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Question: Choose 4 (four) most influencing parameters for you, when you decide, what exchange to use for trading.
1. Crypto-favorable country of Exchange's registration - 2 (7.1%)
2. High degree of security - 5 (17.9%)
3. Fast and excellent customer support - 4 (14.3%)
4. Reliable reputation and positive clients feedbacks - 5 (17.9%)
5. The lowest fees - 4 (14.3%)
6. Ability to buy/sell at best prices - 3 (10.7%)
7. Availability of margin or/and derivatives trading - 1 (3.6%)
8. Ease of use - 4 (14.3%)
Total Voters: 6

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Author Topic: Choosing the Exchange for trade - participate in poll.  (Read 106 times)
Jekbolt
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February 13, 2018, 11:27:10 AM
 #1

Hello crypto traders!

I have drafted a topic summarizing (with your help) all types of existing and upcoming crypto exchanges: https://thebitcointalk.net/index.php?topic=2918431.0

Now, to make that information even more usable, through evaluating each type of exchange,
let's consider the primary concerns of traders (us). That info will also help current and future Exchanges to fit our (traders) needs.

By voting on that topic kindly choose 4 (four) most influencing parameters for you, when you decide, what exchange to use for trading.



Here are the list of parameters and short explanations:


1. Crypto-favorable country of Exchange's registration
Means a comparatively low risk of exchange closure by regulators.
 

2. High degree of security
Means cold storage of crypto, 2FA, perfect protection of clients private data and funds.
 

3. Fast and excellent customer support


4. Solid reputation and positive clients feedbacks


5. The lowest fees on the market
Means the lowest total cost of trading: including deposit fee, trade fees, withdrawal fee and best limits policy.


6. Ability to buy/sell at best prices
Means an abundance of trading pairs, liquidity, real-time & not-fake auctions leading to most transparent prices.


7. Availability of margin or/and derivatives trading


8. Ease of use
Means a quite simple interface of an exchange.


Vote to make the crypto world more attractive for you and newcomers!
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February 13, 2018, 11:45:13 AM
 #2

I'd say security, low fees and ease of use.
But I would  also to your list the factor of no verification needed (aka the option to stay anonymous). This is the main feature I look for when choosing an exchange.

Another feature is to have high limits (or maybe not limits at all). There are ridiculous exchanges with such low limits!

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February 13, 2018, 12:16:29 PM
 #3

I'd say security, low fees and ease of use.
But I would  also to your list the factor of no verification needed (aka the option to stay anonymous). This is the main feature I look for when choosing an exchange.

Another feature is to have high limits (or maybe not limits at all). There are ridiculous exchanges with such low limits!

it's already a norm/standard to take selfie+photo ID from a client.
Concerning the limits it's also impossible to find an exchange with no limits at all=)
Jekbolt
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February 13, 2018, 01:27:11 PM
 #4

true, even crypto-to-crypto exchanges (who don't interact with fiat money) require clients ID verification Embarrassed
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February 13, 2018, 03:24:35 PM
 #5

People like the bitfinex...but it's so hard to get account there  Embarrassed
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February 13, 2018, 05:06:47 PM
 #6

People like the bitfinex...but it's so hard to get account there  Embarrassed

try CEX - quick registration but prices on crypto (BIDS and ASKS) are higher than on other exchanges.
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February 14, 2018, 01:46:32 PM
 #7

CEX is good but have some problems with USD withdrawals
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February 15, 2018, 09:14:06 AM
 #8

but CEX is quite fast in terms of EUR deposits and withdrawals.
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February 15, 2018, 05:49:35 PM
 #9

I like Bitstamp so much  Roll Eyes
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February 15, 2018, 07:31:09 PM
 #10

I don't like ANY of the exchanges, and I have tried ALL of them. Either the fees are too high or their fees are hidden, and not obvious, which is very "scammy".  I don't mind paying fees, but within reason. I understand they are running a business and a service, but at least be UPFRONT about it, and don't try and skim off the top of my purchases. Another problem, depending on the number of transactions, it takes 10 days for money to be cleared from my checking account. I have missed many good buying opportunities because my BTC or ETH purchase was locked up in the exchanges (namely, Coinbase, Gemini, Bittstamp, Bread).  The ONLY exchange that I like so far is Binance and Kucoin. But - those are for purchasing alt coins. I can't find a decent exchange for purchasing BTC with USD. Can you?

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February 16, 2018, 12:51:31 AM
 #11

I don't like ANY of the exchanges, and I have tried ALL of them. Either the fees are too high or their fees are hidden, and not obvious, which is very "scammy".  I don't mind paying fees, but within reason. I understand they are running a business and a service, but at least be UPFRONT about it, and don't try and skim off the top of my purchases. Another problem, depending on the number of transactions, it takes 10 days for money to be cleared from my checking account. I have missed many good buying opportunities because my BTC or ETH purchase was locked up in the exchanges (namely, Coinbase, Gemini, Bittstamp, Bread).  The ONLY exchange that I like so far is Binance and Kucoin. But - those are for purchasing alt coins. I can't find a decent exchange for purchasing BTC with USD. Can you?

Try CEX but I'm not sure about USD deposit/withdrawal. I used EUR there and all was very fast. Also, take in mind that there strange prices (higher bids and asks than in other exchanges).
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February 16, 2018, 05:38:09 AM
 #12

I don't like ANY of the exchanges, and I have tried ALL of them. Either the fees are too high or their fees are hidden, and not obvious, which is very "scammy".  I don't mind paying fees, but within reason. I understand they are running a business and a service, but at least be UPFRONT about it, and don't try and skim off the top of my purchases. Another problem, depending on the number of transactions, it takes 10 days for money to be cleared from my checking account. I have missed many good buying opportunities because my BTC or ETH purchase was locked up in the exchanges (namely, Coinbase, Gemini, Bittstamp, Bread).  The ONLY exchange that I like so far is Binance and Kucoin. But - those are for purchasing alt coins. I can't find a decent exchange for purchasing BTC with USD. Can you?

This is the problem with newbies like you. You guys spend less time reading and researching and more time complaining. If you want to capitalize on a trade opportunity then it is your responsibility to have your money cleared for trade a good while before you start trading. Checking if your funding sources are legitimate and not stolen, skimmed, scammed etc can take time. If the initial verification is not done, and tomorrow your funding gets tagged as fraud, then the exchanges would be in trouble and might face ligation.

Coinbase, Gemini, Bittstamp, Blockchain, Cex, Krakken remain the best way to get your fiat transferred into Btc. Even today.

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Jekbolt
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February 16, 2018, 06:50:09 AM
 #13

I don't like ANY of the exchanges, and I have tried ALL of them. Either the fees are too high or their fees are hidden, and not obvious, which is very "scammy".  I don't mind paying fees, but within reason. I understand they are running a business and a service, but at least be UPFRONT about it, and don't try and skim off the top of my purchases. Another problem, depending on the number of transactions, it takes 10 days for money to be cleared from my checking account. I have missed many good buying opportunities because my BTC or ETH purchase was locked up in the exchanges (namely, Coinbase, Gemini, Bittstamp, Bread).  The ONLY exchange that I like so far is Binance and Kucoin. But - those are for purchasing alt coins. I can't find a decent exchange for purchasing BTC with USD. Can you?

This is the problem with newbies like you. You guys spend less time reading and researching and more time complaining. If you want to capitalize on a trade opportunity then it is your responsibility to have your money cleared for trade a good while before you start trading. Checking if your funding sources are legitimate and not stolen, skimmed, scammed etc can take time. If the initial verification is not done, and tomorrow your funding gets tagged as fraud, then the exchanges would be in trouble and might face ligation.

Coinbase, Gemini, Bittstamp, Blockchain, Cex, Krakken remain the best way to get your fiat transferred into Btc. Even today.

By the way, it can be not a fault of the exchange. For Example, If you are a resident of some 3dr world country (hate this phrase)  the banks can just refuse to transmit your money (even a corespondent bank can refuse)
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February 17, 2018, 10:02:18 AM
 #14

Coinbase drained an account of it's client: look at this shit: https://www.reddit.com/r/CoinBase/comments/7xot6y/freaking_out_coinbase_drained_my_bank_account/  Cry

The war will start between visa and coinbase-)
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February 17, 2018, 03:34:25 PM
 #15

There is another important feature which is withdrawals. I tried to withdraw IOTA from bitfinex but they did not allow me because the value of the total amount i wanted to withdraw was lower than 200 USD. HitBTC has extremely high withdrawal fees. I bought some COSS there and i wanted to withdraw, i was shocked when i saw the fees (65 COSS) 1 coss was trading around 1 USD. Hope new exchanges will take some serious steps in this direction.
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