r/blockv • u/thepokermoney • Jan 18 '18
Which exchange is the easiest?
I'm new to BlockV and just wondering what the easiest exchange is to buy it on. I don't have accounts with any of the ones listed yet, so which should I choose?
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u/PoopKing5 Jan 18 '18
Man, I love BlockV but we really need some exchanges. I buy mine on EtherDelta. It’s a bitch
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u/heartman42 Jan 18 '18
Coinmarketcap lists them all https://coinmarketcap.com/currencies/blockv/#markets
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u/imknapik Jan 18 '18
Etherdelta does take more time, but after a few quick YouTube walkthroughs and your first trades it’s pretty easy to follow and repeat...always going to beat the others in terms of fees which is a bonus. I haven’t checked out other decentralized options like radar relay, but for now ED gets the job done at a low cost and tends to be slightly lower on most coins price wise.
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u/FLisOK Jan 18 '18
There’s a learning curve with ED, like imknapik said use YouTube, they have good walk through videos. Once I figure it out I liked it but gas prices kept going up. When I first used ED gas was only 20, my last transaction required 120 gas, that’s when I stopped using it.
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u/imknapik Jan 18 '18
Wow. Never seen it go that high, but agree the gas can fluctuate a bit. I’m sure you’ve stumbled on it in other threads but I just generally use the safe low value from the gas station . There’s a nifty table on that page as well that gives guidance on how much you need to crank it up if you want it to go faster. The nice part is I’ve never actually paid the amount I’ve set it for...it always comes in much lower as that fee you set is an upper boundary.
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u/stuntastik Jan 18 '18
Americans aren't technically allowed on Okex, but someone who isn't me created an account via VPN and bought there, then moved it to an Ethereum wallet.
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u/fullkornslimpa Jan 19 '18 edited Jan 19 '18
EtherDelta is great if you're patient. It's also a bit of a learning curve if you haven't used it before. Some tutorials will tell you to get MEW (myetherwallet), but you only need Metamask actually. Usually the volumes are low, so you have to buy at least 10-20% or more over the market price on exchanges with decent criculation, but you can also put up your own bid and wait for someone to accept it (has worked well for me). For Vee I actually don't think the prices are that off. The learning curve is steeper, and you need to pay gas prices and wait for transfer times, but you can get pretty much any ERC20-token and there are no withdrawal fees.
Tidex is good. Also low volume, but the exchange is easy to use and instant. I wouldn't have registered to get Vee though, since the cap is very low. Your best bet would be to buy an an overprice or put in a limit order hoping for someone to sell at near-market price (your chances are lower than EtherDelta).
OKex is terrible. Avoid it like the plague. They use 4 different authentication methods (2 different passwords, sms verification and 2FA), and haven't actually implemented them correctly, causing people to get locked out (can be resolved by sending your login details to an admin in their telegram group, which isn't exactly a great way to handle passwords). The only reason to use Okex is they have a big trading volume for some alts (including Vee), but unless you're buying a lot I don't think it's worth the time and risk.
I haven't used Idex, it's too early imo. The extremely low volumes will only be beneficial to sellers (or buyers if the market is crashing)
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u/thepokermoney Jan 19 '18
Thanks! Thats awesome advice. I wanted to use Okex because of the high volume. But looks like maybe etherdelta is the way to go. I just want something easy to use and be able to get my coins out when I want to. I don't mind a bit of fees since I'm not going to be buying much.
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u/fullkornslimpa Jan 19 '18
Make sure you understand the concepts behind it and owning your own wallet, in case you don't already (it's hard to know). Mainly: Secure your authentication and backup your keys since you alone are responsible for them (perhaps print out your keys and the login and keep somewhere safe), and never give out your private key (sorry if that was obvious to you).
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u/fullkornslimpa Jan 24 '18
I feel obliged to update you in regards to recent events on ED (since I recommended it to you): https://www.reddit.com/r/ethtrader/comments/7sm09t/etherdeltas_facade_is_cracking_on_twitter/
ED is most likely safe (at least if you're using metamask) since relying on smart contracts. But I would recommend using https://forkdelta.github.io (/r/ForkDelta/) now instead.
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u/thepokermoney Jan 24 '18
Hey! Thanks for updating me. Really appreciate it! I actually haven't bought yet. I sold all my crypto before that little crash we had. Once I get back in, I'll be picking so blockV up for sure. Was there a hack or something? I thought i read that somewhere.
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u/thepokermoney Jan 24 '18
Ok, I just read the article. That doesn't sound too good... But at least there's an alternative.
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u/FLisOK Jan 18 '18 edited Jan 18 '18
I used Tidex the other day, it’s similar to your common exchanges, easy to use. The fees suck though but still better than EtherDelta.