Users moving from Poloniex to Bittrex. Some Hints on What to Trade!
Bittrex was the exchange that had STEEM on the launch but Poloniex is the top volume BTC/altcoin exchange.
Due to last 2 weeks problems there (withdrawals, slow support, lags, site offline) loads of users started moving to Bittrex.
I assume a lot of Steemit users are on Polo and may be moving to Bittrex.
Poloniex Volumes
Bittrex Volumes
Bittrex is lower for now but users are catching.
The amounts are even out pretty much right now.
Coins That Bittrex has and Poloniex Doesnt (for now)
There is loads but i will tell you a few worth buying/checking since they trade on other exchanges and had BIG price spikes in past. I also believe some of those may be added to Poloniex after they fix issues.
EXCL
3 years old fork of DASH (which went to 100USD) but with PoS instead of PoW. Lately roadmap released.
XZC
Coin using zerocoin alghoritm (same as ZEC but released before it) roadmap released lately.
Other Unique for Bittrex Coins To Check
VERGE ZCL GBYTE UBQ ANS EDG
In url just change XXX into coins name you want to check https://bittrex.com/Market/Index?MarketName=BTC-XXX
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Bittrex is so much better. Glad its happening.
I haven't had any problems with polo (yet), but I'm looking with interest to kraken and bittrex.
Just a thought, an increase in traffic could slow down any platform, and in the last few months there was a lot of interest in cryptocurrencies from newspapers and general public.
Yeah, I used to use BTC-E but bittrex has been my go to! They are great and one of the only ones that require a 2FA for higher withdrawl limits!]]Happy trading
There is a good argument for having accounts on both exchanges.. Arbitrage being one of them.. Also the opportunity to trade even if one is down or experiencing troubles (like now). As customers move over to Bitrex, some of Polo's issues should improve, so maybe the shift will be a win-win.
Diversifying risk by using multiple exchanges is a great idea. Hopefully in the near future decentralized exchanges will evolve to dominate the market.
We will have to wait and see, im always taking earnings off the table at my exchanges than moving into hardware wallets. Happy cryptosing for the next few years!
Yeah im looking to set up a bot to capitalize on some arbitrage between polo and bittrex
Man, I don't understand. Poloniex seems fine. It's user friendly, intuitive and work like a charm.
About the coin, I think there are enough. Peace!
Poloniex has many issues and the response from insiders is underwhelming. Makes me feel growth is being mismanaged.
nice
Yeah, thats great! glad your happy. But many people are not. Bittrex has a much better selection and an easier to use interface! Happy tarading, do what works best for you
Yeah, thats great! glad your happy. But many people are not. Bittrex has a much better selection and an easier to use interface! Happy trading, do what works best for you
Everyone is finally identifying the risk of keeping all your eggs in one basket.
Bittrex is great for sure. Best idea is keep your trading on 2 or more exchanges incase one ever goes down.
I dont keep the majority of my coins on an exchange. I own the Ledger Nano S and am always taking profits into one of the top cryptos from my other wins! Have fun, the only secure place to store is an offline hardware wallet, or paper! Exchanges are dangerous, be for warned.
You are absolutely right, its really the best advice. Only so many still keep a signifigant portion on exchanges for whatevwr reason, so if they insist on it please spread it amoung more than 1 exchange.
Good call!
Hmm… I'm new to all this; I've moved bitcoin I had in poloniex&bittrex to a bitcoin wallet, but I've still steem and few other small quantity of other coins kept there; so, you suggest to put coins on an exchange just for the time to make the exchange, and then move them away in wallets. Though, withdrawing has a fee, and if I want to exchange more in a near future, don't you think it's better to take the risk of leaving coins on the exchanges?
Paying a small fee is nothing to losing all your coins.
Let's say you store 10k coins and got a 0.00001000 transfer fee, that's nothing comparing to losing those 10k coins right? :)
I do not think its worth risking, you can have better onlines wallets that are frmo your phone. If you are worried about fee's trying buying more Ethereum instead of bitcoin, which is now up at around 140$ from around 40$ just two months ago! So, its best not to spend. Really. I just like showing people that you can trade. I will do some videos on trading today! and about steem power and powering up! Cheeers Thank you for the comment
Well said! I also think that if someone else but you has your coins, you don't really own those coins. Basically if you don't have it in "your hands", it isn't yours. Exchanges can get hacked or shut down... Keep there what you really need to keep there but not more. Oh and yes using several exchanges is the way to go if you want to spread the risk.
Yeah, offline storage, I am almost always taking profits and moving them off the table in the excchange. Risky bizz nisss
True that! Better safe than sorry! But in the end, I don't think there is such a think as safe with crypto. Maybe just safer...
Its more about the freedom than the safety.. B Franklin said it. THose who risk freedom for security deserve neither! Banking freedom for all!!
Yeah, looks like with the way things are going everyone can be a banker...
Thanks for the sound warning. Its not the first time I've read this recently. I own a trezor, but it sounds like it would be a good to idea to have a Ledger nano S as well, it seems like its more versatile in its coin holding capabilities. especially for someone wanting to do a bit of trading. Is that correct? followed
Something about Bittrex says I don't trust it. Can't put my finger on it. If I remember correctly they also require ID to sign up. I'd rater use HitBTC or BTC-e and preferably with small sums at a time.
they dont require ID to signup at bittrex at all
Good to know ^ Something about them though. I'll check back, maybe they've changed more than I'm willing to admit...
yeah, ID requirements are important. its called KYC
ID requirements are just one way you can know your customer and hardly necessary.
That doesnt make anysense from a baanking perspecitve. From a bitcoin yes, dont need any of that info. But there is no registered owner to BCT-E is owned anon. So you arent covered by a company of any kind. KYC are standard for anyone who has ever done international business. If you are a business, you will agree. WE like standards and regulations! Cheers.
I've had a business. I don't have any problem with them providing me information about themselves and hefty guarantees. But I disagree, because it's my ID they're requiring.
I like standards, but I never liked the state regulations.
I made the jump too . Make sure to check out Trst as well, btw. Vitalik Buterin and Bo Shen are advisors on the project.
Good info. I had moved everything before that mess has started.
Smart move!
Very intuitive :-) Thank you @bart2305.
Thanks a bunch for all this great information! Namaste :)
We can only hope that bittrex can handle the increased traffic!!
Basically what I was thinking :-)
Hehe, yeah. We can't be having that.
I have my accounts on both, and I have been using poloniex much often due to high user enrollment which make it easier to trade. Now, I also think it's time to use bittrex over poloniex because polo is lagging down and also many users have started using bittrex. The information you provided were much helpful, thank you!
You are correct. Poloniex is great until you run into a problem and realize they aren't being fixed in a timely manner. Support Bittrex so Polo gets their act together.
yes! I agree
yep I moved my account earlier this week.
Also on Bittrex: Antshares (ANS)
Oh yes i will add them, i have ANS too
For the beginners at bittrex i will advise gup and edg tokens for trade. Good projects.
I see also a lot of potential in GUP. Will look into EDG. Thanks for the tip.
I just post a blog about it today, you can check. It has more potential than gup actually.
oh yes i forgot of EDG, added now
Thanks, it definetely worth for it in future.
I like your blog so i start to follow you.
It hits 20% profit after this message :)
I've literally never had a problem with polo, i still have funds there now, i think a lot of people get spooked and follow the herd, they put out a press release the other day laying out there long term plans, polo like a lot of exchanges is trying to deal with the sudden surge of new users to the crypto community.