I've been out of the loop with crypto's for the last few years (3 ++). Used to mine a bit for a while and made a tidy sum at the time, more than I ever have with metals in any way shape or form and in far less time that's for sure even with factoring in about 8K on hardware. Been keeping a keen eye on the markets again the last week or two and the volatility is crazy for sure, up and down like a noggin performing fellatio. Not actually back into trading quite yet but going by past experience, the exchanges transactions were as slow as a drunk paralysed Sloth back when I was on the likes of Cryptsy etc. Is anyone doing any day trading with Crypto's ? Swings like we have seen recently just on ETH alone have the potential for 50+% gains over a couple of days, with many many offering 30+% each and every day/week judging just the swings on http://coinmarketcap.com/#AUD . Are the exchanges still slow as ? Is anyone doing this with any success ? I've seen the new margin trading features on a couple of the new exchanges but have been badly burnt with losses in the past having coins lost (stolen) when exchanges crashed and burned and now like to get them in and out, traded, and back into a secure wallet asap. So I'm wondering what peoples experiences are now a few years on with the newer exchanges, are they still slow to perform transactions? Is it possible to do some quick trades over a 24/48 hr period and deposit / trade/ withdraw your coins back to a secure wallet again or do you use a float you are willing to risk ? I've also noticed on Poloniex at least a two tiered verification process for > $25 K US , is that for fiat or actual balance value ? Are there other exchanges that do not have these sorts of limits ?
For day trading, Poloniex seems to be the biggest and best at the moment with good liquidity. They have been subject to denial of service attacks and when it gets really busy they do seem to struggle a bit but I personally haven't had a problem. On-exchange transactions seem pretty fast, brokerage is low and buy/sell spreads you probably wont find better elsewhere. The 2 tier verification takes a while (expect maybe 1-2 weeks) and one mistake I made initially was pushing funds in and getting caught with a $2K withdrawal limit for over a week while they processed my ID. That limit is for actual transfer value so if you pull BTC or ETH off the exchange it calculates the value in USD and it counts against your withdraw limit for 24 hours. Otherwise I haven't had much issue pushing crypto to the exchange, converting it and pulling it back off pretty quick. I try not to leave any balance on the exchange as I fear a Mt Gox scenario, but I'm not really a day trader (more of a week/month trader)
