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Ask HN: Where do you go to trade your cryptocurrencies?

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Re: Ask HN: Where do you go to trade your cryptocurrencies?

#11

Post by serg_chernata »

dest wrote: post #3

Ask HN expansion: It would be good to know as well the degree of KYC enforced by each of them (KYC = know your customer)

Almost all exchanges have tiered KYC. Almost all allow you to deposit any amount but limit withdrawal. Thus, this is largely dependent on how much information you're willing to share and how much money you want to be able to move within 1 day. Basic KYC is typically name and address, while highest tiers require passports.

Re: Ask HN: Where do you go to trade your cryptocurrencies?

#12

Post by bpicolo »

banderman wrote: post #10
bouchardm wrote: post #2

Bittrex: lots of cryptocurrencies, fast, simple and I didn't had problems with them to this day.

They claim to be operating out of the US, and the address listed is a half empty strip mall in the Las Vegas suburbs. They post no licensing details. Seems legit?

They managed to get a BitLicense (one of very few orgs to do so) which at least somewhat lends to legitimacy. Also pretty easy to find the people involved, and a founding team of infosec people is a pretty decent means to start an exchange. https://bittrex.com/home/about

https://en.wikipedia.org/wiki/BitLicense

Re: Ask HN: Where do you go to trade your cryptocurrencies?

#14

Post by bpicolo »

mason55 wrote: post #6

I'm looking for recommendations for those in New York State. Everything seems to be blocked here.

Coinbase/Bittrex are licensed to sell/trade cryptocurrency in NY. If you want to put just a little bit of money in and trade on altcoins, have to buy BTC/LTC/ETH on coinbase and move it to bittrex. Minimum wire transfer to bittrex is 10k atm.

I'm not aware of any other exchanges that can trade in NY right now

Re: Ask HN: Where do you go to trade your cryptocurrencies?

#17

Post by RationPhantoms »

mason55 wrote: post #6

I'm looking for recommendations for those in New York State. Everything seems to be blocked here.

Hey Mason, I can personally vouch for Gemini (being in NY myself). They allow for immediate trading of your ACH deposits, before the money has cleared, which I think is a massive boon to cc-traders.

I haven't had any availability issues with their backend (i.e Coinbase) and their support staff seems responsive to the fact that the trading GUI needs an overhaul (2 separate pages for buying and selling ETH).

Re: Ask HN: Where do you go to trade your cryptocurrencies?

#18

Post by RationPhantoms »

mus1cfl0w wrote: post #7

Kraken is one of the safest choices IMHO. I automated my trading via a script: https://github.com/elsesiy/crypto-trader

For those reading this, Kraken does not (and has no intention too), of buying the NY BitLicense. I had to close my account with them as my address was registered in NY.

Re: Ask HN: Where do you go to trade your cryptocurrencies?

#19

Post by RationPhantoms »

I personally use Gemini for primarily trading Ethereum but dabble with Bittrex and Poloniex (got an account pre-BitLicense).

Poloniex, I don't trust with the majority of my funds for various red-flags that the community has presented and Bittrex doesn't seem to have any retail presence (other than being in an abandoned strip mall in LV).

Gemini is founded by the Winklevi twins.

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