I think there's no special having more than 3 exchanges to trade, I don't know how you can manage yourself taking care of those accounts in day trading, and maybe if you have 1-2 trading would be enough IMO. Binance and decentralized exchange like Pancakeswap are enough, they had a lot of coins supported which is I think there's no need to find another exchange.
A day trade is a very crucial part of trading, if you can't give enough time to manage, it will result in losing your initial capital or worse than that. The most important on exchange that can be used in day trading is that has supported a lot of coins and tokens and it has a high trade volume.
Topic: How many exchange accounts do you need to daytrade? (Read 291 times)
Give me list of all decentralized exchanges.
I assume they are
pancakeswap
uniswap
I actually use different exchange for my trading platform but specially top ranked exchanges Binance, Kucoin and gateio Centra exchange and pancakeswap for Binance Smart chain and quickswap for polygon platform as my day trading platform. I assume they are
pancakeswap
uniswap
Why would you need to trade on different platforms when usually one exchange in enough to trade ? I usually use binance to trade and i do not think i need any other exchange. There are very time times when i need to switch the exchange if i need to trade a coin which is not avaible on binance. Also sometimes you may use uniswap or pancakeswap for swapping coins which are not avaible on centralzied exchanges. But in a nutshell, one primary centralized exchange is enough for trading.
Some people are exploring their opportunity using DEXs other than CEXs. My go-to exchange also is binance as I can trade p2p with my local fiat. But if the coin or token is not listed in binance, that's when I will use another exchange. Whereas, for active traders, they are looking for exchanges where they can get good profits. However, using in some of these DEXs require higher gas fee like UNI. But it all depends on your goals here. If the token is listed in UNI only, what other choice can you take, right?
Give me list of all decentralized exchanges.
I assume they are
pancakeswap
uniswap
I actually use different exchange for my trading platform but specially top ranked exchanges Binance, Kucoin and gateio Centra exchange and pancakeswap for Binance Smart chain and quickswap for polygon platform as my day trading platform. I assume they are
pancakeswap
uniswap
Why would you need to trade on different platforms when usually one exchange in enough to trade ? I usually use binance to trade and i do not think i need any other exchange. There are very time times when i need to switch the exchange if i need to trade a coin which is not avaible on binance. Also sometimes you may use uniswap or pancakeswap for swapping coins which are not avaible on centralzied exchanges. But in a nutshell, one primary centralized exchange is enough for trading.
OP, you've to improve on your writing style. The huge line spacing doesn't look appropriate. A single line space would be enough to show paragraphing.
For example if someone is a daytrader and trades altcoins, if you have access to coinbase and binance... that is more than good enough. Then if you add say FTX, kraken, kucoin, then you pretty much have everything set up.
I've accounts with three out of the five exchanges listed there. However, if I had my way I would've remained with just one – Binance. There's nothing special in having so many exchanges for trading if I could help it. It's the same way a lot of traders populate their trading platforms with fancy indicators to give them a false sense of a professional trader. There's no advantage to that. If you've an asset you want to trade which isn't listed on any of the exchanges you've, for me I would let it go instead opening another exchange account. You don't want your personal data flying everywhere online. 
I am content with my Binance account for most part of my day trading as we can find most of my preferred coins in Binance and volume is a big plus for us, but i do have account in Huobi, Gate.io and Kucoin since you will find almost every coins with these three exchanges. But it's bit difficult to manage multiple accounts. I have account with all the major exchanges but 70% i will use Binance and remaining 25% i would use the three exchanges i have mentioned and rarely other exchanges like coinbase, FTX and sometimes DEX.
Binance is far much better than making use of Coinbase. I make use of both, but why I prefer Binance over Coinbase is because they list a lot of coins and the trade volume is very on there than Coinbase. So, Binance is definitely good choice to make for anyone who plans to invest in as many coins as possible. You would only see some coins on Coinbase and they will tell you it’s not trade able. But in a situation where Binance is not functioning in your country, then you would he left with either choosing Coinbase and managing the lined options you would have or you can choose Decentralized exchanges. But last year Coinbase listed so many coins, which is quite unusual with. Let’s hope they are likely to continue that way.
I really High recommend you use binance exchange for day trade it very user friendly alot of new crypto currency are traded there with high volume with low risk. Alot of tokens where you can choose and use for day trade. Choose one or two exchange not many exchange required. For trading. It's very easy to use and understand
It is really a good suggestion i also wanted to to give this .However its always good to use Binance for day trading cause for day trading you need to have huge amount of volume if not you may make loss .However you can also use Kucoin ,it is also a good exchange with a good volume .You can find more popular pair on there so you can choose what you want trade for .Remember day trading is high risky you need to have much experience behind that if you wanna good profit in every trade . 
I think the best thing you can do in a situation like this is to go for a DEX (Decentralized exchanges or peer to peer community based transaction). These are the only exchanges where you wouldn’t be restricted at all or asked to do any form of KYC.
These exchanges that you have mentioned (Coinbase.com and Binance) are all centralized exchanges, and since they are regulated by the government, they would always require the users to KYC before having the full access to every features that they have on their platform. Some of them wouldn’t even let you trade until you have done the KYC. So, the best thing to make use of is the DEX. You would be able to buy and sell any cryptocurrency of your choice without the need for intermediaries.
These exchanges that you have mentioned (Coinbase.com and Binance) are all centralized exchanges, and since they are regulated by the government, they would always require the users to KYC before having the full access to every features that they have on their platform. Some of them wouldn’t even let you trade until you have done the KYC. So, the best thing to make use of is the DEX. You would be able to buy and sell any cryptocurrency of your choice without the need for intermediaries.
Having just coinbase is enough would you agree? But if you are restricted to how many exchange accounts you could have... due to your location...then what are your options if you want to trade altcoins?
If I can only use Coinbase to trade because of the restricted area, I think I can accept it, but I will search for other ways to trade. I am sure that there is a way for me to get one or more exchanges to trade. It depends on how you want to figure it out.Example say you could only use coinbase and can't access binance or even binance.us. Thus any of those new coins that you see come out, you can't buy unless coinbase lists them. What do you do? Binance requires KYC but also they don't allow people from certain regions. You cannot vpn because even if you do, well when they KYC you, then you cannot do anything.
I will be okay if I can't buy the new coins because that will be too risky to trade those coins. It will be better if I can access Binance and trade on that exchange because I will have many coins to trade.So how is it possible for someone to trade but more specifically daytrade... if say coinbase is the only account they could use in their location? Say every other exchange, they are restricted due to their location. I heard there is Defi but I don't know anything about his. I also heard of pancakeswap... so that doesn't care where you are located and no KYC?
You are free to use Defi, but you need to know the risk, and those Defi exchanges don't need KYC. But if that is a day trade, I think that depends on you because you should know what you choose.For example if someone is a daytrader and trades altcoins, if you have access to coinbase and binance... that is more than good enough. Then if you add say FTX, kraken, kucoin, then you pretty much have everything set up.
No need to use too many exchanges to make daily trade. It is more than enough to use one exchange for daily trade.But what about people that want to trade those new coins whether its a memecoin or not and its not in coinbase yet? How do people handle this? I remember how back then people wanted to buy dogecoin... only to find out... hey coinbase doesn't have it etc.
People need to figure out how they can handle that matter because people will have different situations and conditions. We need to be more creative to find what we want, and the internet is your answer 
Give me list of all decentralized exchanges.
I assume they are
pancakeswap
uniswap
I actually use different exchange for my trading platform but specially top ranked exchanges Binance, Kucoin and gateio Centra exchange and pancakeswap for Binance Smart chain and quickswap for polygon platform as my day trading platform. I assume they are
pancakeswap
uniswap
legendary
Activity: 2240
Merit: 4133
eXch.cx - Automatic crypto Swap Exchange.
But what about people that want to trade those new coins whether its a memecoin or not and its not in coinbase yet? How do people handle this? I remember how back then people wanted to buy dogecoin... only to find out... hey coinbase doesn't have it etc.
You can only trade a coin you have access to so if you want to trade a particular coin but don't have access to it then move on to other coins. They are so many out there that you shouldn't kill yourself over not been able to trade a particular one. The altcoin market is full of so many opportunities that money can be made from basically trading any project not minding if it won't be around for a long time. You can basically trade the hype of certain projects and come out successful.
Engaging in this style of trading should be approach with caution though as the nature of the altcoins market can kill any project from the radar and leaves you in losses, also engaging in this style of trading means you're exposing your funds to risks such as rug pull etc.
Actually, I am not a day trade. I am short term and this is in spot exchanges. I only use 2 two exchanges. Sometimes, only visit other small exchanges when I only have certain tokens listed there and then convert them to certain coins in order to available to send to my common exchanges.
I think that If I become a day trade, I also cannot do trading in several exchanges. 2 exchanges are enough to maiximize my focus
I think that If I become a day trade, I also cannot do trading in several exchanges. 2 exchanges are enough to maiximize my focus
~snip~
But it's bit difficult to manage multiple accounts. I have account with all the major exchanges but 70% i will use Binance and remaining 25% i would use the three exchanges i have mentioned and rarely other exchanges like coinbase, FTX and sometimes DEX.
^ This is true and you are definitely right, it is hard to manage multiple accounts on an exchange and of course, it required fees in every exchange that you have used. I think focusing on one exchange makes you better if you are a day trader but of course, use the exchange that supported a huge altcoin and only Binance had this qualification. This is also to cover your fees when you are in one exchange, the more exchange you have the more fees that you are going to pay. But it's bit difficult to manage multiple accounts. I have account with all the major exchanges but 70% i will use Binance and remaining 25% i would use the three exchanges i have mentioned and rarely other exchanges like coinbase, FTX and sometimes DEX.
You only do day trading on an exchange where you can freely trade without any restrictions, so if you want to buy other token that is not available on your trusted site then you have no choice but to open an account to other exchange or use DEX, this will always depend on you and depends if the new tokens are worth buying.
Day trading is not easy especially if you use many exchanges, I'd rather focus on one exchange and do my work there.
Day trading is not easy especially if you use many exchanges, I'd rather focus on one exchange and do my work there.
Exactly. I don’t know why OP is stressing on multiple exchangers to day trade? Day trade is nothing like you buy on one exchanger and then sell it on the other exchanger. It’s completely wrong order of trading. Day trading is product of your intense timing, research on the project, and technical analysis.
You don’t simply need more than one exchanger to this. It’s just that in day trading you have to be very quick while making the trade. Things are wild volatile here so rest is the story.
You only do day trading on an exchange where you can freely trade without any restrictions, so if you want to buy other token that is not available on your trusted site then you have no choice but to open an account to other exchange or use DEX, this will always depend on you and depends if the new tokens are worth buying.
Day trading is not easy especially if you use many exchanges, I'd rather focus on one exchange and do my work there.
Day trading is not easy especially if you use many exchanges, I'd rather focus on one exchange and do my work there.
Exactly. I don’t know why OP is stressing on multiple exchangers to day trade? Day trade is nothing like you buy on one exchanger and then sell it on the other exchanger. It’s completely wrong order of trading. Day trading is product of your intense timing, research on the project, and technical analysis.
You don’t simply need more than one exchanger to this. It’s just that in day trading you have to be very quick while making the trade. Things are wild volatile here so rest is the story.
I am content with my Binance account for most part of my day trading as we can find most of my preferred coins in Binance and volume is a big plus for us, but i do have account in Huobi, Gate.io and Kucoin since you will find almost every coins with these three exchanges. But it's bit difficult to manage multiple accounts. I have account with all the major exchanges but 70% i will use Binance and remaining 25% i would use the three exchanges i have mentioned and rarely other exchanges like coinbase, FTX and sometimes DEX.
Well of course you need at least once exchange account to trade... then how could you even trade? Now if you only had coinbase, you basically can't even trade much altcoins right? Or imagine like bitstamp where they even give you lesser coins to trade.
Now if you have coinbase and binance, then thats more than enough because you basically have access to most coins right? But not coins from pancakeswap/uniswap with those meme coins like shiba tron etc?
Put it this way. If you only could use a few exchanges, which would be your must have? I feel like you need one to cashout via fiat... like coinbase and one for altcoins like binance.
Now if you have coinbase and binance, then thats more than enough because you basically have access to most coins right? But not coins from pancakeswap/uniswap with those meme coins like shiba tron etc?
Put it this way. If you only could use a few exchanges, which would be your must have? I feel like you need one to cashout via fiat... like coinbase and one for altcoins like binance.
It's a very unique question.
I think you need minimum one exchange account to trade on it. There is no need to make many accounts. And it's very difficult to manage all accounts. So, I prefer you make account on binance l, Coinbase, ftx exchange etc. These are all top exchanges of the world. You can choose anyone of exchange and start your trading journey with it. These are all good platforms for you as a trader. Day trading is not so easy. We have to learn different indicators for judging graphs.
I think you need minimum one exchange account to trade on it. There is no need to make many accounts. And it's very difficult to manage all accounts. So, I prefer you make account on binance l, Coinbase, ftx exchange etc. These are all top exchanges of the world. You can choose anyone of exchange and start your trading journey with it. These are all good platforms for you as a trader. Day trading is not so easy. We have to learn different indicators for judging graphs.
Look at the biggest gainers in the last day. Shiba tron and Baby Squid Game. If you only use coinbase, you cannot buy these coins.
I see both of these are available on pancakeswap. Anyone can use that without restriction right?
Well you can see it here [ https://coinmarketcap.com/gainers-losers/ ].I see both of these are available on pancakeswap. Anyone can use that without restriction right?
All these shitcoins have been hyped too much right now and I don't think if you chase profit on it perhaps the risk was still there. Most shitcoins are on Pancakeswap and Uniswap exchange. Meme coins now gain too much hype you should still be careful upon making a decision if you have a plan to invest.
However, if you avoid restrictions DEXs are good for you. [ https://coinmarketcap.com/rankings/exchanges/dex/ ]
Checking on my authy application almost all exchange have listed authicator and I think use all exchange market, exactly active on bounty campaign last several year make me need to prepare all exchange market but now just left few exchange only as global. right now have Binance as my personal exchange market, then some time use Kucoin but usually active right now with pancake exchange market. There are many shit coin listing on Pancke and I try lucky there how to earn profit with shit coin.
Having a different exchange is ideal too depending on the purpose if OP does not want to have KYC I guess the most ideal is Kucoin, and of course, the trusted exchange platform such as coin base, binance, MEXC and crypto.com have different exchanges have perks too like if the transaction of the other platform, for example, eth network, sol network, or matic network has an error to them or upgrade the other platform is open to still commit a transaction.
Look at the biggest gainers in the last day. Shiba tron and Baby Squid Game. If you only use coinbase, you cannot buy these coins.
I see both of these are available on pancakeswap. Anyone can use that without restriction right?
I see both of these are available on pancakeswap. Anyone can use that without restriction right?
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