It is “altcoins on sale” day. And, heck, even Bitcoin is on sale. Here’s the thing you have to understand
about the crypto markets. These pullbacks hurt. You go and look at your portfolio,
and you think, “Like, where did it go? I had all these monies and now
I’m going to have to order some ramen.” Now, there will be a time when it’s go time, bear market time. This is not that. In 2017, we had five distinct 25% to 40% pullbacks. This is now our second one of this bull market,
so there’s more to go. There’s something powerful that happens
during these pullbacks though. You see the compound effects
of your buying points. Last week, you were sitting there saying,
“Man, I wish I had bought more Ethereum under $1,000.” While I don’t think it’s going to go that low, but it’s definitely safe to say
that these altcoins are on sale. Today, I’m going to show you the best
exchanges you can go shopping on. Let’s get it! BitSwap is the hottest new way to trade tokens. Crawling all the top decentralized exchanges, BitSwap gets you the very best price and value for your trades.
Everyday on this channel, I show you
how to make money in cryptocurrency. If you like money and crypto, make sure to
subscribe to the channel and smash the likes. In today’s video, we’re going to be discussing
different types of exchanges and what the best ones are.
So you want to buy some crypto
or make an exchange, how do you do that? Well, first thing you’ve got to do
is find a partner to dance with. And for those of you who
haven’t had girlfriends yet, it’s not as hard as you think. Choosing the exchange where you buy
your crypto is extremely important. Now, one question I get asked a lot is what is the exchange where you can
buy every single coin in crypto? I understand why everyone wants
that question answered. It’s easier to have one place to do all your trades.
Unfortunately, that place does not exist. Sorry. So today, we’re going to be looking at
the best exchange for beginners, the best exchange for Americans, the best exchange for low cap gems, the best leverage trading exchange, and the best decentralized exchange. The best exchange for beginners,
no doubt, is Coinbase. It simply is. That’s why their upcoming IPO or Initial Public
Offering has been valued in the billions. Coinbase is the door for most people,
especially in the US, to come into crypto. It has a lot of the coins people want, the major ones outside of DOT and ADA anyways. But the greatest thing about
Coinbase is it’s easy to use. Its user interface and mobile app
are bar none the absolute best and beginner-friendly platforms in cryptocurrency. There isn’t even really a question about that. It’s kind of hard to mess things up
on Coinbase or make mistakes. Now, it can happen but not that frequently. Basically the only way someone can make a mistake
with Coinbase is when sending or receiving crypto.
The user can still, of course, send to the wrong
address or give out the wrong address, but there’s no opportunities to mess up
what we call orders on the site. It’s because Coinbase doesn’t have orders. Everything is basically done in a few clicks. You don’t have to wait for anything to fill. The major downside is fees. You pay for the convenience there. They’re very expensive compared to other places including the sister exchange of Coinbase, Coinbase Pro. If you feel like you’re ready to advance
from regular Coinbase, you can move on over to the more
advanced exchange, the pro version. Here, you can set up regular buy
and sell orders like a regular site. You can access either Coinbase or Coinbase Pro,
of course, by going to bitboycrypto.com/deals along with all the remaining
exchanges we’ll look at today.
Now, next, in my opinion, Binance.US
is the best exchange for Americans. Binance.US is the subsidiary,
of course, of Binance.com. Binance.com carved out its name in 2017,
becoming the world’s biggest exchange. However, US regulation would eventually force them
to remove American traders from their site. While this was a blow to all Americans, it has certainly turned into a great thing
as Binance.US was born. Binnace.US works hand in hand with regulators to ensure that every coin that goes on
its platform is legit and regulated. I know, in crypto, we hate regulation, but it’s a necessary evil if we want crypto
to climb to the heights we want it to go to. Binance.US has a much longer list
of coins available than Coinbase, and honestly, it’s got better gems. Coinbase seems to always have some kind
of engle for the coins they’re adding, while Binance.US seems to have a better
eye for which coins people want such as Horizen, Enjin, Solana and many others.
Binance.US is a traditional exchange
where you will set buy and sell orders, or, of course, you can do
the lazy man’s way to trade, market orders. They execute instantly. And, guys, I know it’s easy, but you need to stop making market orders. They kill you on fees. But the downside of Binance.US is that it doesn’t
have nearly as many coins yet as Binance.com. If you’re international, you’re still
better off using Binance.com, but for Americans,
there’s none better, in my opinion. So for low cap gems, the best exchange for my money is KuCoin. KuCoin has the largest assortment
of coins available in crypto. Oftentimes, I’ve made exchanges on decentralized
exchanges and got hit with gas fees not knowing that if I had only checked,
those coins were also available on KuCoin. It supports over 200 different cryptocurrencies ranging from larger ones all the way down
to the coins barely in the top 1000.
KuCoin already has a lot going for it,
of course, being the king of the coins, but, in fact, there’s an even
better reason why I like it. They haven’t been bit by
the regulatory bug at least yet. So what this means is they do not have KYC
or know-your-customer procedures aka don’t have to send in documents
or verify your identity. Anyone from any jurisdiction can go there and trade
if you’re picking up what I’m putting down. Oftentimes, if coins aren’t available
on Binance.US or Coinbase, then you can find them on KuCoin. Keep in mind that Binance.US actually
is not available in every US state yet. Almost all of them, but there’s still a few holdouts. So if that’s the case,
you can head on over to KuCoin if you can’t get Binance.US where you live. The best leverage trading exchange,
no doubt, is Bybit. Now, this is a different type of exchange than your
normal exchanges where you go to buy altcoins.
Bybit is a place where you turn a little bit
of money into a lot extremely quick. But be careful because it also
works the opposite way. The way leverage trading works, also called margin
trading, is that you borrow Bitcoin or another asset from a broker and trade with it. If you make money on the trades,
you get to keep all the gains. If your trade’s a loser, then you can lose the entire amount
you have in the trade. On Bybit, you can trade with up to 100 times
the amount of money that you have. The more you borrow, the smaller your window
or margin is for what we call liquidation. This is where your trade loses to a point
where you run out of margin. Then you lose all the money
that you had into the trade.
Leverage trading is the way many
people have become millionaires, but most people will trade a few times
and then give up after some losses. You have to look at the losses as valuable
lessons you’re paying to learn. That’s what’s allowed me to go
from being a pure losing trader to being able to make massive gains on the show
you would see every day if you watch our livestreams. Now, when it comes to margin trading,
in my opinion, nobody does it better than Bybit. It took over as the top exchange
from BitMEX last year. But a lot of things that made people hate BitMEX,
Bybit has tried to correct in the space.
Now, if you want to check out Bybit,
you can visit our deals page. The last category is best decentralized exchange. And for me, obviously, that’s bitswapdex.io. But before I explain why, let’s talk about
what a decentralized exchange is. Binance, KuCoin, Coinbase, etc., are what
we call centralized exchanges. They have market makers, liquidity, policies, choose which coins to list and must
approve withdrawals and deposits. There’s a controlling body that controls
much of what happens on the exchange. A decentralized exchange is owned by no one. Any coin can list there, which can lead to some problems,
of course, like rug pulls and scams. Anyone can buy there. There’s no accounts or approvals needed.
You just connect a wallet like the Coinbase Wallet
or my wallet of choice, MetaMask, which is a browser extension. A DEX acts as a portal between your
wallet and the Ethereum network, and while Binance Smart Chain and
Polkadot are starting to make waves, the Ethereum network is still king,
meaning all the top DEXs are still on Ethereum. Many people believe Uniswap is the best
decentralized exchange out there. However, bitswapdex.io has it beat. Bitswapdex.io crawls 14 top decentralized exchanges
to give you the best price on your trade. We’ve got some pretty cool features
coming soon that will blow you away.
That’s all I got.
Be blessed. BitBoy out..