Topic: How do you define a good exchange? - page 26. (Read 7119 times)
A good exchange for me is that there are development every week or every month so the users will be more engaged in the platform. An example of this exchange is the exchange in my signature, it is called Cat.ex a transaction mining exchange and there are lots of things present in this exchange. You guys should check this out.
For me transparency is everything. Crypto exchange must safe and secure as well. The CEO of exchange must be trusted too and prove that he is transparent.And most important the exchange should not much complain about their withdrawals too.
I must definitely had no compromise with these things when I choose and exchange the first thing is it need to be trusted and then only I made the the confidence about the exchange and it needs to be transparent with everything that to be clear for me then only I choose and define it will be the good exchange everytime
See dude, first of all you need to understand that you are seeking for other members opinion. And to be very much honest, it will really differ a lot from person to person, user to user.
Okay let me tell you how people like me can define what a good exchange should be.
So there are mainly two things, first No KYC and secondly faster deposits and withdrawals.
These two things can really work for me.
And yes most importantly the site should not have a bad reputation 😊
Okay let me tell you how people like me can define what a good exchange should be.
So there are mainly two things, first No KYC and secondly faster deposits and withdrawals.
These two things can really work for me.
And yes most importantly the site should not have a bad reputation 😊
What I like best in crypto exchanges is low fee fees and fast transactions. Because each exchange has a different fee, and to make it easier not to allow KYC.
Insurance is the only thing currently that I want and expect from an exchange. It could be hacked anytime but if it has an insurance, there is a possibility we could get back our investments. KYC is not such a problem if the exchange does have an insurance.
Is there insurance that provides these services?If there is, then this is an amazing thing. But in fact in the field we all will not find it and even a good reputation exchange does not provide these services. what is available is that the security system is strengthened, now KYC is one of the good features, there is also 2FA that makes security better, there are many security procedures that have been improved and of course that is only available on quality exchange services too.
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
When an exchange have high trading volume then it literally means as good exchange because people will not trade on bad exchanges much.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
If you are going to launch your new crypto exchange then it is not easy to make people trade on your exchange even if you are better than those big exchange,so just advertise it as much as you can and bring traders and more coins on your exchange.
Insurance is the only thing currently that I want and expect from an exchange. It could be hacked anytime but if it has an insurance, there is a possibility we could get back our investments. KYC is not such a problem if the exchange does have an insurance.
Dont expect for these exchangers to give out some insurance.If it does then they would comply heavily when it comes to legality and as an exchange owner it wont really be an easy thing.When we do talk about good exchange is something that doesnt give out any headaches when it comes to their service. Good UI, Fast support,Low Fees etc.
We have different perspection on how we distinguish a good exchange and I think it is about how we experience it on our own work. You can't determine a good exhange when you don't have enough knowledge on trading. In fact, experiencing mistake will lead you to become a great exchanger. And when you are skillful we are able to choose and deliberate an accurate outcome.
Each of us has different pteferences when speaking of exchange. I prefer secured and accessible exchange. What I mean by accessible is, it doesn't require you to do KYC to be able to use the whole function of the exchange such as withdrawal. If possible an exchange with almost major altcoin is listed and of course a trouble free, fast, and cheap deposit and withdrawal.
To be honest, when I am new in crypto trading, I try to register on every crypto exchanges no matter I know how to trade or not. Then I will see the interface, trying to look at the order buy and sell, try to figure out the volume and the order, and if I feel comfortable with the exchanges, then I will try to send some bits to try trading.
But if in the middle of my trade my feeling says that is not good to stay or there is something wrong with the site, I will move all of my balances to the other sites. Gladly, in the past, KYC is not already applied so that I can move the balances with easy. And after that, I only try to stick on the website that I feel comfortable with them and do KYC if necessary.
But if in the middle of my trade my feeling says that is not good to stay or there is something wrong with the site, I will move all of my balances to the other sites. Gladly, in the past, KYC is not already applied so that I can move the balances with easy. And after that, I only try to stick on the website that I feel comfortable with them and do KYC if necessary.
Well, much can be added to an exchange if you are a good dev.
But the main factor of an exchange is the security of user funds because exchanges are the target of hackers nowadays. Make sure you have security knowledge at the highest level.
And the second option I would say is to add both functions > Stop Loss and Take Profit. So that we can set both the features at a time for a single trade.
But the main factor of an exchange is the security of user funds because exchanges are the target of hackers nowadays. Make sure you have security knowledge at the highest level.
And the second option I would say is to add both functions > Stop Loss and Take Profit. So that we can set both the features at a time for a single trade.
Insurance is the only thing currently that I want and expect from an exchange. It could be hacked anytime but if it has an insurance, there is a possibility we could get back our investments. KYC is not such a problem if the exchange does have an insurance.
Dont expect for these exchangers to give out some insurance.If it does then they would comply heavily when it comes to legality and as an exchange owner it wont really be an easy thing.When we do talk about good exchange is something that doesnt give out any headaches when it comes to their service. Good UI, Fast support,Low Fees etc.
I can resume like this: a good exchange is the one that I never need to create a support ticket. I just want what is advertised on the site
But real points are:
- Always working as it should be, no bug, downtime, etc...
When a website is slow or freezes I'm pissed off
- No problem with their bank(s)
I want an "always working solution" I don't want to wonder each time if my SEPA will be successful
- Easy and intuitive to use.
I like simple things that go straight to the point.
- Fees average.
It's something I don't care much if I get what I want, of course, I have a limit
But real points are:
- Always working as it should be, no bug, downtime, etc...
When a website is slow or freezes I'm pissed off
- No problem with their bank(s)
I want an "always working solution" I don't want to wonder each time if my SEPA will be successful
- Easy and intuitive to use.
I like simple things that go straight to the point.
- Fees average.
It's something I don't care much if I get what I want, of course, I have a limit
If you are wish to start trade please follow your own strategy and follow the exchange's telegram community find the instant growth and fall of specific cryptocurrency.
Please check what you are investing
Coins circulation over the multiple exchanges
Liquidity
Demand and supply
Please check what you are investing
Coins circulation over the multiple exchanges
Liquidity
Demand and supply
A good good exchange should:
1. Allow users to use the exchange without KyC for low amounts
2. Process withdraws and deposits fast
3. Process problems swiftly
1. Allow users to use the exchange without KyC for low amounts
2. Process withdraws and deposits fast
3. Process problems swiftly
I see most users want to get around KYC procedure and trade / withdraw completely anonymous. It is less and less possible, so there is no choice but to adjust to changes if we want to trade on centralized exchanges.
Problem with KCY is that on some exchanges that procedure takes too long, or that exchanges ask for too much documents. There is also a great deal of concern for security and privacy of such data, this must be one of the top priorities of any exchange.
In addition, users are expecting that their funds / coins are secured in the best possible way, and that means that exchange should keeps most of coins in cold wallets, and that is have some insurance policy in the case of hacking. Also another important thing is user support, what is the weak point of some crypto exchanges. It must be fast and available 24 hours a day, 7 days a week.
Problem with KCY is that on some exchanges that procedure takes too long, or that exchanges ask for too much documents. There is also a great deal of concern for security and privacy of such data, this must be one of the top priorities of any exchange.
In addition, users are expecting that their funds / coins are secured in the best possible way, and that means that exchange should keeps most of coins in cold wallets, and that is have some insurance policy in the case of hacking. Also another important thing is user support, what is the weak point of some crypto exchanges. It must be fast and available 24 hours a day, 7 days a week.
snip~
Themes, designs, interface or overall being a user friendly is a basic requirements. It's obvious what should be the approach here of the owners.Most people concerned about; how safe is our funds there? what legal actions you take to make your exchange/business an official and registered company? can you or your staff able to keep up with people's minor and major problem all the time? any many more...
Establishing an exchange is not a joke. We, as a trader, newbies or not, should only deal with the professionals.
Yes, legitimacy will be our main concern as we feel secured but it turns me off also when there is delays of deposits and withdrawals.
The competition among exchanges are getting strong and we should be careful cause some of them looks attractive but they have that black intention to us.
Welcome in bitcointalk.org!
What if you create an exchange that certainly dedicated for bitcointalk traders. A buyer can look for available sell orders and choose the escrow that he wants to avail with that deal, there's an option to have no escrow if the buyer/seller is reputable. And of course, it will go automatically, how's that? and the amount will be sent directly to the escrow and you just have to wait for their response and validation.
What if you create an exchange that certainly dedicated for bitcointalk traders. A buyer can look for available sell orders and choose the escrow that he wants to avail with that deal, there's an option to have no escrow if the buyer/seller is reputable. And of course, it will go automatically, how's that? and the amount will be sent directly to the escrow and you just have to wait for their response and validation.
snip~
Themes, designs, interface or overall being a user friendly is a basic requirements. It's obvious what should be the approach here of the owners.Most people concerned about; how safe is our funds there? what legal actions you take to make your exchange/business an official and registered company? can you or your staff able to keep up with people's minor and major problem all the time? any many more...
Establishing an exchange is not a joke. We, as a trader, newbies or not, should only deal with the professionals.
Yes, legitimacy will be our main concern as we feel secured but it turns me off also when there is delays of deposits and withdrawals.
The competition among exchanges are getting strong and we should be careful cause some of them looks attractive but they have that black intention to us.
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
Themes, designs, interface or overall being a user friendly is a basic requirements. It's obvious what should be the approach here of the owners.
Most people concerned about; how safe is our funds there? what legal actions you take to make your exchange/business an official and registered company? can you or your staff able to keep up with people's minor and major problem all the time? any many more...
Establishing an exchange is not a joke. We, as a trader, newbies or not, should only deal with the professionals.
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