Ask HN: Where do you go to trade your cryptocurrencies? • Hacker News Board

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

#31

Post by ericb » Wed, Aug 30, 2017, 2:49 PM UTC

geoah wrote: post #29

Comments are off the top of my head when last used, not very scientific, just markets I've used lately. * gdax.com - coinbase's exchange - only btc/eth/ltc, easy to buy with CC, high fees, high traffic * etherdelta.github.io - only erc20 tokens, contract based, low fees, very bad ux, low traffic * kraken.com - quite a few alt coins and tokens, insanely slow support, bad ux, average to high fees, average traffic * hib…

Questions on your list (which is appreciated) if anyone can fill these in:

-Which have (legal) US compliance?

-Which have options/futures or other contracts?

-Which have red flags (holds on withdrawls for mysterious reasons, like Poloniex, for example)

-Which have security red flags?

-Which have actual support help?

-What countries are they based in?

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

#32

Post by lightbyte » Wed, Aug 30, 2017, 2:53 PM UTC

bpicolo wrote: post #12

banderman wrote: post #10

Earlier quoted context omitted.

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

As far as I can tell they do not have a BitLicense, they just applied for one. The wikipedia page you linked even includes the 3 companies who have been granted one so far, and none are Bittrex.

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

#33

Post by srrge » Wed, Aug 30, 2017, 2:57 PM UTC

I traded on Poloniex once but they stopped withdrawal on Monero and would not answer. Finally they processed the withdrawal like a week a later. I am not using this platform anymore.

Currently I am using Bitfinex and it's working pretty well!

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

#34

Post by mercer » Wed, Aug 30, 2017, 3:38 PM UTC

RationPhantoms wrote: post #19

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.

What red flags have you heard about concerning Poloniex?

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

#35

Post by davemontorio » Wed, Aug 30, 2017, 3:59 PM UTC

lsseckman wrote: post #26

davemontorio wrote: post #20

Earlier quoted context omitted.

This is very interesting. Does it work? How much do you invest to have a (positive) return?

oh, the script just executes a buying strategy that avoids short term fluctuations. It's not a profit-making strategy.

Ah ok, thanks a lot for the explanation!

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

#36

Post by triceratop » Wed, Aug 30, 2017, 4:47 PM UTC

I usually use SFOX (sfox.com) since they let me trade on multiple exchanges at the same time and I'm big on arbitrage (I have scripts to do it for me). Not sure why they're not more popular. Most UIs on exchanges are utter shit so at least SFOX's is decent.

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

#37

Post by bpicolo » Wed, Aug 30, 2017, 5:04 PM UTC

lightbyte wrote: post #32

bpicolo wrote: post #12

Earlier quoted context omitted.

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

As far as I can tell they do not have a BitLicense, they just applied for one. The wikipedia page you linked even includes the 3 companies who have been granted one so far, and none are Bittrex.

Hmmm you're right. Interesting

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

#38

Post by mus1cfl0w » Wed, Aug 30, 2017, 5:29 PM UTC

dmos62 wrote: post #21

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

They are having serious capacity issues at the moment. Recently they have disabled creation of advanced orders. That was the last straw for me. Their UIs have been slow and clunky for as long as I've been using them (2 months). Opening a margin position is sometimes a problem, because their margin pool is empty, and there is no way to know that until you try to open a position, so you end up spending time manually br…

I think not being hacked is a major plus in the space of crypto currencies. Which exchange (with a solid API, US law compliant) would you suggest instead?

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

#39

Post by hedgedoops2 » Wed, Aug 30, 2017, 9:08 PM UTC

shapeshift.io - I used to use this a lot. It doesn't hold your crypto for more than a minute.

bitmex.com - (futures exchange) - This is a gem. They're extremely professional. Every feature seems throughly considered, e.g. margin positions are valued based on global indices, not the local princes, to prevent flash crashes. The API is the most feature complete I've seen. One thing that bothers me is that Bitmex seems to have a conflict of interest, since they run a trading bot ('anchor market maker') on their own platform.

etherdelta.github.io - (ICO tokens only) - This was designed so that the exchange owner never controls your tokens, an Ethereum contract does. You decide whether this reassures or frightens you. It supports all tokens which is probably the main reason I used it (besides being a cool proof of concept). The in-browser UI is pretty bad.

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

#40

Post by dekz » Wed, Aug 30, 2017, 10:12 PM UTC

startswithaj wrote: post #24

dekz wrote: post #9

We are working on a platform for exchanging Ethereum (ERC20 tokens) at Ethdex. Exchange happens atomically and on chain. No counter party risk, unlike exchanges such as Bittrex. We aren't rent-seeking or forcing you to use a token. http://ethdex.io https://github.com/Ethdex/contracts

So how does this differ from Ox?

We have a FAQ[1] which is being fleshed out but take a look if it helps.

We are 100% non-rent seeking.

In Ethdex we incentivise Trading platforms by allowing fees to be charged in Eth, the natural currency of Ethereum. Not by creating a token and forcing its utility (ala ZRX and 0x).

We also support Multi-Relay, which is something 0x does not support. As a maker you can submit your order to every trading platform, every slack channel and every subreddit. Other platforms cannot do this.

We also don't have any obligations to VC's to ensure they make profit.

[1]: http://ethdex.io/faq