Crypto Tips





I DO NOT PARTICIPATE IN PAID REVIEWS OR PROMOTIONS. IF YOU HAVE BEEN APPROACHED BY SOMEONE ON TELEGRAM CLAIMING TO BE A PART …

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I DO NOT PARTICIPATE IN PAID REVIEWS OR PROMOTIONS. IF YOU HAVE BEEN APPROACHED BY SOMEONE ON TELEGRAM CLAIMING TO BE A PART …

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I DO NOT PARTICIPATE IN PAID REVIEWS OR PROMOTIONS. IF YOU HAVE BEEN APPROACHED BY SOMEONE ON TELEGRAM CLAIMING TO BE A PART …

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I DO NOT PARTICIPATE IN PAID REVIEWS OR PROMOTIONS. IF YOU HAVE BEEN APPROACHED BY SOMEONE ON TELEGRAM CLAIMING TO BE A PART …

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I DO NOT PARTICIPATE IN PAID REVIEWS OR PROMOTIONS. IF YOU HAVE BEEN APPROACHED BY SOMEONE ON TELEGRAM CLAIMING TO BE A PART …

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I DO NOT PARTICIPATE IN PAID REVIEWS OR PROMOTIONS. IF YOU HAVE BEEN APPROACHED BY SOMEONE ON TELEGRAM CLAIMING TO BE A PART …

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I DO NOT PARTICIPATE IN PAID REVIEWS OR PROMOTIONS. IF YOU HAVE BEEN APPROACHED BY SOMEONE ON TELEGRAM CLAIMING TO BE A PART OF THE CRYPTO TIPS TEAM, THEY ARE SCAMMERS!

Twitter: https://twitter.com/blockchainchick
Instagram: https://www.instagram.com/realcryptotips/
LBRY: https://lbry.tv/@Crypto-Tips:b
Patreon: https://patreon.com/cryptotips

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I DO NOT PARTICIPATE IN PAID REVIEWS OR PROMOTIONS. IF YOU HAVE BEEN APPROACHED BY SOMEONE ON TELEGRAM CLAIMING TO BE A PART OF THE CRYPTO TIPS TEAM, THEY ARE SCAMMERS!

Twitter: https://twitter.com/blockchainchick
Instagram: https://www.instagram.com/realcryptotips/
LBRY: https://lbry.tv/@Crypto-Tips:b

LINKS FOR ADDITIONAL READING FOR THIS VIDEO & ALL INFO IN TEXT DOWN BELOW:

Video Suggestions:

What to Expect After the Crypto Crash: http://www.youtube.com/watch?v=prqfMa6l32s

Why I Think KYC is a SCAM: http://www.youtube.com/watch?v=FHd03EuK2b4

Is There a Future for Decentralized Social Media?: http://www.youtube.com/watch?v=jwKm0p3lCWA

5 Important Things Crypto Exchanges Don’t Want You to Know: http://www.youtube.com/watch?v=_VcdEovm8u8

My Top Picks for BTC Documentaries: http://www.youtube.com/watch?v=YwLdCxcCJas

Bisq Hack: https://www.coindesk.com/hacker-exploits-flaw-in-decentralized-exchange-bisq-to-steal-250k

Komodo Explains CEXs Downfalls and in-depth look into other DEXs: https://komodoplatform.com/decentralized-exchange/

CryptoBridge KYC: https://www.youtube.com/watch?v=rEanXzJc8mM

Check the volumes/fees on different DEXs: https://dex.ag/

Levels of decentralization to consider and why
Is it just a non-custodial exchange? For a while so many new exchanges were coming out calling themselves a DEX while boasting some VERY centralized aspects. Perhaps due to being called out for this misrepresentation, I’m really not sure, some of them have made the concession to change their vocabulary to call themselves non-custodial exchanges instead.
Not everyone believes that full-decentralization will produce good results. But it depends on what the goals are. For example, user-friendliness, speedy trades (liquidity), organized order book, making money for those who are at the head (CEOs)

Here are some ways that an exchange can be centralized:
Custodianship
Permissioned
Order Books/ Order Matching
How you access it, via website hosted on centralized servers, or from local application? ETHERDELTA HACK
Public figures/Leadership positions (CEOs)
Headquarters

With these in mind, here is what I could find out about the most commonly recommended decentralized exchanges.

Blocknet They are all about blockchain interoperability, so you are able to trade cryptocurrencies from different protocols unlike those who are confined to the Ethereum and ERC20 ecosystem.

Bisq- WARNING OF HACK, bitcoin to fiat gateway, no registration, privacy oriented, peer to peer trades that mostly involve BTC and XMR, servers run through Tor so no threat of centralized servers getting hacked. They operate as a DAO, not a centralized company, but if you wanted to become a mediator or arbitrator your approval is dependent on the DAO’s decision.

IDEX- Very user friendly, similar UI as centralized exchanges, works with certain hardware wallets. Non-custodial but otherwise there are instances of centralization in regards to their order books.

Kyber ETH and ERC20 tokens. Instant swap service rather than an exchange but it does offer the ability to place limit orders. Currently Kyber is NOT permission less, you need approval to become a Reserve to provide liquidity.

Atomic Swap (Komodo) One of the originals pursuing development of atomic swaps, dedicated dev team. Their previous DEX project called BarterDEX required their users to first download both of the blockchains involved with the trade, so that would be very cumbersome for anyone that is working with an average computer or laptop, this new version looks to be much more user friendly by supplying users with a wallet capable of storing up to 25 different cryptos across different protocols, BTC, ETH, and all UTXO-based coins. BUT it looks to be a mobile application.

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I DO NOT PARTICIPATE IN PAID REVIEWS OR PROMOTIONS. IF YOU HAVE BEEN APPROACHED BY SOMEONE ON TELEGRAM CLAIMING TO BE A PART OF THE CRYPTO TIPS TEAM, THEY ARE SCAMMERS!

Twitter: https://twitter.com/blockchainchick
Instagram: https://www.instagram.com/realcryptotips/
LBRY: https://lbry.tv/@Crypto-Tips:b

LINKS FOR ADDITIONAL READING FOR THIS VIDEO & ALL INFO IN TEXT DOWN BELOW

source





I DO NOT PARTICIPATE IN PAID REVIEWS OR PROMOTIONS. IF YOU HAVE BEEN APPROACHED BY SOMEONE ON TELEGRAM CLAIMING TO BE A PART OF THE CRYPTO TIPS TEAM, THEY ARE SCAMMERS!

Twitter: https://twitter.com/blockchainchick
Instagram: https://www.instagram.com/realcryptotips/
LBRY: https://lbry.tv/@Crypto-Tips:b
Patreon: https://patreon.com/cryptotips

LINKS FOR ADDITIONAL READING FOR THIS VIDEO & ALL INFO IN TEXT DOWN BELOW:

Video Suggestions:
5 Things Crypto Exchanges Don’t Want You to Know: https://youtu.be/_VcdEovm8u8
How to Choose Your Crypto Wallet Type: https://youtu.be/xrSsOEtyjfw
Calling Out Fake DEXs (Decentralize Exchanges): https://youtu.be/h_cZyGqjKrs
Why KYC is a Scam: https://youtu.be/FHd03EuK2b4

Additional Articles:
CryptoCompare Exchange Rankings: https://www.cryptocompare.com/exchanges/#/overview

Bitcoin Exchange Guide (as of 2018) Fee structures of exchanges: https://bitcoinexchangeguide.com/lowest-cryptocurrency-exchange-trading-fees-list/

Although I am listing these exchanges here please note that I am not recommending that you store your cryptocurrencies for the long term on these exchanges.
Your next step will be to familiarize yourself with the different cryptocurrency wallet options which allow you to have complete possession of your cryptocurrency investment. I encourage you to watch the videos that I suggest in the video description down below.

Please take your time when deciding which centralized exchange you are going to use, especially if you’re going to be going through a KYC process in order to use it.
These are the basic attributes of a centralized exchange that I look for if I am in the position of needing to use one:

Longevity,
limited KYC (as uninvasive as possible)
insurance fund for theft that occurs due to the exchange’s security practices (no exchange will ensure your funds if they are stolen due to your own negligence or poor security practices)
Coins listed and their volume (determines the speed at which your trades will execute)
What is being said negatively by users of that exchange- if they have trouble withdrawing their funds, if the exchange mysteriously shuts down right before or even during times of particularly volatile price movements are all big red flags.

Here are the specific exchanges that could work for you, along with some pros and cons of each:

Kraken-
PROS: transparent security updates, KYC is handled in house, low fees
CONS: If you want to buy crypto using fiat and you are a US citizen, you’ll have to give them your social security number.

Bitstamp-
PROS: Longest surviving centralized exchange. KYC is pretty simple (again, for non us citizens)
CONS: The fees for trading and withdrawing can be quite high.

I’m saying this one with a big lump in my throat because there is a lot about the actions taken by the CEO of this exchange that I do not agree with but regardless,
Binance-
PROS: Insurance fund covers losses from theft (which they have used successfully in the past) Lots of coins listed, High volumes=faster trades, low fees
CONS: They outsource KYC information to third parties. Like any centralized exchange, if you are a US citizen and you want to use this exchange, you’ll be forced to give up incredibly sensitive information like your SSN.

Coinmama-
PROS: available in 188 countries, long standing, brokerage service allows for quick purchases of crypto
CONS: Minimum purchase of $60 worth of BTC, available in 40 of the 50 US states.

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