Trading Crypto Recommendations

[memeticist]

I was wondering what exchanges people were using to trade cryptos? Also, what analysis software and sources do people find useful?

Thanks for any recommendations.

 

[dokdonia]

For general use and since I live in a shitty state and can't use most US exchanges (or they have shitty options for trading), I use Binance, Kucoin and Coinbase Pro the most but I have accounts on a bunch of others like OKEx & HitBTC among others. If you are in the US and use an offshore exchange, you will likely need to use a VPN and set the origin country to someplace the exchange allows (and don't need to be verified by the exchange to use either). Read their Terms & Conditions.

You should learn how to do technical analysis. You don't really need software for it. Many of the exchanges allow you to draw all over charts and to add indicators. TradingView dot com allows you to do the same but the free version limits the number of indicators you can use on charts.

TA will only get you so far. You should also learn how to do financial and fundamental analysis. That way you can find undervalued projects with a propensity for growth. The market is loaded with shitcoins that go through repeated pump and dump cycles. Solely doing TA on them will often be a fool's errand.

 

[Abt]

I use Huobi most of the time, Binance and coinbase also good.

yeah keep away from those p&d shitcoins, get projects with good fundamentals and stick to them. They will pay out in the long run

 

[dokdonia]

I forgot to mention that it would be advantageous to immerse yourself in the crypto community as a whole as well as the niche categories and projects you are interested in. Knowing what's going on is powerful information. Like many markets and assets, movement is often driven by psychology and sentiment brought on by a multitude of factors including adoption by industry, benchmarks hit or miss, etc...

 

[egonormical1010]

Coinbase Pro for super cheap fees

 

[memeticist]

Thanks for all the responses.

Abt: The fact that Huobi is a Chinese company makes me a bit nervous. But if you have had good experiences I will investigate that exchange.

egonormical1010: Coinbase Pro is pretty cheap if you are moving big money, but I will mostly be in the $10-$50 thousand range and that puts the fee at 0.35%. Bitfinex charges 0.1 for makers and 0.2 for takers, while Bianance charges 0.1 and discounts 25% of that if you pay in BNB.

Thanks for all the recommends dokdonia.

I am planning on focusing on scalp trades that are within 50-75% of the days high-low variance and particularly when there is strong resistance to a breakout uptrend. But that just sounds so obvious that I feel I must be missing something.

I am starting to investigate oscillator indicators, but I don’t know how those translate from equities to crypto.

I agree that fundamentals must be always considered. I do like Kitco news and Lyn Alden for macro analysis that has a crypto slant. I am certainly open to anyone’s suggestions on other sources that have been of value to them. Particularly those who focus on short-term analyses.

 

[sinewave3]

Thanks for all the responses.

Abt: The fact that Huobi is a Chinese company makes me a bit nervous. But if you have had good experiences I will investigate that exchange.

egonormical1010: Coinbase Pro is pretty cheap if you are moving big money, but I will mostly be in the $10-$50 thousand range and that puts the fee at 0.35%. Bitfinex charges 0.1 for makers and 0.2 for takers, while Bianance charges 0.1 and discounts 25% of that if you pay in BNB.

Thanks for all the recommends dokdonia.

I am planning on focusing on scalp trades that are within 50-75% of the days high-low variance and particularly when there is strong resistance to a breakout uptrend. But that just sounds so obvious that I feel I must be missing something.

I am starting to investigate oscillator indicators, but I don’t know how those translate from equities to crypto.

I agree that fundamentals must be always considered. I do like Kitco news and Lyn Alden for macro analysis that has a crypto slant. I am certainly open to anyone’s suggestions on other sources that have been of value to them. Particularly those who focus on short-term analyses.

Hear about the old Bitfinex Tether controversy yet? Old but it still happened.


On April 25th, (2019?) the New York Attorney General’s office said the team behind crypto exchange Bitfinex, who shares a parent company with Tether (iFinex), used funds (collateral) from Tether to cover up $850 million in (alleged) losses. While this is not the same as a hack, which have become more prominent and lucrative in recent years, if this money is lost the effect would be the same but on a much greater scale.

After An $850 Million Controversy, What Everyone Should Know About Bitfinex, Tether And Stablecoins

On April 25th, the New York AG's office said Bitfinex, who shares a parent company with Tether used funds (from Tether to cover up $850 million in (alleged) losses. Anybody currently or considering investing in crypto assets needs to understand a few key items regarding this controversy.

www.forbes.com

 

[memeticist]

I had heard about that one. I was always skeptical of Tether. Dai looks interesting as a potential stable coin, but I don't know a lot about it. If you or anyone has any info on it I would love to hear it.

I don't know whether I should completely discount Bitfinex as an exchange. I probably should, but 0.1% is really nice and greed has never hurt anyone .

 

[sinewave3]

I think it’s always good to be set up and verified at a couple exchanges.
Personally I use Coinbase Pro, but they alhad a fine from the Feds for being shady. Also when there are extraordinary market moves CB websites always seem to struggle...