Users moving from Poloniex to Bittrex. Some Hints on What to Trade!

in bitcoin •  7 months ago

Bittrex was the exchange that had STEEM on the launch but Poloniex is the top volume BTC/altcoin exchange.

Due to last 2 weeks problems there (withdrawals, slow support, lags, site offline) loads of users started moving to Bittrex.

I assume a lot of Steemit users are on Polo and may be moving to Bittrex.

Poloniex Volumes

Bittrex Volumes

Bittrex is lower for now but users are catching.


The amounts are even out pretty much right now.

Coins That Bittrex has and Poloniex Doesnt (for now)

There is loads but i will tell you a few worth buying/checking since they trade on other exchanges and had BIG price spikes in past. I also believe some of those may be added to Poloniex after they fix issues.

EXCL

3 years old fork of DASH (which went to 100USD) but with PoS instead of PoW. Lately roadmap released.

XZC

Coin using zerocoin alghoritm (same as ZEC but released before it) roadmap released lately.

Other Unique for Bittrex Coins To Check

VERGE ZCL GBYTE UBQ ANS EDG
In url just change XXX into coins name you want to check https://bittrex.com/Market/Index?MarketName=BTC-XXX

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I haven't had any problems with polo (yet), but I'm looking with interest to kraken and bittrex.
Just a thought, an increase in traffic could slow down any platform, and in the last few months there was a lot of interest in cryptocurrencies from newspapers and general public.

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Yeah, I used to use BTC-E but bittrex has been my go to! They are great and one of the only ones that require a 2FA for higher withdrawl limits!]]Happy trading

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There is a good argument for having accounts on both exchanges.. Arbitrage being one of them.. Also the opportunity to trade even if one is down or experiencing troubles (like now). As customers move over to Bitrex, some of Polo's issues should improve, so maybe the shift will be a win-win.

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We will have to wait and see, im always taking earnings off the table at my exchanges than moving into hardware wallets. Happy cryptosing for the next few years!

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Diversifying risk by using multiple exchanges is a great idea. Hopefully in the near future decentralized exchanges will evolve to dominate the market.

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Yeah im looking to set up a bot to capitalize on some arbitrage between polo and bittrex

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Man, I don't understand. Poloniex seems fine. It's user friendly, intuitive and work like a charm.
About the coin, I think there are enough. Peace!

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Yeah, thats great! glad your happy. But many people are not. Bittrex has a much better selection and an easier to use interface! Happy tarading, do what works best for you

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Yeah, thats great! glad your happy. But many people are not. Bittrex has a much better selection and an easier to use interface! Happy trading, do what works best for you

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Poloniex has many issues and the response from insiders is underwhelming. Makes me feel growth is being mismanaged.

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Everyone is finally identifying the risk of keeping all your eggs in one basket.
Bittrex is great for sure. Best idea is keep your trading on 2 or more exchanges incase one ever goes down.

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I dont keep the majority of my coins on an exchange. I own the Ledger Nano S and am always taking profits into one of the top cryptos from my other wins! Have fun, the only secure place to store is an offline hardware wallet, or paper! Exchanges are dangerous, be for warned.

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You are absolutely right, its really the best advice. Only so many still keep a signifigant portion on exchanges for whatevwr reason, so if they insist on it please spread it amoung more than 1 exchange.

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Hmm… I'm new to all this; I've moved bitcoin I had in poloniex&bittrex to a bitcoin wallet, but I've still steem and few other small quantity of other coins kept there; so, you suggest to put coins on an exchange just for the time to make the exchange, and then move them away in wallets. Though, withdrawing has a fee, and if I want to exchange more in a near future, don't you think it's better to take the risk of leaving coins on the exchanges?

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I do not think its worth risking, you can have better onlines wallets that are frmo your phone. If you are worried about fee's trying buying more Ethereum instead of bitcoin, which is now up at around 140$ from around 40$ just two months ago! So, its best not to spend. Really. I just like showing people that you can trade. I will do some videos on trading today! and about steem power and powering up! Cheeers Thank you for the comment

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Paying a small fee is nothing to losing all your coins.

Let's say you store 10k coins and got a 0.00001000 transfer fee, that's nothing comparing to losing those 10k coins right? :)

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Well said! I also think that if someone else but you has your coins, you don't really own those coins. Basically if you don't have it in "your hands", it isn't yours. Exchanges can get hacked or shut down... Keep there what you really need to keep there but not more. Oh and yes using several exchanges is the way to go if you want to spread the risk.

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Yeah, offline storage, I am almost always taking profits and moving them off the table in the excchange. Risky bizz nisss

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True that! Better safe than sorry! But in the end, I don't think there is such a think as safe with crypto. Maybe just safer...

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Its more about the freedom than the safety.. B Franklin said it. THose who risk freedom for security deserve neither! Banking freedom for all!!

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Yeah, looks like with the way things are going everyone can be a banker...

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Thanks for the sound warning. Its not the first time I've read this recently. I own a trezor, but it sounds like it would be a good to idea to have a Ledger nano S as well, it seems like its more versatile in its coin holding capabilities. especially for someone wanting to do a bit of trading. Is that correct? followed

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Something about Bittrex says I don't trust it. Can't put my finger on it. If I remember correctly they also require ID to sign up. I'd rater use HitBTC or BTC-e and preferably with small sums at a time.

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yeah, ID requirements are important. its called KYC

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ID requirements are just one way you can know your customer and hardly necessary.

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That doesnt make anysense from a baanking perspecitve. From a bitcoin yes, dont need any of that info. But there is no registered owner to BCT-E is owned anon. So you arent covered by a company of any kind. KYC are standard for anyone who has ever done international business. If you are a business, you will agree. WE like standards and regulations! Cheers.

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I've had a business. I don't have any problem with them providing me information about themselves and hefty guarantees. But I disagree, because it's my ID they're requiring.

WE like standards and regulations!

I like standards, but I never liked the state regulations.

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they dont require ID to signup at bittrex at all

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Good to know ^ Something about them though. I'll check back, maybe they've changed more than I'm willing to admit...

Congratulations @kingscrown!
Your post was mentioned in my hit parade in the following categories:

  • Upvotes - Ranked 3 with 578 upvotes
  • Comments - Ranked 7 with 92 comments
  • Pending payout - Ranked 4 with $ 587,05

I made the jump too . Make sure to check out Trst as well, btw. Vitalik Buterin and Bo Shen are advisors on the project.

Good info. I had moved everything before that mess has started.

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Very intuitive :-) Thank you @bart2305.

Started to use poloniex 2 days ago. Only had problems. Thank you for this post :)

I have two accounts from Polo and Bittrex, If something happened to Polo or Bittrex, I will still have bitcoin. Planning to move some funds to C-Cex and Cryptopia

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I keep everything in wallets. I only keep currency on exchanges while a trading position is open.

Good info as a female learning the crypto game the streets out here can get tough so I have to always be on my game! kidding great info thank you

Bittrex is great, been using for a while now. just dont do an autosell, you get way less than the value of the coin your selling.

Interesting.

shoot, i just made an account on poloniex. Bittrex wasnt working when i tried to sign up

yep I moved my account earlier this week.

I am using Polo but is contemplating to move to or also use Bittrex...

I have my accounts on both, and I have been using poloniex much often due to high user enrollment which make it easier to trade. Now, I also think it's time to use bittrex over poloniex because polo is lagging down and also many users have started using bittrex. The information you provided were much helpful, thank you!

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You are correct. Poloniex is great until you run into a problem and realize they aren't being fixed in a timely manner. Support Bittrex so Polo gets their act together.

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yes! I agree

For the beginners at bittrex i will advise gup and edg tokens for trade. Good projects.

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I see also a lot of potential in GUP. Will look into EDG. Thanks for the tip.

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I just post a blog about it today, you can check. It has more potential than gup actually.

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oh yes i forgot of EDG, added now

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Thanks, it definetely worth for it in future.
I like your blog so i start to follow you.

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It hits 20% profit after this message :)

thank for information, but Bittrex may get traffic and slow soon lol
if this article influence a lot. Well interesting

Lost my faith in Polo a few weeks ago. Moved everything to Bittrex.

I've been trading at Bittrex since I started mining Litecoin in October 2013, when I remember well. Trade history goes back just over 2 years in my account. Never had any problem. I don´t mine any more.

@kingscrown please do frequent updates about this topic because as of now, I am moving my btc funds from my polo and bittrex to my main wallet. This post can make a big influenced to other traders like me. You should not also take the possibility of unpredictable hacking of either of the two. If things get better on the side of bittrex, there will be an increase traffic too and might be experiencing what poloniex been experiencing from the past few weeks or years(as what youve said on your previous post). Again, please do some updates time by time. There are alot of steemians that do trading and probably on alt coins and I'm one of them. Steemit has a big influenced in the cryptography industry. Happy steeming!

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I think Bittrex predicted traffic and made system more scalable but of course time will show

Also on Bittrex: Antshares (ANS)

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Oh yes i will add them, i have ANS too

Good news @kingscrown, which one is best both bitrex and poloniex, thanks

Seems like too many crypto and investors piling into them all in hopes they go from 10 cents to 1000USD like Bitcoin... Just remember it is and will always be KING. Second is Etherium. Third is Litecoin. If you feel like Gambling then Ripple.... Others I wouldn't pay to play

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Sorry to hear that, all while you're here posting on Steemit. And, the fact that you consider Litecoin to be worth anything is pretty silly. It's nothing more than a BTC ripoff on scrypt. I'm sorry, but blockchains are way more than an algo encryption for PoW. We moved way past this over 2 years ago. Oh wait, Segwit... I forgot.... lol.

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I like Crypto, it is the future, But why is Steem not on my list of 3...
Well its guys who upvote themselves, Getting more FREE steem proving how worthwhile it really is...
I will play in it, But like I said, I feel Bitcoin, Etherium, and Litecoin

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I like Ethereum too.

So what is your estimate, is poloniex going to lose it's crown or maybe its existence soon. Personally I think that it's crown won't remain for very long......

@kingscrown Bitrix good exchange. But not many understand it

Using Polo without any major problems. Seems I am lucky.

King I just posted a request for help setting up my Bittrex account, I'm a beginner and help would be appreciated!!
https://steemit.com/bitcoin/@bitcoinforblonds/vol-4-new-to-crypto-s-and-trying-to-set-up-my-bittrex-account-can-you-help-please

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You need email and password, not much :)

Thanks a bunch for all this great information! Namaste :)

oh wow. that is rather surprising. I bet now the poloniex developers will start getting their shit together.

I just bought .39 ethereum and tried to send it to my poloniex and while it says it did transfer, it hasn't registered on my poloniex account. I checked and re-checked the address I sent it to and it's correct. Anyone have any ideas?

Thanks! What do you think about shapeshift? Isn't it a better option?

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Its more expensive but a lot faster

Never used Poloniex, always used Bittrex! XD But to be frank, that was just luck that i chose bittrex first.

We're moving it immediately!

lol poor polo!

I have been a Bittrex user since the beginning. Although I have accounts on both exchanges, Bittrex has always been better for me, for some reason.

Thanks for this info!

Never place all eggs in one basket; as such use several wallets, soft, cloud, hard etc. Learn what is arbitrage and make the best out of it. The cryptocurrency world is just in a stage of stardom ... stars the limit .. but heck let’s face it, either comes back to earth like any other earthling, or eventually stabilizes and shows its true colors.

it would be nice to have more choices

I already moved to bittrex

I like Bittrex great exchange!

I am one of those who made the move to Bittrex.

Good information.

I have a Bittrex account I would use for altcoins Polo doesn't have. I may be switching, but when you make more than 2k per day in crypto because it goes up so much (a good problem to have), hard to get your withdrawals processed!! I've nearly been hitting my max every day for the last week, and my account value holds. :)

good news to some and bad news for others

Always used bittrex when using an exchange. Quick, simple, and shows the us value of coins which is very nice.

jUST opened up me an Acc. 0n 0ver@Bittrex to purchase coins tht are not listed on Poloniex and for in case Polo runs into issues ;)
Great p0st and wow already on your way to $500, you are the MAN!
I need to make this kind of money here on Steemit, I would be living it up ha!

Bittrex is the better service, and as always cryptocurrency holds true to free market tendencies.

I was an "early" Bittrex mover... the result of Poloniex's recent decision to suspend all verified accounts belonging to residents of Washington state. I actually like Bittrex better... even if the volumes are sometimes on the low side...

Nexus coin will be using satellites and shit.

We can only hope that bittrex can handle the increased traffic!!

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Basically what I was thinking :-)

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Hehe, yeah. We can't be having that.

I'm already from the day first on Bittrex.

In my very small experience, I preferred poloniex, something went wrong with bittrex at the beginning. Maybe it was just me, anyway I've still half of my very small stash on bittrex.

I use Kraken and like it.

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i hate kraken's interface... seems very archaic. I love Poloniex.

I've literally never had a problem with polo, i still have funds there now, i think a lot of people get spooked and follow the herd, they put out a press release the other day laying out there long term plans, polo like a lot of exchanges is trying to deal with the sudden surge of new users to the crypto community.

Good article. I was about to start a similair discussion. I strongly advice people to only buy in to cryptos that have a solid background: A solid team, product, advisors, preferably VC investors, etc. Sell all cryptos that don't have this solid background. It's a waiste of money. Besides coinmarketcap.com there is: https://www.coincheckup.com They researched and analyzed every tradable coin out there.

Nice post ...Thank you for sharing...upvoted..resteem and followed....

I've been on Bittrex for quite some time and it's been my primary trading platform. It's good to see others moving to it now. I just hope they have planned ahead so that their infrastructure is ready for all the influx of new users!

The only issue I've ever had was some coins lacked enough volume. With all the new users moving to the platform, that should help. Apart from higher volume, the only other thing that I've liked better on Polo is the price charting but Bittrex's isn't too bad.

Coins That Bittrex has and Poloniex Doesnt

I thought number one to mention would be Golos )

Coins are like software: never finished! So it's good you mention the roadmaps. Very important! Thank you for showing us these coins!

Thank you @kingscrown for this very useful information

I well prefer Bittrex to POLO, No lagoon with Bittrex when you need to make that all important trade! The set up is in my eyes a whole lot better! Just my opinion.

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I have been on both Bittrex and Poloniex. The coins on both exchanges you can expect Bittrex to follow Poloniex.

I traded well on Bittrex with the coins that are not on Polo. I recommend you pick one or some and watch them trade for the patterns from the whales for a while. After you decide you are comfortable with a coin, place a low buy and wait until it fills. Sometimes you hit when it is pumping, other times you miss your projection but if place a sell order and leave it...you will have success.

Now coins that are on Poloniex and Bittrex is easier to trade. Open up the Poloniex website and watch the trading there. Bittrex will follow them and you essentially trade like you are on Poloniex. Also, you find the spreads to be bigger and trading much slower unless is a high volume.

I find it easier to trade on Bittrex and have less stress about performance like i do at Poloniex. Hope that helps.

Thanks for this valuable information! :)

LBRY is another promising coin currently on Bittrex and not on Polo. Worth checking out if you think a service like youtube over a peer to peer network protocol similar to bittorrent is a good idea.

I use KRAKEN.

I feel ... SO ALONE!

I am one making the exodus to Bittrex. Some other coins I would recommend looking into tradable on the Bittrex exchange are Digibyte (DGB), Humaniq (HMQ), and Guppy/Matchpool (GUP).

Great post. Resteemed.

I'm glad to have dumped Polo for Bittrex. Best decision I've made and I haven't looked back.

Just moved to bittrex with a little stack. Now puzzled: no ETHER. What do you use to take some money of the table in case BTC is skyrocketing like crazy (like atm)? Heeeeelp

aaww found it
https://bittrex.com/Market/Index?MarketName=USDT-BTC

I definitely like the user interface more on bittrex and am definitely not going back to poloniex. That whole debacle a week or two ago was enough to scare me away from the exchange.