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Author Topic: where do you other us citizen trade at  (Read 145 times)
samdan777712 (OP)
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December 13, 2019, 09:33:02 PM
 #1

I'm beginning to notice that usa citizen don't have options as a trader. Kraken is deeply illiquid from what I saw on the charts today, and coinbase has insurmountable fees. We've been banned from everything and kicked off everything. Krakens fees are too high also unless you are churning a several thousand dollar position a dozen times a day you can get a volume discount (which would work for me) but its pointless without the liquidity.

I honestly don't know where people trade at anymore, or how a us citizen even could effectively trade in this market with all the options we've had taken from us.
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December 13, 2019, 10:12:13 PM
 #2

I'm beginning to notice that usa citizen don't have options as a trader. Kraken is deeply illiquid from what I saw on the charts today, and coinbase has insurmountable fees. We've been banned from everything and kicked off everything. Krakens fees are too high also unless you are churning a several thousand dollar position a dozen times a day you can get a volume discount (which would work for me) but its pointless without the liquidity.

I honestly don't know where people trade at anymore, or how a us citizen even could effectively trade in this market with all the options we've had taken from us.

Binance US  is a branch of Binance.com that focuses on providing a market for US users but the volume is still small and # of listed pairs are still  limited. You can also try our Coinbase. Despite Binance saying goodbye to US users, most US users still find their way to Binance. That's where volunis currently available. The first step to choosing a good exchanges trading volume. No trading volune == low liquidity. That's a major problem for Binance US at the moment.

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nicolas1979
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December 14, 2019, 04:36:16 AM
 #3

You can chose any exchanges you like but I prefer local exchanges and one international exchanges to support your activity. So far Binance and Kucoin has good reputation, many event or competition release with high reward that we can use for trading/ investment activity. See exchanges from coin list and volume, that's the first parameter you should analyze.

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jrrsparkles
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December 14, 2019, 09:24:45 AM
 #4

Some of the most popular crypto Exchange for US customers are Binance US,Karaken,Gemini,Poloniex,Bitstamp,and kraken.If you are looking for an exchange with low trading fee then Binance will be the best choice for you which has no deposit fee,0.1% as trading fee and most number of trading pairs compared to other trading platforms I did mentioned above.

For fee and other details about all the exchanges mentioned above: Best Bitcoin Exchange for US in 2019









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figmentofmyass
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December 14, 2019, 10:24:22 AM
 #5

I'm beginning to notice that usa citizen don't have options as a trader. Kraken is deeply illiquid from what I saw on the charts today, and coinbase has insurmountable fees. We've been banned from everything and kicked off everything. Krakens fees are too high also unless you are churning a several thousand dollar position a dozen times a day you can get a volume discount (which would work for me) but its pointless without the liquidity.

I honestly don't know where people trade at anymore, or how a us citizen even could effectively trade in this market with all the options we've had taken from us.

if you combined kraken's USD and EUR markets, they would be competitive with coinbase in terms of volume and liquidity. the USD market is pretty thin on its own. bitstamp's fees are the same as coinbase pro so that's out the window, and gemini's liquidity is super thin.

so if you need deeper liquidity but can't reach coinbase pro's higher volume fee tiers, i would use a VPN and trade on bitmex, binance (BTC/USDT), or bitfinex.

panganib999
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December 14, 2019, 02:03:27 PM
 #6

Binance US or local exchanges like LocalBitcoins ( beware of scammers). Besides, the problem with Kraken can easily be resolved with time, so I see no problem with that. If you don't mind transaction fees, there's Coinmama but I'd really rather not and would rather just go to BinanceUS or Coinbase. If you're desperate enough, go to other countries. Some exchanges are a lot easier to access by then. If you don't, then either prepare for exchanges that require extensive KYC, or exchanges with pretty high fees. THAT, or wait for exchanges liquidity to go high enough.
samdan777712 (OP)
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December 14, 2019, 04:58:28 PM
 #7

kraken is normally probably twice what it was, this is a low liquidity period in the market. But if we get an extended bear market in the 2000s in 2020, than you can kiss the liquidity goodbye. The fees on coinbase are so astronomical and im not sure the volume tier matters. Whearas on kraken it is achievable for  a normal profesional trader, it only takes a week maybe to get the fees down to .05 instead of .26 x2 or god forbid the full 1% on coinbae. I mean coinbase is 1% roundtrip, that is not a exchange for traders period, by definition. Regulators stranded americans on low liquidity exchanges. We need asian exchange that is where all the volume is at, Asia.

There's good reason to believe anon derivative exchange are coming to an end. Rumors about bitmex enforcing kyc. im sure bybit will follow, pretty sure deribit will force it in january, here now.
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December 14, 2019, 07:00:30 PM
 #8

There's good reason to believe anon derivative exchange are coming to an end. Rumors about bitmex enforcing kyc. im sure bybit will follow, pretty sure deribit will force it in january, here now.

I agree that's where things are headed long term. I'm hoping we get one more good bull market before regulators destroy everything.

Deribit is a separate case from other derivatives platforms because it's operated from the Netherlands. They are facing upcoming implementation of the 5th Anti-Money Laundering Directive next month.

They may leave the Netherlands outright as a solution:

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Deribit, an Amsterdam-based derivatives exchange, has even hinted at the possibility of exiting the Netherlands as AML/KYC requirements are placed on its exchange this coming January.

“If we continue to operate in the Netherlands, we will need to have those things implemented,” said CEO John Jansen in early October on the Flippening podcast on the coming Dutch interpretation of AMDL5.

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December 14, 2019, 11:05:17 PM
 #9

So far Binance and Kucoin has good reputation
I agree, and although I can't use binance anymore I do use kucoin and they're just fine.  In fact, they're almost just as good as binance is, and they offer all the coins I currently buy.  Never had any problems with them either, unlike some other exchanges.

I also agree about coinbase and their fees, and that isn't the only problem with using them.  They watch what you do with the bitcoin you buy there, and you can bet the U.S. gov't knows as well.  I'd trust them not to scam me but I'd never use them as an exchange.  Ever.
samdan777712 (OP)
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December 14, 2019, 11:57:21 PM
 #10

man kucoin woudl be great for futures if they werent so damn illiquid, their open interest is just far too low for a serious trader.
I'm afraid to get my hopes up about john and marius leaving the netherlands. But I'm not happy that they haven't stated months ahead of the kyc. CZ angered me but not nearly as much since he gave me four months head advance. Deribit is essentially implying that they are going to unceremoniously throw my ass off come january 1st or the 10th...day s effectively. I'm enraged over it, I prefer deribit to ALL the other exchanges.

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December 15, 2019, 12:16:11 AM
 #11

I'm beginning to notice that usa citizen don't have options as a trader. Kraken is deeply illiquid from what I saw on the charts today, and coinbase has insurmountable fees. We've been banned from everything and kicked off everything. Krakens fees are too high also unless you are churning a several thousand dollar position a dozen times a day you can get a volume discount (which would work for me) but its pointless without the liquidity.

I honestly don't know where people trade at anymore, or how a us citizen even could effectively trade in this market with all the options we've had taken from us.

US is the is ranked 1 as the biggest cryptocurrency possesions before china, so i think making the exchanges that only for US users is good decission since the volume of their daily trades will be already so high. Just like binance for creating binance US and other exchanges that make US exclusives exchange.
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December 15, 2019, 03:42:49 AM
 #12

I'm beginning to notice that usa citizen don't have options as a trader. Kraken is deeply illiquid from what I saw on the charts today, and coinbase has insurmountable fees. We've been banned from everything and kicked off everything. Krakens fees are too high also unless you are churning a several thousand dollar position a dozen times a day you can get a volume discount (which would work for me) but its pointless without the liquidity.

I honestly don't know where people trade at anymore, or how a us citizen even could effectively trade in this market with all the options we've had taken from us.

US is the is ranked 1 as the biggest cryptocurrency possesions before china, so i think making the exchanges that only for US users is good decission since the volume of their daily trades will be already so high. Just like binance for creating binance US and other exchanges that make US exclusives exchange.
The reason why BInance launched a separate exchange for US customers as BInance US due to regulatory issues.

Creating separate exchange for US customers doesn't give any assurance of people will use your exchange when more exchanges with a good reputation are already existing but you will face the regulatory issues just like any other exchange.

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