Best Crypto Exchange for Investing?

[Deactivated] on 02/01/2022 - 00:36

Looking for a new Crypto exchange for Longterm buy and hold and APY investing/staking

Poll Options

Financial Cryptocurrency

Comments

  • dust on 02/01/2022 - 07:54
    +4
    Suggested Binance

    Binance

  • Overclocked91 on 02/01/2022 - 08:24
    +3

    FTX and stake through blockfolio (FTX) @8%

    • razorack999 on 02/01/2022 - 08:27

      what is 8%

      • Overclocked91 on 02/01/2022 - 08:29
        +1

        8% interest per year when you stake.

        • razorack999 on 02/01/2022 - 08:39
          +2

          stake- is that as safe as lending your shares to short sellers? is it as safe? What protection do you have?

          • Overclocked91 on 02/01/2022 - 08:45
            +2

            @razorack999: Where you can get caught is the shitty apps lock your stake with huge fees so you need to leave it in there. Yorio got me good with that so I would never ever recommend that app/program. But I've used Blockfolio to track investments since 2017 and never had an issue. You need to set a request if you want your stake out and might take 24hrs or whatever to get it out but you always get it back. It was more beneficial to have them in stake pools as they are long holds.

            FTX is used to trade through leverage etc.

            Sorry, just to be clear. FTX for daily trading/leverage/tracking market and Independent Reserve is good just buy and hold (clear and easy to read/follow, can have it all in AUD.

          • rektrading on 02/01/2022 - 09:01
            -3

            @razorack999: People that call them shares shouldn't stake.

            • razorack999 on 02/01/2022 - 09:06
              +1

              @rektrading: Did I say they were shares? I was asking about comparing the safety. "Is a bike as safe as a car on the road?" is not a statement saying that a bike and a car are the same.

    • bobwokeup on 05/01/2022 - 23:09

      I second that. I buy all my crypto through FTX formerly Blockfolio and earn the 8% yield but I wouldn’t call it staking. Staking to me is when it’s locked in for a period of time.

      The other good one for earning is Celsius Network as the cryptos not locked. OKEx is one I’ve been playing around with for a while and the returns are high on the “Savings” but I don’t understand why it fluctuates so much - is it due to supply and demand?

      Crypto.com is okay but your crypto is locked in for up to 3 months. When you earn your reward every week it just sits in your account until you sell/swap/withdraw or wait until the stake ends then add it to the original amount. That’s why I prefer the first 3 as they are compounding.

    • alexshel on 03/04/2024 - 21:14

      Did something happen to FTX recently?

  • razorack999 on 02/01/2022 - 08:41

    What worries me is the spreads that you might get with any of these exchanges. Can someone comment on what the spreads are between buy and sell price?

    • rektrading on 02/01/2022 - 09:07

      People who have a long term horizon shouldn't worry about spreads.

      People who trade in and out should get used to market orders, limit order, SL and OCO.

      • razorack999 on 02/01/2022 - 10:45
        +1

        sure. But it should be known what the spreads are right? if the market maker is taking a 3% bite each time you buy/sell then it is hardly commission free

  • Wiede on 02/01/2022 - 08:44
    +1

    For Crypto: try to start with the original for long term investing (bitcoin)

    Here's a good comment thread that you need to read:

    https://www.reddit.com/r/Bitcoin/comments/ro6kg4/people_of_r…

    Have a read here:

    https://bitcoin.org/en/getting-started

    Basically try to stay away from exchange if you want to hold long term (So many horror stories with so called legit exchanges if you want to simply google it). Educate yourself first, buy a good hardware wallet (research, research, research!, do not just follow someone's suggestions), factory reset said wallet, try to run your own node if possible, and start small first while learning.

    Good luck! remember to hold long term and just ignore the noise.

    • Kangal on 02/01/2022 - 16:33
      +1

      This.
      Do a lot of reading. Choose between Convenience VS Security.

      For instance: $10,000 or under, go for convenience with the big name brand solutions. Keep your money for a couple weeks, or two years. Basically having fun with it, and treating it as a learning experience, and somewhat gambling it like stocks. Money you can risk to losing.

      For Security: For instance HODLing AUD $50,000 then, get rid of your Xiaomi phone and get a current iPhone, and use a Hardware Wallet. And always be skeptical and security focussed. This is for more than two years, or long-term investing into this technology, environment and movement. Treat this like a Bank, it is serious, and we're talking about your Savings here. Money you're investing to not be hit by inflation.

      …and you can absolutely do both!
      Eg, keep one for day-trading (more like season-trading) with Alternative Coins. And funnel any profits you make along the way back to your Nest Egg/hardware wallet.

      You *might * get lucky, but don't treat it as such. Think of it like you're gaining inflation, or like Bonds, and not becoming a millionaire. There have been FAR MORE people who lost money from Cryptocurrencies than people that have made money. Where there's reward, there's risk. It's a mine field out there, scams and hackers everywhere. I don't know too much about this market, but I know it is risky, so seek out advice from proven people and NOT the random charlatans you find on YouTube, Facebook, Discord, etc etc.

  • rektrading on 02/01/2022 - 08:59
    +1

    DEX.

  • oblueknighto on 02/01/2022 - 10:27

    Binance, kucoin, FTX

  • dandosr on 02/01/2022 - 12:36
    -2

    "for Investing" hahahahahaha

    • rektrading on 02/01/2022 - 12:50
      -4

      Yes. Nobody wants a 58% 1Y return.

      A 7% 1Y return is the way to go.

  • hentabara on 02/01/2022 - 15:01
    +2

    for investing: hardware wallet.

  • bargdebarg on 03/01/2022 - 12:49

    For buying and trading Binance.
    For long term holding a hardware wallet.

  • jimsheppard17 on 04/01/2022 - 19:18
    Suggested Bitaroo

    great place to buy BTC. Lowest fees for trading and more importantly withdrawing.
    No gimmicks … wont see any influencer mention it or ads or referrals because they don't pay for promotions..

  • tmjsmith on 05/01/2022 - 17:58
    Suggested Crypto.com

    I like crypto.com and swyftx, I also use coinspot to stake FTM and VRA (19.2%)

    • bobwokeup on 05/01/2022 - 23:53

      Is FTM also 19.2%?

      Haven’t heard of VRA is that on the way up?

  • tmjsmith on 05/01/2022 - 17:58
    Suggested swyftx

    Swyftx is great.

  • rektrading on 05/01/2022 - 18:36
    Suggested Bisq

    Bisq

  • chakel on 05/01/2022 - 22:12

    binance & coinspot

  • FedeCarducci on 27/02/2024 - 20:34

    For sure the best option is WhiteBIT Lending - they offer more than 18% interest rate for lending out crypto (All the major ones, including BTC/ETH/ADA/XRP/SOL and etc)

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