Exactly 9 days ago i wrote a post where i spoke that exchanges will start closing doors for new users more and more - https://steemit.com/bitcoin/@kingscrown/register-to-more-exchanges-more-and-more-are-closing-doors-for-new-users
Currently to the list of closed ones got Binance - the top1 volume exchange of the world.
So i suggest to speed up and register to other ones that are still open ie KuCoin that has same feeling as B.
Others Smaller/Differnt Use
- BitMex - best place for leverage trading of loads of coins
- CoinExchange - smaller coins but also big ones, loads of things to get early
- LiveCoin - has SBD and some cool coins not found anywhere else
- SimpleFX - anon forex with crypto and also BTC, NMC and other leveraged trades up to x500
Decentralized Will Never Close!
OpenLedger built on Bitshares will never close because its decentralized. It cannot close or steal funds. It has loads of pairs and also STEEM EOS SBD since its same faily as this very platform.
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It is strannge for me to see how little people know about DEX , the decentralized exchanges. Though the future belongs to DEX. Some boast their uncovenient and limited services today, while others continue the hard work in creating a better breed and still flying "under radar" (like blocknet) .
Everyone who wants not to miss the "next train" should keep an eye on them (DEX)
Interesting I have to put some time into investigating this further... What are the pros & cons compared to a "normal" crypto-exchange?
There is so much to answer to this - you could probably read day an night for half a year. One good place to read, with many links etc is this 3.5 year long thread:
https://bitcointalk.org/index.php?topic=829576.0
BLOCKNET is my favorite. ( As I see it as the best, superior to competitors)
But ... it is not the only one
Thank you for the great advice! This stuff is so fascinating!
Thanks for sharing your wisdom @onealfa!
I will check out the link you shared and try to read day and night for 6 months...
There is so much to learn about this subject, it doesn't get boring that is for sure...
If you have time please take a look at my first blogg-post here it is about crypto,
it would be nice to hear your feedback @onealfa!
Read here: Will (ETHOS) fix the financial system (and make you rich)?!
Pros:
Cons:
Con? to someone willing "to understand" this might be not a real CON
Ha ha "harder to understand" your funny, thanks for your explanation sounds like some real "next-level" stuff... =)
OK, Thanks 1-Alpha! I'm noting that all my 'exchanges' I've dealt with so far leave a lot to be desired.
Coinbase (blah, not really an 'exchange' at all!) and then Kraken, good tools and trading pairs, but still a centralized exchange... Poloniex is OK, needs a lot more trading pairs, but now they are insisting I step up my verifications, for tax purposes I'm sure LOL
I'm going to follow you (done!) as you are where I want to be in a year or less... My account is growing with leaps and bounds, plus my other stuff is blooming pretty good as well :)
Yes, it is odd that cryptonites push for decentralization, yet, eagerly trade on non-decentralized exchanges, without regard.
Ironically, I have a current post regarding the vital need to research exchanges before signing on, with this "top exchange" as a focus.
Peace.
@onealfa the main issue is to get to the cryptomarket. In South Africa we only have 2 to exchange from Fiat to crypto, making things very difficult.... For me this is the main barrier.... But I completely agree that decentralized is the THING!
For me buying BTC or ETH is difficult using credit/debit card as most exchanges don't offer this.Coinbase is not available in India.
Soon there's a new exchange platform where paying via PayPal is possible. Take a look a next.exchange https://next.exchange/
Nice article, lucky enough I think I have a registered account at binance, but I believe I had some issues there trying to make that site work properly, I guess I did not put enough time into it I know I should have...
This crypto world is so amazing but the learning curve is steep...
And what about these "the decentralized exchanges"???
From reading the article I am guessing OpenLedger is one, is it really safe and fully operational???
Decentralized.... and fully operstional. Take a look at IDEX.
And shapeshift is very expensive if you want to buy SNT, Aragon or Golem. It’s almost five dollars for transaction. It’s cheaper to get ETC
God bless you.
Just hodl it! Although You should not be greedy if we really want this to blossom into the Future of Money.
Hmmm if OpenLedger is decentralized - and has USD pairs that the site claims are backed 1 - 1 with real dollars, who is holding the cash?
Also, fiat w/d and deposits are currently disabled, so how are they trading in them? Are they Tethers and not dollars?
Those are bitUSD/bitEUR/bitCNY/bitBTC/bitGOLD/..., they are called Smart Coin in bitshares terminology. The collateral is decentralized. Every Bitshares user can lock some BTS as collateral to issue smart coins. No central point of failure.
More info here: https://bitshares.org/technology/price-stable-cryptocurrencies/
Currently Fiat deposit is closed, but you can deposit many other tokens, they will be guaranteed by openledger (so centralized). Then you can sell it for a smart coin to avoid the risk of default of openledger. You will then be able to go out through another gateway (rudex, cryptobridge, ...)
I'm trying to get an account of bittrex for 2 weeks now. It's too bad I didn't sign up to binance when I had the chance...
That really does suck about biannace as it's slightly cheaper than bitrrex and has a few more coins.
Bittrex is still very good however so I hope you get on soon!
So why does everyone prefer bittrex?
They allow you to trade many coins, they are relatively trustwothy, and they serve NY.
What makes you think that users prefer bittrex? Binance is seeing more volume and has halted new user registration.
https://coinmarketcap.com/currencies/bitcoin/#markets
Again, like the OpenLedger concept, but the WITHDRAWAL FEES for minnows are exhorbitant no? Try inserting 100 steem into OpenLedger, and then withdraw the same amount, they grab a HUGE fee. Can you account for this?
Uh what? Costs are very very low, and in the case of Steem, you pay 0 steem to withdraw, and about 0.20 usd gateway fees, its way cheaper than centralized exchanges
Edol, we are referring to the WITHDRAWAL FEE charged by OpenLedger when removing Steem from OpenLedger back to Steemit wallet. Yes, agreed, the STEEM fees are nothing, that's not the issue. We still have yet to find anyone fully explaining these OpenLedger withdrawal fees.
I'm glad I read it to the end because I was going to say "What about Openledger?" :)
I don't understand what's the benefit of having accounts on all exchanges?
good thing i took your advice and signed up a few days ago!!
OPEN THE DOORS! LEMME AT 'EM!!
Another reason to buy more BTS! And maybe KNC?
Wow - Thanks for sharing.
i guess this is only a temporary fix,
it is being uncontrolled tho bc newbies spoiling all the fun and promoting shit coins !!
I think I need to try open ledger. Looking for a new home due to etherdelta fees!
🗅
I am curious about this one is it like ether delta?
🗅
Yeah, I think 2018 will be a big year for bitshares!
Just like folks need to diversify their portfolios, they need to diversify which exchanges they have accounts with. Undoubtedly, exchanges will continue to evolve amidst changing regulation and user volume so having options to get in and out of transactions quickly is a must for anyone seriously pursuing this space. KuCoin for the win!
Nice post, Thanks for this update. Beautifully presented and explained. Upvoted!
plz check out my blog for latest posts and updats @kingjan
Always thanking @kingscrown for great Crypto News and Up to date info and what is Really Happening.....
Yes sir @stokjockey a lot of forward thinking here. I have said way too many times for how short of a time I have been on this platform, the steemit platform's handling of mass transactions is stellar in comparison to these other exchanges. I am very heavy on the upside of this platform, where it can be once the secret is let out about the specifics of this sophisticated platform.
It's only temporary though and I understand why exchanges would want to restrict access. They keep getting overwhelmed any time a coin crashes or surges. Both binance and liqui were on the fritz today due to Tron going to 20 cents. I doubt they will remain closed for long, but you know more about this stuff than me, so maybe not.
So Bittrex and Binance are currently no longer allowing any new users? Wow that's crazy, and if so can't be a good thing for a lot of alt coins since many of them are only listed on those 2 exchanges.
How does buying EOS work on the Bitshares platform work if I am U.S. investor? I thought they closed EOS for U.S. investors? Thanks @kingscrown
You can buy EOS on etherdelta.com decentralized exchange and there isn't much they could do to stop you. IF you do this make sure not to import your main wallet in their system (as doing this during their recent hack really screwed a lot of people over) and instead create a toss-away MEW and use that one to make your purchase. Also once done remember you have to register your EOS in your wallet before a certain date (this summer I think).
I'm not too well-versed about ether, but I do know as you mentioned that etherdelta got hacked. So due to safety reasons and my ignorance about ETH I'd rather not go that route. Is there any other way? Maybe through Bitshares and then send that EOS to MEW - after it's sent to MEW register on the EOS.io website with a vpn?
Here is a step by step guide on how to use Etherdelta I made a while back in case your interested.
https://steemit.com/cryptocurrency/@budz82/step-by-step-instructions-of-how-to-buy-or-sell-erc20-cryptos-using-the-etherdelta-decentralilzed-exchange
If you create a toss-away MEW wallet, link/import that to etherdelta, buy your coins and then move them from your toss-away MEW wallet over to your main MEW wallet, the risk overall is extremely low of you having any issues/losses and your main wallet would remain 100% safe. I personally haven't used Bitshares so I can't speak much about that part. As for registering EOS check out the video https://www.youtube.com/watch?v=-yBhXG6ig3M which goes over all the needed steps (the guy is a US citizen so whatever he does should work the same for you).
Sidenote: I am Canadian and personally got my EOS from Kraken without issue, but I am not sure if US citizens can use that exchange or not (its UK based).
Bitshares is hella fast too!!
bts is a related platform to STEEM. Same tech, I have both but need to delve into BTS more. Plus, buy some coin on that platform, which should go up faster than the BTS itself. All good investments at this time, it's still WAY Early for these!
Super cool info, I'm super new to this so I found this very helpful, thanks
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what a pain. signed up on KuCoin yesterday! I like it so far.
Excalty, Kucoin is the next big exchange platform and people should start creating their account over there as soon as possible!
I should start using Bitshares.
very sad...
Those exchanges are really really popular right now. I think they'll open for new users again as it's their business. It's hard to deal with those large volumes of users. Thanks for posting!
I really liked your article. I'm going to follow you because I like the Bitcoins theme. When you have some time I invite you to read my latest publication
@kingscrown yup it was down trending now and many ppls lost there hard earning amount but for government ppls have to pay #TaX from there profit amount but what about the ppls who lost there amount in #crptocurrency..
Follow and checking always the good idea!
Thanks for the info
Dang! that was quick... better hurry over to KuCoin before the doors are also closed there.... looks like all the FOMOs are finally getting their foot in the door
@kingscrown thanks for sharing, much appreciated!!
good post thank you
Thanks for the tips. Got Binance registered earlier this week. Going to check out OpenLedger since everyone seems to think EtherDelta is getting sketchier by the day.
Awesome information. Thanks for sharing.
I'm taking notes from now on... thanks!
What do you think of Idex.market?
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Yea , thanks a lot for update, already registered on binance , I guess still need to register on kucoin . It is better to know in time before it is too late :)
I'm sorry to know this. I just watched a couple of binanace tutorials on YouTube yesterday and was looking forward to sign up today. I guess I'll go with the other ones you suggested. Thanks for sharing.
I think that some project need investment, but heavy selected projects which aren't scam.
Thank you for this post, it is very helpful, as I have come across this problem too! Thanks for pointing out alternatives :)