Friday, January 3, 2014
Picking An Exchange!
Picking an exchange is the first thing you have to do, and this part is the most time consuming thing in the world. There are so many to pick from but they can vary greatly depending on your needs. Some of them like MtGox make you go through a rigorous verification possess that can take weeks to complete. They say Bitcoin is anonymous, and it is UNLESS you use an exchange. There are however a few places to trade Bitcoin that don't ask for such detailed info as long as you don't cash out with USD or any fiat currency. Btc-e is a good exchange with all the coins in one place, but the problem is if you don't verify the account they put a month hold on cashing out. However they do offer a Bitcoin payout option with a daily limit. If you do verify your ID then you can cash out with a wire to your bank account. With Btc-e the UI is very simple, and the price changes very well from a day trading view. I have tried to use Bitfinex it is currently in a Beta phase, but is very good so far from what I have noticed. You can cash out in Bitcoin very easily with no daily limit. Of Course tho there is a verify process to cash out with fiat currency. At Bitfinex the price doesn't change that much so as a day trader it is difficult to use in some sense. I will keep you all updated on what I pick when the Bitcoin I am in a contract to mine are deposited to my Wallet. Share +1 Enjoy - Hunter Maxwell
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