It is all about minimum orders for Tether/USDT/USD which is very high on Binance. If you read below, you will find Kraken is become a decent US based crypto currency exchange with no ID requirements.
I speak about this course here
See this post is inspired by the last half of this video posted here
For most exchanges on minimum orders
Markets Minimum Trade Size for Bittrex, Binance, and other markets
Binance
https://binance.zendesk.com/hc/en-us/articles/115000594711-Trading-Rule
They want $10 USDT minimum orders which is a lot of early bot testing. I would not recommend this.
Looking at the thecryptobot.com link, you will find the minimum trading is much easier with Poloniex and Bittrex.
Poloniex is Tether (USDT pairs): 0.0001 USDT
Bittrex is Tether (USDT pairs): 0.0005 USDT
With latest news of Bittrex according to the New York Attorney General, I don’t think I want to mess with them. Is Poloniex better? Maybe:
Minimum deposit needed:
https://poloniex.freshdesk.com/support/solutions/articles/1000249112-minimum-deposit-amount
You could also deposit with USDC
https://blog.circle.com/2018/09/26/poloniex-introduces-usdc-markets/
I will tell you many people have complained about Binance lately because of their wonky changes so maybe it is time to switch. The recent Binance hack would not help either. This is the best description I have of them
From the point of view CCXT, trying to download something from Poloniex results in 1 row which is useless. This means I may need a API token which I am now watning to get.
First off when testing, who wants to provide ID with a potentially bad exchange. Here is a list where you can try out by open an account anonymously.
https://www.bestbitcoinexchange.net/anonymous/
Bitmex and HitBTC come up. HitBTC has potential but I know some bit traders who are with Bitmex which are larger than Binance. Sorry but Bitmex has strange symbol names I am not familiar with. This link suggests HitBTC is not the right exchange for small traders with high trading minimums.
https://bitcointalk.org/index.php?topic=3253709
I guess you could say the same about other exchanges as well. Kraken seems ok since they don’t require actual ID. You still need 5 USDT for minimum orders.
https://support.kraken.com/hc/en-us/articles/201352206-What-are-the-verification-level-requirements-
From the symbol list of Kraken, it seems they don’t support USDT no more but only USD which is good!
Kraken Review Rates It As One of The Best Crypto Exchanges from btc
Here are some concerns about Kraken but read the comments
Why Kraken is an unsafe/bad exchange and why you should avoid them from ethtrader
Kraken Review Rates It As One of The Best Crypto Exchanges from btc
I got to give credit to Kraken as they respond to complaints found on Reddit which is rare with competing exchanges.
Another exchange cropping up in these Kraken subreddit posts are a competing exchange called Bitstamp. Using CCXT with Bitstamp results with:
if args.timeframe not in exchange.timeframes:
AttributeError: ‘bitstamp1’ object has no attribute ‘timeframes’
Screw em so it might be Kraken for now
Minimum deposit is small with Fiat currency
https://support.kraken.com/hc/en-us/articles/360000381846-Fiat-currency-deposit-methods-fees-and-minimums
Kraken minimum order
https://support.kraken.com/hc/en-us/articles/205893708-What-is-the-minimum-order-size-volume-
Confirmed for USDT/Tether is 5. Good enough.
NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!
