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Topic: Ideal cryptocurrency exchange - how it should look like? Prometheus exchange. (Read 217 times)

copper member
Activity: 2114
Merit: 1794
Top Crypto Casino
I want to see the ROI for all my assets, not just history of transactions. Now I lack this option.

There currently so many portfolio managers that can do that. Why not go for them?
You not only get to know about your ROI in one exchange but in different exchanges.
All you have to do is to import your API keys and the rest will be visible in your portifolio app.

Am currently using;
- Bituniverse
- Delta App
hero member
Activity: 910
Merit: 505
in my opinion to compete with current giant u need an exchange which has following functionally.
1)decentralization- it is most necessary step an exchange should take to gain trust of traders as there are multiple hack seen and ddos attack on exchanges.
2)liquidity-liquidity should be there to attract traders and mainly attract big volume trader so that your exchange can be list in big sites i.e cmc
3)optimize-your platform should be optimized so that traders have good experience from different device and mainly focus on mobile app as world is changing and majority of traders prefer to access platform through phone excluding day trader. 
4)rewards-competition should be there to attract users or giveaways i.e focus on marketing as well.
legendary
Activity: 3514
Merit: 1963
Leading Crypto Sports Betting & Casino Platform
I want an exchange that only implements KYC/AML requirements if you deal with anything larger than say $10 000 a month. The average bitcoiner will not reach anywhere close to that amount and money laundering will only be very serious if it amounts to a lot more than that.

It should also be decentralized and very difficult to take down. About 90% of all coins must be in cold storage and they will have to implement a withdrawal delay of say 3 days for withdrawal of large amounts of coins.   Wink     Tongue   
member
Activity: 248
Merit: 12
Voronkov Ventures accelerator of pre-seed projects
For example sometimes I forget at which price I ve bought coins. I want to see at least at which price I ve bought coins. ROI should be shown for all purchases etc. I am writing all of these as list of requirements.

I think this can be visible in your transaction history of most accounts in most exchanges... You can be able to view the price you bought the coins at in Sats or Ethers... Maybe what I would suggest is that alongside the sats/ethers, you add the actual USD value so that a trader can be able to make a rational decision with the current market swings
I want to see the ROI for all my assets, not just history of transactions. Now I lack this option.
newbie
Activity: 2
Merit: 0
Sounds like your ready to open your own exchange !!

www.ripaex.io the vision of the ICO is to develop a open source exchange, to achieve a much lower entry price to open your own exchange !!

copper member
Activity: 2114
Merit: 1794
Top Crypto Casino
For example sometimes I forget at which price I ve bought coins. I want to see at least at which price I ve bought coins. ROI should be shown for all purchases etc. I am writing all of these as list of requirements.

I think this can be visible in your transaction history of most accounts in most exchanges... You can be able to view the price you bought the coins at in Sats or Ethers... Maybe what I would suggest is that alongside the sats/ethers, you add the actual USD value so that a trader can be able to make a rational decision with the current market swings
member
Activity: 248
Merit: 12
Voronkov Ventures accelerator of pre-seed projects
What do you think about decentralization?

What is more important support, or decentralisation and how does that fir with each other?
legendary
Activity: 2968
Merit: 3684
Join the world-leading crypto sportsbook NOW!
Finally and most importantly, a professional support team is what most of the exchanges lacks right now. Technical issues can arise at any time, that's understandable but taking multiple days to respond and fix when people need their money urgently is not something I would like to see in an exchange.

Most important for sure. I've said this every time someone asked about exchange features, and when it comes to 3rd-party services, customer support always stands out and is perhaps the one thing that keeps me coming back, whether it's a casino, exchange, whatever. Open source software even I only use something where there's good community support.

People talk about security a lot and of course that's probably most critical but if you're a typical user like me, there's really not much we can do to find out how secure a platform really is, is there? Just don't store funds there and you de-risk every transaction.

Fees? Costs? Delays? Hassle? I'm willing to put up with a lot of that if I know I can count on prompt and useful support from an actual support service staff. Exchanges want to take on as many users as they can but often severely underestimate firstly the technical knowledge of mainstream users and secondly, their own capacity to process and solve support requests.

An exchange is ultimately in the service industry - keep customers satisfied and engaged, and the rest are just details.
legendary
Activity: 2646
Merit: 3911
Informing customers that it is always right is the key to gaining the attention of users and not treating them as mere consumers.

The trust stems from good communication with users and solving their problems and thus providing safety for them.
Fees and other matters are not as important as communicating with customers and providing security in conducting transactions.

Our investment fund wants to develop our own cryptocurrencies exchange.

Development needs to solve the problems you have encountered and not listen to the assessments found here.
member
Activity: 248
Merit: 12
Voronkov Ventures accelerator of pre-seed projects
Most of the people are not asking for much to be honest. As far as I'm concerned, an exchange should have a very good UX/UI, a chatbox as long as It's moderated, mandatory 2FA, most of the funds stored in cold storage to avoid any "we got hacked and funds are lost" scenarios, a phone app, a very good API to let users automate stuff If needed.

Finally and most importantly, a professional support team is what most of the exchanges lacks right now. Technical issues can arise at any time, that's understandable but taking multiple days to respond and fix when people need their money urgently is not something I would like to see in an exchange.


That are quite reasonable requirements.
In terms of support I am curious about technical solutions, which can combine both decentralization and good support. Do you think that it is feasible?
Is decentralization important?
hero member
Activity: 2352
Merit: 905
Metawin.com - Truly the best casino ever
Hello! There are hundreds, if not thousands of cryptocurrencies exchanges.
However, I still can t find a crypto exchange, which fits to all my needs.
What do you need from cryptocurrencies exchange? Can you post it here?

I will post my thoughts below. Our investment fund wants to develop our own cryptocurrencies exchange.

User above me mentioned correctly, people aren't asking much. Personally for me speed and security is N1, it's a shame when exchanger claims they got hacked or etc. Another thing would be live support like amazon has and in amazon I mean how amazingly they work in support. If it won't be live, at least questions has to be answered and not ignored. Oh, also they mustn't stuck my transactions for a long time because of it's high value.
I don't know how serious people are around you but if you want to be better than other top exchangers it will be very hard, be ready for it. Wish luck... Would love to read what you lack from exchangers if they aren't similar of mine.
staff
Activity: 3500
Merit: 6152
Most of the people are not asking for much to be honest. As far as I'm concerned, an exchange should have a very good UX/UI, a chatbox as long as It's moderated, mandatory 2FA, most of the funds stored in cold storage to avoid any "we got hacked and funds are lost" scenarios, a phone app, a very good API to let users automate stuff If needed.

Finally and most importantly, a professional support team is what most of the exchanges lacks right now. Technical issues can arise at any time, that's understandable but taking multiple days to respond and fix when people need their money urgently is not something I would like to see in an exchange.
member
Activity: 248
Merit: 12
Voronkov Ventures accelerator of pre-seed projects
Hello! There are hundreds, if not thousands of cryptocurrencies exchanges.
However, I still can t find a crypto exchange, which fits to all my needs.
What do you need from cryptocurrencies exchange? Can you post it here?

I will post my thoughts below. Our investment fund wants to develop our own cryptocurrencies exchange.


Goal

To make an exchange, which will be the most friendly for all types of users - both professional and non-professional. Exchange with easy access. Stable, non-compromised by central administration.

Decentralization


- Decentralized exchange

- Decentralized code storage

- Decentralized team. Part of team is anonymous, which can support the code always

- Decentralized, or partially centralized trade  

- Decentralization of accounts creation and management

- Login decentralization

- Multi-currency, multi-signature decentralized wallets

- Multiple languages support

- Decentralized Exchange management (DAO, DAICO)


KYC


- Traders, who passed KYC. I honestly don t know why KYC is needed, but if that will be an issue for growth, some legal hacking can be done here and part can have KYC, but probably not at the beginning

- Traders without KYC

- Anonoymous deposit and withdrawal


Legal

Registered in a country, which is independent from SEC-US/EU and other regulatory systems. Either non-recognized country like Liberland and Norther Cyprus, or exchange without any legal system at all. No regulation, decentralization and cryptoanarchy will make us different.

ICO/STO

You can easily participate in any ICO/STO and get tokens to your exchange account
From exchange you can participate in investors pool and get special discounts for ICOs/STOs

Forks
You will never miss your tokens/coins because of the fork. You will receive them like if you had cold wallet

Trading pairs


- Multiple trading pairs
If your token has substantial turnover, we can add more trading pairs for this token with other coins (trading pairs matrix)
Trader can select trading pairs with conversion between them directly. One can pay for extra trading pairs. This can be an additional income for the exchange.


Other exchanges


- Arbitrage

- Integration with other exchanges (aggregator window)

- We actually do listing of other exchanges tokens (when they allow it). You want to trade binance coin to kucoin? No problem!

Community and Support


- Chat Box

- Moderated

- Support team

Risks reduction


- Discussion/comments board with rating system

- Crowdsourced rating system, which can help to distinguish scam from non scam. Something, which one can consider as scam is not deleted, but is moved to another section (instance, tier)

- Several tiers or instances - according to risk (evaluated by turnover size etc.)

- Search system

- Catalogue by area of the token/company

- Own evaluation rating system, which is available with paid subscription for customers/users of exchange (several levels of evaluation). So customers can access to professional analytics on each traded pair.

UNIQUE MONETIZATION MODEL


- Comission-free (0  % comision)

- Free listing (0 payment for listing). Small and seed stage companies can be listed easily.

- % as Logarithm from turnover paid for tokens to stay, tokens with zero, or small turnover pay basically nothing, while tokens with biggest turnover pay a lot, but still that is super profitable for them. If token owners do not pay, then comission can be used.

- Our own tokens are used as trading pair.

- Three types of tokens: utility (stable), security, promo

- Integration with logistics. Tokenized goods can be ordered for delivery right from exchange.

- Integration with online stores. Any merchant can sell/buy goods for his own tokens, which price is defined by the exchange (and shown both in his tokens and fiat currencies on marketplace)


Technology

- Gates with different payments systems for fastest in/out of the fiat, or any other currencies in the system/from the system

- API for bots

- Different parameters for listed projects filtering

Easy2Use

- No more “Select fire hydrant” or “choose all the buses” captcha and login. System will be as easy to use as Binance.

Additional features


- 20 second trading interval views

- Copy strategy of most successful traders (if they allow it?)

- SMS, Phone call and other types of warning for market movements

- Forum, where users can provide their feedback

- Possibility to make bid/ask, depending on these parameters (if growth accelerates for example, all slows down)


Additional analysis parameters


- Speed of price growth

- Acceleration of price growth

- ROI for each your investment in portfolio. For each asset you can see the average price, for which it was purchased. So, you can setup profit and sell/buy will be set automatically




Security

- Two factor authentification

- SMS authentification

- Developers/Founders have no access to trading accounts, accounts are managed by owners (cold Storage wallets)


Actions, for which two-factor authentification is enabled

- Login

- Trading

- Withdraw

Limits, which you setup yourself for certain period


- Limits for withdrawal
 
- Limits for trading

- Limits for losses
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