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Crypto Exchange Recommendation

  • 07-04-2020 8:34pm
    #1
    Registered Users Posts: 91 ✭✭ reignschaos


    Hi,

    Up until now I have been using revolut for dipping into crypto. I have tried to sign up to Coinbase but for some reason it is not verifying my address and I can not log into my account to get help etc without the system telling me to upload another address document.

    What other exchange would you recommend for a newbie with exchanges?

    Thanks
    Tagged:


«1

Comments

  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    Hi,

    Up until now I have been using revolut for dipping into crypto. I have tried to sign up to Coinbase but for some reason it is not verifying my address and I can not log into my account to get help etc without the system telling me to upload another address document.

    What other exchange would you recommend for a newbie with exchanges?

    Thanks

    Hi there, I use kraken. Very easy to setup, deposit money and make transactions

    I wouldn’t continue with Revolut as your crypto is “stuck” there until you sell it

    Once you purchase your crypto, then look to store it offline on a cold storage wallet like a Ledger nano

    I’ve also got a binance account for some crypto I couldn’t get on kraken but kraken should serve you well for most of the top listed ones


  • Registered Users Posts: 169 ✭✭ Daithi40


    I use Kraken mostly, described well above.


  • Registered Users Posts: 91 ✭✭ reignschaos


    Thanks @Daithi40 and @Lex Luthor. Thanks for the cold storage heads up, my Ledger is already in bound :-)


  • Moderators, Home & Garden Moderators Posts: 1,916 Mod ✭✭✭✭ karltimber


    Hi,

    Have just signed up to kraken, so i can have better access to Eur pairs.

    Question around the app - I go into my settings on my pc - generate my api keys - and scan the qr code on my phone.
    Now have access to my account thru the app. but while I'm at the pc !!!

    but away from the pc - how do I access the app ? how do I get the api keys or how do I extent the app accessibility ?

    Plus a brief explanation of "take profit" - I under stand stop loss' but whats take-profit ?

    Thx


  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    karltimber wrote: »
    Hi,

    Have just signed up to kraken, so i can have better access to Eur pairs.

    Question around the app - I go into my settings on my pc - generate my api keys - and scan the qr code on my phone.
    Now have access to my account thru the app. but while I'm at the pc !!!

    but away from the pc - how do I access the app ? how do I get the api keys or how do I extent the app accessibility ?

    Plus a brief explanation of "take profit" - I under stand stop loss' but whats take-profit ?

    Thx

    I dont have any issue accessing the app away from the phone, strange

    Its been a while since I set it up but it seemed straight forward. Thats the whole idea of the app, its remote access

    Take profit generally means if you are in a trade or investment, you should take profits on the way up rather than try to pick the top

    If you have an exit strategy, then try to stick to it and you shouldnt have any regrets


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  • Moderators, Home & Garden Moderators Posts: 1,916 Mod ✭✭✭✭ karltimber


    Solved.
    I was signing out of the app. shouldn't have.

    I can kill the app. but when I restart it - it looks for my phone password -and then gets me into the app.

    That api key I have in my account- do I need to copy/print that? - as it's just for the app and always available in my account.

    Sorted. Thanks


  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    karltimber wrote: »
    Solved.
    I was signing out of the app. shouldn't have.

    I can kill the app. but when I restart it - it looks for my phone password -and then gets me into the app.

    That api key I have in my account- do I need to copy/print that? - as it's just for the app and always available in my account.

    Sorted. Thanks

    dont think you need to copy it

    as you said, dont sign out, just swipe it closed and should be ok next time


  • Registered Users Posts: 475 ✭✭ PHG


    Do websites like Kraken guarantee your coins if it gets hacked?

    How long does a transaction take. E.g. you buy €1000 of a coin, how long for confirmation??


  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    PHG wrote: »
    Do websites like Kraken guarantee your coins if it gets hacked?

    How long does a transaction take. E.g. you buy €1000 of a coin, how long for confirmation??

    Kraken claim to have the best security, or one of the best however I still wouldnt trust my crypto on any exchange

    Confirmation of a transaction is instant if you do a market purchase and its then in your portfolio

    If you do a limit order it will get filled when the price hits that value but its also then instant


  • Registered Users Posts: 475 ✭✭ PHG


    Lex Luthor wrote: »
    Kraken claim to have the best security, or one of the best however I still wouldnt trust my crypto on any exchange

    Confirmation of a transaction is instant if you do a market purchase and its then in your portfolio

    If you do a limit order it will get filled when the price hits that value but its also then instant


    Thanks for that!


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  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    sorry to jump on your thread, but looking to get into a certain crypto and would like to know if anyone has used the following exchanges and recommendations
    Not even sure if some are possible living in Ireland

    Bittrex
    KuCoin
    Nova
    Poloniex
    HitBTC
    Shapeshift

    I've heard of Bittrex & KuCoin


  • Registered Users Posts: 169 ✭✭ Daithi40


    Lex Luthor wrote: »
    sorry to jump on your thread, but looking to get into a certain crypto and would like to know if anyone has used the following exchanges and recommendations
    Not even sure if some are possible living in Ireland

    Bittrex
    KuCoin
    Nova
    Poloniex
    HitBTC
    Shapeshift

    I've heard of Bittrex & KuCoin

    Nope, sorry haven't used any of those - Kraken (pretty much all), Coinbase and Binance

    On the Coinmarketcap site, you can search for your coin and see which exchanges it is most traded on - usually a pretty good indicator


  • Registered Users Posts: 1,993 ✭✭✭ GooglePlus


    I didn't see coinbase mentioned here once, I'm starting to think I shouldn't be using it?


  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    coinbase havent listed the coin I'm interested in

    I've set myself up on bittrex


  • Registered Users Posts: 2,551 ✭✭✭ roosh


    Lex Luthor wrote: »
    sorry to jump on your thread, but looking to get into a certain crypto and would like to know if anyone has used the following exchanges and recommendations
    Not even sure if some are possible living in Ireland

    Bittrex
    KuCoin
    Nova
    Poloniex
    HitBTC
    Shapeshift

    I've heard of Bittrex & KuCoin
    I've registered with Bittrex, KuCoin, Poloniex, and HitBTC but I don't think I've traded on any of them. I set them up a few years ago.

    I've used Bitfinex, Binance, and BitMex for trading.

    Bitfinex is the one I'm currently using.


  • Registered Users Posts: 44 sgealbhain


    Binance is one of the best. Going forward, look for decentralised exchanges (Exchanges that sit on blockchains themselves). Blockfolio is great for managing your portfolio across all exchanges. It allows you to pull real time holdings across a range of different exchanges via their API integration giving you an overall picture of holdings.


  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    thanks for the feedback

    Setup the Bittrex account yesterday, was really easy
    Little bit tricky to understand first how to trade the ETH i sent over for DGB, but figured it out eventually
    The process was very smooth from transferring from Ledger to Bittrex and back again. Speeds were about 3-4 min each

    I have a Binance account but they dont list DGB, greedy gits

    Happy now with having 3 exchanges signed up for just as back ups if any others go down

    On another note on Binance, speculation has that it might be going to run on the XRP Ledger


  • Registered Users Posts: 6,026 ✭✭✭ grindle


    Maybe I'm out of the loop. They have their own (pointless) chain, why would they involve XRP?


  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    grindle wrote: »
    Maybe I'm out of the loop. They have their own (pointless) chain, why would they involve XRP?

    I can only think for the speed, no idea really, just seen it somewhere and cant remember the source now, but it was speculation


  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    I recently setup an Uphold Wallet as I'm using the brave browser

    Started playing around with it and its easy enough to navigate. You can use it for gold/silver/etc
    Fees are a bit higher than the likes of Kraken, but as I am getting free BAT sent to it monthly, its there anyway and its another option for cashing out if needed if other exchanges go down


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  • Moderators, Regional Abroad Moderators Posts: 5,364 Mod ✭✭✭✭ aido79


    I have an Australian crypto account with coinspot. I'm going to invest some more money in cryptocurrency soon. Are there any advantages to putting the money in an Australian crypto account over setting a new one up in Ireland? I'm living in Ireland by the way.


  • Registered Users Posts: 4,655 ✭✭✭ makeorbrake


    aido79 wrote: »
    I have an Australian crypto account with coinspot. I'm going to invest some more money in cryptocurrency soon. Are there any advantages to putting the money in an Australian crypto account over setting a new one up in Ireland? I'm living in Ireland by the way.

    I wouldn't have thought so. Can you put money in it from here easily? Do they support euro/sepa transfer? (or you could fund it via $ held in Oz)?

    It all goes down to reliability of the exchange and the commissions they charge.


  • Moderators, Regional Abroad Moderators Posts: 5,364 Mod ✭✭✭✭ aido79


    I wouldn't have thought so. Can you put money in it from here easily? Do they support euro/sepa transfer? (or you could fund it via $ held in Oz)?

    It all goes down to reliability of the exchange and the commissions they charge.

    The money is already in Australia so probably best to keep it there.

    Here is their fee structure
    https://www.coinspot.com.au/fees

    How does it compare to other exchanges in Ireland?


  • Registered Users Posts: 4,655 ✭✭✭ makeorbrake


    aido79 wrote: »
    The money is already in Australia so probably best to keep it there.

    Here is their fee structure
    https://www.coinspot.com.au/fees

    How does it compare to other exchanges in Ireland?
    That's quite expensive. Here are binance's fees.
    Maybe you can open a binance account in Oz (and avoid having to bring the cash back to ireland first before using some of it from crypto...the fx loss).


  • Moderators, Regional Abroad Moderators Posts: 5,364 Mod ✭✭✭✭ aido79


    That's quite expensive. Here are binance's fees.
    Maybe you can open a binance account in Oz (and avoid having to bring the cash back to ireland first before using some of it from crypto...the fx loss).

    Looks better but I would have to have to use an Australian address for verification which I can't do as I'm not living there. Might be better in the long run to set it up using an Irish address and transfer the money into euro?


  • Registered Users Posts: 4,655 ✭✭✭ makeorbrake


    aido79 wrote: »
    Looks better but I would have to have to use an Australian address for verification which I can't do as I'm not living there. Might be better in the long run to set it up using an Irish address and transfer the money into euro?

    Maybe you have a friend who can give you euro in return for aud? It's just that you get hit 2x by going AUD->EUR->BTC (or you have to pay the 1% to Coinspot).


  • Moderators, Regional Abroad Moderators Posts: 5,364 Mod ✭✭✭✭ aido79


    Maybe you have a friend who can give you euro in return for aud? It's just that you get hit 2x by going AUD->EUR->BTC (or you have to pay the 1% to Coinspot).

    I'd actually lose very little in transferring the money to euro as I use currencyfair so not really worried about that part.
    It looks like binance doesn't accept bank transfers. Is that correct?


  • Registered Users Posts: 4,655 ✭✭✭ makeorbrake


    aido79 wrote: »
    It looks like binance doesn't accept bank transfers. Is that correct?
    I'm not in Ireland so not looking to add euros but my understanding is that you can.


  • Moderators, Regional Abroad Moderators Posts: 5,364 Mod ✭✭✭✭ aido79


    I'm not in Ireland so not looking to add euros but my understanding is that you can.

    I've had a look. It's possible but not that straight forward unless you have a credit card( which I don't at the minute).


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  • Registered Users Posts: 538 ✭✭✭ Stewball


    Anyone have issues with transferring money from an N26 account to Kraken?


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