Best Cryptocurrency Exchange

In this video, I'm going to talk about the best cryptocurrency exchange. Actually, there is no best cryptocurrency exchange. In fact, there's not even a safe cryptocurrency exchange. More on that in a second. But first of all, I'm going to tell you what I'm going to cover in this video, which is the exchanges that I use. And I'm going to give you some of my personal opinions on each of these. So I'm going to talk about Coinbase, Poloniex, Bitfinex, Kraken, HitBTC, and Liqui.io. And I've been using every single one of them, so I do have something to say about them. So let's talk about the golden rule of cryptocurrencies, which is... The only rules that really matter are these. What a man can do, and what a man can't do. And that's especially true if you think about it. If you think about it, the exchanges can take all your money. Because all your money is in the exchange, they can take your money and claim they're being hacked. It can even be hacked. And that's happened to Bitfinex, that's happened to Mt. Gox, it's happened in the past. And because of the way cryptocurrency works, there's very little law enforcement can do if they hypothetically take all your coins. And that is why none of these cryptocurrency exchanges are actually good. And none of them are actually safe. Because you can never guarantee that you can get your money back from them. And this has happened to me in the past before. You know, I've actually been using Bitcoin for a long time. And I put quite a bit of money into Mt. Gox. Which is an exchange, the biggest exchange at that time. And it blew up, completely blew up. So that's one of the reasons why I no longer really trust exchanges. But then there's another problem. What a man can't do. I can't exchange my money without an exchange. I have to go for one of these. You know, that is one of the stupidest things in this whole thing right now. I have to use an exchange. So anyway, so I'm going to talk about, you know, these in order. And I'll talk about a little bit about my experiences with them. And kind of advantages and disadvantages. Feel free to leave any comments about these exchanges below. I think there's a lot of flaws and a lot of good things about every one of these exchanges. And I would love to hear more about what you guys think about that. And I would love to open this conversation for people to discuss exchanges that they use and problems they've encountered on these exchanges. So let's start off with Coinbase. Coinbase is one of the most convenient exchanges out there to put money in and take money out if you live in the United States of America and their supported countries. So if you live there, it's actually pretty easy to take your money in and out. And their website works very beautifully. If you look at their interface, it's very, very beautiful. Coinbase also has very beautiful charts. And you can look at Ethereum, Litecoin, and Bitcoin charts. And they look pretty, pretty nice. And, you know, overall, the response is very fast. So, you know, as a beginner, this is a great place to start. And if you guys are interested, I have a referral link below where you can get $10 for signing up for Coinbase. And also, I also get $10 for referring you. So there, that's all in the open. But if you guys are interested in helping on my channel, do use the link below. I do want to say that if you want to secure up your account on Coinbase, you do want to use the Google Authenticator and not use an SMS authentication method. Because that is one way to actually get hacked. There are happy hacks where people just kind of steal your phone number and hack your account for that method. So there is an article about coin, you know, someone losing your money on Coinbase. And that's very, very unfortunate. So do guys take the necessary security precautions to secure your account there. So moving on to the next exchange. And that's our friend Poloniex. Poloniex has a crazy, crazy number of, you know, coins on there. And it's one of the exchanges with the most coins and the highest volume, if you think about it. Even for Ethereum, for Bitcoin has a huge amount of volume. Of course, with Poloniex, you can't actually use US dollars directly. You actually must use US dollar tethers. And these, whilst they're, you know, more or less one-to-one in terms of value, the tethers actually don't guarantee a US dollar. I think it's extremely important to point that out to a lot of people because, you know, they don't understand the tether system. And, you know, the tether system is just a way of representing a US dollar. But there is absolutely no guarantees there. But of course, recently we saw a drop when, you know, people were afraid that the tether was, you know, not going to be worth much or there's potential for a hack. But right now, we actually see tethers actually going up in value. It's actually worth more than a US dollar because people can start using it on trading and on Poloniex. So it's kind of interesting to see the dynamic there. And it's interesting to point things out. Poloniex has the worst customer, oh shit, it doesn't have the worst, but it has quite bad customer service. I mean, I've been trying to verify my account for the past, I think, two months. And I still haven't gotten verified yet. You know, and it's all in their end. They have like, you know, their support is so overwhelmed. They've grown, I think, you know, thousands of times the customer base. They lag every time, you know, something, the market's making adjustments. So there's these issues with Poloniex. But because there are a lot of coins here and they have a high volume and have a good price, Poloniex is one of my most used currency exchanges right now. Moving on to Bitfinex. Bitfinex is actually kind of infamous, really. Bitfinex has been hacked in the past. But then again, they actually made enough money to actually cover their losses. So that's kind of pretty cool for them. And they actually managed to, you know, stay afloat all this time despite, you know, having security flaws. So the reason why people use Bitfinex is A, because it has a lot of coins and also because it has exclusive coins. If you think about it, the recent coin, IOTA, was kind of exclusively launched on Bitfinex in terms of trading. So they got a huge trade volume there and there's just some exclusive features there that you want to use in Bitfinex. Next up is HitBTC. So HitBTC is kind of an interesting exchange I was introduced to recently. It has different coins and I was introduced to it through Bancor. So they started trading Bancor before every other exchange for these IOUs for Bancor. So that was kind of interesting. I was just surprised that they managed to trade that. But the deal was that, you know, if you bought tokens through HitBTC, they gave you these IOU tokens. They can start trading before the actual Bancor token was tradable. So that gives them an advantage. And it seems like it's quite a stable exchange so far. I don't have much to really say about them. I wouldn't have been using them for a week, but it's interesting how their business strategy works. So they kind of get users by literally offering something that's completely unavailable on the market and last but not least, it's our friend liquid.io. So liquid.io has a very clean interface and I was introduced to it because I've got, it's got waves and it's got the BAT token on offer for trade. So these tokens were not found on Poloniex. So I had to go to one of these exchanges to trade it and liquid.io has, you know, has more coins and everything. Like it's, it's got a few coins. It's got the troll box there. It has, it's a working exchange and they're efficient, but there are some small problems of the user interface. For example, I don't like, for example here, I didn't know that I can scroll down and start finding coins. So there's a minor and minor flaw there, but you know, I would still use it for BAT and for waves token just because it's available here. So there we go here. That's a summary of the five kind of five current exchanges that I use. If you guys want me to list any additional exchanges and for me to try them out and test them out for you guys, leave a comment below. If you guys have any additional comments you want for these exchanges, do tell me as well. I would love to hear what you guys think. If you had any problems, if you have anything that you really want to complain about, I would love to hear them below guys. I might, I make tons of videos about cryptocurrency related news, cryptocurrency summaries and cryptocurrency kind of tutorials. So if you guys are interested to survive to my channel, so you won't miss out on any of those videos. Thank you guys so much for watching. See you next time.