RE: Operational Difficulties in Running a Cryptocurrency Exchange
One answer to the flaws of cryptocurrency exchanges are Decentralized exchanges. A detailed article on them will be covered in a later period.
Most, if not all, DEXs do not have enough trading pairs and also lack liquidity.
Personally, I still use traditional exchanges but do not keep my cryptos there; I withdraw them as soon as practicable, keeping it there only if I need to trade.
Things to look for in an exchange for your own security:
The exchanges should be in a jurisdiction with strict regulatory requirement;
Read through their Terms of Use;
Make sure they disclose a physical place of business on their website or TOU;
They should have a reasonable Dispute Resolution clause in their TOU and a reasonable Indemnity Clause to cover you in the event your crypcurrencies are lost whilst in the exchange.
You will be surprised with what you find!