Topic: What would you want to see on a Crypto Only exchange ? - page 2. (Read 643 times)

I think ID is VERY important depending on the level of your activity. If a place requests your ID even before doing a single trade and claims that they need your KYC for every single thing than I am sorry but they are not a good exchange.

Yes, I do know that people who trade or deposit/withdraw over 2 bitcoins should be checked and the money laundering is a big issue in many countries and allowing them to do whatever they want without any personal information would turn out to be giving the drug dealers a way to launder their money via crypto which would be horrible for us but in the end as long as its just 0.1 or even smaller they are not money launderers they are just regular people, nothing bad could happen from a guy who just wants to trade 0.1 or similar numbers. So, ID should be asked only to people with over 2+ in their account and not under.

I don't think our ID is too important at exchange. Sometimes we have problems, our ID will help support become faster.
What I really need in a exchange is prestige, high level of security and always a stoploss command.
stoploss is really important, we can not worry too much about being afraid to dump too hard.

You bump this old thread with having a nonsense reply.On an exchange you do really have that opportunity to buy and sell because

this is the purpose on why these exchangers do exist.Answering the topic,we do already see most of things on a crypto exchange
but kyc regulations being imposed too much on strict basis.

KYC happens these days.

This isn't about the service of an exchange but it's about the timing to buy and sell when there's time. Sell at good time and buy at the right time, this shouldn't be expected to an exchange because you are responsible with your trading technique.

A fully decentralized exchange, where people control their own wallets. Pretty much like Bisq but i would hope to get something done in c or c++ rather than Java, that lets you use your system's Tor instead of its own.

Thats what i would like, based on my experience with Bisq.

KYC , Fast withdrawals , fast deposits and Customer Service 24/7 with live chat and probably 24/7 call center There is no way it could work without KYC novadays . Most of the exchanges requires now kyc if they want to operate :/ Ofcourse with small sums u don't need to do it , but something over 1-2 BTC ( Depends from exchange ) should be KYC'ed ...

I will also say no kyc for amount up to 1 bitcoin, faster withdrawal and not high fee when withdraw, get coins on exchange after 1 confirmation if is possible and obviously a secure exchange.

Give a convince to everyone or users that the exchange will never be hacked. There are many risks that must be faced by cryptocurrency users for the money they spend. The matter of volatility, withdraw fee, personal identity and so on, these things must be passed by many users. And the horrible thing is hacking, as you may know almost crypto exchange has been hacked by hacker until now. It doesn't only give a negative impact on the user's trust, but the consequences of the theft can worsen the market situation. When there is an exchange who has stolen with a huge amount of bitcoin or altcoin then we will the price will fall and change the condition of sentiment market.

There are more than one things that I want to see in the Crypto Only exchange,

1. Lower brokerage
2. KYC norms to prevent misuse of crypto
3. Compliance to global AML law
4. Tax Consulting service at no extra cost

The reputation of crypto is at stake! We need these measures to win back the trust of the mass!

For now all I wish to have on an exchange is the no transaction fee on withdrawal of cryptocurrency from the wallet upto one bitcoin worth of assets. On an exchange wallet I have funds which were deposited during the year 2017, but with the difference in the value of the holdings I was unable to withdraw the funds as majority of the fund is getting calculated for withdrawal fee when I request for withdrawal. On account of the same, fund is being left on the exchange for a better growth of the respective asset.

can make a custom wallet, in my opinion is very useful because with a custom wallet everyone can make or choose a wallet address that can be easily remembered. and the wallet address can also be changed at any time without having to confirm to the customer service.

though this thread was bit old already, yet the features that you mentioned are still relevant today. but if you are using your local exchange, normally they require you to complete the kyc. otherwise, your limit is very low. so for me, as long as i know the exchange is running legit operations, i can proceed the kyc requirements. but for new exchanges that you don't even know who is behind that platform, i won't think twice of not sending my data either.

I'd say no KYC for transactions below 0.5 BTC or equivalent, insignificant fees, user-friendly interface (no mixing up types or orders, "wallets" on the exchange etc), high trading volume, so that it's actually possible to use the exchange effectively and guarantees of compensations in case of a hack wouldn't hurt. And also, I think that it should either be decentralised, or the owners have to be publicly known, so that they can be punished if things go bad.

decentralized exchanges is what you need without strict verification of sending your own information just to use their exchange or to cash out just your private key and your good to go, but if the exchange is reputable, trusted and authentic that would not be the issue, by the way, I want to see faster response and action to any technical errors or hacking problems that would be convenient.

What do you guys think about Exchange Exchanges / Exchangers? Yes .. Definitely the Exchanger is a place where we can exchange Cryptocurrency or coins with other coins. Well usually Exchange this exchange or services that exist in exchange exchanges is provided by a group of people or companies to help and facilitate us in conducting transactions / exchange coins.

You do have already some crypto only exchanges. The most known of them is probably Etherdelta, but most of the decentralised exchanges out there are cashless and most of the times they do not require ID nor KYC.

I really miss the BTC-E days when it was convenient and fast to deposit and withdraw funds to make trades. BTC-E may have been the quickest and most efficient implementation of a crypto exchange I'll ever see.

With newer exchanges there's tons of red tape and pointless regulation that doesn't appear to do anything useful. The net result of all the kyc checks could be crypto currencies become less profitable and poorer demographics intending to trade have a harder time. Then there are issues like coinbase delays which could reduce buying of crypto and have the potential to reduce demand and price of bitcoin over time.

A crypto only exchange could be an interesting concept in that there might be no legal obligation to pay taxes until after the crypto is exchanged for fiat. It could be similar to stocks where there is no capital gains tax to be paid until after the stock is exchanged for fiat.

An exchange could be tough to run profitably. There may not be a whole lot of room for innovation of business model given how throughly explored electronic trading platforms have become over the past few decades. Commission less trades could represent something like a holy grail in terms of trading being much more forgiving. But then given how HODL may be the best trading strategy by far, its possible commissionless trades need to entice traders to make moves other than HODL.

With exchanges the question may be what represents the next generation advancements that will be made in trading platforms. Maybe there is some potential for better data management, better loan options, better algorithmic trading. I kind of feel like there may be other directions which could be explored.

Not only no need of ID but add faster withdrawals, some are delayed a lot

I don't have any issues with needing to upload ID for larger withdrawal limits etc, this is just so that the exchanges can comply with law. For me I would really like low fees, paying 0.25% or even 0.1% on a trade is pretty ridiculous. Bittrex is making something like 7.5m a day or more right now. An exchange that can handle immense volume without bugging out or lagging would be great.

Support is very important honestly because there are lots of people impatient so if there is a active support they resolve the issue..
Also like the other said sending ID is not recommended just for security purposes because anytime soon they can use your document in the future..
So for safety they should need to remove the policy sending document just for verification..

Just a simple trading with analysis tools would be also good exchange site so that you don't need to pay for any analysis tools outside..