Do you trade bitcoin on a cryptocurrency exchange platform? If so which one?

[+Seetheworldsecond Subscriber¹]

I decided to write a guide after jumping from multiple bitcoin trading platforms until I found the best one for me. I started buying bitcoin at $900.00 in late 2016 and traded for the first time last year. I recommend Binance.com as the best cryptocurrency exchange platform. Link to my blog for additional insight into some of these cryptocurrency exchange platforms can be found at http://howtobuybitcoins.guide/best-cryptocurrency-exchange/

 

I added many tips and advise from my own experience. Enjoy my fellow neowins. I am excited to learn what people here are using.

[+InsaneNutter MVC]

Interesting read! I don't trade, however I have purchased various different amounts of certain Crypto Currencies with the view of holding on to them for the long term.

 

I find in the UK the options are limited for initially converting FIAT to any sort of Crypto Currency. Most of the major exchanges that allow you to buy in with FIAT seem to operate in Euros or USD, UK banks are not very crypto friendly it seems.

 

I started out buying directly from https://bittylicious.com/ as you can purchase Cyrpto Currency by simply making a bank transfer to someone else in the UK who is selling Crypto, with Bittylicious holding it in escrow until both parties confirm the payment has been made / received. I generally find you can have your purchased Altcoins within minutes of making a payment via bank transfer. Although you pay a little over the market value I found it didn't really matter as you easily make that back when the Altcoins purchased gradually increased in value.

 

For anything I couldn't get on Bittylicious such as Ark and Ripple I'd purchase Bitcoin or Ethereum, then transfer it to Binance and trade it for the Crypto Currency i desired, before withdrawing it from the exchange.

 

Do you find it's worth your while trading? I think that would be too stressful for me as i'd be always worrying when to buy something and when to sell it for something else. If i'm thinking of buying in to something I will watch the market and try buy in at the right time, but after that i'm not thinking of selling it. My plan is to hold for a few years and see what happens.

[+BudMan MVC]

your poll doesn't allow for multiple.. Not all exchanges allow the same coins or exchange methods.. Have used binance and gdax and bitstamp, etc.

[+Seetheworldsecond Subscriber¹]

On 1/5/2018 at 2:50 AM, BudMan said:

your poll doesn't allow for multiple.. Not all exchanges allow the same coins or exchange methods.. Have used binance and gdax and bitstamp, etc.

Please choose your favorite bitcoin exchange platform. Which one provides you with the best experience?

On 1/4/2018 at 3:30 PM, InsaneNutter said:

Interesting read! I don't trade, however I have purchased various different amounts of certain Crypto Currencies with the view of holding on to them for the long term.

 

I find in the UK the options are limited for initially converting FIAT to any sort of Crypto Currency. Most of the major exchanges that allow you to buy in with FIAT seem to operate in Euros or USD, UK banks are not very crypto friendly it seems.

 

I started out buying directly from https://bittylicious.com/ as you can purchase Cyrpto Currency by simply making a bank transfer to someone else in the UK who is selling Crypto, with Bittylicious holding it in escrow until both parties confirm the payment has been made / received. I generally find you can have your purchased Altcoins within minutes of making a payment via bank transfer. Although you pay a little over the market value I found it didn't really matter as you easily make that back when the Altcoins purchased gradually increased in value.

 

For anything I couldn't get on Bittylicious such as Ark and Ripple I'd purchase Bitcoin or Ethereum, then transfer it to Binance and trade it for the Crypto Currency i desired, before withdrawing it from the exchange.

 

Do you find it's worth your while trading? I think that would be too stressful for me as i'd be always worrying when to buy something and when to sell it for something else. If i'm thinking of buying in to something I will watch the market and try buy in at the right time, but after that i'm not thinking of selling it. My plan is to hold for a few years and see what happens.

I am glad you enjoyed your read. I absolutely do find it beneficial to trade, if you can do it with patience. Preventive loss measures can be implemented on a cryptocurrency exchange and this is my favorite reason why to trade. I create auto sells if the value of my cryptocurrency begins to fall more than 5%. Imagine bitcoin dips 15% and you had a auto sell at 5% and buy back after the 15% dip is going to increase your bitcoin.

Also, its great to be able to "trend ride", when a cryptocurrency is taking off with a 100% gain in 24 hours, and you notice it at 30% and jump in at that time and out at 75% is something I do to quickly profit for the day.

[+InsaneNutter MVC]

12 hours ago, Seetheworldsecond said:

I am glad you enjoyed your read. I absolutely do find it beneficial to trade, if you can do it with patience. Preventive loss measures can be implemented on a cryptocurrency exchange and this is my favorite reason why to trade. I create auto sells if the value of my cryptocurrency begins to fall more than 5%. Imagine bitcoin dips 15% and you had a auto sell at 5% and buy back after the 15% dip is going to increase your bitcoin.

Also, its great to be able to "trend ride", when a cryptocurrency is taking off with a 100% gain in 24 hours, and you notice it at 30% and jump in at that time and out at 75% is something I do to quickly profit for the day.

You make some good points, if you ever did an article about trading i'd certainly give that a read too. The ability to automate various aspects is appealing as I don't have to be constantly watching 24/7 then.

 

Maybe that is something I should re consider and leave a little on an exchange just to have ago and see if I can make something from it.

[DConnell Member]

I get Bitcoin the way I always have:

 

 

Spoiler

 

[Salty Wagyu]

UK can get involved easily without paying heavy fees at Coinbase. Look up coinbase and revolut youtube vids for depositing and withdrawing.

[SnoopZ]

I use Kraken for its low fees and more options for trading other cryptos compared to Coinbase which I started on.

On 09/03/2018 at 8:45 AM, chrihan said:

hi, i want to start trading, can you recommend me the most intuitive platform for beginners? 

Check out Kraken or Coinbase.

[SnoopZ]

On 1/4/2018 at 10:59 PM, Seetheworldsecond said:

I decided to write a guide after jumping from multiple bitcoin trading platforms until I found the best one for me. I started buying bitcoin at $900.00 in late 2016 and traded for the first time last year. I recommend Binance.com as the best cryptocurrency exchange platform. Link to my blog for additional insight into some of these cryptocurrency exchange platforms can be found at http://howtobuybitcoins.guide/best-cryptocurrency-exchange/

 

I added many tips and advise from my own experience. Enjoy my fellow neowins. I am excited to learn what people here are using.

Is Gdax like Kraken or do you still need to use Coinbase too?

[SnoopZ]

On 3/23/2018 at 10:13 AM, chrihan said:

Actually, I discovered Coindeal.com and i think they are trustworthy, support is great and there the community vote for new cryptos which are added on the exchange

Seeing you're just starting out in trading using a new exchange is very brave in my opinion, rather than one that has been around and proven for years, but good luck to you you may never have an issue.

 

Maybe the OP has some thoughts on Coindeal?