What do you need in A Cryptocurrency Exchange ?! - page 5.

mikyadel

full member

Activity: 448

Merit: 100

Arabic Translator

Quote from: mrdeposit on February 21, 2019, 05:27:21 PM

Security is definitely the most important factor or if money is stolen, it would be fair to refund it from their frozen balance.
Secondly, it may be decentralization. So managing our exchange wallet with private key is fair. Exchange is like a prison, ''restrictive''.

Quote from: Clark05 on February 21, 2019, 07:34:39 PM

Im looking for exchanges site who are have support daily and the security is very secure and the features will be updated everymonth and the withdrawals is instant and the deposited is only takes only 1 confirmation to use it and also the withdrawa fees and I think if that cryptocurrency exchanges site have that for surr most trader will be register and trade to them and Binance is the most perfect example for that who are the most trusted and popular exchanges site in crypto community.

so security is a big factor , but how can you determine if an exchange is fully secure or not !! and would u prefer semi-secure centralized exchange with lots of features or fully secure decentralized one with few features ?!

babarian

full member

Activity: 658

Merit: 100

some of the natural things I want and I expect on an exchange are:
1. security guarantee
2. Low withdrawal fees
3. 24-hour admin service

wayaneka

full member

Activity: 644

Merit: 101

High level of security is the most important thing because many centralized has been hack, and second one is they should be have insurance to avoid member lossing money incase the exchange get hack or others bad issue. Crypto exchange also should be have fully regulation to avoid ban from the goverment. Alot of centralized exchange been operated but less decentralized exchange, even though alot of trader want to use decentralized exchange because we have the private key so that mean we have full control with our funds.

JohnBitCo

sr. member

Activity: 2030

Merit: 356

Quote from: Clark05 on February 21, 2019, 07:34:39 PM

Im looking for exchanges site who are have support daily and the security is very secure and the features will be updated everymonth and the withdrawals is instant and the deposited is only takes only 1 confirmation to use it and also the withdrawa fees and I think if that cryptocurrency exchanges site have that for surr most trader will be register and trade to them and Binance is the most perfect example for that who are the most trusted and popular exchanges site in crypto community.

Confirmations does not matter in withdrawals and deposits from exchanges. It is better to have 3 confirmations before actually deposits / withdrawal happens so that there can be no cheating. For me, the exchange should be user friendly and should have all the features like stop loss etc.
In many small exchanges, I do not trade because there is no option for stop loss to be used.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

It must be robust and secure. Security is the most important thing which many exchanges lack of and hence get hacked.
People loose their money due to this and I think this must be the most important thing any exchange should strive for.
Also, a variety of pairs, easy deposit/withdrawals, 2FA/OTP needed on withdrawals are some things that I like in an exchange.

semobo

full member

Activity: 1498

Merit: 146

- High trading volume
- More security features like 2FA,IP authorization
- Good customer support
- Less fee
- More trading pairs

davis196

hero member

Activity: 3094

Merit: 929

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 ?

I need only one thing-my private keys. Grin

All the other stuff,like liquidity,low transaction fees,good customer support,etc. are important as well,but you know the saying."If you don't own the private keys,you don't own the coins." Grin

shesheboy

full member

Activity: 714

Merit: 114

Quote from: BlackPanda on February 22, 2019, 10:52:53 PM

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 ?

For me, the most important thing is that the exchange has a good level of quality, I usually will trade in an exchange that has a good security reputation. This is because our assets will be much more guaranteed. At this time there are so many events about hacking exchange, this is what makes me feel that security is the main factor that determines us in choosing an exchange for trading.

if you are conscious about your security then you must not store your assets on an online exchange for a longer time because that is always risky even if you say that an exchange is popular or trusted enough . not only on online exchanges but also on online wallets as well . just put only the asset that you will trade immediately . that is what im doing and i never been experience to get hack until now .

in my case , security is not my first priority but what im always looking for to an online exchange is their coin listing . i notice that im having a hard time to find my coins because almost all of them are not interested listing my coin .

BlackPanda

legendary

Activity: 1414

Merit: 1001

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 ?

For me, the most important thing is that the exchange has a good level of quality, I usually will trade in an exchange that has a good security reputation. This is because our assets will be much more guaranteed. At this time there are so many events about hacking exchange, this is what makes me feel that security is the main factor that determines us in choosing an exchange for trading.

valheru

full member

Activity: 487

Merit: 115

I think the most important thing in the exchange market is speed. When traders do buy and sell, the system should never slow down the other issue is the deposit and withdrawal of money. The system should not wait while you deposit or withdraw money. Some stock exchanges are really awful about it. I Never and never use the exchanges that offer slow transfer and withdrawal.

tbossmitche

jr. member

Activity: 213

Merit: 1

Due to the fact that each cryptocurrency exchange platform has it's own set of shortcomings. The best we can actually do is to determine the flaws we can live with and those that simply won't work for us. When attempting to trade, the first and key thing I look out for is the security of the exchange platform. I go with platforms that give me peace of mind as I can't afford to loose my funds. Other factors besides security which I look out for include; privacy, liquidity, support, fees charged for trading and withdrawal. My advice is to always go with the most popular platforms if you do not intend to do a thorough research.

joromz1226

sr. member

Activity: 798

Merit: 258

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 ?

Of course the no. 1 needed is the security, just like 2FA(Factor authentication) no delay for transaction whether deposit or withdrawal for their client users. Then their support must alert at all time, in short they shouldn't take too long before giving a response to their customers, also accurate liquidity.

r_uyab

jr. member

Activity: 182

Merit: 1

now I prefer to exchange large volumes and I will invest in ethereum and bitcoin because now the price is starting to increase, so I really can get a better profit too

Reid

hero member

Activity: 2912

Merit: 642

Trustworthy, events and of course low transaction fee.
I want my coins in and out. I want freedom just so I could comfortable and not think of an exchange just going down because of a bad reason.

Mostly they are getting bankrupt or they are just pure evil.
I dont feel safe in any exchange and that is why it will be better if the fees are so low. It will also be better for them since they are getting money for doing nothing.

Clark05

sr. member

Activity: 1274

Merit: 263

Im looking for exchanges site who are have support daily and the security is very secure and the features will be updated everymonth and the withdrawals is instant and the deposited is only takes only 1 confirmation to use it and also the withdrawa fees and I think if that cryptocurrency exchanges site have that for surr most trader will be register and trade to them and Binance is the most perfect example for that who are the most trusted and popular exchanges site in crypto community.

Razerglass

legendary

Activity: 1036

Merit: 1000

https://bmy.guide

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

For privacy it is logical to use decentralized exchanges than blindly believing to big centralized exchanges.
Security is still main issue and i am really scared after the leak of data that contains hashed emails,passwords,secret questions on coinmama.
Liquidity will increase after bear market.
Support is necessary and big exchanges should implement the system for emergency cases.
I prefer to wait for 3 days if theme is about crypto to fiat transactions.

fibrolit

sr. member

Activity: 784

Merit: 255

Each of us has its own criteria for choosing an exchange. If I want to exchange some little-known token obtained in the bounty,I go to a decentralized exchange.If I have a huge balance sheet,most likely I will choose a huge exchange and a trading pair with a turnover of several tens of millions of dollars a day. There is not enough exchange in the Fiat necessary for my country.

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

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

Hey everyone,
...and what existing exchanges lack of ?

Lack of employees especially the global exchanges.

I understand that global exchanges does support several countries so responding to concerns might take time. But at some of the cases, especially the major ones, it takes several days or weeks and some of the reasons are; investigating and checking. Isn't it mandatory that if a company will set up a global exchange and quiet reached the status of being one of the reputable exchange, there should be an upgrade of supporting staff.

Here in our local exchange, the famous and most used in our country, support will respond in less than 24 hours. The support volume is way lower of course compare to global exchanges but their employees are not that much but still can handle it (I think around 500 reports per day based on my known person who works there). I know global exchanges can do this too since they are committed globally.

leowonderful

legendary

Activity: 1624

Merit: 1130

Bitcoin FTW!

My ideal exchange has the following features:

Multiple security options like 2FA available to combat hackers, block new IPs from logging in, etc. Plenty of sites email me when a login's been detected from a new IP, but a number of the ones I am registered on don't actually require you to authorize the login through a link on the email.

Must have a physical location. Most but not all exchanges that don't have physical locations are scams, especially newer ones.

Liquidity

Good support for whenever things go wrong like deposits, trades, etc.

Reasonable withdrawal fees and trading fees. I typically don't do lots of small withdrawals from exchanges so fees aren't usually a problem for me, but the fees add up over time. Some sites also have pretty high trade fees, which most people don't initially notice when signing up for an exchange.

Ains_sama

full member

Activity: 608

Merit: 100

indeed there are so many exchanges nowadays, and I prefer to exchange large volumes, and I really like investing in ethereum.

Topic: What do you need in A Cryptocurrency Exchange ?! - page 5. (Read 784 times)