Which exchange Do You Trust the Most for Trading

[Junii]

with exchanges hacks and new platforms launching every month ,trust matters.Which exchange do you personally prefer and why?Vote and discuss your experience below!

[Oshosondy]

I trust no exchange.

But if I should choose from the lists that you have above, Bybit in the first, Binance in the second, Bitget in the third position.

I also use other ones like MEXC and Gate.

I will try Hyperliquid and Aster but not now. Know that they are not decentralized but also centralized. Bit they require no KYC.

[Wiwo]

with exchanges hacks and new platforms launching every month ,trust matters.Which exchange do you personally prefer and why?Vote and discuss your experience below!

The reason why i dont like some exchange is the fact that while you can transfer USDT on some chain with zero fees, their have a mandatory fees of 1 USDT on every external USDT transfer. But exchange like Binance  or Bybits and even bitget doesn't have such fees.

Aside that i go for trading fees which exchange charges high trading fees and as a trader i still prefer Binance trading fees so Binance is my go to exchange when i want to trade.

Although i have 3 active CEX exchange and i use all of them for different purposes as it meet my preferences and need per time.

[Text]

I’ve tried a few over the years but Binance has been my go-to for most trades mainly because of its liquidity, wide selection of tokens and generally smooth interface. That said I always keep security in mind and never leave funds sitting on any exchange longer than needed.

You can also try KuCoin.

[Perfectbaby]

I love using Binance for trading but anything could happen at the process of using them to trade, so what to do as a trader is never to leave your fund Inside exchange after you close trading or do not store your funds inside exchange as it could be easily get hacked at any time.
When Binance permits p2p service it was mostly used within our country but when they delisted NGN lot them changes to bybit and other exchange that offers p2p service and those exchange has been mostly used across the country but, for me I do not put trust on exchange because I mostly store my funds in a non custodial wallet.

[albon]

I prefer the leading platform in the market, which has a user protection fund (SAFU), offers strong security, and is constantly improving and updating its platform.. Honestly, I prefer the user interface, available trading tools, and the protection features provided by the platform that users can use. Its fees are also fairly reasonable. They also have excellent customer support that responds quickly and is available in all languages.

I have been using Binance for about 4 years and have never faced any issues so far, thanks to my careful reading of the terms of use and making sure I don’t violate any of the rules they’ve set. After Binance, my next choices are OKX and Gate.io, as they offer a wide range of listed coins, including many that aren’t available on Binance.

[Mrbluntzy]

Depending on the kind of trading a person is doing, their choice for any of this centralized exchange you listed might vary, some people are only specialized in being a p2p merchant, what they only do is buy or sell cryptos to people while the people make payments or receive payments from a specific local fiat. For example, if you have Bitcoin on your bybit account and you want to sell it and receive payment in your local currency, those p2p merchant will buy it and send payment direct to your bank details that you provide them with. Those p2p merchant go for exchange with enough customers to transact with them and I have noticed that Binance and bybit is where they mostly choose.

Traders that are into futures trading go for exchange with a very massive trading volume on the crypto pairs that they normally trade, so the exchange they might trust for that kind of trade might very from the one another type of trader will also choose. A p2p merchant might trust a different exchange from the future trader.

As for normal buying and holding of a crypto that you have interest on, any reputable exchange fit to serve that purpose if the exchange is allowed in your country. All the exchange you list here are accessible in my country but the one I mostly use is one that I have been recommended to by my friend, I use the exchange because I do any kind of trade I want except futures, but I don't trust the exchange to save my coins their. So, if you are choosing and exchange, it will depend on the kind of trade you do, but you must not trust an exchange to keep your coins there, remember not your key, not your coin.

[Lida93]

with exchanges hacks and new platforms launching every month ,trust matters.Which exchange do you personally prefer and why?Vote and discuss your experience below!

The reason why i dont like some exchange is the fact that while you can transfer USDT on some chain with zero fees, their have a mandatory fees of 1 USDT on every external USDT transfer. But exchange like Binance  or Bybits and even bitget doesn't have such fees.

Between Binance, Bybit and Bidget I think I consider Binance to be the best among them with top service and support that Bybit and Bidget can't beat.

On chain USDT transaction between same exchange shouldn't be what the exchange should charge a cent for it and if I ever have to experience that with any exchange I would consider them greedy because even. traditional banks allows for a zero transaction fee between accounts holders from their bank.

[hugeblack]

I don't think hacking will affect your choice between highly liquid platforms. Such hacks are covered up unless the hacker has stolen billions of dollars, in which case you shouldn't keep your coins on the platform for long.

So, if your only concern is hacking, choose any platform with high liquidity (top 10) and withdraw your funds as soon as the trading is complete.

[Darker45]

If you're an active day trader or scalper, you'd choose any of the above except decentralized exchanges because you'll definitely give weight to liquidity. The ones mentioned are the top ones, most popular, most trusted. So, they're the better and safer choices, although they're still not to be fully trusted, especially if you're only storing your coins.

But if you're just converting some coins but don't do it often, you might be better off with non-KYC swap platforms.

[rat03gopoh]

I don't think hacking will affect your choice between highly liquid platforms. Such hacks are covered up unless the hacker has stolen billions of dollars, in which case you shouldn't keep your coins on the platform for long.

Yes, for security concerns, users should consider the exchange of their choice to be at a high risk of hacking, and don't assume that every exchange will be immune to hacking unless all hackers are confirmed to have ceased their activity. Even for DEXes that are entirely managed by smart contracts, I see related exploiting news almost every week.

Just match their features to your needs OP.

[crwth]

I currently use DEX to trade, specifically Lighter. It's been a great benefit to have zero fees on trading. With the yield programs. The non-custodial architecture is what I'm aiming for, and it also offers a possibility for an airdrop, similar to Hyperliquid's previous one.

[hugeblack]

Even for DEXes that are entirely managed by smart contracts, I see related exploiting news almost every week.

The funny thing is that DEXes are more likely to be hacked and their trading volumes are lower, so the term DEXes is more of a marketing term or can be described as a No-KYC CEX with low liquidity.

Therefore, from a hacking perspective, a known centralized exchange is more secure than an unknown *decentralized protocol.*

[Rikafip]

The one I trusted the most was eXch, but unfortunately its not working anymore, and since then I am struggling to find something similar to that. Another one that I used a lot in the past was Binance, until they started harassing me for no obvious reason.

I prefer the leading platform in the market, which has a user protection fund (SAFU)

This SAFU thing is nothing but a markting trick that can't be really verified. Everything is fine and dandy if hack is not big, big be sure that in case of a huge hack worth many billions, SAFU would mean absolutely nothing.

[KingsDen]

I love using Binance for trading but anything could happen at the process of using them to trade, so what to do as a trader is never to leave your fund Inside exchange after you close trading or do not store your funds inside exchange as it could be easily get hacked at any time.
When Binance permits p2p service it was mostly used within our country but when they delisted NGN lot them changes to bybit and other exchange that offers p2p service and those exchange has been mostly used across the country but, for me I do not put trust on exchange because I mostly store my funds in a non custodial wallet.

You can be more explicit here, so that everyone else will understand your stand. Do you actually mean that as a trader ( a day trader in that matter), you transfer your coins out of binance whenever you conclude trading and coming back the next day you transfer them back to binance? Me and you know that it is not feasible and no traders does that. It only exists in theory. So, it's high time we advised what we practice.

A trader should choose a proven and reliable exchange for trading and binance is one of them. We know binance has been around and they will continue to be, unless something that will shake the crypto industry happens. So, I simply put it that whenever a trader has enough profits they will want to send it out of binance and not moving the whole capital back and forth.
We are not expected to trust exchanges, but give binance their flowers.

[Potato Chips]

TBH, I'm confident enough to use majority of the tier 1 exchanges for trading (not as a means of storage) as I think they have better odds on surviving small to medium scale hacks. They're also more likely to receive some sort of help from various entities. There's still risk of getting railed by KYC/AML though.

I've been using splash.tf too for small amount trades as they have no kyc and have an escrowed funds with one of bitcointalk's reputed escrows. Keeping an eye to see if they'll become reputable in the forum.

[God Of Thunder]

Privacy-focused individuals mostly use DEXs and instant exchanges that don't even require them to sign up. However, most average crypto users, like me, use centralized exchanges such as Binance, Kucoin, and Bybit. I personally use Binance for trading and storing small funds. I also use Bybit because it offers a debit card feature, which I utilize. I just moved my crypto to Bybit and use the Bybit card to make online purchases.

Most of the crypto debit card charges some fees, and there are too many weird TOS. I have seen a couple of cases where they freeze cards with funds on them. I have been using the Bybit card for a while, and I think it's pretty decent; I like it. But for trading, I use Binance most of the time.

[sunsilk]

The centralized exchanges that I use are the also the common ones that have been mentioned here;

• Binance
• Bybit
• Bitget

LOL, I'm not a bitget shill but we still see them do that in the altcoin section. And noticeable that they're all 'b's. 

As for the other, the DEXes, there's the hyperliquid that I always hear but I haven't used it yet. Maybe when we enter the bear market, that's when I'll start using it.

[m2017]

with exchanges hacks and new platforms launching every month ,trust matters.Which exchange do you personally prefer and why?Vote and discuss your experience below!

Is it possible to fully trust the people you give your money to?

The reason (trading) for trusting an exchanger is irrelevant, because one way or another, you're entrusting your money for temporary safekeeping. Be it for trading, staking, or exchanging from one currency to another. The only difference is how long your funds remain on the exchange platform.

Logically, the most trustworthy exchangers are those that have been operating for a long time and have a positive reputation. The longer an exchanger has been operating, the more experience it has in maintaining security measures (including temporary storage of your funds).

In other words, I'm somewhat wary of new exchangers because it's unknown how long they'll last, so I tend to choose big, established exchangers. Like binace. Although, from the standpoint of the safety of your funds (at the time of trading), I repeat, this may not have such a significant impact, because even in a large and well-known exchanger, you can lose money (there may be mistakes on the part of employees or theft of user funds by the exchanger owners, as well as hacking).