How you choose the exchange for trading? Vote! - page 5.

yrreg ger

sr. member

Activity: 448

Merit: 250

Quote from: Kramblerty on February 15, 2018, 10:29:54 AM

Quote from: Julunguul on February 14, 2018, 06:57:57 PM

The only thing that i choose from exchange are because its securities. That was become the vital terms to choosing a trustful one. Eventhough we know how good are exchange security now. Its still have a chance of being hacked.

And the second is how customer support respond.

Hackers attack the exchanges which 1. have a nice stake of assets 2. have the holes in the protection allowing to get these assets
But the cost of assets must be higher than the cost of theft organisation.

Security is the number one criteria for me because I want to ensure that I will be receiving my money safely. I have experienced a problem before with withdrawals in an exchanges and I don't want to experience that again. For weeks, I haven't able to withdraw and I was really worried because it was a good amount and I need that for my dissertation. I contacted their customer support but there was no response. Good thing, though it took weeks, I got it and with that experience I learned that not because it is an exchanges that you should trust it and be comfortable with it at all times.

Kramblerty

member

Activity: 266

Merit: 15

Quote from: Julunguul on February 14, 2018, 06:57:57 PM

The only thing that i choose from exchange are because its securities. That was become the vital terms to choosing a trustful one. Eventhough we know how good are exchange security now. Its still have a chance of being hacked.

And the second is how customer support respond.

Hackers attack the exchanges which 1. have a nice stake of assets 2. have the holes in the protection allowing to get these assets
But the cost of assets must be higher than the cost of theft organisation.

Jekbolt

member

Activity: 266

Merit: 20

Quote from: GlassMaster on February 15, 2018, 03:09:36 AM

The most important indicator for the exchange is security, ease of use and user support, and of course favorable prices, this also determines the country in which the exchange. The benefit now is a lot of exchanges and there is something to choose from.

"...and of course favorable prices, this also determines the country in which the exchange...."
Favorable prices on exchange services or on crypto-assets traded there?

GlassMaster

full member

Activity: 196

Merit: 100

The most important indicator for the exchange is security, ease of use and user support, and of course favorable prices, this also determines the country in which the exchange. The benefit now is a lot of exchanges and there is something to choose from.

Kramblerty

member

Activity: 266

Merit: 15

Quote from: Jekbolt on February 14, 2018, 08:19:26 PM

Quote from: Nakaba on February 14, 2018, 06:09:52 PM

This is how i choose an trading platform for cryptocurrency in order:

*High degree of security
Means cold storage of crypto, 2FA, perfect protection of clients private data and funds.

*The lowest fees on the market
Means the lowest total cost of trading: including deposit fee, trade fees, withdrawal fee and best limits policy.

*Fast and excellent customer support

*Crypto-favorable country of Exchange's registration
Means a comparatively low risk of exchange closure by regulators.

I always prioritize security because it is the usual issue or reason why the trading platform closed.

Could you please specify which countries you will definitely avoid? China, for example, what else?

+ Korea

Jekbolt

member

Activity: 266

Merit: 20

Quote from: Nakaba on February 14, 2018, 06:09:52 PM

This is how i choose an trading platform for cryptocurrency in order:

*High degree of security
Means cold storage of crypto, 2FA, perfect protection of clients private data and funds.

*The lowest fees on the market
Means the lowest total cost of trading: including deposit fee, trade fees, withdrawal fee and best limits policy.

*Fast and excellent customer support

*Crypto-favorable country of Exchange's registration
Means a comparatively low risk of exchange closure by regulators.

I always prioritize security because it is the usual issue or reason why the trading platform closed.

Could you please specify which countries you will definitely avoid? China, for example, what else?

Julunguul

member

Activity: 473

Merit: 11

The only thing that i choose from exchange are because its securities. That was become the vital terms to choosing a trustful one. Eventhough we know how good are exchange security now. Its still have a chance of being hacked.

And the second is how customer support respond.

Nakaba

member

Activity: 167

Merit: 11

This is how i choose an trading platform for cryptocurrency in order:

*High degree of security
Means cold storage of crypto, 2FA, perfect protection of clients private data and funds.

*The lowest fees on the market
Means the lowest total cost of trading: including deposit fee, trade fees, withdrawal fee and best limits policy.

*Fast and excellent customer support

*Crypto-favorable country of Exchange's registration
Means a comparatively low risk of exchange closure by regulators.

I always prioritize security because it is the usual issue or reason why the trading platform closed.

BitCare

member

Activity: 154

Merit: 10

I look at such criterias as name, popularity, trading volume. Also on fact is exchange platform decentralized or centralized. And, of cource, history of platform (was it hacked or no, where is it plased and others).

JesusCryptos

full member

Activity: 714

Merit: 117

Quote from: siddartha1492 on February 13, 2018, 08:48:08 AM

This is indeed a good list of good exchange parameters. The top four parameters I chose:

1) Crypto-favorable country of Exchange's registration - Certainly you wouldn't want to set up an exchange in China right now.
2) High degree of security - Can't be traded with any other parameter
3) Fast and excellent customer support - Hint:Poloniex
4) Ease of use - For people like me, who aren't a big fan of advanced features.

I did not choose "lowest fees" and "Ability to buy/sell at best prices" because these things are already competitive and so no big difference.
"Availability of margin or/and derivatives trading", haven't tried these features. I just go for market price, LOL!

These are exactly the four parameters that I have chosen for myself too. The number 2 of course is the most important of all. I have already been screwed in 4 hacked exchanges in the past.

Vazil

jr. member

Activity: 112

Merit: 6

The more the pairs traders can trade the better!

Jekbolt

member

Activity: 266

Merit: 20

Quote from: yareklamator on February 14, 2018, 05:16:50 AM

As far as I can see from the survey, the answer about safety is the most popular one. I myself chose this item first. Quick withdrawal of money from the exchange and a large variety of coins - this is also very important. Now, Kucoin is rapidly gaining momentum and competing with large players.

How many coins has the Kukoin? In other exchanges the number of alt coins varies from 250-310.

Jekbolt

member

Activity: 266

Merit: 20

Quote from: adam1230 on February 14, 2018, 05:17:14 AM

Current major exchanges are doing good but we need more liquidty at decentralized exchanges such as etherdelta and idex.
Centralized exchanges are going to have more hacking problems in near future.

You'r right,,,the high concentration of capital in major exchanges will attract both: hackers and legal authorities/restrictions. Don't know who are worse=)

RDNX

member

Activity: 392

Merit: 11

From those list, I can say, only three parameters which suitable with me.

1. High degree of security Yes, this is very important things. I usually stored many assets in exchanges, so high security is a must
2. Fast and excellent customer support I very hate some exchanges which not respect their customers.
3. The lowest fees on the market This is important to, as a trader, we have to get more profit and search the lowest fee exchanges.

Jekbolt

member

Activity: 266

Merit: 20

Quote from: Tony116 on February 14, 2018, 05:09:20 AM

In my opinion it would be much better to divide "Ability to buy/sell at best prices" into 2 options: liquidity and the amount of trading cryptos. I just can't see the tie between "Ability to buy/sell at best prices" and "abundance of trading pairs" at all.

The problem is that if we start now divide one parameter then everything must be divided and we get too many parameters.
Another way is to start with 8 parameters (like now), then take those which are more important for people and divide each of them separately. For example, 8 parameters for the ability to buy/sell for the best prices, and so on. It would be done in the next steps.

By the way abundance of pairs in one place in theory increase liquidity, which in turn increase competition in Order Books, which in turn gives you a more transparent BIDs/ASKs prices with the owest spreads.

adam1230

legendary

Activity: 1218

Merit: 1001

Current major exchanges are doing good but we need more liquidty at decentralized exchanges such as etherdelta and idex.
Centralized exchanges are going to have more hacking problems in near future.

yareklamator

member

Activity: 154

Merit: 10

Magic is real

As far as I can see from the survey, the answer about safety is the most popular one. I myself chose this item first. Quick withdrawal of money from the exchange and a large variety of coins - this is also very important. Now, Kucoin is rapidly gaining momentum and competing with large players.

Tony116

legendary

Activity: 2072

Merit: 1023

casinosblockchain.io

In my opinion it would be much better to divide "Ability to buy/sell at best prices" into 2 options: liquidity and the amount of trading cryptos. I just can't see the tie between "Ability to buy/sell at best prices" and "abundance of trading pairs" at all.

alt-fire

full member

Activity: 602

Merit: 104

I trade on bittrex and binnance,
but sometimes i iuse other exchanges to buy coins before they entering the big market

minerdiary

jr. member

Activity: 322

Merit: 2

high degree of security, solid reputation and positive clients feedbacks, the lowest fees on the market and TA (bittrex)

Topic: How you choose the exchange for trading? Vote! - page 5. (Read 773 times)