I'm not new to cryptos and not new to trading either. I've been using several platforms, but I landed at my two favorites and if it goes on this way, I'll stay with these.
Etoro
Etoro is not a platform, which people have in mind when trading cryptos. Etoro is an old-school trading platform in the sense of cryptos. It only supports the "big" coins.
But there is a slight advantage using etoro at the beginning. You don't need to set up a wallet and you can deposit with multiple methods (paypal, skrill, card, etc.).
On Etoro you have the possibility to learn how to trade by following more experienced traders and see how they do it. When they open or closed positions and you can get into discussions with them asking why they did it.
And even further, you can copy someone, whose trading style is favorable for you. In this case, you get to open and close positions automagically. If the guy you copy makes money, you do the same.
Binance
One step further. Binance is a more advanced platform compared to Etoro. It doesn't have the social features, the following and copying part. But it lists way more cryptocurrencies. So if you are into crypto (why else would you be here at steem? :)), binance is a good place to be at.
Registration used to be closed, but they just reopened it this morning.
Binance lists almost every crypto. I have an account at Bittrex, Poloniex, etc, but Binance is way better, not to mention it has a very clean Android app, so I can use it on my phone. Other crypto only trading platforms don't have this extra.
On Binance you have to decide what is your base currency. BNB, BTC, ETH or USD.
The most pairs and the most common base currency is BTC, but using Binance's BNB, you get better rates. So it's up to you to decide which way to trade.
Which platforms do you use? Why did you decide so?
Being a Washington State Resident the only real option I have is Bittrex. Would love to check out other platforms.
Bittrex isn't bad, I use it, too. My biggest problem with bittrex is, that it is useless on smartphones. Binance has a great mobile app, which makes it easy to access. Can't you use etoro?
Great article that I saw on Kryptonia.io.
That's another great platform. ;)
Binance is great
Yes it is. Glad you like it, too. :)
i am new to crypto and have tried to open a binance account several times. i was completely unaware it had reopened until i read your article.
thank you :)
It just reopened today morning. You're welcome.
They've recently reopened limited registration. If its not open when you try to sign up just come back later until you catch the window. https://support.binance.com/hc/en-us/articles/115003834812-Binance-Re-opens-Limited-User-Registrations-and-Adjusts-Referral-Program-Terms
I only recently signed up for Binance to give trading with BNB a shot.
What are your experiences with BNB? I'm still using BTC pairs for trading. :)
None so far =P I only signed up when I saw registration was open and haven't done any trading on the exchange yet.
OK. :)
Gotta check this out right now, thanks
Do so, let me know if I can help you further.
Good information.
Glad you like it.
nice article, thanks for the info
thanks, I hope it's useful.
great post, pick up on my wall...
Thanks.
I've tried a few of the copying sites, like Zulutrade but without much luck. How have you found Etoro? Mostly I seemed to find risky traders opening 100s of positions simultaneously.
As for Binance, super simple and easy to use, definitely put a few dollars into BNB coin as it reduces your fees when you exchange. I think I put $10 dollars in a few months ago and because the coins value has gone up so much, I will probably never spend them all during exchanges.
On Etoro I have 2 people I copy not just follow. One is more into crypto trading, the other one focuses on GBP/USD pairs. They are both focused and make good returns.
On Binance I'm still using BTC for trading, but since you are not the first who mentions, I'll get some BNB coins. :) Thanks.
I'll have another look at Etoro then, thanks for the heads up.
you're welcome. :)
i need to look into this, cheers
Do so, it's an interesting world. :)