Crypto Exchange Recommendation

reignschaos · 07-04-2020 9:34pm #1

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

Lex Luthor · 07-04-2020 11:46pm

reignschaos wrote: »

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

Daithi40 · 08-04-2020 12:06am

I use Kraken mostly, described well above.

reignschaos · 09-04-2020 1:58pm

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

karltimber · 24-04-2020 9:53am

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

Lex Luthor · 24-04-2020 10:04am

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

karltimber · 25-04-2020 8:54am

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

Lex Luthor · 25-04-2020 9:29am

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

PHG · 27-04-2020 12:55pm

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??

Lex Luthor · 27-04-2020 3:39pm

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

PHG · 27-04-2020 4:12pm

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!

Lex Luthor · 28-04-2020 11:48am

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

Daithi40 · 28-04-2020 12:09pm

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

GooglePlus · 28-04-2020 12:20pm

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

Lex Luthor · 28-04-2020 1:42pm

coinbase havent listed the coin I'm interested in

I've set myself up on bittrex

roosh · 28-04-2020 8:39pm

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.

sgealbhain · 29-04-2020 9:30am

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.

Lex Luthor · 29-04-2020 9:49am

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

grindle · 04-05-2020 12:02pm

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

Lex Luthor · 04-05-2020 7:46pm

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

Lex Luthor · 07-05-2020 7:25am

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

aido79 · 07-05-2020 12:11pm

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.

makeorbrake · 07-05-2020 7:35pm

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.

aido79 · 07-05-2020 11:09pm

makeorbrake wrote: »

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?

makeorbrake · 07-05-2020 11:12pm

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).

aido79 · 08-05-2020 10:12am

makeorbrake wrote: »

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?

makeorbrake · 08-05-2020 12:56pm

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).

aido79 · 08-05-2020 1:10pm

makeorbrake wrote: »

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?

makeorbrake · 08-05-2020 1:21pm

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.

aido79 · 08-05-2020 3:56pm

makeorbrake wrote: »

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).

Stewball · 18-05-2020 1:48pm

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

Elessar · 18-05-2020 5:25pm

I use Coinmetro exclusively now. EU exchange, very low fees and they pay makers. Fully regulated, EUR SEPA and credit card onramps and they've got solid management, great support, good products and a serious product pipeline.

They've a copy trading product called TraM (trade mirror) where you can allocate funds that will mimic the trades of a decent trader. Some decent gains to be had currently.

They're about to kick off a major marketing campaign so you'll be seeing more of these guys. Worth a look imo.

www.coinmetro.com

(Not a reflink I'm just a happy customer)

JJJJNR · 18-05-2020 8:39pm

Been using stellar x for over a year now, zero fees, you keep the keys to the wallet.

JJJJNR · 19-05-2020 9:29pm

https://decrypt.co/29389/hackers-find-18-million-jackpot-on-two-crypto-exchanges

Lex Luthor · 19-05-2020 9:32pm

JJJJNR wrote: »

https://decrypt.co/29389/hackers-find-18-million-jackpot-on-two-crypto-exchanges

i'm still amazed at how many people still think leaving their crypto on an exchange is safe

My sons have about €200 ea in cryto and is on an offline wallet

roosh · 20-05-2020 12:10am

Lex Luthor wrote: »

i'm still amazed at how many people still think leaving their crypto on an exchange is safe

My sons have about €200 ea in cryto and is on an offline wallet

If you're not trading then it certainly doesn't appear to make any sense. Some exchanges have tightened their security measures following hacks, but still, if you're intention is to HODL then offline is definitely the way to go.

I lost a lot of coins in the Cryptopia hack for that reason.

Lex Luthor · 20-05-2020 2:34pm

roosh wrote: »

I lost a lot of coins in the Cryptopia hack for that reason.

sorry to hear that

roosh · 20-05-2020 2:43pm

Lex Luthor wrote: »

sorry to hear that

Thank you. It's OK though, it wasn't as much as I lost when I was first starting to try my hand at trading :pac:

da_miser · 08-06-2020 3:57pm

Bitstamp as a fiat gateway
then transfer onto one of the following
Kucoin
Huobi
Binance
i have zero issues with this

roosh · 08-06-2020 5:37pm

da_miser wrote: »

Bitstamp as a fiat gateway
then transfer onto one of the following
Kucoin
Huobi
Binance
i have zero issues with this

Does Bitstamp allow you to transfer money from your bank account to the exchange? If so, is there a limit on how much you must transfer?

makeorbrake · 08-06-2020 6:29pm

roosh wrote: »

Does Bitstamp allow you to transfer money from your bank account to the exchange? If so, is there a limit on how much you must transfer?

Yes. Minimum deposit of €7.50, minimum withdrawal of €50.

Lex Luthor · 08-06-2020 7:30pm

Kraken allows fiat deposits and this is my go to exchange for that

I use that or my nano to move BTC or ETH into Binance

PHG · 09-06-2020 9:42am

On the wallet part, at what value of crypto is it worth it?

For example, I am with Kraken and have about 1000EUR worth of crypto. From a quick google a decent wallet can cost over 100 EUR (referencing the Ledger nano X wallet).

So if you buy the wallet you are already down over 10% with the TC associated with buying the ledger. Then say for example you have a fire in your house or robbed at home, you are screwed there too no?

I have very little knowledge of hacks and how it works, hence the question. I forget my phone or keys every day, so worried about holding it all in a type of USB stick

makeorbrake · 09-06-2020 4:26pm

PHG wrote: »

On the wallet part, at what value of crypto is it worth it?

For example, I am with Kraken and have about 1000EUR worth of crypto. From a quick google a decent wallet can cost over 100 EUR (referencing the Ledger nano X wallet).

You can get a Ledger Nano S for €50. If that is too much of an outlay, you will need to spend the time in understanding how to store your keys on regular USB sticks.

Lex Luthor · 09-06-2020 8:23pm

There are online wallets like Trust where you keep your own keys and it’s free

These are what are called "Hot" wallets and are not as safe as cold storage wallets

makeorbrake · 17-06-2020 5:56am

Here's a useful comparison of Coinbase PRO and Kraken.

LINK

Bhalan · 06-12-2022 10:33am

Developing a coded platform for trading cryptocurrencies and other digital assets in Privately held websites known as cryptocurrency exchanges development. The help of Crypto Exchange makes it possible to trade cryptocurrencies for other crypto assets, such as digital currencies.

Crypto Exchange Recommendation

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