6 ms·

Which is a safe and friendly exchange according you people?

arthurcolle 9y ago
There are tradeoffs you have to accept. Coinbase used to be great- super user friendly and reliable, and most importantly, FAST. Buying anything from Coinbase now is a joke, and they have repeatedly committed fundamentally unacceptable actions for a company dealing with money and related analogues like, after a transaction was supposed to settle, push out the date that you'll receive your assets. Unfortunately they are the best when it comes to quickly cashing out, and in terms of buying I have no other alternative that I've used thats reliable. Depending on the asset you might have some luck with Cex.io or others. Here's a link I found with a quick Google search that might be of value to you: https://99bitcoins.com/buy-bitcoins-debit-card/ https://99bitcoins.com/buy-bitcoins-debit-card/ Don't ever hold your assets on an exchange for any length of time after acquiring them, counterparty credit risk is no joke.
- fbdjskajxb 9y ago
  You’d think they would make it easier to buy, the price would end up higher that way and they’d get more fees. My only thought is maybe they slow down buys to get themselves a look-back period where they can decide to cancel transactions that don’t go their way before filling the order. That would maximize the average revenue per transaction a lot during periods of significant volatility. It would skew profitability upward, at the cost of user experience and goodwill. Seems like more of a short-term strategy by a company that is trying the milk the crypto craze as much as possible and willing to burn market share in the long run as the fad dies down. Then again, could just be unicorn growth pains.
MatekCopatek 9y ago
Disclaimer: anecdotal, heard from employees of an exchange. Coinbase, Bitstamp and a Swedish exchange whose name I forgot are three that have all their user's assets covered/available.
xorcist 9y ago
Bitstamp is probably your first option. They are licensed and the people running it are well known.
JohnJamesRambo 9y ago
Gemini, Binance.
- joosters 9y ago
  Here's a suggestion: Don't trust any exchange (or, let's face it, any company) whose only contact details on their website are email addresses or instant messenger. Binance looks as shady as they get.
  - fastball 9y ago
    Yet I've never had an issue withdrawing from them, where as I've had countless problems withdrawing from basically every other exchange, including (especially) the ones that have a US address listed on their website. Binance fees are low but not so low that I doubt how they make money. They have a huge number of pairs without having too many shitcoins. Many of their pairs are now ETH/___, which is much better for many people due to high BTC fees. But yeah, I'm going to completely ignore a great level of service and security, and instead be worried because they don't list an address on their website. /s What good is a non-[insert your country] address really going to do for you anyway? A small-time crypto trader isn't going to have any power to get anything from most foreign domiciled companies without very significant effort. Finally: this goes against the entire principle of cryptocurrency. The point is that I don't want to have to trust my nation (or any other nation). I trust Binance because they haven't fucked me over. The same can't be said for legally domiciled US exchanges I've traded on and the US government.
    - bby 9y ago
      Maybe: They are slowly building trust of not fucking you over so that when they do fuck you over you don't expect it.
  - JohnJamesRambo 9y ago
    Binance actually has an active subreddit with actual employees from Binance that answer questions and do customer support there which is unheard of in the age of waiting weeks to get support tickets answered at places like Coinbase. Binance is as good as it gets for customer service in crypto in my opinion.
zeroxfe 9y ago
BitStamp and Gemini are the safest, IMO. I'd recommend Kraken too, but they've been really overloaded lately.
- dom96 9y ago
  Hrm, this is interesting. I looked up Bitstamp on Wikipedia and somebody edited the website from bitstamp.net to bitstamp.one recently[1]. Seems like a phishing attack. 1 - https://en.wikipedia.org/w/index.php?title=Bitstamp&type=revision&diff=822212564&oldid=822169012 https://en.wikipedia.org/w/index.php?title=Bitstamp&type=rev...
  - deleted 9y ago
    [deleted]
dom96 9y ago
The only exchange I've been able to get verified on successfully (and I've tried Coinbase, Gemini, Kraken, Bitstamp and probably others that I am forgetting) was Luno[1]. While it was relatively easy to get verified on Luno, their "instant sale" prices are quite high and I see no way to place bid/ask orders directly. I'm also interested in other recommendations. 1 - https://www.luno.com/invite/XHBQ6 https://www.luno.com/invite/XHBQ6 (Note, there is an invite code in this URL, feel free to remove).
- irond13 9y ago
  At the moment you can only trade (place bids/asks) on Luno with the following currency pairs: BTC/IDR, BTC/MYR, BTC/NGN, BTC/ZAR (largest volume) and ETH/BTC. I think they started out as a South African only exchange a few years back.
oculusthrift 9y ago
i like binance personally. it’s the most popular. but maybe i’m naive

There are tradeoffs you have to accept. Coinbase used to be great- super user friendly and reliable, and most importantly, FAST. Buying anything from Coinbase now is a joke, and they have repeatedly committed fundamentally unacceptable actions for a company dealing with money and related analogues like, after a transaction was supposed to settle, push out the date that you'll receive your assets. Unfortunately they are the best when it comes to quickly cashing out, and in terms of buying I have no other alternative that I've used thats reliable. Depending on the asset you might have some luck with Cex.io or others. Here's a link I found with a quick Google search that might be of value to you: https://99bitcoins.com/buy-bitcoins-debit-card/ https://99bitcoins.com/buy-bitcoins-debit-card/ Don't ever hold your assets on an exchange for any length of time after acquiring them, counterparty credit risk is no joke.

fbdjskajxb 9y ago
You’d think they would make it easier to buy, the price would end up higher that way and they’d get more fees. My only thought is maybe they slow down buys to get themselves a look-back period where they can decide to cancel transactions that don’t go their way before filling the order. That would maximize the average revenue per transaction a lot during periods of significant volatility. It would skew profitability upward, at the cost of user experience and goodwill. Seems like more of a short-term strategy by a company that is trying the milk the crypto craze as much as possible and willing to burn market share in the long run as the fad dies down. Then again, could just be unicorn growth pains.

MatekCopatek 9y ago

Disclaimer: anecdotal, heard from employees of an exchange. Coinbase, Bitstamp and a Swedish exchange whose name I forgot are three that have all their user's assets covered/available.

xorcist 9y ago

Bitstamp is probably your first option. They are licensed and the people running it are well known.

JohnJamesRambo 9y ago

Gemini, Binance.

joosters 9y ago
Here's a suggestion: Don't trust any exchange (or, let's face it, any company) whose only contact details on their website are email addresses or instant messenger. Binance looks as shady as they get.
- fastball 9y ago
  Yet I've never had an issue withdrawing from them, where as I've had countless problems withdrawing from basically every other exchange, including (especially) the ones that have a US address listed on their website. Binance fees are low but not so low that I doubt how they make money. They have a huge number of pairs without having too many shitcoins. Many of their pairs are now ETH/___, which is much better for many people due to high BTC fees. But yeah, I'm going to completely ignore a great level of service and security, and instead be worried because they don't list an address on their website. /s What good is a non-[insert your country] address really going to do for you anyway? A small-time crypto trader isn't going to have any power to get anything from most foreign domiciled companies without very significant effort. Finally: this goes against the entire principle of cryptocurrency. The point is that I don't want to have to trust my nation (or any other nation). I trust Binance because they haven't fucked me over. The same can't be said for legally domiciled US exchanges I've traded on and the US government.
  - bby 9y ago
    Maybe: They are slowly building trust of not fucking you over so that when they do fuck you over you don't expect it.
- JohnJamesRambo 9y ago
  Binance actually has an active subreddit with actual employees from Binance that answer questions and do customer support there which is unheard of in the age of waiting weeks to get support tickets answered at places like Coinbase. Binance is as good as it gets for customer service in crypto in my opinion.

zeroxfe 9y ago

BitStamp and Gemini are the safest, IMO. I'd recommend Kraken too, but they've been really overloaded lately.

dom96 9y ago
Hrm, this is interesting. I looked up Bitstamp on Wikipedia and somebody edited the website from bitstamp.net to bitstamp.one recently[1]. Seems like a phishing attack. 1 - https://en.wikipedia.org/w/index.php?title=Bitstamp&type=revision&diff=822212564&oldid=822169012 https://en.wikipedia.org/w/index.php?title=Bitstamp&type=rev...
- deleted 9y ago
  [deleted]

dom96 9y ago

The only exchange I've been able to get verified on successfully (and I've tried Coinbase, Gemini, Kraken, Bitstamp and probably others that I am forgetting) was Luno[1]. While it was relatively easy to get verified on Luno, their "instant sale" prices are quite high and I see no way to place bid/ask orders directly. I'm also interested in other recommendations. 1 - https://www.luno.com/invite/XHBQ6 https://www.luno.com/invite/XHBQ6 (Note, there is an invite code in this URL, feel free to remove).

irond13 9y ago
At the moment you can only trade (place bids/asks) on Luno with the following currency pairs: BTC/IDR, BTC/MYR, BTC/NGN, BTC/ZAR (largest volume) and ETH/BTC. I think they started out as a South African only exchange a few years back.

oculusthrift 9y ago

i like binance personally. it’s the most popular. but maybe i’m naive