cryptocurrency exchanges | Bitcointalksearch.org

YOSHIE

legendary

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Quote from: david678345 on April 28, 2022, 05:30:21 PM

Hello, what factors do you take into account when choosing the exchange to trade with?

What you need to pay attention to is: every exchange you want to use/choose, make sure the exchange is licensed in the area you live in, because not all countries issue permits for crypto exchanges.

@Bitcoin_Arena, already told you about options.

And if you want additional details again can be seen below.
10 key things to consider when choosing a crypto exchange.

Quote from: david678345 on April 28, 2022, 05:30:21 PM

What are the best cryptocurrency exchanges in your opinion?

You can see below.
From the data: Top Cryptocurrency Spot Exchanges., obviously if you ask me, of course I will answer the exchange operating in my area is the best, of course if you understand what I mean.

Potato Chips

hero member

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yesssir! 🫡

Quote from: david678345 on April 28, 2022, 05:30:21 PM

I wanted to buy about 50 dollars in cryptocurrencies...what platforms would you use and what payment method?

If you're planning on buying in the long run, look into crypto-friendly payment methods. Some banks are hostile towards cryptos and could bring extra trouble for you.

Quote from: david678345 on April 28, 2022, 05:30:21 PM

would you use one or more platforms to diversify risk in case of hacking for example

If you're trading a huge amount, yes. Such amounts have higher chances of triggering CEXs suspicious/high risk flag.

Quote from: shushu9977 on April 29, 2022, 03:30:45 PM

Binance gives an advantages which any country currency transfers from your account. There is no problem, no rick, no hacking option because you use strong security to protect your account

Hackers Steal $40.7 Million in Bitcoin From Crypto Exchange Binance

No one is immune to hacking.

Myleschetty

member

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Quote from: david678345 on April 28, 2022, 05:30:21 PM

Hello, what factors do you take into account when choosing the exchange to trade with?
What are the best cryptocurrency exchanges in your opinion?

I saw in a video that there are exchanges that offer more advanced orders that other exchanges do not offer ... if I remember correctly was bybit that offered a type of trailing stop loss that other exchanges such as coinbase do not offer.

On the other hand for me the issue of commissions is very important because I open and close very short trades...and also offering margin trading would be important....

I wanted to buy about 50 dollars in cryptocurrencies...what platforms would you use and what payment method? would you use one or more platforms to diversify risk in case of hacking for example or to take advantage of various sign up bonuses? and if you know of any sign up bonus that I could take advantage of?

Some people make the commissions provided by crypto exchanges their top priority when choosing their exchange but i will advise you not to be one of those people, there's no point in an exchange paying commission to attract you and make it difficult for you to withdraw your coin when you need it.
I am not used to Bybit but I heard they open their office in Africa but it is good to go for a long-existing and reputable exchange with reasonable withdrawal free, security (SAFU), have good crypto listed, and also provides liquidity.

shushu9977

full member

Activity: 1121

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First of all, binance is a such exchange which has everything as you want. I am totally satisfied to use the exchange.
In any video or youtube video, you see a lot exchange which is good for trade and also see isn’t good for trade. Hopefully, you research more and know about that. I give you three exchanges which is fully trustworthy such as- binance, kucoin and hitbtc. Besides, there are many good exchanges, you see by google or YouTube video.
Binance gives an advantages which any country currency transfers from your account. There is no problem, no rick, no hacking option because you use strong security to protect your account

TheUltraElite

legendary

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Call your grandparents and tell them you love them

Good customer support and ease of access is what I prefer. But you should check with your local bitcoin community and see what they prefer to prepare a short list.

The term advanced features is more of a gimmick if your choice is only spot trading. In you are into margin trading I have less experience in that.

For commision many exchanges have difference so check and compare with each other before you choose. Very small volume trades might end up with a loss, so calculate before execution.

About getting hacked - no exchange is that safe. So you have to manage stored assets with time.

Don't base decision on sign up bonuses. Focus on things that could give you palpitations in the middle of the night like frozen accounts and withdrawal pending.

Crypto Library

hero member

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Living Life with Hemophilia🤡

Quote from: david678345 on April 28, 2022, 05:30:21 PM

Hello, what factors do you take into account when choosing the exchange to trade with?

In my opinion, for choosing the best exchanger at first we should care about the security of the exchanger, and then we should consider whether it is really established. Then you should do care about the transaction fees.

Quote

What are the best cryptocurrency exchanges in your opinion?

In my opinion, Binance is the best exchanger for all Kinds of traders specially for the Beginners. And then for the lowest transaction fee or free transaction, I would say FTX is the best, then Kucoin. If you are a new trader you should start with Top Alt-coin of the Binance

|MINER|

sr. member

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Quote from: david678345 on April 28, 2022, 05:30:21 PM

Hello, what factors do you take into account when choosing the exchange to trade with?

When it comes to selecting exchangers, I often focus on security and what is the exchange fee or transaction fee is.

Quote

What are the best cryptocurrency exchanges in your opinion?

Considering all this, I would put Binance first as the best exchanger . If you are talking about token listing then Binance list the most trusted tokens here.

Quote

I wanted to buy about 50 dollars in cryptocurrencies...what platforms would you use and what payment method?

You should start with short-term trading . But this is not the perfect way to start trading you should do your own analysis for this if you don't wanna face the loss . Even then , If you wanna trade in my opinion you should start with the top rows Alt-coins of Binance .

Oshosondy

legendary

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...gambling responsibly. Do not be addicted.

Quote from: Cookdata on April 29, 2022, 02:23:20 AM

Pardon! I beg to differ, this is wrong. We have just centralized and decentralized exchanges, custodial and noncustodial have to do with custody of your wallet when you manage your private keys or when a third party manage them for you.

I just want to let him know that there are noncustododial exchanges (exchanges that you do not have to KYC), instant exchanges (exchanges you can exchange with using addresses on your noncustododial wallet but in which the instant exchange can still demand for KYC in some cases) and custodial exchangee (exchanges that have the custody of you coins which is not better at all).

Quote from: Cookdata on April 29, 2022, 02:23:20 AM

Use exchanges that don't request for mandatory KYC before you could trade and withdraw your coins, Kucoin exchange is a good start, Good luck!

Kucoin fall into the custodial exchange category, the exchange is in custody of customers coins and they can decide to freeze any customer's account with them at any time and the customer will not be able to have access to his coins. Kucoin is centralized and custodial and can make KYC mandatory at anytime.

Cookdata

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Not Your Keys, Not Your Bitcoin

Quote from: Oshosondy on April 29, 2022, 01:33:47 AM

It depends on which one you want. There are types of crypto exchanges. ~~Like the noncustododial exchanges, the instant exchanges and the custodial exchanges.~~

Pardon! I beg to differ, this is wrong. We have just centralized and decentralized exchanges, custodial and noncustodial have to do with custody of your wallet when you manage your private keys or when a third party manage them for you.

Quote from: david678345 on April 28, 2022, 05:30:21 PM

_snip_

You see, forget about the commissions, the bonuses, the sweet talk thing about centralized exchanges. Let's start from your capital, You have just $50 to start with as a beginner, how do you intend to enjoy benefits with such a fund? it is very little to enjoy all the sweet rose promises centralized exchanges will want to offer you.
Let's come back to your security and privacy concerns, I have a small token of advice to share with you, don't do KYC on any changes, don't submit your precious passports and ID cards to anyone, once you give them out, you just handed over the most valuable thing you can never get back again, what happens to future of that documents depends on how they use it and it will bounce back to you.
Use exchanges that don't request for mandatory KYC before you could trade and withdraw your coins, Kucoin exchange is a good start, Good luck!

Oshosondy

legendary

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...gambling responsibly. Do not be addicted.

Quote from: david678345 on April 28, 2022, 05:30:21 PM

Hello, what factors do you take into account when choosing the exchange to trade with?
What are the best cryptocurrency exchanges in your opinion?

It depends on which one you want. There are types of crypto exchanges. Like the noncustododial exchanges, the instant exchanges and the custodial exchanges.

If you are looking for privacy, you will go for noncustododial exchanges
If you are looking for easy means and if you trade often, you will prefer custodial exchanges but you can not have privacy with custodial exchanges.
Instant exchanges are a means you can buy cryptocurrencies without KYC but you can be forced to KYC at any time as instant exchanges are centralized.

If you choose one you prefer, we can be able to provide you with better information.

davis196

hero member

Activity: 2968

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Quote

I wanted to buy about 50 dollars in cryptocurrencies...what platforms would you use and what payment method? would you use one or more platforms to diversify risk in case of hacking for example or to take advantage of various sign up bonuses? and if you know of any sign up bonus that I could take advantage of?

It's pretty much pointless to use multiple exchanges to diversify the risk,if you are going to trade with small amounts.
Like other forums members have said,just stick with the big exchanges and don't overthink it too much.
Margin trading isn't for you,if you are a newbie.An exchange having "advanced" and "innovative" features doesn't add that much to the overall quality of the services that's being offered.
The fee structure is really important,if you are going to do "scalping" or "day trading",but I wouldn't recommend day trading if you are a rookie,unless you want to play around with a small amount of money,in order to practice and gain more experience.

mk4

legendary

Activity: 2716

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Paldo.io 🤖

In general summary, just go with the highly reputable exchanges. Don't use that obscure exchange that almost no one has ever mentioned in any cryptocurrency community. Not sure what country you're in, but in general if you're willing to submit AML/KYC probably go with the Krakens and the Binances.

bittraffic

hero member

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Trailing stops is beneficial if the price continues to go up but it will also exit your position during a slight correction. It may work with small capital like$50.
I can only see you wouldn't just invest $50 in the future but more will suggest to only go to one exchanges unless you are willing to send KYC documents to every exchanges you sign up.

Darker45

legendary

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Quote from: Bitcoin_Arena on April 28, 2022, 07:59:26 PM

There are so many factors to look into.

1. Assets listed
If you are into trading so many pairs then Binance would lead but Bybit is trying to catch up by also listing so many trading pairs lately.

2. Liquidity of the asset you want to trade
I would choose a platform with much higher trading volume and liquidity if I wanted to trade a specific asset

3. Fees
Both trading and withdrawal fees can lead me to use or avoid a specific exchange.

For example, I used to avoid HitBTC because of very exaggerated withdrawal fees. FTX is a good option if you want to save on withdrawal fees.

4. Security
I usually go for platforms that have had a good security record

In addition, the particular kind of trader you are might also be a factor. Your choice might differ if you are solely focused on day trading or if you are more interested in futures and margin trading. Your risk tolerance might also matter.

Also, I guess track record beyond security will also be considered. There are a lot of exchanges out there that are known for wash trading and fake volumes. There are also those that have a lot of unresolved complaints on account freezing and blocking.

Despairo

hero member

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The main factors I pick an exchange that I use is security, decentralized and privacy.

Decentralized exchanges wouldn't ask your KYC, this mean your privacy is completely 100% safe, moreover you can use Tor to maximize your privacy. Exchanges aren't immutable and could be hacked, using centralized exchanges would increase hack events since the coins are still on exchange's hot wallet. With the advantages of decentralized, you wouldn't face sudden TOS changes of centralized one.

The truly decentralized exchanges is Bisq.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: Bitcoin_Arena on April 28, 2022, 07:59:26 PM

There are so many factors to look into.

1. Assets listed
[..snip..]

2. Liquidity of the asset you want to trade
[..snip..]

3. Fees
[..snip..]

4. Security
[..snip..]

All of this seems to point out to top exchanges so this is a good start to the OP. Of course there are a lot of exchanges, nevertheless they are not established yet so that is a factor that you need to take into account as well.

And you can also check this link for top exchanges that we have right now: https://coinmarketcap.com/rankings/exchanges/

Bitcoin_Arena

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฿itcoin for all, All for ฿itcoin.

There are so many factors to look into.

1. Assets listed
If you are into trading so many pairs then Binance would lead but Bybit is trying to catch up by also listing so many trading pairs lately.

2. Liquidity of the asset you want to trade
I would choose a platform with much higher trading volume and liquidity if I wanted to trade a specific asset

3. Fees
Both trading and withdrawal fees can lead me to use or avoid a specific exchange.

For example, I used to avoid HitBTC because of very exaggerated withdrawal fees. FTX is a good option if you want to save on withdrawal fees.

4. Security
I usually go for platforms that have had a good security record

batang_bitcoin

hero member

Activity: 2968

Merit: 600

Eloncoin.org - Mars, here we come!

I'll just stay into one exchange as much as possible. I'm not that guy who uses several exchanges at the same time and that means you have to send your identities all over them.
Well, if you're fine submitting KYC then Binance would be the best choice. I don't know with other exchanges that won't require you that if they have a feature of margin but I don't think they have as they're P2P exchanges that I know of.

carlfebz2

hero member

Activity: 2926

Merit: 722

I would recommend Binance nothingless if we do just talk about overall reliability and trust or popularity and much sure that majority of people would definitely agree on this point.

I dont have any experience on using Bybit but if i were you then better stick with top exchangers. Speaking of sign up bonus?
https://www.binance.com/en/event/affiliate_bonus_campaign
You would need somehow on being referred by someone or simply reg with affiliate links.

david678345

jr. member

Activity: 84

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Hello, what factors do you take into account when choosing the exchange to trade with?
What are the best cryptocurrency exchanges in your opinion?

I saw in a video that there are exchanges that offer more advanced orders that other exchanges do not offer ... if I remember correctly was bybit that offered a type of trailing stop loss that other exchanges such as coinbase do not offer.

On the other hand for me the issue of commissions is very important because I open and close very short trades...and also offering margin trading would be important....

I wanted to buy about 50 dollars in cryptocurrencies...what platforms would you use and what payment method? would you use one or more platforms to diversify risk in case of hacking for example or to take advantage of various sign up bonuses? and if you know of any sign up bonus that I could take advantage of?

Topic: cryptocurrency exchanges (Read 176 times)