Quote from: doomloop on Today at 09:58:42 PM

Quote from: bounceback on May 11, 2022, 12:45:15 PM

Quote from: lucifur on March 27, 2022, 03:34:41 AM

I saved up a few this month and planning to invest a part of it in trading but I'm not really sure where to start. What should I trade and I'm leaning on using binance since I am confident in using it for a year now. What can you suggest?

You have chosen the right exchange as a place to trade because Binance is one of the largest and most popular crypto exchanges today, but if you are not used to trading there then you should try spot trading first with a small capital because in my opinion doing spot trading will be easier understood by beginners.

You do not "have to" pick binance though. I suggest binance to anyone who would like to wager and there is no better place than binance and I support it and will support it until they give me a reason why I shouldn't. However, just because they are the best doesn't mean that you should use them at all times.

Like for example if I was an American citizen, I would use coinbase instead because not only you will be directly depositing from the bank and withdrawing, you will also have that chance to pay taxes with their help as well, it's nearly automatic, your accountant will have a field day versus binance. So, there are "some" reasons to pick another exchange depending on the situation.

I agree there is no need for us to always trade on Binance, we do not have to look for the best exchange in choosing an exchange. But look
for exchanges that are comfortable and safe when we use them, like the example you gave, if American maybe Coinbase is a better fit for them.
I also prefer trading on the local exchange of the country where I live, because it is easier for me to make deposits and withdrawals. Even on
local exchanges, withdrawals can go directly to my personal bank account, and another interesting thing is that there is a chatroom that uses
the national language of the country I live, it makes it easier for me to communicate with traders from my country. So I only use Binance for
futures trading, which is not available on my local exchange. But for spot trading I mostly do it on my local exchanges.