So Many Exchanges out there

[tvplus006]

Don't sell your BTC for any coin pair, all you need to do is sell altcoins to continue to grow BTC...

The goal of the OP is not just to hold bitcoin, but to increase its quantity. It is for this reason that he chose the second most popular Ethereum coin, paired with which he plans to trade. Accordingly, in order to achieve his goal, he needs to choose a reliable SEC, such as Binance, kuCoin or Huobi, so as not to lose his money.

[ice18]

Binance, Kucoin, MEXC, FTX this are only some of the top exchanges I used many times and never had any problems, from deposit and withdrawals are all smooth don't waste your time trying new exchanges which is not trusted and popular only reliable one like mentioned by many comments above.  

[Tahsin Kabir Kollol]

In fact, it is a concern of every exchanger user and many have encountered such problems all the time. In this case, users should always consider the popular and trusted exchanges. There are several top-rated cryptocurrency exchanges that have the best reputation and the security system is strong and secure. Binance, Kucoin, and Coinbase are the top exchanges and you can use all these exchanges.

[Myleschetty]

This is newbie talk, so don't kill me. I want to learn, but it seems so complicated.

I want to  - sell BTC for ETH, and then sell that ETH for more BTC than I started the trade with. Sounds like a simple way to start, yet I know it won't be.

My biggest concern is that there are so many exchanges. How the heck do I know which ones will pay me after I make an exchange? I know I have to check their reserve balance, but what else should I look for?

It all depends on what you mean by what you said "which ones will pay me after I make an exchange" but I personally select an exchange base on
1) Reputation
2) How fast is their withdrawal service and cost: You can not request a withdrawal on Binance and don't want to pay a huge transaction fee which is unfair.
3) Customer support.
4) Geographical area restriction.

[milewilda]

This is newbie talk, so don't kill me. I want to learn, but it seems so complicated.

I want to  - sell BTC for ETH, and then sell that ETH for more BTC than I started the trade with. Sounds like a simple way to start, yet I know it won't be.

My biggest concern is that there are so many exchanges. How the heck do I know which ones will pay me after I make an exchange? I know I have to check their reserve balance, but what else should I look for?

If you do have plans on dealing or making fiat conversion then stick with CEX.
https://coinmarketcap.com/rankings/exchanges/

Binance is on the top which i could assure you since its one of the most famous.

If you dont like to touch up centralized platforms then you could opt in DEX.
https://coinmarketcap.com/rankings/exchanges/dex/

So its your choice to make!

[Ludmilla_rose1995]

There are hundreds of DEX or CEX exchanges currently circulating, but only a few can be trusted and have a good reputation, it's all business competition. so far I only use binance and kucoin (for CEX) and pancakeswap (for DEX).

[Serco]

You can do this by using any good exchanger. You can use Binance as the best exchanger or I will personally suggest to use FTX exchanger. The FTX Exchanger has the lowest transaction fees. You can easily do this by going from these centralized to trading options.

if we talking about lower transaction fees , maybe Woo exchanges has lower fee than FTX. as new exchange WOO network provide us good feature especially about fees in trading or withdrawl. even if we stake some amount of WOO we will get speciall feature that feeless in any services. in future it could competitors of Binance and FTX.

[GeorgeJohn]

You can do this by using any good exchanger. You can use Binance as the best exchanger or I will personally suggest to use FTX exchanger. The FTX Exchanger has the lowest transaction fees. You can easily do this by going from these centralized to trading options.

If i should recommend exchanges that is fifty (50) percent trustworthy. I will not hesitate to make mentioned of binance exchange, because it's the purest and we'll known exchange across the world everyone can recommend for any cryptocurrency exchange and speed transaction procession..so i give support of using binance as your recommendation

[Dr.Osh]

just use popular exchanges like binance, kucoin, and others, or you can have a look at CMC. other than that, avoid using new exchanges. if you've been in this for a long time, and seeing as you're already a senior member on this forum, it doesn't seem like this is anything new to you. I suspect you have been trading for a long time or at least you have. if you are still confused about choosing your main exchange, then just use binance. it is more than enough.

[Benefactor]

This has not been issue on most and top trades and not a significant issue. Have not had that issue besides on decentralized trade when I exchange trick token that could withdrawal different tokens. Not all trades are worth the effort however here and there in the event that you have altcoins that isn't recorded on top trade you must choose the option to manage it or hang tight for the second that tokens can be recorded on significant trade.

[justdimin]

Simple, just check their trading activities the more they have liquidity the more you can exchange at ease. Right now there are a lot of exchanges that use bots rather than real people, you will see the difference if an exchange that uses a bot or many real traders if you have some experience in many exchanges. The other thing is the security if an exchange provides a low security then just forget it, it's better to go to the top exchange.

There isn't really "one way" to make sure that you could see if it's bots or real traders. I mean they have improved the bots so much so that we are talking about real looking stuff that gain a lot of volume and that gives people a ton of returns.

If you really want to succeed then you need to make sure that you are looking at the trustable places that we all know. Like for example if you are trading at binance, do you really worry that they would try to trick you into thinking there is a volume there but actually do it with bots? I mean there are bots that trade, but not for volume. Binance wouldn't let it fly, they want legit stuff so they can make a profit.

[Cryptoababe]

This is newbie talk, so don't kill me. I want to learn, but it seems so complicated.

I want to  - sell BTC for ETH, and then sell that ETH for more BTC than I started the trade with. Sounds like a simple way to start, yet I know it won't be.

My biggest concern is that there are so many exchanges. How the heck do I know which ones will pay me after I make an exchange? I know I have to check their reserve balance, but what else should I look for?

Most exchanges will verified badge on twitter will surely pay you.
Just check top 5 exchanges on coingecko.com and choose your preferred one due to withdrawal fees. Although, i will recommend FTX exchange because they have lesser withdrawal fees

[el kaka22]

Picking any exchange would be hard, I will give you that much. Even if you are dealing with places like Binance or Coinbase, it could become a difficulty because they require KYC and they could still get hacked in a way that your KYC could be shared with the world.

It's not always the money that gets stolen, the hackers would steal anything they could find, even if it is just staff names type of simple stuff. This means that we need to be careful when picking them. This is why I have suggested my friend who got in recently to use p2p, then use DEX and when he wanted to get out, use p2p again. This is the best method for your own privacy to stay intact.

[TheClownSong]

Picking any exchange would be hard, I will give you that much. Even if you are dealing with places like Binance or Coinbase, it could become a difficulty because they require KYC and they could still get hacked in a way that your KYC could be shared with the world.

KYC should be serious problem for us, and why we have to worry about this policy ? isn't we want to maximize our security layer to protecting our account. and passing KYC could help to protect, maybe hackers will have trouble when withdrawing our assets but have different name on bank account and receiver. honestly i am feel comfort if asked to pass this stagge, beside for security reason my account limitation could increase.

[sklopan]

I advise you to carefully read the reviews. Usually, if the exchange has any noticeable technical or reliability problems, information about this can be found.

[DanWalker]

Picking any exchange would be hard, I will give you that much. Even if you are dealing with places like Binance or Coinbase, it could become a difficulty because they require KYC and they could still get hacked in a way that your KYC could be shared with the world.

It's not always the money that gets stolen, the hackers would steal anything they could find, even if it is just staff names type of simple stuff. This means that we need to be careful when picking them. This is why I have suggested my friend who got in recently to use p2p, then use DEX and when he wanted to get out, use p2p again. This is the best method for your own privacy to stay intact.

The exchange on DEX exchanges does not require KYC, but I think doing the steps on it is more complicated than CEX and the gas fee will also be much higher. As a newbie to the market, perhaps CEX is still a safer and easier to use option. Binance can be considered as the best and most reliable CEX exchange but if you are afraid of KYC then you can use Kucoin, they don't require KYC but if it doesn't KYC then you will be limited per transaction.

[Lexurdania]

The exchange on DEX exchanges does not require KYC, but I think doing the steps on it is more complicated than CEX and the gas fee will also be much higher. As a newbie to the market, perhaps CEX is still a safer and easier to use option. Binance can be considered as the best and most reliable CEX exchange but if you are afraid of KYC then you can use Kucoin, they don't require KYC but if it doesn't KYC then you will be limited per transaction.

except Uniswap, another decentralized exchanges have cheap transaction fee or swap. Decentralized exchanges on BSC, Solana , Cosmos or another chain could be considered as transaction place. maybe it step easy for us, only connect wallet and swap our token. Binance or other top Exchanges have most secure security layer and our fund guaranteed on there , so it should not worry anymore if using CEX.

[ethereumhunter]

To get more of what you want, you need to compare the prices of each exchange so you can see the difference. But in my opinion, almost all exchanges don't have such large margins that your focus is on which exchanges you can use to sell BTC.

If you are okay with KYC, you can just register on Binance, deposit your BTC, and sell it when the BTC price rises again. But if you don't want to go through detailed KYC, maybe you can look for an exchange that is less strict about KYC. Possibly KuCoin or Hotbit could be your choice, as I see both exchanges are not very strict regarding KYC.

[Lanatsa]

Picking any exchange would be hard, I will give you that much. Even if you are dealing with places like Binance or Coinbase, it could become a difficulty because they require KYC and they could still get hacked in a way that your KYC could be shared with the world.

It's not always the money that gets stolen, the hackers would steal anything they could find, even if it is just staff names type of simple stuff. This means that we need to be careful when picking them. This is why I have suggested my friend who got in recently to use p2p, then use DEX and when he wanted to get out, use p2p again. This is the best method for your own privacy to stay intact.

The exchange on DEX exchanges does not require KYC, but I think doing the steps on it is more complicated than CEX and the gas fee will also be much higher. As a newbie to the market, perhaps CEX is still a safer and easier to use option. Binance can be considered as the best and most reliable CEX exchange but if you are afraid of KYC then you can use Kucoin, they don't require KYC but if it doesn't KYC then you will be limited per transaction.

Not that really too technical yet there are  YT vids which you could really make it as a guide which it isnt really that hard but if you do really ask me when it comes to fees then its really something high and it would

be better if you do really deal off with centralized exchange yet it is way more faster and easy access or wont really be that too technical but somehow you would be needing to sacrifice anonymity.

Its up to someones choice whether they would be dealing with DEX or CEX, depending into their preference.

[Findingnemo]

This is newbie talk, so don't kill me. I want to learn, but it seems so complicated.

I want to  - sell BTC for ETH, and then sell that ETH for more BTC than I started the trade with. Sounds like a simple way to start, yet I know it won't be.

My biggest concern is that there are so many exchanges. How the heck do I know which ones will pay me after I make an exchange? I know I have to check their reserve balance, but what else should I look for?

No exchange is going to pay you are create coins for you they are simply a marketplace where people list their cryptocurrencies and find the buyers basically something like eBay.

There are lot of exchanges are here, for beginners Binance maybe good so all you need to do is just register there and deposit funds or cryptocurrency to start trading.