We're nearly at the end of this month and I have to say, these last few months just flew by. Which is good, because that means we're getting closer to Steemfest3 :) (Can't wait)
I'm looking out my window and see snow dwindling down, it doesn't look like much yet, but they promised snow storms for some parts of Ireland, so it could just become more. So I chopped a few extra pieces of wood for the fire 😎
Anyway, I didn't just want to do a post about a coin today, so I figured I'd do one about the exchanges I deal with the most and have great experiences with. I know it can be hard to find the right exchange, especially when you just started trading cryptocurrency. There are so many out there and all have their pros and cons. Some have only cons...
source: pixabay.com
Binance
The one exchange I use the most nowadays is the Chinese exchange Binance. They had a few ups and downs, but from what I've seen so far they are quite reliable. Furthermore, they have their own coin, which can be helpful by paying fees in their coin. You'll get a discount if you do.
Binance has a large number of coins on their exchange and more possibilities for 4 trading pairs with BTC, ETH, USDT and Binance coin, more than most others I've seen so far. Trading with Binance is pretty straight forward, with the possibility to keep it simple (basic) or advanced. I've tried both and don't see much difference, but I think you'll have to try it for yourself to see which one you prefer.
Their fees are quite low, which is always nice and there are competitions going on all the time.
The one thing that attracted me to them was that they pay you Gas if you hold Neo in the exchange.
I would never hold huge amounts of anything in an exchange, but for fast trades I always have some of my coins there and this makes it extra great to hold Neo there.
Another strong point Binance has is their 2 factor verification when you log in. I know there are always ways to hack into accounts if someone really wants to, but somehow this makes that it feels a bit safer.
When you log in, you first give them your email address and password. After this you have to move a slider with a puzzle piece in the right position. Then they bring you to the second verification which is either by email, text or with google authorisation. When you want to transfer funds, they also send you an email to confirm.
I love this, because I don't get the feeling it's too easy to get in and steal your funds. Definitely a PRO!
OpenLedger and Bitshares
I used OpenLedger a few times and recently started using Bitshares, which is pretty much the same thing, with the same coins (I think, I haven't checked them all yet). You have an account with Bitshares and can log into OpenLedger with the same credentials. However, somehow I find the Bitshares exchange a bit more straightforward.
There are coins that are quite interesting and just the fact that it's decentralized is a great plus for me.
Just remember, just like here on Steemit: if you lose your key, you can't retrieve it, so make sure to store them in a safe (offline) place.
Kucoin
I recently also signed up with Kucoin who also has their own coin. I tried trading just one coin (Kucoin)and the experience is pretty good. I think they work pretty much the same as Binance, with the difference that it's a Korean exchange. As with Binance, they have competitions to win awesome prizes. Not that I would ever be eligible for these, as you need to trade quite a bit of funds for this, but still, for those who have lots of money to spend, this could be quite nice (if you win a luxury sports car for instance! 😊 I wouldn't say no to that! (would probably sell it and exchange for an RV, but that's another story...can't fit 4 kids in a lambo...🤣).