Crypto Exchanges?

howiegrapek

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Sep 25, 2017
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Hey gang.

So, I've been mining for a while, getting Ethereum into my wallet and moving that to different exchanges to day trade with different alt-coins. Pretty easy and profitable so far. I've been using HitBTC for the last few weeks and have had good luck, but find the interface challenging/frustrating at times.

I have also been using Binance and really like that one - it is very intuitive and easy to navigate through it. Plus, they have coins which are not traded in HitBTC (like stellar coin.

I wanted to try other exchanges like BitTrex, Kraken and Poloniex, but getting accounts are difficult (not accepting new), plus Kraken was offline for two full days this month so I'm shying away for now.

I've read about Robinhood and they will be doing eth and btc starting feb 1 with free trades forever. That is looking promising moving into the future, but not yet. Only two coins starting next week, plus not available in Florida yet. We'll see how that one goes.

So,
a) what are your thoughts about different exchanges. Positives, negatives, etc.
b) Which ones are you using and in what capacity.
c) if you do want to try binance, go ahead - signup is easy, quick, and they use 2FA very well.

Please use my referral code to sign up -no cost to you, and as I get referrals, I'll pass along some coinage to Pete/Mike. After all, it is their fault for my newest obsession ;)

https://www.binance.com/?ref=25287978


Smiles and happy mining.
Howie
 

Korishan

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First off, being in the US, crypto-currency exchanging has been placed on the taxable income. Each time you do an exchange, you're supposed to record the amount that was exchanged and make note of the taxes.
Mike and I are not doing exchanging for this reason, currently. The taxes haven't become fully clear as to what's what and how it effects everything.

I suppose as long as there is 100% anonymity of the transaction, you may be clear. But, it's still traced via wallet address.

Something to keep in mind for doing day trading :s
 

LithiumSolar

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Korishan said:
First off, being in the US, crypto-currency exchanging has been placed on the taxable income. Each time you do an exchange, you're supposed to record the amount that was exchanged and make note of the taxes.

This. I am not exchanging mine to USD or any other cryptocurrency. If you do, I'd advise finding a CPA and letting them handle the paperwork.
 

Korishan

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I do wonder though, the hubs that auto transfer from what-ever coin to BTC or Litecoin, or what not, is that included as well? On NiceHash, you don't have control really of what coin is mined at any given time.
Like, right now, NH shows I have:
NeoScrypt
Lyra2REv2
DaggerHashimoto
CryptoNight
Equihash
as having ran those scripts. But it doesn't tell you really how many coins have been mined with each of those methods. Each mined coin gets converted to BTC by the pool.

So, how does that work?!? :huh:
 

hbpowerwall

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my head hurts
 

hbpowerwall

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i'll buy them from you with amazon magic cards lol
 

howiegrapek

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Sep 25, 2017
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59
mike said:
hbpowerwall said:
my head hurts

Now you see why I'm afraid to touch my coins ;)

I dont' blame you! My head hurts too - omg! This is too funny.

So, back to exchanges and trading. I am at a loss today!
So, i see that prices are dropping like crazy, so, silly me, decided to try to purchase starbase tokens. currently trading at around $0.09 each. I had about $20.00 USD worth of Eth in my account to trade and I have a BitHBC account who has STAR, so though, let me try to grab some at very low prices and see what happens. One way or another, I wound up with around 2 tokens in total. I have absolutely no idea how that happened - I don't think I purchased incorrectly (but I must have)... or there is some HUGE fee for purchasing them. I'm still trying to figure that one out.

Either way, I started to look at the HitBTC transaction fees ... yikes! Stick with Binance - they are at least 1/2 the price of BitHTC for the same coin selling transaction fees. In some cases, 1/10th the price.

I think I will stick with the native coins which I'm mining directly into my wallets and HODL.

As for taxable events, ya, i shutter to think about it. More as I learn more.

Here is my referral code for binance.com: https://www.binance.com/?ref=25287978
If you sign up using my code (free to you), I'll pass some coinage back to the "second life" folks - Mike and Pete.

Cheers. H
Cheers.
 

howiegrapek

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Joined
Sep 25, 2017
Messages
59
howiegrapek said:
mike said:
hbpowerwall said:
my head hurts

Now you see why I'm afraid to touch my coins ;)

I dont' blame you! My head hurts too - omg! This is too funny.

So, back to exchanges and trading. I am at a loss today!
So, i see that prices are dropping like crazy, so, silly me, decided to try to purchase starbase tokens. currently trading at around $0.09 each. I had about $20.00 USD worth of Eth in my account to trade and I have a BitHBC account who has STAR, so though, let me try to grab some at very low prices and see what happens. One way or another, I wound up with around 2 tokens in total. I have absolutely no idea how that happened - I don't think I purchased incorrectly (but I must have)... or there is some HUGE fee for purchasing them. I'm still trying to figure that one out.

Either way, I started to look at the HitBTC transaction fees ... yikes! Stick with Binance - they are at least 1/2 the price of BitHTC for the same coin selling transaction fees. In some cases, 1/10th the price.

I think I will stick with the native coins which I'm mining directly into my wallets and HODL.

As for taxable events, ya, i shutter to think about it. More as I learn more.

Here is my referral code for binance.com: https://www.binance.com/?ref=25287978
If you sign up using my code (free to you), I'll pass some coinage back to the "second life" folks - Mike and Pete.

Cheers. H
Cheers.

Well, I'm not an idiot like I thought I was. doing more research, I found this :
From some bitcointalk forums:

Starbase is now listed on HitBTC. Why the minimum price for STAR tokens in the HitBTC exchange are set at 0.01 ETH i think this is too high a price for traders should be a choice to set their own price for STAR tokens so that they can choose at what price to buy STAR tokens.

Answer was: for a token that had its ico 7 months back the value of the coin raised should be at that level. If not for the coinmarketcap value it is written in some sites to be 1 star=8$. I believe with additional exchanges the value will increase



So, not an idiot, thoght I'd get it at trading prices, but it got purchased at 0.01 eth, - Cool beans up 65% already this am (to a whopping $0.13 USD)

So, one token in my exchange - wow, lots of money to be made :) So it goes - long hold.
I believe in this one as it is being backed by all future space travel like spacex and others.


Cheers.
 

unindexed

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Dec 28, 2018
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You can try exchangers in telegram (bots), they're easy to use and always handy, I use them a lot
 

adamspike

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Apr 15, 2021
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You can try exchangers in telegram (bots), they're easy to use and always handy, I use them a lot
Yeah, fr bro, bots in telegram are just easy, and there's kind of like no stress. It's kinda easy for me, although some people prefer to do these kinds of stuff by themselves. So basically, Telegram trading bots are like chatbots that are programmed to communicate digitally with a trading website and can bring outcomes in terms of profit to a trader. So they are pretty much automated. And they don't even require you to install any other third-party applications. When you're invested in this, you want to try to get knowledge from every corner. recently engaged myself in https://cryptoinformator.com/ also. You know we have to be aware of all these things.
 
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