Best Platform for Cryptocurrencies?

Outsider_83

Hi All,
It's very difficult to find the best currency exchange for crpytocurrencies, what do people on here recommend as a good application that is safe and easy/quick to sign up to and use?


I have tried BitStamp but having my status pending for a month is too long.

peter_the_piper

Maybe I'm getting old but the cryptocurrency boom reminds me of The Tulip Bubble, it burst and lots of people lost everything. Be careful.

pepper77_2

peter_the_piper wrote: »

Maybe I'm getting old but the cryptocurrency boom reminds me of The Tulip Bubble, it burst and lots of people lost everything. Be careful.

Wasnt it P T Barnum ?

One born every minute..................and two to take him.

Nah, apparently not.
The earliest form of the phrase that I can find in print comes from The European magazine: and London review, published by the Philological Society of Great Britain, 1806:

It was the observation of one of the tribe of Levi, [that is, a Jew] to whom some person had expressed his astonishment at his being able to sell his damaged and worthless commodities, "That there vash von fool born every minute".

[Deleted User]

Always seems like a form of gambling to me and not very money saving.

Cotta

With so many profiting from it surely it's a viable alternative although it seems darned impossible to purchase them.

worldtraveller

peter_the_piper wrote: »

Maybe I'm getting old but the cryptocurrency boom reminds me of The Tulip Bubble, it burst and lots of people lost everything. Be careful.

The one I always remember from my economics courses was the South Sea Bubble (1720).

As I posted recently on one of the investment forums, we've seen the phase where it's been pumped up by the big investors and their media mates, and we've seen the foolish, gullible, retail investors, who have subsequently got into the "get rich quick", latest, "fools gold" at, or near, the peak.

The problem is when the last person holding the baby loses their shirt, along with the other fools who got in at, or near the peak! It's very much like "pass the parcel" and who is left with the last wrapping, but, in this case, it's who is first to lose their !!!!.

Would I get involved? Yes, maybe, but, as a contrarian investor, for decades now, it would probably be when the price totally tanks, and most previous investors are left squirming over their losses!

malkie76

venison wrote: »

Always seems like a form of gambling to me and not very money saving.

Same can be said about any investment anywhere.

That being said, the time to invest in BitCoin (for example) was a very, very long time ago, coupled with them not paying traditional investor dividends makes it a difficult proposition at the moment.

zzzt

All the exchanges are terrible. Many have serious performance problems and long delays getting verified or withdrawing/depositing. Don't store large sums on exchanges, use private wallets or cold storage.

Some cryptocurrencies are only available on certain exchanges, so if you want any kind of diversified portfolio you'll have to sign up to most of the major ones anyway. I recommend you don't bother day trading or ever using leverage.

What are you trying to buy? Just BitCoin? The easiest and cheapest way is LocalBitcoins, or if you don't mind paying a higher fee, Bittylicious (but you will need your own wallet).

ifti

were using binance

atilla

Cotta wrote: »

With so many profiting from it surely it's a viable alternative although it seems darned impossible to purchase them.

And therefore, some that aren't.

fwor

Cotta wrote: »

With so many profiting from it surely it's a viable alternative although it seems darned impossible to purchase them.

I wouldn't consider the difficulty of purchasing them to be the biggest issue - I would be more concerned about how easy it's going to be to sell them!

When it comes to the crunch, how many of the exchanges are going to have huge reserves of Sterling (or whatever you preferred "real" currency is) to pay out?