Some basic elements to consider are:
1) High Reputation & Professionalism of the Exchange Management Team and Cold Wallets
2) Liquidity
3) A good due diligence on the listed projects
4) Ethical standards of the exchange so they don't list / delist cryptos based on personal interest.
Topic: Which unique factor makes crypto exchange a reliable choice to start trading? - page 4. (Read 849 times)
May 07, 2019, 05:15:53 AM
May 07, 2019, 04:23:58 AM
What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?
Reputation and quality factors of the exchange will determine the level of security that we will get, so in my opinion that the better the reputation of an exchange, the more services we will get. Choose an exchange that has a good reputation because then we will get the opportunity to seize opportunities in achieving the results we want to achieve. Safety factors are the most important thing at this time. 
May 07, 2019, 04:10:05 AM
How gaining high returns from bitcoin fund investment is a win-win situation for traders?
If we purely speak about how to get the maximum profit out of a coin we want to speculate in or we want to trade, thinking and deciding about the exchange is the first step and for that, you need to understand why you should pick a particular exchange. What I do is that I go through the reviews of the users of the exchange and check the trading volume over their website. This is important to know the number of people who use an exchange because it reflects the potential and prestige of the exchange. May 06, 2019, 10:49:49 AM
Most of the exchanges site are almost samd and I think the other crypto exchange are become popular and traders are choosing their exchanges site it because the security of course the most looking for the trader and the coin listed if they have coin listed and not only coin but the coins who are potential. We know most exchanges site are listing shitcoin which is not good so that exchanges site have strict to list coin they need a lot of test and only potential coin will be listed.
May 06, 2019, 08:37:22 AM
How gaining high returns from bitcoin fund investment is a win-win situation for traders?
May 02, 2019, 01:29:17 AM
What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?
One of the best feature is anonymity, though you might say that this exchanges do verification, but the verification they do are for withdrawals from a certain amount which I will not trade on just a particular exchange so I can avoid giving out my private details all in the name of verification, I also love the way some of this exchanges platform are very user friendly and you don't need anyone to tell you how to make use of the platform, one of the best exchange I like making use of so much is binance because of their user friendly platform. April 27, 2019, 07:03:28 PM
I don't think it's the case of these exchanges having one "unique" factor. It's mostly a mixture of a few things:
As for Binance though, like what leowonderful said, it's mostly because of Binance not requiring KYC unless you're withdrawing huge amounts of crypto, because most exchanges require KYC. I really can't speak for the others, as I've only used Binance(and Bittrex for a few times years ago).
- Security(as far as I know these services are secure enough)
- Ease-of-use
- Uptime
- etc
As for Binance though, like what leowonderful said, it's mostly because of Binance not requiring KYC unless you're withdrawing huge amounts of crypto, because most exchanges require KYC. I really can't speak for the others, as I've only used Binance(and Bittrex for a few times years ago).
That factor you example given to user calm and safe to put their investment, security is the most first important thing choosing crypto exchange second is fair fees. I use Poloniex give it convient and low fees for the trading fees.
April 27, 2019, 06:38:55 PM
I think some people missing two important reasons why they're really using exchanges like Binance - high liquidity pool and security of assets holded on the exchange.
April 27, 2019, 05:27:17 PM
Their service's uptime is what is important for an exchange since technically the crypto market has no market opening and closing we need their services to be reliable for 24/7 because you just don't want to be missing any of those trades. Other than that their U.I. smoothness in operation, you don't want to be using an exchange that lags or hangs during your trade since this can make or break you. Most exchanges when it comes to pricing are on par you always need to look at their reliability when it comes to their operation
April 27, 2019, 05:18:39 PM
For binance it is for sure the volumes they got. For bittrex it was the coins they where offering some years ago.
Big or small a no fuzz no pain exchange is the thing we want, no unexpected down times or long wallet upgrades.
Big or small a no fuzz no pain exchange is the thing we want, no unexpected down times or long wallet upgrades.
April 27, 2019, 03:54:34 PM
I'm only going to talk about Binance since its the number 1 right now.
Binance is not really the most advanced when it comes to trading tools but they started and popularized exchange tokens plus they probably has better marketing team. They also had a great timing when they launched.
Binance is not really the most advanced when it comes to trading tools but they started and popularized exchange tokens plus they probably has better marketing team. They also had a great timing when they launched.
April 27, 2019, 03:41:01 PM
What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?
I think binance will make me to get involved in exchanges and trading because that transparency and trust was increased in this every time while I doing the exchanges and it will be comfortable for me. April 27, 2019, 02:21:19 PM
Binance trading is far more futuristic and more secured trading compare to all trading platforms i prefer binance
April 27, 2019, 12:08:43 PM
What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?
I believe there is no special magic they are using other than these things: Intelligent team, hardworking teams, good trading interface, great strategy, transparency, low fee and the security they give to their users, especially that of Binance. If a new exchange can also be able to come up with all these features and ready to use necessary media tools to make the hype, then they can also gain lots of users and trading volumes in their own site to. There are so many people that are also looking up to exchanges that will always give them a prompt audience anytime they have an issue to be resolved.
April 26, 2019, 02:40:21 PM
Hate to say it, but being regulated by the government is a biggie with me. It instills just a little faith that an exchange isn't going to try something funny, because the government is watching. And no, I'm not one of those people who puts a lot of stock in them to take care of me or anyone else, but when you get an exchange that doesn't have to report to anyone (like Yobit), anything can happen. That's why I would use Coinbase in a second if they hadn't cancelled my account.
Aside from the trust issue (which is huge), a good user interface is key. Nice and intuitive, like Binance. Even Yobit has a good site, although some of their pages have a really hard time loading and they have way too many coins listed. That's why I can't stand Kraken. Their website sucks IMO.
Keeping the wallets ready to be withdrawn from is another issue I've had with some exchanges, especially Yobit. You need to be able to withdraw your money at will, especially with crypto exchanges. It's almost like a mantra around here that nobody should be keeping funds on an exchange for any period of time.
Aside from the trust issue (which is huge), a good user interface is key. Nice and intuitive, like Binance. Even Yobit has a good site, although some of their pages have a really hard time loading and they have way too many coins listed. That's why I can't stand Kraken. Their website sucks IMO.
Keeping the wallets ready to be withdrawn from is another issue I've had with some exchanges, especially Yobit. You need to be able to withdraw your money at will, especially with crypto exchanges. It's almost like a mantra around here that nobody should be keeping funds on an exchange for any period of time.
April 26, 2019, 02:36:50 PM
To my opinion legality and security are the most important things and wirh that trustworthy comes along. It's always good to check who is behind the exchange, is it everything according to the law and how is their customer support. If they don't care for the customer and haven't provide secure and legit services to them, such exchange should be avoided.
April 26, 2019, 02:11:45 PM
Liquidity and security are the ones I always consider as top priority in choosing an exchange platform. An intuitive UI is to be expected yet I always feel that exchanges already have these things covered. Customer support doesn't bother me at all as long as the platform is working well, and I can also wait for their replies as long as they come up with a resolution/answer to my questions. If an exchange have those things covered, I might go ahead and give them a try.
April 26, 2019, 12:53:33 PM
What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?
I seldom use an exchange for trading as I only trade whenever I have a specific altcoin to trade. I prefer binance since it has a huge volume and it's really convenient and easy to access since KYC is not really required for you to withdraw funds.
Our local wallet is convenient enough to trade from fiat to either btc, xrp, eth and bch. As time goes by they add more currencies as option, so I think this is more convenient and cost friendly since I will not have to pay for transaction fees and exchange fee.
April 26, 2019, 11:24:15 AM
What is the key reason for the success of top cryptocurrency trading exchanges like Binance, Coinbase, Coinmama, Kraken, and Bitrex? What are the unique factor which make them each other competitors?
Volume is the biggest thing that makes all these exchanges work and not the unique factors.If you look at the "big name" exchanges you will see that they were or are the biggest exchanges in volume one time or another, binance is big right now, poloniex used to be big, bittrex too and now bitmex is huge as well so if you think about the exchanges the number on the volume chart is the thing that made them so famous.
I started to use binance early on because they had the option of affiliate work and I was interested in that since I have a wide network of people I can send links to and maybe I could have made some money with that, I didn't made much probably around 100 bucks total but it was worth a shot and I suppose many people did that and that is why they got so famous so quickly which could be an unique factor for them.
April 26, 2019, 08:28:13 AM
Thank you for sharing your views, they will genuinely help me in future trading. I still have a doubt please help me out in this- What you are expecting from a crypto trading exchange which you are still missing in your current exchange?
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