Topic: Top 2 cryptocurrency exchange (Read 158 times)

   Binance is cheap and good to be used by advance trader,it has a very important consideration fee   organized for investor and traders also good for people that want to stake hard in search of altcoin,it is dominant and very strong for individuals and businesses that is willing to chart with alot of different cryptocurrencies,it offers complete low fees and greatly developed important part is a place of safety fo seasoned marketers.
  
   As cryptocurrency without stopping to increase in population, Binance is still a leader in  the cryptocurrency industry giving unparalleled rewards to it's users.
 All these attributes make it a better choice for beginners and experienced traders.
  
   Coinbase is simple to use and good for a starter,it also give simple, security and assess to beginners which makes it a good for beginners.
  

Cryptocurrency exchange are exposed to hackers and not high charges. They're not exposed to scammers neither as their platform has centralized feature to make it almost Impossible for scammers to take advantage off. Scamming are happening off the exchange and not on the exchange unless you're using a decentralized exchanges that the site has been compromised. The Nigeria banks or other banks don't have any charges when it comes to Bitcoin transactions, if was until recently that the government lifted their ban on banks to do business with crypto traders so nothing of such like banks taking a fees has happend in Nigeria.


This says it all, next time try to have some knowledge from a proper research so you don't mislead others with your post. Bitcoin transaction fees goes to the miners and not banks and we have many popular exchanges that gives services to all part of the word. We have centralized and decentralization exchanges with big volumes so there's no point limiting exchange to only top two. I don't see a reason why we should be discussing only top two exchanges.

Coinbase exchange isn't big in Africa and especially Nigeria. We have other exchange that are of high volume and customer service than coinbase and I'll probable rank them in the top position than coinbase because coinbase is mainly for US citizens.

Nigerian banks are not in any way associated with our Bitcoin transaction fees be it in a centralized exchange or decentralized exchanges; they can only have share on our transactions if Bitcoin and Cryptocurrency is completely legalized in the country.

Binance is actually very popular but Coinbase is not.
Some exchanges like KuCoin, MEXC, Bybit and others are there that Nigerians are mostly using because of crypto trading, but most people are using Binance just because of p2p transactions if they wants to sell their dollar to Naira, some also uses remitano and some uses KuCoin.

The most popular exchanges among Nigerians in Crypto is Binance and the next one is Bybit. AFAIK both bybit and Binance organize programs and workshops for Nigerians ONLY. For Coinbase, the rules and terms make it very difficult to use as a Nigerian. This is due to the fact that they are head quartered in the US and have to keep up with robust KYC/AML procedures in order to maintain their standard and good standings with regulators.



I used coinbase in the past and truly, their products are much more tailored for US residents and are heavily regulated. Another reason why Coinbase isn't the first choice or any body's choice lately is because they're very picky with listings. If you're someone that likes to trade altcoins, you'll find out that not all altcoins are listed maybe even favorites.

I don’t normally use Coinbase to make my transactions because I have not heard anyone using it in Nigeria, and I think it is not centralised in Nigeria like Binance because Binance is the only exchange most Nigerians use when they want to make transactions or even trade, which I think is because they offer some feature trading and some other things that make transactions easy. However, for Coinbase, I haven’t even thought about using it, and even if people are talking about exchanges, I don’t see where they mention Coinbase among the exchanges that most Nigerians use because I think it doesn’t make things easier for us here.


I don’t know where you see this or heard it from in Nigeria that banks are receiving bitcoin transactions talkless of even putting a fee on them. Nigerian banks that I know do not support bitcoin in the first place, so you are saying that they have a high transaction fee when it comes to bitcoin transactions. You are wrong because this information is fake, but if you have any source where you got it from, you can bring it up, so we will also learn and take it.

I dont know if this still apply to this current state of the ban of transaction between the commercial banks and Crypto because I know that was the reason for heavy precautions even when you wanted to trade your coins through P2P means in binance and other CEX like kucoins and Bitbuy.

Well for the fact the P2P method is free and fair, I don't see how the government actually charge from our transaction when selling or buying coins through this means except I think it's now that the ban has lifted and there are now measures taken to actually tax these transactions that I am not aware off.

I was typing my reply, and something took my attention off. I have to start all over again, as there have been many replies pointing at what I was trying to say too, but that won't stop me from going deep.
 
There is no mention of banks charging a high fee for Bitcoin transactions in the news that you share, so if you have any proof, please bring it in. We should all learn how to share stories and news, because misinformation is what keeps many societies going.
 
Binance trading fees and other exchange fees are why they're rising, and that's for everyone who is trading there; it's not targeted in a particular country. If you are a day trader, you should be able to notice it.

Before, the fee was not noticeable as it was little to almost nothing, but these past months we can see the amount they charge for each trade, which is where the article is situated, and not the bank charging a high fee on a bitcoin transaction. Is the bank the one performing the transaction?

How are you writing this with a straight face. If you have done your research, you would know that if you every do a bitcoin transaction either through P2P or through banks, you will know that your account would be flagged down by the CBN and you will get in trouble with the law.

I have never used Coinbase and never ever thought of it. At the time I invested in bitcoin, I went for the most popular and most recommend centralized exchange at the time which was Binance.

I have no rating for any of them. They are both reputable exchanges. One other that I have used that is good is KuCoin.  You can tryit.

This is not true. Make use of P2P and bank has no charges to take than the normal transaction fee.

Nigerians are not allowed to trade on Coinbase. It would have been one of the most popular exchanges in Nigeria. But you know the type of segregation we faced from many services from United States like PayPal. Coinbase is one is them. Thankfully, we have alternatives that we can even say are good and better.

There are other better centralized exchanges as well. You can look for their trust score on some sites like Coingecko.

One of the main reasons Nigerians use centralized exchanges is for peer-to-peer trading and other trading features they offer. There are various types of exchanges available, depending on your preferences. If you highly value privacy, decentralized exchanges like PancakeSwap and some others are an option. However, if you're okay with some Know Your Customer (KYC) requirements, centralized exchanges like Binance and Coinbase are available. These exchanges are owned and operated by third parties who follow government regulations. The choice of exchange depends on your preferences. Previously, there were many decentralized exchanges, but gradually they started implementing KYC requirements at certain withdrawal limit before fully transitioning to centralized exchanges. You can find some of these Cex and Dex here on this links

DEX https://coinmarketcap.com/rankings/exchanges/dex/
CEX https://coinmarketcap.com/rankings/exchanges/  

However, without reading the whole body of your content I can proudly say anything that has positive things also have negativity on it. Just the way you said that these exchanges are exposed to scammers and looking at it it's true because these are what scammers who are putting their eyes on bitconers uses more to scam Bitcoiners.
Moreover, the legit side is more as I can say that there are more Bitcoiners who aren't into scamming making good use of these exchange.
Besides, these are what also put those exchanges where they are today as they can not know if the coins they are about to receive are from the legit source or not but they are there to do their jobs and their jobs are to make sure that people coins don't get stolen that's why they are there, but the funnest part is you have to place an orders any also confirm them before your coins can leave your wallet.
When you placed an order but you didn't confirm the coin will still be there until you confirm, but funny enough that many of those exchange are very sensitive that you much be careful and also be sure of what you are doing so that your bitcoin will not be freezed, moreover the main way for you to be safe with your coin is never to share your wallet logins with people even if you know them or you don't.

Crypto currencies exchange following some online transactions has been exposed to scammers and high charges. The Nigeria banks for example takes a huge percentage to transaction fees especially when it is Bitcoin transaction.
Though I haven't had more knowledge on this Bitcoin transactions but from my research today I found two cryptocurrency exchanges which are ranked as the top two currency exchange.

One have been popularly known to everyone trading Bitcoin or transacting or receiving funds online and it is ranked as the number one cryptocurrency exchange it was founded in the year 2017 and still functions till date. It is called BINANCE.

The other is called COINBASE:This is also ranked among the top two cryptocurrency exchange and it is ranked second after the BINANCE but like I said earlier I haven't heard about this COINBASE if not for the research I made today though I still don't know more about this COINBASE until I am well certified with the ongoing research.

So those who do this online transactions do you see this two as the best and how do you rate them for your own transportation
I will leave the link here maybe you want to know about or make your own research https://www.investopedia.com/tech/how-much-does-it-cost-buy-cryptocurrency-exchanges/