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Topic: How do you define a good exchange? - page 16. (Read 7378 times)

sr. member
Activity: 400
Merit: 268
January 02, 2020, 11:48:35 AM
I personally think that there are already more than enough exchanges in existence and if you are so enthusiastic about Cryptocurrencies, you should instead help in developing existing blockchain infrastructures to achieve enough scalability to comfortably achieve worldwide adoption.

Anyways my best features in n exchange is the userbase, the number of traders in the exchange is a very big factor for me, because it always ensures that there are always large buy and sell order in the exchange and when I set a Stop-loss, it is guaranteed to be filled whenever it is triggered. And I love low withdrawal fees and security too.
sr. member
Activity: 742
Merit: 397
January 02, 2020, 08:28:31 AM
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.
I really don't like to provide my personal information on exchanges even thou they require it for you to be able to withdraw huge funds. And i think providing an information in exchange can be at risk and stolen.

That's why i prefer exchange that doesn't require KYC and able to withdraw and deposit funds in a small amount and this good for people who has trust issues.
But there are only few exchanges that are offering that kind of feature, most of exchanges nowadays are requiring KYC because of the compliance that they need to do in order to accept and continue the operation. A good exchange for me is when it has fast way of communication in terms of a user who want to ask question or help to solve a specific problem.
Yes, almost all of the exchanges are requiring a KYC to make sure that there will be no suspicious activities inside their exchange and to help its users to add more security layers to their account. Reliable exchanges are the best one because we know that there will be no problem in the future because of their strong cooperation with its users.
sr. member
Activity: 1456
Merit: 359
January 02, 2020, 12:19:24 AM
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.
I really don't like to provide my personal information on exchanges even thou they require it for you to be able to withdraw huge funds. And i think providing an information in exchange can be at risk and stolen.

That's why i prefer exchange that doesn't require KYC and able to withdraw and deposit funds in a small amount and this good for people who has trust issues.
But there are only few exchanges that are offering that kind of feature, most of exchanges nowadays are requiring KYC because of the compliance that they need to do in order to accept and continue the operation. A good exchange for me is when it has fast way of communication in terms of a user who want to ask question or help to solve a specific problem.
sr. member
Activity: 1372
Merit: 264
January 02, 2020, 12:09:11 AM
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.
I really don't like to provide my personal information on exchanges even thou they require it for you to be able to withdraw huge funds. And i think providing an information in exchange can be at risk and stolen.

That's why i prefer exchange that doesn't require KYC and able to withdraw and deposit funds in a small amount and this good for people who has trust issues.
hero member
Activity: 1778
Merit: 504
WorkAsPro
January 01, 2020, 08:33:17 PM
I honestly believe that the most important thing about the exchange is security including customer privacy.
This is what you mean that you avoided KYC verification? Most centralized exchange as of now are requiring personal information and you can't hide your privacy to them. But I like the concept of Binance, if you are a small trader you will not require to pass the KCY but if you are a big-time trader, you need to have KYC as their requirements. But I completely hate the decentralized exchange because of the low value you can't have a quick trade, just like buy and sell.
Centralized exchangers do have that kind of requirement when you do already trading up with big volumes which you would need to pass up KYC yet its still optional same as you said where binance doesnt ask out
when you arent trading beyond 2BTC per day tx.

DEX is good but they do lack out liquidity and support.Reason why centralized exchange do have been preferred? since they can trade up crypto/fiat transactions.
Decentralized exchanges are often very few users because so many bad projects are listed so investors will usually not deposit to buy those coins. I think centralized exchange is still the place that earns the highest profit at the moment and some leading exchanges like Binance, Bitmax, Huobi often don't force KYC users so it is very convenient for you to trade.

However, if you are a large investor and want to withdraw more than 100 BTC per day, you should make KYC to ensure your rights when participating and for me KYC is essential when you choose to invest.
hero member
Activity: 2730
Merit: 632
January 01, 2020, 12:32:13 PM
I honestly believe that the most important thing about the exchange is security including customer privacy.
This is what you mean that you avoided KYC verification? Most centralized exchange as of now are requiring personal information and you can't hide your privacy to them. But I like the concept of Binance, if you are a small trader you will not require to pass the KCY but if you are a big-time trader, you need to have KYC as their requirements. But I completely hate the decentralized exchange because of the low value you can't have a quick trade, just like buy and sell.
Centralized exchangers do have that kind of requirement when you do already trading up with big volumes which you would need to pass up KYC yet its still optional same as you said where binance doesnt ask out
when you arent trading beyond 2BTC per day tx.

DEX is good but they do lack out liquidity and support.Reason why centralized exchange do have been preferred? since they can trade up crypto/fiat transactions.
sr. member
Activity: 2366
Merit: 305
Duelbits - $100k Bonus/week
January 01, 2020, 11:51:16 AM
I honestly believe that the most important thing about the exchange is security including customer privacy.
This is what you mean that you avoided KYC verification? Most centralized exchange as of now are requiring personal information and you can't hide your privacy to them. But I like the concept of Binance, if you are a small trader you will not require to pass the KCY but if you are a big-time trader, you need to have KYC as their requirements. But I completely hate the decentralized exchange because of the low value you can't have a quick trade, just like buy and sell.
hero member
Activity: 1106
Merit: 503
BabelFish - FISH Token Sale at Sovryn
January 01, 2020, 11:47:17 AM
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.
newbie
Activity: 8
Merit: 0
January 01, 2020, 11:24:56 AM
Not mentioned in most posts, but arguably the most important feature: top-tier security for user deposits and company holdings. Multi-factor authentication support with support for SMS (flawed, but better than nothing in most cases), security devices (yubikey, etc), and OTP applications like Google Authenticator or Norton VIP Access. Additionally, I like how some exchanges delay withdrawals after certain account events. For instance, if a password is changed, you can't withdrawal for 3 days, or if you're signed in from a new IP maybe there is a delay. This helps if your account is hacked, you can notify the support team ahead of time and they can freeze the deposit.
sr. member
Activity: 826
Merit: 250
CryptoTalk.Org - Get Paid for every Post!
January 01, 2020, 11:03:30 AM
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 Smiley
Lugdunex
for me good exchange is high trading volumes, no need KYC in there because i think KYC is secret so no need to Requirements in there, low fees in transactions and low fees in trading, then easy to use start to language and skin, have good team in there like friendly team in customer service

additional options maybe exchange that have many give away in there so its be favorit by many people Grin
newbie
Activity: 12
Merit: 0
January 01, 2020, 10:50:49 AM
No kyc, good volume and market making activity. Ideal has low trading fee, with support for leverage trades
sr. member
Activity: 1512
Merit: 316
January 01, 2020, 10:45:23 AM
I define a good exchange is to look at the service and the amount of fees they offer. If the service is good and the feats are not too expensive, this is a good category for me. Because surely there will be many traders who will use this exchanger so that the trading volume there will increase

I like the exchange which is easy to use and have minimum account creation requirement. It has good and prompt support system and solves the customers queries. Have easy and self-explanatory site and easy to use. Also, the trading fees is kept to minimum.
sr. member
Activity: 840
Merit: 255
SportsIcon - Connect With Your Sports Heroes
January 01, 2020, 10:26:27 AM
Trading volume,Leverage matters for a good trading exchange platform,As we know the crypto market is growing also competition and users also increasing every user have own priories to looking for a platform.

Catching up majority of community must offer different services and platforms on Exchange like,STAKING,LENDING,BONUS,FREE-COINS,USEFUL-ACTIVITIES and provide platform to community where can share ides and problems facing on exchange also have a room to solve their problems. Interface of Exchange matter alot because users prefer attractive and easy to use interface save their time.
legendary
Activity: 1890
Merit: 1003
December 31, 2019, 12:27:17 PM
I define a good exchange is to look at the service and the amount of fees they offer. If the service is good and the feats are not too expensive, this is a good category for me. Because surely there will be many traders who will use this exchanger so that the trading volume there will increase
I think you shouldn't just look at the fees they offer. Many good exchanges have high fees because their server are expensive or their service worth it. Money make people work more productive Cheesy
The crazy amounts turn in the exchanges and they still want to take advantage of high withdrawal fees. From my experience, the withdrawal fee costs a lot if the trader has a special type of trading strategy. In an example, the arbitrage traders use the trading bots for taking advantage of the price differences on different exchanges. If the exchange has a higher withdrawal fee, the profit rate will drop drastically and the profit curve in the account statement will not go up in 20 trades.
hero member
Activity: 1540
Merit: 508
December 31, 2019, 12:02:49 PM
I define a good exchange is to look at the service and the amount of fees they offer. If the service is good and the feats are not too expensive, this is a good category for me. Because surely there will be many traders who will use this exchanger so that the trading volume there will increase
I think you shouldn't just look at the fees they offer. Many good exchanges have high fees because their server are expensive or their service worth it. Money make people work more productive Cheesy
legendary
Activity: 1512
Merit: 1010
ITSMYNE 🚀 Talk NFTs, Trade NFTs 🚀
December 31, 2019, 03:22:54 AM
There are lots of things to look out to make a good exchange. First thing is attracting users/real traders is hard. If you do giveaways frequently then there is a possibility to get some users. People are more tending towards Decentralized exchange these days but still lots of centralized exchanges are running the market for their services.
full member
Activity: 1093
Merit: 103
December 31, 2019, 02:39:51 AM
Good exchange for has liquidity and low fees. It should not be fake volume because that is really disgusting for the part of traders. We need transparency here since this is the common goal of each of cryptocurrency. Exchange who have higher fees also is my hate because I am a small investor only and fees that I paid in exchange is worthy in my case.

in this case binance - latoken - and hotbit according to the criteria each of you mentioned, for me liquidity remains the most important, and then is stability of the exchange system in dealing with problems that arise with satisfactory services, the last is that various trading options are provided in a complete package on the same platform.
The fact is that you can use the highest rated cryptocurrency exchanges in order to trade the highest rated cryptocurrencies, and for this I take Coinmarketcap indicators into account.  But if it comes to daily trading with lesser-known cryptocurrencies, then you need to choose only the cryptocurrency exchange where the trading volumes are the largest.  Perhaps the choice in this case is small, but you need to look for a profitable option.
sr. member
Activity: 882
Merit: 268
December 30, 2019, 10:20:21 PM
Good exchange for has liquidity and low fees. It should not be fake volume because that is really disgusting for the part of traders. We need transparency here since this is the common goal of each of cryptocurrency. Exchange who have higher fees also is my hate because I am a small investor only and fees that I paid in exchange is worthy in my case.

in this case binance - latoken - and hotbit according to the criteria each of you mentioned, for me liquidity remains the most important, and then is stability of the exchange system in dealing with problems that arise with satisfactory services, the last is that various trading options are provided in a complete package on the same platform.
sr. member
Activity: 1498
Merit: 271
DGbet.fun - Crypto Sportsbook
December 29, 2019, 10:43:00 AM
Good exchange for has liquidity and low fees. It should not be fake volume because that is really disgusting for the part of traders. We need transparency here since this is the common goal of each of cryptocurrency. Exchange who have higher fees also is my hate because I am a small investor only and fees that I paid in exchange is worthy in my case.
hero member
Activity: 1540
Merit: 508
December 29, 2019, 09:35:20 AM
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 Smiley
Lugdunex
Based on this thread: https://bitcointalksearch.org/topic/what-are-the-three-most-important-features-of-a-crypto-exchange-3028322, these are top features that people want from an exchange: Cold storage of coins, Availability/up-time, Anonymity and Fiat currencies. In my opinion, a good exchange should has good security (2fa authencation for example).
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