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Author Topic: Newbie advice: BEST overall btc exchange service?  (Read 341 times)
flipstyle
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January 29, 2014, 01:36:21 AM
 #1

I've been perusing around a few threads, and I guess the consensus is to avoid mtgox like the plague.  Fair enough.  

But which of the remaining exchanges (for day trading) would be the best, all things considered?

Mind you, I'm not going to be depositing money from my bank (as I purchase all my btc through coinbase), and will be only depositing btc directly.  But I'm more concerned about the withdrawl times and overall dependability.

Any suggestions would be greatly appreciated, thanks!
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rbai63
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January 29, 2014, 04:02:51 AM
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Out off all exchanges for day trading and withdrawing I would suggest bitfinex.com

The reason I suggest you use them is because they are a secure and reliable site and offer a wide range of services for BTC and LTC. Their volume comes fairly close to bitstamp but with more options and lower fees. As a day trader you want to make money off the price of BTC going up and down. And it is crucial to have low fees, because when you are doing a lot of trading those fees add up. With .15% trading fees that's no problem. They offer 1-2.5 leverage margin trading, which lets you take long positions if you predict the price will go up or short bitcoin when the price goes down. Also, they let you lend or borrow BTC, LTC, and even USD. The return on lending USD right now on their site is over 90% APY, which is awesome. Bitfinex even has a promo going on right now, if you sign up using the promo code RAgkOOFTJL you get 10% off your trading fees for the first month.

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