How to choose the right exchange? - page 10.

whirlcoin

full member

Activity: 602

Merit: 111

Quote from: Bit4UTeam on December 19, 2017, 09:57:43 AM

What exchange do you buy/sell your cryptos? What is the best? How have you chosen the one you use?

I personally use localbitcoins for buying and selling bitcoins because it is accepting my local currency and also many good offers available in this exchange.While we buying and selling thay use escrows so there is no fear of scams.So I choose localbitcoins for these reasons.

xdrpx

hero member

Activity: 616

Merit: 603

I look for a couple of factors like cheapest buying and highest selling rates (also to take note of the cheapest fee %) of a particular exchange, how long has the exchange been in the market and its historical track record with security and quick response to support tickets. I also need a fast and responsive trading platform that doesn't lag or pause very frequently due to downtime. I hope soon exchanges would allow their users to set the mining fee by themselves.

lankyman

sr. member

Activity: 382

Merit: 250

Surely u would only use an exchange if it can exchange in to your fiat currency right ?
I was wanting to get a different exchange account but i dont understand the point of doing so.
Please can somebody enlighten me ?

Noctis Connor

hero member

Activity: 1008

Merit: 540

Quote from: Bit4UTeam on December 19, 2017, 09:57:43 AM

What exchange do you buy/sell your cryptos? What is the best? How have you chosen the one you use?

first thing you would mind, would be the security of the exchange. Then the verification of the users, this will be the best feature on any exchange, they will make sure for the legitimacy of your accounts. Then finally the support, faster response on their support the better the exchange. That's all my suggestion.

UnusualMouse

newbie

Activity: 99

Merit: 0

Better to look on the website's review, try also to research the website if it is scam or not. Try to ask someone who made transactions already from them.

Lieldoryn

sr. member

Activity: 630

Merit: 272

To buy or sell bitcoin best on the market. You need to register an account in advance because all exchanges there is a problem with the verification of accounts and Bank cards. It may take a month or more. If you need money urgently then you can use online exchangers. They do not require verification but the exchange rate is less favorable there. Decide you ultimately.

audiman

jr. member

Activity: 51

Merit: 1

first you should search forum for any feedback , review , history of the exchange , to make sure the site are serious and not a scam

Crypto Girl

sr. member

Activity: 980

Merit: 294

As for me, i choose an exchange that has a large volume of trading, the number of coins listed and their history. I would suggest to look about the Bittrex, Poloniex, yobit or Coinexchange, they are all good together with C-CEX, Livecoin and many others, i used to trade on different exchanges because i'm doing the arbitrage trading.

MARAI NAZ

newbie

Activity: 11

Merit: 0

Quote from: Bit4UTeam on December 19, 2017, 09:57:43 AM

What exchange do you buy/sell your cryptos? What is the best? How have you chosen the one you use?

Finding a good exchange is not such an easy job. i think it require a good experience and hard work. you must have good knowledge about exchange.

Xavofat

hero member

Activity: 938

Merit: 559

Did you see that ludicrous display last night?

You'll have to check their compliance with your jurisdiction's regulations, and in some cases, their compliance with other jurisdictions' regulations if those countries have aggressive governments (for example, BTC-e was temporarily shut down by the US government and 45% of their customers' funds were taken).

You should also check their history of security - have they been hacked? Have funds been stolen from them before? There's also a couple of cases in which the exchange appears suspicious (such as Bitfinex) and you should avoid them.

Even though there are a large number of complaints for most Bitcoin exchanges, Coinbase and Bitstamp are examples of exchanges that would be okay.

garet

newbie

Activity: 42

Merit: 0

Agreed that you should look at the verification process of the exchange.

More fundamentally, you will want to make sure that it is reputable (ie is not a scam), that there is decent volume being traded in the coins you wish to buy/sell and that the exchange offers you sufficient security options (MFA/2FA is a must).

In general, one way to identify the best exchange for you (you can use more than one FYI) is to look at the coins you want to buy/sell on CoinMarketCap.com and see which markets they are being traded on. Once you know where those coins are trading with the highest volume, you should have a better idea of which exchange you would prefer to use.

btcwish1

full member

Activity: 401

Merit: 108

It really depends on your requirement. For example if you simply want to buy BTC and HODL then I would suggest Coinbase. But if you are planning to do some trade every now and then, you should chose something else.

Coinbase fee is way too much for doing trade. i use kraken for some small trading.

zarados

full member

Activity: 364

Merit: 130

make sure you check a few things before determining the exchange site you use.
The verification method used. Make sure the verification data you send to the exchange is acceptable and make your status verified. this may take several days to verify the data. And if your data is rejected and can't be fixed, you should look for other exchange sites that can accept your verification data.

an unverified account may cause a person unable to withdraw any money in the exchange site. And don't forget to make sure the maximum and minimum value for withdrawal.

Bit4UTeam

newbie

Activity: 56

Merit: 0

What exchange do you buy/sell your cryptos? What is the best? How have you chosen the one you use?

Topic: How to choose the right exchange? - page 10. (Read 879 times)