Bitcoin Forum

So I don't own bitcoin any more but want to get back in the game and make a purchase.  What is the best exchange and do all them have fees for buying and selling each time?  Binance seem to be popular but coinbase pro doesn't seem far behind.

What's the difference between a stop and limit order?

The best exchange to use would depend on some factors, like your locality, your trying currency; fiat or some other cryptocurrency and also your stand on identity verification.
You can purchase through binance; they have a limit on withdrawals that can be made without KYC.
Localbitcoins is also a good medium to purchase.

A stop order could act as a means of preventing losses, if you enter into a trade, you can set a stop order to automatically pull out once it falls to a certain price.
A limit order is used when making purchases, if you do not want to use the market order, you set the price you want to buy or sell at, and once that value is met your order is filled automatically.
You should note that these concepts can have different applications in different contexts.

I'm in the US.  When you write KYC, are you referring to verification like the Google Authenticator app?

Does it take a few days to deposit a couple thousand dollars or can an of these exchanges take deposits within a few minutes?

No, KYC stands for Know Your Customer. It's a process webistes use to verify the identity of users of their service in compliance with financial regulations. You regularly would be requested to submit an identity card and indicate your source of income.

Typically it should take a few minutes.
Note that, I can only vouch for exchanges i have used personally.

I am not into trading though but you can buy in a lot of ways. The list below are alternative exchange to buy bitcoins.

• List of P2P/no-KYC exchanges (https://bitcointalk.org/index.php?topic=5180421.0)
• Help: A list of LocalBitcoin alternatives (P2P marketplaces) (https://bitcointalk.org/index.php?topic=5224711.0)

Just to add this reminder from 1miau.
[1] Why KYC is extremely dangerous – and useless
 (https://bitcointalk.org/index.php?topic=5221497.0)

Some ways of buying bitcoin from the USA in these articles. You can take a look there.

1. How to Buy Bitcoin Legally in the U.S. - Investopedia (https://www.investopedia.com/tech/how-to-buy-bitcoin/)

2. 9 Exchanges to Buy Bitcoin & Crypto in the USA (https://www.buybitcoinworldwide.com/united-states/)

And these are some ways of buying bitcoin without KYC

1. Best Ways To Buy Bitcoins Without ID (How To Buy Bitcoins Anonymously) (https://coinsutra.com/best-ways-buy-bitcoins-without-id-buy-bitcoins-anonymously/)

And I also  suggest you to aware about KYC.

So is the difference in P2P, you don't put a buy order and wait, you buy or sell crypto directly to one another?

As far as I know, you are still going to wait in order to fill your order by someone who is also finding a trade partner for an exchange whether from fiat to crypto or crypto to fiat. The difference is, there is no intensive technical analysis compared to trading exchanges. Some p2p marketplace like https://localcryptos.com/ has an in-built script escrow to ensure that the trade will go smoothly and without getting scammed by an unknown person.

Furthermore, if you are planning to avoid KYC then using p2p exchange is a good idea.

If you want to purchase bitcoin instantly without waiting then you can go for "Coinbase (https://www.coinbase.com/)". By using your debit card you can buy bitcoin from there. As a beginner its better to follow hastle free way to get your bitcoin and after getting your bitcoin you can use " Coinbase" as a safe wallet. Coinbase havr the option of email to email crypto sending which is free of cost.  

Although coinbase bitcoin purchase fee through debit card is slightly higher (3.95%) but quite faster and safer.  
  

Do you intend buying bitcoin or just asking questions that Google can easily give you the answers for asking seek? Guess you're not new to the industry (based on your statement above) so why not just get those coins back on the low without making it a big deal or making much noise about them. Those that are truely interested in buying especially those with previous experience, will do that without putting much taught into doing that. Assuming you're interested and inquiring about perfect exchange to used in trading then it'll be understandable.

The two exchange you highlighted in your questions have quite decent fees, just used any of them and get the coins before the train leaves you behind although if I was ask to pick one, I'll recommend Binance as it's far superior to coinbase.

It really depends on the country you are living in and which currency you intend to sell. In all major countries are bitcoin exchanges that vary in fees. It also depends on the size you are looking to invest. It would be helpful if you provide a bit more information so people here can help you much better.

The OP has clearly written that he lives in the US (post number 3). Other members have posted links to more or less all the relevant guidelines that can help with the decision where and how to buy. Now it's just a matter of choice, or whether the OP wants to identify with its data and become a possible taxpayer in the future (in case of sale or payment with crypto), or wants to stay under the radar and use crypto a bit in the gray zone.

---

Considering Covid-19 in the USA, I know that the verification process, at least as far as Coinbase is concerned, has been quite slow because their employees work from home. I can't tell you what the situation is at the moment, but I don't think things have fully returned to normal yet.

Here is one bad experience from some 1+ months ago The WORST support ever. Meet Coinbase. (https://bitcointalk.org/index.php?topic=5239466.msg54302474#msg54302474)

As for fiat deposits, if you buy with debit card it should be instantly, but for bank transfers it can take 3-5 business days. You can read more info How long does a purchase or deposit take to complete? (https://help.coinbase.com/en/coinbase/trading-and-funding/buying-selling-or-converting-crypto/how-long-does-a-purchase-or-deposit-take-to-complete.html)

If your country is supported by coinbase that can cash in through banks it is a good option, no hassle and you can withdraw at the same time directly to your banks, That's is why coinbase is popular even they only have few coins listed compared to binance. But if you want to do some trading stuff, I suggest go to binance directly. Youtube has some tutorials about these trading terminologies I guess it is easier to learn from there because you can see an actual trading overview.

If Google can answer every question, why is this forum here a** hole?  How am I making this a big deal, I'm trying to find the most effective way to purchase it and it seems like their is a thousand ways.

Great, atleast you're one of them genuine newbies per say (hopefully). Over my period of assisting newbie on this section of the forum I have encountered many newbies asking this sort of questions and isn't funny anymore when they're repeatedly ask and you realized most of them are just asking so they get noticed and presume to be in help but weren't really in need of the responses they received.

PS: you're on a public forum, try to mind your language and goodluck on your re-purchasing of those bitcoin. Also sorry if I must have offended you in anyway, welcome to the forum and keep us updated on how your journey (like the exchange you used, etc) as it might be helpful to future enthusiast as they can easily be redirected to this thread instead of having this conversation again.

Your question is commonly asked and easy to got answered, it's why @CryptopreneurBrainboss say you should use search engine before ask in this forum. I believe you still have plenty question regarding cryptocurrency and this forum. What if you never use search engine and keep create new thread with a question has been answered many times? It will make this forum mess.

Let me show you, how many times user in this forum create a topic about "best exchange"

• The best exchange in 2019? (https://bitcointalk.org/index.php?topic=5171309.0)
• Best Cryptocurrency Exchange 2020 (https://bitcointalk.org/index.php?topic=5216719.0)
• Top 5 Exchanges (https://bitcointalk.org/index.php?topic=5043755.0)
• what is the best exchange in 2018 (https://bitcointalk.org/index.php?topic=4414949.0)
• what is the best crypto trading exchange 2020 ? (https://bitcointalk.org/index.php?topic=5218689.0)
• The best crypto exchange (https://bitcointalk.org/index.php?topic=5107249.0)
• What are the best cryptocurrency exchange software? (https://bitcointalk.org/index.php?topic=5220063.0)
• what are the best exchange sites? (https://bitcointalk.org/index.php?topic=2511790.0)
• So what is your favorite crypto exchange for trading in 2019?🔥🔥🔥🚀🚀🚀 (https://bitcointalk.org/index.php?topic=5183575.0)
• Which is the best cryptocurrency exchange (https://bitcointalk.org/index.php?topic=2205008.0)
• What is a good exchange (https://bitcointalk.org/index.php?topic=3181452.0)

Many thanks dude

I'm using those both platform for binance and coinbase for buying a bitcoin because it is more easier to me but in some instance you need to make a KYC for verification and it is more easier to use the platform because they know you are a real human and not a robot because they want to avoid having too much spams on their accounts and platform

• Stop profit or loss

This kind of method on earning is you are giving some range or settings the platform that if you get a profit already you will stop this position on this market price the same with the loss if you buy long and you are getting too much lose on your ROE you will stop at this.

• Limit if you have a specific position and you want to avoid losing your funds and don't want to get liquify you are using this to close the position when you are losing too much funds.

I hope this will help you to understand those terms.

I am sorry for missing that you are based in US. My bad. I am doing some bitcoin trading myself and could have helped with markets in Austria, Germany, Switzerland.

If you really want to start actively trading short term, than go for one of the biggest exchanges. But if you are looking for a few purchases and more with a Buy & Hold approach, then there are people selling also on this forum and you might be able to save some fees.

https://bitcointalk.org/index.php?board=53.0 (https://bitcointalk.org/index.php?board=53.0)

Just make sure to buy only from trusted members with a higher rank.

Sorry, I can't be of more help.

I will be honest, one of my clients had tried to buy bitcoin with credit/debit card. He have tried multiple sites and become regret. Eventually had suggested him to try Binance and he were satisfied although their is limits. Of course you have to become verified user (must verify your account with appropriate documents and selfie). So since you want to trade as well so you may try Binance exchange to buy and trade bitcoin. Anyway we aren't your financial advisor, we just raise suggestions based on our experiences, do your own diligence before take any financial decision. We will not responsible for any losses.

I agree with you that Binance is a very good place to buy bitcoin less likely to be lost here But it would be best to analyze the market yourself and then buy bitcoin as it will increase both your knowledge and skills. Be able to learn a lot about the market and different sites. I use and hold Binance to invest in bitcoin In case of investment, the fee is much less and it is much easier to set up Every trader invests a lot of bitcoin safely.

Before I ask here I google first if the information regarding on my question is available on the net since there are so many things we can get if we are just being resourceful on things and regarding to your question on what is difference between stop and limit order here you can read the difference on this article https://www.investopedia.com/ask/answers/04/022704.asp this is far informative than reading the opinion which may not suitable for the one you want to read.

If you don't own bitcoin, you won't be able to do trading at binance and there is no point to know what is stop and limit order. You need to have bitcoin first in order for you to trade.
First tell me in which country do you live and i will help you find out which is the best site to buy bitcoin. Also note that coinbase does not support all countries for buying selling bitcoins.