POLONIEX & YOBIT - Why I trade like this

In this post I will discuss why I use two completely different exchanges for two completely different reasons trading Bitcoin and Altcoins. I like to spread my investments into many different platforms because of my prevention rule, prevention of loosing everything. Trading is risky and can cost you if you don't do proper research and nothing is garanteed, but riding the wave as it goes is what I'm all about.

PolonieX

PolonieX in my oppinion is most probably one of the safest and oldest exchanges arround and they don't just list any coin or new cryptocurrency that comes arround. Most of the coins listed are well established coins and have rather predictive paterns if you have been trading for quite some time. I would not say I'm a pro trader but I can make a living from trading on PolonieX Exchange. With low fees ranging from 0.15% - 0.25% I see it as a very profitable site, and the withdrawal fees are vary reasonable compaired to many other exchanges.

Pro's

• Supported Worldwide,
• Actual Cryptocurrency Purchases, real trading,
• High liquidity,
• Supports numberous established altcoins,
• Very secure despire the 2014 hack, major security improvements have been made.

Con's

• Bulky website and can load slow at times,
• Slower loading of the website,
• No advanced Order types,
• Maximum withdrawal $25,000/24 hours,
• Pump and dump culture.
• No referal program,

Overall PolonieX is a great platform especially if you prefer trading altcoins.

Yobit

Yobit is definately not one of the safest platforms to trade on and not the most secure, but I trade with yobit for a couple of reasons, the main reason is for their support in Bitcoin and Altcoin Forks. When a new fork goes down you will be compensated for the Bitcoin or Altcoin held at the time of the Fork. Another reason is for the amount of 1 to 10 satoshi coins they have and the big pump and dumps, you must keep an eye on it because its easy to make anywhere from 10 - 1500% in a matter of minutes but you can loose just as easily. The also offer a great referal program and can be rather rewarding.

Pro's

• Competitive fees,
• Fiat currencies accepted,
• There are more than 250 altcoins/tokens to be traded,
• Decent trading platform.

Con's

• Unknown Company background,
• Extremely high withdrawal fees,
• Wallets not always working and experience allot of wallet maintenances,
• A lot of negative comments from users due to slow customer support,
• High rate of Pump's and Dump's (can be seen as either good or bad).

Overall you can make a lot of profit realy fast and some new coins offer investment opportunities through the investbox option offered by the exchange. A big plus for me is that I don't have to disclose my private keys when ever a fork happens to get rewarded.

Final Thought

Nothing is garanteed in any form of trading or investing and therefore you should create rules to maintaine a healthy earning habit as well as distributing your investments troughout numberous platforms in many different ways to prevent loosing it all. I believe this article added some value and if you want to be updated on simmilar articles and more about cryptocurrency be sure to give me @cryptoscout a follow.

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