Post
Topic
Board Exchanges
Re: What kind of 'killer feature' would you like to see on an exchange?
by
bartertrade
on 05/07/2019, 00:32:00 UTC
i think the bolded parts are contradictory. shapeshift provides liquidity by market marking multiple altcoin exchanges. this requires centralization and trust. with a completely decentralized order book (and this technically can't be done yet in a trustless way), you won't have such clean access to liquidity. what you see is what you get.

fiat is also problematic because transacting with it at all requires trust---bank and e-wallet transfers can be reversed, accounts frozen. and the very idea of "customer support" for a DEX seems like a conflict.

in order for a DEX to be truly decentralized---and therefore safe from government pressure, meaning seizures and blocked funds aren't possible---we can't have these centralized conveniences. it needs to be 100% built on smart contracts, distributed p2p servers for decentralized order books, decentralized domain. there can't be a centralized point of failure.

we are still several years away (at least) from this sort of breakthrough IMO. i really don't know what will happen re governments in the meantime.
Boy did I not think this through enough. Fair enough on the buying crypto thing, I am a knucklehead for not thinking about it.

If my dream exchange is only gonna be in Unicorn land, then I at least ask for the original shapeshift kinda exchange to come back, it was hella convenient when you don't have to sign up and when no kyc is required.

Don't want to overact here since it's really impossible to have a perfect exchange.

Usual problems:
1) Customer Support
Minor or major problems, it should be addressed and solved within a day. The investigation should only last within a week but only on serious or major ones or much shorter if the user was able to provide all proofs. In other words, customer supports should be active 24/7 and responding quickly the moment the customer sent a ticket.

2) KYC
Don't ask too much of the details. Yes, it's mandatory since exchanges are complying with the law but not too much to the point that, National ID is given, Driver's license is given but still not passed the verification. The verification process should be done in just within a few hours.

3) The smoothness of the transaction
No more delays especially in the deposit once it was confirmed in the network. Traders want a fast phase!

Don't jump into a new feature. Instead, focus on improving the usual exchange concerns first.
This. A live chat for customer support would be even easier, and convenient.

Live chat feature we will work on which is part of our customer relationship management framework. We want to make each customer a loyal long-term customer. Based on our model, the more you utilize our platform the more monetary and non-monetary rewards you will receive. This can also mean VIP customer service if you are in the 'top tier'. Naturally others will also get high-quality customer service but we can create special treatment for our most loyal users. Let me know what you think of this new customer relationship philosophy within the crypto space.