Bitcoin Forum

Hi All,

Totally new to crypto so please be gentle!

I want to buy some bitcoin but would like some recommendations as to which Exchange to use. A friend says Coinbase is the best but I am already having issues with them and I havent even placed a trade yet (I opened an account on Coinbase Pro, waited for my account to become approved, got an email saying I can now buy via card but not link a UK bank account. So I went to buy with a card only to be told the account is still under review so I can't fund the account. The other issue is that the Coinbase Pro screen is awful especially the charting - why can't I see a full size chart or resize/hide parts of the screen? and why only 12 and 26 day MA?).

Anyway, so I thought whats the number 2 choice?

Any help appreciated.

Thanks

Silver

I would assume you want to mostly trade cryptocurrencies.
What do you most look for in an exchange; liquidity, security, privacy etc?

Exchanges are compared using a number of factors, so it is quite difficult to pick a number one exchange, most trackers use the trading volume metric, but that alone is not sufficient to pick an exchange

Binance is an alternative option for centralized exchanges, and for decentralized you can opt for hodlhodl or bisq; they may be a bit lacking in liquidity when compared with CEXes.

Hi there and welcome.

I've used coinbase before and registration to purchase took me only about 10 hours or so. Well, it's couple years back plus I'm pretty sure things differs with countries as well.
Next choice you should try binance.com

As of charting try tradingview.com or I like charts at bitfinex.com as well.


EDIT: also take a look at cex.io 
I think it's UK company.

I believe you are from the UK and the reason why you can't link UK bank account or debit/credit card is because the new rules set by FCA (https://www.fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers) does not allow retailer investment in cryptocurrency. You need forget about buying crypto with your card and buy using bank transfer through peer to peer.

You could use Binance since it provides the whole package in one. Spot and futures trading, staking, lending and borrowing, Deposits and Withdrawals both in crypto and fiat even from the UK so long as you are OK with KYC.

Here is a guide on how you can make deposits  -How to deposit to Binance by bank transfer with UK Bank? (https://www.binance.com/en/support/faq/482eef13f65e465282952f1e0920387c)

It's difficult to give a direct answer of which exchange is the best if you don't specify exactly what you want in an exchange. Some exchanges can approve your account quickly, but their fees can be quite high. While another can be easy to set up but rejects certain payment methods.

So far, I don't think one particular exchange can have every feature as some of them also delay their approval process too for beginners. As for the pro.coinbase chart screen, it has been an issue for some users and I still don't understand why Coinbase isn't doing anything about it, GDAX charts were better off. If you can ignore these flaws, you might still get the best out of the site.

In the meantime, as you wait for your approval, I suggest you play around and research some exchanges like Kraken, Binance, hodlhodl and bittylicious to see how they treat their UK users and if they have the qualities you want in an exchange before making a purchase of your coin. Another means is to find and consider P2P marketplaces.

Hi, since you you said you lived in UK, I just found this for your consideration choosing an exchange to buy bitcoin. https://www.buybitcoinworldwide.com/united-kingdom/

Remember, just to consider which exchange is the best, each exchanges have their own rules and fees. Choose the safest one (you can only now this after trying the platforms).

If you don't want to be headache with KYC, you can choose Binance that gives you free KYC requirements. KYC is required for P2P Binance or if you withdraw more than 2 BTC per day.

Two pure Peer to peer marketplaces can give you choices hodlhodl.com (https://hodlhodl.com/) or bisq.network (https://bisq.network/).
Other P2P marketplaces are centralized but you can check if decentralized is not what you're looking for: Help: A list of LocalBitcoin alternatives (P2P marketplaces) (https://bitcointalk.org/index.php?topic=5224711.msg53810894#msg53810894)

Binance, also it cheaper if you own BNB to do transaction or withdrawal

I suggest to stay with coinbase, regarding charts, move your crypto to binance or other exchange wherever you feel comfortable.

I think I recommend to the use of the binance because they are offering not fully verified users just to make transactions with their exchange. Depends on you what is the purpose why you want to have an exchange?.

You can easily use the binance too because they are supported having a card again this request to have verification if you want to buy them with the use of the card.

Binance is what I'm using for the rest of my time in investment and trading, and I don't find any problem with this platform.

I tried using Coinbase before but I don't know why I didn't settle on using their platform.

Both are secured and safe to use but we really have different preferences in using a reliable exchange.

I'm not knowledgeable about other lowkey reliable exchange so try to explore more.

I would usually go with any top 3 exchanges right now listed on coinmarketcap.

1. Binance
2. Coinbase Pro
3. Kraken

Complete List: https://coinmarketcap.com/rankings/exchanges/

Try poloniex or since they are few of the early exchange that is still running even though they face some issue in the past, they still doing fine until now, my personal opinion at one is poloniex, i made lots of transactions before and now, and there is no trouble doing it, so if you have time try poloniex and try to explore some of their other features.

One of my clients had the same issue with buying crypto a long time ago. He had tried much exchange where he hadn't got expected services. Eventually, I asked my suggestion to buy crypto. I had referred him to use Binance and eventually he bought Bitcoin successfully and his experience was quite good. But you should be ready to provide your KYC documents. Because everyone usually exchanges use a third party to process the payment during buy crypto with the card. So they would ask as well for your KYC documents. Now it's your choice, still, you can use coinbase or move into Binance. Just make sure you aren't holding a big amount on the exchange. Just move your assets after bought into hardware or noncustodial wallets.

Use Binance and all will be okay. Highest trading volumes & Stabilty

It seems convenient to use at least two different exchanges.

My vote also goes for Binance. But keep in mind, exchanges are for trading ONLY. Once you are done with your trading, withdraw anything you got into a desktop or even better a hardware wallet. Do not hold your crypto in exchange even if its Binance or any other big player.

Among other reliable options, I’d recommend Bitfinex, Phemex, StellarX (decentralized exchange) and Kraken. I personally user each of them for a reasonable period of time.

In my opinion, i think good to use the Binance well looks like the majority of the users recommended to is the use of the binance if you don't have an ID for their Know your customer verification (KYC) there's an option for the binance which is the VIP 0 AFAIK that you can withdraw with a min of 2 BTC daily. If you are not a large trader or investor good to use it. But I'm not saying the coinbase is not good its depends on your preference think where you become comfortable.

I'm in a similar position to Sliver, in that I'm fairly new to the crypto game, am in the UK and had trouble signing up to Coinbase. I've purchased coins with Binance and found them to be easy to work with after having watched a new good utube videos:

https://www.youtube.com/watch?v=YzJ6xkJpeUk

There also appear a discount to be gained from this utuber. I signed up before finding the video though so I couldn't try it to know if it's still valid. Having exchanged fiat to BTC I found their exchange fees to be reasonable but their transfer fees to be quite high. As somebody else mentioned, I think this can be lessoned by using BNB tokens which I'm set to try in the future. They look themselves to be quite a good investment at the moment.

So it the search to exchange and transfer while incurring the smallest possible fees, I found this website and article:

https://quickpenguin.net/how-to-buy-bitcoin-uk/

This places Binance second, just below Coinbase/Pro. Like Silver, I am having trouble with the sign up but it's my own fault. I signed up while connected through a VPN and as a result have my country not set to the UK on my Coinbase account. I emailed support who got straight back to me so I'm impressed with the customer service at this point. As soon as the public holiday is over I suspect things will get sorted and I will be able to use their Pro service as detailed in the article. I signed up for a seperate account for my business which works perfectly and was quick and painless - even on the public holiday.

Coinbase is sucks, use Binance instead of. Fast & low fees

I will recommend you to try Binance exchange! I personally like its ui and its top ranking exchange in coinmarketcap also. You should try it!

Here's a list of alternative  (https://coinmarketcap.com/rankings/exchanges/)if your first choice Coinbase doesn't give the services you need. Some altcoins are not in coinbase so the list will give you a list of exchanges to signup for. Try only the top exchanges, you most likely land on Binance since its the first choice for some of us and they are still one of the biggest so far in crypto since 2017.

When trading cryptocurrencies, it is important to use trustworthy exchanges. Scammers abound in the crypto world.

Binance would be my first preference. Binance has risen to popularity as one of the world's largest cryptocurrency exchanges. Other exchanges have been unable to compete with Binance's level of publicity.

I also prefer Binance because using Binance is enough for us to trade.
Binance has so many coins that we can trade and try to make a profit to trade various coins.
I do not know about the other exchanges you mention, but I know Kraken and I have an account on that exchange.
But still, I trade on Binance mostly and that helps me to make a profit.