Ok,
So after trying Coinbase to buy some Cryptocurrency (CC) I gave up with their tiny limits and decided to try the next exchange on my list. My criteria for an exchange at this point was still that they had to accept credit card purchases since I wasn't terribly comfortable with the idea of making a wire transfer to some place overseas that I wouldn't see deposited for 5-12 business days later.
I was also learning that where ever I decided to exchange and purchase bitcoin and other altcoins from the process of getting approved wasn't going to happen overnight. With the markets moving quickly (downward) this delay probably saved me some cash.
The next exchange after Coinbase that I decided to try out was CEX.io. One of the older exchanges it had a good reputation, accepted credit cards and had a UI that wasn't horrible (but nowhere as nice as Coinbase). After going through the verification hoops (credit cards, pictures of ID, proof of residence, Drop pants and cough) my credit cards were registered and I was off to the verification waiting room. Verification of ME took almost no time but after waiting more than 2 weeks for my credit cards to be accepted I turned to the forums. Luckily I found a review forum where their support team seemed to be monitoring and responding to other frustrated traders that just wanted to be approved and allowed to purchase. I made a complaint and mentioned my ticket number. Next day my credit card was verified and I was good to go.
CEX.io:
Perks: Accepts credit cards, High limits once accepted, 30K/month and 3K/day. Can purchase multiple cryptocurrencies. Also, have relatively low fees compared to some other exchanges.
Downside: Like most exchanges, they are completely overwhelmed with the volume of new users and while they have said they are training new staff and trying to improve processes many of these companies have Chief Compliance Officers that have to personally approve every new account.
Summary: This is my go to account right now for buying ETH and BTC. While it's frustrating that you can't trade other CC here its easy to move ETH or BTC once you buy it with a credit card to Kraken where you can buy other CC.
Next on the exchange review list: Changelly
@jeremyhill
Nice writeup
Good job
Keep it up.
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