How many exchange accounts do you need to daytrade?

[Jawhead999]

If the project is fairly new, you can ask the developer on their social media. If the project isn't really new and has been listed on CMC or Coingecko, check it and click market button to see which exchanges had a volume of that's coin you're looking for.

I don't think if we want to daytrade we need so many exchange accounts to do it, you can use 1-2 only and it's enough. Using many accounts just make you headache to handle it and you might hold the coins on the exchanges, which is not good for safety.

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[palle11]

It doesn't end in having so many accounts, one important factor is, you having enough funds to fund all them accounts on a single or several exchanges. Another question  one has got to concern him or herself with is that; of what use is it having several accounts with regards to trading. Are there a limit to how much or how many trades one can put out in the market or is the trading limited to only a certain number of coins?

It virtually doesn't make sense and it's rather safe to have or trade on a single or perhaps 2 exchanges as it in a way, diversifies your portfolio and keeps you off risk or ha less, scammers and over trading.

I think I also follow this line of reasoning. I don't see the need to have plenty of account especially if it is not easy to open them like OP is asking. It is by choice to trade in any exchange, if the exchange come with rules too high to comply to you check the next exchange and if one exchange don't have the coin you want to trade, you make choice for another coin, instead of so much worry about certain things. Trading should be enjoyed and should be in a conducive exchange.

[SirLancelot]

New coins that are good enough will have more chance to get listed in the good exchanges that you mentioned above but for shitcoins, they are less likely. The only shitcoins that I know that have been successfully listed in coinbase are shib and doge. These two coins along with other varieties are however available in binance.

If you are more into defi and shitcoins, all you need are a decentralized exchange like pancake swap because there are no limitation with them but that makes them more risky than a centralized exchange. The number of exchanges to have might depend on what kind of trader you are. Arbitrage trader might need more but normal trader can only need one to two.

[touseefahmad1999]

I really High recommend you use binance exchange for day trade it very user friendly alot of new crypto currency are traded there with high volume with low risk. Alot of tokens where you can choose and use for day trade. Choose one or two exchange not many exchange required. For trading. It's very easy to use and understand

[el kaka22]

If the project is fairly new, you can ask the developer on their social media. If the project isn't really new and has been listed on CMC or Coingecko, check it and click market button to see which exchanges had a volume of that's coin you're looking for.

I don't think if we want to daytrade we need so many exchange accounts to do it, you can use 1-2 only and it's enough. Using many accounts just make you headache to handle it and you might hold the coins on the exchanges, which is not good for safety.

I wouldn't really consider new projects that are barely getting listed anywhere as a thing to do daytrading. That doesn't really make any sense at all. I would guess that there is a good reason for many people to trade on btc-usdt pair, that makes a lot more sense.

I know that it is the highest volume but also it is easier to do day trading as well. First of all it is on all exchanges, that is literally the first thing that exchanges add, before anything else. After that there is also the fact that we are talking about liquidity, meaning you could do any type of trading daily on it if you want to. You don't have to do btc-usdt but you could do something high like that.

[rahmad2nd]

Checking on my authy application almost all exchange have listed authicator and I think use all exchange market, exactly active on bounty campaign last several year make me need to prepare all exchange market but now just left few exchange only as global. right now have Binance as my personal exchange market, then some time use Kucoin but usually active right now with pancake exchange market. There are many shit coin listing on Pancke and I try lucky there how to earn profit with shit coin.

[kawetsriyanto]

If it is for a day trade, I will better only choose 1-2 exchanges for some top coins.
I use Binance and also one of the local exchanges in my country.
It is very enough because day trading needs more focus. Many more exchanges will divide our focus and we just need to spend more time.

However, if I am going to trade the new coins, I won't trade them daily. Many people may also be concerned to have day trade in some new coins. But I am personally not doing that. I only will use another exchange if possible if I really need to trade the new coin, moreover when I really want to trade them.
I am not a kind of high risk taker, so, better to trade based on top coins

[pawanjain]

You will need a well established and full fledged exchange if you want to day trade particular coins.
If those coins are not in your region then you will have to use VPNs to get access to those exchanges but since most of them now use KYC your options are very limited.
You can use a P2P exchange/decentralized exchange and day trade the coin.
But again, the best option is to get the KYC done on an exchange which works for your region.

[jerry0]

Look at the biggest gainers in the last day.  Shiba tron and Baby Squid Game.  If you only use coinbase, you cannot buy these coins.


I see both of these are available on pancakeswap.  Anyone can use that without restriction right?

[Peanutswar]

Checking on my authy application almost all exchange have listed authicator and I think use all exchange market, exactly active on bounty campaign last several year make me need to prepare all exchange market but now just left few exchange only as global. right now have Binance as my personal exchange market, then some time use Kucoin but usually active right now with pancake exchange market. There are many shit coin listing on Pancke and I try lucky there how to earn profit with shit coin.

Having a different exchange is ideal too depending on the purpose if OP does not want to have KYC I guess the most ideal is Kucoin, and of course, the trusted exchange platform such as coin base, binance, MEXC and crypto.com have different exchanges have perks too like if the transaction of the other platform, for example, eth network, sol network, or matic network has an error to them or upgrade the other platform is open to still commit a transaction.

[Ryker1]

Look at the biggest gainers in the last day.  Shiba tron and Baby Squid Game.  If you only use coinbase, you cannot buy these coins.


I see both of these are available on pancakeswap.  Anyone can use that without restriction right?

Well you can see it here ^{[ https://coinmarketcap.com/gainers-losers/ ]}.
All these shitcoins have been hyped too much right now and I don't think if you chase profit on it perhaps the risk was still there. Most shitcoins are on Pancakeswap and Uniswap exchange. Meme coins now gain too much hype you should still be careful upon making a decision if you have a plan to invest.
However, if you avoid restrictions DEXs are good for you. ^{[ https://coinmarketcap.com/rankings/exchanges/dex/ ]}

[Rehan Zakir]

It's a very unique question.
I think you need minimum one  exchange account to trade on it. There is no need to make many accounts. And it's very difficult to manage all accounts. So, I prefer you make account on binance l, Coinbase, ftx exchange etc. These are all top exchanges of the world. You can choose anyone of exchange and start your trading journey with it.  These are all good platforms for you as a trader.  Day trading is not so easy. We have to learn different indicators for judging graphs.

[jerry0]

Well of course you need at least once exchange account to trade... then how could you even trade?  Now if you only had coinbase, you basically can't even trade much altcoins right?  Or imagine like bitstamp where they even give you lesser coins to trade.


Now if you have coinbase and binance, then thats more than enough because you basically have access to most coins right?  But not coins from pancakeswap/uniswap with those meme coins like shiba tron etc?


Put it this way.  If you only could use a few exchanges, which would be your must have?  I feel like you need one to cashout via fiat... like coinbase and one for altcoins like binance. 

[kentrolla]

I am content with my Binance account for most part of my day trading as we can find most of my preferred coins in Binance and volume is a big plus for us, but i do have account in Huobi, Gate.io and Kucoin since you will find almost every coins with these three exchanges. But it's bit difficult to manage multiple accounts. I have account with all the major exchanges but 70% i will use Binance and remaining 25% i would use the three exchanges i have mentioned and rarely other exchanges like coinbase, FTX and sometimes DEX.

[so98nn]

You only do day trading on an exchange where you can freely trade without any restrictions, so if you want to buy other token that is not available on your trusted site then you have no choice but to open an account to other exchange or use DEX, this will always depend on you and depends if the new tokens are worth buying.

Day trading is not easy especially if you use many exchanges, I'd rather focus on one exchange and do my work there.

Exactly. I don’t know why OP is stressing on multiple exchangers to day trade? Day trade is nothing like you buy on one exchanger and then sell it on the other exchanger. It’s completely wrong order of trading. Day trading is product of your intense timing, research on the project, and technical analysis.

You don’t simply need more than one exchanger to this. It’s just that in day trading you have to be very quick while making the trade. Things are wild volatile here so rest is the story.

[JooBra]

You only do day trading on an exchange where you can freely trade without any restrictions, so if you want to buy other token that is not available on your trusted site then you have no choice but to open an account to other exchange or use DEX, this will always depend on you and depends if the new tokens are worth buying.

Day trading is not easy especially if you use many exchanges, I'd rather focus on one exchange and do my work there.

Exactly. I don’t know why OP is stressing on multiple exchangers to day trade? Day trade is nothing like you buy on one exchanger and then sell it on the other exchanger. It’s completely wrong order of trading. Day trading is product of your intense timing, research on the project, and technical analysis.

You don’t simply need more than one exchanger to this. It’s just that in day trading you have to be very quick while making the trade. Things are wild volatile here so rest is the story.

Keeping it simple as possible is a way to be good trader. Being on exchange you trust and doing your thing is good enough.

[DoublerHunter]

~snip~
But it's bit difficult to manage multiple accounts. I have account with all the major exchanges but 70% i will use Binance and remaining 25% i would use the three exchanges i have mentioned and rarely other exchanges like coinbase, FTX and sometimes DEX.

^ This is true and you are definitely right, it is hard to manage multiple accounts on an exchange and of course, it required fees in every exchange that you have used. I think focusing on one exchange makes you better if you are a day trader but of course, use the exchange that supported a huge altcoin and only Binance had this qualification. This is also to cover your fees when you are in one exchange, the more exchange you have the more fees that you are going to pay.

[lalabotax]

Actually, I am not a day trade. I am short term and this is in spot exchanges. I only use 2 two exchanges. Sometimes, only visit other small exchanges when I only have certain tokens listed there and then convert them to certain coins in order to available to send to my common exchanges.
I think that If I become a day trade, I also cannot do trading in several exchanges. 2 exchanges are enough to maiximize my focus

[CryptopreneurBrainboss]

But what about people that want to trade those new coins whether its a memecoin or not and its not in coinbase yet?  How do people handle this?  I remember how back then people wanted to buy dogecoin... only to find out... hey coinbase doesn't have it etc. 

You can only trade a coin you have access to so if you want to trade a particular coin but don't have access to it then move on to other coins. They are so many out there that you shouldn't kill yourself over not been able to trade a particular one. The altcoin market is full of so many opportunities that money can be made from basically trading any project not minding if it won't be around for a long time. You can basically trade the hype of certain projects and come out successful.

Engaging in this style of trading should be approach with caution though as the nature of the altcoins market can kill any project from the radar and leaves you in losses, also engaging in this style of trading means you're exposing your funds to risks such as rug pull etc.

[nhaila]

Give me list of all decentralized exchanges.


I assume they are


pancakeswap

uniswap

I actually use different exchange for my trading platform but specially top ranked exchanges Binance, Kucoin and gateio Centra exchange and pancakeswap for Binance Smart chain and quickswap for polygon platform as my day trading platform.