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Showing 20 of 21 results by jeantyo1
I think its natural that old crypto exchanges are responsible for the biggest part of the market. Large exchanges like CEX (https://cex.io/) or Coinbase have a significant number of users. Its difficult for new exchanges to attract a lot of users because they have nothing new to offer. They cant reinvent the idea of a crypto exchange.
The main motivation of the BCH hard fork is dominance and control over the network. As long as the crypto market is sensitive to any news, this split makes an impact on the unstable market. Although there is no direct influence of BCH on the BTC price, the news have already affected it.
Bitcoin is like gold. It is a rare, independent, self-sustainable thing that will be always in demand as a reliable store of value. Ethereum is rather like oil. It can not only be produced for sale but also used for 'heating' (practical application). Bitcoin and Ethereum are not rivals because gold will never replace oil, and vice versa.
There are plenty of trading platforms and you can start with the easiest to use one. I think they are Coinbase and CEX. Both are reliable and simple in use, plus, they have a good reputation. On CEX you can easily buy Bitcoin or major altcoins with EUR (https://cex.io/eth-eur), USD, and other currencies. The same with Coinbase. The principal difference between these two exchanges is support of the countries. Coinbase covers 33 of them, while CEX can be accessed from more than 200 countries.
Undoubtedly, bitcoin is the first in my list, and I think it goes without saying why. Also, I woul go for IOTA because of omission of transaction fees and connection with the IoT. Also: Ethereum (as it is the second cryptocurrency after bitcoin by its market capitalization and popularity); Dash (because it provides anonymity and fast transaction with functions of PrivateSend and InstaSend); Stellar (as a blockchain solution for instant international payments with minimal fees); Cardano (because its concept is based on a scientific attitude).
Elimination of any intermediaries for making transactions. You dont need a bank account accompanied by a bunch of papers to store coins. Bitcoin allows transferring money to anywhere in the world faster and almost for free. You are the only one who has an access to your money and nobody can tell you how to manage them. It gives financial freedom by reducing the barriers to entry and increasing the amount of potential users.
Crypto has shown me the whole new reality of a decentralized system where the government cant control my money. Investing in crypto has been beneficial to me, although not always. I know that a crypto exchange is one of the key factors for successful investment and trading. And I am so glad I discovered CEX where it is so easy to buy crypto with fias (https://cex.io/btc-usd).
Ethereum is a promising altcoin, but after all, bitcoin dictates the uptrends and downtrends. I hope that ETH will return to its level, as well as the whole market. It is hard to say if it is going to happen this year, nevertheless, I think we will see some positive changes in the next two months.
If you're looking for a coin like Bitcoin, you could take a closer look at its forks, Bitcoin Cash and Bitcoin Gold. They both are accepted by popular exchanges like CEX. You can not only buy them with fiats there but also exchange if you have some btc: https://cex.io/bch-btc, https://cex.io/btg-btc.
As a decentralized technology that cant be controlled, Bitcoin actually can help areas that have a lot of manipulations going on. Everything that deals with money and investments is surrounded by buzz and fakes. We need to learn how to distinguish real information from fakes.
Yeah, hacks of centralized exchanges happen from time to time. These systems are really vulnerable as fraudsters are constantly improving their strategies. Also, exchanges dont have enough protection from attacks because they are based on central systems. There are a few exchanges which were never hacked like CEX (you can buy and store crypto there using their cold storage, https://cex.io/buy-bitcoins) or Kraken. But I think that centralized exchanges are outdated. Its time to launch simple and reliable decentralized alternatives which wouldn't store users funds. What you think about DEXs and their potential?
Its a manipulative opinion that could work with those people who dont know anything about Bitcoin except its name. All their attention is paid to Bitcoin mining, while the production of fiats does more way harm to the environment. If we have a closer look at this issue, we will find that the problem is not in the high energy consumption but in the resources of energy
Re: When margin trading; Keep your coins on exchange overnight, or withdraw?
Agree with guys. Anything could happen, and if I were you, I wouldn't keep the coins on the exchange. If only it has a cold storage like CEX (https://cex.io/) or similar to it. Even so, I would probably be afraid of leaving my coins on the exchange and rather withdraw them.
I've heard many good things about Binance. It is a quite young cryptocurrency website which has already gained enourmous popularity. But actually, I don't understand why you're looking specifically for the best new exchanges. I think, it's better to look for reliable and time-proven websites like CEX (https://cex.io/). The new one might not be that secure.
Bitcoin cant stabilize at the moment, coz many factors still influence it. Bitcoin can be manipulated by the various news. Large investors are capable of manipulating the atmosphere on the crypto market. Most investors arent interested in stabilization as they come with speculative intentions. Bitcoin wont stabilize until there are regulations. As for bitcoins jump, I think that sooner or later it will come.
Lack of knowledge prevents people from learning advantages of cryptos over fiat money. There is a fear of something completely new digital currencies are still considered strange by the majority, as you can't touch or actually see them. Finally, the risks of the unpredictable market can frighten even experienced investors. But the world is rapidly changing; and if you cant adapt to it, you will left far behind.
Well, I cant say what you should or shouldnt do, but I can share my opinion with you) For myself I decided to buy more crypto at the moment when its price is decreased to get a good profit. As a rule, after fall the growth starts, and you can sell your crypto in several times more expensive. It is important not to surrender to panic when crypto experiences a short-term fall of price, and wait for a right moment. The most profitable and attractive coins among investors are bitcoin, ethereum, ripple, and other crypto from the top-10 list on capitalization. Choosing several coins for investment, you're getting more chances for benefits. While one coin is going down, another can increase twice or more.
Everyone wants confidence, so constant volatility of bitcoins price frightens investors as it includes risk. Todays price is not what people expected to see after price boom in December. Thats why those people who dont understand the long-term perspective, those who didnt analyze the market, or those who have bought bitcoin at the much high price are groaning and making panic on this issue. I think that price fluctuations are normal, and moaning is not necessary.
I did some research on the best/top exchanges I can use for crypto currency trading and decided to do a post about it. In the hopes others will benefit from my research and will make choosing the right exchange for you more easily. I will update the list with more exchanges later on.
I hope that this will become a good guide/resource for people to use and will not be buried by spam.
Criteria for selection
I have been following some criteria in my selection process like:
It may not be enough to use a single exchange for you, you may end up using multiple exchanges in order get your funds from FIAT to crypto and back to your bank account. I am currently using Binance for trading and Bitstamp for getting money in/out to FIAT and avoiding a bank blocade.
Based on these factors, I have come up with my own top of exchanges. Check them out:
1. Binance.com
This is the all time winner when it comes to trading volumes. It has more than $1 billion worth of coins traded everyday.
It has an easy enough sign-up process, you can increase your account limits by providing the details needed and the staff is prompt.
2. Bitfinex.com
They are close behind Binance, with a trading volume of $0.5 billion worth of coins traded everyday. Similar process of account limit lifting as Binance but it can take up to 8 weeks to get fully authorised by the staff. They have the most complex trading platform in this top, ideal for expert traders.
3. HitBtc.com
They have an insane amount of trading pairs. I don't know of any other exchange to offer as many trading pairs as HitBtc. They also have decent volumes too.
4. Bittrex.com
They were not accepting new registrations in the past but recently they opened up the registration process again. Volumes are not as high as the previous exchanges in this top but they still are decent.
5. Kraken.com
For a long time this was considered to be the best exchange for the EU zone, supporting fast & extremely low fees SEPA transfers.
Their trade volumes look decent too.
6. Bitstamp.com
Another EU based exchange, higher fees but their service is decent and fit for casual traders.
They also work with a lot of banks and "beyond banking" providers with no restrictions, as opposed to Kraken which has started to refuse some.
Exchange details
Notes
1 Trading fees: Usually every exchange charges a percentage to the maker (user who submits a trade) and a percentage to the taker (user who accepts a trade made by the maker). Some exchanges charge a fee for deposits but the majority are free, majority of exchanges charge withdrawal fees.
2 Security Rank: Exchanges use a variety of ways to make sure the user's account is harder to hack. This includes e-mail, phone, 2FA, IP address & user agent verifications, ID verifications (for lifting limits).
3 Trading functions: Exchanges support various forms of trading functions like: market (M), limit (L), stop (S), stop limit (SL), trailing stop (TS), scaled (SC).
Disclaimer
1. Since some criteria are more important for some people and some are not, this top may not suit everyone. Please take this into consideration.
2. Feel free to suggest other exchanges that you're using and may be equivalent to these or even better.
3. Listed fees are the most expensive ones for the lowest trading amounts, up to 1 BTC, for larger values there may be discounts in place.
I hope that this will become a good guide/resource for people to use and will not be buried by spam.
Criteria for selection
I have been following some criteria in my selection process like:
- large volumes traded everyday
- low fees for trading/depositing/withdrawing
- enhanced security
- large variety of coins traded
- FIAT trading & SEPA transfers enabled
- easy registration process
- straight forward trading - easy to use
- option to trade with FIAT
- multiple trading functions
It may not be enough to use a single exchange for you, you may end up using multiple exchanges in order get your funds from FIAT to crypto and back to your bank account. I am currently using Binance for trading and Bitstamp for getting money in/out to FIAT and avoiding a bank blocade.
Based on these factors, I have come up with my own top of exchanges. Check them out:
1. Binance.com
This is the all time winner when it comes to trading volumes. It has more than $1 billion worth of coins traded everyday.
It has an easy enough sign-up process, you can increase your account limits by providing the details needed and the staff is prompt.
2. Bitfinex.com
They are close behind Binance, with a trading volume of $0.5 billion worth of coins traded everyday. Similar process of account limit lifting as Binance but it can take up to 8 weeks to get fully authorised by the staff. They have the most complex trading platform in this top, ideal for expert traders.
3. HitBtc.com
They have an insane amount of trading pairs. I don't know of any other exchange to offer as many trading pairs as HitBtc. They also have decent volumes too.
4. Bittrex.com
They were not accepting new registrations in the past but recently they opened up the registration process again. Volumes are not as high as the previous exchanges in this top but they still are decent.
5. Kraken.com
For a long time this was considered to be the best exchange for the EU zone, supporting fast & extremely low fees SEPA transfers.
Their trade volumes look decent too.
6. Bitstamp.com
Another EU based exchange, higher fees but their service is decent and fit for casual traders.
They also work with a lot of banks and "beyond banking" providers with no restrictions, as opposed to Kraken which has started to refuse some.
Exchange details
| Rank # | | Exchange | | Trading fees1 | | Deposit fees | | Withdrawal fees | | Security Rank2 | | # Trading Pairs | | FIAT trading | | Trading functions3 | |
| #1 | Binance | M/T 0.1% | Free | Variable | #1 | 380 | No | M,L,SL | |
| #2 | Bitfinex | M 0.1/T 0.2% | Variable | Variable | #1 | 82 | Yes | M,L,S,SL,TS | |
| #3 | HitBtc | M 0/T 0.1% | 0.0006 BTC | Variable | #1 | 779 | No | M,L,SC | |
| #4 | Bittrex | M/T 0.25% | Free | Variable | #2 | 294 | Yes | M,L,SC | |
| #5 | Kraken | M 0.16%/T 0.26% | FIAT/Crypto | FIAT/Crypto | #1 | 56 | Yes & SEPA | M,L,S | |
| #6 | Bitstamp | M/T 0.25% | Variable | Variable | #2 | 14 | Yes & SEPA | M,L,S | |
Notes
1 Trading fees: Usually every exchange charges a percentage to the maker (user who submits a trade) and a percentage to the taker (user who accepts a trade made by the maker). Some exchanges charge a fee for deposits but the majority are free, majority of exchanges charge withdrawal fees.
2 Security Rank: Exchanges use a variety of ways to make sure the user's account is harder to hack. This includes e-mail, phone, 2FA, IP address & user agent verifications, ID verifications (for lifting limits).
3 Trading functions: Exchanges support various forms of trading functions like: market (M), limit (L), stop (S), stop limit (SL), trailing stop (TS), scaled (SC).
Disclaimer
1. Since some criteria are more important for some people and some are not, this top may not suit everyone. Please take this into consideration.
2. Feel free to suggest other exchanges that you're using and may be equivalent to these or even better.
3. Listed fees are the most expensive ones for the lowest trading amounts, up to 1 BTC, for larger values there may be discounts in place.
I'm glad to see this question
By the way, your guide is great. Really useful, not only for newbies.Answering your question. I'm using CEX (https://cex.io/), their security measures and an easy-going interface played a decisive role for making a choice. Though the verification procedure looks like it's gonna eat you alive but this also makes you feel safe and confident.