How do you define a good exchange? - page 13.

MWesterweele

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Quote from: coingecko on March 10, 2020, 12:01:40 AM

A good exchange should fulfil the following criteria :-
1) Good Liquidity (Based on orderbook depth, orderbook should be deep enough for large trade to be executed without slippage)
2) Low Spread (Spread should be thin between bid and ask, so traders can trade in/out at the best market rate)
3) High web traffic (Plenty of users actually trading on the exchange providing better liquidity)
4) Exchange should have proper KYC and have track record of disaster handling
5) (If you are trading fiat-on ramp) Ideally should be regulated in the local jurisdiction (to reduce risks)
6) Exchange should not just be listing many pairs, but they should be listing quality pairs with good liquidity in each of them
7) Able to deposit and withdraw quickly

For these, we created Trust Score that tries to incorporate as much of the elements above as possible.

Exchange ranking can be found on our website at https://www.coingecko.com/en/exchanges

For me a good exchange if its liquidated because you will be sure its safe, also good exchange should be reliable, fast and secure because it is one of the trait that choose of many trader. Its better to find a good exchange or read some forum because some thread are really helpful and also they some example of good exchange.

coingecko

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A good exchange should fulfil the following criteria :-
1) Good Liquidity (Based on orderbook depth, orderbook should be deep enough for large trade to be executed without slippage)
2) Low Spread (Spread should be thin between bid and ask, so traders can trade in/out at the best market rate)
3) High web traffic (Plenty of users actually trading on the exchange providing better liquidity)
4) Exchange should have proper KYC and have track record of disaster handling
5) (If you are trading fiat-on ramp) Ideally should be regulated in the local jurisdiction (to reduce risks)
6) Exchange should not just be listing many pairs, but they should be listing quality pairs with good liquidity in each of them
7) Able to deposit and withdraw quickly

For these, we created Trust Score that tries to incorporate as much of the elements above as possible.

Exchange ranking can be found on our website at https://www.coingecko.com/en/exchanges

Btc_1856

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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.

novaprime

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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.

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.

spike420211

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Quote from: Subbir on January 19, 2020, 11:20:52 AM

I think everyone's choice is different when it involves exchanges. Some people prefer differing types of exchanges. That's why we'd like to seek out knowledgeable person to define an honest exchange site which will be trustworthy. there's no got to kyc within the transaction and therefore the fees are going to be lower and your money are going to be protected.

What do you mean ?
There is a rating of exchanges, even several that can easily help you choose a reliable, fast and secure exchange.
There are many cryptocurrency exchanges, some of them have been on the market for a long time, which means that the longer they work the better their reputation.
Already, the top 10 exchanges have been formed, where it is safe and easy to trade as much as possible. Why listen to someone if everything is ready.

Mahanton

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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.

And because of that they do able to make their reputation goes to the top.I cant really deny on how good Binance is when it comes to giving out the best service and they do really know on how to play with the market which they do extend out on various countries which really makes for its competitors on having the hard time to cope up with them.

The thing i do like on an exchange is that KYC is optional, fast withdrawals and good UI/UX which binance had that basic and advance feature which is really great.

whyrqa

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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.

matchi2011

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Quote from: ChronoLite on February 23, 2020, 08:36:38 AM

i think how do i define a good exchange is their customer support and which coins they list in their exchange, if they have good coins but shit support then those exchanges would get red sign by the community because of how bad the support actually handle the problem. finding both is actually the hardest part to get a good exchange

Support is very important since it's unavoidable to experienced problem once you are using any exchange, finding the right place and knowing that you
are getting support service whenever you need some, plus the types of projects that being listed though it's also possible that in any exchange shit project can be added as long as they can pay the fees.

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i think how do i define a good exchange is their customer support and which coins they list in their exchange, if they have good coins but shit support then those exchanges would get red sign by the community because of how bad the support actually handle the problem. finding both is actually the hardest part to get a good exchange

Subbir

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Quote from: Lugdunex on April 16, 2019, 11:14:14 AM

Interesting point of views, thank you for these first (very fast) replies!
I notice a great desire of increased anonymity and security, and decreased withdrawal fees.

Quote from: BitMaxz on April 16, 2019, 10:58:32 AM

I think much better to check this thread https://bitcointalk.org/index.php?topic=3028322.0;viewResults

Oh what a gold mine! Thank you for the share, I will write down these infos as well.

I support Binance because we all define great fee reduction exchanges Here the fees are low cut and lots of great exchanges. However KYC and authenticator code are far less likely to be the simplest hack.

nreal

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Quote from: metenjean on February 19, 2020, 01:00:52 PM

Good exchange have many altcoin kinds listed on their market, exactly have many pear of bitcoin and altcoin for trading, like Binance, Bittrex and Gate io I think become most worth exchange for trading and investing.

Not really, listing a lot of altcoins is not necessarily a good exchange.
- liquidity, security: these are the two factors I consider the most important
- Low cost, easy to use, good support: this is the next important factor
- Smooth stable interface, many options for placing orders: are necessary elements

Swordsoffreedom

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When I join with a newly launched exchange, I notice the following:

Their Reputations on various crypto news portal and this forum.
Exchange Rate, it must have a good exchange rate, if I exchange 10 dollars with bitcoins having 6 dollars of worth, that won’t be an ideal exchange for the consumer.
Their payment methods, A good exchange must have different payment methods in place.
Verification, verification by using national ID card or passport can protect us from money laundering or fraudulent activities.
and fees, it's optional cause a good exchange may cut off a minimum fee for providing secured environment.

The definition of a good exchange is inherent in these

quality.crypto

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Quote from: Negotiation on February 20, 2020, 04:34:31 AM

Quote from: nennanem on January 31, 2020, 09:54:33 AM

Quote from: Lugdunex on April 16, 2019, 09:58:07 AM

I need to know your preferences.

My dream is a decentralized exchange with good liquidity. I don't know how to achieve it technically but that's how I see the best possible exchange. Moreover, KYC-checks (if they are necessary) should be more straight-forward than on many existing exchanges (when you never know what else the support team is going to ask you in the next minute). I've tried one DEX but I wish it would be faster. Maybe you will find a way to achieve it.

You are right there are many places to invest differently Everyone is invested in the choice of everyone. However your choice is very good I am investing But I think the best place to provide a good exchange definition is with Binance.

Binance is one of the best places for investing because recently when they got hacked they managed to distribute the funds from their SAFU, till now, no such exchange distributed when their any attack and this indicates they are giving value to their customers and trustworthy towards their business.

desticy

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Quote from: bearexin on February 20, 2020, 06:43:12 AM

To be fair security is a big thing but looking at even the biggest exchanges you realize that all of them are vulnerable to attacks, you can't get away from hackers because no matter how strong you think the security is, they will find a better way to hack places which you will than fix later on but they already got what they wanted and they will find yet another way to hack you etc etc, basically when it comes to protecting websites are usually too late for the fixes.

However, if a place is too big to fail like binance you see them getting hacked but they are covering the damage themselves without hurting any customer which is what you should be looking for in an exchange, if they are HUGE like binance, kucoin, bittrex, coinbase and so forth, they will not damage you alongside when they get hacked or scammed.

You're right. If the place where you store your money is large enough and quite popular, then with a high degree of probability your funds stolen by hackers can be compensated.

But it’s important to understand that this probability depends on several other factors such as the amount of funds stolen from the exchange
(after all, if all the funds are stolen, the big question is whether the exchange will be able to compensate them),

the second second factor is how the exchange is currently operating on the market , an exchange may be more profitable to declare bankruptcy than repay debts.

conected

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Quote from: metenjean on February 19, 2020, 01:00:52 PM

Good exchange have many altcoin kinds listed on their market, exactly have many pear of bitcoin and altcoin for trading, like Binance, Bittrex and Gate io I think become most worth exchange for trading and investing.

- Although many options and products for customers can increase the opportunity is essential but even if one exchange owns a lot of products, altcoins are listed very diverse, if the trading volume is too low or almost zero, it can only be called a poor exchange, it cannot be assessed well based on the variety of products. A good exchange automatically has many projects they will want to collaborate and list, and good points need to come from customer and community satisfaction surveys, a good exchange should be identified as such, instead of subjective factors

Ridwan Fauzi

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Quote from: metenjean on February 19, 2020, 01:00:52 PM

Good exchange have many altcoin kinds listed on their market, exactly have many pear of bitcoin and altcoin for trading, like Binance, Bittrex and Gate io I think become most worth exchange for trading and investing.

There are a lot of altcoin on cryptocurrency market and I doubt if some of them are legit. I mean, it common thing to happen when the altcoin was delisted by an exchange because there is no investor or trader who buy it. It mean the coin has end up to shitcoin and surely they will be the big answer by an exchange why they listed it.

So as an exchange that has a lot of altcoin doesn't mean it is good. You have to see the altcoin that is being traded, if you see the altcoin that being traded are legit altcoin then you should choose but if the exchange just listed an altcoin who considered as shitcoin then I think the exchange is not deserve to be call as a good exchange.

bearexin

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To be fair security is a big thing but looking at even the biggest exchanges you realize that all of them are vulnerable to attacks, you can't get away from hackers because no matter how strong you think the security is, they will find a better way to hack places which you will than fix later on but they already got what they wanted and they will find yet another way to hack you etc etc, basically when it comes to protecting websites are usually too late for the fixes.

However, if a place is too big to fail like binance you see them getting hacked but they are covering the damage themselves without hurting any customer which is what you should be looking for in an exchange, if they are HUGE like binance, kucoin, bittrex, coinbase and so forth, they will not damage you alongside when they get hacked or scammed.

Negotiation

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Quote from: nennanem on January 31, 2020, 09:54:33 AM

Quote from: Lugdunex on April 16, 2019, 09:58:07 AM

I need to know your preferences.

My dream is a decentralized exchange with good liquidity. I don't know how to achieve it technically but that's how I see the best possible exchange. Moreover, KYC-checks (if they are necessary) should be more straight-forward than on many existing exchanges (when you never know what else the support team is going to ask you in the next minute). I've tried one DEX but I wish it would be faster. Maybe you will find a way to achieve it.

You are right there are many places to invest differently Everyone is invested in the choice of everyone. However your choice is very good I am investing But I think the best place to provide a good exchange definition is with Binance.

coin_1122

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Quote from: Bezobraznike on February 19, 2020, 03:39:03 AM

Quote from: Bohxz M4p4gm4h4l25 on February 16, 2020, 11:05:50 AM

Actually, this all depends on our own preferences and experiences. Maybe I can say that Binance waa the best exchange but you have a bad experience on this platform you will probably dont believe me. That is why I think there is no such thing as a good exchange, all of them have flaws it really depends on our preferences.

We all have feelings, but there are universal things we should consider when we choose an exchange:
-Security
-Fees
-Asset selection
-Volume
-Trading options
We can't mix our personal feelings with the reality and talk bad about exchange just because it doesn't suit us in some way.
I can't use Binance due their decision to not support my country, but I still have a great opinion about Binance and I bought
some of their tokens, I keep them in Atomic Wallet. I hope one day they will rethink their decision and allow citizens from my
country to use them.

You are right, we should consider the exchange only if they are following all conditions mentioned by you, don't worry Binance will surely accept. The above-mentioned features have already available with the Binance exchange, that's why I have chosen Binance as my best exchange.

desticy

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A good exchange should have a high level of liquidity.
The volumes and funds on such exchanges are always very high and are created by trading real people and not trading bots.

Unfortunately, it is now very difficult to distinguish between exchanged volumes from exchanges with real volumes, especially among the TOP exchanges.

After all, they use improved bot algorithms that simulate human behavior. In any case, the market already has a certain number of top exchanges among which you can choose the most suitable for you.

Topic: How do you define a good exchange? - page 13. (Read 7378 times)