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Author Topic: Whats a good site for BTC/€ Daytrading with IBAN withdrawal?  (Read 38 times)
Bitcoiz2n
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March 03, 2018, 01:10:14 AM
 #1

Looking for a site to start Daytrading on. Unfortunately in the past since BTCs early days sites that offered instant exchanges often turned out as scams and ran away with tons of BTC after some years...

Is there any safe European one that offers instant BTC/EURO exchanging and IBAN withdrawals?
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exstasie
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March 03, 2018, 03:19:46 AM
 #2

Looking for a site to start Daytrading on. Unfortunately in the past since BTCs early days sites that offered instant exchanges often turned out as scams and ran away with tons of BTC after some years...

Is there any safe European one that offers instant BTC/EURO exchanging and IBAN withdrawals?

Not sure about European exchanges, but GDAX (Coinbase exchange) is a very reputable and licensed US exchange. They have BTC/EUR markets and process SEPA transfers in 1-2 business days.

Here's a list of supported European countries and info about depositing/withdrawing EUR.

I like to day trade on GDAX because there are no commissions on maker (limit) orders. So I trade fee-free. And I feel more comfortable storing funds there than most other exchanges.....they are licensed, hold fiat funds in insured bank accounts, and apparently 98% of coins in custody are stored offline.

Bitcoiz2n
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March 03, 2018, 03:59:38 AM
 #3

Looking for a site to start Daytrading on. Unfortunately in the past since BTCs early days sites that offered instant exchanges often turned out as scams and ran away with tons of BTC after some years...

Is there any safe European one that offers instant BTC/EURO exchanging and IBAN withdrawals?

Not sure about European exchanges, but GDAX (Coinbase exchange) is a very reputable and licensed US exchange. They have BTC/EUR markets and process SEPA transfers in 1-2 business days.

Here's a list of supported European countries and info about depositing/withdrawing EUR.

I like to day trade on GDAX because there are no commissions on maker (limit) orders. So I trade fee-free. And I feel more comfortable storing funds there than most other exchanges.....they are licensed, hold fiat funds in insured bank accounts, and apparently 98% of coins in custody are stored offline.
Oh wait wow I've used the GDAX BTC Chart for some months now, I thought they were only a charts-site and not an exchanger because I never visited anything but their charts.

I probably shouldn't have said "European". If the site offers SEPA that's totally cool regardless of their host location.

Of course GDAX supports every Euro country but mine: Germany.. God, I hate this country if it comes to anything financial.
But I googled and it seems with some extra verification steps they still accept users from Germany. I'll contact them and make sure.
GDAX is 6 years old and seems extremely legit. It'd be exactly what I'm looking for.
alyssa85
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March 03, 2018, 11:19:38 AM
 #4

Looking for a site to start Daytrading on. Unfortunately in the past since BTCs early days sites that offered instant exchanges often turned out as scams and ran away with tons of BTC after some years...

Is there any safe European one that offers instant BTC/EURO exchanging and IBAN withdrawals?

Go with Kraken. It's American based, but has the biggest volume for the BTC/EUR pair. They also do SEPA withdrawals through Fidor bank (of Germany), which means if you request a withdrawal in the evening, it is in your bank account by 2 p.m. the next day.

Zocadas
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March 04, 2018, 08:48:55 PM
 #5

I wouldn't recommend to combine exchanging crypto/fiat with daytrading. I use several exchangers like Bitfinex, Poloniex, Cryptopia and Yobit for daytrading with small funds. The majority of my funds is in longterm invest on well established cryptocurrencies and is in my wallets. When I need an exchange to sepa, I use an exchanger like BitPanda. I heard, also Bitwala should be a good exchanger for payouts to Sepa. They even offer crypto based bank accounts.

   

 
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exstasie
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March 04, 2018, 10:51:04 PM
 #6

Of course GDAX supports every Euro country but mine: Germany.. God, I hate this country if it comes to anything financial.
But I googled and it seems with some extra verification steps they still accept users from Germany. I'll contact them and make sure.
GDAX is 6 years old and seems extremely legit. It'd be exactly what I'm looking for.

If not GDAX then I might check out Bitstamp. They're licensed by the Luxembourg government and they've been around since 2011 (basically the last early exchange left standing). I have trading friends who have been using them for years without any major issue. They do SEPA transfers. They used to convert all EUR deposits to USD to force all liquidity onto the BTC/USD market. I see they now have a BTC/EUR market, but I'm not sure how liquid it is.

One note on Bitstamp, though. Their AML/KYC procedures seem to differ from other exchanges. Some people report that they have been subjected to KYC questionnaires about sources of funds, etc. And some people have also had their accounts terminated without explanation. I think this is a pretty small minority, but just FYI.

Regarding Kraken....I've had bad experiences with site and API downtime there. I'm also less comfortable storing funds there. They don't hold any licenses and they deal with Tether.

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