Best bitcoin exchanges - short list
If you came just for the links.
Where to buy bitcoins for EUR from Europe
If you want to get rid of the Euro and want to send a cut of your paycheck every month to an exchange you can try Kraken.
- You will need to verify (ID and proof of address)
- EUR SEPA deposits are free, withdrawals for 0.09EUR.
- Margin trading available.
- PRO: You do not need to initiate a deposit by logging in and announcing a deposit. You can just keep sending in the money with every paycheck.
- CON: Slow support. Lately people complain a lot. 1, 2
Another option is Bitstamp. Verification is same as on Kraken plus a questionnaire. You need to announce a deposit before you make it which is a hassle.
- You’ll be able to market buy directly from a debit card.
- Don’t get lured by their cheaper prices: Their fee system is evil, each trade is cut into several smaller ones and fees for each of those sub-trades are rounded up.
- If you have a lot of money and want to arbitrage though there is an opportunity to leverage the market inefficiency on Bitstamp (they have BTCUSD, BTCEUR and EURUSD markets).
- Margin trading should be available later in 2017.
Where to buy bitcoin in the UK
If you want to buy BTC for GBP your best bet in 2017 seems to be Coinfloor as they just recently came up with zero-fee trading.
Where to buy bitcoin from the US
The most popular spot exchange for Americans is Gemini. People generally despise GDAX/Coinbase because of their intrusive behavior…
Where to trade bitcoin for profit
If you are not from the US you should not have a problem with sign up on a futures platform of your choice. Futures are a derivative, the market is different from normal BTC/fiat spot, but you only incur profit in BTC which makes life easier for all sorts of reasons.
For people who can verify and are not in the US the best choice will be CryptoFacilities with their low leverage (6x) which is ideal for bitcoin.
For Americans the way to play the money is on BitMEX which is an exchange that doesn’t allow US IP either but you don’t need to verify and can sign up from Tor. Leverage on BitMEX is flexible 1x-100x and the closest to BTCUSD spot is their perpetual swap.
Where to sell bitcoin
To be completely honest, if you want to cash out your best bet is LocalBitcoins for small volumes and OTC if it’s a lot of money.
- OTC can be done on itBit, Bitfinex or Kraken
- LocalBitcoins is good for smaller amounts of money. Good if you, for instance, want to reduce exposure as bitcoin rises in value but if you don’t want to get fully out.
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Good to Read
- Finance & Technology: VPRO Backlight on Youtube (full documentaries)
- Macro & Bigger Picture: Stratechery
- Wall Street Technologist
- Austerity Sucks
- For Coders: Crypto Trading Tools
- Bitcoin Markets Wiki
- Baby Pips Forex and Charting School
- Technical Analysis for Dummies [PDF]
- StockCharts Chart School
Basics to Start Bitcoin Trading
- What is AML/KYC
- How high are fair flat fees
- What are Maker-Taker fees
- How to get trading charts
- How to trade on mobile
- Best practice
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