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Notes on cryptocurrency exchanges (last updated on - 2018 09 03)
All crypto-exchanges:
- are registered and/or operate in a specific country - which may impose rules on the local exchanges;
- allow registration and trade for non-local/foreign persons
- the process of registration requires submitting documents - driver's license/national id card/passport, and utility
bill/bank statement as proof of address;
- besides a fiat currency transfer, to start trading the user can do a deposit of cryptocurrency, then sell to convert to fiat
Individual exchanges:
hitbtc , livecoin , bitfinex
, exmo , bittrex , wex.nz
, bithumb , quoine , kraken
, cryptopia , kucoin , binance
, poloniex
hitbtc -
website
livecoin -
website
bitfinex -
website
initial note - currently there is only one symbol used in trading; the exchange's api allows getting information of
only 1 symbol every 2s; an alternative method for price quotes allows getting notifications when the price changes;
we are in process of adding support for this way of price quotes and will be listing additional symbols for trading;
exmo -
website
initial note - the site quotes 1 price used in buy or sell; most other sites have 'spread' - difference between the price
to buy and the price to sell;
bittrex -
website
initial note - starting Aug 2018 the exchange allows direct deposit from US bank account by authorized pull of funds
through ACH transfer;
wex.nz -
website
initial note - price quotes for the same symbol differ significantly from prices on other exchanges; one possible
explanation is the US dollars to USDT (tether) exchange ratio; most other exchanges the ratio is close to 1:1, and on wex is it not;
bithumb -
website
initial note - trading in Korean won (KRW) fiat currency; the exchange is welcoming foreign traders; to start trading -
deposit cryptocurrency and sell to get KRW;
quoine -
website
initial note - occasional erratic behavior of 'ticker' - price quote on some symbols;
kraken -
website
initial note - currently (Sep 2018) disabled for automatic trading; why?
the exchange places a limit on api calls for the reason of DoS (denial of service) attacks; most likely the real reason is
not spending on infrastructure;
the result of an elaborate formula gives the timing as 1 api call in 7 or more seconds; non-compliant user of api is placed on 15 minutes 'temporary lockout';
however the exchange is not honoring even this promise - in our testing continuously doing 1 call per 20-40seconds still is resulting into 'lockout';
the automatic trading system keeps placing buy and sell calls, and checks the status of the trades and the funds into the wallet;
refusal to provide information during a trade is unacceptable - that's why automated trading on kraken is currently disabled;
cryptopia -
website
kucoin -
website
binance -
website
poloniex -
website
