Binance Jersey or Binance
So I live in Europe and I want to start day trading with Binance. My initial plan was to use Binance’s deposit system that has an in-build 3rd party service for depositing money from a credit card, in order to day trade. I recently discovered this Binance Jersey “counterpart” of Binance.
I want to be able to perform a quick day trade and each time store my profits/loses in a stable coin, such as tether or true usd.
Do you think I could day trade with Binance Jersey? Or instead attempt with Binance?
Thank you for your time!
I don’t think Binance Jersey has the volume for day trading just yet, its mainly designed as a fiat on-ramp for EU and UK customers. Might be a good place to buy your coins, but the trading is much more lively on Binance!
Use only binance, binance Jersey is New and to avoid because of the insane KYC.
For fiat-to-crypto use Coinbase or Bisq.
You can’t “day trade” on Binance Jersey. It is just a Fiat-Gateway of Binance. Unfortunately, there is a little bit low trading volume, but I have used it to get my EUR to Binance. It was very easy to deposit on BinanceJE (bank transfer) and within the same day my money was deposited. Then I transfered my money from BinanceJE to Binance …
However, next week Bitpanda will launch their Bitpanda Global Exchange (BGX) and then you can deposit on BGX with very low fees and transfer to Binance.
The downside with Binance Jersey right now is that the volume is too low, and that often translates into frustratingly long waits and premiums on buys/sells, especially outside of the lively times.
Best to use it as a fiat on-ramp if you want, and then transfer over to Binance for trading or buying. You have more coin choices and trading pairs too.
jersey has a insane KYC process and anti money laundering measures (source of wealth…)
buy crypto with creditcard at binance directly is through simplex, a 3rd party provider with insane fees.
to change FIAT to crypto and crypto to FIAT, as EU citizen, i recommend anycoindirect or coinbase. they also have fees, but their KYC process is not as strange as the jersey one