Specific instructions for Exchanges
Supported Exchange Guide
This is an abbreviated list of global exchanges and some of the cryptocurrencies supported.
A coin must be supported by General Bytes to be listed on this worksheet.
This sheet will be updated periodically to include any comments (below).
Choosing an Exchange:
We cannot recommend any Exchange, for it's impossible to predict your specific region, risk tolerance, credit history, and business style. These decisions are part of the legwork you must do to run your Operation. We give you choices, but General Bytes can’t make those choices - for you. We also will not divulge your competitors' practices or information - please don’t even ask.
Here are some notes:
BUY Strategies:
Coinbase purchases require up to 5 business days to clear. This limitation makes them unsuitable for Strategy "1" (buy on exchange and send crypto directly to a customer wallet).
Kraken requires "whitelisting" of wallets in their setup, which makes them unsuitable for BUY strategy 1 (coins are purchased on the exchange and sent to the customer directly from the exchange).
SELL Strategies:
When using "Strategy 2: sell coin on the Exchange", always bear in mind that the Exchanges will require a minimum of X confirmations before it will permit you to sell the customer's coin. Thus, you should keep enough BTC in your Exchange wallet to satisfy the immediate SELL amount a customer may submit. This will help prevent "NOT ENOUGH COINS ON EXCHANGE" transaction errors.
Download this PDF file: