The Long Term Pedigree Of Exchanges As A Step To Success.

[MetaAttorney]

Through my stay in the crypto space, I've figured one of the prerequisites to choosing a preferred and secure platform for trading is looking out for a platform that has long term pedigree.

CEXs that have been offering service and products for a long time are often the preferred choice. A couple of platforms just exited my country and I'm looking out for good exchanges that fit this criteria.

I'll really appreciate a few recommendations.

[hugeblack]

Reputation comes from liquidity, high trading volumes and problem solving by the support team, so you should check the latest reviews, especially if they are negative, because they may indicate that the platform has become worse than before or has started to turn into a scam.

[Z-tight]

I'll really appreciate a few recommendations.

You will have to tell us which country you are from, so we will be able to give you recommendations of exchanges that offer their services in your country.

It is always better to use exchanges that have been in the industry for a very long time, rather than new exchanges, and there are a lot of older exchnages that you can find for yourself.

[Aanuoluwatofunmi]

Through my stay in the crypto space, I've figured one of the prerequisites to choosing a preferred and secure platform for trading is looking out for a platform that has long term pedigree.

CEXs that have been offering service and products for a long time are often the preferred choice. A couple of platforms just exited my country and I'm looking out for good exchanges that fit this criteria.

I'll really appreciate a few recommendations.

Base on my own view, i think its more appropriate that we should not only focus on how long the existence of an exchange is, instead we can have some addition criterial in choosing them, we may look at their consistencies, their trust pilot and online reviews, their developers, license and many other legal documentations that may be required, all these will be part of what we are going to work on before choosing one.

[hugeblack]

Base on my own view, i think its more appropriate that we should not only focus on how long the existence of an exchange is, instead we can have some addition criterial in choosing them, we may look at their consistencies, their trust pilot and online reviews, their developers, license and many other legal documentations that may be required, all these will be part of what we are going to work on before choosing one.

The duration of the platform’s existence may be a factor in avoiding it if the platform is not growing. A platform that has been operating since 2017 and does not continue to grow or is among the platforms with high liquidity is a platform that is closer to becoming a fraud or being closed than a platform that is one or two years old.

[Aanuoluwatofunmi]

All that we may be open to for discussion regarding exchanges are things that are going to be of help to them at long run and not the best for their users because sooner or later, everyone will be shifting from the use of an exchange to a non custodial means of storage and in this, there may not be any future or long term success with it, except for those that have been trading on them for long.

[|MINER|]

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Crypto exchanges are definitely not good for long term investment. Because they are mostly outside the rules and regulations of most countries. And if we see most of the exchanges don't have their Proof of reserve. And if we look at the FTX exchanger incident that happened in the past, then we must remember how safe the crypto exchanger is for our funds.
I think if you want to do crypto investment in crypto exchangers, the investment should be for a short period of time. And at the same time I will say that it will be much better to deposit funds in the government bank than to choose crypto exchanges for a long time.

[hugeblack]

All that we may be open to for discussion regarding exchanges are things that are going to be of help to them at long run and not the best for their users because sooner or later, everyone will be shifting from the use of an exchange to a non custodial means of storage and in this, there may not be any future or long term success with it, except for those that have been trading on them for long.

I did not understand, using non-custodial wallets will not harm the platforms in any way, as there are still users who deposit, the platform collects trading fees and withdrawal fees, so even if there are no users who leave their money on the platform for a long time, this does not mean that the platforms will go bankrupt or will not find a source of income, on the contrary, the platform must stay away from using customers' money as if it were its own money.

[bitterguy28]

Through my stay in the crypto space, I've figured one of the prerequisites to choosing a preferred and secure platform for trading is looking out for a platform that has long term pedigree.

CEXs that have been offering service and products for a long time are often the preferred choice. A couple of platforms just exited my country and I'm looking out for good exchanges that fit this criteria.

it certainly is safer to go for a platform that has already been around for quite a long time as it has been proven and tested already however it does not guarantee that nothing can happen it is still a centralized platform anyway and anything can happen to our funds but it is for sure safer compared to new ones without much proof of being reliable just yet

I'll really appreciate a few recommendations.

the only ones i know are good and have been a long time are coinbase and binance but i do not use cexs as much as possible i am not a trader so i do not need to be using cexs and for storing i will not use exchanges as well

[libert19]

CEXs that have been offering service and products for a long time are often the preferred choice. A couple of platforms just exited my country and I'm looking out for good exchanges that fit this criteria.

You should tell which platforms exited from your country, so comments do not repeat recommend them. Anyhow, you can try dexes and instant exchanges — these do not require kyc and works anywhere, if for whatever reason website don't open, use vpn, these are no consequences.