Trust is obviously very important and having real people with real names associated with the exchange is a big plus.
The trading screen/interface has to be carefully designed so as to maximize efficiency. Clean, simple uncluttered trading screen is always best.
Trading engine needs to be fast and responsive built with scalability in mind. Lag/slow loading pages is a BIG turn off.
Efficient and reliable customer support (very important that staff stick to their word).
And finally it's always a good idea to keep customers up to date with what's going within the company. Changes, plans, media. A blog or news page.
Topic: What are the top features/functionalities you look for in an exchange? (Read 3411 times)
July 25, 2014, 08:39:54 AM
July 25, 2014, 05:49:52 AM
I prefer easy of use, fast and usable interface.
I'll be honest. Only 2-3 exchanges on the whole market deliver it.
I'll be honest. Only 2-3 exchanges on the whole market deliver it.
July 23, 2014, 09:10:54 PM
Lending/borrowing feature.
July 23, 2014, 07:51:57 PM
Coinsetter is doing some research in regards to what bitcoiners are truly looking for what it comes to a BTC/fiat exchange. After all, we can sit around in a room and theorize all we want to--and can even look internally at what we want as bitcoiners ourselves--but at the end of the day it's you guys (and girls) that we want on our platform... Why not get the information we need straight, from the source?
Your responses are going to help guide the development of our platform moving forward, so please, feel free to speak your mind!
Your responses are going to help guide the development of our platform moving forward, so please, feel free to speak your mind!
Speed on inquiries such a verification time, withdrawals and deposits, and of course it must be trusted.
July 23, 2014, 03:49:00 PM
Lets not forget how the exchange treats its customers. I have had some bad experience with btc-e when it comes to support.
July 22, 2014, 06:12:37 PM
I think it all comes down to liquidity and depth of markets (which are to an extent driven by trust, quality of APIs and so on too). As an example, I spent $3k on bitcoin on one the other day and moved the market nearly 2% to fill my order. That is unsustainable for customers.
How do you solve this if you are a smaller exchange? I think you need a shared order book with other smaller exchanges; without this, I almost have to go to Bitstamp or Bitfinex every time.
Ease of moving money on and off also high on the list.
How do you solve this if you are a smaller exchange? I think you need a shared order book with other smaller exchanges; without this, I almost have to go to Bitstamp or Bitfinex every time.
Ease of moving money on and off also high on the list.
We actually aggregate Bitstamp's order book into our own internal order book. Essentially meaning we combine our own liquidity with Stamps. Not to mention our API offerings outnumber everyone in the industry (we have FIX 4.4 API, Web Sockets API, and RESTful/JSON API) [they're pretty fast as well, if I don't say so myself].
The problem with integrating Bitstamp's book is that it potentially just reinforces its status as top dog given they get the volume too. I think that partnerships with other smaller exchanges will ultimately be better for the bitcoin community as it will create more competition and reduce the risk of another Mt. Gox (by which I mean the death of a large, well known player linked to lots of people), something which could really, really set us back.
July 22, 2014, 05:34:38 PM
I think it all comes down to liquidity and depth of markets (which are to an extent driven by trust, quality of APIs and so on too). As an example, I spent $3k on bitcoin on one the other day and moved the market nearly 2% to fill my order. That is unsustainable for customers.
How do you solve this if you are a smaller exchange? I think you need a shared order book with other smaller exchanges; without this, I almost have to go to Bitstamp or Bitfinex every time.
Ease of moving money on and off also high on the list.
How do you solve this if you are a smaller exchange? I think you need a shared order book with other smaller exchanges; without this, I almost have to go to Bitstamp or Bitfinex every time.
Ease of moving money on and off also high on the list.
We actually aggregate Bitstamp's order book into our own internal order book. Essentially meaning we combine our own liquidity with Stamps. Not to mention our API offerings outnumber everyone in the industry (we have FIX 4.4 API, Web Sockets API, and RESTful/JSON API) [they're pretty fast as well, if I don't say so myself].
July 22, 2014, 03:28:12 PM
I think the ability to use leverage is by far the most important feature as it allows me to speculate and profit off of fear and greed
July 22, 2014, 03:11:53 PM
I think it all comes down to liquidity and depth of markets (which are to an extent driven by trust, quality of APIs and so on too). As an example, I spent $3k on bitcoin on one the other day and moved the market nearly 2% to fill my order. That is unsustainable for customers.
How do you solve this if you are a smaller exchange? I think you need a shared order book with other smaller exchanges; without this, I almost have to go to Bitstamp or Bitfinex every time.
Ease of moving money on and off also high on the list.
How do you solve this if you are a smaller exchange? I think you need a shared order book with other smaller exchanges; without this, I almost have to go to Bitstamp or Bitfinex every time.
Ease of moving money on and off also high on the list.
even Bitstamp and Bitfinex aren't incredibly liquid. the days of crazy thick Gox books are long gone, and to be honest, i'm beginning to think thin order books are just the new reality.
July 22, 2014, 01:01:16 AM
I think it all comes down to liquidity and depth of markets (which are to an extent driven by trust, quality of APIs and so on too). As an example, I spent $3k on bitcoin on one the other day and moved the market nearly 2% to fill my order. That is unsustainable for customers.
How do you solve this if you are a smaller exchange? I think you need a shared order book with other smaller exchanges; without this, I almost have to go to Bitstamp or Bitfinex every time.
Ease of moving money on and off also high on the list.
How do you solve this if you are a smaller exchange? I think you need a shared order book with other smaller exchanges; without this, I almost have to go to Bitstamp or Bitfinex every time.
Ease of moving money on and off also high on the list.
even Bitstamp and Bitfinex aren't incredibly liquid. the days of crazy thick Gox books are long gone, and to be honest, i'm beginning to think thin order books are just the new reality.
July 21, 2014, 07:20:59 PM
I think it all comes down to liquidity and depth of markets (which are to an extent driven by trust, quality of APIs and so on too). As an example, I spent $3k on bitcoin on one the other day and moved the market nearly 2% to fill my order. That is unsustainable for customers.
How do you solve this if you are a smaller exchange? I think you need a shared order book with other smaller exchanges; without this, I almost have to go to Bitstamp or Bitfinex every time.
Ease of moving money on and off also high on the list.
How do you solve this if you are a smaller exchange? I think you need a shared order book with other smaller exchanges; without this, I almost have to go to Bitstamp or Bitfinex every time.
Ease of moving money on and off also high on the list.
July 21, 2014, 02:39:46 AM
I want to see a smooth interface, with different order types (limit, market, stop, trailing stop, etc)
July 20, 2014, 01:10:13 AM
make your trading engine to be NOT like Bitstamp's. i don't know how the hell it was coded, but it sometimes matches orders incorrectly apparently, and lags horribly.
July 19, 2014, 05:36:22 PM
Honestly, I just want a non-laggy, professional trade engine. Stamp and Finex have so much lag it's embarrassing during high volume times. I really wish a large, liquid exchange could get it together.
July 19, 2014, 05:13:02 PM
It's nice to be able to stop buy/sell as well (at least if there is sufficient liquidity to justify using stops).
I'd agree, but the liquidity question is key, to be sure. If an exchange has, say, Huobi's level of liquidity, I would definitely use stops. But on Bitfinex, I never use them. Price alarms and discipline to get in/out.
July 19, 2014, 04:26:05 PM
More trade types/options. For example, the ability to easily both market order and sell order. It's nice to be able to stop buy/sell as well (at least if there is sufficient liquidity to justify using stops).
July 19, 2014, 10:56:19 AM
I would never trade at an exchange that charge a 0.50% fee 
When I was trading at Kraken I was paying 0.06%. Their fee structure means that you get lower fee if you trade more (over a 30 day period). I also like Krakens order types and user interface in general.
The most important things for me are:
- Trust, audits, and insurance
- Advanced order types
- Option to sell short
- An API that is easy to work with
- Volume (not fake)
- Uptime
When I was trading at Kraken I was paying 0.06%. Their fee structure means that you get lower fee if you trade more (over a 30 day period). I also like Krakens order types and user interface in general. The most important things for me are:
- Trust, audits, and insurance
- Advanced order types
- Option to sell short
- An API that is easy to work with
- Volume (not fake
)- Uptime
July 12, 2014, 07:20:57 PM
1) Trust.
2) Low fee.
2) Low fee.
1) How exactly do you define "trust"?
2) What qualifies as low fees for the community?
1. Identity of the owners being public. Enough accountability to know that if the coin disappear (hack/theft) the owner of the exchange will make sure every user will get their balance back.
2. Lower than the competitors. About 0.20% (with discounts at first the draw in users and a referral bonus)
We're actually the first bitcoin exchange to offer insurance on customer deposits (via Xapo). It's on our blog here: http://www.coinsetter.com/blog/2014/07/01/coinsetter-bitcoins-now-protected-insured-xapo-vault/
In terms of fees, we've been heavily discussing this around the office recently. It's part of the reason we're doing this research--we want to know what the community is comfortable with.
July 12, 2014, 03:36:38 PM
1) Trust.
2) Low fee.
2) Low fee.
1) How exactly do you define "trust"?
2) What qualifies as low fees for the community?
1. Identity of the owners being public. Enough accountability to know that if the coin disappear (hack/theft) the owner of the exchange will make sure every user will get their balance back.
2. Lower than the competitors. About 0.20% (with discounts at first the draw in users and a referral bonus)
July 12, 2014, 02:12:27 PM
1) Trust.
2) Low fee.
2) Low fee.
1) How exactly do you define "trust"?
2) What qualifies as low fees for the community?
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