Crypto Exchanges - a newbie journey
Unless you know someone personally with crypto that will sell you them for cash then you at some point will have to sign up for an exchange. The interface can be a little daunting as you first look at all the numbers and graphs. But after a while they will start to make sense.
I've heard all sorts of stories and rumours about them being unsafe and the weak link in the security system. But they are a necessary part of the crypto journey. Once you have done your trading then the secure thing to do is transfer to your own wallet.
I thought I'd create a post to share my journey into using then and hopefully help others along the way.
So far I have signed up for 4. I see an advantage in using several as they often deal with different currencies and also you can get varied rates. The interfaces are all different and I'm sure I will eventually find a favourite.
If you intend to sign up then I'd ask if you would kindly use one of the referral link which in turn give me a commission for any trade you do. TOP TIP if you have a group of friends then all sign up for different exchanges (using my links if you please) and then refer each other..... this way you will create a circle of sharing. The commissions aren't huge and although claim things like 50% when you read the small print it is actually a lot less, but hey free money, right!?
Bitstamp; was the first place I ever bought bitcoins for. It only deals in a few crytpto; bitcoin, bitcoin cash, litecoin, etherium and ripple all can be traded for euros and dollars. It is very quick and I found it easy to use.
Cryptopia; seems to be new Zealand based, has the slickest looking interface I've seen deals with over 400 crypto currencies and has the added advantage of a built in marketplace/shop where you can trade your crypto for real world items https. Its like ebay for crypto https://www.cryptopia.co.nz/Register?referrer=gytribe
Yobit I had people warn me against this one but I haven't had ay issues. It has the added advantage that you can get a bunch of free coins to get you going, plus there is a quick double or nothing dice game for crypto if you like that sort of thing. There is a who ICO section where you can find out about the even riskier world of backing new crypto coin releases. Its risky as coins can fail but the rewards can be great as you often get new coins at rock bottom prices and bonuses. https://yobit.io/?bonus=IxMJZ
Binance I signed up for this one as it had some coins I couldn't find elsewhere. Binnance seems to run regular competitions to win crypto and also has an interesting development section where they help emerging crypto set up.
https://www.binance.com/?ref=16189823
So that's all I've got time for as my small child needs dad time. i'll be back to this post to add in some more info.