Back to Basics: How to buy altcoins (New Kraken rating)

/u/brianddk on I need some advice. I have 100 per month to invest.

Seems like obvious advice but so many people loose site of it.
Pay the lowest fee possible
Seriously that's my advice. If you ever work with compound interest you will know what I mean. Imagine two people buying crypto every week for 20 years (Alice and Bob). Bob is focused on getting "todays price" and is willing to pay the 1.50% fee for "instant buy" from his exchange. Alice uses the cheapest way to deposit money into the exchange and uses the cheapest exchange. This means she has to wait 2-3 weeks from when she deposits to when she buys. Most people caught in FOMO-fever will thing that Bob would win, but it isn't the case. Alice will have many many times as much money as Bob, all based on that small 1.50% savings compounded as the opportunity cost between them.
Just open excel and run the numbers before you just assume that Bob or Alice will win. There are different times to use either strategy. Bob does actually win in periods of 10x growth, the the lifetime APR of bitcoin from 0.000994 USD/BTC to 9500 USD/BTC is actually about 5x not 10x.
Lowest fees on market right now is Coinbase Pro at 0.15% and Kraken at 0.16%
brianddk
submitted by highhighhopes101 to TalkativePeople [link] [comments]

Theories for withdrawal delays

Thought I'd move this post to a new thread.
Many of us have been waiting on our withdrawals forever and Quadriga's ETA's come and go. But here's a few things we know for sure:
A couple theories make sense:
#1 - Bank blockade (the reason Quad gave):
Quad’s Cdn banks are blocking them from sending funds to FinConnect. This is consistent with RBC & CIBC closing Quad's accounts with their old processor (Billerfy) early this year (link) right around when the issue began. This is also the story Quad gave to the press in April. Perhaps these banks are targeting only Quad (at least for now) as it was the largest Cdn crypto exchange/wallet until recently.
Kraken uses US/Japan banks which are more supportive and so they don’t have this issue. Quad mentioned they are switching to more supportive foreign banks, which takes time to find/setup/test, adding to our delays.
What doesn't make sense with this whole theory is how Quad has been selectively sending funds to some of its users.
#2 - Liquidity issues
The severe crypto bear market has caused people to flee out of crypto in large numbers, which may be giving Quad liquidity problems. Even Quad’s twitter account retweeted this article “40% of Ontario Crypto investors have sold.”
While this could be a reason why Quad has not updated their withdrawal times on their website, one thing doesn't make sense: The withdrawal issue started in Jan when the crypto market (and likely Quad's liquidity) was strong. Also keep in mind that Quad has been around since 2014 and they've survived years of very low trading volume.
# 3 – Earning interest to recoup past loss
Someone in the other thread mentioned that Quad suffered a $14M loss in Jun 2017 (link). Back then, Quad stressed that this loss did not impact its solvency or ability to function. This is consistent with the revenue Quad generates from charging 0.5% in trading fees.
At current volumes (link), Quad is making almost $1M/month. Volumes were much higher in 2017 (especially in Q4). Quad mentioned volumes became 20x normal in Dec/Jan (link) so one of these months alone could have covered the loss. It’s less likely to think that Quad is deliberately holding our funds to earn interest, because this revenue would be likely <10% of it’s trading revenue.
---
It’s tough to know what’s going on but I would lean towards #1. But there are so many mixed signals I’m getting.
Positives: It appears everyone who had issues from Jan-Apr got their funds, Quad has been adding payment options, and are regularly responding to a large volume of emails and providing updates on social media.
Negatives: Quad’s location is unknown (they moved to Toronto apparently), they keep giving false ETA’s week after week, and they haven’t updated their withdrawal page to alert users of the issues (this alone would have helped me avoid this mess).
Would like to hear what others are thinking.
submitted by crashcow51 to QuadrigaCX [link] [comments]

Beginner's Guide to Exchanges - Part 2

Beginner’s Guide to Exchanges – Part 2

A little late, but as promised here is Part 2 of the Beginner’s Guide to Exchanges. I would like to sincerely thank everyone for their support and feedback in making these.
Link to Part 1
This time I also made a Google Docs survey in the hopes of sharing the results with the community. I thought we could share what we use as a whole and why redditors choose the exchanges they do. For skeptics (as you all should be), I assure you that I am not collecting personal information. This is for recreation and if you are still wary, then by all means abstain!
Link to Survey
In Part 3 I will be wrapping up this series by covering decentralized, semi-decentralized, and derivative exchanges. Here it goes!

00 – Concepts and Definitions (Continued)

04 – Fiat Exchanges – Canada

QuadrigaCX

Country Linked Bank Transfer Wire Transfer Paypal Credit/Debit Crypto Transfer
CAD Deposit 1%/ Withdraw Free Free Free (Withdraw Only) 1% (Withdraw Only) Free
USD - Free Free (Withdraw Only) - Free
Exchange Type Maker Taker
Fiat .5% .5%
BTC/ETH .2% .2%
Feature Details
2FA Google Authenticator or Email 2FA Available
Wallet Security Undisclosed amount of funds in cold storage
Web Security 3rd Party Security provided by CloudFlare
Bug Bounty Expired $50 bounties
Tier Level Name Email DOB Phone Address Official ID Bank Info Credit Score Limits
Basic Account X X Digital only, Limits Vary
Verified Account X X X X X X Limits Vary

05 – Fiat Exchanges – Europe

CEX.IO

Country Credit/Debit Bank Transfer Crypto Transfer
Europe 3.5%+ €0.24 Deposit €0 / Withdraw €25 (SEPA €10) Free
Russia 5% + ₽ 15.57 - -
UK 3.5%+ £0.20 Deposit £0 / Withdraw £20 (SEPA Free
US 3.5%+ $0.25 Deposit $0 / Withdraw $50 Deposit $0 / Withdraw 1%
Exchange Type Maker Taker
All Currencies 0% .20%
Feature Details
2FA Google Authenticator Available
Wallet Security Undisclosed amount of funds in cold storage
Credit Card Data Overseen by 3rd Party Kyte Consultants
Web Security SSL Certificates and Encrypted Personal Data
Tier Level Name Email DOB Phone Address ID + Photo Bank Info KYC Limits
Basic Account X X X Digital only
Verified Account X X X X X X $10,000 Daily/$100,000 Monthly

BTC-E / XBTC-E

Country Credit/Debit Bank Transfer Paypal
Europe - SEPA - Deposit .5% / Withdraw 1% (€100 min) -
Russia 6% 6% -
US 7% Deposit .5% ($20 min) / Withdraw 1% ($100 min) 7%
Exchange Type Maker Taker
All Currencies .20% .20%
Feature Details
2FA Google Authenticator Available
Password Expiration Must be changed every 6 months
DDoS Protection 3rd Party Security Services provided by CloudFlare
Bug Bounty Yes at xBTCe
Tier Level Name Email DOB Phone Address Official ID Bank Info KYC Limits
Verified User X X X X X No Stated Limits

Liqui.io

Exchange Type Maker Taker
All Digital Currencies 0.1% .25%
Feature Details
2FA Google Authenticator Available
Bug Bounty Reported bounty posted on HackerOne (unconfirmed)

06 – Fiat Exchanges – South Korea

안녕하세요 여러분! 혹시 우리 한국인 친구 이 보고서를 한국어로 읽고 싶어한다면 알려주세요. 관심이 많이 있다면 간단한 한국어 보고서도 만들 수 있습니다. This year, ETH has taken off like a rocket in the Land of the Morning Calm. With a population of just 50 million, South Koreans account for almost 30% of daily ETH trade volume. Even more surprising is that currently the daily volume of ETH is about 5 times higher than that of Bitcoin on Korean exchanges. Since demand is high, ETH is trading at a premium on Korean exchanges. Some users have been talking about capitalizing off this imbalance by trading on arbitrage between exchanges. For those who have no connection to Korea and hope to do so, I have bad news – all Korean exchanges require a National ID number and access to a Korean bank account. This makes Korean exchanges virtually closed to Korean nationals and those with long-term visas. Sorry everyone.

Bithumb

Coinone

Korbit

07 – Fiat Exchanges – China

With a great deal of anticipation, major Chinese exchanges started trading ETH this summer. Since these exchanges deal huge volumes of Bitcoin already, naturally it was expected that they invest heavily into ETH as well. So far this hasn’t quite lived up to the hype with many exchanges still favoring Bitcoin, Litecoin, Altcoins, and even Ethereum Classic (Gulp). Three of these exchanges underwent inspections by the Peoples Bank of China earlier this year and will be working closely with the government to ease fears of money laundering and market manipulation. There are a lot of Chinese sites, and since my Chinese is non-existent this list is basically just for name recognition. In many ways these sites are very similar in regards to security, verification, and fees compared to their western counterparts; just marketed at a different audience and currency. If users are seriously interested in these exchanges and making reviews, please contribute or ask!

OK Coin

Huobi

CH-BTC

Yunbi

08 – Coinswaps & Cryto-converters

ShapeShift

Changelly

submitted by poop_dragon to ethtrader [link] [comments]

Bitcoin 2017 a Comprehensive Timeline

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submitted by BitcoinChronicler to btc [link] [comments]

Two Crypto Exchanges Paid High Ethererum Fees to Ensure Quick Withdrawals How to use Kraken: Tutorial BEST CRYPTO EXCHANGE? Coinbase Pro Vs. Kraken What Crypto Trading Fees CryptoHopper and Cryptocurrency Exchanges Binance Coinbase Kraken Charge How to Buy Bitcoin in 2020  Kraken Tutorial for Beginners

The company shared its revised fees in its latest blog post and said that this new model will reward market makers for providing liquidity to the bitcoin exchange market. The maker fee applies when a user adds liquidity to the Kraken order book by placing a limit buy below market price or a limit sell above market price. Fees and limits Platform trading fees. Kraken’s comprehensive trading fee structure varies depending on trade volume, and what kind of trade it is. Fees vary for stablecoins, dark pool trades and margin trading, so it’s worth checking Kraken’s site for the latest break down. The fees below are accurate as of August 7, 2019. Trading fees Kraken is the most democratic platform of three. It has relatively low fees. There are some negative reports online. It means that the support team is not fast enough but obviously the platform keeps on doing its job. Gemini and Coinbase are targeted at institutional and active traders. They charge higher fees but provide better security in return. An ex-employee is suing cryptocurrency exchange Kraken, the world’s largest bitcoin exchange in euro volume and liquidity. Jonathan Silverman, who was previously employed by the company’s trading desk in New York claims he is still owed a commission on USD 19 million profits accrued over three months in 2017. The system allows fees to be calculated based on the trade’s base currency. Furthermore, fees are also charged on a per-trade basis. To learn more about Kraken’s pricing, visit the following link. Final Thoughts. As one of the best Bitcoin exchanges, Kraken is designed for serious and professional cryptocurrencies traders.

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Two Crypto Exchanges Paid High Ethererum Fees to Ensure Quick Withdrawals

Learn how to buy bitcoin in 2020. This video is a Kraken (online bitcoin exchange) tutorial for beginners which makes buying bitcoin made easy. This is the BEST way to buy bitcoin in 2020! Where I ... Life Before the Last Halving: A Free Kraken Webinar w/ Dan Held & Special Guests - Duration: 1:30:10. Kraken Bitcoin Exchange 1,334 views Kraken Fees & Cryptowatch tutorial - Duration: 9:40. Future Asset Management 52,843 views. ... How To Use Kraken - Bitcoin Trading Exchange - Duration: 5:19. SuperHands 75,638 views. 11:20 Exchange Fees 13:47 Account Opening Tips 15:06 Coinbase Pro Training Functionality 16:52 Kraken Trading Functionality ... #coinbase #kraken #bitcoin #btc #trading #exchnage. Loading... Coinbase and Kraken, however, appeared to be actively predicting gas costs in real time and adjusting fees based on changes of user activity on the Ethereum network.

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