Learn More About Three of the Newest Cryptocurrency Exchanges
With the popularity of cryptocurrencies on the rise, consumers are looking for new ways to buy and sell Bitcoin and other digital currencies online. There’s no shortage of exchange companies out there, and new ones are popping up all the time. Those who are new to the cryptocurrency game might want to take a look at their options, which is why this article offers an introduction to Three of the Newest Cryptocurrency Exchanges before they get started.
Circle/Poloniex
The VC-backed startup Circle recently announced its plans to create a new kind of crypto cantina. This ambitious project will be facilitated by the company’s recent acquisition of Poloniex, an already popular cryptocurrency exchange that has recently been coming under fire from consumers due to service complaints.
Those who are already taking advantage of Poloniex’s services can expect to see some positive changes thanks to the exchange’s recent acquisition by Circle, which has expressed a desire to offer an entirely new type of exchange system that allows users to access a wide array of cryptocurrencies and tokens.
Introducing Circle X
The key concept behind Circle’s intended changes to Poloniex’s existing services is known as Circle X. This project will, theoretically, allow a far wider array of digital token exchanges representing everything from traditional assets to contractual agreements. The company’s officials believe that this will help to usher in a new world in which cryptocurrency exchanges, stock market exchanges, and cash exchanges can all take place on one platform, connecting the digital world to the real world and making it easier for the average consumer to use cryptocurrency and cryptocurrency tokens.
As Circle X begins to grow, it will give traditional exchanges and alternative trading systems a serious run for their money. The company’s CEO even envisions integrating fiat currencies into the company’s existing product models and already has all of the relationships in place to facilitate exchanges using U.S. dollars, euros, and pounds.
Robinhood – The People’s Cryptocurrency
One current mobile app stock trading provider has recently launched a cryptocurrency trading platform in California, Massachusetts, Missouri, Montana, and New Hampshire. The RobinHood Crypto platform will allow users to buy, sell, and track Bitcoin and 14 other popular cryptocurrencies, including Bitcoin cash, Litecoin, Ethereum Classic, Monero, and more. The company’s officials have stated that their intent behind creating this new platform was to democratize cryptocurrency trading, allowing more investors to become involved through its web and mobile-based apps.
One of the ways in which this company is making cryptocurrency exchange more accessible is by offering its customers zero commission trading services. The company also recently announced the launch of a new social media-type platform designed to facilitate discussion among the company’s diverse base of investors online in real-time. Although the feed is currently available only to a select number of people, the ultimate goal is to allow all traders and investors using the system to have access to the feed.
KuCoin – A Modern and Secure Platform
Founded by a group of people with a genuine passion for blockchain technologies, KuCoin offers a modern and secure trading platform for those who want to trade between different cryptocurrencies. Its state-of-the-art platform offers users a safe and straightforward means of cryptocurrency conversion coupled with seamless customer service.
Although the company itself is a relative newcomer to the game, the brilliant minds behind its creation have had plenty of experience working with cryptocurrency exchange and the platform it is built upon has been under research and construction since 2011, giving the company plenty of time to iron out the details and make their services as customer-friendly as possible. Everything from registering an account to trading using two-factor authentication is simple enough for just about any user to understand, and the website’s layout has a clean and modern appeal that is difficult to beat.
Compared to other industry players, this company offers remarkably low fees for both trading and withdrawals along with no-fee deposits. Plus, the vast majority of the service’s already minimal fees actually go back to its users in the form of invitation bonuses and general bonuses. In fact, only about ten percent of the money collected from users is retained by the company for trading service fees. When combined with the company’s dedication to customer service and a financial safety and stability, it’s easy to see why so many users are flocking to this new cryptocurrency exchange platform.
How to Sell BitShares or Trade it For LiteCoin
This blog tells you how to sell your BitShares. What does “sell” mean? Well, if you want to cashout to your bank account, you would trade it for BTC, LiteCoin, or Ethereum, then move it your on/off ramp (such as CoinBase), and then sell that currency and get the proceeds in your bank account. I bought BitShares earlier this year when I heard Stan Larimer speak at a conference. I still believe in it, but the crowd is going crazy right now with LiteCoin and a few other cryptos; so I re-allocated my portfolio today.
Even though BitShares has it’s own exchange, I couldn’t find regular BitCoin (BTC) or LiteCoin (LTC) on it. I ultimately wanted to trade some of my BitShares for LiteCoin. At first, I did a small test using https://wallet.crypto-bridge.org. I was able to do a manual trade from BitShares (BTS) to BitCoin (BTC) and then did a withdrawal to CoinBase. Like I said above, I really wanted LiteCoin, not BTC, but the process worked, even though it was rather confusing. It’s not something I would recommend my elderly parents to do.
Then I kept looking and found https://BlockTrades.us. You don’t have to submit a trade. This is how their site works.
You select the currency (cryptocoin) you are sending (selling), and the coin you wish to receive. The amount is used at this point just to estimate what price you will get; the actual price may vary. You can decide if it’s a fair exchange rate or not (perhaps more about that in another blog). You paste in your receive address, i.e. where you want your new currency to go (LiteCoin address in my case). The receive address is validated after you enter it. Note: If you are converting to BitShares or SteemIt, it asks for the account as appropriate for those tokens.
Then click the “Get Deposit Address” button.
Based on the information above, you go to your BitShares wallet, and make sure you paste the AccountName and Memo. NOTE: It’s best to copy/paste because at first I almost entered “blocktrade” instead of “blocktrades”. Had I sent my BitShares there, that party would not have to return it.
Note: BitShares recently upgraded their wallet. It’s odd to me that they say their “Send” function is “Beta”, yet they don’t offer any other choice on how to send your BitShares. I couldn’t get it to work in Chrome (I could enter the data, but the “Send” button at the lower right didn’t want to work), but it worked fine in FireFox.
As we know, BitShares is fast, and the tokens show up in a few seconds. In the bottom of the BlockTrades.us screen, you can see either pending or completed transactions (probably based on whether the trade was done, and whether they sent the coins to your target address).
If you click on the Transaction ID, you can get the full transaction ID displayed, and go to your favorite blockchain explorer to view it and watch the confirmation happening.
How to Buy EMV Token (or any ERC-20) token with Parity Wallet and EtherDelta Exchange
This video shows you my first experience buying EMV tokens on EtherDelta using the Parity Wallet. So it’s slightly rough in a few places, and maybe later I’ll make a shorter version now that I’ve had the experience.In the video, I bought EMV tokens with a small amount. I suggest starting with a small amount of $1 to $10 to begin with. Make sure you know how everything works before you try a larger amount. EMV is one of several thousand ERC-20 tokens hosted on Ethereum; for full info about EMV, see their website (Ethereum Movie Venture).
from my YouTube Channel:NealsVideos.com
Steps:
- The first step is really to make sure that you have some Ethereum to invest. If you have BitCoin, you might have to trade it to Ethereum first (not covered in this video). Most people have an “on-ramp”, such as CoinBase or CoinMama connected to their bank account. Others uses local dealers to buy BitCoin or Ethereum.
- If you don’t have a suitable wallet available, download one, such as Parity. Download parity from here: https://parity.io/parity.html. This is where you want to store your EMV (or other ERC-20 token). Make sure you backup everything, and save your recovery words somewhere safe (or print them out). If a hacker gains access to these codes, they can take all your tokens.
- Transfer the amount of Ethereum you want to invest to your EtherDelta account. (In the video, I went from CoinBase to Parity Wallet, then to EtherDelta, but the intermediate step was unnecessary).
- In EtherDelta, select the EMV token from the top
- In EtherDelta, enter an amount of Ethereum and click the Deposit key to move your ETH to the EtherDelta Smart Contract for Trading.
Make sure you have a little extra ETH available to cover fees. You might have to wait a minute or two for the transaction to get processed, and you will see the deposited amount.
- In EtherDelta, click the lowest price in the red. You can see how many tokens they are selling. If more than what you want to buy, then type in the amount you wish to buy.
If you want to buy more than that, you will have to buy all of tokens of that order, then repeat the process with the next lowest price until you are able to buy what you want. When you change the number of EMV tokens and click or tab off that field, then the “ETH” will automatically get recomputed.
NOTE: looks like there is no”are you sure button”, so be sure you enter the proper numbers before clicking the blue “Buy” button. - Withdraw your EMV (or other selected and purchased ERC-20 token) from the EtherDelta trading contract to your EtherDelta Wallet
- Transfer your EMV (or other selected and purchased ERC-20 token) to your Parity Wallet (or any other Wallet where you want to store your tokens)
You might have to wait a few minutes for it to process. - Check your Parity (or final wallet). Within a few minutes you should see the tokens your purchased there.
