I want to withdraw Zcash (ZEC) from Kraken and deposit and Binance. At Binance I receive a deposit address, so only 1 code. At Kraken I have 2 fields that I need (obligatory) to fill in. field 1 is Zcash address. This is what I got from Binance. Field 2 is description, what do I need to fill in there?

Explanation for field 2 is: Unique description used to identify this address.
But still I dont understand what this exactly means?

Via funding/withdrawal I tried to withdraw crypto, but I get the following message:
This action is not available for tier level 2

Your current funding tier level (2) is insufficient for this functionality. Please further verify your account to increase your tier level and funding limits.

I do have tier2 verification and tier2 says I can withdraw $2.500 crypto per week. As this is the first time I am trying to withdraw I'm not sure if I did the right thing? Or is there perhaps still an issue with being withdrawals disabled?

I want to hodl. But to do so I first need to do 1 initial buy. And therefore there is almost no other possibility then to send crypto from one exchange to the other and trade it via one currency to the crypto coins I want to hodl.

Zou theoretisch gezien een verklaring kunnen zijn voor de januari dip waar alle Crypto fans de daling nu aan wijten.

I would like to buy a few alt coins at Binance. I will transfer XRP from Kraken to Binance. Next step is that I have to trade my XRP for BTC, ETH, BNB or USDT. Which one can I pick best?

Normally I would say I can calculate what would be my best pick. But by the time I made my calculation (in Excel) the orderbook is already changed.
Is it just a matter of pick a coin (for example BTC) and do my trades and hope I had the best coin to trade?

Ik had/heb nog wat fiat geld achter de hand. Vraag is nu wanneer zal ik mijn aankopen doen?
Op het moment van schrijven staat de markt als geheel iets onder de $500b markt kapitalisatie. Dat is vooralsnog zo'n beetje het laagste punt. Maar ja het kan natuurlijk nog veel verder dalen. En niemand heeft een glazen bol. Dus wat is wijsheid?

@Jansen227, ik ben niet geheel thuis op dit belasting vlak. Maar ik ben er vrij zeker van dat je alle kosten van het minen als aftrekpost mag opvoeren. En als je als BTW ondernemer kwalificeert kan je de BTW zelfs terug vorderen.

Ik betwijfel of we ooit met 100% zekerheid kunnen vaststellen hoe ze werken. Misschien zijn ze zelf actief op dit forum? 😋

Ik vind het wel een interessant onderwerp hoe exchanges en wisselkantoren werken. Zo vraag ik me al een tijdje af of en hoe er meer fiat geld in de Crypto markt komt?
En mogelijk komt er via de exchange handel niet meer geld in de Crypto markt. Immers ik stort €200, koop jouw bitcoins en jij laat vervolgens €200 op je bank rekening uitbetalen. Daarmee komt er niet meer fiat geld in het Crypto systeem. Als ik jou een hogere prijs betaal neemt echter wel de markt kapitalisatie toe. Als dit klopt dan is het paradoxaal.

Today I have issues with steem website not working properly. Anyone else having issues?
Also feel free to answer my last questions...

Today I bought some crypto and the platform does preform much better. I don't know how quick other exchanges are so I can't compare. But I think it could and should be just a bit quicker. But for me this is acceptable.

I have exactly the same thought.

I'm not sure if they also disabled crypto withdrawals, but probably did. Cause they are scared that everyone will move their money.

Earlier today, when they wrote everything should work again, I directly had the 520error again. Now I succeeded to login, but according to their latest status update they paused trading.

Wat hebben ze nog steeds? Ik neem aan dat ze geen verkoop van Ripple accepteren?

Wat ik obv de cijfers erg vreemd zou vinden. Want volgens CMC hadden ze in de afgelopen 24 uur een omzet van meer dan 6mio. En daarvan was 385k Ripple. Dat zou betekenen dat er enkel mensen voor 385k Ripple hebben gekocht via Litebit?

Ja, en daarmee blijft de vraag bij hoeveel transacties en/of bedrag dat je gebruikt om te handelen, ziet de BD dit als je beroep?
Iemand moet de BD toch maar even bellen. Wie o wie stelt zich vrijwilliger? :-P

In the past 2 days Kraken was offline. They planned some maintenance which should last a few hours, but in the end it took 2 days as they encounterd a lot of problems.
In the latest status update I read "withdrawals are temporary suspended".
I'm pretty sure that withdrawals is referring at least to cash withdrawal. But I'm not sure if it also refers to crypto withdrawal. What do you think?
Is it possible, at this moment, to transfer crypto (for example Ripple) from Kraken to another exchange?

This fully answers my question, thanks!

I will actually move from kraken to binance. The binance table informed me that all deposits are free. So I can choose any coin that both exchanges have.
Then I found the kraken withdrawal fees https://support.kraken.com/hc/en-us/articles/201893608-What-are-the-withdrawal-fees-?mobile_site=true

It looks like stellar is almost for free. But it has a*. So perhaps there are some small side Letters, but I don't see anything.
I think I will go for ripple. 0,02 from $2 is only 4 cents. No need to search any further 😀

I'm not sure if I fully understand everything. So 1 more question :-)

If Binance has a coin that you can buy/sell on their exchange. It does not directly mean that you can transfer that coin from/to Binance from/to another exchange, correct?

Thanks for all your replies so far!

I understand that I should not only go there for the profits. It actually also draw my attention because quite some people say you can read interesting posts about crypto currency.
About the profits, I think the majority of people doesn't earn anything. either because they only read or they post lousy content. So I'm aware of the fact that I might also become part of the majority.

At this moment there are still a few things I don't understand about the way the Steem system works. Atm I have the following questions:
1. Who's paying? I mean there is a bunch of users that earns tokens for writing content. But if someone earns $1.000, there is also someone that has to pay that amount.
2. What happens when the maximum number of Steem is in circulation?
3. To earn money user 1 could upvote the post of user 2 and vice versa. If you do that with 100+ users they could all earn some money, correct?
(In relation to question 3, I know that if only users with very less Steem power do these upvotes, it won't have much impact. But the basic idea could work)

What do you think would be a good strategy to invest in altcoins?
What total amount would you invest? How many altcoins would you pick? and what amount per altcoin would you invest? Or go for different amounts for each coin?

I'll give an example to make my question(s) a bit more clear. Let's say I want to invest $250 in altcoins. Would it then be a good idea to pick 10 coins and invest $25 in each? Or is it better to pick 5 coins and invest $50 in each?

I always thought that if I transfer BTC that it could/would cost me fees to pay the miners to include my transaction in the blockchain, correct? And that those fees could go up to $25 or even higher.

How do I know if both exchanges accept the withdrawal&deposit of a certain coin?

Is dat zo en moet je kiezen?
Ik weet natuurlijk niet met hoeveel geld je aan het speculeren bent? Maar stel even dat het €250 is. Zelfs met zo'n bedrag kan je toch overwegen om 10 verschillende altcoins te kopen ipv slechts 1 of 2?
Of vind je dit een slecht idee?