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Register multiple cryptocurrency exchanges! What are the five merits of account balance?

Register multiple virtual currency exchanges! What are the five merits of account balance?  - shutterstock 749038366 696x465

Hello, this is kaz (@ kazukino11111).

If you are a reader of CryptoTimes, you think that you have one or more accounts (accounts) of the cryptocurrency exchange, have you thought about “superiority by holding more than one account” ?

In this article, I would like to introduce the reason why it is better to have multiple cryptocurrency exchanges accounts.

Five reasons to have multiple cryptocurrency exchanges

Where do you think the benefits of having multiple accounts prepared? Actually, that merit is many.

Brands and functions are different for each exchange

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This is a simple reason, but there will be a difference in the type of currency that is supported by the exchange .

You can trade anywhere if the market value of the currency is large, such as Bitcoins or Ethernet, but the exchanges you deal with are limited in minor currencies and new currencies.

So, if you have an account on multiple exchanges, you can invest in diversely in your favorite currency or choose from a number of options .

In addition, you can make funded investment by exchanges, buy products in cryptocurrency, and get cryptocurrency for free. Since each exchange adds various functions to make originality, we recommend that you also try various things here.

Let’s have multiple accounts from now because it will not be in time to open the exchange of the exchange there after the listing of the new currency is decided.

You can judge by comparing each

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Although this can be said to any exchanges, each exchange has its own function and habit, and there are many things that you actually feel after using it.

There are many articles reviewing exchanges, but as you can also taste preferences by people, it is best to judge from your own trials .

Trying multiple exchanges and ultimately choosing the exchange that you use on the main may be a hand.

Risk distribution

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Risk distribution is a very important factor in cryptocurrency investment. Do you know that it is very risky to put all your assets on one exchange?

For example, when an exchange enters maintenance or server down, you will not be able to trade or deposit / withdraw during that period .

Furthermore, as represented by Mt. GOX and Coincheck incidents, cryptocurrency exchanges are likely to be subject to hacking. If assets deposited in these exchanges are hacked, the possibility that the asset will come back to you will never be high.

What is the point to judge the security of exchanges? – CRYPTO TIMES

In order to prevent these damage, it is also important to prepare several exchanges’ accounts and to distribute assets to some extent.

Furthermore, it is possible to further strengthen security by setting “2FA authentication” etc etc.

【cryptocurrency security measures】 Securely manage assets such as Bitcoins – CRYPTO TIMES

I can do arbitrage

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Arbitrage is a transaction method written as “arbitrage transaction” in Japanese, it is a method of acquiring profits by using the difference of prices occurring between exchanges .

For example, suppose that the price of 1 BTC at the B exchange is 900,000 yen. And suppose that it is trading at 1 million yen at C exchange.

In this case, you can earn 100,000 yen by buying 1 BTC at B exchange → sending money to C exchange → selling 1 BTC at C exchange.

Since this price difference is not open enough to always make profit, it is necessary to check regularly. In addition, it may take a fee to purchase or sell, so we recommend that you take it into consideration and put it into practice.

Arbitrage is a trading method that can make profit gently at low risk if you have even more than one exchange account.

Advantageously at hard fork

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The cryptocurrency sometimes divides by saying “hard fork” . The Bitcoin cache and the euramar classic are the currency that resulted from the hard fork.

Besides this, hard fork of minor currency is done frequently. Whether to correspond to these hard forks is left to the judgment of the exchange, so some exchanges will not handle them.

Also, even among the handling exchanges, there is a difference in the date and time when the currency becomes tradable, so there will be a difference in profit depending on the exchanges you use.

However, if you have multiple accounts, you can choose the exchange that corresponds to the hard fork the earliest.

Three points to note when registering to multiple cryptocurrency exchanges

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There are several points that you need to be careful about when you have accounts on multiple exchanges. Here I will introduce three of them.

Always distribute passwords

Let’s make sure that the password used for registration is different for each exchange. This is to prevent other accounts from being hacked when information in one account leaks out .

Some may think it is awkward to memorize several passwords, but it is very dangerous to use the same password on all exchanges, so avoid it. People who can not remember by all means recommend using a password management application .

Also, let’s not use easy-to-guess character strings such as birthdays, names etc for password.

Distribute email addresses as much as possible

Here is the same reason as password. If you use the same mail address on all exchanges, you will be logged in to all accounts when that email address is hacked .

However, unlike passwords, it is necessary to prepare a mail address here, so it is not necessary to forcibly distribute it. We recommend that you distribute it to different e-mail addresses as far as possible.

Be sure to bookmark URL

Exchange websites are often used for phishing fraud . As a way of doing so, we will guide users through designs and URLs similar to exchanges’ websites and transfer money.

In this case, URLs often do not notice unless they look carefully. Also, it is troublesome to judge whether the site is genuine or not every time, so let’s register it as a bookmark instead of searching each time.

3 domestic exchanges to be registered at minimum

If you are saying multiple exchanges, but you do not know which exchanges you should register with, let’s start with the following exchanges first!

bitbank

Register multiple virtual currency exchanges! What are the five merits of account balance?  - bitbank thumbnail

Popularity Transaction fee Handling currency
★ ★ ★ ★ ☆ All pair transaction fee free campaign 6 kinds

Bitbank allows alto coins to trade on exchanges, and also allows futures trading, so it gathers support from many users. Anyway if you want to buy cheaply it is recommended.

bitFlyer

Register multiple virtual currency exchanges! What are the five merits of account balance?  - eye 170920 2

Popularity Transaction fee Handling currency
★★★★★ 0.01 to 0.15% 7 types

The domestic biggest bitFlyer who may not say boasts the largest number of users in Japan and transaction volume. In addition to being funded by major companies, we are affiliated with Mitsui Sumitomo Insurance and have insurance, so it is the most characteristic that we can use it with confidence.

BITPoint

Register multiple virtual currency exchanges! What are the five merits of account balance?  - bitpoint 001

Popularity Transaction fee Handling currency
★ ★ ★ ☆ ☆ Transaction fee free Five types

It is supported by FX users because bitpoint supports MT4 only at the domestic cryptocurrency exchange. Recently, we are actively expanding overseas.

Recommended registration! 3 recommended overseas exchanges

If you have multiple accounts on domestic exchanges, why do not you upgrade to a slightly higher level and register it at overseas exchanges as well?

Binance

Register multiple virtual currency exchanges! What are the five merits of account balance?  - BINANCE 718x425 e1534729300561

Recommended degree Transaction fee Transaction volume
★★★★★ 0.005 to 0.1% ★★★★★

Boasting the world’s largest transaction volume, Binance is drawing attention as the cryptocurrency exchange which is now the momentum. The company ‘s service, which has attractive features including BNB coins of its own currency, is a value ant to experience.

OKEx

Register multiple virtual currency exchanges! What are the five merits of account balance?  - a1d7b1f654c54f5fab9e1aba0ecaa926

Recommended degree Transaction fee Transaction volume
★ ★ ★ ★ ☆ 0.20% ★★★★★

It is a major cryptocurrency exchange in China and has also tied up with the Japanese bitbank trade. We deal in numerous currencies and are recommended for those who want to see various currencies.

Bibox

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Recommended degree Transaction fee Transaction volume
★ ★ ★ ☆ ☆ 0.05 to 0.1% ★ ★ ★ ☆ ☆

Bibox has many features and wears at the moment, such as issuing unique tokens and granting privileges accordingly, but further growth is expected in the future.

Summary

In this time, if you have an account on multiple cryptocurrency exchanges, it will be risk diversification and introduced that it is convenient in various ways.

In order to make the cryptocurrency life comfortable and efficient, I think that multiple accounts become essential.

Japanese exchanges have to take various troublesome steps, such as identity confirmation and receipt of postcards in opening accounts, but on overseas exchanges it is possible to complete registration in few minutes and so it will be opened on trial It may be good to try.

Well then, let’s meet again next time!

Author: kaz 【Coin Desk News】 – Source Post: https://crypto-times.jp/many-exchange/

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