Choosing the right exchange - page 2.

michellee

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Quote from: noormcs5 on February 01, 2022, 03:44:22 AM

The only probelm with kucoin is that they have a strict KYC policy where they do not allow many countires to use thier exchnages. Even though you can make an account and use it if you are in restricted country but KYC is not allwed for everyone. For this reason i don't think that Kucoin has a big potential as some of the other exchanged mainly binance. For now i think binance is the biggest exchange and no other exchanges seems to be pouplar in terms of liquidity and number of users. There are few other exchnages with much improved features like FTX but that is not widely used when you compare it with binance.

If you think KuCoin is a strict KYC policy and your country is on their restricted countries list, you can search for the other exchanges. KuCoin is just an option for a trader who wants a similar exchange like Binance. But Binance itself has a strict KYC policy, and most exchanges will do the same.

FTX is also good to exchange and although they are a new exchange, they can get in the top ten exchanges this year, so that could be another option for you. But I do not know much about their policy because I do not read too many details.

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Quote from: michellee on January 31, 2022, 10:32:12 PM

Quote from: Yamifoud on January 31, 2022, 05:57:30 AM

They are good and trusted anyway but traders will look for exchanges where they can save some cost of withdrawal expenses. This really matters a lot for now and that is sometimes even exchanges will ask KYC they will still choose them for that matter. Of course, we don't have to forget the reputation of an exchange, we need also to be sure that we are safe and we can withdraw our funds anytime. And not only that, choosing the best and know exchanges we can easily make a trade, we don't wait too long to get filled our buy/sell option, unlike the others.

Quote from: TopT3ns on January 31, 2022, 08:15:26 AM

I agree with KuCoin as good exchange market where deposit and withdraw never get any problem but still faced little problem with Gate.io exchange, ever one time make arbitrage on this exchange but deposit delay almost 30 minutes and I loss chance to sell on higher price because have dump. I think good exchange can process withdrawing and deposit without several minutes, lately only five minutes is maximum for deposit and withdraw process, if have any exchange need one hour for deposit or withdraw I think is not good reputation exchange market.

Both of you are right. I see KuCoin have a chance to become bigger in the future as they have many updates and although they use some similar features as Binance, KuCoin can lift the position to be the top exchange. I do not have a problem using both exchanges. Although I do not trade too often on both exchanges, I still hold some coins and wait for the coin price increase. The deposit and withdrawal are not too long for me but we need to realize that maybe it depends on the network itself.

The only probelm with kucoin is that they have a strict KYC policy where they do not allow many countires to use thier exchnages. Even though you can make an account and use it if you are in restricted country but KYC is not allwed for everyone. For this reason i don't think that Kucoin has a big potential as some of the other exchanged mainly binance. For now i think binance is the biggest exchange and no other exchanges seems to be pouplar in terms of liquidity and number of users. There are few other exchnages with much improved features like FTX but that is not widely used when you compare it with binance.

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Quote from: michellee on January 31, 2022, 10:32:12 PM

Quote from: Yamifoud on January 31, 2022, 05:57:30 AM

They are good and trusted anyway but traders will look for exchanges where they can save some cost of withdrawal expenses. This really matters a lot for now and that is sometimes even exchanges will ask KYC they will still choose them for that matter. Of course, we don't have to forget the reputation of an exchange, we need also to be sure that we are safe and we can withdraw our funds anytime. And not only that, choosing the best and know exchanges we can easily make a trade, we don't wait too long to get filled our buy/sell option, unlike the others.

Quote from: TopT3ns on January 31, 2022, 08:15:26 AM

I agree with KuCoin as good exchange market where deposit and withdraw never get any problem but still faced little problem with Gate.io exchange, ever one time make arbitrage on this exchange but deposit delay almost 30 minutes and I loss chance to sell on higher price because have dump. I think good exchange can process withdrawing and deposit without several minutes, lately only five minutes is maximum for deposit and withdraw process, if have any exchange need one hour for deposit or withdraw I think is not good reputation exchange market.

Both of you are right. I see KuCoin have a chance to become bigger in the future as they have many updates and although they use some similar features as Binance, KuCoin can lift the position to be the top exchange. I do not have a problem using both exchanges. Although I do not trade too often on both exchanges, I still hold some coins and wait for the coin price increase. The deposit and withdrawal are not too long for me but we need to realize that maybe it depends on the network itself.

The chances and potential forKuCoin to become bigger in the future, of course, are. But this create some problems for the users. For example, regulators will pay more attention to this exchange and this will lead to mandatory KYC. It will be unpleasant.

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Quote from: michellee on January 31, 2022, 10:32:12 PM

I see KuCoin have a chance to become bigger in the future as they have many updates and although they use some similar features as Binance, KuCoin can lift the position to be the top exchange. I do not have a problem using both exchanges. Although I do not trade too often on both exchanges, I still hold some coins and wait for the coin price increase. The deposit and withdrawal are not too long for me but we need to realize that maybe it depends on the network itself.

Plus one here, it is true that speed can sometimes differ based on the traffic in the network so they must not put all the blame in the exchange. Deposits do not have to be manual but withdrawals can be and manual processing of withdrawals does not only happens on exchanges but also on gambling platforms and on some wallet service providers.

I think they do that because they want to make sure that all withdrawals are fair and not fraud. I also agree when you say that kucoin and binance have similarities because this also what i noticed before. Not only kucoin copies binance but bitmart too has a resemblance of binance. Is that allowed and binance know this already?

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Quote from: xbcc40 on January 25, 2022, 08:53:39 AM

Hi all,

I'm preparing my limit order for this altcoin and since the marketcap is only 170 million and my order might be big for this marketcap, I am afraid that my low bid order might not get filled if there is a wick down. So I'm deciding between 2 exchanges: Kucoin with 1.2 million USD volume (per 24 hour) and Gate.IO with 200k USD volume.

The goal is to have the highest chance for getting my low bid order filled, especially because my order will be big (I think). I thought that Kucoin might be better for this, since the volume is way higher. But I have observed both exchanges for 2 days now and often Gate.IO has a lower price and also seems to have more units on sale. Is that possible, despite Kucoin having a way higher volume? Or am I reading it wrong?

Please see this image of both the order books:

The white one is of Gate.IO and the black one of Kucoin. The total amount of coins is listed under ''cum'' on Gate.IO and ''Total'' on Kucoin. As you can see for the price of 12.287 for example there are only around 46 units to be sold on Kucoin and around 940 units on Gate.IO. Am I reading this correctly and thus at this time at least, Gate.IO is better for my goal of having the most chance of my low bid order to get filled?

Thanks in advance!

Some exchanges have orders filled with lower price but when you take a look at the volume of those orders it will be less than 1% or simply created by the exchange itself to give more trading volume to coin tacking sites so I always say go with the Kucoin which is reputable and you don't need to worry about your order stuck forever.

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Quote from: Yamifoud on January 31, 2022, 05:57:30 AM

They are good and trusted anyway but traders will look for exchanges where they can save some cost of withdrawal expenses. This really matters a lot for now and that is sometimes even exchanges will ask KYC they will still choose them for that matter. Of course, we don't have to forget the reputation of an exchange, we need also to be sure that we are safe and we can withdraw our funds anytime. And not only that, choosing the best and know exchanges we can easily make a trade, we don't wait too long to get filled our buy/sell option, unlike the others.

Quote from: TopT3ns on January 31, 2022, 08:15:26 AM

I agree with KuCoin as good exchange market where deposit and withdraw never get any problem but still faced little problem with Gate.io exchange, ever one time make arbitrage on this exchange but deposit delay almost 30 minutes and I loss chance to sell on higher price because have dump. I think good exchange can process withdrawing and deposit without several minutes, lately only five minutes is maximum for deposit and withdraw process, if have any exchange need one hour for deposit or withdraw I think is not good reputation exchange market.

Both of you are right. I see KuCoin have a chance to become bigger in the future as they have many updates and although they use some similar features as Binance, KuCoin can lift the position to be the top exchange. I do not have a problem using both exchanges. Although I do not trade too often on both exchanges, I still hold some coins and wait for the coin price increase. The deposit and withdrawal are not too long for me but we need to realize that maybe it depends on the network itself.

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Quote from: ice18 on January 26, 2022, 02:48:49 AM

My suggestion is choose exchange with high volume Kucoin, why I suggest this one? Supposed your buy order at low price already been filled then later the price increase then you have a profit now and you decided to sell it, right? You can immediately sell your asset without worrying with liquidity and volume in Kucoin compared to Gateio which has low volume, you need to wait a longer time before your sell order got filled.

Exactly what I would like to write. Exchanges with low volume are easily to manipulate I think.

jaberwock

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Quote from: xbcc40 on January 25, 2022, 08:53:39 AM

The white one is of Gate.IO and the black one of Kucoin. The total amount of coins is listed under ''cum'' on Gate.IO and ''Total'' on Kucoin. As you can see for the price of 12.287 for example there are only around 46 units to be sold on Kucoin and around 940 units on Gate.IO. Am I reading this correctly and thus at this time at least, Gate.IO is better for my goal of having the most chance of my low bid order to get filled?

Lol if there are lots of units on sale on one doesn’t that mean that it is because it doesn’t have a high trade volume? Maybe it would be best to go with the exchange that has a higher trade volume so that way you’re sure that your orders get filled real quick than having to wait for a long time.

It’s your choice though to decide for yourself, but if it was left for me I think I will be choosing that Kucoin exchange because it is a bigger exchange and has a bigger trade volume, which probably gives you a better chance. Or you can still go ahead to give the both exchanges a try to see which would better give you what you want .

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Quote from: Ararbermas on January 25, 2022, 03:19:05 PM

For me in my personal opinion i don't want to recommend gate.io exchange because way back 2019 i have problem with my account but they keep asking more information even though i've already submitted what some sort of information they need in order to recognize me but sad to say no solution until now just a bunch of messages for my information. Very shady to be honest so i stopped contacting them.

Honestly, I don't know why I haven't come round using that exchange. I always have premonition that all isn't well there. There were instances when I had to let go of certain tokens I wanted to buy which were exclusively listed on that exchange. I ain't outrightly saying it's a scam exchange, though I've my reservations about it.

Quote from: Ararbermas on January 25, 2022, 03:19:05 PM

If i were you mate try binance if it's not restricted to your country wherein to ensure your capital is in a safe place as well, its a very secured was so probably a good choice than gate.io.

Not every token is listed on Binance and OP didn't bother to furnish us with a related information as to the name of the token do one can easily check it out. It beats me hallow why they were secretive on that. Even the link they provided, there was nowhere to find token name. Gosh!

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Quote from: michellee on January 31, 2022, 01:08:46 AM

KuCoin and Gate.io are good exchanges so I think you can use both exchanges to trade. But if you want to search which exchange will have the lowest bid, I think that will depend on the coin itself because sometimes coin A in KuCoin will have the lowest price and vice versa.

I guess you want to use both exchanges for arbitrage trading or I could be wrong because you compare both exchanges to find the lowest price. Whether which exchanges you will select, you should check everything before buying or selling and make sure you analyze to find the price.

I agree with KuCoin as good exchange market where deposit and withdraw never get any problem but still faced little problem with Gate.io exchange, ever one time make arbitrage on this exchange but deposit delay almost 30 minutes and I loss chance to sell on higher price because have dump. I think good exchange can process withdrawing and deposit without several minutes, lately only five minutes is maximum for deposit and withdraw process, if have any exchange need one hour for deposit or withdraw I think is not good reputation exchange market.

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Quote from: michellee on January 31, 2022, 01:08:46 AM

KuCoin and Gate.io are good exchanges so I think you can use both exchanges to trade. But if you want to search which exchange will have the lowest bid, I think that will depend on the coin itself because sometimes coin A in KuCoin will have the lowest price and vice versa.

I guess you want to use both exchanges for arbitrage trading or I could be wrong because you compare both exchanges to find the lowest price. Whether which exchanges you will select, you should check everything before buying or selling and make sure you analyze to find the price.

They are good and trusted anyway but traders will look for exchanges where they can save some cost of withdrawal expenses. This really matters a lot for now and that is sometimes even exchanges will ask KYC they will still choose them for that matter. Of course, we don't have to forget the reputation of an exchange, we need also to be sure that we are safe and we can withdraw our funds anytime. And not only that, choosing the best and know exchanges we can easily make a trade, we don't wait too long to get filled our buy/sell option, unlike the others.

michellee

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KuCoin and Gate.io are good exchanges so I think you can use both exchanges to trade. But if you want to search which exchange will have the lowest bid, I think that will depend on the coin itself because sometimes coin A in KuCoin will have the lowest price and vice versa.

I guess you want to use both exchanges for arbitrage trading or I could be wrong because you compare both exchanges to find the lowest price. Whether which exchanges you will select, you should check everything before buying or selling and make sure you analyze to find the price.

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Why not divide the altcoin you have and deposit it in both exchanges? You will get lower volume within both, and you can get the order filled in no time. Maybe you can stagger it as well? Maybe just do it differently so as not to give the market an immediate dump or something.

If you don't care about that, go with the most profit you could get so that it would be easier.

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C O M B O

Quote from: andriarto on January 30, 2022, 10:42:44 PM

Quote from: TopT3ns on January 30, 2022, 12:09:54 PM

Quote from: sana54210 on January 30, 2022, 11:40:10 AM

Quote from: Hypnosis00 on January 29, 2022, 04:26:21 PM

Choosing the right exchanges OP is very important when it comes to trading.
* Reliable
* huge trade volume
* number of currencies accepted
* security (legality)
* trade commission

Yes, a lot of things goes into choosing the right exchange, but I think these two exchanges are reliable exchanges since they are both well known exchanges (though Kucoin has a better exchange since it is bigger and better known). As for the number of currencies that are being accepted on the both exchanges I can’t tell which has the highest number of currencies that are being accepted.

In terms of security , they might both be on the same level of security. The only way I think that they are not the same is the trade volume which Kucoin has bigger trade volume than Gate.io. and of course Kucoin would be the better choice here since it is winning.

I am looking for right exchange market depend how much transaction volume and separated between buy and sell order, some exchange market looks crazy they have most different price between buy and sell order beside have less transaction volume, second thing why have to choose right exchange market is depending with how faster when deposit and withdrawal coin, still have several exchange market withdrawing process manually and you need waiting until 30 minutes to 60 minutes for withdrawing completed.

With the large volume of transactions, we can identify whether the exchange is good or not. the more volume of transactions there are, the more people who use the services of the exchange, thus fostering confidence to make transactions on the exchange. actually it is not difficult to choose an exchange, because at least we know the order of the best exchanges from the top

That's true with the number of transactions on the exchange I think it can indicate that users trust the exchange,
what is clear is that everyone must be selective in choosing the exchange and they must have their own classification

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Quote from: TopT3ns on January 30, 2022, 12:09:54 PM

Quote from: sana54210 on January 30, 2022, 11:40:10 AM

Quote from: Hypnosis00 on January 29, 2022, 04:26:21 PM

Choosing the right exchanges OP is very important when it comes to trading.
* Reliable
* huge trade volume
* number of currencies accepted
* security (legality)
* trade commission

Yes, a lot of things goes into choosing the right exchange, but I think these two exchanges are reliable exchanges since they are both well known exchanges (though Kucoin has a better exchange since it is bigger and better known). As for the number of currencies that are being accepted on the both exchanges I can’t tell which has the highest number of currencies that are being accepted.

In terms of security , they might both be on the same level of security. The only way I think that they are not the same is the trade volume which Kucoin has bigger trade volume than Gate.io. and of course Kucoin would be the better choice here since it is winning.

I am looking for right exchange market depend how much transaction volume and separated between buy and sell order, some exchange market looks crazy they have most different price between buy and sell order beside have less transaction volume, second thing why have to choose right exchange market is depending with how faster when deposit and withdrawal coin, still have several exchange market withdrawing process manually and you need waiting until 30 minutes to 60 minutes for withdrawing completed.

With the large volume of transactions, we can identify whether the exchange is good or not. the more volume of transactions there are, the more people who use the services of the exchange, thus fostering confidence to make transactions on the exchange. actually it is not difficult to choose an exchange, because at least we know the order of the best exchanges from the top

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Quote from: CryptopreneurBrainboss on January 30, 2022, 04:30:32 AM

Quote from: xbcc40 on January 25, 2022, 08:53:39 AM

The goal is to have the highest chance for getting my low bid order filled, especially because my order will be big (I think). I thought that Kucoin might be better for this, since the volume is way higher. But I have observed both exchanges for 2 days now and often Gate.IO has a lower price and also seems to have more units on sale. Is that possible, despite Kucoin having a way higher volume? Or am I reading it wrong?

Don't believe those volumes, exchanges are known for faking their volume, and kucoin exchange from my experience is one of those exchange doing this excessively. I was once active on the exchange due to the possiblity of getting newly listed gem before other top exchanges does but I noticed they have more of bots than active traders. I haven't used gate.io that much so I won't have much opinion on them.
<....>

This is right and I agree with you, for me it doesn't matter the volume because it's easy to fake especially when exchanges use bots which are obviously the bots works automatically when placing orders. I had used Gate.io and also Kucoin, comparing them and I think Kucoin exchange platform which far better when it comes to trading volume, though there are some obvious prices manipulated by the bot at least there's a massive number of traders which is can cover how the bot work is.

So, don't look up the trading volume because that is very easy to fake especially if the coin is a low volume.

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Quote from: sana54210 on January 30, 2022, 11:40:10 AM

Quote from: Hypnosis00 on January 29, 2022, 04:26:21 PM

Choosing the right exchanges OP is very important when it comes to trading.
* Reliable
* huge trade volume
* number of currencies accepted
* security (legality)
* trade commission

Yes, a lot of things goes into choosing the right exchange, but I think these two exchanges are reliable exchanges since they are both well known exchanges (though Kucoin has a better exchange since it is bigger and better known). As for the number of currencies that are being accepted on the both exchanges I can’t tell which has the highest number of currencies that are being accepted.

In terms of security , they might both be on the same level of security. The only way I think that they are not the same is the trade volume which Kucoin has bigger trade volume than Gate.io. and of course Kucoin would be the better choice here since it is winning.

I am looking for right exchange market depend how much transaction volume and separated between buy and sell order, some exchange market looks crazy they have most different price between buy and sell order beside have less transaction volume, second thing why have to choose right exchange market is depending with how faster when deposit and withdrawal coin, still have several exchange market withdrawing process manually and you need waiting until 30 minutes to 60 minutes for withdrawing completed.

sana54210

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Quote from: Hypnosis00 on January 29, 2022, 04:26:21 PM

Choosing the right exchanges OP is very important when it comes to trading.
* Reliable
* huge trade volume
* number of currencies accepted
* security (legality)
* trade commission

Yes, a lot of things goes into choosing the right exchange, but I think these two exchanges are reliable exchanges since they are both well known exchanges (though Kucoin has a better exchange since it is bigger and better known). As for the number of currencies that are being accepted on the both exchanges I can’t tell which has the highest number of currencies that are being accepted.

In terms of security , they might both be on the same level of security. The only way I think that they are not the same is the trade volume which Kucoin has bigger trade volume than Gate.io. and of course Kucoin would be the better choice here since it is winning.

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Quote from: xbcc40 on January 25, 2022, 08:53:39 AM

The goal is to have the highest chance for getting my low bid order filled, especially because my order will be big (I think). I thought that Kucoin might be better for this, since the volume is way higher. But I have observed both exchanges for 2 days now and often Gate.IO has a lower price and also seems to have more units on sale. Is that possible, despite Kucoin having a way higher volume? Or am I reading it wrong?

Don't believe those volumes, exchanges are known for faking their volume, and kucoin exchange from my experience is one of those exchange doing this excessively. I was once active on the exchange due to the possiblity of getting newly listed gem before other top exchanges does but I noticed they have more of bots than active traders. I haven't used gate.io that much so I won't have much opinion on them.

If this trade haven't been executed yet why not utilized both exchange for the transaction to be filled faster, both exchange are quite decent and aren't scammy so they could do the trick. Exchange have bots that places either buy or sell order above current market value just to keep the market active but usually the trade volume are low meaning it will be hard to have all your orders filled if the transaction volume is very high.

Topic: Choosing the right exchange - page 2. (Read 567 times)