Topic: Difficulty choosing a trading platform (Read 668 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.

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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 🔥

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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.

I think the most important thing is liquidity about the different exchanges that are being provided which have high or low volume you should choose the exchanges which have best reputations according to that the other thing you should be aware about the fees that are being consumed during the trading choose the exchange which have low fees.

There are many people have already suggested you many platforms but I like to make sure few things before you are going to start using one/few of exchanges out of those suggestions.

You can choose an exchange which is available in your country like the exchanges are not available completely or restricting few features for some countries. You must make sure your selected exchanges providing all its services or all the services you are looking from an exchange. For example, you may prefer to have debit from an exchange but that exchange may not service it to your country.

You must be ready to clear KYC with all your government provided documents. Some exchanges are assuring about not requiring KYC for ever. So, you need to educate yourself like you are ready for KYC or not and its requirements and how to clear it.

I also use mobile applications to eliminate the difficulty of choosing a trading platform No matter where I am I go in and find out which platform is the best so the difficulty can be easily eliminated. I also do more business on mobile However the best way to trade is Binance Do business with apps using mobile apps.

I have nothing to recommend to you but only use Binance. I'm not part of their team but they are highly recommended. I've a lot of friends which are their staffs because they treat their clients very seriously thus every of your concerns will be entertained as long as it's relevant to their platform. You may visit their website by clicking the image below:



Ps. I'm not part of their team nor promoting them.

For me, aside from the one mentioned above of how to choose the best trading platform, I would pick that would be convenient to use. Since I want not all the time I am on my PC then it would be great to use a trading platform that has a mobile application which I can monitor anytime and anywhere. I am searching right now on what fits me especially the interface if it is beginner friendly along with the fees and so on and so forth.

If always rely on youtube, it isn't our assurance to learn into something sustainable because they only based on their own theory. The reality of trading can be a harsher thing as to compare with theoritical aspects. Some might find it interesting, but in the end they've lost hope along the ways due to volatility of the market.

that's actually good suggestion. because if the OP has hard time which exchange he will use, he can try some of them - at least those that are on top of his list. For sure, you will have your own list of exchanges depending on what coin you are going to trade with. try small amount of money and experience yourself what it is like to trade in the exchange, it is always better to have your own experience rather than rely on someone else. first hand experience is always the best.

also, consider those exchanges at the top. because in that way, you know they will not screw your funds and getting help would be much easier.

Choosing the best and user-friendly exchanges will help you to feel comfortable in doing trade and it matters a lot.

I have to recommend Binance and Kucoin. Not because it has a name in the market already but also of its market volume.
But of course, the results of your trade will also matter the chosen coin/s you use for trade. If you are new in this field, you just have to focus on one exchange only. Aside from that, never stop learning but rather to keep searching and to find good trading tools that could help you to fully understand trading.

You have to consider so many things in choosing a trading platform. Look for it's good reputation, it's security and a good platform. I usually trade in Bitmex, Binance, Tokenomy and so far they never failed me. Especially that most of the time I used mobile phone in trading, thus those were compatible and mobile friendly.
 
 On top of that,  Binance is one of an easy to use trading app. Or you can check some of trading exchanges which also offer good performance with low fees.

For long that we are having a problem with youtube towards crypto related content creators, I personally suggests to read manuals or books regarding trading. Not promoting to boycott youtube but the fact that youtube takes an action between the said contents are already a hint for us that something isn't right happening with those channel/videos, a scam in the making or frauds.
That's recommendable, live session is also a tutorial, a demonstrative way for the audience to adapt not only the trading but also the platform. As much as possible take only 2 or 3 exchanges from different tiers so you will be able to get the differences that you may take advantage of in the future.

You have been one year on this forum and I just suprised that you still don't know the best platform/exchange to trade.

What have you been doing all this time? Don't spend your time to find giveaway or bounty campaign it will make you stuck at the end.

Also you don't need to make this thread just google it and you will find a bunch of platform along with the review from most poeple. And I'll bet that most of them will choose binace as the best exchange at this time you can choose it.

Contact the teacher of all time and people - YouTube.
Find advanced and popular traders and see their live sessions, as well as their reviews of various crypto exchanges.
I started with this. In addition, you will be qualitatively pointed out all the nuances and pitfalls that may occur on platforms.

How if you try one by one of the trading platform to see which one that you want to use. I think by doing that, you will know what the advantages and the disadvantages for each platform are, and you can know what platform that suits you to trade. You can deposit some money if you want to know how it looks like to trade on each platform. Perhaps, you will get another experience that will be useful for you, and you can know which one that you can recommend for your friends too.

I can suggest to you are those exchanges that are friendly user first, so that you can operate it easily.
Like Binance, ByBit or Kucoin. These exchanges have also mobile applications where you can trade just using your phone.
Besides for being friendly, make sure you read their terms and conditions before using them so you will not encounter any issue in the future.

To add from the above pointers, I prefer exchanges with fast response of technical support. Like for example, if you have withdrawal problems, and you contacted them, at least they have reply within 24 hours, if it will be days or weeks, it is like you are waiting in vain. Liquidity is also important when you are trading. You should check that before sending any coin to that exchange because you might end up waiting for days just to trade a particular coin. And finally, once you have finished your trading, don't forget to withdraw or transfer your funds to your secured wallet. Even if the exchange is popular like BNB, it is always better not to leave your coins in an exchange.

Choosing a trading platform totally depends on the trader's expectations and what he/she wants to trade. Assuming a trader will be interested in trading bitcoin, my recommended cryptocurrency exchange would be quite different from that of a trader that's interested in trading mostly altcoins or future market.

The funding/trading options available on the exchange will also be put into consideration, how will the trade like to fund his or her account since not all platform offer's an option of depositing fiat meaning for a trader to begin trading in that particular platform, they'll have to deposit other listed coins on the platform like bitcoin or ethereum, etc.

Also if the trader will like to use advance trading tools like stop loss/buy limit etc it'll influence the options of exchange to recommend.

You are right buddy, left to me Binance is arguably the best cryptocurrency exchange out there, the team behind the exchange is doing anything possible to maintain the already set standard and hardly a month goes by without binance announcing innovative concepts that will make them serve their customers better. Binance is one of the cryptocurrency projects out there that are pushing cryptocurrency forward for daily usage, it has more than 15 fiat Gateway incoporated within its ecosystem to provide traders the flexibility of switching between Fiat and cryptocurrency. The CEO annouce not long ago the acquisition of CMC and the creation of binance debit card

If i want to chose randomly centralized exchange then binance, kucoin, okex, hubio, coinbase etc will be in my list. For decentralized exchange idex, binance dex, Bisq will be great to me. If you don't know about difference between centralized and decentralized then read this helpful article.

But there are lot of things that you need to careful about. Like.. that exchange you choose it's support your country or not, if they want kyc for some reason then you are able to do it or not, transaction and withdraw fee, always try to find high volume exchange for you asset, how much good or bad their support line, transaction time etc.


And in which case you thought these are the best ones out there. Personally i never heard of those exchange seems like they are using fake  volume for their exchange. And there was not much coin to trade. Probably those are not best one i think.

Reading through your request, the only exchange that keeps ringing a bell in my head is Binance exchange because it's simply the best in the whole cryptocurrency space. So far now, it is the highly reputable one and the most trusted exchange. The emergence of binance in the year 2017 brought with it a new revolution to cryptocurrency trading market and i must commend the ever readiness of the brain behind the exchange in adopting new innovative concepts towards making cryptocurrency trading more seamless. In term of volume and liquidity which greatly determines the trading efficiency of cryptocurrency, binance is the exchange with the highest trading volumes,  highest trading pairs (both Fiats and crypto)  as well as trading options. There are lots of other great features of binance exchange, do more research about them

Binance for centralized exchange
Bisq for Decentralized one

There are lots of good exchange as of this moment but what most people preferred is Binance as we can see on how many been trying to suggest this exchange.
When searching up for trading platform then it will vary on how it do suits you, just make it sure that its been commonly known so that we do avoid on being scammed.

When I am new to things like this and maybe I’m looking for a good exchange to make use of, I first start with the big names. So, if you’re looking for a good exchange that you can make use of, I would say that you should start with the big names in the Blockchain and crypto industry. Talking about exchanges, the top exchanges, we have Coinbase, Binance, Kraken, Bittrex, Bitfinance, and other top exchanges.

I will recommend that you start with Coinbase, it is very easy and you will quickly get the hang of it. When you start to advance your skills you can then start checking out other top exchanges like Binance and the others I have mentioned or any other exchange you come across and feel you like. As for now, you have to be playing it safe and use the safe exchanges.

Crypto to crypto/Crypto to fiat/ p2p/ centralized/ decentralized there are the types of trading platforms available so let us clear more about what you are looking for.If it is normal crypto to crypto then exchange like Binance,Okex,Kucoin are great for anyone since they got more reputation.

You should probably check first the tutorials in Youtube on how to trade in certain exchanges like Binance, as it is a good and reputated exchange to trade at. Just be careful to not spend for tutorial courses if you're not really committed to one, because I've seen quite plenty of Youtubers offering those.
Make a new account already in Binance, and worry about the other exchanges later on when you're starting to get hang of it.

That's correct! Having a good trading platform is just a plus on your trading experience, Having a good platform can give you such good experiences but it's not certain that you will earn or will win the trades you are doing. Being prepared on the platform you are entering is one of the essentials of trading. Having required knowledge, starting capital and a good amount of trust in yourself is enough to have good trading experience in a good trading platform.

Since a lot of members here already gave you tips about a trading platform I'm just here to remind you that having the perfect choice for a crypto exchange won't guarantee you profits. Instead of concentrating what trading platform to make I would rather choose to study about technical analysis and the prospective cryptocurrencies I'll plan to buy.  A lot of newbies lost a lot of their money when they enter the market without any knowledge about trading or investing so it's their mistake on rushing in the market too quickly.

Well, that depends on what you want to do with the trading, if it is fiat to btc, if it is fiat to altcoin, if it is btc to altcoin, if it is leverage, if it is margin. I mean there are many methods of trading that you can do if you want to and all of them are very different from each other.

I would say binance is clearly the best trading platform, right now they are mainly doing usdt-btc-alts so right now if you want to deal with fiat you can't really use binance but if all you want is bitcoin to altcoin pairs then I would highly suggest binance, they are basically cornering the whole market nowadays, even with all other exchanges growing so big, binance just keeps on starting something new and new all the time to keep growing to gather more people to their website.

Talking with good platform trying for beginner maybe exchange market available with many altcoin kind listed on their exchange market like Binance, Huobi and bittrex, but you must ready your account with KYC data. Don't worry all your document submit will be safety with trusted exchange market and never doing the same way with bad and shit exchange for giving your document ID.

It's quite important to choose the best exchange at the beginning of trading. Most important thing is how a exchange safe for you and which exchange is familiar with your jurisdictions since there is an issue with KYC procedure. On the other hand those exchange have higher volumes you may trade their quite fast due to demand of buy/sell. Most likely you may choose Binance at the beginning, it's quite safe and you may use without KYC although there is withdrawal limits of 2 bitcoin per day. Don't be crazy during trade and don't fall in FOMO. Just learn first with patience.

Can you please explain briefly how these two exchanges are better? I think they don't have enough reputation till now and volume isn't much higher as well. Before recommendation you should describe some more reasons.

Most of the users who doesn't have issues with privacy and submitting KYC documents are often choosing Binance where it has everything from reputation to liquidity. You can never go wrong when more than half of the traders are suggesting Binance. If value privacy there are also tons of DEX to choose from but you will eventually try the centralize one if you are into trading.

Go with Binance!

Its noob friendly yet you can toggle between basic or advance user when it comes to interface and also they do have 2BTC limit/day for unverified accounts which is
already a good thing for most people. I do saw that youre a total noob on crypto trading and i do want to ask if you do start from zero or already had some ideas to trade
on other markets? If not then better start with the basic and just dont dive into the waters without any proper preparation because you are just basically
burning your money.

Babypips.com would be a great help.

you can see the top Cryptocurrencies Exchange Ranking by Trust Score https://www.coingecko.com/en/exchanges
im preffer to binance because they have good reputation from long time..

I recommend you to try Binance as many people here use Binance too.

How to choose the right platform? Hm, it's not quite easy because the first thing is you need to feel it. Let me give an example, if you are comfortable to trade in Binance, you will still use the platform no matter if that exchange needs KYC for their members, they have a high fee in withdrawal or trade's fee. But when you don't feel comfortable, you will move and search for the other exchange. So feel it, and if it's necessary, you can try to register one by one on the exchange so you can have the experience from each exchange. It's something that cannot tell with the words.

You have so many recommended exchanges list like Binance, Okex, Poloniex, Bittrex, Bitex, Bybit, and else. But you need to find by yourself which exchange that can make you comfortable to trade.

One of my basis for choosing a trading site, is it must be trustworthy to make sure they wont run with my funds. So i do some background research if the exchange has twitter if the founder exist, good reviews and smooth and not laggy experience and it has good customer service. Because most of the exchanges right now, doesn't really care about their customers well being.

Also here's my recommendation: Bybit and Phemex i think they're the best ones out there.

There is no one single exchange that could be recommended to everyone. It depends on some factors:

• What country are you in?
• What trading pairs are you planning on trading?
• What kind of deposit do you plan on doing?

If you're trading altcoins, probably Binance or OKEx.

If you're mainly going to trade fiat:BTC or fiat:ETH, then probably Coinbase Pro if it supports the country you're in.

First point would be the platform's reputation. You don't want to go where there are problems or high delays in handling various issues, including the deposits and withdrawals.
Then the liquidity on the trade pair you want should be at reasonable levels.
The fees - trading and also deposit/withdrawal - are quite important too.
After this I think that's all personal choice. Some prefer the ones where KYC is not needed, for example.

You should also be prepared to see a lot of annoying trading bots wherever you go. In some places they may be more or less annoying, you'll have to look around for yourself.

Hello to all users.

I am new to crypto trading, but I want to discover this new world, and therefore it is very important for me to consult with experienced people.

Tell me please which platforms would you recommend to me? Those that would be easy to use.
What is important in your opinion when choosing a platform for yourself? What is worth paying attention to?