What would your ideal crypto exchange look like?

Lagduf

sr. member

Activity: 1162

Merit: 260

Quote from: Kepler-148b on August 25, 2017, 09:54:01 PM

Here's a couple from me:

- Ability to freely exchange between cryptocurrencies and the stock exchange. That would be rad.
- No fees. Believe it or not this is actually possible, for example Robinhood (a stock trading app) does not charge any fees when purchasing stocks. They way they do this is by investing the spare money in your account that isn't invested in stock.

I believe that both of these are opportunities for those of you considering starting an exchange.

No fees will give a manipulation chance for the exchange site to play the price of coin, You can see the history of the chinese market and that has proven about the worst thing of the no fees exchange site.
That's why the PBOC try to regulate the chinese exchange site.

mobnepal

legendary

Activity: 1218

Merit: 1006

- Very low fee on trading and withdrawals. (no fee structure can't be sustainable)
- Decentralized platform so that we don't have to trust any third party with our crypto or fiat.
- High trading volume so that spread on orders will be less.
- Chat support so that any problem can be solved in few minutes
- Trading platform that supports perfectmoney like payment gateway and doesn't require any verification or doesn't have any KYC policy.
- Platform that will not store any of their client details on their server.

I think all this feature can be included but couldn't find one with all the above feature. Bitsquare sound quite similar but they are still in development phase.

Kimpoiluiseta

hero member

Activity: 532

Merit: 500

Quote from: Kepler-148b on August 25, 2017, 09:54:01 PM

Here's a couple from me:

- Ability to freely exchange between cryptocurrencies and the stock exchange. That would be rad.
- No fees. Believe it or not this is actually possible, for example Robinhood (a stock trading app) does not charge any fees when purchasing stocks. They way they do this is by investing the spare money in your account that isn't invested in stock.

I believe that both of these are opportunities for those of you considering starting an exchange.

if you open market exchanger without fee is imposible because, exchanger need income to operational
except only direct exchanger, member send coin for you, and you pay use internal rate under market

revswim93

newbie

Activity: 36

Merit: 0

No registration, tor hidden service, instant free off-chain atomic swap with onion routing and zk-SNARKs.

warden

full member

Activity: 336

Merit: 100

Fast support ! Fast support is what all the exchanges need they need a better customer support !
they need to reply to ticket faster (and not waiting for weeks)
they need to start caring about what they costumers need and want
finally they need to stop NOT GIVING A FUCK about you or your money!!

Kepler-148b

newbie

Activity: 21

Merit: 0

Quote from: pooya87 on August 25, 2017, 10:59:10 PM

Quote from: Kepler-148b on August 25, 2017, 09:54:01 PM

Here's a couple from me:

- Ability to freely exchange between cryptocurrencies and the stock exchange. That would be rad.
- No fees. Believe it or not this is actually possible, for example Robinhood (a stock trading app) does not charge any fees when purchasing stocks. They way they do this is by investing the spare money in your account that isn't invested in stock.

I believe that both of these are opportunities for those of you considering starting an exchange.

people in crypto who are trading it, specially the altcoin traders have no interest in stocks. the profit you can gain in an altcoin is ridiculously high that you won't waste your money by making it stuck in a stock Cheesy

My experience is that many (most?) altcoin traders also invest in stocks.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: Kepler-148b on August 25, 2017, 09:54:01 PM

Here's a couple from me:

- Ability to freely exchange between cryptocurrencies and the stock exchange. That would be rad.
- No fees. Believe it or not this is actually possible, for example Robinhood (a stock trading app) does not charge any fees when purchasing stocks. They way they do this is by investing the spare money in your account that isn't invested in stock.

I believe that both of these are opportunities for those of you considering starting an exchange.

people in crypto who are trading it, specially the altcoin traders have no interest in stocks. the profit you can gain in an altcoin is ridiculously high that you won't waste your money by making it stuck in a stock Cheesy

the no fees feature is obviously always something that attracts a lot of people but only if it is possible to do and not end up doing shady things in the background like fake pumping coins yourself (the exchange i mean) to make money.

but the most important feature of an exchange that everyone is looking for is "trust". we have seem multiple times that exchanges easily run away. if we can solve this somehow it will be cool.

the other thing is anonymity. these days the big exchanges have even started asking for verification. we are using currencies for god's sake! asking for verification is absurd.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Here's few things that comes into my mind when thinking of my "ideal" exchange.

Low fees, but yes, impossible like you said
Slick UI, pretty much like a cross between Bittrex's UI and Bitfinex's UI. I like them alot.
An exchange that has a mobile app. Bitfinex has one, but it's very hard to navigate through in my opinion.
More trading pairs. Like lets say.. Sia to XMR, IOTA to Sia, NEO to Factom, etc and vice versa.
Exchanges that has an active customer support. I'm looking at you, Poloniex.
An exchange that pretty much supports all decent cryptocurrencies. Bittrex has been doing good with adding other cryptocurrencies. If only they'd add IOTA though
An exchange whereas you can choose what withdrawal transaction fee you want to use. Withdrawal fees are so high. Most of the time I'm not in a rush for withdrawing my funds, so I'm ok with low fees and 24hr ish withdrawals.
Having 2 factor authentication. Though most if not all exchanges has this feature already.
Fast personal verification times. I personally don't use coinbase as it doesn't support my country, but I've heard that coinbase takes weeks to confirm your verifications.

So, yeah. Here's just a "few". I might edit my post if I have more ideas.

Kepler-148b

newbie

Activity: 21

Merit: 0

Quote from: cpfreeplz on August 25, 2017, 10:01:35 PM

Lol yeah, ideally very easy. No username, no password, just send a wallet bitcoins and they send me whatever I bought automatically. I think no fee would be nice for the consumer but crappy as a business model. It wouldn't make much at all.

I believe Robinhood are doing pretty well financially actually. One thing they do to boost earnings is to make you wait 5 days before you can withdraw your fiat, making interest on it in the process. Pretty clever.

cpfreeplz

legendary

Activity: 966

Merit: 1042

Lol yeah, ideally very easy. No username, no password, just send a wallet bitcoins and they send me whatever I bought automatically. I think no fee would be nice for the consumer but crappy as a business model. It wouldn't make much at all.

Kepler-148b

newbie

Activity: 21

Merit: 0

Here's a couple from me:

- Ability to freely exchange between cryptocurrencies and the stock exchange. That would be rad.
- No fees. Believe it or not this is actually possible, for example Robinhood (a stock trading app) does not charge any fees when purchasing stocks. They way they do this is by investing the spare money in your account that isn't invested in stock.

I believe that both of these are opportunities for those of you considering starting an exchange.

Topic: What would your ideal crypto exchange look like? (Read 346 times)