Investing

Best exchange for crypto?

  • Last Updated:
  • Jan 10th, 2018 2:17 pm
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Newbie
Dec 17, 2007
85 posts
2 upvotes
Toronto

Best exchange for crypto?

Currently with coinsquare which is good but seems limited with number of alt coins. Kraken seems unable to verify and therefore can't use. What exchanges are other people using?
16 replies
Sr. Member
User avatar
Apr 22, 2014
552 posts
279 upvotes
Edmonton, AB
Another thread on crypto? Why?
Newbie
Dec 17, 2007
85 posts
2 upvotes
Toronto
Couldn't find a specific answer on this - everything else was more general.
Member
User avatar
Feb 27, 2013
275 posts
368 upvotes
Calgary
mr jbb wrote: Currently with coinsquare which is good but seems limited with number of alt coins. Kraken seems unable to verify and therefore can't use. What exchanges are other people using?
Coinsquare is rumoured to be adding Monero, Dash and Ripple in the near future, which is great news, still their fees are higher than the competition. As you found with Kraken, they're not verifying right now, even if they were I would avoid them because of their constant server issues.

For us Canadians I still believe QuadrigaCX is the best method of entry, note they only trade BTC, ETH and LTC at this point (also rumoured to expand to other alt coins), but from a fees and market liquidity POV they're still the best for Canadians. Once you have BTC or ETH from QuadrigaCX it's super easy to transfer them to a larger exchange, one of my favourites is Binance, they have a great flat trading fee structure of 0.1% and usually hover in the top 3 exchanges for liquidity. Second I would probably recommend Bittrex, a bit more expensive than Binance but again they hover in the top 3 for liquidity. Between Binance and Bittrex you should be able to purchase the vast majority of AltCoins worth getting into right now, for more speculative coins you're usually looking at Poloniex, HitBTC and YoBit, I probably wouldn't recommend unless you have a really strong basis for getting into those kinds of coins.

For the long-term: Once you have your coins and you're not actively holding, transfer them to their respective wallets, when its time to sell, transfer them back to the exchange and convert the proceeds to something trading on QuadrigaCX. Transfer to QuadriagaCX, sell, withdraw CAD. If I can send you a referral link for QuadrigaCX and/or Binance let me know (Bittrex doesn't have a referral program right now).

Cheers,
~Let your actions reflect your desires
Sr. Member
User avatar
Apr 22, 2014
552 posts
279 upvotes
Edmonton, AB
mr jbb wrote: Couldn't find a specific answer on this - everything else was more general.
This exact question has been asked literally hundreds of times in the other threads.
Deal Fanatic
User avatar
Jan 4, 2011
5820 posts
3846 upvotes
West Vancouver
Right now they are all shit.

They will ask your driver's licence, pictures etc. Some even ask for passport scan... its pretty sad.
Deal Addict
Jun 20, 2011
2095 posts
1083 upvotes
VANCOUVER
Quadrigacx took 11 days to verify my identity
Member
User avatar
Feb 27, 2013
275 posts
368 upvotes
Calgary
Coz4k wrote: Right now they are all shit.

They will ask your driver's licence, pictures etc. Some even ask for passport scan... its pretty sad.
That's pretty standard and it's not going away anytime soon. To open a chequings, savings or self-directed investment account you need to complete FINTRAC guidelines including 2 pieces of ID, one must be government issued, 2 years residential history, employment history, etc. Most FIs require a credit check as well. So for a Crypto exchange to ask for 1 piece of ID, a statement or bill and some photos really isn't that bad of an ask. If anything it's only going to get worse to make it easier for the CRA and IRS to track transactions for tax, AML and corruption & bribery (I forget the body who monitors the AML and ABC stuff, but usually gets fwd'd to the RCMP at the end of the day).
~Let your actions reflect your desires
Deal Expert
User avatar
Oct 26, 2003
39339 posts
6342 upvotes
Winnipeg
Coz4k wrote: Right now they are all shit.

They will ask your driver's licence, pictures etc. Some even ask for passport scan... its pretty sad.
go mine your own damn coin then.
Deal Fanatic
User avatar
Jan 4, 2011
5820 posts
3846 upvotes
West Vancouver
hameljon wrote: That's pretty standard and it's not going away anytime soon. To open a chequings, savings or self-directed investment account you need to complete FINTRAC guidelines including 2 pieces of ID, one must be government issued, 2 years residential history, employment history, etc. Most FIs require a credit check as well. So for a Crypto exchange to ask for 1 piece of ID, a statement or bill and some photos really isn't that bad of an ask. If anything it's only going to get worse to make it easier for the CRA and IRS to track transactions for tax, AML and corruption & bribery (I forget the body who monitors the AML and ABC stuff, but usually gets fwd'd to the RCMP at the end of the day).
I think you don't understand what Bitcoin is all about.

I'm curious to see if we'll get more service offer than the current scam/hacked/steal your coins/ hippie exchanges we have now.
Member
User avatar
Feb 27, 2013
275 posts
368 upvotes
Calgary
Coz4k wrote: I think you don't understand what Bitcoin is all about.

I'm curious to see if we'll get more service offer than the current scam/hacked/steal your coins/ hippie exchanges we have now.
No for sure, I get the general goal with many platforms and/or coins is decentralization and with some, complete anonymous transactions, I just don't have faith in the government allowing it once a coin/platform reaches a certain monetary amount. It's just hard for big brother to get away from threats to their system and forget about tax income. Definitely a lot of opportunity for better exchanges.
~Let your actions reflect your desires
Deal Addict
Sep 14, 2010
1200 posts
318 upvotes
Toronto
satoshivault just came to the market at the wrong time :(
It was a good exchange, no issues withdrawal etc,, just liquidity issues.
Deal Addict
User avatar
Mar 16, 2010
3326 posts
1885 upvotes
Coz4k wrote: Right now they are all shit.

They will ask your driver's licence, pictures etc. Some even ask for passport scan... its pretty sad.
This may have been the dumbest thing I've read all day, and I just browsed OT earlier.
Deal Fanatic
User avatar
Jan 4, 2011
5820 posts
3846 upvotes
West Vancouver
Dpack22 wrote: This may have been the dumbest thing I've read all day, and I just browsed OT earlier.
Yes, because you are so knowledgeable, intelligent and well informed.

You heard about bitcoin last month so you might as well ******

What you don't know because you don't know much is that pretty much all the exchanges prior to 2015/2016 didn't ask for any information at all. Besides your email and a fake name.
Member
Nov 27, 2011
363 posts
264 upvotes
Canadia
Look like I'm a bit late to the crypto-party... Crying Face

Looking to signup for coinsquare and read the referral program. But how do I get referral? PM anyone here?
Deal Addict
Jan 27, 2016
1502 posts
905 upvotes
Edmonton
please mods delete this thread...how many of these threads do we need?

Sometimes i wish this industry would crash so I don't have to read about this stuff anymore Face Screaming In Fear
Deal Addict
User avatar
Apr 20, 2011
2448 posts
703 upvotes
TENSEVEN wrote: Look like I'm a bit late to the crypto-party... Crying Face
..
Pm'd you about it.Winking Face
loopy1984 wrote: please mods delete this thread...how many of these threads do we need?

Sometimes i wish this industry would crash so I don't have to read about this stuff anymore Face Screaming In Fear
Yeah. The mods locked mine already.
And I thought it was one of the more interesting ones towards this crypto phenomenon we all come to know and embrace as a profits maker!Grinning Face With Smiling Eyes
Atleast with the correct guidance by your side.Smiling Face With Open Mouth

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