Topic: A tip for choosing the exchange. (Read 843 times)
Iam not really care about trading fee on the crypto exchange, but the most important thing is that exchange has high security level and protection for all their member. With some case of hack on exchange in the past, we need exchange that really care about safety, protection and guarantee of fund. Others all exchange should be has program protection just like SAFU of Binance.
Good exchange is exchange that operated more than 2 or 3 years and they has good reputation, never get any hack and comply with the regulation in the country their located. I used Bittrex and Poloniex more than 2 years and i have balance in that exchange also since 2 years and untill now that my balance is safe. So this both exchanges is one of the best exchanges.
If good exchange is that operated more than 2 to 3 years. How about Binance, okex, and houbi these 3 exchange as far as I know surpassed Bittrex and Poloniex already and these 3 exchange platform also listed on top 10 exchangers. Probably, in choosing a good exchange I think the good basis is the volume itself they have. Meaning, years is not a basis for us to know the good exchange.
Actually we have to depend on some factors that can help us to choose a good exchange. Time , experience, skill or that sorts of things is kind of necessary when choosing a suitable exchange. Combining these factors together is brutally helpful. First of all, we should put the security on the top one that is the most important factor. Because obviously if the exchange is not secured, your asset will not be guaranteed. Your guard should be up every time. Also, you’d better build a wealth of knowledge in order that you can be much flexible when choosing exchange as well as making a decision suitably.
Exchanges establish their own fees. The fees are different not only between exchanges but sometimes between different trading pairs on the same exchange. Use a free service like Switchain to compare rates between a few different exchanges for each individual transaction.
There are custodial and non-custodial exchanges. Put simply, the first ones hold onto your assets that you leave with them which is what makes it vulnerable. Once it's hacked there's nothing you can do but watch. Non-custodial ones only hold your assets for the time necessary to complete the exchange.
Hope this helped.
It’s best to not have your coins in only one exchange so that you don’t lose them at once in case such a thing happens and the exchange is attacked by hackers. So have different exchanges and only have the coins you want to trade with on exchange and once you’re done with it you should move it straight to your wallet, cause there it will be much safe than on the exchange.There are custodial and non-custodial exchanges. Put simply, the first ones hold onto your assets that you leave with them which is what makes it vulnerable. Once it's hacked there's nothing you can do but watch. Non-custodial ones only hold your assets for the time necessary to complete the exchange.
Hope this helped.
At least, trading on two or three different exchanges kind of spread the risk and it is a good thing that with the likes of application like tab trader, where you can have all your trades from different exchanges done on one app, it makes things a lot easy.
tips for being able to find a good exchange place maybe you can see from the trading volume that is in the exchange and choose the safest exchange place, make sure you can find an exchange that has such criteria.
In my opinion the most important thing features on the exchange is they has high level security, and others one is they should be have high trading volume, provide feature of stop loss, good customer support, they has good reputation, legitimate and fully regulated.
Yes you’re right about that but sometimes you can’t really tell how secured an exchanger can be until they are tested. There are lots of exchanges and many believe that Coinbase is the safest exchange you will ever come across, but some still say that it is not 100% secured and that there is risk that follows cause it can still get hacked despite having two factor authentication. Sometimes I ask myself if two factor is really a good feature as people claim, seems like hackers now knows a way to bypass such security. Exchanges establish their own fees. The fees are different not only between exchanges but sometimes between different trading pairs on the same exchange. Use a free service like Switchain to compare rates between a few different exchanges for each individual transaction.
There are custodial and non-custodial exchanges. Put simply, the first ones hold onto your assets that you leave with them which is what makes it vulnerable. Once it's hacked there's nothing you can do but watch. Non-custodial ones only hold your assets for the time necessary to complete the exchange.
Hope this helped.
Nice write up and I think I have learned a new thing today and that is switchian that I can use to check trading fees in exchange platforms. In trading we should now the exchange platforms that give lower fees and reduce the cost of transactions. There are many advantages that different exchanges provide and you should do more research to find out those advantage and used them. There are custodial and non-custodial exchanges. Put simply, the first ones hold onto your assets that you leave with them which is what makes it vulnerable. Once it's hacked there's nothing you can do but watch. Non-custodial ones only hold your assets for the time necessary to complete the exchange.
Hope this helped.
One of the reasons I chose to trade with Binance was due to the 50% discount for trade charges when holding Binance coin, I think they have reduced the discount further. I am just waiting for some of the about to launch exchanges that promised no fee charges for trades such as digitex and the promised to launch their exchange this 4th quarter and BDT exchange that had promised a free of charge trade for anyone holding a certain amount of their exchange token.
Exchanges establish their own fees. The fees are different not only between exchanges but sometimes between different trading pairs on the same exchange. Use a free service like Switchain to compare rates between a few different exchanges for each individual transaction.
There are custodial and non-custodial exchanges. Put simply, the first ones hold onto your assets that you leave with them which is what makes it vulnerable. Once it's hacked there's nothing you can do but watch. Non-custodial ones only hold your assets for the time necessary to complete the exchange.
Hope this helped.
There are custodial and non-custodial exchanges. Put simply, the first ones hold onto your assets that you leave with them which is what makes it vulnerable. Once it's hacked there's nothing you can do but watch. Non-custodial ones only hold your assets for the time necessary to complete the exchange.
Hope this helped.
like this dude
each altcoin certainly has a number of different exchanges, you have to find out which one can be traded on which exchange.
but if you want to trade safely, you can try it in binance or bittrex.
In my opinion the most important thing features on the exchange is they has high level security, and others one is they should be have high trading volume, provide feature of stop loss, good customer support, they has good reputation, legitimate and fully regulated.
if you plan to trade, choose volume exchanges. if you want to buy a rare coin, then you have to risk to buy it on unknown exchanges
If me i'd better to avoid exchange that i don't know that must take risk to trade in it. 
there are still a lot of tokens that can traded in well-known exchanger, but it is ok if we don't have choice like when we want to sell our tokens.
if you plan to trade, choose volume exchanges. if you want to buy a rare coin, then you have to risk to buy it on unknown exchanges
If me i'd better to avoid exchange that i don't know that must take risk to trade in it. there are still a lot of tokens that can traded in well-known exchanger, but it is ok if we don't have choice like when we want to sell our tokens. 
You cannot take as a given that any exchange is immune from issues. Look at what happened to Bitfinex in the summer of 2017. They're probably one of the more reliable players and their security was not great.
Counterparty risk in the crypto-space is such an issue because even the really big reliable exchanges like Kraken run on a mickey mouse database backend with no middle tier. Don't believe me? Look at the behaviour of the exchange anytime there's high volume. Fucking falls over on its ass.
This 5 minute video discusses a good solid way to measure and manage exchange counter party risk. Especially if you trade at size.
When you want to get best exchange you took more then 2 or 3 years and they has good reputation, never get any hack and comply with the regulation in the country their located. And always see their fees Website speed security and So on.my opinion good and Trusted exchange is Bittrex, HitBTC , they was launched acouple years and never get any bad issue.
Good exchange is exchange that operated more than 2 or 3 years and they has good reputation, never get any hack and comply with the regulation in the country their located. I used Bittrex and Poloniex more than 2 years and i have balance in that exchange also since 2 years and untill now that my balance is safe. So this both exchanges is one of the best exchanges.
You are right on your answer mate, I was using bittrex for a years I think , then I've been in Poloniex too before but I pulled out all my coins in Polo during the time that they faced some issues, moreover when Binance, kucoin, Coinbene, Houbi and okex came out I shifted on these exchange now. Why? it is because those are listed at the top exchange platform in the market where Bittrex and Poloniex has been surpassed by these exchangers. Though I'm still using bittrex now but not as often like what I did before.
I guess fees are not only the concern the crypto currency exchanges what should be more concerning is security and safety of the funds that we are trading over them. Now at any point we will always be holding more than 1000 USD over the exchanger with different coins and tokens. Thus it must be a secure exchanger and we better not be victim of hacks and leaks that keeps happening these days.
For me it doesnt matter if the fees are 0.1% or 0.05% by using their tokens because thats just tiny fraction of the what we are trading and thus it should not be very concerning for us at all. Thats just my thought regarding the crypto currency exchangers.
You prioritize security rather than fee issues. I guess that's also a rational reason. As long as we feel comfortable, I don't think there will be a problem. Long term traders do not feel the impact of the fee though. I may have the same thoughts, because I also do not trade too often. And I usually choose to use an exchange that has stood for several years and has proven its credibility as a good exchange. I'm worried about some things because of the emergence of too many new exchanges.For me it doesnt matter if the fees are 0.1% or 0.05% by using their tokens because thats just tiny fraction of the what we are trading and thus it should not be very concerning for us at all. Thats just my thought regarding the crypto currency exchangers.
Coinbase is one of the biggest exchanges in the world and they have been the unicorn of startup world in silicon valley and started a new shop in ireland as well to go global but in reality there has been a lot of complaints on reddit where people talk about how coinbase kept their money without a warning and people had trouble getting their money back until they complain to SEC or similar places.
If even coinbase is doing this than it means you need to be really really careful with exchanges, thats why I usually try to do my job quickly and try to get out quickly and not hold too much funds in any of them but if I am going to do it I try to select the best known and trusted ones.
Some exchange has fake trading volume and avoid this kind of exchange, there are alot of number of new exchange now but i still use old exchange cause a few years already i used it and never get any problem. In my opinion good and Trusted exchange is Bittrex, HitBTC , they was launched acouple years and never get any bad issue.
I do not believe that free exchange will run well, they need funds to carry out maintenance and development, if an exchange frees up costs, then they will not be able to get funds and will have an adverse effect on exchange performance, what do you think, let's discuss
I'm essentially paying attention to security, because fee of exchanges is not so different, there is just a little amount difference. In fact, due to all of the coins are not in one exchange, so we sometimes have to use unknown exchanges. But, if there is a more selections, we should first choose the security, then fee.
You can easily find them by looking at their reviews upon trying you will know it already and also you can consider this including to their support system if ever there is an error found. There are various of exchanges scattered around the web and you can look at them one by one to see if you've got a problem with their security, such as Binance for example.
I'm essentially paying attention to security, because fee of exchanges is not so different, there is just a little amount difference. In fact, due to all of the coins are not in one exchange, so we sometimes have to use unknown exchanges. But, if there is a more selections, we should first choose the security, then fee.
Yes, each exchange service allows different commissions to be traded, but I think this is not the only element that should be considered during the election. Services currently taking the highest fee today usually serve with rates of 0.8% and this rate is not too much. On the other hand, it is necessary to take into account a variety of factors such as user density, transaction volume, technical support service and payment speed of services, which allow transactions with low transaction commissions only. Also, the coin pairs offered to us are of great importance at this point. For this reason, I believe that this preference should be made by taking into account the things such as transaction volume, support and payment convenience, depending on the coins we will trade.
Im not really into seeing fees first when i do tend to choose up an exchange because normally they do really range 0.8% or more but not really a big issue on my side same as you said this is not the main preference on choosing up. I do always go after on the reputation and popularity because it is quite understandable if you do use this one it do already have the most things that you do seek for on a good exchange. Jump to: