Topic: Best platform for crypto exchange (Read 211 times)

Though it's true that one needs to consider the fact that whether crypto trading has any laws and regulations within their country or not and whether they are allowed to indulge in crypto trading as per the laws and regulations or not, I believe he must have already been through that phase and that is why he is here asking about how he can get started with it.

The best option is probably using a centralized exchange by having their identity verified for initial purchases. One can easily use Binance to make their purchases and then save their coins or tokens in a hardware wallet if they are willing to hold them for the long term.

It depends on which country you are at times, some countries make it difficult for thier citizens to use crypto. But I would advice you to invest the money you can afford to invest for longterm purpose because generally, crypto is still very early and there is still a lot of improvements and corrections to come.

that is a good suggestion. more beginners only know the exchange, and they mostly leave their assets there. do not make withdrawals after purchasing their wallet. leave for months or even years. if they choose the wrong exchange platform, they may return to a platform that has closed or gone bankrupt.
whatever happens, if you want to plan an investment. they must start with sufficient knowledge.

OP, enough suggestions already, I hope you get the point and start planning accordingly. I wish you success.

I'm not sure how well prepared you are for the investment you're about to embark on, but I recommend you learn and understand the fundamentals of Bitcoin as well as key concepts and addresses so that you have everything you need to keep your Bitcoin in your wallets.

You can go through
learnmeabitcoin.com to get all the basic knowledge you need as a beginner in order to have a safe investment.

If you really want to start using crypto everyday , then you should probably get your self some crypto after doing that you should also have some platform which gives users crypto card, exchanges like Binance which you can use the card to spend on your daily purchase, that's if that's what you mean is to be using it for your daily life expenses.

If not you should just look for a solid source withing your locality and grab some crypto which you could save and keep on filing the bag, why doing so always mind the kind of crypto you purchase.

Wrong information, anyone can use crypto everyday if they want, using your crypto to do day trading means they are already in use, a day trader uses his or her coin to day trade on any exchange they like, it's in work, to earn more money.

Trading is now possible outside of centralized exchanges, now decentralized exchanges are capable of trading, you can create orders and wait for your order to go through just like what we do on centralized exchanges.

The difference here is one requires for your identity card and the other doesn't. The choice is up to the OP.

You can start here https://coinmarketcap.com/rankings/exchanges/   by checking the the top exchange on the list.

Then you can see the top coins and their charts here https://coinmarketcap.com/

Also you can use tradingview for charts. This you can start do your research which is so helpful on your trading career.

If you didn't start yet then I would like to welcome you. And I think if you are much aware about security then you should use decentralized exchanges to buy and hold your cryptos in a safe wallet which may be electrum wallet. You can also invest from Binance or any centralized exchanges but always remember this is not fully secured because not your keys not your coins.

Exchanges are very difficult to vouch for, picking the best is subjective. However, there is a single rule that protects everyone which is never live your coin on any exchange, this sound not like a serious warning but it is one the best free pieces of advice you will ever receive as a recommendation from anyone, it is one of the underrated dangers of a centralized exchange, move your coins to your external wallet as soon your order becomes settle. The number two piece of advice I will give you is to avoid KYC, it will come back to hunt you because you are putting your privacy and information at stake, some people have been identified with bitcoin transactions and this is as a result of KYC they did in an exchange, so think abou the precuations you use any of them.

If you are interested in investing then you need to choose some good coins. And you need to know well about cryptocurrency. If you invest without any idea about cryptocurrency then you have big risk of losing money. You can get profit by investing here in two ways.  .If you invest for a short period of time and sell another one, you can invest for a long period of time and get profit. I think you should invest after that.

Congratulations you are interested in investing in Bitcoin. First you need to understand about cryptocurrency . There are many types of wallets, exchangers. You need to know and understand about this. What did you mean? I did not understand well. Do you want to invest long term? If yes then you should not use any kind of exchanger. You can use Electrum Wallet. Here you can safely invest a lot.

And if you want to trade daily, then many brothers above have mentioned many exchanges such as Binance, Ku Coin, etc. You can use them if you want.

You want to start investing in crypto and using crypto on daily basis, correct?

Are there any outlets in your country accepting crypto? You need hot wallet to spend crypto conveniently on daily basis, like trust wallet or metamask, this is what hot wallets are built for, but I doubt anyone can use crypto as means of payment on daily basis this days because crypto is still not widely accepted as means of payment.

If you don't care about your identity and privacy then register an account on the Binance exchange and deposit Fiat to buy crypto or use Binance Peer 2 Peer service, where they will pair you will someone who is ready to take your Fiat and give you USDT or BUSD in return.

If this sound confusing for you, search a video on Youtube about how to create an account on Binance exchange, you can also find how to trade Fiat for USDT using Binance Peer 2 Peer service.

If the coins or tokens you want to buy is not available on the Binance exchange you will need to withdraw the USDT you get from Fiat trade to another exchange.

I assume the word using as spending because that is what the money is actually created for.

There are some online websites accepts bitcoin as payment for like buying good or paying subscription fee but if you want to spend it for everything then bitrefil is the best possible way because you can buy coupons, gift cards with bitcoin then use it to pay for anything you want.

I don't understand the logic behind why can't OP use bitcoin everyday? Bitcoin trading count as using bitcoin. OP can trade bitcoin everyday with proper knowledge and education about bitcoin trading.
Binance is a good option for bitcoin trading but OP can do his research according to his preference he can choose the exchange which he finds out is good for him. But before start trading regularly or you call it day trading you have deep knowledge about bitcoin and bitcoin trading.

If you want to invest in crypto why not take invest first with the security which is having a cold wallet if you are capable to buy bitcoin your capable to buy one of this right, this makes you feel safe and secure every time you make a transaction or getting hacked because hardware wallet have a good security feature. Also they have their exchange right there with their software else you use the binance or coinbase as one of the reliable. Other that crypto.com, and kucoin are the alternative I used.

I did not understand what you meant by day trading. But i can share you several crypto trading platforms that have gained reputation in crypto space. Among them I support Binance first and then Coinbase, Kraken, Kucoin and some other exclusive platforms where you can deposit money and conduct trading activities.

You are not the first newbie to ask this question. If you search the forum, you can find a lot of discussions and answers.

Do you want to invest? The best way is to buy crypto and keep it for yourself. You can buy from an exchanger, like bestchange or bisq. Store using a wallet that is installed on your PC or smartphone. Depending on the selected coin, the corresponding wallet will be selected. For bitcoin, electrum is most commonly used.

More detailed answers require more information from you. Actually, you are in the right section of the forum and just start reading this section to get started.

If you are a trader, then read reviews and reviews about crypto exchanges. But if you are a beginner and you have no knowledge, then you will lose your investment in trading.

If you want to invest, then buy a Ledger or Trezor hardware wallet first. They support a lot of current coins, and then start building your portfolio. I do not recommend that you choose more than 10 coins. It's very difficult to follow up.

I highly suggest using DEX if you want to trade in daily because. You can guarantee that your funds will never leave your wallet even if convert it on different currency. First you should define what Blockchain you want to use as your ecosystem for your trade. For starters, Binance Smart Chain is good for beginners because it has low transaction fee, fast transaction confirmation and vast number of dapps which you can choose to invest frequently.

If your goal is to trade in regular basis, You should use an exchange that has a very active development to make sure that most of the projects has volume that you will for trading. Never use CEX to trade in daily basis because you will surely leave your assets inside the exchange which is very dangerous since you don’t have access to your  wallet private key.

Do more research on DEX trading and find the perfect blockchain that suits your trading style. Good luck!

OP, Investing in cryptocurrency can be an exciting and potentially profitable endeavor, but it's important to approach it with caution and do your research. Before investing in any cryptocurrency, you should take the time to learn about the risks associated with it and how it works. Once you've selected a cryptocurrency you'd like to invest in, you'll need to choose a reputable exchange to purchase it. You should also set up a wallet to store your cryptocurrency after you purchase it, and practice good security habits to protect your investment.
If you're interested in using cryptocurrency on a daily basis, there are several ways to do so. Many merchants now accept cryptocurrency as a form of payment, so you can use it to make purchases just like you would with a credit card or cash. Additionally, some companies offer cryptocurrency debit cards that allow you to spend your cryptocurrency anywhere that accepts traditional debit cards. You can also use cryptocurrency to send and receive money to friends and family around the world, with low fees and near-instant transaction times. Overall, investing in and using cryptocurrency can be a rewarding experience, but it's important to approach it with caution and stay informed about the latest developments in the market.

If you're referring to the best best way to buy cryptocurrency then choosing a centralized exchange is fine but if you're to store and keep your crypto it's a very bad idea, you get a decentralized cold storage for doing that, you can learn more about trading before starting and these depends on which kind of trading you wanted to begin with, but i will suggest you start with bitcoin only for a start, and learn all the trading patterns.

You can't use Crypto every day even if you want to.But you can trade daily if you want.
First you need to centralize exchange to trade.Where you can buy any type of coin, trade and invest as you wish.
Binance is a very good exchange to invest in.I often invest in this excise through various coins.

I think @OP meant he want to use crypto in daily basis is he want to become a daily trader.

Since you're want to become a daily trader, obviously you need to use a centralized exchange since you're looking for liquidity, decentralized exchange is lack of liquidity and you might miss the moment to buy or sell to make profit.

I recommend to use Kucoin or Bybit since both of them are still KYC less centralized exchange.

The first thing you have to.do is to invest time in learning about cryptocurrencies so that you will have some understanding of how it works. If you intend to invest in cryptocurrencies then you need to buy and hodl mainly bitcoin for a long time for you to make some profit.

If trading is your main aim, then you need to pay more attention to the market to enable you to buy and sell profitably. I hope you are also aware of the risks involved in venturing into this sector.

Using cryptocurrency for daily expenses will be largely based on your country's stance on the currency. There are nations where you can't buy anything with cryptos. Some are more open to cryptocurrencies and few have made it legal tender.

No one can say what is best crypto exchange for you because each person has different needs, privacy, security, ready to do KYC or prioritize anonymity as well as needs in trading.

If you want to chase hidden gems that are risky, you will be ready to take risk with small exchanges that usually are more ready to list new coins, new tokens. You must be aware that using those exchanges will cause higher risk for your account.

Cryptowisser.com has pages to filter exchanges and exchange graveyards.
https://www.cryptowisser.com/exchanges/
https://www.cryptowisser.com/exchange-graveyard/

If you don't want KYC, check some non-KYC exchanges: https://kycnot.me/

Hi and welcome to the forum.

As you clearly lack basic knowledge about cryptocurrencies and where and how they are used, you should first educate yourself on that. Start by learning about the basics either from this forum or using Google. Once you acquire enough knowledge and understand the basics, then you should go for investing, you can use Binance.com for easy buying and selling of all kinds of cryptocurrencies.

Remember, investing in cryptocurrencies is a high risk, so though you may get returns on your investment if the price of the coin/token goes high after you buy it, the possibility of it dropping is always there too.

This is like help for beginners so better move to this board Beginners and Help.

Do you mean using crypto every day is making transactions for swaps, bridges, or other types of transactions? If so then it's better to use a non-custodial wallet it will be simpler that makes frequent transactions.

If it's about the best platform to start investing maybe you can choose Binance platform and need to pass KYC to be able to buy bitcoin or other types of crypto, after that you can withdraw to holding wallet or hardware wallet if you have one.

Please elaborate more, people here are confused about your question.

It depends on which country you are in and if Bitcoin in your place was fully regulated or announced by the government as a legal tender.
You can't use Bitcoin on a daily basis because a few are using this and some physical stores didn't accept Bitcoin yet as a payment.
Just try to Google it if what crypto local wallet supports crypto in your place, it could that way, it may help you to use Bitcoin in some merchant's stores but I guarantee not them all.  Just like in my place, we have Coins.ph wallet/exchange app which is a centralized app that you can possibly use daily.

As of now, Binance is very popular, using a web or an app could be a much better UI.

I'm a bit confused about your intentions. Are you looking to invest in cryptocurrency or use it as a method of payment? While it's possible to do both, there seems to be a bit of a tradeoff between the two options. Investing in cryptocurrency involves holding onto it for potential future gains, while using it as a form of payment requires spending it now.



Don't be so sure about that. It's not a stretch to say that living solely on cryptocurrency is possible, given the increasing number of stores and businesses that now accept it as a form of payment. In fact, I myself have been able to pay for groceries and bills with cryptocurrency. Additionally, with the availability of payment cards that can be topped up with cryptocurrency, it's becoming easier to fully embrace a crypto-based lifestyle.

You cannot use crypto in daily basis, there is no place in the world where you can every day buy stuff with crypto.

You can trade every day. To do so, just open an account in the biggest exchanges such as Coinbase,  Binance  , Kraken, Bitstamp, etc...
I would avoid small and new exchanges, as they have higher risk to disappear with your money.

Using crypto every day for what, you own a business? Exchange platforms aren't too flexible as a medium of payment and can charge excessive fees.
At least you state your preferences, using crypto isn't as easy as imagined, especially regarding local legality and of course there are some technical things that you need to learn.

Hello friends, I really wanna start investing and using crypto on daily basis Please let me know what are the best ways to do it? Where should I start? Thanks a lot in advance!