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Cryptocurrency Trading Platforms


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Cryptocurrency Trading Platforms

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  #1 (permalink)
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I have been googling to find any trading platforms that support cryptocurrencies, while i have found many websites that do so, I have not found a programmed platform that does so. I am wondering if you guys know of any that do so?

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  #2 (permalink)
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jupiejupe View Post
I have been googling to find any trading platforms that support cryptocurrencies, while i have found many websites that do so, I have not found a programmed platform that does so. I am wondering if you guys know of any that do so?

Sierra charts has the data feeds for many of the Crypto's and I chart them.

I personally don't trade them from SC, but SC does support BitMex.

https://www.sierrachart.com/index.php?page=doc/BitMEX_Trading.php

I use the gdax.com exchange and I've been with Coinbase for quite a while now.

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  #3 (permalink)
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https://simplefx.com/dashboard/

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  #4 (permalink)
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Thanks to both of you but with out a wallet SC is pretty worthless in my book, and having a charting via a webpage is counter productive imo. but again thanks.

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  #5 (permalink)
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jupiejupe View Post
Thanks to both of you but with out a wallet SC is pretty worthless in my book, and having a charting via a webpage is counter productive imo. but again thanks.

Not sure exactly what you had in mind or wanted to do here? Just chart them or actually trade them?

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CenFlo View Post
Not sure exactly what you had in mind or wanted to do here? Just chart them or actually trade them?



i am looking for a platform that will chart them think ninjatrader not etrade, with a wallet to store my loot.


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  #7 (permalink)
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jupiejupe View Post
i am looking for a platform that will chart them think ninjatrader not etrade, with a wallet to store my loot.


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Have you tried the NT forum to see if that's possible? Not an NT user here, so I can't help you.

Gdax is a decent exchange and, as stated, being a Coinbase.com user it's ideal for me.

The only down side is each exchange is independent as far as price and market movement, so it's not 100% accurate to use one exchange's price info in that regard.

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  #8 (permalink)
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CenFlo View Post
Have you tried the NT forum to see if that's possible? Not an NT user here, so I can't help you.


my only reason for naming nt is to differentiate the type of platform as i am not looking for a web base charting/trading platform, and unlike the SC set up, the wallet would need to be part of the system.



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  #9 (permalink)
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jupiejupe View Post
my only reason for naming nt is to differentiate the type of platform as i am not looking for a web base charting/trading platform, and unlike the SC set up, the wallet would need to be part of the system.



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Only one I've heard of that's close to what you have described is coinigy.com and I've read about it, but have no personal experience using it.

YT vid:


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  #10 (permalink)
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CenFlo View Post
Only one I've heard of that's close to what you have described is coinigy.com and I've read about it, but have no personal experience using it.



YT vid:






thanks


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  #11 (permalink)
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jupiejupe View Post
Thanks to both of you but with out a wallet SC is pretty worthless in my book, and having a charting via a webpage is counter productive imo. but again thanks.

Maybe I wrong but my understanding is that when you 'trade' (as opposed to actually exchange) cryptocurrencies on any exchange, nothing is in your wallet. The exchange credits your account but not your wallet with the currency. For it to actually appear in your wallet you need to withdraw it (or whatever it is called) and pay the excessively high fee to do that. This is one of the reasons I have stayed away, especially after Mt. Gox, Bitfinex and I assume other exchange issues, where currency is not in your wallet.

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  #12 (permalink)
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IMO it's not worth trading because the spread is just criminal.
I wanted to sell my ethers when they were trading around 300. I could sell them for 280 and could buy more for 320.

So even though the volatility is appealing, the spread is insane and therefore not worth trading.
I think you're better off with a buy & hold strategy.
My 2 cts


Anyway, back to your question: I'm not aware of any charting platforms or datafeed.

Cheers!

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  #13 (permalink)
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GruttePier View Post
I think you're better off with a buy & hold strategy.

A buy, pay withdrawal fee and put in your wallet, hold strategy.

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  #14 (permalink)
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SMCJB View Post
nothing is in your wallet. The exchange credits your account but not your wallet with the currency. For it to actually appear in your wallet you need to withdraw it (or whatever it is called) and pay the excessively high fee to do that.

Mostly likely, but to be a bit more clear I want a platform that also duobles as my wallet, not that it is trading from within my wallet.

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jupiejupe View Post
Mostly likely, but to be a bit more clear I want a platform that also duobles as my wallet, not that it is trading from within my wallet.

I think it's time you created your own desktop based exchange that doubles as your wallet, but doesn't trade from your wallet...

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  #16 (permalink)
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CenFlo View Post
I think it's time you created your own desktop based exchange that doubles as your wallet, but doesn't trade from your wallet...



hmmm...


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I have been using Coinigy for a few months now.

It's a decent platform, but it is a tad buggy, and not the best platform.

If you're used to things like NT, which work VERY well, Coinigy is not that good. BUt it is good enough, particularly for swing/position trading, which is all I do.

You can connect MOST exchanges to it, and trade them all through that platform.

So... as far as current cypto options out there, it is far and away the best one I've seen.

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  #18 (permalink)
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I've been trading the crypto's quite a bit more over the last few months as they tend to move more over the weekends when the traditional markets are closed.

Opened up a kraken.com account and while it's not an ideal exchange (IMO) they have way more crypto / currency pairs than coinbase does and their fees seem reasonable.

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  #19 (permalink)
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Bumping this thread.
These guys are likely the Chads of 2020-21

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  #20 (permalink)
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The space has certainly grown since 2017. Alot of institutional involvement and CME have just announced Ethereum Futures. Definitely a quirky market as it's 24/7. Big moves can happen over the weekend. There is no true RTH session like Futures/Equities etc. But alot of the volatility/movement can happen in EURO/USA hours. Really keen to hear from more Crypto guys on this forum.

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The 24x7 of crypto vs the traditional 23x5 or even 16x5 of traditional futures markets is interesting and potentially a risk management problem if your trading futures. CME's Jan Bitcoin closed at $29385 on Thursday 31st which probably equates to about a $29250 cash price. Here we ae on Sat 2nd just after midday, CME markets will not reopen for another 27 hours, and Bitcoin is trading $31544 on Coinbase and has been as high as $33,300. Thats a 13.8% move while the markets have been closed over a long weekend!

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SMCJB View Post
The 24x7 of crypto vs the traditional 23x5 or even 16x5 of traditional futures markets is interesting and potentially a risk management problem if your trading futures. CME's Jan Bitcoin closed at $29385 on Thursday 31st which probably equates to about a $29250 cash price. Here we ae on Sat 2nd just after midday, CME markets will not reopen for another 27 hours, and Bitcoin is trading $31544 on Coinbase and has been as high as $33,300. Thats a 13.8% move while the markets have been closed over a long weekend!

A bit of alpha for you. There is a thing in Crypto called CME gaps. If you go through the charts you'll find that there has been only one "CME Gap" recently that hasn't been filled. Not saying the latest gaps will be filled. But History suggests.....

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Legendary Market Wizard
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@Lonhro yeap I know about that gap! Seems like a long long way away up here!

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SMCJB View Post
The 24x7 of crypto vs the traditional 23x5 or even 16x5 of traditional futures markets is interesting and potentially a risk management problem if your trading futures. CME's Jan Bitcoin closed at $29385 on Thursday 31st which probably equates to about a $29250 cash price. Here we ae on Sat 2nd just after midday, CME markets will not reopen for another 27 hours, and Bitcoin is trading $31544 on Coinbase and has been as high as $33,300. Thats a 13.8% move while the markets have been closed over a long weekend!

Bitcoin traded $34,810 over night and we are still 8 hours away from US Futures markets opening. At current price 33905 we will be looking at an open of +15.3%

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  #25 (permalink)
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The 24x7 nature of crypto is certainly attractive for trading. I would very much be interested in hearing of cost-effective ways of trading it with moderate leverage (you don't need much given the volatility). I have an account on kraken that I might toy with as an experiment.

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Guess that depends upon whether trading is your job or not. Since it is mine, I wish it was just 5x23 so I didn't have to worry about non-work days. On the other hand if your a part time trader having something good to trade on the weekends is probably nice.

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Yeah I echo that, 24x7 would be a very stressful first 1-2 years of setting things up. Even 23x5 takes a lot of effort. After the honeymoon phase you will start to see it as a job and that perk wears out.

I'm sure you've seen this image before. It really takes a convergence of passion, mission, profession and vocation for you to keep up doing something 24x7 or you'll burn out.



To me the most attractive part about crypto markets is the low barrier to entry. Other than that it feels to me like dedicating your whole life to trading only TSLA stock for 24x7.

The one thing missing from this image is what I call the concept of correlated learning. Even in electronic market making I feel somewhat tired because I am meeting the same type of people over and over again, and getting good at something that only a handful of people could appreciate. But at the very least my skills are recyclable if I am to throw in the towel one day and decide I wanted to work for a tech firm, a startup or really any financial institution. It's dubious if you can find that sort of meaning from acquiring crypto knowledge.

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Legendary Market Wizard
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Actually haven't seen that before. While I do understand the need and roll of speculators I'm not sure many of us bring much value to the world! Hence I believe I am lucky enough to reside in that bright green area between Passion and Profession.

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brach View Post
The 24x7 nature of crypto is certainly attractive for trading. I would very much be interested in hearing of cost-effective ways of trading it with moderate leverage (you don't need much given the volatility). I have an account on kraken that I might toy with as an experiment.

You shouldn't have to worry about fees too much if your not using alot of leverage. Unless your a scalper and use market orders alot!

Market order roundturn is about 0.08% on Binance Futures (This would be 0.40% with 5x leverage) on the first volume tier. But if you're aiming to catch 0.5-1%+ (2.5/5% with 5x leverage). It shouldn't matter too much.

A few of the futures exchanges even pay you to create liquidity (Limit orders).

Just be aware to familarize yourself with the concept of Funding with Cryptocurrency Perpetual Derivatives. These can work for you benefit.

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SMCJB View Post
Guess that depends upon whether trading is your job or not. Since it is mine, I wish it was just 5x23 so I didn't have to worry about non-work days. On the other hand if your a part time trader having something good to trade on the weekends is probably nice.

This is one of the benefits of Crypto. Guys can hold down a job and still have a shot of building a trading career. Especially good for newcomers.

I even still have my full-time job now which I'm quitting next month to focus full time on my Prop trading career.

Weekends can have wild swings which is even better due to lower liquidity and Whales taking advantage.

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Lonhro View Post
You shouldn't have to worry about fees too much if your not using alot of leverage. Unless your a scalper and use market orders alot!

I respectfully disagree. I'm not a "scalper." I prefer day trading mostly, with some swing trading. Fees are critically important.

Leverage, volatility, and fees (including bid/ask spread) are all critically important when evaluating trading opportunities IMO.

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  #32 (permalink)
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jupiejupe View Post
Mostly likely, but to be a bit more clear I want a platform that also duobles as my wallet, not that it is trading from within my wallet.


I suggest dYdX.

You can trade ETH against the USD stablecoins USDC and DAI, using up to 500% leverage, and trade ETH and BTC perpetual futures contracts at 10x leverage.

You are trading live, on-chain (i.e., all trades are auditable transaction on the Ethereum blockchain).

Ethereum transaction fees are high right now, but if you trade using limit orders, there's no transaction fee.

The assets are in your Ethereum wallet, but are locked in the dydX contract. You have to deposit into the dYdX contract, and can withdraw available collateral at any time.

Also nice is the fact that your stablecoin deposits are lent directly to traders borrowing the funds for margin trades, with dYdX only getting a small slice. I'm currently getting 30% interest on my USDC (stablecoin that is 1:1 redeemable for USD) deposit!

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  #33 (permalink)
Legendary Market Wizard
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Sorry not intentionally trolling here. I just don't understand DeFi properly.

alacrity View Post
The assets are in your Ethereum wallet, but are locked in the dydX contract. You have to deposit into the dYdX contract, and can withdraw available collateral at any time.

How you guarantee you can withdraw? Whats the chance there's something in the code you or somebody else doesn't understand? What happens if dYdX gets wiped out?

alacrity View Post
Also nice is the fact that your stablecoin deposits are lent directly to traders borrowing the funds for margin trades, with dYdX only getting a small slice. I'm currently getting 30% interest on my USDC (stablecoin that is 1:1 redeemable for USD) deposit!

Where does that 30% come from? Either somebody else is losing/paying it or they are printing it out of thin air at a rate that makes the US Fed look conservative.

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alacrity View Post
I suggest dYdX.

You can trade ETH against the USD stablecoins USDC and DAI, using up to 500% leverage, and trade ETH and BTC perpetual futures contracts at 10x leverage.

You are trading live, on-chain (i.e., all trades are auditable transaction on the Ethereum blockchain).

Ethereum transaction fees are high right now, but if you trade using limit orders, there's no transaction fee.

The assets are in your Ethereum wallet, but are locked in the dydX contract. You have to deposit into the dYdX contract, and can withdraw available collateral at any time.

Also nice is the fact that your stablecoin deposits are lent directly to traders borrowing the funds for margin trades, with dYdX only getting a small slice. I'm currently getting 30% interest on my USDC (stablecoin that is 1:1 redeemable for USD) deposit!

You might take a look at FTX. Interface is excellent, and extremely fast. They also have a Progressive Web App, and the Android app is also quite good.

Side note, are you staking anything?

I intend to start talking about crypto futures a lot more on the site. Google Trends also shows it far outpacing traditional futures.

Mike

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  #35 (permalink)
Millburn
 
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SMCJB View Post
Sorry not intentionally trolling here. I just don't understand DeFi properly.
How you guarantee you can withdraw? Whats the chance there's something in the code you or somebody else doesn't understand? What happens if dYdX gets wiped out?

Good questions. Yes, there is contract risk with every DeFi platform.
1. There could be a hack/exploit of the contract, and someone could steal your funds.
2. There could be an unanticipated problem with the contracts, and your funds could be locked up or made inaccessible.

In my view, this is a very small risk with dYdX. It's the most VC-invested DeFi platform after Uniswap. There have been multiple audits, and they have an ongoing "perpetual audit" via OpenZepplin (one of the top audit firms). More here:
https://help.dydx.exchange/en/articles/2906504-how-can-i-trust-that-my-funds-are-safehttps://help.dydx.exchange/en/articles/2906504-how-can-i-trust-that-my-funds-are-safe

For those who still are concerned, one may buy contract risk insurance for dYdX at multiple platforms, the best known one being Nexus Mutual:
https://nexusmutual.io/

Also, dydX is non-custodial. They can't confiscate or abscond with your funds, and the contract only locks funds being used as collateral for a margin loan. They don't have liquidation risk. They allow anyone on the Ethereum chain to liquidate trades that fall below the margin requirement, and the liquidator gets the funds at a discount. The dYdX platform just facilitates this. They aren't taking the opposite side of trades, or performing the lending from their funds.




SMCJB View Post
Where does that 30% come from? Either somebody else is losing/paying it or they are printing it out of thin air at a rate that makes the US Fed look conservative.

Nothing is being printed. USDC is backed 100% by deposits of USD fiat in US banks. The high interest is being paid by margin traders.
It's a highly variable rate of interest. Although I'm getting 30% at the moment on USDC, I was getting 9% yesterday. It's driven entirely by supply & demand on the platform.

At times of high demand, margin interest can top 40%. But because of the volatility of ETH, these margin trades are held less than a week, on average.

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Legendary Market Wizard
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Thanks @alacrity for the explanation.

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Millburn
 
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Big Mike View Post
You might take a look at FTX. Interface is excellent, and extremely fast. They also have a Progressive Web App, and the Android app is also quite good.

Side note, are you staking anything?

I intend to start talking about crypto futures a lot more on the site. Google Trends also shows it far outpacing traditional futures.

Mike

Sorry for my delay in responding.
Yes, I stake USDC on Yearn Finance and on Harvest, ETH on Cream, and tokenized BTC on Badger.

All of those are on Ethereum.
I have some Cardano (ADA) that I've been staking since last year.
I also got some Edgeware (EDG) through their lockdrop, and have been staking it for about a year.

It's great that the site will discuss crypto futures more. I've traded futures a lot longer than I have traded crypto, and really enjoy discussing both.

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Legendary Market Wizard
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SMCJB View Post
How you guarantee you can withdraw? Whats the chance there's something in the code you or somebody else doesn't understand? What happens if dYdX gets wiped out?

This is exactly what I mean....

Yearn Finance DAI Vault ‘Has Suffered an Exploit’; $11M Drained
https://www.coindesk.com/yearn-finance-dai-vault-exploit

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I am very new to cryptocurrencies, can someone guide me, please.

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LA+Washington
 
 
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Any Learning links, YT channels will be appreciated. Thanks!

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maxiepro View Post
I am very new to cryptocurrencies, can someone guide me, please.


maxiepro View Post
Any Learning links, YT channels will be appreciated. Thanks!

The Bitcoin Standard: The Decentralized Alternative to Central Banking
by Saifedean Ammous
https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861

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maxiepro View Post
I am very new to cryptocurrencies, can someone guide me, please.

I have been inactive for a few months (personal issues)
But would also like to get more into crypto.
I have had a very small amount in LTC and a few other altcoins for a while.
I"ve never owned any BTC.
Because of the Dogecoin mania, I received a few alerts and purchased a few of those also.

I need to get up to speed in this as I am about to retire and will have a lot more time to devote to trading again.

I use Ninjatrader for my futures trading and would like to use that to view/trade crypto but also would like to open a longer term (I assume staking account?) for crypto.

I looked at FTX.us and it seems as good as any but at this time I have not made a decision about the type/amount of trading I will be doing and if FTX will be able to meet all of the needs.

I've been reading a lot about these topics but as always, the best advice has always been found on Futures.io or (formally BigMike's). Hopefully I will be in a position to stay up on this.

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Legendary Market Wizard
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Only futures contracts are CME Bitcoin (5 Coins, current notional about $275k), ICE Bitcoin (1 coin, current notional about $55k) and CME Ether (50 Ether, current notional about $100k). So not many 'pure' futures opportunities, and large contract sizes for something so volatile for the few that do exist.

I have little experience with other crypto-exchanges.

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Not knowing what the heck I'm doing, I opened an acct at Crypto.com.
As a US citizen, they only allow trading on their app. I assume that is because it is not supposed to be done. BUT... It works.

I purchased some DOGECOIN and a few CRO. (their in house coin).
To my surprise, the DOGE did almost nothing and I noticed today that it is down from my entry.

But I also saw the CRO go from my entry of .102 to over .250.
As an experienced trader, that parabolic rise was not a good sign so I sold it at .230 when it retraced. A nice little profit for less than a week.

I think beginners luck was all that it was. I can't say I knew anything about it other than experience in trading markets.

Today DOGE is sucking so I will watch it and probably get more, if the chart indicates to do so.

On another topic.
I saw an exchange called Kucoin.
It seems they don't require and KYC and ANYONE can get an account with just an email address.
I have heard that this type of exchange could be a problem with a US citizen in the future.
Does anyone have any experience with Kucoin?

Thanks

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I've used coinmarketcap.com to research exchanges.

Link: https://coinmarketcap.com/rankings/exchanges/

Kucoin is listed as #8 by volume. I think the "average liquidity" column is supposed to give a sense of the quality of liquidity / fills. You can look at the individual exchange pages to get liquidity scores for each coin they have.

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Legendary Market Wizard
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@DavidHP you do know Dogecoin was created as a joke?

https://www.forbes.com/sites/billybambrough/2021/02/21/one-cryptocurrency-account-holds-36-billion-dogecoin-worth-over-2-billion/

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SMCJB View Post
@DavidHP you do know Dogecoin was created as a joke?

Yes, I knew that before I purchased it.
When Elon Musk started pumping it on Twitter it exploded in value.
I have not problem making $$ with jokes.

Thanks for the link

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