Exchanges are fraught with danger, okay?

That's why it's so important to check out and do some behind the

scenes. Binance, this is one of the top crypto trading

platforms in the world. You can get wrecked

so easily. And I heard a stat the other day, which was that some exchanges that

offer up to 100X leverage, 99.9% of people that use 100X leverage fail.

Certain platforms do require KYC and

some don't require KYC, so something else to consider. I'm going

to go through a range of exchanges that you can consider when

you want to buy your crypto or Bitcoin and at the very

end... I'm Matthew Fraser and this is Crypto Collective. After

making millions with Amazon and e-commerce, I realized that

if I was starting again today, crypto would be my first

choice. I'm here to help you take your first steps and

build real wealth. Ready to set yourself up for life? Let's

go. Hi, guys. Welcome to Crypto Collective. My name is Matthew Fraser.

And in today's episode, we're going to cover which exchange you

should buy your Bitcoin and crypto in. And this is probably

the biggest question that comes up in the very beginning because although

people talk about, hey, let's just go buy some Bitcoin, Your

first hurdle is going to be, oh, where do I buy Bitcoin

from? Which of these exchanges is good? What about the fees? Do

they even allow transfers of cash into

these exchanges? Am I going to get scammed is probably a

number one concern of most people. So let's break

this down. I'm going to go through a range of exchanges that you

can consider when you want to buy your crypto or

Bitcoin. And at the very end, I'm going to tell you the

exact exchange that I personally use. and

you might consider using that too. And by the way, this exact topic

was a question that was posed to me because they wanted to know which exchange should

be used. So thank you so much for your questions. And if you've got any more questions that you

want to add or topics that you want me to cover, please put them in

the comments under this video. Okay guys, so before we

dive into each exchange and the pros and cons

and what they do, let's cover some things. First of all, fees.

Now fees vary across the different exchanges. Now

they can range from 0.6% to over

1% and it will be based on the amount of money you're spending.

So if you're spending $1,000 and it's going to be 1%, then it's

going to be a $10 fee. Okay guys, we're going to jump in to

all of the exchanges in just a moment. Before we do that, here are

the things that we need to consider when we're looking at the various exchanges.

First of all, it's going to be the most important one probably, which is

the fees. now fees can range across all the different

exchanges and that's something that we're going to highlight in just a moment

the other thing to consider is is the platform decentralized or

centralized now what does that mean well

think about it from bitcoin for example bitcoin is decentralized

as opposed to a bank for example is centralized which

means that It has someone at the very top of maybe perhaps a

board of directors and a chairman, a CEO, and they're controlling the

platform. Decentralized means there's

no particular person or entity that's controlling

the platform. OK, something to think about. The other thing would be, is

the platform or the exchange KYC or

non-KYC? Now, what does KYC mean? KYC is

this new and recent years that's been brought

about by a lot of governments, a lot of controlling entities around the

world, which stands for Know Your Customer. It's

something that I personally hate. idea

of not disclosing all of my personal information to

every Tom, Dick and Harry that wants to know about it. And of course, sometimes

I even push back. Sometimes they'll say, hey, we need to send through your ID

so we need to know who you are. Why do you need to know that for? I just

want to buy the Bitcoin or whatever it is. Hey, you

don't need to know who I am. So it's a method that governments have imposed

on exchanges though, okay. So it's not the

exchange's fault because certain exchanges will operate under

a certain country's regulation and in order to operate in

that country they have to abide by the regulations imposed by

the government. So sometimes we can get a little bit antsy about,

hey they want my ID and they want to know where this, particularly the

other issue too is where has the money come from, which comes under

this anti-money laundering which is AML. Which, you know,

which is kind of funny because little old me sitting in Tweed Heads, not

an arms dealer, not a big part of the cartel, right? But

they want to know where your $100,000 came from. Right, they

should be focusing on sort of the bigger players. where they're siphoning

money through all sorts of ways. So anyway, certain platforms

do require KYC and some don't require

KYC. So something else to consider. Now the next thing is

trading methods. So different platforms and exchanges

will offer different services as to what they can provide as far

as spot trading, using margin and futures trading.

Some will allow you to use a lot of leverage. some will allow you

to use less leverage so that's when you're betting within the

markets whether the price is going up or down the other thing too is

sign up bonuses now i know this might sound for me it sounds a

bit funny because i don't really worry about sign up bonuses however

If you are brand new to this space and this of course is

put together for beginners, some platforms will offer something

like $20 bonus. Now that $20 could be

used as Bitcoin and then you can actually test the platform

without using your own money which is very enticing

for a lot of people particularly when they're new. So you can sign up Use

the $20 bonus that you're given now in your account and

then start trading it, you know, moving it from different wallets. Maybe

you buy and sell some Bitcoin so you can understand how the platform

is used, right, before putting any of

your own money down. So in that sense, it's a really

good offer to get started. One of the biggest issues that

you should be thinking about, apart from sign up bonuses and

apart from whether you can do spot or margin trading, or KYC,

the biggest thing is security, okay? Now

it's very difficult for us as laymen to know

whether a particular exchange has good security or not. But

I think it's important to look at reviews on

different exchanges to find out, has the exchange been

hacked before? Have they lost people's Bitcoin or have they lost people's

money before? If it is a centralized exchange, meaning

there's someone in there who's controlling it, I would be looking at

maybe the background of that person or the team. I would

also be thinking about some of the things on their website. They

might actually disclose the type of security measures they have in

place. different countries will have certain protocols which

they must abide by in order to be qualified to even offer

this kind of service. So I think that is also really important because

let me just remind people exchanges are fraught

with danger. Okay that's why it's so important to

check out and do some behind the scenes. Now that said it can be difficult

because if I just take you back only a few short years ago and I

just want to expand on this because I think it's so important. that is that

there was a company called FTX. Okay, FTX was controlled

by, so it was centralized by a guy called Sam Bankman Freed.

Now, he recently just got convicted of a whole range of

criminal activity, fraud and probably embezzlement and all sorts

of things, stealing people's money. From the outset, looking at that exchange, it

seemed like a really good exchange because it was sponsoring,

like, stadiums. You may remember the Formula One

team at Mercedes, they actually had FTX on their

jerseys right on the on the on the car on the on

the racing suits so you would just think oh they're advertising

everywhere they also had celebrities who

were endorsing the company mind you they were being paid to endorse

the company and so you would just think well they must be good exchange and

it turned out it wasn't and they lost billions and

billions and billions of dollars of people's money And

so therefore, that's why this part of this conversation is

so important for you to check out. So I'm going to go into more detail

at the very, very end of how you can also mitigate that

risk. Now, the other thing to think about is the customer service. Now,

customer service is very, very important because if

you have any issues with your money or your

crypto, the Bitcoin on a particular exchange, who

can you call? Who can you email or message to get

an answer? The exchange that I use, which

I'm going to reveal at the very end, is very, very good on customer

service and I get responses back within minutes about any issues

that I have. Now, before we dive in, it's important to know that different

countries have different regulatory frameworks. What's interesting

is most of the people that even watch this video, I've looked at the analytics,

most people are actually from USA, which is fantastic. Even

though this is probably geared to more so for people from Australia, because

I'm based in Australia, and my experience is from Australia working with

these different exchanges and banks. How do I get money from my bank

account into the exchange? But just know that different exchanges work

under different government regulatory frameworks. And

for example, Coinbase, you know, Coinbase operates out of the

UK and I've got a friend in the UK. Now, Coinbase doesn't offer

certain types of cryptos that I can get in

Australia, because for whatever reason, the UK government has determined that

that particular crypto doesn't qualify to

be offered for sale in that territory. So

that is another thing to consider. Can you get the

cryptos that you want from the exchange that you're about to do business with?

What you'll find generally is the top lot of

market cap cryptos. So if you go to somewhere like CoinMarketCap or

CoinGecko, You can do a search there and it'll list all

the different cryptos from the top market cap which would be Bitcoin

all the way to the bottom right and there's about 20 odd thousand

different cryptos out there. As you get further down the

line you reduce the market cap so there's not much money in them. But

they are less likely to be on some of the major crypto

exchanges. Where you could find them is some decentralized,

left field, probably hard to find exchange. But of course, by

investing in those cryptos, it also comes with more risk.

So that is definitely something to consider when you're shelling out

your money to these types of exchanges. Now

if you want to get around, perhaps you're in the UK

and you want to buy certain types of cryptos on the bigger exchanges,

but they're not being offered. One thing you may be able to use

to get around it is by using a VPN. Now VPN disguises your

IP, so the system doesn't know exactly where

you're coming from. Now some people use VPNs for like streaming

movies and what have you. A movie might be available in

the US but not available in Australia so people use a VPN to disguise where

they're from and then all of a sudden you can have access to these types of

things. Same type of method when thinking about buying crypto

as well. One thing to note too is when you jump into these exchanges make

sure you understand what currency they're basing

their cryptos on. So if you're in Australia you

might jump into an exchange and it's actually listed in USD

which is probably the most common type of currency that it's listed

in. you. And don't think therefore like I'm getting like a cheap deal. I

had a guy recently message me and he's like, Matt, I've just done a

check and it's only $1,700 for Bitcoin. I

said, no, no, no, no, no. You need to do some further research. And

it turned out it was just being listed in different type of crypto. So

not even a fiat currency. So it warped his whole

sense of the price he was about to pay. So just be

careful in that. Usually you'll find like somewhere in the top right hand corner, there'll be

like a toggle box, you know, AUD, USD or pounds or something

like that. So make sure you get that right so you know what

you're spending. Now, once you've established that you like a

particular type of exchange, the thing is, how do

you get your money from your bank into

the exchange? And this, by far, is probably the next

biggest issue, because now you sort of understand the

security and the customer service, but now we're talking about actually

moving money from one place to another. I hate to say this, but

in Australia, most banks are so far behind

so far behind they're still scratching their head about what even bitcoin

is okay in my online community which is

actually free you can actually jump in there right now find find the link there

come and join i've actually got a list of the of the banks

and which bank is the best to use when it comes to

transferring money so for example the commonwealth

bank is probably the least best

to use because they will only allow you to move up

to $10,000 a month. Now, you're going to say, Matthew, I'm

not even thinking about moving like $100 a month, let alone $10,000 a

month. But let's just say though that you want to set up a self-managed super fund

and you now need to move like a lot of cash, more than

$10,000 at a time into an exchange. You

don't want to be capped at $10,000 every

single month. Because what if the price is moving up really quickly? By

the time you sort of come back to buying more Bitcoin the following months,

the price could have moved up by another 20%, right? So you

want to be able to move the money in a very timely fashion. And

Commonwealth Bank is not going to be the one to help you there. The other thing they can do is

also hold your funds for a period of time. So you're thinking,

hey, I'm going to transfer these funds from CommBank to exchange

in Australia, for example. and they could just

put like a hold on it right so you're ready to buy your bitcoin i'm gonna buy

it today the price is fantastic i'm committed and then boom you

know you now have to wait the other thing too is when you first start

sending money from a bank to a exchange nine

times out of ten and i'll I'll probably almost say 10 times out

of 10 actually, they will put a block on that transfer. You'll

get an email, it'll say, hey, you need to call the bank because they're

doing it under the guise of scams. Now, I

admit there's a lot of scams that go on in crypto, and

you really have to be careful. I've actually got a whole tutorial within

my community about what the scams are, what

to look for, and how to protect your funds. So

it really is of benefit you jump in there and do that because

protecting your funds is the most important thing. You're trying to get your funds now into the

exchange, the banks will just put up a lot of brick walls, okay?

And you're going to have to call them, you're going to have to beg them to release the funds

and all these types of things. I, however, have a

really good relationship with my own bank. I use ANZ.

Now, ANZ was probably, from my experience, the best one

to use. But that's not to say other banks don't allow you

to transfer. Now, admittedly, even when I first started sending

my money from the bank to the exchange, they still put a block on

it. But I had a very good conversation with them. Probably

had to do it two or three times. And now, if I can move 50, 100,000, whatever

amount of money I need, and

it usually gets there within a few minutes. So definitely something

that you need to think about before you start just pressing buttons and trying to send money

over to an exchange. But from the outset, make

sure you start with a very small amount, like send over $50 into the

exchange first, test the system, jump through the hoops, and then hopefully,

if you've got a good bank, they'll release the funds and you can

proceed as you wish into the future. Now that said, banks

are probably going to be more likely to release your funds if

you are using one of the more well-known exchanges

which are some of the exchanges that I'm going to cover today as opposed to the ones I

mentioned before when you get a bit murkier you go down the line

of some of these lower market cap coins where

you have to perhaps use a decentralized exchange where

no one's controlling that exchange it's probably going to be much

more difficult to move your funds into there. So the way around that

would be that you would have to still set up a commonly known

exchange, move your funds into there, buy some

Bitcoin for example, and then move that Bitcoin into the

lesser known or decentralized exchange. So it might require

a few extra steps. I'm Matthew Fraser, and this is Crypto

Collective. After making millions with Amazon and e-commerce, I

realized that if I was starting again today, crypto would

be my first choice. I'm here to help you take your first

steps and build real wealth. Ready to set yourself up

for life? Let's go. I talk about a few different exchanges

here, the sort of more widely known exchanges. Now, just like

I mentioned before, only a few short years ago, we could have talked about FTX

as a well-known exchange. and that FTX exchange

turned out to be a big load of corruption happening

in there. Okay guys now before I go into all these exchanges I just

want to make really clear This is not an endorsement of any

particular exchange. Some of these exchanges could end

up becoming the future FTX where they completely collapse and steal everyone's

money. So make sure you do your own research

and I'll now let you know how to de-risk your

exposure. And that would be don't have all of your

eggs in one basket. Don't put all of your money or

your Bitcoin into one exchange. You might want to spread

it out because if one turns out to be a future FTX and

it collapses, it's going to undertake all of your Bitcoin with

them. The other thing, and this is the top thing that

I do, is I don't even keep any of my Bitcoin

on an exchange. I keep my Bitcoin in cold wallet

storage, right? That is the ultimate security and

the only way you can de-risk with having your

funds in an exchange, right? This is the only way. So you're

going to say to me, Matt, well, how do I then get the Bitcoin, right?

Well, you have to buy it through the exchange first. That's one way of

doing it. But as soon as you've bought it, you move it off the exchange.

Okay, you transfer it out and don't hold it on the exchange. So you have to use the

exchange for the purchase, but don't hold it in there for

anything longer than a day. Okay guys, let's jump into it. What

is the first exchange? And this is gonna be great for people who are

living in Australia because Coinspot, which

is the exchange name, is based in Australia and they operate

under the regulatory framework of the Australian government.

So their fees, They have instant buy and sell which

incurs a 1% fee and market orders have

a 0.1% fee. Their trading methods

include they offers spot trading but in

this particular case no leveraged trading available.

This is really perfect for beginners and I strongly

recommend and I've said this many many times do not

use leverage okay that means you're using the

platform's money to make bets about the market going

up or down okay you can get wrecked so

easily and i heard a stat the other day which was that some exchanges that offer

up to 100x leverage 99.9% of people that use 100x leverage fail.

Okay, so there's the track record for you. So if I just talk about Bitcoin specifically,

the trade with Bitcoin is to not trade Bitcoin.

What do I mean by that? Is I mean, don't try and time

the market up and down, right? Sell at the top, buy

at the bottom. The trade with Bitcoin is buy and

hold. Okay, and hold for at least four

years. Personally, I'm holding Bitcoin for

as long as probably my grandchildren and

my great-grandchildren and my great-great-grandchildren will

hold the Bitcoin, okay? I'm not planning on selling any

Bitcoin. Coinspot is also a centralized exchange,

meaning they have a team of people that operate that platform.

Good in the sense that if you do have any issues, you can contact Coinspot

and speak to someone as opposed to a decentralized exchange.

Now because they operate under the Australian government regulations, KYC

verification is required by all users.

And they're most likely going to require you to provide evidence

of where you got your money. Okay, so if you're a small business,

they'll ask you to produce some bank statements showing your small business

account, which then proves that you've got money coming into the account and

that was the funds you used. But let's just say you sold a house, right?

You had an investment property, you sold the investment property, you had

$200,000 in cash. They would require you to perhaps show you

the deposit of that $200,000 from the solicitor or

the real estate agent, proving that the

money came from the real estate sale. Now security measures

for coinspot features now they include things like

2fa which is two-factor authentication which is excellent under

the iso 27001 certification

and majority of it is cold storage for assets so

therefore if you're keeping your funds on the exchange of coinspot

they then keep their Bitcoin and other cryptos

in cold wallet storage. But guys, now that I've said that, I

have no idea what ISO 27001 certification

means, but go to Google and check it out, but it'll be something

to do with their security measures meet a

regulatory requirement. As I mentioned before, because they've got a base in

Australia, their support is available through email and their help

desk during Australian business hours. Now

guys, before I move on to the next exchange, I just want to make

note that I have personally used CoinSpot. I

haven't had any issues with them and I find them to be very good. Okay guys,

the next one, Binance. This is one of the top crypto

trading platforms in the world. So the fees for

Binance, they have spot trading fees and they start at 0.1% and

they have discounts though. for people who have the

BNB token which is Binance's own crypto token

trading methods on Binance include offers of spot margin

and future trading with leverage up to I mentioned before

100x they offer 125x and I'm going to

be like don't do it unless you are absolutely in

the 0.1% of people who are experienced with

using leverage. They are a centralized exchange with

decentralized features like Binance DEX.

So that is a decentralized platform that you may want to use, which

is a spinoff of Binance called Binance DEX. So

Binance does have basic accounts that have limited access

without KYC, but full access requires

KYC verification. Now, what does that mean, limited access?

It means that you can deposit pretty much smaller amounts of money without

having to disclose your information. But if you're going to want to put in hundreds

of thousands, millions for example, they're going to make

you jump through all the hoops with KYC. Binance do have sign

up bonuses. Now their offers very interesting

insurance policy in case something goes wrong

okay so they'll insure you up to a certain amount this is something that

you want to dig deeper into to find out if you qualify for this type

of protection the other thing they have is two-factor authentication

which is what most people have now and they have also advanced encryption

tools. And lastly, they have a 24 seven customer

service support via live chat and an extensive help

center, which you can find on their website. All right, bye

bit another. monster exchange. Bybit fees, they

have a spot trading fee of 0.1%. The

trading methods, they offer things like spot and derivatives trading

with leverage up to 100x. So Bybit is

a centralized exchange, right? Now they do have KYC

and non-KYC, but just like some of the others, the non-KYC

accounts have limitations on the funds you can move

in and out. Like many of the other exchanges, they have a sign-up bonus. Now

this is provided for people who are brand new to

the platform. They do things like Welcome Bonus and Rewards Hub.

Bybit's security includes things like cold

wallet storage, multi-signature withdrawals and

2FA. Now, Bybit's customer service is 24-7. They're multilingual,

which could be quite interesting, especially if you don't speak English, which you're

probably not watching this, maybe. And they've got a support center,

which is via live chat and also email. Okay,

let's get on to the next one. It's called Coinbase. Now, Coinbase is

another monster exchange. Now Coinbase's fees vary

from region to region and of course transaction type but

generally speaking they're between 0.5% to 4.5% so

make sure at that higher rate you know what you're getting. The trading

methods include they offer spot trading but no leverage

trading available. Coinbase is a centralized exchange

but note this Every person must

be KYC into their platform, right? They do not have a

non-KYC option. They have great sign-up bonuses that

they put on occasionally for new users, and they have educational rewards

as well. Their security features include 2FA, and

they too have an insurance coverage for digital assets, and

they store their assets in cold storage. Their

customer support is available via email, phone, and

help center resources. Okay, guys, let's get on to the next one. This one is

not as big as say Binance or Coinspot and

it's called Kraken. They have a spot trading fees and they range from

0% to 0.26%, okay, based on trading volume.

So very, very low fees. Their trading methods include spot

trading, they offer margin up to 5x, and

futures trading with leverage up to 50x. They

are a centralised exchange. KYC is

required for fiat transactions, so your general

currency, and crypto-only accounts have lower verification

requirements. Kraken also has the occasional promotion when

looking at sign-up bonuses, so keep a look out for those. Kraken employ

the standard type of security measures like 2FA but

they also have global settings lock which is interesting where they can actually

put a lock on your funds which you might allocate to

have in case of something like a hacking or a scam and

they have the majority of their assets stored in cold wallet storage.

Their customer service is available 24-7 via live chat, and

they have a comprehensive help center resource. All

right, the next one is OKX, which is also featured right

now on the McLaren F1 racing team. OKX

has spot trading fees that start at

0.08% all the way through to 0.1%. Their trading

methods are the standard ones. They offer obviously spot. margin and

derivatives trading with leverage up to 125x.

OKX is a centralized exchange but they

do have decentralized wallet options. Now

OKX has basic features that are accessible without

KYC but of course just like most of these types of

exchanges they're going to require KYC for higher withdrawal

limits. These guys offer welcome rewards and referral

bonuses, so definitely something you might wanna check out. For security, they

utilize cold and hot wallet separation. They have the standard 2FA

and they also use anti-phishing measures. They also have

24 seven support via live chat and a comprehensive help

resource center. Okay guys, so I've now given you a range

of different exchanges, mostly the

most common exchanges that'll be available with some of the differences between.

And I said to you, I was gonna leave the very last exchange as to one that I currently

use mostly now, which is a company that's based in Australia,

it's called SwiftX. Now SwiftX is

something that I've been using now for a number of years. The reason why

I personally like SwiftX is one, they have

a cheaper rate than say, Coinspot with only a 0.6% per

transaction. They're also based in Australia. In

fact, they're based up in Brisbane, which is my old stomping ground. and

you can speak to the guys there via phone. If I ever

have any issues, I literally pick up the phone and I can talk to someone who's

there. Not just that, they also have the standard online

support through chat and the guys there get back to you very,

very quickly. And I think being that it's local, this

is something that I like to support as well. So these

guys, as I said before, offer a 0.6% transaction fee,

which I love. So these guys offer primarily spot

trading, But they do not offer leverage

trading, which is totally fine for me. As I said before, I don't even use

leverage trading. And as a beginner, again, I recommend you do

not use that. They are a centralized exchange. So obviously, if

the guys are based up in Brisbane, there's someone who's the CEO and

they've got a whole team there who's looking after things for you. So it

does have those pros with that. But of course, with that comes

KYC. And I've jumped through all the hoops myself because

they're based in Australia, they have to operate under the Australian regulatory framework.

So you will have to provide your ID and you will

have to provide information about where you even got your money from when

it goes into the exchange. So now I get to the most exciting part of course, which

is the SWIFTX bonus. Now I will say they do offer

a $20 Bitcoin bonus upon verification with

a minimum deposit of only $100. Now what I'm gonna do

is I'm gonna leave a link in the description and you

can use that link to get your bonus. Okay,

$20. Now, as I said before, you can start using that bonus to

test the platform, experiment with it, see if you like

it, and it's just something great that's been offered by the guys there

in SwiftX up in Brisbane. Now, the guys at SwiftX take security very,

very seriously. Now, they implement two-factor authentication. They

have biometric login and penetration testing.

Their assets are also stored in both hot and cold

wallet. Now, as I mentioned before, they have an excellent customer service team,

again, via live chat and also email. And if

you have to, you can also pick up the phone and speak to someone there based

up in Brisbane. So guys, there you go. Hope you've enjoyed that episode as

I've laid out a lot of the major crypto exchanges in Australia

and also around the world. Of course, depending on where you are

based will depend on which exchange you kind of steer towards.

But again, guys, do your own research, find out which platform

is right for you. Although I've spoken about the ones that I've used

in the past, like Coinspot and the one I use now, which is SwiftX with

the bonus that you can tap into right now. Do

your own research. Find out which one is best for you. Thank you so much for joining me

on this episode. Look forward to seeing you next time. Take care. Thanks

for tuning in to Crypto Collective. If you've enjoyed this episode, the

best way to show your support is to leave a five-star review on

Apple Podcast or Spotify and make sure to subscribe to

the YouTube channel so you don't miss an episode. You can also find more

of me at I'm Matthew Fraser on all