In general, there are few different types of crypto exchanges:
What Need to Know Before Joining an Exchange?
Before starting your cryptocurrency trading journey, you need to be aware of a couple of things. Here are the most important.
Which are The Best Crypto Trading Exchanges?
Binance
Binance is a crypto trading exchange established in Hong Kong. It has more than 150 cryptocoins listed on it. And that number rapidly increases as the time pass. Although it is located in China, it is open to almost all countries in the world. Binance can process 1.4 million orders per second and has multi-language support (English, Chinese, Korean, Japanese). It has more than 5 million users. And, the number is constantly rising. The primary focus of Binance is cryptocurrency trading, and it does not accept fiat currency payments. It does not require any verification as long as withdrawals are below 2BTC in 24hr. However, ID verification is recommended. Binance has relatively low fees (0.1% per trade) and provides a decent discount for day traders when using Binance (BNB) coins. BNB is a native currency of this platform. Furthermore, Binance gives 1 QTUM coin as a reward for registration. The amount of QTUM coins used for this giveaway is 10.000. As a web-based trading platform, Binance offers two distinct trading layouts.
A simple one – appropriate for all beginner-tradersA Pro version – for all the experienced traders out there
This cryptocurrency exchange is one of the few in the world that provide mobile support for iOS and Android. The only flaw (if we can call this a “flaw”) of Binance is that the company is relatively new on the market. However, from the trading perspective, it offers highly suitable conditions. Click this link to join Binance Now!
Bittrex
Established in Seattle, USA, Bittrex is one of the largest cryptocoin trading exchanges by the number of users. It makes its way into world’s top 3 exchanges based on the trading market share and is available in almost all countries. This exchange operates since 2014 and has an excellent reputation. Until today, it is free of any problems or hacks. One of Bittrex’s major strength is the variety of cryptocurrency for trades that supports. Currently, it lists hundreds of cryptocoins and cryptocurrency trading pairs. Users can purchase Bitcoin, Ethereum, or USDT on Bittrex via bank wire transfer. However, it does not provide fiat trading pairs (trading via GBP, USD, EUR). Bittrex currently offers 2 types of accounts:
Basic account – Requires users to submit their name, date of birth, and address. After these details are verified through public records, users can withdraw up to 3 BTC worth of digital currency equivalents in 24hr if using two-factor authentication.Enhanced account – Requires users to submit selfies and scans of their IDs. The Jumio service verifies the submitted information. It utilizes various heuristics to determine that the ID is legitimate and the faces match. These accounts can withdraw up to 1000 BTC daily if they use two-factor authentication.
Trading on Bittrex is available for all users who have “enhanced verified” account with purchase amount greater than $10,000. Fees for trading stand at 0.25% on all trades. This allows users to easily and accurately calculate the costs for any trade. Bittrex’s trading interface is known for its quick loading times, with no incidences of lags or hanging. The only note that many users have about Bittrex is the lack of heavy-duty customer support. However, that is the sacrifice they’ve made to make all other aspects as appealing as they are. Click the following link to Join Bittrex Now!
Coinbase
Coinbase is the largest cryptocurrency broker in the world. It is available for users in more than 30 countries. However, United States, United Kingdom, and Brazil are the ones who take the biggest portion of their customer foundation. Coinbase exists from 2012, and that makes it one of the oldest cryptocurrency exchanges around. With Coinbase, users can buy and sell Bitcoin with a connected bank account, Paypal account (for selling only), SEPA transfer, Interac Online, and a few other payment methods. Currently, only 3 cryptocurrencies are listed on Coinbase’s trading list (Bitcoin, Litecoin, and Ethereum). However, they plan to add more cryptocoins in the future. Coinbase charges more than 1.5% fee per purchase. However, it is important to note that fees are approximate. They may be different based on your location or purchase size. Additionally, Coinbase charges a low fee of 0.25% for takers trading on its exchange platform (this apply for both Ethereum and Bitcoin). Verification process on Coinbase includes providing user’s ID scan and selfie picture. Recently they also introduced the Vault feature. It allows you to “share an account” with 2 more users – approvers. That means approvers must confirm every withdrawal the user makes. Thanks to the simple and intuitive interface that Coinbase has, it is very easy for using even for the first-time Cryptocurrency-buyers. Experts often recommend it to cryptocurrency newcomers. Aside from the small number of supported cryptocurrencies, Coinbase provides a seamless and secure trading experience. Click the following link to Join Coinbase Now!
Conclusion
Although one cryptocurrency trading exchange can be considered as an excellent for some, the same platform may be unsuitable for others. Do not expect to have a crystal clear picture for any exchange before joining in. Using one will tell you what you like and what you don’t about it. However, the above information is your foundation for choosing the most appropriate option for you.
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