Over the last one decade, cryptocurrency exchanges have played a huge role in making adoption, trading and storing of assets accessible to users. While there have been pockets of challenges, significant successes have also been recorded. Of course, it's normal for an evolving industry to have some shake-ups before getting the records straight but what is important is what the players are doing to ensure stability of the industry.

In the course of my crypto journey, I have discovered that the primary things users look out for before choosing an exchange are: trading fees, available trading pairs, user interface, security measures, customer support e.t.c but with the recent realities emerging from the shocking collapse of FTX, the recent closure of Bittrex, Binance saga with SEC and the lawsuit against Kraken, it's important for investors to note that the listed factors above aren't enough in choosing a CEX if the investors want to have peace of mind over there assets. What then must users consider in addition to the above factors.

1. User protection fund: This is a fund set aside to reimburse users for losses or damages resulting from certain activities or transactions.

2. Proof of reserve: proof of reserve has become one of the major yardstick to test the integrity of an exchange. This mechanism is what gives users assurance that an exchange do actually own crypto assets they claim to have in there custody. It's also important for users to check if the wallet address of this PoR is made public.

3. Compliance to regulations: Whether we like it or not, it has become imperative for exchanges to comply with certain regulations. Of course many will claim that crypto is meant to be decentralized. No doubt about that but it's not funny when an exchange just announced bankruptcy overnight leaving investors in shambles, regulations can cub this kind of uncertainty hence it is important to consider this. All this and many more like partnership with world class brands and personalities who wouldn't want their names to be soiled are what to consider when choosing a crypto exchange.

The question now is do we have exchanges with all this qualities? Let's discuss.

PalazoGiggy:
Over the last one decade, cryptocurrency exchanges have played a huge role in making adoption, trading and storing of assets accessible to users. While there have been pockets of challenges, significant successes have also been recorded. Of course, it's normal for an evolving industry to have some shake-ups before getting the records straight but what is important is what the players are doing to ensure stability of the industry.

In the course of my crypto journey, I have discovered that the primary things users look out for before choosing an exchange are: trading fees, available trading pairs, user interface, security measures, customer support e.t.c but with the recent realities emerging from the shocking collapse of FTX, the recent closure of Bittrex, Binance saga with SEC and the lawsuit against Kraken, it's important for investors to note that the listed factors above aren't enough in choosing a CEX if the investors want to have peace of mind over there assets. What then must users consider in addition to the above factors.

1. User protection fund: This is a fund set aside to reimburse users for losses or damages resulting from certain activities or transactions.

2. Proof of reserve: proof of reserve has become one of the major yardstick to test the integrity of an exchange. This mechanism is what gives users assurance that an exchange do actually own crypto assets they claim to have in there custody. It's also important for users to check if the wallet address of this PoR is made public.

3. Compliance to regulations: Whether we like it or not, it has become imperative for exchanges to comply with certain regulations. Of course many will claim that crypto is meant to be decentralized. No doubt about that but it's not funny when an exchange just announced bankruptcy overnight leaving investors in shambles, regulations can cub this kind of uncertainty hence it is important to consider this. All this and many more like partnership with world class brands and personalities who wouldn't want their names to be soiled are what to consider when choosing a crypto exchange.

The question now is do we have exchanges with all this qualities? Let's discuss.

OP, this life is not hard and don't make things complicated for yourself, all these exchanges know the drill some of them just chose go play with fire and they got burnt, please tell me why Binance will deliberately choose not to do what they should have done or why FTX choose not to be careful with how they manage their assets. I believe if other exchanges like Bitget and the likes are still operational in places where others couldn't survive, then I'd say the management is to be looked into.

As for me, I always keep my eyes on the news to know when to take a run and not get caught.
Please any update from your side? Let's make this forum interesting and push it to the front.

Yeah, I agree with you. On the positive side, the industry is undergoing a cleanup. There shouldn't be a co-mingling of funds, and that should make the remaining CEXs much stronger. There are also several reliable CEXs run by individuals with much more integrity than him. They aim to enhance the positive aspects of the industry, not just amass wealth for themselves but to contribute to improving the world. In this regard, Gracy Chan has been at the forefront.