The Knight of Ahhrrgg Posted May 16, 2017 Share Posted May 16, 2017 Hi all, As some of you may have noticed previously, I'm on Bitstamp. Simply because of the trustworthiness of the company (including a Luxembourg banking permit). During the past few spikes up for XRP, I've been checking back and forth between the spread that occurs, not between buyers& sellers, but between Bitstamp and Poloniex. Last run was big fun: there was even a 3 $ct spread between Bitstamp and Poloniex. Currently, they are getting more in line again (Bitstamp always being the more 'conservative' one during this run). Now - I do indeed know there is a price differential - Poloniex having the higher XRP/USDT price (most of the time about 2-3%) since USDT is basically an USD.iou versus the USD.fiat at Bitstamp. I do get that. What I'm interested in is this: what might your reasons be to trade at Poloniex? - If you'd want to bail out into fiat --> then I see no reason to be holding USDT. Useless for that matter, since you would then want someday-exploding fiat instead. - If you'd want to switch from the one alt into another alt: I can understand trading at Poloniex given the good volumes there - If you'd want to do arbitrage, there may at times be reasons to use Poloniex But for the long term hodler, and/or those entering the market using EUR fiat or USD fiat - so why bother going through the USDT stuff at Poloniex? Why not : -either use Gatehub (after validation at least from Europe I could fund/withdraw easily from a fiat bank account) -or: with those same features + even a banking permit : use Bitstamp instead? Please share your thoughts on this. I'm not trying to mock or propagate exchanges here - just trying to look from every angle on this. As said, I'm a hodler. Thanks! Link to comment Share on other sites More sharing options...
tulo Posted May 16, 2017 Share Posted May 16, 2017 I usually use Poloniex for CRYPTO:CRYPTO trades, but I always store there not more than 5-7 BTC equivalent (6k-12k USD) because I don't trust them enough. For CRYPTO:FIAT and for Ripple/XRP I usually use Bitstamp and Gatehub. Also to cash in-out Bistamp/Gatehub is a must. Link to comment Share on other sites More sharing options...
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