I have been using several cryptocurrency exchanges (and wallets) for quite a while, so I guess I have some experience with different cryptocurrency exchanges and could tell some more about them and why I use multiple and what my experiences are.
Other cryptocurrencies I am using are:
- Coins.ph (the Pro version, more below);
- PDAX (please use referral code REF-4be9534d8ca3, more below);
- KuCoin (more below);
- Bitvavo (more below).
I am not fully sure how I got to Kraken, but I think I just searched the internet and found Kraken to be the best choice for a cryptocurrency exchange. Ah, I remember I installed Bitcoin Core, only to find out that I didn’t have any Bitcoin, so I was searching how to get some. Not easy at the time. I had no clue and ended up in all kinds of strange places. I guess newbies in the cryptocurrency stuff might still end up the same. And right now I guess it is even much more difficult with all the KYC requirements, yes, the governments are scared now, and they should be.
As I live in The Philippines and don’t want to be dependent on one cryptocurrency exchange I also signed up for PDAX (please use referral code REF-4be9534d8ca3). At first I was amazed, as I got a lot of ‘offline’ and ‘maintenance’ messages, but I have been using PDAX (please use referral code REF-4be9534d8ca3) more, recently, and they have some benefits over Coins.ph. Main issue is that especially their fees for sending cryptocurrency are pretty high, so they are not that suitaCoins.ph_ble for sending small amounts (like lower than USD 1,000.00 or so).
What I like about them is that they have very good support that is very friendly and responds very, very fast.
I am not fully sure how I encountered Coins.ph, but is is my major gateway for sending money abroad from The Phlippines, although recently I decided to use USDT and USDC to move money around instead of Bitcoin, so I started using PDAX for that, regardless of the high fees as the volatility of Bitcoin doesn’t make it suitable to make money transfers, unless you also want to take risk (speculate…).
I have always been happy with Coins.ph, but their recent requirement for additional verification made me very scared. I understand cryptocurrency exchanges are probably under immense pressure, as governments are slowly getting the (international money transfer) implications, but you can’t just lock up considerable funds. And right now I often keep the equivalent of several thousands of dollar equivalent in exchanges, so I won’t have that locked up.
I felt like a criminal, where I have done nothing wrong, and I still believe the ‘innocent unless proven guilty’ legal principle. So even if I didn’t submit documents according to the latest requirements, I believe nobody has the right to lock up funds without cause.
I was kind of forced to sign up for KuCoin as that is one of the few exchanges that supports ETN (Electroneum). See elsewhere in the site how I got into that.
KuCoin seems to be about fun and games somehow, but they are also just an ordinary exchange.
I was looking for a cheaper way to get money back into my Dutch (fiat currency) bank account, which is how I ended up with Bitvavo, that seemed to be one of the major cryptocurrency exchanges in The Netherlands and I guess still is.