Bitcoin Forum

HI, i'm new in the cryptocurrency world and i would like to know some things:
1. Where do you trade altcoins/bitcoin and why? Bittrex/Poloniex?
2. Where's the best place to change bitcoin/altcoins into FIAT with the lowest fees?
3. What's your strategy in trading and how much do you invest in it?
Thank you so much for all your answers!

hello and welcome to the cryptoworld mate...
1.
Bittrex-because it's very easy to do the trade in there as long as you have a basic account in there,no lag,easy to understand and high volume.
they are selectively list a new coin in there,which mean it will prevent us to get caught pump and dump coin.
i do not recommend do the trade in Poloniex,it's because a lot of people have a lot of problem in there,
such as blocked account,withdrawal issue and unclosed margin.better safe than sorry

2.
The best place to encash the Bitcoin/alts to fiat is my local exchanger,
i never encash it to fiat using international exchanger because i am afraid they will 'hostage' my coin and need my document to release it.
other than that,try to use localbitcoin.com,it's peer to peer landing platform.
you can sell it to other Bitcoin users in there,you can convert it to Fiat and others

3.
Holding it if you can not afford to lose it,
for example :
if i have money $1000 monthly,i will invest it $300 and i will use $400 as financial back up and $300 for my expanse in my life.
never go all in,because it's not a good strategy and you will die soon because of it

you are welcome

1. Both are legit exchanges, I'd go with Poloniex because It has more trading volumes but Bittrex has more coins so It really depends on what you are trying to trade.
2. Coinbase If you want a fast method otherwise you can use Paxful, Localbitcoins as It's P2P trading so they charge less fees.
3. I don't do day trading or anything and this may not be the best strategy, but I usually find an interesting project that has potentials, I invest and hodl for the long term.

you should choose the exchange that you like and fits your needs and also the one that you agree with the terms of. not what others choose and use!

most bitcoin exchanges have the same fees which is nearly the same. just choose the top like coinbase and use that.
although it mainly depends on which fee withdrawal options you are looking for. exchanges offer different methods with different fees.

simply invest what you can afford to lose.
start small
and gain experience first,. there is no rush.

I swing trade BTC on GDAX and I hedge for the short term on Bitmex. I consider GDAX the best place to sell for fiat (but they only offer fiat markets for BTC, LTC and ETH if you are looking for other altcoins). By using limit orders, you can pay zero fees on GDAX.

I started trading back in 2012 and worked my way up from a < $200 deposit. I don't use much margin and I focus on catching the bulk of moves on the daily/weekly charts. I've also learned the hard way: if you are holding either BTC or USD (BTC for weeks or longer, USD for months or longer), get it off the exchanges. You never know when an exchange might disappear with your money, get hacked, etc.

Thank you so much for your replies. I plan to start with small amounts, like 30-40$ just to get a grasp of it. I know that the market is extremely volatile so i'm curious how you guys make predictions?
Just watch the news and follow the charts on coinmarketcap?(any good recommendation for a news site is appreciated/ or other sites related to trading)

if you want to trade Bitcoin you should read the chart frequently because based on the chart we should see the market movement.
and the place i watched the movement for Bitcoin are :
https://bitcoinwisdom.com/
and
https://cryptowat.ch/
after looking for the chart usually i always make my own chart prediction,
and i created it by myself in :
https://www.tradingview.com/

and other than that sometimes i visited a cryptonews such as cointelegraph and coindesk.

for other altcoin i just rely on Buying on rumour sell on news,
which mean i only sell it if the news come up and buy it if i heard someting will happen in the future.
altcoin is unpredictable

Welcome to the crypto world! For trading sites, I actually have both Poloniex and Bittrex because at first I was only trading at Poloniex and after Bitcoins price skyrocketed and almost all coins were dumping I had to stay away so I won't be tempted to make unnecessary actions in trading. Then when I realized after reading a lot of positive feedbacks of the Bittrex trading site, I then transferred some of my coins from Poloniex to Bittrex but still left a couple of coins at Poloniex so I can compare both of the sites. And I used a local exchange site to convert my fiat money to bitcoin then send it to the exchange sites to but coins. For trading strategy, I barely have one for I go for long term trading instead of short term. Good luck with trading though!

1. Apart from the support problems i´m keeping in poloniex. However i like cryptopia for smaller, cheaper low volume coins.
2. I go for coinbase. However you should consider "in person" trading to avoid tax assle.
3. I still consider crypto high risk and in crypto BTC being the less high risk. that said. From my crypto portfolio i´m 50% BTC , 25% well established coins like Monero, 10-15% smaller cap long term riskier coins, like XBY or KMD,  10-15% dividend paying assets like TAAS. the percentages are rough estimates.

1. in local exchanges and bittrex because they provide good service
actually i like poloniex, but i'm disappointed with their service.
some time ago i had a withdrawal status;error and i waited 20+ days to process, already sent a support ticket, tweeted to the official, but did not get a response, they responded when processed, it's crazy their communication with customers so bad.

2. i think the cost is not much different but if compared, local exchanges are lower in cost

3. many have answered this, and i agree with their opinion that investing what you can lose

1. I use Bittrex and I will probably also use Poloniex in the future as not all exchanges offer all coins and it can vary, depends on what you'd like to invest in.
2. I haven't withdrew yet so I wouldn't know I'd probably give Litebit.eu a shot first
3. I look for something that actually adds value to the envoirment of crypto or businesses. I like to see coins that have potential actually providing a service or be a good alternative to BTC/Ethereum. Also I threw some bucks into a coin that I honestly have no clue about for the fun of it. (suprisingly doing well.)

I invest what I can spare. If I had more my portofolio would be larger as it is now. I've thought about taking up a loan as my budget is rather small but it would be contradictory as I'm trying not to have to take a loan EVER trough crypto. Set some goals on what you want to accomplish, one of my goals would be to purchase myself a tiny home.

Welcome to the crypto world, learn some stuff, have some fun and best of luck!

Most important advice I could give you is you can never ask too many questions!

I exchange alt in poloniex and bittrex. Excess poloniex if withdraw BTC fee its small awesome, if bittrex there fast profit many friends who help me in trading. my strategy follows the flow chart.

I am quite surprised to see there are still some people using Poloniex. After all the complaints that you can find here and there, I don't know anyone who would like to use it. After all, there are many alternatives to it.
Bittrex is fine if you have a smartphone to have 2FA because otherwise, your limit withdrawal is 0 BTC daily

Most of the people uses bittrex and Plolniex. I use to trade on bittrex and bitfinex because I like them for being simple to use in so I go for them. In my case I prefer the transaction confirmation time more than the transaction fee where I use a local exchange. I have a very little investment as I don't have enough budget for trading but I follow a simple rule of buying at a low cost and selling at a higher. I am very keen with all the trading stuff because I can afford a little risk so I invest up to the level where I can bear it for a loss. Don't take much risk.  :)

1) I trade in bittrex and poloniex , both of site is good for trade.Both site has big volume but poloniex is bigger then bitterex.but bitrex has a huge amount of coin list.so why most of the time i use bittrex for trade.
2) I use localbitcoin for it.
3) Buy with low price sell with high rate.also buy and hold for next pump... I invest 30% of my income in crypto trade.

it is the same story with using bitcoin instead of traditionally monetary systems. people are used to all of them and find it hard to change. it is because people often have a hard time changing their habits. they start using the biggest exchange (poloniex here) and get used to it. so they often find it too hard to switch just because of issues which may very well exist elsewhere too.

1. I love bittrex because of their high withdrawal limits after basic verification and 2fa. Poloniex is like shit right now.
2. I am ok with USDT which is available in bittrex, I don't deal with USD because I can't withdraw them to my local bank account. You can try kraken for this.
3. I can't disclose how much I have in crypto but playing with less than $1000 can't bring any significant profit. Buy low and sell at high price is the ultimate trading strategy.  ;)

1. GDAX. Only Drawback is that they only offer BTC, LTC and ETH but there are zero fees if you use maker orders. Huge plus once you start trading at larger volumes. Those fees will start to eat at your profits.
2. Easiest place I've found is Coinbase. Fees are there but that's just part of the game, gota pay to play.
3. Buy the dips and hold. Watch the markets for a few weeks and get a sense for how things are moving based on current news/sentiment/etc. Wait for some FUD/bs news to knock the prices off their ATH and scoop up some cheap coins. Scared money don't make money!

Welcome to the game man

You have rightly explained all the reliable exchanges which a trader can use for exchange. I will suggest you to go with Bittrex only instead of giving every other exchange a try. It is the most trustworthy and reliable exchange as compared to any other exchange available so far. There is hardly any match of it.

Bittrex is good suggestion since these is the best place for a newbie to go exchange there coins and also they can learn more from it since the platform is easy to understand by new comers, But before entering the trading games they should learn first the basic things on it so that they can act correctly whenever they will wish to earn with it by the time they will facing off the real scenario of trade games.

1. in my opinion bitrex and poloniex are big enough exchanges, so you are free to choose which exchanger.
2. local exchanger
3. General statistics in trading are low buy and sell high, but if you ask how much investment is given, then the answer is as much as we can afford to lose.  ;)

for me poloniex is a cheaper buy and sell comparison to bittrex even if the bitcoin withdrawal fee is also cheaper compare to bittrex. There are many good altcoin in poloniex in bittrex with that shitcoin but most of it is shitcoin. with new altcoin in poloniex omisego. for now my trading strategy is buy low sell high only.

I will second to all what you have said without having a second thought even. I think Bittrex is the best possible exchange which is available and is most convenient to use. There are number of traders who trade using this exchange and it is the most widely and most trustworthy exchange.

yeah, that trading fee of bittrex (0.25%) is really felt when you are trading a lot. it can accumulate to a considerable amount of money after a while.
but sadly poloniex has a lot of issues that makes me still stick to bittrex. of course there are also other exchanges. you shouldn't restrict yourself to just the two. bittrex can eventually fall to the same faith. polo was not bad in the start either.

So, I will try to answer your queries in Requested order.

1) I trade altcoins on BITTREX exchange, they are the best. Previously I used POLONIEX, but I had to stop using them from past few months, as they have high negative feedback from customers, specially on payment system and also their volume is less than bittrex. Bittrex is best to use because it has high Trading volume than other exchanges which means they have high liquidity than other's, they are regulated in the USA which shows that they have good security, they also allow the peer to peer loans service and apart from all these they do provide the best customer support, and they are almost active on most of the time.


2) I use UNOCOINS for exchanging with my local currency and their fees are comparatively low than other's approximately around 1%. Its best for me and apart from this I also use ZEBPAY and even they are good to use.

3) My strategy is simple and powerful, and it is TREND FOLLOWING. Ride the trend by following the DOW THEORY and then invest in dips and take profit when you gain 15%to 20% profit on your investment on your each trade. Investment depends on you how much you can afford to lose. Beginners are requested to trade with small capital($100 to $200) at least for three months and if successful, then you can move forward to big capital.

hope it helps. :)