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Author Topic: best place to trade BTC  (Read 540 times)
Jakhan
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February 02, 2021, 07:56:32 AM
 #21

Easy, secure, low-cost to trade crypto. Coinbase just provide services in certain countries. Who can name some . Thank you

The best place will be no doubt Binance.
It’s one of the best place and offers a larger variety of markets of other coins.
In BTC the withdrawal fees of Binance is currently 0.0005 BTC and it varies depending on then and BTC price.

If you want some crypto to FIAT exchange then localbitcoins is highly preferable and you can also checkout Paxful.
Though both of the services requires KYC to increase your limits.

If I am not mistaken, it seems that you can withdrawal FIAT from Binance too. Or is it less profitable here than localbitcoins or Paxful? I found some info about Paxful here https://cryptototem.com/paxful-review/, but I'd love to hear from experienced users. Is it really more profitable than using big exchanges like Binance?
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February 02, 2021, 08:46:08 AM
 #22

A lot of us saying Binance but with such an emphasize on one exchange I think it's better we place the eggs in different baskets.
I'm using Binance for trading alcoins, Crypto.com, Digifinex, Kraken. If one exchange collapse at least I still got a certain portion on hand..... to place safe!
Still, you are going to lose money right? Better put the funds in a Ledger and connect them with a decentralized exchange for swapping tokens so our will be secured. Choosing multiple exchanges may cause you to reduce your actual profits because of different fee structures so you will be forced to trade more money than what you actually wanted to do.
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February 02, 2021, 09:13:35 AM
 #23

Easy, secure, low-cost to trade crypto. Coinbase just provide services in certain countries. Who can name some . Thank you

I do not understand why there are so many adoptions towards coinbase; it has high charges and it is not available for every country; you have very low trade cap or hodl cap without doing kyc verification. How then do people enjoy trading on that app ? The best platforms you can trade bitcoin is on cex exchanges such as binance, kucoin etc; you get high trading cap with level 1 verification and it is very easy to get verified too unlike coinbase. Check coinmarketcap for the top 10 exchange to trade bitcoin
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February 02, 2021, 10:45:27 AM
 #24

Easy, secure, low-cost to trade crypto. Coinbase just provide services in certain countries. Who can name some . Thank you

Since 2018, I trade and hodl most of my coins/tokens especially BTC on KuCoin.
[1] They offer low trading fees and can become even lower if you have some KuCoin Shares (KCS).
[2] KYC is not compulsory unless you'll withdraw above 5 BTC a day. But KYC is for your protection too incase you've forgot your log in credentials.
[3] Most of the top tier altcoins/DeFi can be found on KuCoin Exchange.
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February 02, 2021, 11:04:25 AM
 #25

A lot of us saying Binance but with such an emphasize on one exchange I think it's better we place the eggs in different baskets.
I'm using Binance for trading alcoins, Crypto.com, Digifinex, Kraken. If one exchange collapse at least I still got a certain portion on hand..... to place safe!
Still, you are going to lose money right? Better put the funds in a Ledger and connect them with a decentralized exchange for swapping tokens so our will be secured. Choosing multiple exchanges may cause you to reduce your actual profits because of different fee structures so you will be forced to trade more money than what you actually wanted to do.
^ Another factor of reducing fund if you are using multi-exchange is the fees, that is good if you use different exchanges but the disadvantage is the fee when you have the plan to withdraw your fund. I suggest sticking with one of the most reputable exchanges that worldwide used, and of course, an exchnage that has a secure like Binance, you are safe there.
However, back to the OP's question, the right place to trade your BTC are those local exchange in your country that supported BTC trading, but this surely required KYC and use DEX if you avoid KYC.
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February 02, 2021, 11:33:10 AM
 #26

snip~
^ Another factor of reducing fund if you are using multi-exchange is the fees, that is good if you use different exchanges but the disadvantage is the fee when you have the plan to withdraw your fund. I suggest sticking with one of the most reputable exchanges that worldwide used, and of course, an exchnage that has a secure like Binance, you are safe there.
However, back to the OP's question, the right place to trade your BTC are those local exchange in your country that supported BTC trading, but this surely required KYC and use DEX if you avoid KYC.
That is why I said it will eat your profits with fees like multiple times we have to pay withdrawal fee which is almost fixed and huge on most of the exchanges.So the user will be forced to store the funds on exchanges itself to avoid getting rekt due to the withdrawal fees.
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February 02, 2021, 04:27:18 PM
 #27

Easy, secure, low-cost to trade crypto. Coinbase just provide services in certain countries. Who can name some . Thank you

I don't trust coinbase, sorry dude I'm just telling my side only.  The only place that I trusted the most is Binance, Kucoin, Okex, Bitforex and others but not coinbase. Because, I heard so many things about it in which most of them are bad feedback on it. Where, they can freeze your account anytime they like to do it something like that.
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February 02, 2021, 04:41:42 PM
 #28

In terms of reputable exchanger then there is Binance, Shapeshift and etc. but if I were to decide then local exchangers are still good to use compare to those exchangers because if you are going to use your local exchanger then you can easily contact the support of the platform while having a wide range of cashout options to your local fiat.

That is the advantage of local exchangers that big exchangers cannot offer especially a cashout will not use a bank account because most of the local exchangers are offering a cashout for remittances where the local users can easily get their money if they don't have a bank accounts.

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February 02, 2021, 04:49:43 PM
 #29

There are 3 best exchanges: Binance, Huobi, Kucoin. They have all the criteria you need, i use Binance most often. I will choose Binance if only one option, i believe it is the best right now.
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February 02, 2021, 05:31:12 PM
 #30

There are 3 best exchanges: Binance, Huobi, Kucoin. They have all the criteria you need, i use Binance most often. I will choose Binance if only one option, i believe it is the best right now.
Okay, I tend to agree Binance is the most popular exchange by now and so far they had 4 branches AFAIK.  Due to a large number of Binance traders, it is always good to have trade with a high coin volume exchange and that is their advantage.

These are the four Branches of Binance but ain't sure the last one.
  • Binance
  • Binance.US
  • Binance DEX
  • Binance JEX

IMO, Coinbase doesn't have a good reputation lately, there are too many complaints against them because they are highly regulated by the governments.
If you will use Coinbase for Bitcoin trading, make sure you use Coinbase Pro, the exchange platform, not the Coinbase wallet platform.  The consequence is the terrible fees.
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February 02, 2021, 08:11:15 PM
 #31

Another factor of reducing fund if you are using multi-exchange is the fees, that is good if you use different exchanges but the disadvantage is the fee when you have the plan to withdraw your fund. I suggest sticking with one of the most reputable exchanges that worldwide used, and of course, an exchnage that has a secure like Binance, you are safe there.
However, back to the OP's question, the right place to trade your BTC are those local exchange in your country that supported BTC trading, but this surely required KYC and use DEX if you avoid KYC.
Fee situation is one of the biggest problems in the crypto world, specially for people who work to earn bitcoin or any other high fee coin as well. I have USDT in my metamask for example, and it is only 20 bucks and I earned only that much, however when I want to withdraw that to my local exchange to turn it into my own fiat and cash that back to my bank, do you know how much is left? Only 7 dollars.

Firstly about 7-8 dollars is taken from me when I move my money from metamask to my local exchange, then I turn that into fiat in my local exchange and that is another 1.5 dollars, and after that I take it to my bank account which is another few dollars and eventually there is tax on it basically leaves me with just 7 dollars in the end. I am not saying go pick a lot of exchanges but honestly this is much better if we could simply just find a way to get rid of fee's and do it afterwards.

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February 02, 2021, 09:56:35 PM
 #32

From my opinion and from my experience the best exchange for trading bitcoin is binanc and kucoin due to lots of reasons. Binance is very easy to use, easy to trade and binance is very secure your funds are very save there I don't think you can lose your money there and also easy withdrawal fee. Thesame think with kucoin you can easily withdraw your money to your local bank directly with stress.

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February 02, 2021, 11:24:29 PM
 #33

Easy, secure, low-cost to trade crypto. Coinbase just provide services in certain countries. Who can name some . Thank you
I choose Binance, you prepared Coinbase. As long as it is working and we are comfortable using their services, that is not a problem, we have different insights and experiences which is a big factor is choosing exchanger. Because as a trader, we mostly consider the fees and trading volume that makes Binance known to traders and they actually have a lot of users by now.
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February 02, 2021, 11:43:26 PM
 #34

Now there are many good Bitcoin trading places, you can search on google and find some popular exchanges that you can try to use for
Bitcoin trading. I myself often trade on local exchanges, because I often trade using fiat pairs in my country. In order for the profit I make
from trading, I can immediately cashout it to my bank account. If your country does not have local exchanges for Bitcoin trading,
you can use Binance exchange which is now the most used by Bitcoin traders.

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February 03, 2021, 06:57:32 AM
 #35

There are 3 best exchanges: Binance, Huobi, Kucoin. They have all the criteria you need, i use Binance most often. I will choose Binance if only one option, i believe it is the best right now.
There is a difference between "Best" and "Top" - what you said are the top three exchanges, they are defenitely not the best. This is because what is good for you depends on your personal preference and ease of use. A couple of parameters do not define good or bad. What might work out for your in those exchanges might be difficult for another user. OP has problems with Coinbase, so probably they are not from US - which means they will face problems with other CEXs.

Depending on the OP's local currency exchange system and government regulation they might have a tough time going through a KYC for a centralized exchange like these. Hence they would need to check each of them out before using them. A DEX might seem like a better option but that too comes with its inherent risks which are not something that can be ignored. We have seen full DEXes vanishing into thin air, only increasing the negativity around them in general.

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February 03, 2021, 02:37:17 PM
 #36

Binance.

If you trade with cryptocurrency then i think binance is best. And if you want to trade with your local currency,  You have to use local exchange in your country.
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February 03, 2021, 03:25:29 PM
 #37

As other people say, I choose Binance to trade. But to find the best place to trade, you need to search for yourself and not just follow other people say because you need to feel comfortable while you trade. If you can feel comfortable and satisfy with one or two exchanges, then you can call that exchanges are the best exchanges for you. As many people say Binance as the best place to trade, they can feel comfortable trading on that exchange because they do not have a problem while trading on Binance.

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JooBra
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February 03, 2021, 03:37:08 PM
 #38

A lot of us saying Binance but with such an emphasize on one exchange I think it's better we place the eggs in different baskets.
I'm using Binance for trading alcoins, Crypto.com, Digifinex, Kraken. If one exchange collapse at least I still got a certain portion on hand..... to place safe!
Still, you are going to lose money right? Better put the funds in a Ledger and connect them with a decentralized exchange for swapping tokens so our will be secured. Choosing multiple exchanges may cause you to reduce your actual profits because of different fee structures so you will be forced to trade more money than what you actually wanted to do.
The question is not so easy to answer but I must stay at Binance side since Binance had so many problems in the past and they always got it fixed. Now their fees are a bit higher but for me personally it's a good trade since I'm sure in my funds there.
giammangiato
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February 03, 2021, 04:30:06 PM
 #39

Easy, secure, low-cost to trade crypto. Coinbase just provide services in certain countries. Who can name some . Thank you

The best place for trade BTC in my point of view is Coinbase Pro. You can also withdraw on your paypal the fiat after the trading
Coinbase Pro > Coinbase > Paypal = 0 fees
Another good exchange is Binance, you have more pairs and evaluate also different stable coins if you don't want convert in fiat your gains!

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e@symode
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February 03, 2021, 05:26:07 PM
 #40

Easy, secure, low-cost to trade crypto. Coinbase just provide services in certain countries. Who can name some . Thank you

The best place for trade BTC in my point of view is Coinbase Pro. You can also withdraw on your paypal the fiat after the trading
Coinbase Pro > Coinbase > Paypal = 0 fees
Another good exchange is Binance, you have more pairs and evaluate also different stable coins if you don't want convert in fiat your gains!

I fully support your opinion on CoinBase Pro and Binance. I have never had a problem with these exchanges. But I had problems with the HotBit exchange. There were big problems with the withdrawal. I do not advise anyone to use this exchange.
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