minimum orders: Binance to Kraken exchange

(Last Updated On: May 15, 2019)

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

Python Algo Trading Infrastructure with Crypto Currency

See this post is inspired by the last half of this video posted here

Stable coin BTC now outperforms ETH lately

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

Beginners Guide to Poloniex: Complete Review

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.

my experience with Kraken from Bitcoin

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.

 

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Hi i there My name is Bryan Downing. I am part of a company called QuantLabs.Net This is specifically a company with a high profile blog about technology, trading, financial, investment, quant, etc. It posts things on how to do job interviews with large companies like Morgan Stanley, Bloomberg, Citibank, and IBM. It also posts different unique tips and tricks on Java, C++, or C programming. It posts about different techniques in learning about Matlab and building models or strategies. There is a lot here if you are into venturing into the financial world like quant or technical analysis. It also discusses the future generation of trading and programming Specialties: C++, Java, C#, Matlab, quant, models, strategies, technical analysis, linux, windows P.S. I have been known to be the worst typist. Do not be offended by it as I like to bang stuff out and put priorty of what I do over typing. Maybe one day I can get a full time copy editor to help out. Do note I prefer videos as they are much easier to produce so check out my many video at youtube.com/quantlabs