What do you need in A Cryptocurrency Exchange ?!

stitch101

newbie

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Quote from: mikyadel on February 21, 2019, 08:51:14 AM

Hey everyone,
for all crypto traders , what do you think we need most in a crypto exchange ! right now there are thousands of them but how can you choose which one you trade on ? and what existing exchanges lack of ?

As a newbie, I can't avoid being discombobulated about exchanges but I know that you need to consider a lot of things in order to find a good exchange. As of now I still searching an exchange but i'm lucky because one of my friend suggested darb exchange. I'm not actually familiar on this exchange that's why I decided to make some research, is there anyone had experience with it? Well based on some details about it, it is a good trading platform that helps newbies to trade by providing a demo account for them. In addition to that, they also has fast transaction in transferring funds and assets which is one of the criteria that i'm looking for. One of the best thing about it is that it can also be a crypto wallet that has high security level where we can store our assets and funds. I'm pretty interested about it but as of now it is better to look for other recommendation and some information about different exchanges.

Bijikopi

member

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the latest things have been added such as IEO in the popular exchange market. But because the demand is very large, I'm sure the system will be very heavy. in the future I hope that exchanges can facilitate up to 2-5 IEOs that run at once so that many new coins can be mediated well by the participants.

GregH37

legendary

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Quote from: wayancrypto on March 31, 2019, 09:18:03 PM

I want to have crypto exchange that can guarantee for the security of my money in the platform by provide insurance. And other thing is that exchange has low spread and high trading volume so all transaction will be very fast. Binance and Huobi is one of the good exchange that has high security level.

Well, I doubt if any exchange will want to provide insurance of any sort to their traders because when it comes to insurance, insurance companies operates under government policy and because of the little support from government, no insurance company will accept to get involved in anything that has to do with crypto currency and also because it will be lot risky for them to do so.

Moreover, this will also automatically add additional cost to the users because every penny they incurred externally on behalf of the user aside the maintenance of their platform will be passed directly to the platform users which will make the charges of exchanging n the platform become high.

BigTeeths

full member

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Quote from: Crypto Girl on February 21, 2019, 10:39:55 AM

No need to look further, we have big exchanges with high liquidity so no need to look for more. I personally use binance, bittrex and hitbtc.

I list some though these are common things that we should look up to.

• Privacy
• Security
• Liquidity
• 24/7 support
• Instant deposit and withdrawal

I do want those too and I highly recommend others like kucoin and bitfinex as well. But I do really want to see an exchange to offer is they will pay the losses of users when there's a hack that stole our assets. That would be the perfect exchange but I'm willing to accept if they can only pay back at least 70%-80% of our losses.

wayancrypto

member

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I want to have crypto exchange that can guarantee for the security of my money in the platform by provide insurance. And other thing is that exchange has low spread and high trading volume so all transaction will be very fast. Binance and Huobi is one of the good exchange that has high security level.

Malsetid

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Quote from: AngellSky on March 17, 2019, 09:59:05 AM

Quote from: taktik on March 16, 2019, 04:57:44 PM

Quote from: michael23 on March 16, 2019, 01:50:20 PM

The most important thing you need to pay attention to when choosing an exchange for trading is security and interface. It is also important to determine the amount of Commission that is charged for transactions. And of course, support for developers and quick resolution of problems, if they arise. This is what is most important to me in any exchange.

Actually, I have not yet met such a trading platform that would take higher interest rates from participants or raise prices for transactions. In any case, most traders have large volumes of trades, at least more than $ 100 or $ 200, and therefore prices per transaction suit everyone. I am more interested in questions on the time of transfer of funds from the wallet to the balance of the exchange or withdrawal of funds from the exchange.

Of course there are some exchanges that still have not corrected the capabilities of their users. As an example, you can bring Hot Bit, which is still raw, because there are difficulties in accessing your account, as well as in crediting funds to the balance.

Interface can take a backseat for me. Security is always the top criteria. And the accessibility and transaction spees. You can always get used to an exchange's interface even if it looks complicated, simply by using it over and over again. Now 2fa and having your own private keys are a big plus factor though i think most exchanges already have them implemented.

sandra_x

member

Activity: 574

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Quote from: mikyadel on February 21, 2019, 08:51:14 AM

Hey everyone,
for all crypto traders , what do you think we need most in a crypto exchange ! right now there are thousands of them but how can you choose which one you trade on ? and what existing exchanges lack of ?

Top on the list is exchange security and the integrity of exchange. You will want your tokens on the exchange safe from the reach of hackers.Also you will want you tokens deposited to be credited accordingly. these in place,you can then start consider the trade volume,ease of use,lists several tokens etc

Suslura

member

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Quote from: crypteris on March 23, 2019, 04:36:58 PM

In crypto exchange, I prioritize security, low fees, good customer support, margin trading availability and easiness of use. Based on these criteria, I decided that cex is the most suitable exchange for crypto trading. Currently, margin trading is disabled because of their new broker launch ( https://cexbro.com/ ). Therefore, I am waiting for its opening. Furthermore, they promise to provide benefits for registration and new advanced features. I think it will be something like Coinbase Pro, which is mainly focused on experienced traders. Anyway, we will see soon.

in any case, if I touch the exchange, it makes it imperative to provide passport data without thoroughly and without any bonus conditions, then I try to bypass this resource side, because I do not see any output features for myself. Especially if you consider that I can use this trading platform only a few times.

crypteris

newbie

Activity: 159

Merit: 0

In crypto exchange, I prioritize security, low fees, good customer support, margin trading availability and easiness of use. Based on these criteria, I decided that cex is the most suitable exchange for crypto trading. Currently, margin trading is disabled because of their new broker launch ( https://cexbro.com/ ). Therefore, I am waiting for its opening. Furthermore, they promise to provide benefits for registration and new advanced features. I think it will be something like Coinbase Pro, which is mainly focused on experienced traders. Anyway, we will see soon.

AngellSky

member

Activity: 462

Merit: 10

Quote from: taktik on March 16, 2019, 04:57:44 PM

Quote from: michael23 on March 16, 2019, 01:50:20 PM

The most important thing you need to pay attention to when choosing an exchange for trading is security and interface. It is also important to determine the amount of Commission that is charged for transactions. And of course, support for developers and quick resolution of problems, if they arise. This is what is most important to me in any exchange.

Actually, I have not yet met such a trading platform that would take higher interest rates from participants or raise prices for transactions. In any case, most traders have large volumes of trades, at least more than $ 100 or $ 200, and therefore prices per transaction suit everyone. I am more interested in questions on the time of transfer of funds from the wallet to the balance of the exchange or withdrawal of funds from the exchange.

Of course there are some exchanges that still have not corrected the capabilities of their users. As an example, you can bring Hot Bit, which is still raw, because there are difficulties in accessing your account, as well as in crediting funds to the balance.

taktik

full member

Activity: 504

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Quote from: michael23 on March 16, 2019, 01:50:20 PM

The most important thing you need to pay attention to when choosing an exchange for trading is security and interface. It is also important to determine the amount of Commission that is charged for transactions. And of course, support for developers and quick resolution of problems, if they arise. This is what is most important to me in any exchange.

Actually, I have not yet met such a trading platform that would take higher interest rates from participants or raise prices for transactions. In any case, most traders have large volumes of trades, at least more than $ 100 or $ 200, and therefore prices per transaction suit everyone. I am more interested in questions on the time of transfer of funds from the wallet to the balance of the exchange or withdrawal of funds from the exchange.

michael23

full member

Activity: 560

Merit: 100

The most important thing you need to pay attention to when choosing an exchange for trading is security and interface. It is also important to determine the amount of Commission that is charged for transactions. And of course, support for developers and quick resolution of problems, if they arise. This is what is most important to me in any exchange.

CoinCollect

sr. member

Activity: 770

Merit: 250

There are not enough exchanges with a user-friendly interface and a convenient mobile application. I think that not everyone is comfortable to spend a lot of time at the computer, but everyone uses their smartphones. So it would be very convenient to have a exchange with a good mobile app to be able to trade anywhere.

el kaka22

legendary

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www.Crypto.Games: Multiple coins, multiple games

I guess cheap withdrawal fees and trading fees are becoming more and more of a big request. Unfortunately most of the exchanges require a ton of money for the trading and withdrawal fees, trading fee is getting kind of small and small every time a new place opens up but they lack volume however withdrawal fee is always an issue and unless we have ourselves a place that uses lightning network than we need to pay an arm and a leg for withdrawing small amounts.

Think about it can you just send 5 bucks in some coin form to an exchange and make couple trades and withdraw it? It will eat up most of your money if not all of it in many places, so we need a place with high volume, a lot of coins , great security history plus very low withdrawal fees almost none. If that happens I am switching to them.

thinkright

copper member

Activity: 280

Merit: 1

It varies depending on the kind of trader you are. Considering an active trader, his/her would be more. Most important the exhchage's reputation, volime, list of assets and pairs, transaction fees, customer suport etc.

BitcoinTurk

hero member

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Quote from: mikyadel on February 21, 2019, 08:51:14 AM

Hey everyone,
for all crypto traders , what do you think we need most in a crypto exchange ! right now there are thousands of them but how can you choose which one you trade on ? and what existing exchanges lack of ?

In recent years, we are witnessing that many new market services are entering the market, which can be considered as a positive development for investors. Although it is more beneficial for the investor to serve in the market where there are many services than in monopoly markets, we can see from time to time that these services are used for malicious purposes. Although there are new and very successful services in the market, the number of services has increased so much that the investor is having difficulties in choosing the best among these options. On the other hand, in order to sort out a few criteria that I have given when I prefer my service;

- High throughput
- Low commission
- Fast processing
- High Security Prevention
- Market confidence in that service
- 7/24 fast support

and more.

CryptoInsights

member

Activity: 141

Merit: 19

Quote from: ongkok87 on February 21, 2019, 11:59:17 AM

Quote from: mikyadel on February 21, 2019, 11:43:45 AM

Quote from: Crypto Girl on February 21, 2019, 10:39:55 AM

No need to look further, we have big exchanges with high liquidity so no need to look for more. I personally use binance, bittrex and hitbtc.

I list some though these are common things that we should look up to.

• Privacy
• Security
• Liquidity
• 24/7 support
• Instant deposit and withdrawal

How can you measure this criteria , how can you be sure of their privacy and their security as all exchanges promise that then they get hacked !!
Also,what about other features you are looking for that if implemented you would consider using in a new exchange ?

but for all the exchanges it is very strong to hack into security. but it can be hacked and it depends on the person using it if I think. because all of that can be cracked depending on how we use it ourselves

I think to avoid hacking we need to store max of our funds in hardware wallets and trade through non-custodial exchanges.

whyrqa-1

member

Activity: 350

Merit: 10

Quote from: boris singer on March 14, 2019, 08:52:07 PM

exchange markets with their own coin capitalization as conversion strength (such as bnb) can add quality to accumulatively increase trade discount incentives. the addition of the stop loss feature is also very important, and it is better if many ico have collaborated with the market so that investors have secured guarantees from third-party providers. it would be nice if many markets apply things like this.

Some ico companies today, when mentioning various information about the support of a new project by many companies, indicate some trading platforms that to one degree or another will support the tokens of this project and will actually contribute to the listing. But there are very few such projects and investors do not have full information from ici companies in order to be able to trust more.

boris singer

sr. member

Activity: 882

Merit: 268

exchange markets with their own coin capitalization as conversion strength (such as bnb) can add quality to accumulatively increase trade discount incentives. the addition of the stop loss feature is also very important, and it is better if many ico have collaborated with the market so that investors have secured guarantees from third-party providers. it would be nice if many markets apply things like this.

DeadCoin

sr. member

Activity: 1246

Merit: 261

★ Investor | Trader | Promoter

Quote from: Akagum on March 14, 2019, 12:08:24 PM

I look out for cryptocurrency exchanges that has a very user friendly interface .
2. It must have that function that tells one the total amount of coins you want to buy once you input the amount of coins inside the box provided.
Binance has this function even huobi and stex exchange.
I hated cryptobia exchange then when I joined cryptocurrency.... trading on the exchange is a Herculean task.

I am sure the best exchanges do have features more advanced then you ask.These are common feature a new exchange would try to have. I do expect that volume should be high to the respective coin i trade with. This would support me for day trading to get in and out often to see more profits.

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