Best exchange for buying/selling EOS - Bitfinex vs Kraken

in #eos7 years ago

Since Bitfinex was first to open EOS trading, the price over there tend to be a little bit lower, so that's my choice when it comes to buying EOS.

Bitfinex also has lower withdrawal fee: 0,1 EOS vs 0,5 EOS, plus there's no address setup fee (at least I haven't noticed one, but please correct me if I'm wrong). Kraken charges 2 EOS just so you can deposit your first tokens. This makes it a no brainer that if you have or are interested in a small amount of EOS, Bitfinex is the way to go.

Though it's worth to mention that currently you can't deposit USD to Bitfinex, leaving you only with EOS/BTC and EOS/ETH pairs. Same may go for Kraken if you're new to this exchange, as the verification process can take weeks (it's been 3 weeks since I applied and am still waiting for tier 2 verification).

Last, but not least is the fact that Bitfinex was hacked which, depending on how you look at it, can mean it's a higher or lower risk exchange. Let me explain.

Considering that after the jack Bitfinex kept running the exchange and covered stolen money from it's pocket instead of closing the business, it may mean that:

  1. another hack can be too much to handle and then they will have to give up, or
  2. they are better prepared so the hack is less likely to be successful, but if it was to be succesful they will keep running the exchange like they did last time.

As you can see there are some things to consider. Nevertheless if you're interested in buying or selling small amounts of EOS, Biftinex seems to be a better choice. For large amounts it'll depend wether you want to buy (Bitfinex) or sell (Kraken).

PS. Before buying or selling EOS consider reading a post by @adamscochran in which he explains how China leads the price of the EOS token (making up to 80% of volume) and how to take advantage of that: https://steemit.com/eos/@adamscochran/my-eos-trading-strategy-arbitraging-china

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Thanks for sharing
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Decent point. Good to see I'm not the only one that is thinking about this. I strongly advice people to only buy in to cryptos that have a solid background: A solid team, product, advisors, preferably VC investors, etc. Sell all cryptos that don't have this solid background. It's a waiste of money. I found this amazing platform: https://www.coincheckup.com I don't know any other site that gives such good inisghts in the team, the product, advisors, community, the business and the business model, etc. Check for example: https://www.coincheckup.com/coins/Eos#analysis For a complete Eos Indepth analysis.