I have started with coinbase and coinbase pro. The nice thing with coinbase that I can put away a set amount in BTC every Friday. But that was not enough - coinbase is rather limited so I opened an account at Kraken and Binance.us as well. I can keep some FIAT money in Yen at Kraken and as for trading, Kraken is the better choice (this is only my opinion). I can even play on the weekends...
Newbie in the cryptoworld
- Thread starter TimtheEnchanter
- Start date
Hehe, sorry Tim, but reading the title, and post, this thought came immediately to mind. I don't know why.
Good luck in there!
Just opened an account @ Coinbase and was about to place a small test trade when I noticed the fee is 9.9% ??????
I think my Binance fee is 0.1% with a limit order. Not sure that's completely accurate but I'm certain it's not near 10% like Coinbase.
Bitcoin (cryptos) markets/trading is open 24/7 which can be a double-edged sword due to the risk of overtrading. I've transferred coins at literally 3AM Sunday when it's very difficult to think straight.
Funny thing about "cryptos time" is once you get used to it, you wonder why everyone else operates on business hours/days. I pay my online VPS provider at midnight and it's immediately gone from my bitcoin wallet and credited on my account. I don't have to check my credit card in a few days and pay the balance which takes another couple of days to be removed from my bank account.
Binance (non-US), Huobi, Kucoin operate 24/7 but Coinbase and BlockFi and probably other US outfits operate on the traditional US business hours/days
fuck the while stock market is a "BUBBLE", ride it while you can, then ride it when it goes down.
Coinbase is more for long term trading and Binance can be used for daytrading to long term holding. Coinbaseis .1% and Binance is .01%, which is a huge difference, and if you find out the fees are draining your account then you are trading too much
At Kraken, I can keep money in Yen (which I do). Coinbase I am auto-buying bitcoin every Friday, I bought around 17,500 and sold at 40,000, scalping in and out, now I only have a token amount but keep buying. Dollar-cost averaging is your friend, in stocks as well as in BTC.