If You Are New Here, Which Exchanges Do You Use The Most?
I was clearing out the DMs I receive at Steem.Chat tonight and noticed the following DM asking me about bittrex.
It may seem surprising to some but many new users aren't aware of the exchanges used to buy in and cash out of the Steem ecosystem.
Since we're on a cryptocurrency powered platform there is a learning curve for most users. Most learn within week about all the options they have here. But some may take longer.
If you are a new user, which exchanges do you use currently. Share your doubts or queries in the comments and i'll address you there. :)
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I feel like the quickest one to change steem to btc is blocktrades. Then for a fiat conversion need zebpay (not because its fast but because its reliable) what are you using now btw?
Quickest yes but most expensive. It is unwise to use blocktrades for small transactions because of high fee.
What are your recommendations btw? I am not liking the new Bittrex which needs a kyc similar thing. And poloniex seems a lil glitchy
If you dont want to use Bittrex or Polo then convert everything in STEEM and use Binance
It has good volume and better rates as well, plus no KYC but subject to number of BTC you are trading
I had completely forgotten about binance, I just bought some coins which I knew would grow and uninstalled it so I will not move it again for a looong time lol Guess its time to re install
binance is top most exchange in world currently .. volums are quite good here.. so if you are active trader it is the heaven
How can we exchange through bittrex.
Sell SBD/STEEM for BTC on bittrex and Steem on Binance and then move your funds out to a local exchange in your country to liquidate. Reverse order for buying Steem.
i just experienced something on bittrex that am still not clear with it at first I use to make exchange of crypto without the verification but now i think i cant do that anymore please can someone explain why.
Verification is mandatory on Bittrex. Not mandatory for Binance for the basic user level.
Verification is not mandatory even in KuCoin, Bitfinex, Binance, HitBTC even if I'm correct then Kraken .. Most of American or Indian Exchange was very perticular on KYC .. i.e. user verification ..
I don't seems to understand how bittrex work, kindly explain better please.
There's an exchange I use on a whatsapp group it called olamax exchange basically a Nigerian and it said to be the most trusted exchange in nigeria.
With Bittrex you will need to sell sbd/steem for BTC and then transfer BTC to your local nigerian exchange to liquidate into local currency. Olamax might be easier. You can look up videos on trading on Bittrex to learn to trade there. But if you have a local exchange that works for you currently it might be better to use that.
Yup..its easier and it save stress.
Most of Indians dont understand crypto exchanges thats why they dont understand steemit
100% correct!
@sweetyvshah the reason is most of indian exchanges were involved in Fiat (RS) to BTC or few alts converstion .. They didn't get a chance to mature to next level :P ...
But after the recent issue with Banks .. you ll find most of existing exchanges will follow Crypto to Crypto Trading ..
That's good idea. Let's see the questions!
Binance, Bittrex, Kraken and Bitfinex.
I have used Kraken to get in some fiat and that had been the fiat gateway for me. Although Binance has been my main playground for a while now.
Sometimes we assume that exchanges are easy to know and handle but I remember when I was new in October last year, it took me a while to even understand how exchanges function. Man, I appreciate you recognizing this small but important fact.
Same but i've stopped using Kraken now. Prefer Binance and Bittrex. Serves my purpose to a large extent.
Thank you very much. I not yet done and I have no idea.
Dear @firepower as you have mentioned about crypto exchange ..
I hope you and your readers will be interested in mentioned related article
https://steemit.com/cryptocurrency/@devrajsinghrawat/important-notice-kucoin-bonus-upgrade-for-kcs-holders-upgrade-in-bonus-program-for-kcs
Effect of the Upgrade
Cheers
I use Bitcoin India for crypto trading.