Topic: Difficulty choosing a trading platform (Read 688 times)

Recently, I use bybit and I'm enjoying it. You can edit to any kind of leverage you want. And currently there are a lot of bonuses going on.
You can try it out.

From last couple of year the way Binance has becomes every goer's platform it has made things more simple and with less trading fees it has becomes a people choice as well . Easy to use, good safety features, less trading fees and if used BNB coin the fees still gets reduced, no KYC for limited volumes of trade if done are just some of their attractive features just makes people to use it.

I join those who recommend the cryptocurrency exchange Binance. I use it myself for a long time and passed verification there. I didn't need a completed KYC to increase my BTC withdrawal limit, because I don't have that kind of money, but to take advantage of additional services such as participating in IEO and margin trading.

KYC / AML, Reputation, Security, Volume, Users friendly, Crypto Assets provided and fee
are some of the factors that I really pay attention to before deciding to register on the trading platform.
But for beginners, I think starting with an exchange that is compatible with fiat currency (Fiat Currency Exchange)
is the most important factor.
Check whether fiat currency and the bank provided according to your needs

It should basically be common sense to follow what everyone else is doing basically. I know that people might go into exchanges that are not really all that well time to time, there has been some bad stuff happened before in the past to people who did that, but the times has changed and things are a lot more legit nowadays and I doubt same would happen.

I still remember when Mt.Gox got "hacked" and how they didn't paid anyone their money, I remember cryptsy and how they ran away with everyone's money, but those were the old days when things weren't as legal  as it is right now and even they got into trouble with the law enforcement, so why would the big places that makes hundreds of millions of dollars in profit right now every year want to scam anyone? They are already making more money than they can spend while being legit.

I think security is very important when it comes to choosing an exchange and you need to choose an exchange that is reliable. If you're still new to it and you're looking for an exchange that will be very easy for you to use, I would recommend that you make use of Coinbase; they have a really good platform that is very reliable and secure. Their exchange is easy to understand and as a newbie you can easily understand it without stress.

What I have mostly seen some people complain about them is their fees, but that's not always a problem for me. If you can check it out and see for yourself, then you can decide. Apart from Coinbase, another good exchange is Binance, it's very popular here and some have already mentioned it. I will only recommend these two, since you're still starting.

Exactly, we need to research about their trading volume as well by looking at their trading orders and the price listed, most exchanges do wash trading to increase trading volume of some shitcoins but it can be observed if we take a close look at the trade orders.

In that sense every exchange can turn into a scam tomorrow.

Question is, whos problem is it? The trader's problem. They need to trade but they cant find a place to trade. This is a difference with the stock market where you can sign up with a broker. Here you have to put your trust in the older and well known names and see which ones works out for you. Generally the ones that people from your country use is the one that you should also use and never leave coins after trading has been completed. This is better said that done because after all, not all orders will be executed immediately.

KYC will depend entirely on which currency you trade Sites that are good and reliable are never asked to try to KYC during a new currency market they're actually posing for scams to try to less KYC. That's why I feel there is no better site like Binance for trading there's no difficulty here.

Well written reply with details information. I can adhere to the fact of Binance, kucoin been a recommendable exchange due to their active operations of providing similar exchange services with high quality customers service but that of bittrex is what I don't seem to understand why you even included it in your recommendation. It's an outdated platform as you initially stated. It was one of the best (if not the best) together with poloneix before the arrival of the likes of Binance.

But their lack of innovation killed the exchange out of the limelight. Choosing the perfect exchange goes beyond just what an exchange offers but also depends on what the traders want as I have early mentioned. Therefore, until the OP comes out to outlines his wants in an exchange, he/she won't get the perfect answer he deserves.

Trading volumes though can be fake it's needed to well studied, there are many factors but it can be use as a good basis in sorting what particular project to invest your money, you need to be more selective as trading is not an easy task, you are dealing with your hard earned money so all the risk that you will going to take should be accompanied by understanding and knowledge.

Since you are new to trading, don't just jumping into the market and start looking for trading platforms. First learn how the market works, what are risks and the profits. Get to know the movement of the market. See previous histories of the market. You will find many "trade stories" on the internet. Follow them those stories and keep track of how things are going. Once you are ready, start with small investment.
Yeah, there are lot of different trading platforms. Try making a short list of the platforms. Then check if there are any fake platform on your list. Finally, try them out one by one and see which suits you the most. Different platform gives out different experience.

If you are willing to do KYC then you have lot of options to choose from, when your trading volume is higher than a normal person.Let's say binance don't need any KYC until 2 btc per day.And also you need to make sure what coins you are going to trade before selecting the exchange because trading volume for particular coins is also important factor.

For choosing a suitable exchange to trade, I apply the following criteria. Any exchange that meets majority if not all of it becomes the one I'd trade with until proven otherwise.

---

1. Security of user funds: Being in the crypto space means we're no stranger to hacks and data breaches. I think we usually have a major hack every passing year. That said, I would only want to trade on an exchange when I'm sure that my funds are safe. We've established the fact that no exchange is free from hacks/attacks but we cannot deny the fact that some are safer than others. That's my pick.

2. Ease of Access & platform features – nothing much to say here other than the fact that I like feature rich exchanges. Some exchange has some really cool features if you know what I mean 😉

3. Liquidity & volume : I'm sure you wouldn't want an exchange without tight spreads and long delays before your orders go through? Liquidity is one thing I look out for before trading in an exchange. For the records, high volumes are usually accompanied by movements in price. I like to he there to catch those moves 🔥

---

These are the 3 main things I look at for. Others include the quality of their listed coins/tokens including the trading pairs available. On that note, I use and recommend Binance exchange. It's one of the best exchanges currently available today.  You can also checkout Okex, Kucoin (questionable) or even Bittrex (the market leader in 2016/2017).

You can choose up: Binance,Okex,Kucoin,Huobi.. or choose up on here on what exchange do suits you https://coinmarketcap.com/rankings/exchanges/liquidity/
Just make it sure to choose the top ranking ones than considering those lower tiers.When in talks on which one is user friendly then i would go for Binance. Reason on choosing up a platform? I do always look
for community support or demand , next would be liquidity or volume and next would be UI/UX.

Don't be tempted by trading platforms that offer a lof bonuses and convenience especially it is new platform. There are many cases about it, I mean new platform which offer bonuses and even guaranteed to all user will always give profit because most of them are scam eventually. Same like you, I'll choose an exchange which have a good reputation such as binance. At least it will make me comfortable when I store my money there. As for profit that I get it is depend on my strategy and my experience, I can't blame the trading platform that I can't get profit because it is fully depend on my knowledge.

It's not easy to choose a trading platform, because almost all trading platforms offer the same benefits. We must choose
carefully. I chose a trading platform based on real trading volume, low trading costs and complete trading features.So far
only binance exchanges that meet the trading platform criteria that I want. I recommend binance exchanges as the best
trading platform for now, because I have proven it myself.

Binance is the most commonly used for a few newbie users but newbies should not directly trade to any exchange platform first without having an experience of how trading does work. It's better to choose the best trading platform but it is also best to learn the basics of trading before facing them in real time.

I will be recommend both of mobile and desktop friendly exchange which is known as Binance. Currently high reputed and major stock exchange. I do not think difficulty to find trading platform, if Binance is popular for trading as well as hold cryptocurrency. It is much safer from others exchanges. I just talking about one major exchange, but other many exchanges also suitable for trading.                    

For there are many factors such as fee and liquidity.
But first before all these factors above KYC is the most important part. I believe none in the crypto world should ask you for the real ID because the point of crypto is to be stay anonymous all the time.