Hey there! In this video, I want to share my journey with you as I navigate the recent departure of Binance, one of the leading cryptocurrency exchanges, from the Netherlands. Join me as I explore alternative options for trading crypto and leveraging my crypto trading bot.
First, I’ll discuss the possibility of patiently waiting for MiCAR (EU rules on crypto-assets) to come into effect, which could potentially allow Binance to operate in the Netherlands once again. However, I must admit that I’m quite impatient and unsure about the timeline for this development.
Next, I’ll delve into the idea of using a VPN to access Binance. I have to be honest with you; I’m a bit hesitant about this approach due to the potential legal implications. It’s not worth risking being suspected of money laundering or tax evasion. Additionally, there’s a chance that Binance might block users based on their KYC, so even if you choose to go down this path, be prepared for limited account access and the associated risks I mentioned earlier.
Another option I’m considering is moving all my funds to self-custody wallets and taking a break from active trading. This approach would definitely reduce my stress levels, as I wouldn’t constantly be watching market movements. I could utilize the time I save from trading to focus on other things. However, I have to be honest, it would also mean missing out on the excitement and potential opportunities that come with active trading. Plus, I’d need to brace myself for enduring large bearish market cycles since my focus would be on the long-term.
Lastly, I’ll be exploring the possibility of choosing a nationally approved exchange for bot trading. This option seems to offer the best of both worlds for me right now. I can continue enjoying the thrill of trading while searching for better algorithms to maximize future opportunities. Additionally, staying connected with the news, development, techniques, and social contacts in the crypto space is crucial. Moreover, trading on a nationally approved exchange provides an added advantage of being able to exit the market during bearish periods, thereby minimizing potential drawdowns. As a hobbyist, I love the challenge of testing, tweaking, and exploring new possibilities in trading.
Throughout the video, I’ll also dive deep into the selection criteria for choosing a new trading exchange. We’ll discuss factors such as National Bank registration, Dutch deposit guarantee schemes, trustworthiness, size, age, popularity, customer base, trading volume, supported crypto pairs, spot and futures trading options, costs/fees, user-friendliness, vendor lock-in concerns, history of hacks, and API availability.
Join me on this informative and exciting journey as we navigate the shifting landscape of crypto trading in the Netherlands. Your support, engagement, and comments are greatly appreciated. Make sure to subscribe to my channel to stay updated with future videos on cryptocurrency and trading. Let’s stay ahead of the game together!
Keywords: #BinanceDeparture #Netherlands #CryptoExchangeAlternatives #MiCARRegulations #VPNAccess #SelfCustodyWallets #LongTermInvestment #NationallyApprovedExchange #TradingBot #SelectionCriteria #NationalBankRegistration #DutchDepositGuaranteeScheme #Trustworthiness #TradingVolume #CryptoPairs #SpotTrading #FuturesTrading #CostsFees #UserFriendliness #VendorLockIn #Hacks #APIAvailability #CryptoTrading #YouTubeSEO
===
!!!! SEE MY WEBSITE OR PATREON FOR ALL CODE AND STRATEGIES !!!!
π¬ SOCIAL π¬
Website: https://www.dutchalgotrading.com
Patreon: https://www.patreon.com/dutchalgotrading
Twitter: https://twitter.com/DutchCryptoDad
Tiktok: https://www.tiktok.com/@dutchcryptodad
Buy me a coffee: https://ko-fi.com/dutchcryptodad
Youtube: https://www.youtube.com/@dutchalgotrading
πΊ PLAYLISTS πΊ
Tested trading strategies: https://bit.ly/DCD_strategies_pl
Freqtrade bot tutorials: https://bit.ly/DCD_freqtrade_pl
β οΈ FINANCIAL DISCLAIMER β οΈ
This channel is for education and entertainment purposes only! I am in no way responsible for bad setups, strategies and possible losses or gains of money as a result! Everything expressed here is my opinion and not official investment advice. Investing in cryptocurrency or trading involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Please do your own research or consult a financial advisor before making any financial decisions.
5 Comments
Thanks for your content. Whats about ByBit as a new Exchange? I use it together with freqtrade
As an Asian, there is no issue for using Binanceβs API, though Binance had messed up the connection several time.
I still like and will support you for sharing ideas of algorithm trading and bot development bases on Freqtrade. Thanks.
Lots of bad news for binance in the press recently. I left them after they stopped trading and allowing me to deposit/withdraw in the UK recently. I suspect there is more bad news on the horizon for them soon in the US due to the SEC actions against them in June 2023
;-))
Ive been getting into arbitrage and need access from the netherlands to as many exchanges as possible. Its a mess. Ive been trying the Palau digital residency and VPN. Which gives you a second nationality. This works for some, but binance already blocked it. Kraken and Kucoin too. Btw Binance is IP and KYC blocked so dutch residents or dutch IP is blocked.
A way around it COULD be to start a company. It requires sending a lot of paperwork. Not sure if you will still be region blocked. My current plan is to work together with a friend from new zealand to set up a company. Ill pay my taxes (if actually profitable π) but this would give me bigger access (although binance is also blocked there).