CryptoCurrency exchange & fees

[DigitalShark]

Hello, I have started "crypto game" a few months ago, and I realized that fees are cutting down my profits a lot. Which exchange would you recommend when it comes to fees? Also, I would like that that particular exchange has some reputation.

 

[waterworks]

I'm an American so I use the following.

Coinbase owns GDAX.
Coinbase = transaction fees for buying
GDax = no transaction fees (if you use LIMIT option for buying)

If I want to buy BTC, ETH, or LTC, then ...
I deposit straight from Bank account into GDax
Buy coin of choice.

If I want to buy Alt Coins, then ...

Buy ETH on GDax.
Transfer the ETH to Bittrex
Trade ETH for alt coin of choice.

That's the deal with trading. You need to minimize your fees as much as possible or they can put a serious dent into your earnings. Research all you can.

Never leave your coins on the exchange unless you are doing really short term holds for smallish amounts.

Only invest what you can afford to lose.

 

[BigManTing]

I'm an American so I use the following.

Coinbase owns GDAX.
Coinbase = transaction fees for buying
GDax = no transaction fees (if you use LIMIT option for buying)

If I want to buy BTC, ETH, or LTC, then ...
I deposit straight from Bank account into GDax
Buy coin of choice.

If I want to buy Alt Coins, then ...

Buy ETH on GDax.
Transfer the ETH to Bittrex
Trade ETH for alt coin of choice.

That's the deal with trading. You need to minimize your fees as much as possible or they can put a serious dent into your earnings. Research all you can.

Never leave your coins on the exchange unless you are doing really short term holds for smallish amounts.

Only invest what you can afford to lose.

Solid info!

I wonder if this applies to people in EU aswell?

 

[NxtGenLedz]

I'm an American so I use the following.

Coinbase owns GDAX.
Coinbase = transaction fees for buying
GDax = no transaction fees (if you use LIMIT option for buying)

If I want to buy BTC, ETH, or LTC, then ...
I deposit straight from Bank account into GDax
Buy coin of choice.

If I want to buy Alt Coins, then ...

Buy ETH on GDax.
Transfer the ETH to Bittrex
Trade ETH for alt coin of choice.

That's the deal with trading. You need to minimize your fees as much as possible or they can put a serious dent into your earnings. Research all you can.

Never leave your coins on the exchange unless you are doing really short term holds for smallish amounts.

Only invest what you can afford to lose.

Why just eth to bittrex? why not trade BTC?

 

[DigitalShark]

Thank you!

 

[waterworks]

Why just eth to bittrex? why not trade BTC?

1. Each coin has a different transfer time, due to a number of factors. Compare below. If a coin price is going nuts and price is jacking fast, I don't want to lose more money waiting for a slow transfer of coins. As you probably realized already, a single news article on a major site can cause the price of a coin to jump significantly. You have to be ready to move when you these news events happen, in order to maximize your profit potential.

https://support.kraken.com/hc/en-us...ong-do-crypto-or-digital-asset-deposits-take-

2. I like to invest in ETH right now as part of my strategy, and I don't currently have any BTC. Waiting for a big slide before buying BTC. So trading ETH for alt coins is my only option at this point.

 

[NxtGenLedz]

1. Each coin has a different transfer time, due to a number of factors. Compare below. If a coin price is going nuts and price is jacking fast, I don't want to lose more money waiting for a slow transfer of coins. As you probably realized already, a single news article on a major site can cause the price of a coin to jump significantly. You have to be ready to move when you these news events happen, in order to maximize your profit potential.

https://support.kraken.com/hc/en-us...ong-do-crypto-or-digital-asset-deposits-take-

2. I like to invest in ETH right now as part of my strategy, and I don't currently have any BTC. Waiting for a big slide before buying BTC. So trading ETH for alt coins is my only option at this point.

Ok but after you transfer your btc or eth to the exchange, the bid/sell orders are done instantly on the site, it doesnt require confirmations.. so the only thing that eth has over btc is the initial deposit..

 

[Deleted member 46019]

This exchange have very good reputation, options and ui, but began lagging recently:
https://www.bitmex.com/app/fees
On the other hand bitfinex and bittrex crashing almost on every kill zone hours.