Which Crypto Exchange?

TheSilverBullet

Hi All,
I want to buy some bitcoin but would like some recommendations as to which Exchange to use. A friend says Coinbase is the best but I am already having issues with them and I haven't even placed a trade yet (I opened an account on Coinbase Pro, waited for my account to become approved, got an email saying I can now buy via card but not link a UK bank account. So I went to buy with a card only to be told the account is still under review so I can't fund the account. The other issue is that the Coinbase Pro screen is awful especially the charting - why can't I see a full size chart or resize/hide parts of the screen? and why only 12 and 26 day MA?).

Anyway, so I thought what's the number 2 choice?

Any help appreciated.

Thanks

Silver

HansOndabush

The crypto exchanges have no FCA protection. If you want to gamble on crypto, you also have to gamble that you can get your money out AND find a bank that will accept payments from a crypto exchange; many of the major ones won't.

webnibbler

Your friend is right that Coinbase is the best exchange to start with as a beginner. You also may want to start with a few simple market orders on Coinbase first before going into the trading screens on Coinbase Pro. You could also consider Binance, but I don't find it as easy to use as Coinbase, although trading fees are cheaper.

Coinbase do require a few pounds sent from your bank account to verify your account before you can send a larger amount. It's common on most exchanges for this to take some time especially when there is a high number of new users.

Remember not to keep too much of your crypto on an exchange. Install a wallet like Exodus or MetaMask and move your purchases there.

maxsteam

TheSilverBullet said:

 A friend says Coinbase is the best but I am already having issues with them 

Coinbase is about as good as it gets for cryptocurrencies. If you don't like it, don't do it. There is very little regulation to keep the platforms in check. An alternative that you might be more comfortable with is to invest in a cryptocurrency fund. My advice, however, is to invest in something real.

HansOndabush

maxsteam said:

TheSilverBullet said:

 A friend says Coinbase is the best but I am already having issues with them 

 My advice, however, is to invest in something real.

By that, do you mean a hexadecimal number in cyberspace?

jamei305

I used Bitstamp who I found very professional

[Deleted User]

I use Binance, GBP Faster Payment in and out in matter of seconds, max minutes. Fees cheapest in whole UK market.

Doshwaster

I've got a small holding of bitcoin in Coinbase. I don't really consider it to be an investment - more of a gamble for a bit of fun. if it increases ten-fold then great but if the value gets wiped out then it's small enough amount not to worry about.
I certainly wouldn't be putting any long term investments or money you can't afford to lose int crypto. Treat it more like buying some lottery tickets.

[Deleted User]

maxsteam said:

TheSilverBullet said:

 A friend says Coinbase is the best but I am already having issues with them 

Coinbase is about as good as it gets for cryptocurrencies. If you don't like it, don't do it. There is very little regulation to keep the platforms in check. An alternative that you might be more comfortable with is to invest in a cryptocurrency fund. My advice, however, is to invest in something real.

Coinbase is as good as it gets? Jeez you must be uninformed.
Try Bybit and use Trading View for charts.

Selinda

I've been buying crypto for a few months and Coinbase is indeed the best for a complete beginner. But you will realise very quickly that the charges are huge compared to some of the other platforms out there. The number of cryptos listed is also very limited on Coinbase. You could move to Coinbase Pro ... but I have started to use Binance which is intimidating at first but once you understand how it works - its the one I would recommend and gives you everything you need.

jacklaurence

I would recommend Coinbase Pro or Binance