Lowest fee crypto exchange Reddit 2022

First and foremost, you’ll want a secure exchange. As crypto has grown more popular and desirable, it’s become an increasingly large target for hackers, and many leading exchanges, including Binance’s international operation and KuCoin, have been hacked recently to the tune of tens of millions.

While exchanges often reimburse those whose coins are stolen through their insurance, you probably don’t want to be in that position to begin with. That’s why it’s important, to minimise your risk, you only invest your money on reputable exchanges.

You can further minimise your risk by spreading your crypto purchases across multiple exchanges or moving your crypto off of an exchange’s default wallet to your own secure “cold” wallet that is not connected to the internet (and therefore much harder to hack), though you’ll need to keep up with your passcode or you could lose access to your crypto forever. But you’ll also need to look out for withdrawal fees when you move crypto off of an exchange. These often vary by coin type.

Also consider the cryptocurrencies available on a given exchange. You might be perfectly OK using a crypto exchange with only one coin if it’s the only coin you want. Conversely, if you’re a crypto-phile, you may want access to all of the more than 600 available on Gate.io.

But sheer availability of coins isn’t sufficient if there are no trades happening. You’ll ideally want to see hundreds of millions of pounds of daily crypto trading happening to ensure you’ll have enough liquidity, so you can easily trade your coins and sterling when you want or need to.

If you’re an advanced crypto trader, you may want to make sure your preferred exchange offers the trading types—like limit orders, which can prevent slippage by setting a hard price—and margin you want. Remember trade types involving the latter are still evolving, so different exchanges’ offerings may vary over time.

If you’re just getting started with buying cryptocurrency, look for an easy-to-use platform with thorough educational resources to help you understand this complex, rapidly developing commodity.

And don’t forget about fees. You may be fine with paying a premium for a simple interface when you’re still learning the ropes, but higher fees eat into your eventual returns. High-frequency traders especially want to lower costs.

Finally, don’t assume that an exchange is available in the UK just because you can access its website.

And remember picking the best crypto exchange can be complicated, and the factors above are some of the key considerations.

When it comes to websites where a new trend is going to blow up, Reddit is usually the place to bet on. If you are looking to keep up on the latest crypto exchanges, crypto brokers, crypto moons, and anything else related to the world of crypto, then you should be checking out Reddit at least a few times a day, every day.

What is Reddit?

In the simplest way possible, it is like a modern forum, where people can post pretty much anything. It is made out of subreddits, which are basically sections of the site related to a certain topic. For example, a subreddit called /r/Bitcoin will have all posts related to Bitcoin, /r/CryptoMarkets will have posts related to crypto markets, and so on.

The quality of posts is controlled by the community, so Reddit is often referred to as a network of communities. If a post is interesting to many, it will get upvotes, and if it is not related to the topic, it will be downvoted.

What is the Reddit NFT?

Not long ago, Reddit decided to release their NFTs called CryptoSnoos NFTs. You can get the official Reddit NFT by purchasing them on the platform’s market. You can also buy them only with ETH from your MetaMask wallet. If you do not already have MetaMask, you definitely should.

The CryptoSnoos on Reddit actually does have some kind of purpose besides just having them in your NFT collection for bragging, as they are avatars that you can use on your profile. Some of them are one of a kind, which have the “legendary” status in the Reddit NFT marketplace, while others are limited (“epic” ones are more limited than “rare” ones).

Read Also: Crypto Wallet Explained

Reddit’s cryptocurrency

MOON tokens are the cryptocurrency that Reddit users can gain by simply being active on the platform. It is worth noting that this is the official cryptocurrency of the /r/Cryptocurrency subreddit. This cryptocurrency can be used as any other if you happen to get your hands on it, and you can even cash it in on certain crypto exchange platforms for fiat currency.

The best way to get your hands on this is to simply acquire a lot of karma by posting good content on Reddit. But you can also hope that someone gifts you some of their MOON tokens if your post brightens up their day.

© Bitcoin.com

What are the best Reddit crypto subreddits?

There are a lot of subreddits with various information, but some are more popular than others. Of course, that is not random, as certain crypto information is more valuable than others, and it also attracts more people.

1. /r/bitcoin

It is no surprise that one of the biggest communities on Reddit related to crypto is for the coin that started it all. On this subreddit, you can discuss everything related to Bitcoin, from memes to new information. There are some ups and downs to this subreddit, and that is the part where the community is a bit too big, so you will often see a lot of posts, but a lot of them can be useless. The discussion is also extremely rapid if a thread is popular.

2. /r/btc

This subreddit is pretty much the same as the previous one, but the community is much smaller. Because of that, it is easier to find higher-quality posts and get into discussions without having your opinion lost in a matter of minutes due to high traffic. Our advice is to follow both subreddits if you are interested in crypto.

3. /r/CryptoCurrency

While the previous two subreddits highly focus on BitCoin only, this one focuses on pretty much everything related to crypto. Whether you are looking for crypto moons to get onboard before they rise in popularity, crypto exchanges where you can start trading before anyone else, or maybe just have a good laugh at a crypto meme, this is the subreddit for you.

It is the biggest subreddit at the time of writing this text, with over 4.4 million members. You will always have a few thousand people online at the time, which, like the /r/bitcoin, can be a bit problematic if you want to join a discussion on a post. Regardless, it is the best subreddit by far for all kinds of information.

4. /r/NFT

With NFTs becoming extremely popular, it is no wonder that this subreddit is booming in popularity. Here, you will be able to find everything related to non-fungible tokens. Whether you are looking for new NFT games to play, or if you are looking for a new NFT marketplace that just opened up, you will find that info here. There is also a discord where you can chat with members in real time.

5. /r/BitcoinBeginners

If you are new to the whole crypto scene, then this subreddit can be quite helpful. You can get answers to all the frequently asked questions, and you can also post a question about crypto in case you are not sure about something. Of course, while people mostly want to help each other out on Reddit, you should still take every piece of advice with caution, as there are always people who just want to troll or scam someone.

6. /r/Ethereum

Being one of the biggest altcoins out there, it comes as no surprise that Ethereum is one of the biggest and best subreddit out there. You will easily find all the news related to Ethereum or anything related to app development that this technology is used for.

7. /r/binance and /r/coinbase

Both of these share the same idea: they are subreddits for one of the biggest crypto exchanges out there. They have solid communities, and you will learn about any interesting activity on the platforms by keeping track of the posts on these subreddits.

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