Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
bitserve
on 17/12/2018, 03:32:49 UTC

....So, during the bear market, employ your time opening accounts in as many exchanges as you can, verify as needed, learn their UI, etc... During a bull market things happen very fast, and chances are that you won't be able to use that exchange you need to trade some fork/altcoin or use for fiat withdrawal if you have not done your homework well in advance.....




This is great advice.

The bear market will be long and tough to endure, and this is just the sort of work that will be making progress, instead of anxiously watching falling or stagnant prices.

Verification can often be a long process. It is also useful to be familiar with the rules of the exchanges and businesses you deal with.


Yup, and during a bull run is way longer if they are not simply collapsed. Also, for withdrawals, it is also useful THEY know you. And the best for that is having made some deposit to them in the past (and what better moment to do that than in a bear market?).

Exchanges do not like people coming out of nowhere and pretending to withdraw huge amounts of money.



Yea, that is good advice for someone starting out. Bear markets are good for getting your infrastructure set up with exchanges etc. I sold some btc back in the first quarter and I had to go through a whole process explaining where it came from. Everything worked out fine , but definitely take advantage of this time to get set up.

I would appreciate advice on what sort of proofs/documents did they request you to "explain where it came from". It might get handy to get them all ready in advance.