across the world.

Also keep in mind even if you are using centralized exchange where there is no KYC required still the platform can hold your account and ask for verification at any time.

[Bitcoinpoly]

Nice points, can I know the exchange you use?

Unfortunately I am using exchange which is now having mandatory KYC but if you are not from US then definitely you can consider Huobi Global which is the only decent exchange which is yet to have mandatory KYC but sooner or later every centralized exchange will have KYC as mandatory and it becomes unavoidable due to the policy changes across the world.

Also keep in mind even if you are using centralized exchange where there is no KYC required still the platform can hold your account and ask for verification at any time.

That’s true, any ways you can use Bitget they still support non KYC

[Bitcoinpoly]

One of the main things I look for is the payment options. If i'll be using an exchange to convert my coins into cash, I prefer them to have the payment option I need.

The first one i've used was a local exchange, they were more than enough back then, but their regular KYC checks discouraged me from using their services. After that, I moved to Paxful, i've used them until my non-verified account was close to its trading limit. Now, i'm using Binance for several months and it's good enough for me to get the job done.

That’s good, though there are still other exchanges you can check out.

[Bitcoinpoly]

These are the reasons and personal considerations I take into account before adopting and choosing a cryptocurrency exchange: Firstly, security is of the utmost importance, followed by regulation and KYC compliance. Next, I consider the user interface and user experience, followed by trading fees, supported cryptocurrencies, liquidity, customer support, proof of reserves, community reputation, and, finally, geographical restrictions.

Good points, there are lots of exchanges that meet up with that.

[Tony116]

non-KYC mandatory

No mandatory or relaxed KYC is one of the top reasons along with high liquidity and no freezing or downtimes during flash market pumps or dumps especially for us who like trading derivatives, but the list of such good exchanges is shrinking so fast.

I used to like Kucoin, Bitmex, Binance, Bybit, Okx back them, but now the perspective has changed mostly because of KYC. As for FTX, I think we all know what happened.

That’s true actually even Binance has been shrinking couple with their issues with SEC, have you tried out some other exchanges lately, I see you haven’t use Bitget too?

Using multiple centralized exchanges just puts your identity at more risk. When I was a newbie, I also signed up for a few centralized exchanges, but as I became more and more aware of the benefits of protecting personal identity and privacy, I gradually limited the new registration of services with mandatory KYC.

I'm not saying I don't use a centralized exchange because that might be the only option I have for being a trader and converting local currency to crypto and vice versa. But honestly, I advise you not to sign up for too many exchanges, it's not good for your privacy.

[tabas]

Proof of reserve IMHO is actually an overstatement. It's because running an exchange business, despite that you'll just going to collect commission from fees. You should be prepared for any collapse coming from the market, thus, you should have reserve fund to sustain the exchange business. This is the norm entering a business and that's why if Binance, Coinbase or any other exchange boasting about their reserve of fund or proof of reserve, it's a must and in the first place they should really have that knowing that they're entering a business that's involved with money, finance since crypto = money/asset.

[libert19]

What are the things you consider personally before achieving adopting an exchange, there are lots of reasons like the features, non-KYC mandatory, easy user interface, proof of reserve fund, user asset protection and the likes what are your own reasons amidst all and which exchange did you use.

No kyc, availability of coin I want to trade and somewhat reputation, so I don't get scammed the moment I deposit funds.

I don't go to cexes as I often I used to due to rise of instant swap exchanges, dexes and perp dexes. Still, on occassions when I don't have enough gas for approval plus confirm transaction (dexes require two confirmation, you can do 'appove all' but that can turn out deadly if exchange gets hacked).

For example, just a couple months ago I went to MEXC because I was airdropped a coin and my wallet didn't have enough funds for DEX to make approval/confirm transaction, so I sent it to MEXC for trade.