What do you need in A Cryptocurrency Exchange ?! - page 3.

gilangIDR

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Quote from: mikyadel on February 21, 2019, 07:51:14 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 ?

What I have noticed the most is the security feature, because when we want to trade comfortably, security is something that must be taken into account. If an exchange does not have a good level of security, it will make us problematic in the assets we have.

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Quote from: dmamigo on February 27, 2019, 03:00:24 PM

Quote from: zhekinsp on February 27, 2019, 12:27:38 PM

What I hate to experience on a trading exchange is getting approval of our withdrawal,so I definitely need instant withdrawal in an exchange upto certain limit.

With P2P system on some exchanges, I now enjoy it a lot. Instant withdrawal issue now matters quite less. High fees also bothers me a lot, for a very few amount, I had to pay a loads of fees.

In centralized exhchange which is also a big issue,but normally I trade decent amount so there is no need of withdrawal fee.

Noa_Amable

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Quote from: rodel caling on February 21, 2019, 10:19:16 AM

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Quote from: Crypto Girl on February 21, 2019, 09:39:55 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

Yeah binance bittrex hitbtc that's (3) three exchange is the most popular as of now and I included poloniex is also one of the most oldest trusted exchange with low transaction fees with strong private keys for the security of the users i am not promoting poloniex or any exchange but base on my own experience i give my own best for those people want to know is the best all about in trading.

I guess Hitbtc used to have quite high fees,though not sure about current situation.
I suppose that there are more features which could be added to a Great exchange,like Forex and CFD brokers have.

dmamigo

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Quote from: zhekinsp on February 27, 2019, 12:27:38 PM

What I hate to experience on a trading exchange is getting approval of our withdrawal,so I definitely need instant withdrawal in an exchange upto certain limit.

With P2P system on some exchanges, I now enjoy it a lot. Instant withdrawal issue now matters quite less. High fees also bothers me a lot, for a very few amount, I had to pay a loads of fees.

zhekinsp

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Quote from: Fredomago on February 27, 2019, 01:08:00 PM

Quote from: zhekinsp on February 27, 2019, 12:27:38 PM

What I hate to experience on a trading exchange is getting approval of our withdrawal,so I definitely need instant withdrawal in an exchange upto certain limit.

With centralized exchange, you need to process KYC if you will going to exceed with their allocated amount for withdrawal, it's been a rule to avoid
money laundering and exchange needs to comply with that, if you don't want to do the process alternative like DEX can be used for making huge
trades without the interfering of any approvals or delayed.

But for certain limit like one bitcoin per day will need no approval just pay the fee and initiate the transaction will make the trading platforms as much better place.

Fredomago

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Quote from: zhekinsp on February 27, 2019, 12:27:38 PM

What I hate to experience on a trading exchange is getting approval of our withdrawal,so I definitely need instant withdrawal in an exchange upto certain limit.

With centralized exchange, you need to process KYC if you will going to exceed with their allocated amount for withdrawal, it's been a rule to avoid
money laundering and exchange needs to comply with that, if you don't want to do the process alternative like DEX can be used for making huge
trades without the interfering of any approvals or delayed.

zhekinsp

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What I hate to experience on a trading exchange is getting approval of our withdrawal,so I definitely need instant withdrawal in an exchange upto certain limit.

jvdp

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Quote from: Mr.grin on February 27, 2019, 01:37:48 AM

well, security is the most important thing from an exchanger. we know there are so many types of exchangers nowadays, but some don't have a pretty good security system. besides, we also need real trading activities, this makes an exchanger avoid the fake volume.

I saw many promising exchanges in current market If you have any clarification you may create a thread surely everyone resolve your issues. But most of the exchanges are huge transaction fees in withdrawal so peoples are not like the some exchanges so we must choose our desire exchanges in crypto trading.

radjie

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Quote from: wuvdoll on February 27, 2019, 02:56:15 AM

Quote from: mikyadel on February 21, 2019, 07:51:14 AM

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 ?

I am always having secondary thoughts about sudden change of terms so that I might need to clear KYC with my exchange. I mean I just want assurance that I never need to have any KYC clearance as long as I am dealing only with cryptos and not fiats. I'm not sure that any exchange is providing such guarantee that they will never look for KYC when we will trade only cryptos without touching fiats parts.

Other than this I am always want stable and highly secured exchanges from hacking attempts but that will not be possible for any business because they are also not aware of how strong the hackers will come against them.

almost all exchanges of course need kyc for its users, this is sometimes an obstacle for some traders who have just visited the crypto exchange for the first time because they need confirmation that must be approved. however, the exchange that requires Kyc certainly has security and comfort for all its users.

maybe the most important thing that all exchanges must have is that it can make it easier for users to make deposits and withdrawals instantly and ease the burden of costs

conected

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Quote from: Mr.grin on February 27, 2019, 01:37:48 AM

well, security is the most important thing from an exchanger. we know there are so many types of exchangers nowadays, but some don't have a pretty good security system. besides, we also need real trading activities, this makes an exchanger avoid the fake volume.

- Security and safety for users is really the first factor we need in a good exchange but it is still not enough to convince us to care and participate regularly in an exchange, besides safety and security, support from the exchange management team, analytical tools and trading volumes on exchanges is also a very important part. Because if exchanges are safe but their support is too poor, our property has problems, we also need to wait a long time to be resolved, miss a lot of opportunities, and good tools and high trading volumes is an easy to understand, without these things, we can hardly make money

Zalaster

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Quote from: icecube45 on February 24, 2019, 07:06:42 AM

I think what is needed for crypto exchanges is security. Because security is the main thing that is needed, it is useful to keep assets from being lost and avoid hacking. In addition, 24/7 support and privacy are also the most needed things. 24/7 support helps if there are problems in trade and privacy I'm sure many people choose to keep their privacy safer. Besides that, it depends on each person who uses it.

You always risky if you keeping funds in your account. You can simply be blocked by service, so you will fight with the exchange. Now I use exchangers without registration, for example, ChangeNOW, which looks good at the moment. Their support also inspires confidence, addressed them several tickets, they solved the issues quickly. But, of course, everyone should choose what is better for him.

wuvdoll

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Quote from: mikyadel on February 21, 2019, 07:51:14 AM

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 ?

I am always having secondary thoughts about sudden change of terms so that I might need to clear KYC with my exchange. I mean I just want assurance that I never need to have any KYC clearance as long as I am dealing only with cryptos and not fiats. I'm not sure that any exchange is providing such guarantee that they will never look for KYC when we will trade only cryptos without touching fiats parts.

Other than this I am always want stable and highly secured exchanges from hacking attempts but that will not be possible for any business because they are also not aware of how strong the hackers will come against them.

Mr.grin

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well, security is the most important thing from an exchanger. we know there are so many types of exchangers nowadays, but some don't have a pretty good security system. besides, we also need real trading activities, this makes an exchanger avoid the fake volume.

Caladonian

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Quote from: omonuyak on February 26, 2019, 02:35:12 PM

I do prefer transparent , security and decentraliziation. If and exchange can be Build on the foregoing I think I will seriously like it. The security of the exchange platforms is very important and we can see how much has been lose through hack on exchange in the past because of lack of security.

Money matters, it's our hard earned money so what we wants is the security inside the exchange where we will be exchanging and do our trades,
with continuous updates and progress regarding to security exchange might be appealing to me, together with customer assistance if centralized
exchange.

Protections of assets, making sure that everything is safe against intruders and hackers.

LUCKMCFLY

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I recommend the top 5 Top Exchanges, but you must make sure that at least you have the opportunity to trade in Margin Trade, and that you have the option of placing yourself in a Stop Loss and Take Profit position at the same time, I think that only Bitfinex is the one who owns it, the only thing is that they ask you to enter 10k, either USD or the equivalent in cryptocurrencies, otherwise, you decide which Exchange is best suited to the type of trading you want to do.

Pig_CCreate

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Something that wasn't mentioned yet is that the exchanges need to support your local currency if you plan to withdraw or deposit into the exchange. For example, Coinbase has a breakdown of the countries that is supports and what is possible for those currencies: https://www.coinbase.com/global

If you want to transact in let's say Mexico Pesos, then you are limited by a much smaller subset of exchanges that can be used. While most of the major FIAT currencies are supported, there is a huge demographic that most crypto exchanges haven't supported yet.

omonuyak

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I do prefer transparent , security and decentraliziation. If and exchange can be Build on the foregoing I think I will seriously like it. The security of the exchange platforms is very important and we can see how much has been lose through hack on exchange in the past because of lack of security.

malikusama

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Quote from: dothebeats on February 21, 2019, 01:49:45 PM

Quote from: Crypto Girl on February 21, 2019, 09:39:55 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

The bolded option seems to be a rare find in exchanges nowadays. Yes, they may have customer support service but most of them take days or even weeks to respond in an urgent query. Some may have live chat available, but pre-generated text is what greets me most of the time whenever I have something to ask. I am yet to find and exchange with an exceptional customer service that really replies within the day and actually resolves my problem on their platform whenever I need it.

It's hard to response the queries within a day when there are numerous users.
Even the top listed exchanges can't respond timely because they have to process bulk of requests regularly.

24/7 support(query response) will be great if any exchange implement it in future but it's not necessary if the exchange is trusted, secure and have high liquidity.

kalstarzz

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for me most exchanges have occupied what I need. but if I can fulfill it I need a notification when there will be a coin or token that will do a scam.

marcous

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In addition to the previously mentioned security and easy deposit and withdrawal transactions, of course, Exchange that doesn't use BOT is a good criterion and good choice for traders. Considering the existence of BOT is very annoying I guess.

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