What exchange to use?

[captianjojo]

I was wondering what exchange will let me buy/sell bitcoin quickly so I can do day trading.

[MedvedTrader]

GDAX is very high-volume, US-based and pretty reliable.

If you're going to daytrade on GDAX - try Medved Trader, PC software trading platform. It connects to GDAX (and a bunch of other more conventional brokers) to pull down the data and uses it for the trader's tools - charts, tech. indicators, scans, alerts, etc. This kind of software is common for traders in regular markets, but is severely lacking for crypto trading. That's why we connected it to GDAX, so that crypto traders can utilize the same methods to trade that Forex traders can (since crypto is basically Forex).

Integrations with other exchanges (Bitfinex and HitBTC to start with) are coming shortly.

It doesn't cost anything to try - go to www.medvedtrader.com, register, download the software and run it.

[Plie]

I frankly discourage you to use Kraken, it is so hard to use that you could lose your opportunity to buy or sell. Therefore I recommend you something else.

[crairezx20]

Well i think better to choose what are exchanges which is high volume so that the trading are fast..
Look at this https://coinmarketcap.com/currencies/bitcoin/#markets
If you are looking bitcoin trading site you can see the ranking list of exchanges ..
You can also choose other exchanges depends in what coin you want to trade. .

[captianjojo]

GDAX is very high-volume, US-based and pretty reliable.

If you're going to daytrade on GDAX - try Medved Trader, PC software trading platform. It connects to GDAX (and a bunch of other more conventional brokers) to pull down the data and uses it for the trader's tools - charts, tech. indicators, scans, alerts, etc. This kind of software is common for traders in regular markets, but is severely lacking for crypto trading. That's why we connected it to GDAX, so that crypto traders can utilize the same methods to trade that Forex traders can (since crypto is basically Forex).

Integrations with other exchanges (Bitfinex and HitBTC to start with) are coming shortly.

It doesn't cost anything to try - go to www.medvedtrader.com, register, download the software and run it.

Are there any exchanges that I don't have to verify my identity?

[LeGaulois]

I frankly discourage you to use Kraken, it is so hard to use that you could lose your opportunity to buy or sell. Therefore I recommend you something else.

If using Kraken is too much difficult for you to use then it may be better for you to not use anything at all. Can't make it easier and everything is clear and there is no way to make confusion. A 12 years old kid can use Kraken without any help and place orders even with the advanced options.

[MedvedTrader]

Are there any exchanges that I don't have to verify my identity?

Don't know, maybe there are but definitely not US-based ones. I prefer to deal with US-based entities, since if there is any dispute, at least they are reachable by US laws. A lot of exchanges hide very effectively their locations and owners' identities, which is all well and good if everything is running smoothly. But if there is any kind of problem...

[marky89]

GDAX is very high-volume, US-based and pretty reliable.

I use GDAX, but I would call it anything but reliable. The API and trading engine tend to drop out during high volatility, so it can be a terrible place to exploit intraday volatility. I've sometimes been locked into losing positions due to their frequent downtimes.

I was wondering what exchange will let me buy/sell bitcoin quickly so I can do day trading.

None of the exchanges are without their problems. I'm weary of Bitfinex because of their interaction with securities and lack of licensing, and also because of the still-unexplained "hack" last year. GDAX and Gemini are okay, but liquidity is not ideal and they are both prone to downtime. Kraken is very unreliable and is also an unlicensed MSB.

Bittrex and Poloniex both offer lots of altcoin and USDT markets, but no actual USD markets and both platforms have a high rate of complaints if you look into it. Bitstamp is probably one of the most trusted platforms (along with GDAX and Gemini). I'd rate their trading engine and liquidity as average. Regarding fees, your best bet is GDAX: no fees for maker orders. There are high fees for market orders, though, so don't use them.

[illinest]

Are there any exchanges that I don't have to verify my identity?

There are less and less exchanges that don't enforce KYC these days. Now that cryptocurrencies are going mainstream, governments/regulators/law enforcement are all watching. Ever since the shutdown of BTC-e earlier this year, Bittrex and Poloniex have instituted new verification regimes. I think they require quite a lot of personal information for new accounts now.

There is no KYC required on WEX.nz, the reincarnation of BTC-e, but given that their predecessor was shut down by the FBI, it might be a little risky trading there. Yobit is a small exchange that offers lots of altcoins (and also a BTCUSD market) that doesn't require KYC. I've never had any problems with them, but there are some complaints about them on the forum.

[riils]

Wex is just as bad as BTC-e if not worse. Stay away. Wex have taken it upon themselves to steal close to USD$70,000 worth of currencies from me. This was money for my two children to go to college. Nice going Wex! How's that for positive public relations for you. I hope the criminals responsible at Wex use that money to overdose on drugs and wake up in Hell.

Well said!! But you should have never sent that much money to shady exchange like that. Or ANY centralized exchange. They are all crooks and they all steal.

[sunsilk]

Well said!! But you should have never sent that much money to shady exchange like that. Or ANY centralized exchange. They are all crooks and they all steal.

I've never used Wex before and I don't plan of using it in the future by just reading your testimonials about that exchange.

There are so many exchange that you can use for day trading and it all depends on where you live, if you are good with coinbase you can use it.

There is bittrex, bitfinex, poloniex and many more.

[osasshem]

I was wondering what exchange will let me buy/sell bitcoin quickly so I can do day trading.

I recommend localbitcoins.com for you, as a safe and fast way to buy and sell bitcoins. Bittrex, poleniox, bitfinix are other good ones that I have heard of, but I have not used any of these except localbitcoins.

[kodtycoon]

I was wondering what exchange will let me buy/sell bitcoin quickly so I can do day trading.

Many exchanges are available, but not all exchange platforms are recommended. I personally have been using bittrex for a long time and I've never had a problem there. You just need to enhanced your bittrex account level by giving more identity like selfie photo, ID card etc. That way your bittrex account will be safe and will not be disable like most cases of users who have problems with their bittrex account.

[illyiller]

I was wondering what exchange will let me buy/sell bitcoin quickly so I can do day trading.

Many exchanges are available, but not all exchange platforms are recommended. I personally have been using bittrex for a long time and I've never had a problem there. You just need to enhanced your bittrex account level by giving more identity like selfie photo, ID card etc. That way your bittrex account will be safe and will not be disable like most cases of users who have problems with their bittrex account.

Actually, some users with enhanced verification already activated have reported that their accounts were locked. I'm very wary of using Bittrex right now. I think all these complaints will blow over, but right now, it's not worth the risk.

With the legally precarious situation at Bitfinex, Wex and other unlicensed exchanges and the account/withdrawal locking at Bittrex and Poloniex, I'm only comfortable trading CFDs and derivatives right now.

1Fox (run by 1broker) launches on the 24th. I'm very excited about that. For now, I do all my trading on BitMEX. No KYC, no selfies. Just deposit BTC, trade with leverage, withdraw BTC.....