1. Insured funds, so if the exchange experiences a hack or loss your funds are covered.
2. Multi-factor auth to prevent accounts from being stolen.
3. Advanced order types (more than just market and stop-limit)
4. US-based, as the US is currently doing the best job of regulating crypto exchanges and requiring that they are legitimate.
5. No wash trading, almost ALL exchanges apart from the top 10 or so are doing massive wash trading. Don't give them your money.
6. Fast customer support. This is HUGE when things go sideways and you need help.
Topic: How do you define a good exchange? - page 15. (Read 7447 times)
It’s great to be able to communicate with people like you. I found your exchange on the internet, btw. However, it was much harder to find any review of it. Well, I tried to compare it with the platform I use (https://cexbro.com/). It has BTC, USDT, ETH, LEX, right? Cex bro also has BTC, USDT, ETH, and some more vivid coins. It also has a margin trading feature. Does Lugdunex have such a feature too? Really, consider writing a review.
Every one has a priority,Traders prefer high leverage,Investors prefer having more inveatment options and the long term holders prefer having tighten security that hackers can not reach the easily.If all these options have any exchange i think it will best and same time will attract traders,investors and holders.Yobit is also good exchange you can trade and earn free coins,Yobit have also investment option which give good return.
One of the most common concern of the users is the risk, we traders transfer our coins or assets to an exchange and it's not just an amount... but a huge amount of money if you will combine all the users asset. We wanted an exchange that has a high security features but doesn't sacrifice the users identity in short we don't want to have a KYC (well a KYC can be helpful in resolving account issues) but don't force users to undergo KYC before withdrawing their funds.
Next thing is the trading fee and specially the withdrawal fee we wanted a fair fee and a low withdrawal fee. Last thing is which coin you're going to list we don't want a shit/scam coin to be listed on the exchange you should review first the coins that were going to list on your exchange, lastly is the User interface we just want a simple and easy to understand interface of your exchange.
A good exchange is the one that offers you multiple methods of payment, costs you less transactions and withdrawal fees, one that have good verification requirements, offers you less geographical restrictions and proposes good exchange rates. After long day and night struggle the money that you have earn you will never want to invest it in a trade that offers you less profit. Next thing is the trading fee and specially the withdrawal fee we wanted a fair fee and a low withdrawal fee. Last thing is which coin you're going to list we don't want a shit/scam coin to be listed on the exchange you should review first the coins that were going to list on your exchange, lastly is the User interface we just want a simple and easy to understand interface of your exchange.
One of the most common concern of the users is the risk, we traders transfer our coins or assets to an exchange and it's not just an amount... but a huge amount of money if you will combine all the users asset. We wanted an exchange that has a high security features but doesn't sacrifice the users identity in short we don't want to have a KYC (well a KYC can be helpful in resolving account issues) but don't force users to undergo KYC before withdrawing their funds.
Next thing is the trading fee and specially the withdrawal fee we wanted a fair fee and a low withdrawal fee. Last thing is which coin you're going to list we don't want a shit/scam coin to be listed on the exchange you should review first the coins that were going to list on your exchange, lastly is the User interface we just want a simple and easy to understand interface of your exchange.
I could summarize the things that you have highlighted as characteristics of a good exchange in just two words. A good exchange is the one that keeps a check of two things. Firstly, the privacy of the user must not be breached at any cost and the second thing is it must provide complete information about currency exchange rates or current prices. Next thing is the trading fee and specially the withdrawal fee we wanted a fair fee and a low withdrawal fee. Last thing is which coin you're going to list we don't want a shit/scam coin to be listed on the exchange you should review first the coins that were going to list on your exchange, lastly is the User interface we just want a simple and easy to understand interface of your exchange.
Also, I want to have fast withdrawal with less fee, and have a great customer service.
Well, everyone wants that, and actually that's the standard of exchanges right now.
However for less fee, I don't think you can find it, most of the exchanges are asking a fee that are just based on the market standard, but if you like less fee, you could use unpopular exchange I guess but that's not safe, also, even with unpopular exchange, some of them even have high fee.
The key here is just as long as it's based on standard, it's always justifiable.
One of the most common concern of the users is the risk, we traders transfer our coins or assets to an exchange and it's not just an amount... but a huge amount of money if you will combine all the users asset. We wanted an exchange that has a high security features but doesn't sacrifice the users identity in short we don't want to have a KYC (well a KYC can be helpful in resolving account issues) but don't force users to undergo KYC before withdrawing their funds.
Next thing is the trading fee and specially the withdrawal fee we wanted a fair fee and a low withdrawal fee. Last thing is which coin you're going to list we don't want a shit/scam coin to be listed on the exchange you should review first the coins that were going to list on your exchange, lastly is the User interface we just want a simple and easy to understand interface of your exchange.
if you want a secure exchange then you have to give up large withdrawal fees, because they will have features that are certainly better. while for KYC I think more about tracking company identities and needs as well as knowing their users' information.Next thing is the trading fee and specially the withdrawal fee we wanted a fair fee and a low withdrawal fee. Last thing is which coin you're going to list we don't want a shit/scam coin to be listed on the exchange you should review first the coins that were going to list on your exchange, lastly is the User interface we just want a simple and easy to understand interface of your exchange.
and do not expect more if you do not want to spend big money in fees, because the full features possessed by large exchanges then they need the tools and the need to pay the people who work in it.
I honestly believe that the most important thing about the exchange is security including customer privacy. You can also add some promotion to your exchange maybe to increase volume. Another thing that is really important is tiny fees. Many exchange fees on this day are so ridiculous. Good luck with the exchanges and I hope you'll provide us with anything better than we have now.
There are a lot of exchange in the cryptocurrency world now. It is hard to choose which of them is the best, I think if the OP will make his own exchange he should have a unique idea that the top exchanges that are listed in the coinmarketcap dont have. Having the best security is not enough now, even binance and others has it, a better idea and more unique one is needed, together with a good dev.Well, why not, for me I would prefer exchange that does not require any KYC at all, as I don't want to compromise my own identity especially if that exchange is still new, I am okay with KYC if you also already proven your existence for example you are in the industry and been transparent for more than 2 years.
Also, I want to have fast withdrawal with less fee, and have a great customer service.
I also don't like to use KYC, but most and even some large markets require it, and I am forced to follow it. Will KYC help us if we lose anything on the exchange? so far I am still confused by the function that requires KYC.
I honestly believe that the most important thing about the exchange is security including customer privacy. You can also add some promotion to your exchange maybe to increase volume. Another thing that is really important is tiny fees. Many exchange fees on this day are so ridiculous. Good luck with the exchanges and I hope you'll provide us with anything better than we have now.
There are a lot of exchange in the cryptocurrency world now. It is hard to choose which of them is the best, I think if the OP will make his own exchange he should have a unique idea that the top exchanges that are listed in the coinmarketcap dont have. Having the best security is not enough now, even binance and others has it, a better idea and more unique one is needed, together with a good dev.Well, why not, for me I would prefer exchange that does not require any KYC at all, as I don't want to compromise my own identity especially if that exchange is still new, I am okay with KYC if you also already proven your existence for example you are in the industry and been transparent for more than 2 years.
Also, I want to have fast withdrawal with less fee, and have a great customer service.
One of the most common concern of the users is the risk, we traders transfer our coins or assets to an exchange and it's not just an amount... but a huge amount of money if you will combine all the users asset. We wanted an exchange that has a high security features but doesn't sacrifice the users identity in short we don't want to have a KYC (well a KYC can be helpful in resolving account issues) but don't force users to undergo KYC before withdrawing their funds.
Next thing is the trading fee and specially the withdrawal fee we wanted a fair fee and a low withdrawal fee. Last thing is which coin you're going to list we don't want a shit/scam coin to be listed on the exchange you should review first the coins that were going to list on your exchange, lastly is the User interface we just want a simple and easy to understand interface of your exchange.
Next thing is the trading fee and specially the withdrawal fee we wanted a fair fee and a low withdrawal fee. Last thing is which coin you're going to list we don't want a shit/scam coin to be listed on the exchange you should review first the coins that were going to list on your exchange, lastly is the User interface we just want a simple and easy to understand interface of your exchange.
I honestly believe that the most important thing about the exchange is security including customer privacy. You can also add some promotion to your exchange maybe to increase volume. Another thing that is really important is tiny fees. Many exchange fees on this day are so ridiculous. Good luck with the exchanges and I hope you'll provide us with anything better than we have now.
There are a lot of exchange in the cryptocurrency world now. It is hard to choose which of them is the best, I think if the OP will make his own exchange he should have a unique idea that the top exchanges that are listed in the coinmarketcap dont have. Having the best security is not enough now, even binance and others has it, a better idea and more unique one is needed, together with a good dev.
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.
I honestly believe that the most important thing about the exchange is security including customer privacy. You can also add some promotion to your exchange maybe to increase volume. Another thing that is really important is tiny fees. Many exchange fees on this day are so ridiculous. Good luck with the exchanges and I hope you'll provide us with anything better than we have now.
I would need all the features like Binance where even if we hold the tokens on the platform then also we will get the benefit of staking rewards. If there is less KYC, that would attract more people but the governments will strongly oppose it. A decentralized exchange is always better than centralized, but as the profit is less, you cant provide good service in decentralized exchange.
It is better to have staking in an exchange than holding a coin from nothing. The dividends would be also help in order to provide a guarantee with the token holders since we holding a coin not just for a month but in might be goes in a quarter and worst if it in a year. But it is useless if there is no staking at all. So, it would be helpful also for me if I am trading in an exchange with staking. Hello to all the Bitcointalkers!
Because it is my first post, I have, at least, to present myself in several words. I am a coins/tokens dev and web developer full stack.
After several years of crypto experience, I decided to create my own project. It is not a coin, nor a token (there is already plenty of ERC20 tokens and coins), it is a cryptocurrency exchange.
There is already some exchanges available on the web, but I would like to build one which may fit to Bitcointalk users, it's why I opened this thread, and ask you today what do you like the most in crypto exchanges, as well as the things that you dislike. It can be specific features, themes, properties...
I want to build a good exchange, and for that I need to know your preferences.
Waiting for your replies
Lugdunex
A good exchange should have:Because it is my first post, I have, at least, to present myself in several words. I am a coins/tokens dev and web developer full stack.
After several years of crypto experience, I decided to create my own project. It is not a coin, nor a token (there is already plenty of ERC20 tokens and coins), it is a cryptocurrency exchange.
There is already some exchanges available on the web, but I would like to build one which may fit to Bitcointalk users, it's why I opened this thread, and ask you today what do you like the most in crypto exchanges, as well as the things that you dislike. It can be specific features, themes, properties...
I want to build a good exchange, and for that I need to know your preferences.
Waiting for your replies
Lugdunex
Strong security feature: It is important to protect your funds from hackers
Nice design: I don't want the chart broken when i zoom it on my laptop or smartphone.
Good exchange have good support that you can contact anytime once you have problem in that exchange. And good exchange have small fee in trading and also in withdrawal that i think is the best exchange. Because many exchanger have big fee specially in withdrawal. So be guided and Search more for the good exchange.
Fee is really important, a small fee would attract more traders and that would still make the exchange profitable. Trading fee and wihrdawal fee are both important to me, and what's also important is the processing of withdrawal as we traders wants things to be instant.
Honestly as long as they can prove they will not be stealing my money I would trust them. I know its hard to prove people that you won't steal their money but luckily Binance had that chance and thats a very important part of who they are, they got thousands of coins stolen from them and not a single person was affected because of it, they paid it from their pocket and continued operations like nothing happened, thats really important to me and how the crypto world runs. If any other place manages to find a "proof" that they won't scam me or steal my money I would trust them as well. Of course volume also plays a HUGE role in it as well, not all exchanges have decent volumes so having a good volume matters a lot.
Good exchange have good support that you can contact anytime once you have problem in that exchange. And good exchange have small fee in trading and also in withdrawal that i think is the best exchange. Because many exchanger have big fee specially in withdrawal. So be guided and Search more for the good exchange.
A good exchange consists of many features. All of the exchange are now have the same characteristics, I want an exchange that have automatic execution where I it will trade it self when my target price hits or my cut loss price hits. A good exchange also for me have a good service team where I can easily interact with them if I experience some minor or major problems.
Definitely support. It has got to be quick, responsive and smart. I immediately stop using financial services with CS departments that are told to copy/paste responses and you get a feeling like talking with telegram bot. Other thing is security but this I am not able to verify myself. ALso I think that if an exchange has been hacked already and they managed it right, then it's a very very good sign. If you get untouched company then you never know where you are at when it comes to safety. If they got screwed, but only for a little coz their systems stopped the leak and they repaid everyone quickly, then they got me as a customer.
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