Bitcoin Forum
January 17, 2019, 08:14:16 AM *
News: Latest Bitcoin Core release: 0.17.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1] 2 »  All
  Print  
Author Topic: for beginners, how do you decide which crypto exchange to use?  (Read 140 times)
bigdatadennis
Newbie
*
Offline Offline

Activity: 30
Merit: 0


View Profile
July 05, 2018, 07:36:10 PM
 #1

certainly there are a few big names, but there are also smaller, boutique exchanges, some more localized too. how do you decide which exchange to use and what factors are most important for you? (if possible, rank them)
1547712856
Hero Member
*
Offline Offline

Posts: 1547712856

View Profile Personal Message (Offline)

Ignore
1547712856
Reply with quote  #2

1547712856
Report to moderator
1547712856
Hero Member
*
Offline Offline

Posts: 1547712856

View Profile Personal Message (Offline)

Ignore
1547712856
Reply with quote  #2

1547712856
Report to moderator
PLAY NOW
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1547712856
Hero Member
*
Offline Offline

Posts: 1547712856

View Profile Personal Message (Offline)

Ignore
1547712856
Reply with quote  #2

1547712856
Report to moderator
MintDice
Member
**
Offline Offline

Activity: 224
Merit: 46

MintDice.com


View Profile WWW
July 05, 2018, 08:00:54 PM
 #2

Where you are located plays a huge role as some exchange platforms have geographical restrictions for users. Also, what are their depositing options? Does the exchange allow you to deposit fiat via a bank transfer for crypto or must you deposit crypto first (like btc) in order to purchase other coins? Some additional factors to consider are available coin pairs, liquidity, security, trading fees (withdrawal fees), customer support and even the platform's UI--is it easy to navigate for a beginner? Do some research and then some more research when you think you have nailed down an exchange platform that you like.

We have an exchange guide on our blog that you can check out to help you get started: http://bit.ly/GuideToExchanges

Cheers

M I N T D I C E ◉◉ MULTIPLE CURRENCIES. MULTIPLE GAMES. DONE BETTER. ◉◉ M I N T D I C E
Introducing the world's best fully featured cryptocurrency casino
▬▬▬▬▬▬▮ FacebookInstagramTwitterBitcointalk ▮▬▬▬▬▬▬
MCJamison1987
Newbie
*
Offline Offline

Activity: 191
Merit: 0


View Profile
July 05, 2018, 08:01:48 PM
 #3

i look for cheap tokens, as the risk is lower.
plus cheap coins like TIO, offer many interesting return to the members making me attracted to it.
At least a small investment would be good to give a try
Gytza
Member
**
Offline Offline

Activity: 133
Merit: 12


View Profile
July 05, 2018, 08:47:00 PM
Last edit: July 06, 2018, 08:50:22 AM by Gytza
 #4

certainly there are a few big names, but there are also smaller, boutique exchanges, some more localized too. how do you decide which exchange to use and what factors are most important for you? (if possible, rank them)

SECURITY: At first I used Coinbase. Beacuse it was the most popular and I felt safe. If you are a US resident, your Coinbase USD Wallet is covered by insurance, up to a maximum of $250k. If they were to suffer a breach of its online storage (digital curr.), the insurance policy would pay out to cover any customer funds lost as a result. As I am not a US resident I started to use Bitstamp.

FIAT PAYMENT OPTION: Then... I wanted to buy some alts but wanted to use fiat - so I started to use LiteBit.eu. For a newbie it was way easier than first buy btc/eth and transfer it to some other exchange in order to trade.

DON'T NEED TO SEND MY COINS AROUND THE WORLD AND BACK: Now, after few months I prefer DEXes for example IDEX, since I can trade directly from my MM or Ledger.

Other than these 3... I check the volume on CMC and just because of that sometimes I'd rather use KuCoin than IDEX
bedulook
Newbie
*
Offline Offline

Activity: 112
Merit: 0


View Profile
July 05, 2018, 10:05:01 PM
 #5

As a beginner the best exchange is the one you can familiarize yourself with the trading interface, get help from customer service and trade without much difficulty.
pwchan001
Jr. Member
*
Offline Offline

Activity: 122
Merit: 5


View Profile
July 07, 2018, 10:59:06 AM
 #6

I usually choose the exchanges that have high transaction volume because their markets are less likely to be manipulated by a few people. The second criterion that I will consider is the number of markets available, I prefer using exchanges that allow me to trade a wide range of altcoins

Welcome to feeless future! (https://discord.gg/tdN4ue6)
huuducitvn
Newbie
*
Offline Offline

Activity: 31
Merit: 0


View Profile
July 07, 2018, 11:03:19 AM
 #7

crypto exchange same ,all are easy to use , you can get acquainted easily
LucaBlight
Copper Member
Newbie
*
Offline Offline

Activity: 112
Merit: 0

WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN


View Profile
July 07, 2018, 02:00:38 PM
 #8

Much better to check reviews in the internet and it depends on what coin you want to trade

           ﹏﹏﹋﹌﹌ WPP ENERGY ﹌﹌﹋﹏﹏
☆═══━┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈━═══☆
≈ WORLD POWER PRODUCTION ≈


【 BACKED ASSET GREEN ENERGY TOKEN 】
☆═━┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈━═☆
wvizmanos
Jr. Member
*
Offline Offline

Activity: 168
Merit: 1


View Profile WWW
July 07, 2018, 03:15:32 PM
 #9

1. I choose which exchanges list my coins.
2. I consider trading volume
3. From these chosen exchanges I finally select the one with the highest trading volume (first criteria), and good value. Do note however that these two criteria don't always go together.
Harlot
Hero Member
*****
Offline Offline

Activity: 952
Merit: 549



View Profile
July 07, 2018, 03:24:45 PM
 #10

Aside from the low fees and high service reliability I always check about their legality. There are some well known exchanges that are operating illegally and you don't want to get your hands and  money tied to that kind of exchanges. Knowing that your exchange is a registered juridical person/entity than I don't think there are problem running them into some kind of legal liability. They are tied to by law and expect that there are no funny business as they are frequently monitored by the government.

.BITSLER.                 ▄███
               ▄████▀
             ▄████▀
           ▄████▀  ▄██▄
         ▄████▀    ▀████▄
       ▄████▀        ▀████▄
     ▄████▀            ▀████▄
   ▄████▀                ▀████▄
 ▄████▀ ▄████▄      ▄████▄ ▀████▄
█████   ██████      ██████   █████
 ▀████▄ ▀████▀      ▀████▀ ▄████▀
   ▀████▄                ▄████▀
     ▀████▄            ▄████▀
       ▀████▄        ▄████▀
         ▀████▄    ▄████▀
           ▀████▄▄████▀
             ▀██████▀
               ▀▀▀▀
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄             
▄▄▄▄▀▀▀▀    ▄▄█▄▄ ▀▀▄         
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄       
█  ▀▄▄  ▀█▀▀ ▄      ▀████   ▀▀▄   
█ █▄  ▀▄   ▀████       ▀▀ ▄██▄ ▀▀▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█  ▀▀       ▀▄▄ ▀████      ▄▄▄▀▀▀  █
█            ▄ ▀▄    ▄▄▄▀▀▀   ▄▄  █
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█ ▄▄   ███   ▀██  █           ▀▀  █ 
█ ███  ▀██       █        ▄▄      █ 
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀   
▀▄            █        ▀▀      █   
▀▀▄   ███▄  █   ▄▄          █   
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀     
▀▀▄   █   ▀▀▄▄▄▀▀▀         
▄▄▄▄▄▄▄▄▄▄▄█▄▄▀▀▀▀               
              ▄▄▄██████▄▄▄
          ▄▄████████████████▄▄
        ▄██████▀▀▀▀▀▀▀▀▀▀██████▄
▄     ▄█████▀             ▀█████▄
██▄▄ █████▀                ▀█████
 ████████            ▄██      █████
  ████████▄         ███▀       ████▄
  █████████▀▀     ▄███▀        █████
   █▀▀▀          █████         █████
     ▄▄▄         ████          █████
   █████          ▀▀           ████▀
    █████                     █████
     █████▄                 ▄█████
      ▀█████▄             ▄█████▀
        ▀██████▄▄▄▄▄▄▄▄▄▄██████▀
          ▀▀████████████████▀▀
              ▀▀▀██████▀▀▀
            ▄▄▄███████▄▄▄
         ▄█▀▀▀ ▄▄▄▄▄▄▄ ▀▀▀█▄
       █▀▀ ▄█████████████▄ ▀▀█
     █▀▀ ███████████████████ ▀▀█
    █▀ ███████████████████████ ▀█
   █▀ ███████████████▀▀ ███████ ▀█
 ▄█▀ ██████████████▀      ▀█████ ▀█▄
███ ███████████▀▀            ▀▀██ ███
███ ███████▀▀                     ███
███ ▀▀▀▀                          ███
▀██▄                             ▄██▀
  ▀█▄                            ▀▀
    █▄       █▄▄▄▄▄▄▄▄▄█
     █▄      ▀█████████▀
      ▀█▄      ▀▀▀▀▀▀▀
        ▀▀█▄▄  ▄▄▄
            ▀▀█████
[]
Oranium80
Jr. Member
*
Offline Offline

Activity: 126
Merit: 2


View Profile
July 07, 2018, 03:31:20 PM
 #11

well, i always try to go with the most known exchanges and when i have no choice than the one and only way to go is get yourself that wallet for that coin and after you purchased it make sure to withdraw it to your wallet, other than that i do like the exchanges that have their own coin as those are usually reducing the trading fees by minimum 50%

hope this was some of a help to some ppl

★ PRiVCY ➢ Own Your Privacy! ➢ Best privacy crypto-market! ★
✈✈✈[PoW/PoS]✅[Tor]✅[Airdrop]✈✈✈ (https://privcy.io/)
trumper
Full Member
***
Offline Offline

Activity: 406
Merit: 102



View Profile WWW
July 07, 2018, 03:58:30 PM
 #12

I actually use all of them, trying to choose those that don't require kyc but I only hold large amount of coins in binance or poloniex though I don't hold any coin in exchanges for a long time.

hugeblack
Sr. Member
****
Online Online

Activity: 574
Merit: 380


BTC2USD: Why Would I sell the future for the past?


View Profile WWW
July 07, 2018, 05:09:51 PM
 #13

Where you are located plays a huge role as some exchange platforms have geographical restrictions for users.
Bingo, this is the essence of the answer, if the platform does not support by your country/location, there is no need to inspect the rest of the restrictions.
The easiest way to buy Bitcoin depends on the amount of proof you provide. "The more docs, the faster & less fee."
If you have the option to make a decision, popular platforms are better than unknown because of Bitcoin exchange based on trust. The most important thing for these platforms is to keep their reputation and not scam you.

The Generics
Newbie
*
Offline Offline

Activity: 24
Merit: 0


View Profile
July 08, 2018, 12:44:34 AM
 #14

Please read the info about how to rank up. As far as i know, you have quotes to follow to step into next level. Im also a beginner so im also learning by myself.
macdevil007
Full Member
***
Offline Offline

Activity: 546
Merit: 100



View Profile
July 08, 2018, 02:03:31 AM
 #15

certainly there are a few big names, but there are also smaller, boutique exchanges, some more localized too. how do you decide which exchange to use and what factors are most important for you? (if possible, rank them)


No.1 factor for me to choose crypto exchange is the Trading Fee and the volume per day it has. Im a day trader so im sure i will spend a lot in trading fees and for the volume of tokens or coins means hows the movement of it daily? any sellers or buyers? you can check coinmarketcap for the list of exchange you may prefer.
pooya87
Legendary
*
Offline Offline

Activity: 1526
Merit: 1333



View Profile
July 08, 2018, 02:51:49 AM
 #16

certainly there are a few big names, but there are also smaller, boutique exchanges, some more localized too. how do you decide which exchange to use and what factors are most important for you? (if possible, rank them)
No.1 factor for me to choose crypto exchange is the Trading Fee and the volume per day it has. Im a day trader so im sure i will spend a lot in trading fees and for the volume of tokens or coins means hows the movement of it daily? any sellers or buyers? you can check coinmarketcap for the list of exchange you may prefer.

the first factor should always be security and being trustworthy. otherwise there has been exchanges that were terrible and scam but had huge volume which was fake. for instance the Chinese exchanges which had about 80% fake volume! or Yobit is a good example it shows huge volume but it is 90% fake. and the trading fees are more or less the same.

CryptoDamon
Jr. Member
*
Offline Offline

Activity: 100
Merit: 6


View Profile
July 08, 2018, 05:06:16 AM
 #17

certainly there are a few big names, but there are also smaller, boutique exchanges, some more localized too. how do you decide which exchange to use and what factors are most important for you? (if possible, rank them)

As a beginner these are the things you need to consider when choosing a crypto exchange.

1. Legitimacy of the company
      You need to make sure that the exchange is run by legitimate individuals. Reputation of an exchange is very important to avoid loss of fund from the people using the exchange.
         "Investors should evaluate exchanges and the companies that run them as they would any other institution that they would trust to secure their money, such as banks," said
           Richard Hendrix, cryptocurrency analyst at Real Ventures, a Montreal-based venture capital firm involved in this market.

2. Security
      Every exchange is vulnerable to attacks since they are holding huge amount of crypto. Make sure that the exchange is insured. Make sure that you will be refunded if a sudden
      hacking incident will happen.

3. Reliability
      You need to make sure that the platform is well built. No major glitches to avoid any loss when doing trades.
4. Customer Support
      This is very important. Errors are inevitable when it comes to an exchange. A good exchange do have better support system. Make sure that you are communicating with a
       human being when you are trying to ask for help or support with regards to a certain issue.
5. Fees
      This is very important for you to know how much are you charged for every transaction you make. Make sure there's no hidden fees.
     
      You can read more in here:
      https://www.cnbc.com/2018/02/28/how-to-choose-the-best-bitcoin-or-cryptocurrency-exchange.html
     
               
btc-deltacoin
Member
**
Offline Offline

Activity: 173
Merit: 11

ABLE: The New Era of Crypto Finance


View Profile
July 16, 2018, 05:02:00 AM
 #18

certainly there are a few big names, but there are also smaller, boutique exchanges, some more localized too. how do you decide which exchange to use and what factors are most important for you? (if possible, rank them)

If you are trading / investing you will have to use different exchanges. As for me, i prefer Huobi for its interface and Binance for its liquidity.

a b l e     / ♦️ \     New Era of Crypto Finance
                                                                  [   J  O  I  N    N  O  W   ]                                                                 
ankurguta87
Full Member
***
Offline Offline

Activity: 364
Merit: 117



View Profile
July 18, 2018, 11:56:54 AM
 #19

First of all security of the fund is the thing which matter most. Second thing is low fee. So all you need to look at a trustable exchange with low fee.
Please find the article of best cryptocurrency exchange 2018 to make your decision.
boyptc
Hero Member
*****
Offline Offline

Activity: 1064
Merit: 517


★777Coin.com★ Fun BTC Casino!


View Profile
July 18, 2018, 12:48:53 PM
 #20

Factor? is they should be registered. Exchange is a legit business so this is applicable for the centralized ones, I don't know how it goes for decentralized exchanges but there's the word. That makes it easier for you to give your concern if they have a reputation to protect and everything will follow as well by giving their customers an appropriate service and support.

Pages: [1] 2 »  All
  Print  
 
Jump to:  

Bitcointalk.org is not available or authorized for sale. Do not believe any fake listings.
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!