Thought i will make a topic about Exchanges where we can share experience and help each other avoiding bad ones and/or giving advice…
Here some interesting read for the start:
4 Likes
Ive used bittrex, always liked it
And cryptopia a little bit for odd ones
1 Like
Since we are talking about Exchanges, it’s very important for users to do some homework before trusting one. There a number of tools that make it “easy” to set up a new exchange will little effort such as: Crpyto Exchange Solution with Source Code for Spot and Futures (Derivatives) & Margin Trading| Modulus
If an exchange is not honest there are a number of ways thay users can be burned by high trading fees, low liquidity, making it difficult to withdraw funds, or even disappearing in an exit scam.
Remember: your private keys to your funds are your power. Once you send those funds to an exchange you are 100% trusting them with your funds, many unregulated exchanges have no insurance and you have no recourse if they pull a MtGox and go belly up.
So take your time and research exchanges before signing up for one. CryptoCompare has Exchange reviews, a good place to start: Compare all bitcoin exchanges, reviews, live streaming bitcoin prices, fees, deposit methods, | CryptoCompare.com
5 Likes
Personal experience:
Kraken
Gemini
Bittrex
I deleted Kraken after a couple weeks. High fees, annoying banking rules. I have no more to say.
If I can trade on Gemini I do. The interface is great. SO far custom service has been tops. No issues with banking integration.
Bittrex is great for all the tiny alt coins, but their deposit and withdrawal rules make my eyes bleed. They have added a lot of pairs that aren’t to bitcoin, which is nice.
1 Like
Kraken works well enough for my occasional trades & much more reliable than last year.
I personally trade on a lot of exchanges:
- Bittrex (best one of the ones i use in my opinion)
- Poloniex
- Binance
- Cryptiopia
- Coinex
- Kraken
- Hitbtc
- Coinex
- Tradeogre
- Stocks.Exchange
- Coinexchange
- Southexchange
- Coinbase (for direct Fiat to Crypto)
I use the later ones for some small coins that are not available on bigger exchanges. Mainly using Bittrex, Poloniex and Binance.
I’am trying always to use the exchange with the biggest volume of a given trading pair to avoid bigger sell-buy gaps.
I stopped using kucoin as i don’t feel comfortable there. Same for Hitbtc, but i still hold some coin pairs that have the highest trading volume there, but it’s not one i would like.
Right now i’am viewing the highest BTC Volume exchanges and these are ones i have never heared about, so anybody tried them:
- Bitforex
- Bitmex
- Coinsbank
- Bithumb
- ZB.com
- Iquant
- DobiTrade
- Coinsuper
All the above have over 50M 24h BTC trading volume on a given pair and i wonder if someone has experience with them.
Next thing that would be interesting is how everybody is cashing out? I personally never cashed out anything so far, but of course at some point this is unavoidable. So what exchange are you guys using for cash out?
2 Likes
I use Gemini for my fiat/crypto conversion. Had to do KYC, once it’s set up it’s very fast and cheaper fees than my Coinbase account.
2 Likes
Yes, but you are US, for Europeans an europe Fiat/crypto might be better. But i have to look into this Gemini for sure to see how it works…
Coinbase has european iban accounts which makes it way easier for europeans to transfer money.
2 Likes
Hey talk about exchanges! This is an excellent resource
Released sept 18
2 Likes
1 Like
great topic-important I think
I have signed up for many accounts as I had to for availability of the trading pairs that I was purchasing. many of these accounts are otherwise superfluous.
a couple of favourites of course are Binance & Bittrex.
the useful ones for obscure coins to purchase when freshly minted would be:
Coin Exchange
Stocks Exchange (has to get the prize for “most improved”) but it was terribly slow to show deposits in it’s early days
Cryptopia of course- the exchange people love to hate
I have used many others but so seldom that I have no comment
there is just one exchange that I would issue a warning against ever using.
I discovered Yobit when I was interested in arbitrage and so sent available funds from other accounts to Yobit to take advantage of a 'discounted price" however after buying the coin I discovered that the wallet “is under maintenance” and I cannot withdraw my coins . then I look further and find this is the case with most all the coins traded there.
basically they hold your funds hostage -the situation hasn’t changed in over six months - support tickets are answered with passing blame to the coins developers not updating the wallet. I’ve spoken with the developers and they claim that they are just ignored and want to take the exchange to court. good luck prosecuting an exchange in Russia.
search online finds similar claims. google ‘Yobit scam’ brings up many similar reviews
3 Likes
Totally agree, Yobit is the worst of the worst.
2 Likes
I only use Kraken & Poloniex
1 Like
I have experience with many of those exchanges as well…
However I find that I’m doing less trading and more saving.
Binance is good for the volume. All others are for different coins.
Bitmex is insane for BTC derivative swaps with 100x leverage
It’s a complete sh!t show if you want to trade massive volume.
1 Like
Its worth mentioning (I recently learned) that the Rock Trading and Shapeshift (?) support Z address deposits and withdrawal
https://en.m.bitcoinwiki.org/wiki/TheRockTrading
2 Likes
Why is Asia the epicentre of crypto exchange hacks?
https://bravenewcoin.com/insights/why-is-asia-the-epicentre-of-crypto-exchange-hacks
2 Likes
Do you guys agree with these list of best exchanges?
Yes, i have accounts on all of them, expect gemini as i’am a european but will check out gemini as well soon.
Only exchange i would remove from that list is kucoin.
1 Like
1 Like
Bitfinex has suspended fiat deposits for a week
1 Like