Which unique factor makes crypto exchange a reliable choice to start trading?

guoyu78

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Quote from: jessicalea on April 25, 2019, 08:00:55 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?

I think what makes them competitors is because they are all popular in the market. The exchanges you have mentioned are very popular in the market cause they have been able to build names for themselves by being trustworthy. These exchanges are secured and offers good services and that makes them big competitors in the market.

Any of these you choose is a good choice, I usually make use of Binance and Coinbase, I also have an account with Bitfinex but I hardly make use of that one. Three exchanges are enough for anyone that wants to be a trader, though there are people who likes to register in so many exchanges because they think that is the best thing to do.

jessicalea

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Is the integration of custodial services like BitGo with crypto exchange the best practice to improve users’ trading experience?

jessicalea

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Thanks for sharing your knowledge with us. It really helped us to identify the best and unique features that an exchange must comprise.

GregH37

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Quote from: jessicalea on May 23, 2019, 07:33:50 AM

Will Bitcoin break its all-time high record by the end of this year?

1. Yes
2. No

You can start another topic with this because this does not really relate to the discussion we are having here and as you can see, it is not relevant here, but to do you that little honor of getting an answer, I think no, bitcoin cannot really break such record this year but not to say it won’t be that possible by next year.

The last time bitcoin reached about $20k, I think the total market capitalization was about 800 billion dollars and look at what we have now, it shoes that we need lots of investors to make this happen, and the remaining part of this year is too short to make that happen now.

Cosbycoin

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Quote from: bitgolden on May 22, 2019, 06:07:35 AM

Quote from: EagleTrade on May 21, 2019, 06:13:32 AM

There is no best exchange in all terms. Form my watching small traders like binance because it is easy with huge pairs of coins , no verification required and mobile app.
Big investors choose another exchanges like bitmex , bitstamp , bitfinex or bittrex ...etc.

choose what terms you want to take into consideration

Thanks for letting them know this mate, instead of people focusing on what exactly will make their trade successful at a particular time, they are busy hailing security as if exchanges have now turned to wallet, we are talking about money here, and they are talking security.

I am not saying security is not right, but the first thing is the features of the exchange that will allow one make money immediately one gets to trade, what is there to be secured if money is not made? Will hackers still zero balance after losing a trade? What is more important to me is volume and the pairs available, then I look for how to protect my coins myself against hackers.

I think based on the user base of the digital exchange, we can really classify exchanges and Binance having more than 90% users would be the best. And the reviews about Binance have not been so bad lately. In addition, they tried to cover the loss of its users after the hack which was something that maximized their popularity and yeah, their user base is rising.

South Park

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Quote from: bitgolden on May 22, 2019, 06:07:35 AM

Quote from: EagleTrade on May 21, 2019, 06:13:32 AM

There is no best exchange in all terms. Form my watching small traders like binance because it is easy with huge pairs of coins , no verification required and mobile app.
Big investors choose another exchanges like bitmex , bitstamp , bitfinex or bittrex ...etc.

choose what terms you want to take into consideration

Thanks for letting them know this mate, instead of people focusing on what exactly will make their trade successful at a particular time, they are busy hailing security as if exchanges have now turned to wallet, we are talking about money here, and they are talking security.

I am not saying security is not right, but the first thing is the features of the exchange that will allow one make money immediately one gets to trade, what is there to be secured if money is not made? Will hackers still zero balance after losing a trade? What is more important to me is volume and the pairs available, then I look for how to protect my coins myself against hackers.

I am against all of those people that use exchanges as their main wallets but security should still be the number one priority because even if you have your coins in the exchange just long enough to make your trades and then you send your coins to your wallet again, during that brief window the exchange has control of your coins and you could be unlucky enough to lose your coins to hackers during that time frame.

jessicalea

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Will Bitcoin break its all-time high record by the end of this year?

1. Yes
2. No

jessicalea

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Besides liquidity and high trading volume, integration of a crypto coin trading platform with an external regulated wallet like BitGo is one of the best and unique features to facilitate secure trading. It will also mitigate the apprehensions of the crypto holders of losing their assets.

Timmzzy

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Quote from: mirawantirinjana on May 21, 2019, 02:05:14 AM

Comfort for users, that is the main factor for an exchanger platform to gain the trust of its users so that many traders trade on the platform.

Bittrex have been doing great, right from time I could remember when the platform wasn't too welcoming and this made some newbies not to catch up how to make use of the platform. They still remain the top Exchanger, when it comes to security.

Timmzzy

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Quote from: jessicalea on April 25, 2019, 08:00:55 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?

Aside from volume and liquidity, bittrex has a high range of security have Never encounter any issues with them every since I started making use of the platform.

geegaw

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Quote from: bitgolden on May 22, 2019, 06:07:35 AM

Quote from: EagleTrade on May 21, 2019, 06:13:32 AM

There is no best exchange in all terms. Form my watching small traders like binance because it is easy with huge pairs of coins , no verification required and mobile app.
Big investors choose another exchanges like bitmex , bitstamp , bitfinex or bittrex ...etc.

choose what terms you want to take into consideration

Thanks for letting them know this mate, instead of people focusing on what exactly will make their trade successful at a particular time, they are busy hailing security as if exchanges have now turned to wallet, we are talking about money here, and they are talking security.

I am not saying security is not right, but the first thing is the features of the exchange that will allow one make money immediately one gets to trade, what is there to be secured if money is not made? Will hackers still zero balance after losing a trade? What is more important to me is volume and the pairs available, then I look for how to protect my coins myself against hackers.

Dude, I don't think so, I still believe that security is still a top priority and behind it will be issues of currency pair and trading volume because how can you protect your property against hackers when a powerful and gigantic system like exchange still can't do such things, you can make more money with currency pairs and good trading volumes but you cannot guarantee it will be safe, your efforts are just useless. Therefore, focus on the security provided by the exchange, if it is not secure enough, it is still better to not participate.

bitgolden

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Quote from: EagleTrade on May 21, 2019, 06:13:32 AM

There is no best exchange in all terms. Form my watching small traders like binance because it is easy with huge pairs of coins , no verification required and mobile app.
Big investors choose another exchanges like bitmex , bitstamp , bitfinex or bittrex ...etc.

choose what terms you want to take into consideration

Thanks for letting them know this mate, instead of people focusing on what exactly will make their trade successful at a particular time, they are busy hailing security as if exchanges have now turned to wallet, we are talking about money here, and they are talking security.

I am not saying security is not right, but the first thing is the features of the exchange that will allow one make money immediately one gets to trade, what is there to be secured if money is not made? Will hackers still zero balance after losing a trade? What is more important to me is volume and the pairs available, then I look for how to protect my coins myself against hackers.

South Park

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Quote from: Whosdaddy on May 15, 2019, 03:10:50 AM

Quote from: South Park on May 14, 2019, 12:04:19 PM

Quote from: Reid on May 10, 2019, 05:35:42 PM

Security will always be at the top. No doubt about that and same with the answers of legitimate users here.
For me, next thing will be the user friendliness of the application.
Binance is one of the easy to use application and also they added an Android OS version which is and excellent move.

We are in an era now where every human being is holding a smartphone anywhere. With their android app it gets easier to see your trade wherever you are. Just needs some safety precautions to avoid damages.

Security must be at the top of any list but most of the time that is not the case, many traders are only looking for an exchange with huge volume but as we known exchanges have been know to fake their volume with bots, so I also think that one of the most important factors when it comes to selecting an exchange is to look at the reputation of the owners and their previous actions in the market to see if they are honest, if they are not then you should never put your money in their exchange.

Security is good to put first, but volume matters too, because with all the security Binance has, they were still subject to hacking which took so much off their purse. At least with volume, one can quickly get into a trade and out.

For this security issue, no exchange can perfectly guarantee security 100%, they have already advised most people leaving their money on an exchange never to do so as security of a token can only be guaranteed by the token holder using a reliable wallet with private keys that only he can have access to. So volume matter to me a lot, provided they are genuine volume which one can detect easily even if they use BOT.

Without a doubt volume is important, since a lack of volume will only allow you to to trade small amounts of money, but a huge trading volume is useless if the security of the exchange is not good, if an exchange keeps being hacked then you can be sure that eventually their customers are going to leave them and the volume will go down, so without a doubt the most important characteristic an exchange must have is security, if they have it they will eventually become successful but if they do not then the exchange will eventually fail.

EagleTrade

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There is no best exchange in all terms. Form my watching small traders like binance because it is easy with huge pairs of coins , no verification required and mobile app.
Big investors choose another exchanges like bitmex , bitstamp , bitfinex or bittrex ...etc.

choose what terms you want to take into consideration

fullhdpixel

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Quote from: pey on May 20, 2019, 08:48:26 AM

For me it is ''SAFU'' All these exchanges can be hacked or suffer specifically from cryptocurrencies they listed on their exchanges. You know even it is hacked, the lost will be covered by the exchange.

That is if the exchange keeps to their words, do you think it is all exchanges claims SAFU fund that really has it, are we there to monitor them for us to really be sure that they will do as they said? How many exchanges that have collapsed claimed they have SAFU fund but still could not meet up after they got hacked.

Binance is really the first exchange that I see kept to their word on this SAFU fund, so to me, I would rather not keep my fund on any exchange, but because of trading which usually makes it impossible sometimes not to keep fund, I will always go for security of the exchange fund, but still keep very minimal amount.

mirawantirinjana

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Comfort for users, that is the main factor for an exchanger platform to gain the trust of its users so that many traders trade on the platform.

pey

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For me it is ''SAFU'' All these exchanges can be hacked or suffer specifically from cryptocurrencies they listed on their exchanges. You know even it is hacked, the lost will be covered by the exchange.

millgates

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Quote from: jessicalea on April 25, 2019, 08:00:55 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?

Usually traders need good UX to support them. I think big exchanges site always has good UX/UI. The features also important. Some of big exchanges provide very good security to make sure that their costumers feel safe when use the exchange. Advertisement is also important.

redsun114

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Quote from: prtty2gal2 on May 18, 2019, 03:16:47 AM

Quote from: OrangeSeller on May 17, 2019, 05:56:18 AM

Quote from: Whosdaddy on May 15, 2019, 03:10:50 AM

Quote from: South Park on May 14, 2019, 12:04:19 PM

Quote from: Reid on May 10, 2019, 05:35:42 PM

Security will always be at the top. No doubt about that and same with the answers of legitimate users here.
For me, next thing will be the user friendliness of the application.
Binance is one of the easy to use application and also they added an Android OS version which is and excellent move.

We are in an era now where every human being is holding a smartphone anywhere. With their android app it gets easier to see your trade wherever you are. Just needs some safety precautions to avoid damages.

Security must be at the top of any list but most of the time that is not the case, many traders are only looking for an exchange with huge volume but as we known exchanges have been know to fake their volume with bots, so I also think that one of the most important factors when it comes to selecting an exchange is to look at the reputation of the owners and their previous actions in the market to see if they are honest, if they are not then you should never put your money in their exchange.

Security is good to put first, but volume matters too, because with all the security Binance has, they were still subject to hacking which took so much off their purse. At least with volume, one can quickly get into a trade and out.

For this security issue, no exchange can perfectly guarantee security 100%, they have already advised most people leaving their money on an exchange never to do so as security of a token can only be guaranteed by the token holder using a reliable wallet with private keys that only he can have access to. So volume matter to me a lot, provided they are genuine volume which one can detect easily even if they use BOT.

After Binance got hacked, the first factor that I will keep in my mind before selecting a digital exchange would be the security of the exchange. How secure the exchange is. Having said that, I would never go for an exchange that is not the best because I not very best exchange would be very prone towards more risks as compared to the best one. Binance still continues to be the best exchange.

Didn’t people believe they had gone for the best exchange when Binance still got hacked, we all know all the hype about balance and we believe that Binance was the most secured exchange of all exchanges ever.

I am not supporting that we don’t consider security of exchange first, but what is the security all about? Isn’t it to secure our fund? The question is, why do we have to also keep our fund on an exchange? If we have our personal wallets that we store our funds securely, I don’t think we should be more concerned about security that much but of the facilities that have in place that will make our trade smooth and more profitable.

You do not really need to keep your coins in the Hot Wallet on the exchange. You could also keep them in your cold storage that is USB stick or your hard drive. That is extra security but not everyone do that. We keep some part of coins on the exchange for trading of course. How can you trade if you keep them all in your cold storage? And in addition, you can quickly trade your coins for dollar or can hold dollars directly.

SirLancelot

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Quote from: MintCondition on May 16, 2019, 10:54:44 AM

Quote from: omonuyak on May 16, 2019, 05:00:05 AM

The volatility in the cryptocurrencies market create an opportunity for traders to make money and that makes it better to me compared to other trading assets like forex market, stocks market and commodities market. It is new and manipulation is allowed for now because it is not regulated.

In terms of trading platforms, the good thing about crypto is it's decentralised and we can trade anytime, anywhere, we can have some shares or token from different countries, other markets limit us in time as well minimal investment option.

You have to take into account all those factors that can affect the value of your coins and are related to a crypto exchange. This is very important and for me, security comes first. The more secure your assets on the exchange, the more you would be able to focus and make the max gains. An exchange like Binance would be the best to chose for that has come back strongly.

prtty2gal2

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Quote from: OrangeSeller on May 17, 2019, 05:56:18 AM

Quote from: Whosdaddy on May 15, 2019, 03:10:50 AM

Quote from: South Park on May 14, 2019, 12:04:19 PM

Quote from: Reid on May 10, 2019, 05:35:42 PM

Security will always be at the top. No doubt about that and same with the answers of legitimate users here.
For me, next thing will be the user friendliness of the application.
Binance is one of the easy to use application and also they added an Android OS version which is and excellent move.

We are in an era now where every human being is holding a smartphone anywhere. With their android app it gets easier to see your trade wherever you are. Just needs some safety precautions to avoid damages.

Security must be at the top of any list but most of the time that is not the case, many traders are only looking for an exchange with huge volume but as we known exchanges have been know to fake their volume with bots, so I also think that one of the most important factors when it comes to selecting an exchange is to look at the reputation of the owners and their previous actions in the market to see if they are honest, if they are not then you should never put your money in their exchange.

Security is good to put first, but volume matters too, because with all the security Binance has, they were still subject to hacking which took so much off their purse. At least with volume, one can quickly get into a trade and out.

For this security issue, no exchange can perfectly guarantee security 100%, they have already advised most people leaving their money on an exchange never to do so as security of a token can only be guaranteed by the token holder using a reliable wallet with private keys that only he can have access to. So volume matter to me a lot, provided they are genuine volume which one can detect easily even if they use BOT.

After Binance got hacked, the first factor that I will keep in my mind before selecting a digital exchange would be the security of the exchange. How secure the exchange is. Having said that, I would never go for an exchange that is not the best because I not very best exchange would be very prone towards more risks as compared to the best one. Binance still continues to be the best exchange.

Didn’t people believe they had gone for the best exchange when Binance still got hacked, we all know all the hype about balance and we believe that Binance was the most secured exchange of all exchanges ever.

I am not supporting that we don’t consider security of exchange first, but what is the security all about? Isn’t it to secure our fund? The question is, why do we have to also keep our fund on an exchange? If we have our personal wallets that we store our funds securely, I don’t think we should be more concerned about security that much but of the facilities that have in place that will make our trade smooth and more profitable.

raven7886

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I think "trust" is the most important factor. You may not know what constitutes a trust but that changes from person to person. For example I may trust somewhere very hardly and I would have to wait until they are literally on business for over 2 years and only tested out by someone I know and actually do trades and deposits and withdraws multiple times and see their complaints and how they resolve it and their issues with hackers and how they fix it and so forth. However, you may say "well they have a nice name" and suddenly start doing business there and keep doing business there.

For example, even I am personally different on two different exchanges, one is the altcoin exchange binance which I stopped using right now and moved to idax because of one hack issue, whereas my fiat currency to bitcoin exchange that I use locally literally has 22 bitcoin daily volume, they are really small and I still like them.

AjithBtc

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Quote from: OrangeSeller on May 17, 2019, 05:56:18 AM

Quote from: Whosdaddy on May 15, 2019, 03:10:50 AM

Quote from: South Park on May 14, 2019, 12:04:19 PM

Quote from: Reid on May 10, 2019, 05:35:42 PM

Security will always be at the top. No doubt about that and same with the answers of legitimate users here.
For me, next thing will be the user friendliness of the application.
Binance is one of the easy to use application and also they added an Android OS version which is and excellent move.

We are in an era now where every human being is holding a smartphone anywhere. With their android app it gets easier to see your trade wherever you are. Just needs some safety precautions to avoid damages.

Security must be at the top of any list but most of the time that is not the case, many traders are only looking for an exchange with huge volume but as we known exchanges have been know to fake their volume with bots, so I also think that one of the most important factors when it comes to selecting an exchange is to look at the reputation of the owners and their previous actions in the market to see if they are honest, if they are not then you should never put your money in their exchange.

Security is good to put first, but volume matters too, because with all the security Binance has, they were still subject to hacking which took so much off their purse. At least with volume, one can quickly get into a trade and out.

For this security issue, no exchange can perfectly guarantee security 100%, they have already advised most people leaving their money on an exchange never to do so as security of a token can only be guaranteed by the token holder using a reliable wallet with private keys that only he can have access to. So volume matter to me a lot, provided they are genuine volume which one can detect easily even if they use BOT.

After Binance got hacked, the first factor that I will keep in my mind before selecting a digital exchange would be the security of the exchange. How secure the exchange is. Having said that, I would never go for an exchange that is not the best because I not very best exchange would be very prone towards more risks as compared to the best one. Binance still continues to be the best exchange.

However you examine you cannot segregate this is best and that is not, have anyone thought that Binance will get hacked. It happened, this is how exchanges were. When something gets value the people in search of the same keeps growing and some try to get it in a easier way using the brain to breach. Even after this hack I prefer Binance, because it took responsibility and mentioned to provide funds from reserve which none of the other exchanges will do.

airdagon

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I think the key is security, convenience and costs in trading, I see the exchanger you mentioned earlier fulfills the factors I mentioned earlier

OrangeSeller

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Quote from: Whosdaddy on May 15, 2019, 03:10:50 AM

Quote from: South Park on May 14, 2019, 12:04:19 PM

Quote from: Reid on May 10, 2019, 05:35:42 PM

Security will always be at the top. No doubt about that and same with the answers of legitimate users here.
For me, next thing will be the user friendliness of the application.
Binance is one of the easy to use application and also they added an Android OS version which is and excellent move.

We are in an era now where every human being is holding a smartphone anywhere. With their android app it gets easier to see your trade wherever you are. Just needs some safety precautions to avoid damages.

Security must be at the top of any list but most of the time that is not the case, many traders are only looking for an exchange with huge volume but as we known exchanges have been know to fake their volume with bots, so I also think that one of the most important factors when it comes to selecting an exchange is to look at the reputation of the owners and their previous actions in the market to see if they are honest, if they are not then you should never put your money in their exchange.

Security is good to put first, but volume matters too, because with all the security Binance has, they were still subject to hacking which took so much off their purse. At least with volume, one can quickly get into a trade and out.

For this security issue, no exchange can perfectly guarantee security 100%, they have already advised most people leaving their money on an exchange never to do so as security of a token can only be guaranteed by the token holder using a reliable wallet with private keys that only he can have access to. So volume matter to me a lot, provided they are genuine volume which one can detect easily even if they use BOT.

After Binance got hacked, the first factor that I will keep in my mind before selecting a digital exchange would be the security of the exchange. How secure the exchange is. Having said that, I would never go for an exchange that is not the best because I not very best exchange would be very prone towards more risks as compared to the best one. Binance still continues to be the best exchange.

MintCondition

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Quote from: omonuyak on May 16, 2019, 05:00:05 AM

The volatility in the cryptocurrencies market create an opportunity for traders to make money and that makes it better to me compared to other trading assets like forex market, stocks market and commodities market. It is new and manipulation is allowed for now because it is not regulated.

In terms of trading platforms, the good thing about crypto is it's decentralised and we can trade anytime, anywhere, we can have some shares or token from different countries, other markets limit us in time as well minimal investment option.

omonuyak

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The volatility in the cryptocurrencies market create an opportunity for traders to make money and that makes it better to me compared to other trading assets like forex market, stocks market and commodities market. It is new and manipulation is allowed for now because it is not regulated.

GregH37

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Quote from: rima valen on May 15, 2019, 09:02:50 AM

the reason I am very simple I really like to trade in binance, bitrex, coinbese, because they have a good trading system and are admitted to all cryptocurency exchanges, that's all I like and more importantly the security system is very good

Binance will always be the best choice of exchange to me, I am this type that loves making money with little, although I don’t allow it get to the point where by it becomes unrealistic, so I go after an exchange that will not take too much from my trading fund because of fee and reduce my profit capacity.

I think Binance will always still remain the best to me in this regards, low trading and exchange fee enables me to make more money from them, although I have not really tied some of the exchanges you mentioned earlier, but I think I have heard some great things about them, not really interested in them now as I have found satisfaction with Binance.

qmclak

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"Trade with profit"

I like binance, first don't have to kyc just to withdraw few amount of money ,compare to other exchange they ask all stuff like utility bills, bank statements, and passports. They should have limits atleast we dnt have to do KYC. Thats why traders use binance too.

Al-e_x

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Many things that affect the success of exchange include of course security, trading fees and easy to use, in my opinion this is a factor that influences the success of exchanger

dat.ho12492

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Quote from: rima valen on May 15, 2019, 09:02:50 AM

the reason I am very simple I really like to trade in binance, bitrex, coinbese, because they have a good trading system and are admitted to all cryptocurency exchanges, that's all I like and more importantly the security system is very good

The security and coverage of these reputable exchanges is always highly appreciated and of course this is always a criterion that people need to know to decide whether they should participate in or not participate in these exchanges. However, I will give more love to binance because their reputation is too good and they are always a source of inspiration for all investors, they always provide a new trend, a market with many opportunities for investors, joining with binance will have many opportunities to make money.

rima valen

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the reason I am very simple I really like to trade in binance, bitrex, coinbese, because they have a good trading system and are admitted to all cryptocurency exchanges, that's all I like and more importantly the security system is very good

Whosdaddy

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Quote from: South Park on May 14, 2019, 12:04:19 PM

Quote from: Reid on May 10, 2019, 05:35:42 PM

Security will always be at the top. No doubt about that and same with the answers of legitimate users here.
For me, next thing will be the user friendliness of the application.
Binance is one of the easy to use application and also they added an Android OS version which is and excellent move.

We are in an era now where every human being is holding a smartphone anywhere. With their android app it gets easier to see your trade wherever you are. Just needs some safety precautions to avoid damages.

Security must be at the top of any list but most of the time that is not the case, many traders are only looking for an exchange with huge volume but as we known exchanges have been know to fake their volume with bots, so I also think that one of the most important factors when it comes to selecting an exchange is to look at the reputation of the owners and their previous actions in the market to see if they are honest, if they are not then you should never put your money in their exchange.

Security is good to put first, but volume matters too, because with all the security Binance has, they were still subject to hacking which took so much off their purse. At least with volume, one can quickly get into a trade and out.

For this security issue, no exchange can perfectly guarantee security 100%, they have already advised most people leaving their money on an exchange never to do so as security of a token can only be guaranteed by the token holder using a reliable wallet with private keys that only he can have access to. So volume matter to me a lot, provided they are genuine volume which one can detect easily even if they use BOT.

South Park

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I am terrible at Fantasy Football!!!

Quote from: Reid on May 10, 2019, 05:35:42 PM

Security will always be at the top. No doubt about that and same with the answers of legitimate users here.
For me, next thing will be the user friendliness of the application.
Binance is one of the easy to use application and also they added an Android OS version which is and excellent move.

We are in an era now where every human being is holding a smartphone anywhere. With their android app it gets easier to see your trade wherever you are. Just needs some safety precautions to avoid damages.

Security must be at the top of any list but most of the time that is not the case, many traders are only looking for an exchange with huge volume but as we known exchanges have been know to fake their volume with bots, so I also think that one of the most important factors when it comes to selecting an exchange is to look at the reputation of the owners and their previous actions in the market to see if they are honest, if they are not then you should never put your money in their exchange.

JNvak

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Well, now all the posts about Binance's security didn't age well Sad

If it comes to security, my pick would be CoinDeal, since it has great protocols.
https://coindeal.com/security

superscommessebitcoin

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Some were some of the first exchanges that appeared in kryptomere, some just have a very convenient interface, like Binance. These and many other reasons make such exchanges pleasant to trade. They all have their chips, which traders like.

malikusama

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Quote from: jessicalea on April 25, 2019, 08:00:55 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?

According to my perspective the key and prominent reasons behind the success of top cryptocurrencies exchanges that you have stated are :

1. Security.
2. User friendly Interface.
3. Good technical and financial support
4. Good management.

Oceat

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People choose them because they have what other exchanges don't. Like quick response of the support, easy withdrawal/deposit without hassle, only ask KYC if you pass the limit of withdrawal and deposit. And most especially in Binance their CEO is taking a serious action if there is something wrong in their system. That's what people like, they know how to handle their customers.

Shenzou

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Quote from: jessicalea on April 25, 2019, 08:00:55 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?

To be honest all of these exchanges are just one of the original ones, and have been in the market for quite sometime, and currently there are more exchanges than we can handle and it is hard to tell the real one from the fake one as there have been many scams, so it is just better to go with the most trusted ones and the ones that already reliable, and if someone were to make an exchange website these days they would have to offer something new and interesting in order to compete with the other ones.

kaya11

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Some exchanges are almost the same and it is hardly to specify what is unique between them. So I basically trade with exchanges that are rated by most users. They are most likely experience than us so it is better to take their advise and ratings between the exchanges. But if I were to choose the factor that considers me trading on an exchange is that their customer support. If the team is very reliable in trouble shooting assistance then they would be and edge for me to rate them a good exchange.

d1ceplayer

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Quote from: dunfida on May 09, 2019, 02:52:01 PM

Quote from: jessicalea on April 25, 2019, 08:00:55 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?

When we do talk about factors on why these exchangers do succeed out on getting some marketshare or most of it then it would be;

-Their service, giving out the best which they do able to cater with their users needs. UI+Good support+Reasonable trading fees+ Consistent good performance.

Indeed true. Those who become the finest exchanges in the market right now which have been providing the best service since from the beginning to till now. Also, they use many different strategies to promote the project on various platforms. As we can see many good exchanges gives a discount of tracing fees to gaining users.

They always work hard on exchanges and keep themselves up to date as per the time market chances. Their main factor is security to gain users attention towards the platform. They never compromised with the security of exchange and that's the reason enough to beat the competitors.

Whosdaddy

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Quote from: jessicalea on April 25, 2019, 08:00:55 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?

While trade the traders have seen many things before starting the trade on the exchange. Traders look about the exchange reputation, security, volume a many more thing which gives a clear indication about the exchange. Volume and security are the most important factors and traders have a focus on these factors to find a better exchange.

As well now many good exchanges providing a user-friendly experience on their sites and now most of them have their own Application to provide amazing experience on the smartphone too. So the exchange who provide great service, security, and other good features can become able to attract users towards it. Because this is what a trader needs to look before doing trading.

neonshium

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Quote from: semobo on May 10, 2019, 11:13:47 AM

Quote from: Ararbermas on May 10, 2019, 10:41:45 AM

Quote from: jessicalea on April 25, 2019, 08:00:55 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?

it's because of being so reliable and very provably fair sites which common reason more ppl still make comparison about it. Actually those sites was very secured which no problem to stock money , and the good things " kyc " doesn't exist on each of that site you've mentioned above .lol

Binance already faced a security breach and the no KYC is for lower daily limits.But they have better customer support than other exchanges which made them to be top crypto exchanges.

They have more costumer support because they are great exchange. See the people who lost their coins due to the hack would be compensated by the exchange and this is something very rare. Had this hack happened to another exchange, they would not have made it so high again. Though there are still security concerns, there are still hug users on the exchange.

Reid

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Security will always be at the top. No doubt about that and same with the answers of legitimate users here.
For me, next thing will be the user friendliness of the application.
Binance is one of the easy to use application and also they added an Android OS version which is and excellent move.

We are in an era now where every human being is holding a smartphone anywhere. With their android app it gets easier to see your trade wherever you are. Just needs some safety precautions to avoid damages.

semobo

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Quote from: Ararbermas on May 10, 2019, 10:41:45 AM

Quote from: jessicalea on April 25, 2019, 08:00:55 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?

it's because of being so reliable and very provably fair sites which common reason more ppl still make comparison about it. Actually those sites was very secured which no problem to stock money , and the good things " kyc " doesn't exist on each of that site you've mentioned above .lol

Binance already faced a security breach and the no KYC is for lower daily limits.But they have better customer support than other exchanges which made them to be top crypto exchanges.

SirLancelot

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Quote from: South Park on May 09, 2019, 11:48:12 AM

Quote from: guoyu78 on May 08, 2019, 04:48:40 AM

Quote from: jessicalea on April 25, 2019, 08:00:55 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?

The whole exchanges you have mentioned are all good exchanges. As for the main thing that makes an exchange a reliable choice, I believe security is the number one thing that matters most. Security is very important, cause there are exchanges that are not secured and they are the ones that keeps getting hacked here and there and users losing their hard earned money.

So you should avoid any exchange that doesn't have enough security, if you don't want to fall victim. Second important thing is their customer support, followed by how good their site is.

The problem is that no centralized exchange is secure, binance was hacked recently and they lost more than 40 million in assets to hackers, while the amount is small compared to the amount of money exchanges manage, it is a huge hit to the trust of that exchange since it is impossible to know if this is going to happen again, so while binance and many other exchanges are good we really need decentralized exchanges so hackers cannot get those huge amounts of money in a single hack.

Even binance is one of the decentralized exchange I guess. There are peoples who active trade on binance and also store specific amount of funds into those wallets. If these kind of exchanges are been hacked then most of the community would be confused whom to trust about the security of their funds. Exchanges needs to be more secure and should try to maximize their security. The current hack was due to the 2FA authentication perhaps.

I have not yet read any sure shot news about the same but can expect soon so that we can know how exactly it happened. These exchanges should be trustworthy and I think that they would surely make some great moves now.

Ararbermas

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Quote from: jessicalea on April 25, 2019, 08:00:55 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?

it's because of being so reliable and very provably fair sites which common reason more ppl still make comparison about it. Actually those sites was very secured which no problem to stock money , and the good things " kyc " doesn't exist on each of that site you've mentioned above .lol

Osarman

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Quote from: jessicalea on April 25, 2019, 08:00:55 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?

If we similarly start comparing, there would be a tons of advantages behind why peoples choose decentralized trading over centralized trading. Peoples find their profits in here by investing in some highly active coin to make their profits turn the graphs in front of their eyes. Also investing into something which has high volatility then the centralized currency makes the decentralized currency more popular to trade into.

Also there are a thousands of coins which gives us plenty of options to invest our funds proportionally in various coins to make higher profits. The trading volume matter according to me and these exchanges may perhaps be in competition because of the trading volume.

dunfida

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Quote from: jessicalea on April 25, 2019, 08:00:55 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?

When we do talk about factors on why these exchangers do succeed out on getting some marketshare or most of it then it would be;

-Their service, giving out the best which they do able to cater with their users needs. UI+Good support+Reasonable trading fees+ Consistent good performance.

greenclub09

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BBOD - The Best Crypto Derivatives Exchange

to my opinion, when a new exchange is released the important thing we care about is how much advanced the exchange is and where it is released for us to use it to bring back more investors to the exchange, the final factor is the community supporting it if the have a good developers and huge amount of people promoting it to the world.

South Park

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Quote from: guoyu78 on May 08, 2019, 04:48:40 AM

Quote from: jessicalea on April 25, 2019, 08:00:55 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?

The whole exchanges you have mentioned are all good exchanges. As for the main thing that makes an exchange a reliable choice, I believe security is the number one thing that matters most. Security is very important, cause there are exchanges that are not secured and they are the ones that keeps getting hacked here and there and users losing their hard earned money.

So you should avoid any exchange that doesn't have enough security, if you don't want to fall victim. Second important thing is their customer support, followed by how good their site is.

The problem is that no centralized exchange is secure, binance was hacked recently and they lost more than 40 million in assets to hackers, while the amount is small compared to the amount of money exchanges manage, it is a huge hit to the trust of that exchange since it is impossible to know if this is going to happen again, so while binance and many other exchanges are good we really need decentralized exchanges so hackers cannot get those huge amounts of money in a single hack.

jrrsparkles

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Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: guoyu78 on May 08, 2019, 04:48:40 AM

Quote from: jessicalea on April 25, 2019, 08:00:55 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?

The whole exchanges you have mentioned are all good exchanges. As for the main thing that makes an exchange a reliable choice, I believe security is the number one thing that matters most. Security is very important, cause there are exchanges that are not secured and they are the ones that keeps getting hacked here and there and users losing their hard earned money.

So you should avoid any exchange that doesn't have enough security, if you don't want to fall victim. Second important thing is their customer support, followed by how good their site is.

Binance faced a security breach few days beck but they said all the user funds will be refunded so which makes the iance as better exchange among the other who never update anything about the hack and also don't give any refund for the lost funds.

jessicalea

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Do you think integrating custodial services (like BitGo) into crypto trading platform is best for traders?

Whaleagent

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Security, actually If I wanted to open exchange I would take a closer look at Binance and Bittrex. They have the best Security out there.

TravelMug

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Quote from: Pattart on May 08, 2019, 04:46:23 AM

Quote from: leowonderful on April 25, 2019, 08:54:27 AM

I like to trade on Binance because the site doesn’t require me to verify my account to start trading, unlike many other major exchanges, and the exchange also has a decent Android app that I use to make a few trades on the go. Nothing extremely noteworthy besides that, as the desktop UI for the site is pretty average, but no verification alone is excellent and that’s the main reason why I use Binance so often.

I think many exchanges do not require verification of data, but of course the facilities you will get will be limited, for example if you do not do KYC then there is a limit for withdrawal. but as long as you transact below the limit, you don't need KYC.
what I choose in Exchange site is that they have fast response customer support and have high responsibility of every problem

Of course your have limited withdrawals, but for casuals who don't trade that much, Binance will be a good place to start. However, we heard it was hacked lately, so I'm sure this could be another factor to look at in the future.

Yes, customer support is one thing to look at as well, remember Yobit who has so many complains about it's poor customer service? and that is why they are one of the most hated trading platforms. UI is almost the same for all exchanges, so that is a non-factor for me.

guoyu78

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Quote from: jessicalea on April 25, 2019, 08:00:55 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?

The whole exchanges you have mentioned are all good exchanges. As for the main thing that makes an exchange a reliable choice, I believe security is the number one thing that matters most. Security is very important, cause there are exchanges that are not secured and they are the ones that keeps getting hacked here and there and users losing their hard earned money.

So you should avoid any exchange that doesn't have enough security, if you don't want to fall victim. Second important thing is their customer support, followed by how good their site is.

Pattart

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Quote from: leowonderful on April 25, 2019, 08:54:27 AM

I like to trade on Binance because the site doesn’t require me to verify my account to start trading, unlike many other major exchanges, and the exchange also has a decent Android app that I use to make a few trades on the go. Nothing extremely noteworthy besides that, as the desktop UI for the site is pretty average, but no verification alone is excellent and that’s the main reason why I use Binance so often.

I think many exchanges do not require verification of data, but of course the facilities you will get will be limited, for example if you do not do KYC then there is a limit for withdrawal. but as long as you transact below the limit, you don't need KYC.
what I choose in Exchange site is that they have fast response customer support and have high responsibility of every problem

OrangeSeller

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Quote from: bonker on May 07, 2019, 10:13:01 AM

Quote from: jessicalea on April 25, 2019, 08:00:55 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?

Most reputed exchanges got more trading pairs and better customer support this makes more people to prefer these exchanges.

I have always believed on how high the demand of an exchange is. The higher the demand for an exchange or the higher the number of users on an exchange, the higher the possibilities for you to make money with it. In addition, you should look into the security of the exchange as well and see if it is good enough to protect your investment. These factors determine if an exchange is good.

bonker

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Quote from: jessicalea on April 25, 2019, 08:00:55 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?

Most reputed exchanges got more trading pairs and better customer support this makes more people to prefer these exchanges.

BeGoods

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Quote from: bitbunnny on April 26, 2019, 01:36:50 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.

I will not see the unique of an exchange for using that, I will see the security first, the level of trust in the exchange site,
and who is behind the exchange. there are many exchanges being a scam, and we have to be more careful in choosing

Vispilio

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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.

BlackPanda

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Quote from: jessicalea on April 25, 2019, 08:00:55 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.

ricardobs

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Quote from: jessicalea on May 06, 2019, 07:37:22 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.

bitcoin31

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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.

jessicalea

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How gaining high returns from bitcoin fund investment is a win-win situation for traders?

SirLancelot

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Quote from: jessicalea on April 25, 2019, 08:00:55 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.

rodel caling

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Quote from: mk4 on April 25, 2019, 09:07:42 AM

I don't think it's the case of these exchanges having one "unique" factor. It's mostly a mixture of a few things:

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.

dominos

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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.

Harlot

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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

klaaas

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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.

rosezionjohn

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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.

whirlcoin

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Quote from: jessicalea on April 25, 2019, 08:00:55 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?

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.

blockchainwriters

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Binance trading is far more futuristic and more secured trading compare to all trading platforms i prefer binance

Whosdaddy

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Quote from: jessicalea on April 25, 2019, 08:00:55 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?

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.

The Sceptical Chymist

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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.

bitbunnny

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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.

dothebeats

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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.

Genemind

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Quote from: jessicalea on April 25, 2019, 08:00:55 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?

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.

el kaka22

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Quote from: jessicalea on April 25, 2019, 08:00:55 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.

jessicalea

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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?

LimLims

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1xbit.com

Quote from: [btc]YSG on April 25, 2019, 10:19:34 AM

Quote from: LimLims on April 25, 2019, 09:35:46 AM

Features like fast deposits and withdraws along with less fees for doing the both are the most dependable ones.
Also the user interface of the exchange means a lot for the traders.
Hope you understand now.

In addition this features, I also look for exchanges that has no restriction for users in certain countries and there is an allowed withdrawal process without the need of KYC Verification.

Yeah i forgot to mentioned that also lol.
But to be honest, i can see most of the exchanges are available in many countries. I mean they do have restrictions in some underdeveloped countries.
But they are trying their Best to make their exchanges available in all places.
This is no doubt an exclusive feature of a popular exhcnage.

akram143

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Quote from: jessicalea on April 25, 2019, 08:00:55 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?

when we are the success from the other people to get success in trading then it will make the tune in our mind to enter into this and the good exchanges always giving the confidence about trading this is the main point that I start trading job.

rizkyhiw

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Activity: 1484

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As far as I trade and only use it has its own advantages where security is very strict and without having to provide personal data to them to be able to trade comfortably, it's just that there are limits that can determine KYC for everyone, I personally prefer Binance on every day of use because I thought it was comfortable with myself and not complicated for me, the success they achieved was that they built a very good and right team where they were very good at utilizing any situation with the most important extraordinary promotions they could maintain all their users and always consistent that's the basis of success.

moynul2050

sr. member

Activity: 812

Merit: 250

some of my interest in an exchanger is,
Security, where they guarantee the security of assets that I have with several security features.
Easy to use and easy to understand, (friendly to users)
easy to make a deposit or WD
Can be used in various hardware, such as PCs, tablets or smartphones.
Fast trading and a large volume of sales.
that's one of my interests in choosing an exchanger.

andymarker

newbie

Activity: 57

Merit: 0

Hello Everyone!

I am a frequent crypto trader and I have used numerous exchanges to trade multiple coins. According to me there are certain factors which make an exchange reliable, such as:
1. KYC should only be used for huge transactions
2. Trading bots
3. Reliable and Secure App
4. Coin recovery
5. Easy deposit and withdrawals
6. Easy payment modes like- buy crypto with credit or debit card or via other cryptocurrencies

Recently I have trade with BitBNS, Binance, and ZedXe and I found them very reliable. I hope the information will help you out for searching the best and reliable crypto exchange.

sujonali1819

legendary

Activity: 2436

Merit: 1189

Need Campaign Manager?PM on telegram @sujonali1819

I think exchanges mentioned by on the OP are more popular today not only for a unique feature. Because most of the exchanges feature is similar but A popular exchanges feature is more strong than others. such as:-

1. Security [ all exchange has security but not like binance, bittrex,coinbase / popular exchanges]
2. Volume [ Many exchange use bot for increasing 24 hours volume but the popular exchange has real volume]
3. Liquidity [ Most of the exchange is now lack of liquidity except some large exchange ]
4. Transaction speed [ Obviously a large exchange have criteria of fast deposit and withdrawal speed.]
4. Design and browsing speed [ Design and browsing speed will be good of a popular exchange ]
5. Mobile application [ Now many people find a user-friendly mobile application for trading when out of the home. And most of the popular exchange has the feature IMO.]

Haunebu

hero member

Activity: 3178

Merit: 977

www.Crypto.Games: Multiple coins, multiple games

Among the exchanges that you mentioned, Binance is my favorite primarily due to the no KYC requirement when compared to other exchanges. Some exchanges actually take months to approve your KYC.

You should have mentioned LocalBitcoins too which is an excellent P2P platform and also does not require KYC majority of the time.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: leowonderful on April 25, 2019, 08:54:27 AM

I like to trade on Binance because the site doesn’t require me to verify my account to start trading, unlike many other major exchanges, and the exchange also has a decent Android app that I use to make a few trades on the go. Nothing extremely noteworthy besides that, as the desktop UI for the site is pretty average, but no verification alone is excellent and that’s the main reason why I use Binance so often.

Correct, as far as I know their minimum withdrawal is 2 BTC without any KYC so for mid-level traders, that is a win-win. Plus Binance is known for having a good security, they are immediately alarm is something trading looks fishy and investigate if there is a potential hack, and this one, Binance Foils Cryptopia Hacker by Freezing Stolen Crypto and ‘All Funds Are Safe’: Binance Denies Crypto Hack Rumors. So security is one and for me this is the most important factor that can make or break an exchange.

[btc]YSG

jr. member

Activity: 238

Merit: 3

Quote from: LimLims on April 25, 2019, 09:35:46 AM

Features like fast deposits and withdraws along with less fees for doing the both are the most dependable ones.
Also the user interface of the exchange means a lot for the traders.
Hope you understand now.

In addition this features, I also look for exchanges that has no restriction for users in certain countries and there is an allowed withdrawal process without the need of KYC Verification.

Gozie51

hero member

Activity: 2660

Merit: 630

Vave.com - Crypto Casino

Quote from: LimLims on April 25, 2019, 09:35:46 AM

Features like fast deposits and withdraws along with less fees for doing the both are the most dependable ones.
Hope you understand now.

Yes before I use any exchange for trade, I try as much to know the withdrawal process, if they have any limitation amount for withdrawal. Fast withdrawal is far more important for me than fast deposit Cheesy

BitHodler

legendary

Activity: 1526

Merit: 1179

I prefer to avoid exchanges without a trackrecord of solidity. Coinbase is such an exchange, Bitstamp and Kraken. These are the main exchanges I would recommend people around me to use.

Below these exchanges you have Binance, and below Binance there isn't anything else for me to recommend. The gap between Binance and everything below it is similar to the distance between earth and mars.

I would say that Binance being soft on KYC makes it the most popular exchange, but I honestly don't know how much longer they can keep this up with regulators slowly but surely waking up.

LimLims

sr. member

Activity: 1204

Merit: 272

1xbit.com

Quote from: jessicalea on April 25, 2019, 08:00:55 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?

First of all i want to ask you that, for what you need to know about it? Okay let us consider you need to trade your coins there? Okay so here to the community.
There are many features that all the exchanges provide also there are some unique features which make them completely different from each other.
Features like fast deposits and withdraws along with less fees for doing the both are the most dependable ones.
Also the user interface of the exchange means a lot for the traders.
Hope you understand now.

Bitinity

legendary

Activity: 3066

Merit: 1312

Frankly speaking, I do not use those mentioned sites regularly as I'm not an active trader. I used to use Bitrex long time ago but I do not use it anymore since they blocked many accounts few years ago and my account is one of the blocked account.
Currently I use local exchange only for trading purpose although the available markets is not that much compared to other exchange site but I feel more comfortable than using other exchanges. I used binance sometime ago because my friend recommended it to me and I can say binance is a great exchange. Starting from its UI, its feature, and its support, those are the keys for success of exchange imho.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

I don't think it's the case of these exchanges having one "unique" factor. It's mostly a mixture of a few things:

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).

leowonderful

legendary

Activity: 1624

Merit: 1130

Bitcoin FTW!

I like to trade on Binance because the site doesn’t require me to verify my account to start trading, unlike many other major exchanges, and the exchange also has a decent Android app that I use to make a few trades on the go. Nothing extremely noteworthy besides that, as the desktop UI for the site is pretty average, but no verification alone is excellent and that’s the main reason why I use Binance so often.

jessicalea

newbie

Activity: 22

Merit: 0

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?

Topic: Which unique factor makes crypto exchange a reliable choice to start trading? (Read 882 times)