Tip #1: choose exchanges with no account verification issues plus low withdrawal fees.
Tip #2: Don't use your credit card to buy coins. Try sending funds via Fiat (from a bank account). Credit card fees are a steal, amounting up to 15%.
Binance.com. Entry level (VIP 0) fees: Maker 0.1000%, Taker 0.1000%. You need to monthly trade 50 BTC to jump to the next VIP 1 level (Fees: Maker 0.0900%, Taker 0.1000%). 500 BTC for VIP 2, 1500 for VIP 3 (Fees: Maker 0.0800%, Taker 0.1000%), etc. Taker fees remain unchanged up to level VIP 4 (4500 BTC).
Bitpanda.com (not recommended: found account verification issues)
Coinbase.com (high transaction/withdrawal fees)
Coinmama.com. You can buy coins with credit card and they also offer to exchange your coins by depositing them to your SEPA account. In theory, because in practice they have a short window span of 30 minutes to see the coins in their wallet and start your order. If the coins are delayed in the blockchain, your order is canceled. You then need a special request to their support to get your coins back!!! Pathetic, yes, it is. They don't contact you to refund your coins, you need a special request, and I call it special because you need to contact the support many times to get it done. It's also special as they don't have anything about refunds in their FAQ or Help section. Even if they tell you they will refund you still need to hassle them to get the coins, as they don't refund one-off and they bring up excuses like the first wallet you gave them is 'not personal' and they need another one. The wallet was good for them when I used my credit card in 7 different orders, to send funds to it (incoming) but not for outgoing funds. Lame excuse right? Plus, they didn't contact me on a second issue that my wallet doesn't work instead sat on my funds. I would accept a more plausible excuse, if they said, we delayed the refund because it's not a business day or we screwed up and we apologize. Spitting outrageous lies like that is bad for the customers.
Etoro.com (high transaction/withdrawal fees, no option to withdraw your coins to a local wallet)
Huobi.com (high deposit fees when paying with credit card)
Kraken.com. Entry fee: 0.16-0.26%, Withdrawal monthly limit: $5,000.
Liquid.com (Quoine). After testing it for several months I should warn the readers that nothing works there anymore. Here is why: they took down the credit card deposit option which they offered for the long period of about two months, without any notice or alternative service; their exchange service for quickly swapping coins at times is broken; their order book is automated (algorithmic) running only one or two real orders and the rest piggy-backing on your real orders (easy to spot the automatic increments); they restrict your transactions for 72 hours if you reset the 2FA security code: for months they didn't offer the option to reset the 2FA code as is the standard online; If you wanted reset your verified! account you had to take selfies and contact the support! Of course, I didn't do that. I was using my old phone to enter the codes in each transaction and contacted the support to lament about the stupidity of the issue. Well, they changed it after sitting on the issue for more than one year, they even silly advertised it is as an innovation towards better servicing their clients! Still, the knuckleheads prevailed again putting a 72 hour lock-down to every 2FA reset. So, if you need to withdraw your funds visit again the Planet of the Apes after 3 days. I should mention also the excessive charges when withdrawing fiat dollars (they work with an Asian bank that sucks the blood out of your revenue); Why? Because they pulled the SEPA bank and now it's a steal. Their mobile app is a mess (hides some order features; loses the login details each time, etc.); their margin system doesn't work when placing orders (does not allow setting the quantity); their support is fast but essentially useless as they only show that they answer promptly but there's no value when you get typical support language (vague and mechanical without solving issues); their insecurity drives them to add extra unnecessary security measures which lead to impracticality using their dashboard; they will send confusing emails after months of trading to verify your account because their tools fail to give the current account status; they will advertise services they have stopped for more than a month; they will contact the clients to make them login again even though the clients are continuously logged in; their failing reports and lack of internal communication between the teams are very confusing (bad customer management); they don't keep the deadlines they promise for withdrawals: even though they say on their pages that all withdrawals are processed withing three days there are cases where they take more than 15 days without any notice and then they cancel the withdrawal; they will switch banks and just when you paid 5 Euros you come up paying ten times more commissions. You want to know the best part? They have introduced a practice that shuts down for ten minutes all orders. You can't insert, change or close an order. What this mean is that for ten minutes margin traders are essentially blind. If the market goes south they might lose funds as their positions could be liquidated (irony the verb is the same as the exchange name!) or if the market goes north they miss an opportunity to profit. Want to know the best part? It's been hours that their website is not accessible; Not even with a 'clean' browser, meaning no cookies, no cache, different IP and country. I'm lucky I didn't have any positions when it happened as they could have been liquidated if the price went down. On the other side, as I monitor BTC prices it looks that BTC has jumped 100+ points up so I guess I lost some profits thanks to the brilliant engineers working at Liquid.com. They contacted me the next day to let me know that the site was back on, I knew that for the last 16 hours they just delayed the notification. The excuse was that they run a 'feature enhancement', probably they got hacked or run a DDOS and they call it an 'upgrade'.Maintenance scheduled again for JST 3, 2020 at 7am (10pm GMT+1) would supposedly make a change to the tick size structure, a change that would have taken 4 hours to implement. So, we are at 11:30 am (GMT+1) on Jan 4, with more than 12 hours have passed (3x the maintenance estimate) and their site is still down!! The engineers create miracles there or got hit by someone and try to fill in the holes with maintenance BS.
Okex.com (not recommended: found account verification issues)
Poloniex.com (not recommended: found account verification issues)
Shapeshift.io (not recommended: found account verification issues)
Want me to list your Exchange here? Contact me and offer a verified account (I will provide the funds of course).
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Address: Every crypto on the blockchain has a unique address that contains transactions and useful info about the coin.
All-Time High (ATH): Highest price ever achieved.
All-Time Low (ATL): Lowest price ever achieved.
Altcoin: Any cryptocurrency other than bitcoin (see above list of coins).
Atomic Swap: To exchange cryptocurrency directly without needing to buy or sell.
Bag: Large quantity of a specific cryptocurrency.
Bagholder: Owner of coins that decrease in value until they lose any value.
Bearish: Downward price movement.
Bear Trap: An upward price trend reverses downwards for some moments and then continues the upward movement. Traders manipulate the price of a cryptocurrency to sell their coins at the same time, sending the signal that the market goes down. Then they buy back their assets at a lower price.
Bitcoin (BTC): Created in 2008 as a decentralized digital currency shared over the peer-to-peer bitcoin network without the need of a third party. Everybody with the right hardware can mine Bitcoins. The total supply of Bitcoin is 21 million, and in circulation now are 17.82 million coins. The upcoming shortage of Bitcoins will raise its price.
Block: Blocks make a blockchain and contain all transactions made until the block is full.
Blockchain: Distributed ledger technology that serves the decentralized control of each cryptocurrency and works as a public financial transaction database.
Block Explorer: It is an online tool to monitor all the transactions on the blockchain.
Block Height: How many blocks are connected in the blockchain.
Block Reward: The miner gets a reward for completing the mathematical problem to solve the block and verify blockchain transactions.
BTD (Buy The Dip): Time to buy a coin (substantially price decrease).
Bullish: Upward price movement.
Bull Trap: A downward price movement reverses upwards for some moments and then continues the downward movement.
Burned: Unspendable coin.
Circulating Supply: Total number of coins available to public trading.
Cryptocurrency: Money that is in digital form and kept outside of the banking system. Cryptocurrency uses advanced algorithms to regulate the creation and transfer of funds.
Dead Cat Bounce: Temporary price recovery after a huge dip.
Decentralization: Unlike national currencies and central banks here, there is no central entity that prints money.
dApp (Decentralized Application). Open-Source software that runs on its own without control from other entities and utilizes a blockchain for data storage.
DAO (Decentralized Autonomous Organization). An organization which runs by software, not depending on human input. The application has no central controlling entity.
Digital Commodity/Currency: It is an electronically transferred asset which holds a specific value.
Dumping: Downward price movement when many are selling.
Faucet: It is a reward in coins for the completion of a specific task.
FOMO (Fear Of Missing Out): Buying coins when their price hits its peak.
Fork: The split of a Blockchain.
FUD: Fear, Uncertainty, Doubt (panic created from negative sentiments/news).
Hashing Power: Measurement of computer performance hashes per second. Hash Rate is the speed at which computers on the network operator. For miners, the higher the hash rate, the more the block rewards. The higher the hash rate, the more secure the bitcoin network.
HODL (Hold On for Dear Life): Holding on to your coins, resisting the selling trend.
JOMO (Joy Of Missing Out): Watching the others buy coins when prices hit the peak.
ICO (Initial Coin Offering): When cryptocurrency developers offer an initial batch of coins for purchase.
Ledger: Record of finalized financial transactions. Central Ledger is a single entity in control of all financial records, i.e., a bank.
Leverage: It is a loan offered during margin trading.
Long: A positive market position (buy).
Market capitalization (MCAP or CAP): Coin market price multiplied to the total available supply of coins currently in the market.
Moon (Mooning): When the price of a coin skyrockets, it is called mooning.
Pump: Upward price movement.
Pump & Dump: It is used to describe the price manipulation by whales or collectives.
SATS: The smallest unit of bitcoin (0.00000001 BTC). It comes from Satoshi Nakamoto.
Shitcoin: Coin with no value and no positive outcome.
SEGWIT: Segregated Witness.
Short: (Short) Selling when one trades coins he does not own with the hope of buying them at a lower price to resold and earn a margin.
SHA-256: The hashing algorithm used by bitcoin.
Tokenless Ledger: A distributed ledger that doesn’t use a currency and miners don’t get paid.
Transaction: Amount of cryptocurrency moved from one wallet to another on a blockchain network.
Transaction Fee: The small fee which is given to the miners approving a transaction on the blockchain.
Unconfirmed Transaction: A transaction that is not appended to the blockchain is unconfirmed.
UTXO (Unspent Transaction Output): Amount sent to a wallet and stored there.
Volatility: Price fluctuation.
Wallet: Public address on the blockchain with a set of private keys that keep ownership of cryptocurrency. Deterministic (created by producing multiple keys from a seed), Software/Application (stored on a PC), Hardware (USB stick that stores coins), Mobile application, Paper (stored on a physical document alias Cold Storage), and other forms of wallets.
Whale: Investor with enough funds to manipulate the market.
Whitelist: List of investors registering their intent to purchase prior to an ICO.
Whitepaper: Detailed information released to investors prior to an ICO about the scope, intention, roadmap of a cryptocurrency.
Zero Confirmation Transaction: Unconfirmed transaction.
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