Which of these exchange sites is most trusted/preferred

onlinedragon

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Quote from: dreamsorcerer on August 13, 2016, 06:06:42 AM

Quote from: whanethewhip on August 11, 2016, 07:46:36 PM

Short version:

Longer Version:
I'm new to Cryptocurrency. I spent a week doing low paying BTC faucets just to receive and send so that I can see how it works (it was a lot of work for 38 cents lol). Now I'm learning to mine. I'm getting terrible hashes because I'm using minergate CPU power from a couple of old computers I don't use anymore but it's just to learn some basics. I have about 1000 Bytecoins which sadly is just a few cents but it seemed better to mine altcoins then exchange them for Bitcoins. (If anyone uses Minergate, feel free to recommend a better altcoin to mine for conversion to BTC).

I was planning to use https://bittrex.com/ because I've seen it mentioned so many times but they don't seem to accept Bytecoins, two other sites do: https://poloniex.com/ and https://changelly.com/

Of the three which is generally trusted and preferred the most? Or are they all good? Or am I missing something better that I'm unaware of? I really don't want to have to use multiple exchange services unless I have to. And yes I know that the amounts I'm discussing are pointless, at this stage I'm just using pennies to learn the basics because I would hate to make a technical mistake with my own money. Thanks for reading.

Actually one of the best is poloniex, for a good amount of cryptos, good volumes, and a good service. but a good history doesn't mean anything for the future of an exchange... as we have learned from the past lessons...

That is the same for bittrex so far there were never serious problems with.Think that any exchange who have plans to run away will try to do it silently until the time is over there to run away.

I should register on poloniex and bittrex only because they offer different markets. Trade for the best rates somethimes it's really worth to keep an close eye on the prices people earn serious money with trading between exchanges.

dreamsorcerer

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Activity: 72

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Quote from: whanethewhip on August 11, 2016, 07:46:36 PM

Short version:

Longer Version:
I'm new to Cryptocurrency. I spent a week doing low paying BTC faucets just to receive and send so that I can see how it works (it was a lot of work for 38 cents lol). Now I'm learning to mine. I'm getting terrible hashes because I'm using minergate CPU power from a couple of old computers I don't use anymore but it's just to learn some basics. I have about 1000 Bytecoins which sadly is just a few cents but it seemed better to mine altcoins then exchange them for Bitcoins. (If anyone uses Minergate, feel free to recommend a better altcoin to mine for conversion to BTC).

I was planning to use https://bittrex.com/ because I've seen it mentioned so many times but they don't seem to accept Bytecoins, two other sites do: https://poloniex.com/ and https://changelly.com/

Of the three which is generally trusted and preferred the most? Or are they all good? Or am I missing something better that I'm unaware of? I really don't want to have to use multiple exchange services unless I have to. And yes I know that the amounts I'm discussing are pointless, at this stage I'm just using pennies to learn the basics because I would hate to make a technical mistake with my own money. Thanks for reading.

Actually one of the best is poloniex, for a good amount of cryptos, good volumes, and a good service. but a good history doesn't mean anything for the future of an exchange... as we have learned from the past lessons...

densuj

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In my opinion market site is most trusted poloniex, because more than 1 year i have made trading alt coins on there. And everything went fine there are not problem.

Herbert2020

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Quote from: whanethewhip on August 12, 2016, 11:22:11 PM

Thanks for all of the recommendations, I really appreciate it. It's one thing to see an exchange recommended on a website, which is usually the opinion of one person, whoever owns the site. It's another to get a variety of recommendations from a group of people that have been part of Bitcoin for a while. I signed up with Poloniex.

For those mentioning Changelly, it's promoted on Minergate so I thought it might be one of the popular exchanges. Thanks again!

i did a quick search about Changelly and it seems like it is not even new, it started back in 2013! but it is not at all famous. and the prices are all higher for buying and lower for selling which shows a big spread caused by lack of users trading there.
for example 1 Lisk = 23000 satoshi which is half the real value if you want to sell it
and you have to pay 50000 satoshi to buy it!

whanethewhip

newbie

Activity: 38

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Thanks for all of the recommendations, I really appreciate it. It's one thing to see an exchange recommended on a website, which is usually the opinion of one person, whoever owns the site. It's another to get a variety of recommendations from a group of people that have been part of Bitcoin for a while. I signed up with Poloniex.

For those mentioning Changelly, it's promoted on Minergate so I thought it might be one of the popular exchanges. Thanks again!

hasiramasenju

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i'm not familiar with changelly.com and honestly this is first time i have seen this exchange because for an altcoin exchange i was only use yobit, bittrex, and poloniex but i'm very agree with all people here that bittrex and poloniex is worth to tried especially for poloniex currently they were in the top first coinmarketcap.com for an exchange category so i think you have to considering using these exchange

NorrisK

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Activity: 1946

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Poloniex seems to perform deeper analysis on new coins they add. Extensive code audits are performed before they even consider running the code on their systems.

Bittrex usually adds coins much easier after much less auditing. Therefore, I think poloniex has the least chance to get hacked due to malicious code being inserted into coin wallets such as what appearently happened to cryptsy.

Poloniex also made a lot of profit on ethereum and ethereum classic trading, they are therefore very likely to have a good deal of reserves by now, which could cover any loss of hot wallets funds (cold wallet are of course a different story).

My go to exchange is poloniex for altcoins, if they are not there bittrex and if they don't have it, I don't trade the coin.

Herbert2020

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Merit: 1137

Quote from: whanethewhip on August 11, 2016, 07:46:36 PM

I was planning to use https://bittrex.com/ because I've seen it mentioned so many times but they don't seem to accept Bytecoins, two other sites do: https://poloniex.com/ and https://changelly.com/

simply being mentioned a lot doesn't make an exchange good. although in case of bittrex it is a very good and trusted exchange service.
so always try to find their announcement on bitcointalk and check when they were created and how satisfied their users are.

and in the end always remember what has happened to other trusted exchanges like bitfinex, cryptsy, and mtgox. so mange the risks wisely.

narutushipu

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poloniex and bittrex super recomended exchanger altcoin
but changelly iam hearing in now in not popular and low volume transaction
i think is exchange changelly must becarefull because not pupular exchanger

enhu

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ITs the first time I've heard of changelly.com Grin

most of us are on polo and bittrex as of now. i'm not sure when are we going to see if these exchanges goes scammy in the future. There are possibilities that any moment, exchanges are going to declare they were hacked so its better not to store your most valued coin. you'd rather store your altcoins to them.

Xanidas

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Poloniex will be the first on my list and bittrex on the next. i don't have any problems on Polo, they seem to have the biggest trade volume daily among the others

DebitMe

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Get Paid Crypto To Walk or Drive

Out of all of those I like and trust poloniex the most. I have used it for years and have never had an issue. I have never used the other 2 and that usually isn't a good sign when I have been in cryptocurrency for so long.

pooya87

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i have never heard of the last one on your list (changelly!) but the other two are trusted and old. i prefer bittrex myself (it is only preference because of their engine) but poloniex has the larger volume.

you can see all the exchanges and their volume here: http://coinmarketcap.com/exchanges/
also to find a coin and where it is being traded use that search bar in coinmarketcap to find where they are being traded like this: http://coinmarketcap.com/currencies/bytecoin-bcn/#markets

ethereumhunter

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i prefer with poloniex, because if you mining with minergate, there is coins that available in poloniex, for example, XDN, BCN, XMR, and almost all of coins that you mining with minergate is available on poloniex. so you can send it what you mining to poloniex coins wallet. in a couple of months ago, i am using minergate too, but i rent vps to mining, you can get cheap vps with $10 to start with digital ocean, and then you can set your vps to mining with minergate. i choose BCN, XDN, MCN, DSH to mining but its depend on how much your hashrate. if you got big hashrate let say 1 MH, then my suggestion you can try mining with ETH. but if its under 100 kh/s, then my suggestion is mining BCN, XDN, MCN. the rate of three coins is good for now.

mexicantarget

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Cypherpunk (& cyberpunk)

I go where most volume is.
Right now, that's poloniex.

Poloniex is safer and they care about their users more than other mentioned exchanges.

noictib

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One of the world's leading Bitcoin-powered casinos

in my openion bittrex is better than other . many of myfriends are using in these days and doesn't faces any problem so i think bittrex.com is better than other .

notlist3d

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Quote from: whanethewhip on August 11, 2016, 08:06:53 PM

@notlist3d

I see what you mean about storage, I guess the best rule of thumb is to secure funds in my wallet as soon as I can. I'm in the U.S. and I've heard of coinbase but I thought it was a wallet.

It is a exchange first and a good in in my eye's for US. The thing they have that very few other's have is insurance. If they get hacked as a site (not due to user fault but due to site) the insurance is suspose to pay losses. It has never been tested as they have not been hacked, but it is impressive. They will want all your info though for using as a exchange. But with being in US KYC (Know Your Customer) is needed with exchanges so they are not considered money launders.

They do have a wallet to. But check it out https://www.coinbase.com/ . They are not good for those gambling/doing bad thing's. So I guess depends on what your doing I'm assuming all legal. Which ever one you pick make sure to use 2 factor authentication. Also this is assuming you want a exchange to go from fiat to BTC. Not one that you are playing with altcoin's really.

whanethewhip

newbie

Activity: 38

Merit: 0

@notlist3d

I see what you mean about storage, I guess the best rule of thumb is to secure funds in my wallet as soon as I can. I'm in the U.S. and I've heard of coinbase but I thought it was a wallet.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: whanethewhip on August 11, 2016, 07:46:36 PM

Short version:

Longer Version:
I'm new to Cryptocurrency. I spent a week doing low paying BTC faucets just to receive and send so that I can see how it works (it was a lot of work for 38 cents lol). Now I'm learning to mine. I'm getting terrible hashes because I'm using minergate CPU power from a couple of old computers I don't use anymore but it's just to learn some basics. I have about 1000 Bytecoins which sadly is just a few cents but it seemed better to mine altcoins then exchange them for Bitcoins. (If anyone uses Minergate, feel free to recommend a better altcoin to mine for conversion to BTC).

I was planning to use https://bittrex.com/ because I've seen it mentioned so many times but they don't seem to accept Bytecoins, two other sites do: https://poloniex.com/ and https://changelly.com/

Of the three which is generally trusted and preferred the most? Or are they all good? Or am I missing something better that I'm unaware of? I really don't want to have to use multiple exchange services unless I have to. And yes I know that the amounts I'm discussing are pointless, at this stage I'm just using pennies to learn the basics because I would hate to make a technical mistake with my own money. Thanks for reading.

The biggest question for this normally is what country are you in? Depending on that there is normally a few "best". But it is very regional due to law's changing depending on what country it is in. For example US Coinbase is a great one, but with KYC they know a lot about you (as any US one would). But again all depends on country.

And also do NOT store coins on exchanges as a general rule. They are target's for "bad guy's" so even if you use to convert to fiat I would store in a more secure cold wallet until you need to sell. Lot's of news about this again going around.

whanethewhip

newbie

Activity: 38

Merit: 0

Short version:

Longer Version:
I'm new to Cryptocurrency. I spent a week doing low paying BTC faucets just to receive and send so that I can see how it works (it was a lot of work for 38 cents lol). Now I'm learning to mine. I'm getting terrible hashes because I'm using minergate CPU power from a couple of old computers I don't use anymore but it's just to learn some basics. I have about 1000 Bytecoins which sadly is just a few cents but it seemed better to mine altcoins then exchange them for Bitcoins. (If anyone uses Minergate, feel free to recommend a better altcoin to mine for conversion to BTC).

I was planning to use https://bittrex.com/ because I've seen it mentioned so many times but they don't seem to accept Bytecoins, two other sites do: https://poloniex.com/ and https://changelly.com/

Of the three which is generally trusted and preferred the most? Or are they all good? Or am I missing something better that I'm unaware of? I really don't want to have to use multiple exchange services unless I have to. And yes I know that the amounts I'm discussing are pointless, at this stage I'm just using pennies to learn the basics because I would hate to make a technical mistake with my own money. Thanks for reading.

Topic: Which of these exchange sites is most trusted/preferred (Read 782 times)