You will need a well established and full fledged exchange if you want to day trade particular coins.
If those coins are not in your region then you will have to use VPNs to get access to those exchanges but since most of them now use KYC your options are very limited.
You can use a P2P exchange/decentralized exchange and day trade the coin.
But again, the best option is to get the KYC done on an exchange which works for your region.
Topic: How many exchange accounts do you need to daytrade? - page 2. (Read 339 times)
If it is for a day trade, I will better only choose 1-2 exchanges for some top coins.
I use Binance and also one of the local exchanges in my country.
It is very enough because day trading needs more focus. Many more exchanges will divide our focus and we just need to spend more time.
However, if I am going to trade the new coins, I won't trade them daily. Many people may also be concerned to have day trade in some new coins. But I am personally not doing that. I only will use another exchange if possible if I really need to trade the new coin, moreover when I really want to trade them.
I am not a kind of high risk taker, so, better to trade based on top coins
I use Binance and also one of the local exchanges in my country.
It is very enough because day trading needs more focus. Many more exchanges will divide our focus and we just need to spend more time.
However, if I am going to trade the new coins, I won't trade them daily. Many people may also be concerned to have day trade in some new coins. But I am personally not doing that. I only will use another exchange if possible if I really need to trade the new coin, moreover when I really want to trade them.
I am not a kind of high risk taker, so, better to trade based on top coins
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.
If the project is fairly new, you can ask the developer on their social media. If the project isn't really new and has been listed on CMC or Coingecko, check it and click market button to see which exchanges had a volume of that's coin you're looking for.
I don't think if we want to daytrade we need so many exchange accounts to do it, you can use 1-2 only and it's enough. Using many accounts just make you headache to handle it and you might hold the coins on the exchanges, which is not good for safety.
I wouldn't really consider new projects that are barely getting listed anywhere as a thing to do daytrading. That doesn't really make any sense at all. I would guess that there is a good reason for many people to trade on btc-usdt pair, that makes a lot more sense.I don't think if we want to daytrade we need so many exchange accounts to do it, you can use 1-2 only and it's enough. Using many accounts just make you headache to handle it and you might hold the coins on the exchanges, which is not good for safety.
I know that it is the highest volume but also it is easier to do day trading as well. First of all it is on all exchanges, that is literally the first thing that exchanges add, before anything else. After that there is also the fact that we are talking about liquidity, meaning you could do any type of trading daily on it if you want to. You don't have to do btc-usdt but you could do something high like that.
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
New coins that are good enough will have more chance to get listed in the good exchanges that you mentioned above but for shitcoins, they are less likely. The only shitcoins that I know that have been successfully listed in coinbase are shib and doge. These two coins along with other varieties are however available in binance.
If you are more into defi and shitcoins, all you need are a decentralized exchange like pancake swap because there are no limitation with them but that makes them more risky than a centralized exchange. The number of exchanges to have might depend on what kind of trader you are. Arbitrage trader might need more but normal trader can only need one to two.
If you are more into defi and shitcoins, all you need are a decentralized exchange like pancake swap because there are no limitation with them but that makes them more risky than a centralized exchange. The number of exchanges to have might depend on what kind of trader you are. Arbitrage trader might need more but normal trader can only need one to two.
It doesn't end in having so many accounts, one important factor is, you having enough funds to fund all them accounts on a single or several exchanges. Another question one has got to concern him or herself with is that; of what use is it having several accounts with regards to trading. Are there a limit to how much or how many trades one can put out in the market or is the trading limited to only a certain number of coins?
It virtually doesn't make sense and it's rather safe to have or trade on a single or perhaps 2 exchanges as it in a way, diversifies your portfolio and keeps you off risk or ha less, scammers and over trading.
It virtually doesn't make sense and it's rather safe to have or trade on a single or perhaps 2 exchanges as it in a way, diversifies your portfolio and keeps you off risk or ha less, scammers and over trading.
I think I also follow this line of reasoning. I don't see the need to have plenty of account especially if it is not easy to open them like OP is asking. It is by choice to trade in any exchange, if the exchange come with rules too high to comply to you check the next exchange and if one exchange don't have the coin you want to trade, you make choice for another coin, instead of so much worry about certain things. Trading should be enjoyed and should be in a conducive exchange.
If the project is fairly new, you can ask the developer on their social media. If the project isn't really new and has been listed on CMC or Coingecko, check it and click market button to see which exchanges had a volume of that's coin you're looking for.
I don't think if we want to daytrade we need so many exchange accounts to do it, you can use 1-2 only and it's enough. Using many accounts just make you headache to handle it and you might hold the coins on the exchanges, which is not good for safety.
I don't think if we want to daytrade we need so many exchange accounts to do it, you can use 1-2 only and it's enough. Using many accounts just make you headache to handle it and you might hold the coins on the exchanges, which is not good for safety.
For me, it is all going to depend on how good you are in Trading, because having too many accounts means you'll also multitask and it could lead sometimes to a big mistake because you forget something, etc. I only trade with one account, that's more than enough for me already to trade BTC, ETH, and other altcoins. It's good to trade when you know you could monitor it truly than to have mini heart attack moments because you're rushing to close or open a trade.
For day trading, I will use Binance as the exchange is one of the biggest crypto exchanges and there is no need to use the other exchanges because that can confuse you to trade. In Binance, you can find many coins you can use to trade daily, but without skills, you will have to pick one or two coins to trade. You do not have to use two or more exchanges for daily trade if you can not handle the trade at the same time. By using one exchange, you will be more focused on analyzing and finding the coins.
personally, for day trading, or holding my coins for a long time, I only use 1 exchange. I think that's enough. as long as the exchange is very reliable, it's no problem. however, it's different if the coin is only on a few exchanges, I might sell it and send it to the 1 exchange that I use as a priority. well, so, it all depends on the circumstances. but personally, I only use 1 major exchange.
Give me list of all decentralized exchanges.
I assume they are
pancakeswap
uniswap
Dex exchanges are not limited to those but that two are quite the most popular these days. Aside from coingecko's dex list. There's also the coinmarketcap that you can use as your reference.I assume they are
pancakeswap
uniswap
--> https://coinmarketcap.com/rankings/exchanges/dex/
The top 1 and 2 from both websites are different.
Why should need many exchange for daytrade, when you can use one only. Using one exchange will make it very easy to maintain it and also reduce the trading costs that each exchange will be very different, but if traders have the ability to be able to trade using multiple exchanges it is not a problem but for me only one is enough, the other is used only for one trade on coins that are not listed on the exchange that I usually use.
I guess it depends on you and your capabilities to handle multiple trades. Still ideal is to make a trade and focus on a single account because sometimes hard to manage it depends on your trading strategy, people make a short trade in their other account and the other one is for long trades because they want it didn't affect the others account performance or winrate sometimes it's important to them to have a good reflection of performance.
Depends what your goals are, of course leverage trading a few big ones with solid KYC and good customer service is important. If you are doing things like artbritaging then yeh same as before but more options with solid bot connectivity. Also where has the company been registered is important.
pancakeswap
uniswap
DEX and swaps are not good to trade because there are slippages or sales tax which will kill your profit. It is why people do like CEX which gives them higher trading volume, less price impacts when they enter or exit (buy or sell) and no hidden sales tax.uniswap
On CEX, you will be charged trading fees which are clearly presented in FAQs and Trading fee description. On DEX, if you are not careful, you might be trapped with sales tax, slippage. Additionally, on Pancakeswap or Uniswap, you only can swap immediately. I mean you don't have choice to set up orders at your wanted prices and wait them to be filled later.
I do not bother about the difficulty of having an account on Coinbas, Binance, or other exchanges because there are many other exchanges that I can use to trade.
A daily trader must search for the exchange that can give them comfortable things, including KYC matters so they will not have a problem while they trade.
No matter where you want to trade, whether it is CEX or DEX, you need to make sure that you are ready with the terms&conditions on that exchanges and follow all their requirements so you can trade daily.
If they do not see their coins or tokens listed on popular exchanges and only available on small exchanges, they need to find out if that exchange does not need many requirements to sell their coins or tokens right away.
After selling their coins or tokens, they need to withdraw the profit to the other wallets.
A daily trader must search for the exchange that can give them comfortable things, including KYC matters so they will not have a problem while they trade.
No matter where you want to trade, whether it is CEX or DEX, you need to make sure that you are ready with the terms&conditions on that exchanges and follow all their requirements so you can trade daily.
If they do not see their coins or tokens listed on popular exchanges and only available on small exchanges, they need to find out if that exchange does not need many requirements to sell their coins or tokens right away.
After selling their coins or tokens, they need to withdraw the profit to the other wallets.
You must have 2 at least.
One account for your crypto investment, long term. You don't touch it in short term.
Another account for your crypto trading. It should not be assigned with too big proportion of your total capital.
If you are seriously with trading (in my opinion, you should not), you can use more than one account for trading but always remember that total capital for all trading accounts should be small compare to your whole capital and the part for investment in non-touch account
You can use 1st trading account for 15-min chart, 2nd trading account for 30-min chart, 3rd trading account for 1-hr chart and 4th trading account for 4-hr chart. I think 4 accounts for trading is enough.
One account for your crypto investment, long term. You don't touch it in short term.
Another account for your crypto trading. It should not be assigned with too big proportion of your total capital.
If you are seriously with trading (in my opinion, you should not), you can use more than one account for trading but always remember that total capital for all trading accounts should be small compare to your whole capital and the part for investment in non-touch account
You can use 1st trading account for 15-min chart, 2nd trading account for 30-min chart, 3rd trading account for 1-hr chart and 4th trading account for 4-hr chart. I think 4 accounts for trading is enough.
~snip
Using too much exchange isn't necessarily mate wherein you must choose which one is good for you.As a trader in my personal opinion the most important is "fees and security " and you don't need more exchange to day trade because indeed most cryptos nowadays are listed already in some popular exchanges..
Probably i will gonna use another exchange but to check their order book only to see the volume of my trade if it's accurate with the one that i'm using because it's a big advantage as well to see if the coins you wants to trade is really bullish or bearish..
Pretty simple — you use exchanges with the trading pairs you're planning on trading. It's not rocket science. And if you can't due to problems concerning jurisdiction, you do the deals peer-to-peer, or by using the "DEXs".
https://www.coingecko.com/en/dex
P.S. Probably use normal spacing. Using too much line breaks makes your posts annoying as hell.
Give me list of all decentralized exchanges.
I assume they are
pancakeswap
uniswap
I assume they are
pancakeswap
uniswap
https://www.coingecko.com/en/dex
P.S. Probably use normal spacing. Using too much line breaks makes your posts annoying as hell.
Jump to: