Chris Herd

@ChrisHerd

How I Buy and Hold my Crypto and Why You’ll Make more Money Doing the Same

Do you use CoinBase to buy and sell your Crypto?

If so, why?

Do you realise how much money you are losing in the form of transaction fees? It is something that very few people pay attention, but the thing which means you pay a far higher price. Instead of paying the required price you pay CoinBase a commission for facilitating the transaction for no reason. Some might argue this is the price of using a trustworthy service, I would suggest it is due to a lack of knowledge or understanding of available alternatives.

The irony is it that trading a currency designed to require no intermediary is most frequently done so on the exchange which charges the highest commission

The alternative I use is Binance

The most simple reason for this is that the fees are 0.05%

For reference CoinBase charges 1.49% for the same services

The other reasons are related to choice

I wanted a route to trade on alternative coins. CoinBase offers no opportunity for me to buy, hold or sell Ripple. I wanted to buy Cardano and Digibyte but had no means to do so through my CoinBase account.

This set me on a journey of research to find the best alternative. I wanted something which was secure — Binance has never been hacked — was founded by industry veterans, included a larger number of coins, was easy to use and the newest products atre regularly added according to user demand.

Binance ticked all the boxes

The user interface is easy

I feel safe if I allow my coins to remain in my account when trading them frequently while transferring them to a hard wallet is simple and quick

The company is supported by a number of prominent Crypto insiders who have an abundance of experience in the space

Binance has allowed me to purchase more coins at a lower price

I have had the opportunity to buy Ripple before it was widely aknowledged, and profit from its run up of 10X in just a few months

I couldn’t do this on CoinBase

While insiders there profited from the botched listing of Bitcoin Cash I was able to more freely and easily exchange my coin for Alternative currencies.

The problem with the established brands is the shortening of the runway left for significant increases in value.

As the market caps for these companies touch hundred of Billions — how high can they conceivably grow in value?

This is what set me on a path to an alternative

That is why I chose Binance (my referral link)

More by Chris Herd

Topics of interest

More Related Stories