Banning Bittrex for good : My new options are Cryptopia, Bitshares and Coss.io. What do you think?
Hey guys,
To follow on my previous post regarding the very weird behaviour of Bittrex, I decided to withdraw my altcoins from it.
Because I have the feeling that we can't trust them anymore.
I'm really looking forward for the next top 1 exchange which will be decentralised. I love Bitshares and its concept but so far there are not enough volumes for the coins I want to trade so I have to rely on an other centralised exchange.
For now, I have a lot of BTS on Bitshares that I hold and I can't wait for the platform to skyrocket. A bad event from centralised exchange will help Bitshares to become the top exchange.
I still need to daily trade so I needed a reliable exchange now.
After research I found Cryptopia and Coss.io pretty cool.
I think going on a too big exchange brings expensive fees, bad support and the risk that they will shut down without saying a word.
Cryptopia is based in New Zealand. I'm travelling over there so far, so it's easy for me to put some New Zealand Dollars on my account.
The website is clean, they have a lot of altcoins (lot of shitcoins but also lot of good one). Fees are pretty reasonable too !
The charts are correct, not the best, but still manageable to play around with tools. Volume is not crazy but the platform is still active every day.
They have a random reward system and a lottery but so far I think the volume needs to grow in order to make it efficient.
I wish they had a 2FA available for free (cost 35$ to extra security) as for now they asked only for logins and a PIN number.
A good thing, they have a marketplace where you can buy things with direct crypto currencies.
So I withdraw most of my day to day altcoins and BTC to Cryptopia and will see if the platform will surprised me.
To remember you, 95% of my investment is store in secured wallet. I'm only trading daily with the remaining 5%.
The second exchange is Coss.io. It is very new so means not good volume yet but they have a great concept and raised millions and millions during their ICOs.
Their unique feature is their reward system based on the fee that you paid during the transaction. They are basically rewarding you back with 50% from the fees that you paid (and the other person who buy/sell during the transaction will get the reward too).
They have already few good altcoins and I think it's just the beginning. So I created an account there and waiting for the platform to grow.
Right now, I will use Bittrex only to use their chart and tools as it is easier, cleaner and I'm use too.
Just to let you know, to withdraw my money it cost me around 10% of my total value. So ****** expensive. I can't handle this platform anymore.
Don't tell me about Poloniex or Kraken as it is the same thing. I'm using Kraken to send Euros on it (for the one who don't know me I'm a French native). On Kraken, every transaction cost me 1.50€. What a joke.
I don't mind paying the network fee it's normal, But I mind making someone richer while he is using me.
I'm using Bitfinex to trade IOTA and EOS and its a cool platform but that's it. Not enough choice for me.
Regarding decentralised exchanges, I tried Etherdelta but the platform doesn't load with my Mac system and I couldn't find why.
I heard of Kyber and Ox but still in development as well.
I also have the Waves platform where I hold my Waves coins, but again, not enough coins for me to use it daily.
Anyway if you have any other ideas of new exchange or old reliable one that I missed let me know !
Hopefully soon we will get rid of all these new big lobbies (centralised exchange) for good. And make the crypto market, a safest place for us.
Happy day, Happy trading Steemians !
I heard Bitfinex is shutting its doors to US customers on Nov 9th. Looks like authority is going to try to regulate bitcoin onramps and offramps. Decentralized exchanges are the only way to go, but AFAIK, it requires leaving your national fiat behind. I'm tempted to dump acceptance of Visa / MC and require payment in bitcoin or altcoins for my software.
I agree with you, the transition will be painful and not easy but it seems it's the only option to stay true to one of the purpose of crypto currencies .. Means Decentralisation.
If you have a business, you can lead the way indeed =). Again it will not be easy but you could be one of the pioneer . =D
Been hearing good things about cryptopia thanks for the
Thank you for the comment =)
I wouldn't leave any amount on any Exchange because of this is happening to bittrex and Poloniex last week then it's just a matter of time before the next thing happens on the next Exchange. Keep your coins in a hardware wallet or paper wallet.
As mentioned my friend I left only 5% of my investment value in exchange for me to trade daily.
The rest is secured and safe =)
I'm long term holder but also a daily trader. 2 stones 1 bird.
You don't have anything on exchange ?
My suggestion is to use Binance, it has 50% cheaper fees than Bittrex and lists all the exciting coins. Additionally you can reduce fees by another 50% if you use the BNB token. It's a really good deal, and a lot less crappy than Cryptopia.
I heard briefly about it, I'm going to check this right now =)
Is Cryptopia a crappy exchange for you? If yes, why? haha
I never felt safe on cryptopia.. they have terrible security features. Back when I traded on it (shortly) lots of people got funds stuck and some people got their accounts hacked. I don't think they have 2FA even? The volume that goes through is very low too, which makes it easy for whales to manipulate price. I was glad to be done with it tbh.
I undertand yes. I managed to put 2FA at the end yes.
Regarding the volume I agree it's very low. I keep Binance in mind and wait for news from China =). Thank you for sharing your experience my friend
I just saw it's from China. I think I would wait until their regulations are clear and not controversial anymore =)
Otherwise seems a good one. I checked HitBTC, there are terrible reviews about it and apparently it has been hacked not long time ago. Liqui have terrible reviews too. Same for Yobit. Arrgg
It's based in Hong Kong actually, which has different laws and regulations from China, but still is under the influence of China in some ways.
My recommendation is to keep funds in your wallet. Then when you're ready to trade, temporarily move to exchange, then move back into wallet. This is why withdrawal fees are such a big deal, because moving it back into wallets gets expensive.
From my perspective, my funds have about as much chance to be seized on a US exchange (due to new regulations) like Bittrex as they are on Binance. I trust neither. If you look for reviews on Binance though it's pretty much all positive.
It's crazy to not trust any of the exchange like this but still don't have a real choice. Can't wait for the DEX to rise up
Me too!
BitShares works really well for me now, since the last update.
I haven't tried out Coss.io yet, but will give that a try soon too!
Are you happy with volume? It is great only with famous altcoins for now is it correct?
BitShares? The volume can be a little low on some coins, but what I'm buying on there are more longer-term investments. I'm not sure I'd suggest trading on there, but it could be possible depending on the coin I guess!
Yes I understand, I'm looking for something with enough volume for day to day trading. For now BTS is not enough but I'm sure soon it will be =)
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