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Beginner’s Guide to Exchanges – Part 1

Beginner’s Guide to Exchanges – Part 1

Hola Compadres! It is me u/poop_dragon here with another guide. Today I would like to run through a list of ETH exchanges. This is just Part 1 of this list, and it covers established exchanges. Soon I will post Part 2 and 3 which will go into some other types of exchanges (derivative markets, coin converters, decentralized, and foreign exchanges) Side note, I have given rating to these exchanges based on some comparisons, news, and information which I have found online. Recently, EVERY exchange has been slow/unresponsive in their customer service due to the huge influx of new users. My intention is to help educate new users about the exchanges available. I am not trying to discredit, advertise, pump up, or damage reputations. If you feel something is inaccurate, please respectfully bring it up in the comments. I will be editing as we go. Last thing of note, I have only included the lowest level trading tier to calculate trading fees, which assumes the highest rates. Most exchanges offer lower fees for bigger orders, but I have gone with the assumption that everyone here is not dropping whale amounts of cash.

00 – Concepts and Definitions

01 –Digital Exchanges

Poloniex

Exchange Type Maker Taker
All Currencies .15% .25%
Feature Details
2FA Google Authenticator Available
Wallet Security ‘Majority’ of Funds in cold storage
Personal Information Encrypted and Stored Off-Site
Tier Level Name Email DOB Phone Address Official ID Bank Info KYC Limits
Level 1 X X $2,000 USD Daily Withdrawal Limit
Level 2 X X X X X X $7,000 USD Daily Withdrawal Limit
Level 3 X X X X X X $25,000 USD Daily Withdrawal Limit
Level 4 X X X X X X X X >$25,000 USD Daily Withdrawal Limit
What is a KYC? It stands for Know Your Customer Documentation. This varies between exchanges. However, like most things, if you have to ask, you probably can’t afford it.

Bittrex

Exchange Type Maker Taker
All Currencies .25% .25%
Feature Details
2FA Google Authenticator Available
Wallet Security Multi-stage wallet Majority’ of Funds in cold storage
Personal Information IP Whitelisting restricts trading from new addresses
Tier Level Name Email DOB Phone Address Official ID Bank Info KYC Limits
Basic X X X 3 BTC or less daily
Enhanced X X X X X X 100 BTC or less daily

02– Fiat Exchanges - USA

Coinbase (GDAX)

Country Credit/Debit Linked Bank Account Wire Transfer
Australia 3.99% - -
Canada 3.99% - -
Europe 3.99% 1.49% SEPA- Free (€0.15)
Singapore 3.99% 1.49% -
UK 3.99% - SEPA Free (€0.15)
US 3.99% 1.49% $10 Deposit / $25 With / ACH Free
Exchange Type Maker Taker
ETH/FIAT 0% .30%
ETH/BTC 0% .30%
Tier Level Name Email DOB Phone Address Official ID Bank Info KYC Limits
Level 1 X X X
Level 2 X X X X X Crypto Only
Level 3 X X X X X X X Fiat Enabled
Level 4 X X X X X X X X Higher Fiat Limits
Feature Details
2FA Google Authenticator, Authy, SMS
Wallet Security 98% Assets in Cold Storage
Personal Information 3rd Party Verified, Secured, Stored Offline
Digital Currency Insurance Fully Insured by Lloyd’s of London
Fiat Insurance Up to $250,000 by FDIC
Bug Bounty Multiple bounties up to $10,000

Kraken

Country Linked Bank Account Wire Transfer
EUR Free SEPA €5-10 (€0.09 Withdrawal)
US Free SWIFT $10 ($60 Withdrawal)
UK Free SWIFT £10 (£60 Withdrawal)
CAN Free SWIFT Free ($10 Withdrawal)
Exchange Type Maker Taker
ETH/FIAT .16% .26%
ETH/BTC .16% .26%
Tier Level Name Email DOB Phone Address Official ID Bank Info KYC Limits
Level 0 X No Trading Allowed
Level 1 X X X X No Fiat, Unlimited Crypto
Level 2 X X X X Fiat $2,000Day/$10,000Mo
Level 3 X X X X X X Fiat $25,000Day/$200,000Mo
Level 4 X X X X X X X X Fiat $100,000Day/$500,000Mo
Feature Details
2FA Google Authenticator, Master Key Available
Wallet Security Majority Assets in Cold Storage
Personal Information PGP Encrypted Emails, Global Settings Lock
Digital Currency Insurance Maintain Full Reserves
Bug Bounty Multiple bounties

Gemini

Country Linked Bank Account Wire Transfer
USD Free Free
Exchange Type Maker Taker
ETH/ALL .10-.25% .25%
Tier Level Name Email DOB Phone Address Official ID Bank Info KYC Limits
Individual X X X X X X X None - Except for ACH
Feature Details
2FA Google Authenticator, Authy Available
Hot Wallet Security Hot Wallet Hosted by Amazon Web Services
Cold Wallet Stored in 2 tiers of cold and 'cryo' multi-sig storage
Personal Information Encrypted in Transit and Stored Offline
Digital Currency Insurance Fidelity bond by 'top-tier insurance company'
Fiat Insurance Up to $250,000 by FDIC

03– Fiat Exchanges - Hong Kong

Bitfinex

Country Credit/Debit Bank Transfer Express Bank Transfer
ALL - .1% ($20 Minimum) 1% ($20 Minimum)
Exchange Type Maker Taker
ETH/ALL .10% .20%
Tier Level Name Email DOB Phone Address Official ID Bank Info KYC Limits
Individual X X X X X X (2) X X No Stated Limits
Feature Details
2FA Google Authenticator, Twilio Available
Account Security New IP Addresses locked for 24 hours, require verification and detection
System Security Hosted and Backed-up on Linux, protection from DDoS
Personal Information Email encryption with OpenPGP
Wallet Security Only .5% of funds are stored in hot wallets
EDIT : Thank you to u/Ginger_Bearded_Man for the suggestion. Bittrex has been added.
submitted by poop_dragon to ethtrader [link] [comments]

Why I think Bitcoin-Trader.biz is a well-built (dormant) scam

Hello, here is my analysis for anyone still hesitating to invest into BT.biz
People, please review some profiles here, on reddit and on Bitcointalk and you'll see that many people "vouching" for BT are fake profiles... I've been investigating for the 3 last weeks, going beyond the analysis given on reddit (http://www.reddit.com/Bitcoin/comments/27h6l4/bitcoin2014_was_sponsored_by_a_ponzi_scheme/) by Vaiex to take my decision to invest or not. Even the local reps are consisting of fake accounts for some if not the majority.
Forget the testimonials, then. This is a very-well thought dormant-scam. It's much more machiavelic I'd say since they've put the right amount of "credible" info such as : - Arbitrage is a real way of making money - Buying limit of 50K - Doing operations relative to open bank days - Providing "honesty" by offering a product that is going weaker due to real facts (mining shares)
This creates a sort of fog to put BT in a grey zone were even intelligent people may get into the trap...
Don't get me wrong, a lot of fake accounts claimed to have received their principal back, the script used is a HYIP software that was used before and often, the first adopters of a Ponzi get their money back like many of you know. As soons as there is more 10L-50K investments, they will just pull off.
The 50K investment limit is also a trap. If you were to sue someone for 50K, it will cost you about the same amount to get it back, so this will discourage many to use legal actions and just live with the loss. This isn't the same with people goxxed for millions, it will be worth it to at least retreive some BTC. I know, my wife is an attorney and she did point me to that possibility straight when I started talking about this "opportunity".
Also, you have to get the same capital moving to get arbitrage working. What I mean is that the open bank days isn't relevant.
Take CaVirtex and VaultofSatoshi. There is a constant arbitrage opportunity, but thething is that I have to get the capital to go this way : Bank>CVX>VoS>Bank and so on. I can'T just split my money in 5 and think that I will get 1% per day. It won't even be possible because it takes 7-10 days to make this process possible with the 100% capital.
The only plausible way is that 50% of the time it is either one exchange or another that is selling BTC higher, but still, you have to transfer all those BTC. The full 100% ! And in 30 minutes there is slight chances that the arbitrage opportunity will stay the same. Also, this bank open days argument is irrelevant in that case, it is just fog.
I could be wrong in the long run, but I think that they did innovate by giving some info that would alter the capacity to see that it is a Ponzi scheme after all. If I am wrong, then I'm sorry for BT.biz and their faithful user.
Just my view on this. They lost me after all of this, especially the sock puppet accounts.
Sorry for the bad english, it isn't my natural tongue.
Update : after giving my view on the official group, I've got banned...
Michael Brandenburg : Sorry Tahar, but calling our representatives using fake accounts, is a reason to ban you from our group. This group was designed for our clients to share ideas, not for naysayer and hired posters to damage our reputation. Of course we are operating in the so called gray zone, as do all Bitcoin related ventures. 1 min · J’aime
Me : Go ahead, I understand. But it is easy to see.
Naysayer? Hired poster? I think they can't handle an opinion, I just stated that I could be wrong... I have no interest of doing this other that others may be tempted to put a lot of money in there. There is risk, but this one is slightly more risky.
submitted by bitlionca to Bitcoin [link] [comments]

Calgary Bitcoin Day - Friday July 11

Bitcoin Brains is hosting an event at our new location, inside Waves Coffee on 17th Ave and 9A ST SW. The event will run from 12-7 with prizes between 5-7 PM
Our goal is to build awareness of bitcoin and that amazing products and services that are developing along side it. We are hoping to reach Calgarians and people in town for the Stampede.
We've got a bunch of promotions going on during the day.
Enter to win a bitcoin car (Kia Soul) or $10000 worth of BTC check out bitpages.co for more info
We're going to raffle off instant prizes including:
1st Prize - 1 Free bitcoin 2nd Prize - Gigabyte R9 280X used, no box no accessories 3rd Prize - Nvidia GT 740 Low Profile
Anyone who buys a minimum of $20 worth of bitcoins from the BTM will automatically get one entry.
The big secret that I'm only releasing on Reddit is that you can begin entering this contest immediately. Starting today, anyone who buys at least $20 from the BTM gets one entry, max 1 entry per person per day.
We will also have free copper bitcoins with a purchase, free paper wallets with microbits and tutorials for new users and free coffee from Waves.
Sponsored by Waves Coffee, CaVirtex, Bitcoin Brains, Saucal Web Design, RealHardwareReviews.com and Kryptoz Marketing
submitted by BitcoinBrains to Bitcoin [link] [comments]

Vertex ICO Review: How Can You Vet ICO's? cavirtex - YouTube Vertex - The Best ICO Review Video#1-Trading with Virtex_Hires Vertex (VTEX) - Coin Review  The Worlds First ICO ...

ViteX Review. A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of ViteX consists of four parts: general information, fees, deposit methods and security. General Information Can someone give me a review on Cavirtex? I will be doing withdraws of about $500 every few months. jump to content. my subreddits. edit subscriptions. popular-all-random-users AskReddit -worldnews-videos-funny-todayilearned-pics-gaming-movies-news-gifs-mildlyinteresting-aww-Showerthoughts-Jokes-science-OldSchoolCool-sports-IAmA-Documentaries-TwoXChromosomes-explainlikeimfive-personalfinance ... Review by, Joe Are you a Canadian, like me? If you are then you would probably want to use a Canadian Bitcoin exchange right? When in doubt, go local. CaVirtEx has been around for a while, since 2011 in fact, and has served its purpose fairly well. I've used it a few times, only to exchange small amounts of Bitcoin however, so I cannot speak to whether or not it is good for larger amounts. Bitcoin is a cryptocurrency – a form of digital money which can be bought with other currencies, traded for them and (where retailers accept it) used to buy goods and services. Cryptocurrencies such as bitcoin run on a technology called blockchain – essentially a huge online database of transactions. Blockchain’s great strength is that it’s considered unhackable. This is because rather ... r/Bitcoin: A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money … Press J to jump to the feed. Press question mark to learn the rest of the keyboard shortcuts. r/Bitcoin. log in sign up. User account menu. 16. VirtEx Review and Future Plans (YouTube video) Close. 16. Posted by. u/cavirtex_com. 5 years ago. Archived ...

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Vertex ICO Review: How Can You Vet ICO's?

Vertex is creating the first market of its kind and a unique token that combines trading, venture capital experience, and fair-value based tokenization. Vertex will create a financial ecosystem ... Kyle Kemper from CAVIRTEX describes why he loves Bitcoin and the purpose of the #lovebitcoin contest. For more info on the contest, to contribute to the prize pool, or become a sponsor please visi... Buying a Bitcoin and open trades on Virtex. Virtex is a Canadian Bitcoin Exchange. About ICO:Vertex is creating the first market of its kind and a unique token that combines trading, venture capital experience, and fair-value based tokenization. Vertex will create a financial ... This video explains how to create a Canadian Virtual Exchange (Virtex) Bitcoin trading account.

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