Advice Please: to trade with multipe exchange or a single exchange

btc78

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Quote from: Lagonda on February 24, 2019, 10:09:10 AM

Some exchanges have some coins/tokens that others don't have. But if you trade at a regular basis, I think you should focus on 1 or two exchages with high liquidation. That's enough. For my case, I mostly trade on Binance. I also have other another account on Huobi for less popular tokens and an Okex account for OTC trading.

Very helpful answer complete and detailed,for OP this is enough answer for all your queries,i also do almost what @Lagonda says by using Binance as my main exchange and Okex for OTC

But ofcourse its your call on what to choose since having many exchangers gives you more option on what coins/tokens to invest with

traderethereum

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Quote from: Goodvalony on February 24, 2019, 09:05:44 AM

i have many accounts in over 10 exchanges where i have different tokens. i have not been able to yield profits from all this exchanges. each exchange has about 20 to 10 usd worth of tokens.
will it be advisable to sell off all the tokens and channel the money to one exchange or to continue trading with multiple exchanges?
i choose to have multiple exchanges because most of the tokens i have are in different exchanges.
thanks

I won't suggest that because it is better to leave your token in every exchange and you can check for once a week or you can check on coinmarketcap to see if the price of your tokens increase or not.
There will be a time for every token to increase and you don't have to worry. If the token is a very good project, then they only need to wait for the right time to increase.

ReiMomo

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Quote from: Goodvalony on February 24, 2019, 09:05:44 AM

i have many accounts in over 10 exchanges where i have different tokens. i have not been able to yield profits from all this exchanges. each exchange has about 20 to 10 usd worth of tokens.
will it be advisable to sell off all the tokens and channel the money to one exchange or to continue trading with multiple exchanges?
i choose to have multiple exchanges because most of the tokens i have are in different exchanges.
thanks

The profit out of an exchange is based on the coin you trade with and the volume does matters. The exchange should be a familiar one which has all ERC20 tokens imported and few main currencies to exchange with. And mainly check out the transaction charges the exchange charges. Few exchanges do charge more and provide offers on fees when you buy their coins. So, utilize their benefits.

Little Mouse

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If you are using different exchanges, you have to pay huge fee for withdrawal purpose. It's better to use a single exchange if possible so that you don't have to pay fee multiple times. Besides, it's risky. It is better to use one trusted exchange than 10 untrusted exchange. If your token isn't listed, in that case, you can use several exchange.

miningnew

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Quote from: Lagonda on February 24, 2019, 10:09:10 AM

Some exchanges have some coins/tokens that others don't have. But if you trade at a regular basis, I think you should focus on 1 or two exchages with high liquidation. That's enough. For my case, I mostly trade on Binance. I also have other another account on Huobi for less popular tokens and an Okex account for OTC trading.

+1
The main problem with multiplying exchanges is that you will also multiply the fees...
Select 2 or 3 serious platforms that will be enough

Lagonda

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Some exchanges have some coins/tokens that others don't have. But if you trade at a regular basis, I think you should focus on 1 or two exchages with high liquidation. That's enough. For my case, I mostly trade on Binance. I also have other another account on Huobi for less popular tokens and an Okex account for OTC trading.

Goodvalony

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i have many accounts in over 10 exchanges where i have different tokens. i have not been able to yield profits from all this exchanges. each exchange has about 20 to 10 usd worth of tokens.
will it be advisable to sell off all the tokens and channel the money to one exchange or to continue trading with multiple exchanges?
i choose to have multiple exchanges because most of the tokens i have are in different exchanges.
thanks

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