Crypto Exchange Comparison!!!

hkhkhkhkhk123 · Nov 5, 2021

Guys, I need your recommendations on crypto exchanges who are:
1. Easy to deposit/withdraw (low fees, no limits on values)
2. Low fees on trade(preferably no fees at all)
3. Support a larger number of coins or tokens
4. Legit and regulated.

Do any good ones meet the above requirements?

I am using Binance. But it doesn't support a lot of coins, and the trade fees are pretty high.

Chris Newman · Nov 5, 2021

Remember 1 thing in terms of listings Binance is the champ amongst exchanges. In the very small exchanges you will coins that have such a low market cap or rather order books, that a buy or sell order gets executed after days !!!
Other than Binance, check Pionex, lots of coins, lowest trading fees that I have seen and good martket cap coins, easy to deposit / withdraw, legit and partly regulated. Ofcourse lots of other medium level exchanges on which you can get nice info at CoinMarketCap and CoinGecko websites.

hkhkhkhkhk123 · Nov 5, 2021

Raj Kesu said:
Remember 1 thing in terms of listings Binance is the champ amongst exchanges. In the very small exchanges you will coins that have such a low market cap or rather order books, that a buy or sell order gets executed after days !!!
Other than Binance, check Pionex, lots of coins, lowest trading fees that I have seen and good martket cap coins, easy to deposit / withdraw, legit and partly regulated. Ofcourse lots of other medium level exchanges on which you can get nice info at CoinMarketCap and CoinGecko websites.

Binance is a Chinese firm which i highly doubt its security and privacy.

Chris Newman · Nov 5, 2021

hkhkhkhkhk123 said:
Binance is a Chinese firm which i highly doubt its security and privacy.

Binance WAS a Chinese company. Binance was initially based in China, but later moved its headquarters to Cayman Islands. CEO of Binance is of Chinese origin, but now lives in Canada and has Canadian citizenship. So, Binance is no longer a Chinese company nor is it now a Chinese owned company.
Security / privacy wise, there is no centralized exchange that is totally safe, but Binance is the most safe amongst all the centralized exchanges. Why Binance may never scam and close ? Because it has it's own native currency BNB of Binance's own blockchain, the Binance Chain and BNB is a coin that has had a "cypto-organic" growtth and Binance earns huge from trading fees and reported a profit of between $800 million and $1 billion in 2020 and it keeps growing, as crypto acceptance and usage keeps growing. So, on a fundamental analysis the chance of Binance collapsing is EXTREMELY low.
Nonetheless, in any exchange, keep only that much with which you want to trade and the rest store it in a decentralized crypto wallet such as Trust Wallet, Atomic Wallet.

nersande · Nov 5, 2021

those are different goals.
and at some point you will have to pay the fees one way or another they all want to make money.

what stands out here, is your wish to buy more coins. kraken f.e. has even less.
but I would make a small list of coins you wanted to buy and could not and then check on cmc / coingecko where they are listed.
cex likely will be something like huobi (also chinese iirc), gate.io etc.

But most likely if you want more coins, you are looking at dexes where you can trade to your hearts content.
It is not regulated (I assume you mean by that 'gives you some security'?), but once you do your due dilligence (do I have the right coin) you can trade through metamask. If you want to add onto in security, you can go for a hardware ledger.

So, what are coins you wanted to trade it?
Warning: do not trade in coins which have automatic distribution like all the new meme coins. They are a nightmare tax documentation wise.

hkhkhkhkhk123 · Nov 5, 2021

nersande said:
those are different goals.
and at some point you will have to pay the fees one way or another they all want to make money.

what stands out here, is your wish to buy more coins. kraken f.e. has even less.
but I would make a small list of coins you wanted to buy and could not and then check on cmc / coingecko where they are listed.
cex likely will be something like huobi (also chinese iirc), gate.io etc.

But most likely if you want more coins, you are looking at dexes where you can trade to your hearts content.
It is not regulated (I assume you mean by that 'gives you some security'?), but once you do your due dilligence (do I have the right coin) you can trade through metamask. If you want to add onto in security, you can go for a hardware ledger.

So, what are coins you wanted to trade it?
Warning: do not trade in coins which have automatic distribution like all the new meme coins. They are a nightmare tax documentation wise.

Thank you for your tips.
Call me whatever you like, but maybe it's just me who feels that using a google chrome extension wallet (metamask), is not that secured.. I feel that the tokens there can easily be hacked. I know it is handy and easy to use but security issue concerns me.

R4v3nbl4ck · Nov 5, 2021

I highly recommend FTX. It's one of the biggest and most trusted exchanges in the world.
It has a nice selection of coins and tokens all the advanced features you may think of (futures, stocks, and so on).
Their CEO said he spends 4 hours per day working on compliance, so it's legit and regulated.
Last but not least, if you stake their token (FTT) you can withdraw ERC-20 tokens for free. Other exchanges charge you a $25 fee to do that.
Another great exchange is Crypto.com, you can't go wrong with it either.

nersande · Nov 5, 2021

Call me whatever you like, but maybe it's just me who feels that using a google chrome extension wallet (metamask), is not that secured.. I feel that the tokens there can easily be hacked. I know it is handy and easy to use but security issue concerns me.

That is good behaviour in general. However if you use proper routine and be careful with your transactions, metamask is very safe. If you want to be even safer: start your journey with a ledger / trezo, connect that to the metamask and work from there. This way each transaction needs to be confirmed with a press of a button.
Also Metamask is a very respected tool to use in the new crypto world - it is not just a chrome extension.

I found that most coins fall into the different tier:
- t1 they are on binance / kraken / robinhood
- t2 they are on the lesser exchanges (huobi, gate.io)
- there is a third tier but I usually dont bother with them
- they are on the dexes

you can easily get on the exchanges by just buying it - iirc the lower t3/t2 have something like 10k payment to get listed. which if you want to be blackhat is a marketing expense.
but there is some trust in "if it gets listed in these exchanges it is a longer running project" - they do their due dilligence.

And over all binance has a lot of the tokens, but I hear it takes their approval plus at minimum 1M to get listed (rumor).
Which is why I recommended checking coingecko and figuring out, which of the other exchanges always appears and just get accounts there.
You can easily transfer funds between the exchanges, but be aware of the cost of transfer and keep your shopping tokens separated from your long term hodl tokens: depending on where you live, you likely fall under fifo principle when it comes to tax season.

I usually use usdt or xlm to transfer between exchanges; usdt has the benefit of most tokens being available in those pairs and I just bite the bullet on the withdrawal fees once. hth.

Dakstar · Nov 21, 2021

nersande said:
That is good behaviour in general. However if you use proper routine and be careful with your transactions, metamask is very safe. If you want to be even safer: start your journey with a ledger / trezo, connect that to the metamask and work from there. This way each transaction needs to be confirmed with a press of a button.
Also Metamask is a very respected tool to use in the new crypto world - it is not just a chrome extension.

I found that most coins fall into the different tier:
- t1 they are on binance / kraken / robinhood
- t2 they are on the lesser exchanges (huobi, gate.io)
- there is a third tier but I usually dont bother with them
- they are on the dexes

you can easily get on the exchanges by just buying it - iirc the lower t3/t2 have something like 10k payment to get listed. which if you want to be blackhat is a marketing expense.
but there is some trust in "if it gets listed in these exchanges it is a longer running project" - they do their due dilligence.

And over all binance has a lot of the tokens, but I hear it takes their approval plus at minimum 1M to get listed (rumor).
Which is why I recommended checking coingecko and figuring out, which of the other exchanges always appears and just get accounts there.
You can easily transfer funds between the exchanges, but be aware of the cost of transfer and keep your shopping tokens separated from your long term hodl tokens: depending on where you live, you likely fall under fifo principle when it comes to tax season.

I usually use usdt or xlm to transfer between exchanges; usdt has the benefit of most tokens being available in those pairs and I just bite the bullet on the withdrawal fees once. hth.

Gate.io costs 30 grand

The Pink World · Nov 21, 2021

You can check out bybit or Huobi

these are the one i am Personally using because i been faced so many problems with binance so i shifted to bybit an year ago

Regards,
The Pink World

Crypto Exchange Comparison!!!

hkhkhkhkhk123

Regular Member

Chris Newman

BANNED

hkhkhkhkhk123

Regular Member

Chris Newman

BANNED

nersande

Junior Member

hkhkhkhkhk123

Regular Member

R4v3nbl4ck

Senior Member

nersande

Junior Member

Dakstar

Registered Member

The Pink World

BANNED

Main Menu

Marketplace

Making Money

BlackHat World