Exchanges-The ins and Outs

Today we will be discussing the way to choose a good exchange. I have in recent weeks been using My Android Coinomi app because of the fact Cryptopia has increased the withdraw of the litecoin which is too much over the network fee. So I have stopped using them as of this day.

Let us look at the network fee for sending or withdrawing Litecoin, 0.001 (LTC) is the Minimum fee per KB for non free transactions (creating). With that being said, Cryptopia refuses to allow a withdraw from your wallet unless the minimum is 0.1 (LTC), that is too much above the minimum and is the reason all goes to my Coinomi witch is based on electrum technology.



If you happen to be mining a coin that the App does not support try to mine one, or use the following two good exchanges, Bleutrade, or Poloniex. These two exchanges do not have a high withdraw amount, and the fees are reasonable. I recommend either or both of these exchanges. I do use Poloniex or Bleutrade to exchange certain coins.



Now let us understand that when you look into an exchange, do not merely pick the exchange because they have the coin you are wanting to mine listed. The idea is to change the coin over to ones that would be the easiest, not at the expense of the exchange to take more from you.



For all Android users I personally recommend Coinomi, and Shapeshift they are a great source for us miners.


















Coinomi

Shapeshift.io

Cryptocurrency Knowledge base.

             Today we are going to explore the fundamental flaw in people's thinking when it comes to living on cryptocurrency. What the frame of mind should be is when it is staking in the wallet your paid, and if you do not need it leave it in the wallet to keep gathering interest.

                 Let us think about how illogical it is to just place your bitcoin on your debit card every two weeks or every month,if you are lacking in pool mining. So you have your bitcoins on your card, they are not gathering interest, they are not working for you and you are in the same boat as if you were given a paycheck. This is the flaw with working. Not only has science proven that people that work an eight hour day is unhealthy, but the money is in your face and you spend it.

             Do you not remember the intelligent quote, “ The major reason why the middle class and poor struggle is they buy luxuries first, where the rich by needs first and luxuries last.”

            Now let us analyze the right strategy. After your coins that are mined are payed to your wallet, you need to determine which staking coin is a more stable coin with good stake. Then you trade your coins you have mined to that coin and send it to that wallet and let the coins stake.

                    What you need to do is always leave your coins in the wallet, and only withdraw what you need at a time, which will leave the rest to continue earning stake/interest. By doing this always you will see

that it is much easier to earn a good living, rather than the old way which forces you to basically exchange all your hard earn money to give it right back to the criminal bankers. You now have the opportunity to keep money in your Bank. The Bank of you. You are the Bank. You have control.

Now that you see you have control, why not use self-control and leave what you do not need in a staking wallet to earn interest. The stake is really better than a savings account, and you will never be charged an inactivity fee. Now is the time to understand this a little more. Time to really be in control. This was basic knowledge base, and now it is up to you to determine your life.

BEWARE OF FAULTY EXCHANGES

 Now  before you go off and defend this exchange I will show you the difference between a faulty exchange and a good one. The Faulty Exchange in today's article is YOBIT.net.

 Now I have done some trading with them, but lately their support has been lacking, and their wallets for some reason are in maintenance for far too long. Another problem I have is even though the wallet says online the withdraw is temporarily off. This has all the red flags of a scam exchange.

Let me show you. The coin I stake is 1337, this is only one of my staking coins, but you will see for over a month the wallet has been unable to withdraw or even trade

Now if you look at the picture above you will see that this particualr coin has been in maintenance since December, but it is working fine on Cryptopia, as well as  POSWALLET.COM.

Here is the picture to show that this coin has no problem staking, so I beg to question why is it only YOBIT has this problem?

I use CRYPTOPIA due to the fact of many other abilities it has, for example, mining, marketplace, as well as others. This is a good sign of a well polished good exchange.

These are some signs as to which exchange to use. YOBIT has not passed the quality control check on a secure or even a reliable exchange, and for all Cryptocurrency earners, you should never reccomend an exchange like YOBIT that does not meet the same standrds as others.

I usually do not print a straight complaint without some evidence, so if the support kept a good communication this article may have been avoided, but I will post the images of the conversation, and you can see for yourself that one response to several questions is never enough. 

I hope This article helps those when choosing an exchange.