How do you define a good exchange? - page 12.

rexxarofmoknathal

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Quote from: bitbunnny on April 09, 2020, 11:50:15 AM

For me it's very important that exchange is legal, legitimate, transparent that it doesn't have problems with liquidity and that has good customer support.
I also pay attention to rewies and possible scam accusations. Unfortunately, there are also some exchanges that are made to scam people so I'm always careful.

I couldn't agree more with the factors listed as important to you. However, in addition to these factors there are others which helps us distinguish good exchange platforms from the bad ones, and some of these includes, of course, the list of currencies it supports, exchange fees, user-friendly interface etc.

In any case, these are the some of the factors I consider when deciding which exchange platform to use.

bitbunnny

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For me it's very important that exchange is legal, legitimate, transparent that it doesn't have problems with liquidity and that has good customer support.
I also pay attention to rewies and possible scam accusations. Unfortunately, there are also some exchanges that are made to scam people so I'm always careful.

Arkann

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To date, there are quite a lot of cryptocurrency exchanges and making a really good choice is very difficult. First of all, I pay attention to trading volumes, as well as to the absence of problems with the withdrawal of funds. For example, the BCNEX exchange generally stopped withdrawing funds in any currency. In addition, it’s very humid to pay attention to security, because I always pay attention only to those cryptocurrency exchanges that allow access to the account thanks to the phone number, while confirmation of any actions in the account must also occur via SMS confirmation of actions using the phone.

Mrengage

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There are good aspects to define a good exchange but in the other hand its base on the individual that is going to use it. A good exchange most have good security, most have a well standard 24/7 customer service. A good exchange most been know by their term's of service they provide.

CarnagexD

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Binance may be a specialized site albeit we attempt to hack it if we keep the 2fa code nobody is going to be ready to hack Trying to hack won't work. you ought to also check out different sites. you would like to watch and invest in reliable sites The accuracy of the set site must be thoroughly verified before exchanging it.

We have different bias of exchange and also we have a different definition of a good transaction, for the trade I looking for first is good security because this is the most important we can avoid the hackers next is have a fastest exchange because getting too late before getting your earnings do not give good feedback and also it is better if they have active customer support because most of the time users have trouble about their investment to the exchange and one thing we can use is the customer service so they can immediately aware about the problems of their users. Which wallet did i use? Coinbase and yobit because it fits my requirements.

Natalim

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Quote from: travwill on April 06, 2020, 04:00:36 PM

The main thing is the liquidity and legality of the exchange within the jurisdiction of the country in whose territory the exchange operates.
Indeed, as practice shows, nothing prevents regulators from covering up the exchange in a matter of seconds leaving users empty-handed.

Nowadays, most of the exchanges are getting into a scam based on the liquidity which they cannot manage the flow of their money and their employees. An exchange should always manage to satisfy the user problems and has ability to solve the issues when they face any crises during at the time of the hacking.

Of course, because that's what good exchange does.

Binance got hack last year but they were able to survive that hack, and they learn from that and keep improving their security.
Now, that they bought CMC, this is a good step for them to correct some information written and maybe eliminate in the list those exchanges that are not reputable, or those who are faking their volume and those who have a lot of complains.

Jateng

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Quote from: travwill on April 06, 2020, 04:00:36 PM

The main thing is the liquidity and legality of the exchange within the jurisdiction of the country in whose territory the exchange operates.
Indeed, as practice shows, nothing prevents regulators from covering up the exchange in a matter of seconds leaving users empty-handed.

I agree with you. I want too those aspects of crypto exchange. Not all exchange can provides those factors to their customers but it's separated us from we want to an exchange because not every countries will legalize it's formal exchange in each country. Another factors that to an exchange is security and low withdrawal fees and not everyone will trully provide those aspects which I want to a good exchange. Making more transaction safer and less hassle.

LbtalkL

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I like fast execution, fast transaction obviously an exchange with good volume, also good coins are being listed. That is the definition of my good exchange. Also, I like an exchange with 24hr active support that can help with errors and issues, Low withdrawal fees, and most importantly the security and privacy of our funds and data. Yes binance got hacked there are no perfect exchange hackers will always find a way, an exchange is made by programmer and developer, hackers also have that ability and knowledge, But I like an exchange that has insurance. In case something bad happens they can replace the lost fund immediately.

TheGreatPython

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Liquidity is definitely right, without liquidity you can't really trade but that also depends on the coin you want to exchange as well. I mean there could be an exchange where you can go with 10k and trade usdt-btc very fairly because there will be a lot of liquidity there, but when you want to do lets say btc-wave there may not be enough to cover your 10k, so you would have to pick another one.

So, what you want to trade plays a big role in liquidity as well. That is why security is always the most important and you may never know if the security your exchange has is good enough until you actually see it tested. Binance got hacked for example, does that mean their security is bad? They even got 7k bitcoins which is a lot of bitcoins. But they recovered and paid out of pocket, which means they are actually pretty great.

pankaj1234

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Liquidity and security is the main thing I want in a good exchange, Because liquidity has to be a part of our trade.you can buy and sell any crytocurrency easily. If there is more trader on exchange will be beneficial for eveybody. Security is the another concern might attract people toward the exchange.if the exchange security is world class then exchange will go forever.

travwill

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The main thing is the liquidity and legality of the exchange within the jurisdiction of the country in whose territory the exchange operates.
Indeed, as practice shows, nothing prevents regulators from covering up the exchange in a matter of seconds leaving users empty-handed.

rexxarofmoknathal

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A good exchange is one which takes customers security to a whole new level. Of course, having an easy to use platform, accept different crypto and support bank transactions, as well as the transaction volume are all important factors but all of these would not matter if security isn't properly ensured!

Negotiation

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Quote from: Boii on March 26, 2020, 11:04:10 PM

Hi mate
You made a nice effort and idea to make your own exchange.Just dont get disheart by the bad comments of people,be motivated and Good luck

In order to have a good exchange one needs his own ideas and efforts first. Trying something yourself will increase knowledge and learn about different sites where investment is good.

barumbado

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A good exchange for me is being transparent.Have a good and nice support,fast querries.
Low fees on widrawal and proper security.

spike420211

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Quote from: cassavachips on March 27, 2020, 03:46:57 AM

There are so many things that must be fulfilled, but the main thing is insurance. The exchange must be able to guarantee funds from users and can take full responsibility in the event of hacking on the site. Apart from that security is also important, exchanges must have a clear and transparent team. For withdrawal and trading fees can certainly be considered, for the most important display site is user friendly

No exchange will provide you with this. Yes, the largest exchanges will return your funds, but only if the hacking was small. If all funds are stolen from the exchange, you will have nothing to return to it, which means that users of the exchange will be left without money. There are a lot of similar examples on the market, unfortunately. Therefore, you need to very carefully approach the storage of funds on exchanges.

cassavachips

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There are so many things that must be fulfilled, but the main thing is insurance. The exchange must be able to guarantee funds from users and can take full responsibility in the event of hacking on the site. Apart from that security is also important, exchanges must have a clear and transparent team. For withdrawal and trading fees can certainly be considered, for the most important display site is user friendly

Boii

newbie

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Hi mate
You made a nice effort and idea to make your own exchange.Just dont get disheart by the bad comments of people,be motivated and Good luck

cryptothreads

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Quote from: Btc_1856 on March 09, 2020, 11:42:36 PM

Quote from: novaprime on March 09, 2020, 09:19:48 PM

Quote from: whyrqa on February 25, 2020, 02:19:20 PM

Of course, for each newcomer, this question is quite relevant, because there are a lot of cryptocurrency exchanges, it is very difficult to make a choice among them. But there really is a certain rating of exchanges, which you can pay attention to make the right choice, but also on the bitcointalk forum there are always positive reviews about the exchange of binance. For me personally, this choice has already been determined, since I prefer Binance due to its successful interface and technically balanced features for the user.

Binance exchange has been talked about a lot during the past 2 years and this exchange really shouldn't be mentioned because everyone knows when participating in this market. Personally, I would choose a better exchange and that's Huobi because this is the exchange I use most often because the interface here is very nice and even better than Binance.

In addition, Huobi has never disappointed investors because the security of this exchange is very high and withdrawals are often very fast.

Each person will have a different view of the exchanges, but most of the people are showing lots of interest in the Binance exchange. Even I used to trade some coins in Huobi. Yes, I agree with you because like Binance, Huobi exchange will also process the withdrawals very quickly, even I have found very good security from the Huobi exchange.

I have been a Huobi user since this exchange was just established and really until now I have no problem here and they support the customer very well.

Until now, Huobi has not been attacked and this exchange is very good security for customers, so many investors trust. Also, they support C2C very well and I can convert to fiat anytime I want without having to wait too long.

Negotiation

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I think there are different places to research and monitor before defining a good exchange site The site will be invested in and will be exchanged at a site that is very popular and trustworthy. You are right that in every case we should work on validation.

Triffin

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Quote from: whyrqa on February 25, 2020, 02:19:20 PM

Of course, for each newcomer, this question is quite relevant, because there are a lot of cryptocurrency exchanges, it is very difficult to make a choice among them. But there really is a certain rating of exchanges, which you can pay attention to make the right choice, but also on the bitcointalk forum there are always positive reviews about the exchange of binance. For me personally, this choice has already been determined, since I prefer Binance due to its successful interface and technically balanced features for the user.

Yes you are right there are many new comers in the crypto market who have not clearly idea about the cryptocurrency exchange that which one is very good for them or which one exchange is good in the current market, so in this way you are right that now a days in the crypto market the Binance exchange has very good value and it is very secure.

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