Reputable exchanges for a newbie to start with

[Gorosden]

Dex exchange like Uniswap is also good but can be too dangerous for newbies that have no full understanding about erc20 tokens very well, all tokens have smart contract address and before buying any tokens on uniswap its better to know the token real smart contract because on uniswap scammers are making fake tokens with same name of popular tokens

[AniviaBtc]

I've only ever used coinbase for buying and selling bitcoin via an actual exchange. Binance might also be an option (I see it advertised that both accept faster payments). Binance is good for altcoin acceptance too.

Based on my experience, I found Binance very useful and effective for me. Although, I also use Coinbase as my exchange, I'm more comfortable with Binance because of its security and how easy it is to access. If you're also an altcoin investor and you don't focus only on bitcoin then you should try using Binance.

It still depends on you if you will try what I've suggest and then tell us about your experience with it.

Good luck on looking for an effective exchange for yourself!

[clifjw]

Reference transaction fee's, whereabouts is that in settings I'm not able to locate it?

I assume that you have finished creating your wallet and finished backing up your seed phrases on a piece of paper. You can easily see the transaction's reference under the Send Tab

Ah right Maus0728 I see. Sorry I thought it was in the settings. That's fine then, yes I see that.

Kraken has UK faster payments now and I've never had any trouble with there. Gemini is getting the same too soon and it doesn't get more solid than them. If you want to go shitcoin crazy then neither of those have a vast amount but they have a few.

Thanks gentlemand. I had heard that one mentioned, but it's not been pushed as much so maybe I'd better stick to Binance first as my first exchange, then looking into Kraken in a bit. Great to hear about the UK faster payments.



Thanks AniviaBtc, Gorosden & for your input.



Many of these exchanges have apps, is the preference to create your account on the website and use that mainly, or are the apps for Android just as safe to use? I say this only because of what I've read in this thread about Google Play Store apps being potentially dodgy versions. Does that happen with the exchange apps too or am I OK downloading and installing those from Play Store and creating an account/buying/selling that way?


Thanks guys.

[joniboini]

Does that happen with the exchange apps too or am I OK downloading and installing those from Play Store and creating an account/buying/selling that way?

Visit the official website and then follow the link for the apps from there, that would reduce the risk of downloading fake apps. I think it doesn't really matter from where you register, as long as the device that you use is secure.

[gentlemand]

Thanks gentlemand. I had heard that one mentioned, but it's not been pushed as much so maybe I'd better stick to Binance first as my first exchange, then looking into Kraken in a bit. Great to hear about the UK faster payments.
 

Kraken has been around since before Binance's staff were sperm yet to be made. Just because Binance makes a great deal of noise does not mean it's 100% dependable or proven.

They certainly get the job done but their status is questionable in more than a few jurisdictions. Kraken has never been hacked. Binance has.

[clifjw]

Kraken has been around since before Binance's staff were sperm yet to be made. Just because Binance makes a great deal of noise does not mean it's 100% dependable or proven.
They certainly get the job done but their status is questionable in more than a few jurisdictions. Kraken has never been hacked. Binance has.

Oh wow. Thanks gentlemand. I didn't know that. There I go learning again. I can't do anything at the moment without learning something new. 

Visit the official website and then follow the link for the apps from there, that would reduce the risk of downloading fake apps. I think it doesn't really matter from where you register, as long as the device that you use is secure.

Good to know joniboini thank you. Before crypto I've blindly trusted Play Store for any apps. My eye's are being opened to so much with getting involved with crypto. 



I've just created a Binance account, installed the app (and immediately jumped to lite mode for starters  ). I notice a lot verification prompts telling me do this, do that etc. I did the basic 2 Factor verification, but is it necessary to do all the other verifications in the settings such as 'Personal details' and 'Address verification'? I ask because of reading a lot of comments on here where people seem to be against KYC, is that this? Or should I just go ahead with this verification without worry?

Also, is there any preferred way you guys deposit funds to exchanges? There seems to be two main options of credit/debit card and bank deposit (although it looks like the ID verification mentioned above needs to be done or you can't progress with either?).

Thank you everyone for your continued patience. I'm hoping my stupid questions will also be of help to other newbies too.

[gentlemand]

I've just created a Binance account, installed the app (and immediately jumped to lite mode for starters  ). I notice a lot verification prompts telling me do this, do that etc. I did the basic 2 Factor verification, but is it necessary to do all the other verifications in the settings such as 'Personal details' and 'Address verification'? I ask because of reading a lot of comments on here where people seem to be against KYC, is that this? Or should I just go ahead with this verification without worry?

Also, is there any preferred way you guys deposit funds to exchanges? There seems to be two main options of credit/debit card and bank deposit (although it looks like the ID verification mentioned above needs to be done or you can't progress with either?).

Thank you everyone for your continued patience. I'm hoping my stupid questions will also be of help to other newbies too.

If somewhere has optional KYC like Binance I always do it. It's a right pain if they freeze you and demand more info and you never know what trips them. Better to get that out the way before that happens. I certainly wouldn't do it with the more obscure places out there as you've no idea how secure their file storage is or whether they use your info themselves.

KYC is a fact of life with centralised exchanges. You can avoid it with decentralised services but their volumes are pitiful and some supposedly decentralised joints have asked for this too.

Any time cards are involved fees will be much higher, or they won't be available at all because of the risk of charge backs. Bank transfers are cheaper. And I don't think there's any such thing as depositing into an exchange account with a card, you just buy crypto directly and immediately.