what are the things to consider when looking for a good exchange?

bitbunnny

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I myself see larger markets, especially potential coin coins,that way we will get a fair exchange,in the beginning, it can be noted that anything that can generate an exchange can produce good quality,

Everyone has its own reasons and high trading volume, large market coverage and similar often atrract users to exchanges, especialy new emerging ones but from my point of view security is still the most important thing. Because you will not have anything of all services provided if you are not safe and secured and if exchange doesn't protect users properly.

Lapatai

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Quote from: Insufficient on November 04, 2018, 12:36:06 PM

I am a trader or at least that is how i see myself. I trade on binance, okex, idex, mercatox, bittrex, houbi and some other exchange. Lately i notice a lot of new crypto exchange popping here and there. And as much as i know and safe guard my password and secure my account with 2fa, I am still curious of the factors other traders consider when they are signing up on a new exchange. Would love to know some of your key factors so i might look into those too.

Personally, I look for an exchange which has:
1. Liquidity
2. Tech support 24/7
3. Mobile App
4. An interface to my taste
5. The one which supports a lot of AltCoins

SquallLeonhart

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If I'm choosing an exchange , I'd usually go for an exchange that us popular and has lots of users and all that.
I don't go for all these small exchanges that are still new, no matter how secured they may claim to be ,I am not buying that.

Why I said this is because you can't really tell how secured and exchange is… they are the ones in charge of the safety of your account and you can't really how they are handling the money that is in their hands...no matter how secured they might appear to be, it's likely that they might not be...so best to go for a site with a good reputation...cause that way you're sure that if any problem occurs, you're likely going to have your problems sorted out… that's my piece of suggestion for newbies.

Mahanton

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Quote from: bitbunnny on August 05, 2019, 07:03:02 AM

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I myself see larger markets, especially potential coin coins,that way we will get a fair exchange,in the beginning, it can be noted that anything that can generate an exchange can produce good quality,

Everyone has its own reasons and high trading volume, large market coverage and similar often atrract users to exchanges, especialy new emerging ones but from my point of view security is still the most important thing. Because you will not have anything of all services provided if you are not safe and secured and if exchange doesn't protect users properly.

Security does always matter but there no such thing on having a safe exchange.Take a look example with Binance yet this is one of the most trusted
exchange but still it do have issues when it comes to security.If we do look and consider things up when it comes to exchange then rankings,reputation and popularity would matter.

Moshaid

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The first thing I check is the review and the user base of the exchange, most exchange out there involves in bot trading which am not a fan of and because of this I make sure I read users review about the exchange. Apart from that 100% security can't be guaranteed on any exchange so because of this, I make sure i don't keep any of my funds on any exchange but I make sure I encrypt my password security level to the highest level. To include this one most consider the exchange regulations and mostly the withdrawal fee.

alexyong342

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When looking for a good exchange, the first thing to consider is security. The security should be impenetrable, and exchange should respond fast, in case of any attacks.

Find out, if the broker is compliant with the local laws or not. For instance, when I first traded through BeaXchange, I was relieved to know that they have registered with the European Union.

Check if the exchange is cross-platform.

At last, consider reviewing the transparency and trading fee of the exchange.

In case, if you are stuck somewhere, you can join this group, https://t.me/beaxchange for more information. Hope it helps!

bearexin

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The level of security for any exchange you want to chose is very very important. It’s best that you check how secured they are keeping their site before you start deciding for other things. They need to have features like the 2fa and others, and this is one of the reasons why I like Coinbase, it’s very secured…

Just the regulation and not available to every location. You can also check their history to see what kind of problems they have had in future and all that, it will help you know and also check how they have been trying to cope with and also solve that problem and prevent it from happening again.

Kayum10029

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A good exchangers should have trusted website, smoothly transmission and transportation , smoothy transactions fees, withdrawals and deposits low fees and easy to transfer rate and motions.

KEPLER99

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Quote from: Insufficient on November 04, 2018, 12:36:06 PM

I am a trader or at least that is how i see myself. I trade on binance, okex, idex, mercatox, bittrex, houbi and some other exchange. Lately i notice a lot of new crypto exchange popping here and there. And as much as i know and safe guard my password and secure my account with 2fa, I am still curious of the factors other traders consider when they are signing up on a new exchange. Would love to know some of your key factors so i might look into those too.

Security is what most people are looking out for when they are signing up for a new exchange… But sometimes you also have to play your own role in ensuring the safety of your account on any platform you're making use of. Just like some people would tell you, never store your money on an exchange except the amount you're trading with, apart from that, nothing else should be stored on an exchange, cause they are online and can be hacked at anytime and stolen. So you playing your own part is also very important to ensure that you're safe. And like you have said, having the two factor authentication is very important… but I don't know secured it can be though..

Pleasuremodel

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Quote from: JohnBitCo on July 07, 2019, 07:50:29 AM

Quote from: diazepam666 on June 17, 2019, 02:43:15 PM

While you're looking for good exchanges you need to do some research. In the basis of volume, circulation, security, wide usage and liquidity. Nowadays exchanges are getting frame because of their community fame.
If the have a strong community, they are ready to put their money in the the new IEO whichever coming from that exchanges.
Best exchanges as my knowledge,
Binance
Bitrex
Bitmax
Etherdelta
Cryptopia

I think you are not updated on exchanges. Cryptopia is already closed and they were hacked. People has lost a lot of funds from this exchange. Etherdelta is another shit exchange and I will not recommend it at all.
Even the best exchange Binance was hacked this year, so we should not blindly trust any exchange.

probably because the exchange is for trade and not for the exchange and storage of money

JohnBitCo

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Quote from: diazepam666 on June 17, 2019, 02:43:15 PM

While you're looking for good exchanges you need to do some research. In the basis of volume, circulation, security, wide usage and liquidity. Nowadays exchanges are getting frame because of their community fame.
If the have a strong community, they are ready to put their money in the the new IEO whichever coming from that exchanges.
Best exchanges as my knowledge,
Binance
Bitrex
Bitmax
Etherdelta
Cryptopia

I think you are not updated on exchanges. Cryptopia is already closed and they were hacked. People has lost a lot of funds from this exchange. Etherdelta is another shit exchange and I will not recommend it at all.
Even the best exchange Binance was hacked this year, so we should not blindly trust any exchange.

R.A.Y

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Quote from: gamechangers on November 08, 2018, 08:28:33 AM

Firstly, note that it is not advisable to leave your cryptocurrency on any exchanges for long regardless of the perceived level of security. They may be hacked. What I do mainly is to check the review of the exchange from users. I get a lot of feedbacks doing this. All I need to know about security, customer care etc will be revealed.

we can see the scale of trading on new exchanges and can make a comparison with the old exchanges
if it is profitable in the trade by conducting arbitration it can be more promising if you succeed in this field.

boyptc

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Quote from: bozo333 on June 29, 2019, 02:47:43 PM

Quote from: boyptc on June 28, 2019, 06:58:37 AM

Quote from: ?? on ??

Does anyone know how much is the bonus if I buy XDMC on OOOBTC??

You should ask this kind of question to their main ann thread.

--> https://bitcointalksearch.org/topic/annpre-ico-mpcx-platform-the-future-of-digital-crypto-wealth-management-3443279

Do not write them on ann thread bro. Mostly people never give the reply for the investors or general participants there on the forum. Kindly do the PM or send the notification via Telegram or anything which work well and you will be able to find their availability there...

Is that so? there are times that the dev itself replies to the queries/questions of people who are interested with their service/coins.

Yeah much better to contact them directly to their support or authentic telegram channel.

bozo333

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Quote from: boyptc on June 28, 2019, 06:58:37 AM

Quote from: ?? on ??

Does anyone know how much is the bonus if I buy XDMC on OOOBTC??

You should ask this kind of question to their main ann thread.

--> https://bitcointalksearch.org/topic/annpre-ico-mpcx-platform-the-future-of-digital-crypto-wealth-management-3443279

Do not write them on ann thread bro. Mostly people never give the reply for the investors or general participants there on the forum. Kindly do the PM or send the notification via Telegram or anything which work well and you will be able to find their availability there...

boyptc

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Activity: 3024

Merit: 680

★Bitvest.io★ Play Plinko or Invest!

Quote from: ?? on ??

Does anyone know how much is the bonus if I buy XDMC on OOOBTC??

You should ask this kind of question to their main ann thread.

--> https://bitcointalksearch.org/topic/annpre-ico-mpcx-platform-the-future-of-digital-crypto-wealth-management-3443279

boyptc

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Quote from: pamchik on June 23, 2019, 07:54:08 AM

Popularity. You shouldn't trust services nobody heard of.

For a newbie, I guess this is the best factor on how they should look on exchanges. A popular exchange means that many traders are using it and trusting it at the same time.

But they should also be cautious that some popular exchanges have some good and bad reviews.

barbara44

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Quote from: Insufficient on November 04, 2018, 12:36:06 PM

I am a trader or at least that is how i see myself. I trade on binance, okex, idex, mercatox, bittrex, houbi and some other exchange. Lately i notice a lot of new crypto exchange popping here and there. And as much as i know and safe guard my password and secure my account with 2fa, I am still curious of the factors other traders consider when they are signing up on a new exchange. Would love to know some of your key factors so i might look into those too.

That’s how you will be looking for new exchange and end up signing up for the one that will scam you of your hard earned money. There are lots of new exchanges popping up like every week and majority of them are not worth going for, because their services are very bad and some are scammers. But if you need a new exchange to try, there is this one that I saw and they look very good, even their website looks good on mobile, name of their exchange is Monfex. The crypto exchanges you have mentioned are already the best, and there is no need to be looking for another one when you have the best at hand.

heaventreedesign

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Quote from: Bitcoin_Arena on November 05, 2018, 12:49:31 AM

Personally I look at
1. Security : The most important of all since we are dealing with money. Security has to be tight and exchange has to have a swift response in case of any attacks or attempts to hack

2. Popularity: Much more popular exchanges are my preference since they have a large community around them. The larger the community, the easier it is to spot scam... Less popular exchanges can easily scam and exit with your money.

3. Team and Support: is the team transparent? Is the support swift and helpful? You don't wanna get stuck with some issue and there is no one to help you urgently

4: Trading Fees and Withdrawal Charges: I prefer exchange with less trading fees and withdraw charges plus incentives like Binance has with BNB and Kucoin has with Kucoin shares.

5: Third-party Mobile apps: These make trading easier on the go. Some exchanges have lagging websites but the mobile apps are smooth to trade with. i have traded so far with the Kucoin, Huobi, Binance and Okex apps. Very smooth and nice experience

https://www.heaventreedesign.ie/

pamchik

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Popularity. You shouldn't trust services nobody heard of.

Zemomtum

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First thing first is the review of the exchange by users. What is their reputation and for how long as they been in existence? You then look at the type of security provided in conjunction with the user interface and how friendly it is. Lastly, what is the volume of trade in the exchange as reported. Is it real or are they faking it? You can get this by user's review on the exchange, Googling will sure assist you a lot.

Topic: what are the things to consider when looking for a good exchange? (Read 1670 times)