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!
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Welcome to BitBoy Crypto! The largest crypto channel in all the Interwebs.
My name is Ben.
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.
Now, you can find all the links of today's exchanges by visiting bitboycrypto.com/deals.
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.
Let's just say gas-free limit orders.
But when it comes to DEXs, you won't find any better than BitSwap DEX.
We've got a link to BitSwap DEX on bitboycrypto.com/deals.
Now, let me know which exchanges you believe are best.
Is there one I left out?
Let me know down below in the comments.
Also, if you want more exchange tutorials, drop that down below as well.
That's all I got.
Be blessed.
BitBoy out.