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Digital assets are riding an upward wave
Until 2009, no one had heard of crypto-currencies. But the invention of bitcoin provided the impetus for the creation of thousands of new electronic currencies, making the choice truly enormous. Logically, this new type of currency immediately generated considerable interest in turning crypto-currencies into a powerful trading instrument. And this was mainly driven by its high volatility.
In the early days, you could find very different prices for the same cryptocurrency, including bitcoin. And since these new currencies only existed in the electronic space, they had no directly assigned value. All of this led to drastic price fluctuations for all digital currencies in their first few years of existence. It is not yet stable, but a clear trend has emerged in recent years.
Some coins have proven to be so reliable that they have attracted the attention of traders. Thus, crypto-currencies paved the way for exchanges where they can be freely traded. The whole process is quite simple - traders would exchange one commodity for another with the intention of holding the commodity until its price increases. This popularity has led to the creation of many new exchanges around the world. And they all work quickly, reacting to any changes in the market.
What is a crypto-currency exchange?
Before comparing the world's best stock exchanges, it is important to understand how they work.
A crypto-currency exchange is a service that allows you to trade crypto-currencies. Many platforms accept both fiat currency and crypto-currencies. Therefore, you can buy and sell both fiat and crypto-currencies in any combination.
In fact, there is nothing special about running a stock exchange. All you have to do is sign up on the platform of your choice and start trading. These services connect real people who want to trade their digital assets. All you have to do is enter the amount you want to buy or sell and start trading. You can then hold on to the funds you receive until their value increases and continue trading.
Crypto-currencies are traded like any other asset. There is a certain market value, which largely depends on a number of external factors, the main ones being supply and demand. It can be explained that cryptocurrencies are quite unique and have no value in the real world.
In order to deposit money into your crypto-currency exchange account, you must have an active virtual wallet. This is a service for storing your crypto-currency capital. You will use your wallet address to transfer funds to your trading account. Please check if the exchange in question accepts the coins you will be selling. Some exchanges offer their own built-in wallets, which are well protected.
When you load your currency account from your wallet, you can create a buy or sell order in the system. When the other interested customer sees your offer and is satisfied with the rates and other details, you initiate the transaction. Therefore, the purpose of an exchange is to help people do mutually beneficial business. Please always check the exchange conditions for such transactions, as they may vary slightly from place to place.
What influences the value of crypto-currencies?
Digital assets are always highly volatile and their value difficult to predict.
Before you start actively trading on reputable crypto-currency exchanges, make sure you know more about crypto-currencies, including what affects their value. It would be impossible to list all the factors, but here are the most important ones to keep in mind.
- Limited supply. This is one of the top factors that can affect the price of a particular coin. For example, bitcoin has a preset emission. So, in many cases, it is known in advance how many coins can be issued in total. Once the coin has limited supply, it becomes extremely difficult to get more coins when current circulation gets closer to the maximum.
For example, only 21 million bitcoins can be mined. This amount is really nothing when it comes to any currency. This is why the value of Bitcoin is so high. This currency is already approaching its supply limit, so fluctuations are inevitable when no more coins are expected to be in circulation. At least that's what major bitcoin holders believe.
- Demand. It is another crucial factor that significantly influences the value of this or that cryptocurrency. The more customers want to purchase a certain coin, the higher the mark is reached if the supply does not grow. In cases when supply is not limited, there is an end limit which also influences the demand.
This is not the only factor that affects demand. It is important to take into account all the advantages of a currency as well as the regulations that apply to different currencies. When you know the level of interest in a currency, you can predict approximately how much demand affects its value.
- Regulations. There is no generally accepted cryptocurrency regulation in the world financial system. In some countries, there are restrictions at all, while in others, there are still disputes on how to monitor this relatively new type of money. Experts believe that once this question is solved, the value of digital money will substantially rise.
No one can say for sure how legislation will limit the use of crypto-currencies. Crypto-currencies may lose their current value. But the adoption of crypto-currencies is inevitable, and that will be reflected in their value.
- Media. All forms of mass media always have influence on the value of cryptocurrencies. Public reaction can seriously change the value of any coin. So any information can lead to unexpected jumps of cryptocurrency. All people follow major events today, and any breaking news immediately becomes an effective tool for price prediction.
This list is not exhaustive, but these factors are the most crucial.
Overview of the exchange
Today, you can find many crypto-currency exchanges and the average user often has a hard time choosing. Sometimes these services may have similar offerings, but there are still differences. Therefore, it is important to know these nuances and understand how they differ if you intend to trade cryptocurrencies.
The most important feature is the level of security that this or any other exchange offers to its customers. This is very important when you are trading in an online environment. Therefore, when you are looking for a trusted exchange, make sure that this is the most important criteria. A crypto currency exchange is your guide to the world of crypto currencies.
It is one of the largest exchanges. It started its operations in 2012, shortly after the invention of bitcoin. It is based in the United States and operates according to all the regulations required here. Once you join the platform, you can use one of two accounts: standard and pro. This exchange has high commissions for the standard account, while the pro account has many advantages. Pro account holders can enjoy advanced charting capabilities and effective indicators to detect the slightest changes in the market. In addition, the service offers an extensive list of currencies to trade. But it is worth mentioning that some of Coinbase's competitors have an even better selection of crypto-currencies. The trading system is very easy to use and even a novice will quickly learn to navigate the site. If you are going to use a crypto-currency exchange wallet, rest assured that it is well protected against hacking. Overall, this exchange offers a really beneficial trading environment with all the features the average user may need in their workflow. It is especially recommended for newcomers to the crypto-currency sphere. Please take a look at the main features:
|Available currencies||23 pieces.|
|Fees and commissions||For all transactions under $10, you pay $0.00; for transactions between $10 and $25, you pay $1.49; for transactions between $25 and $50, you pay $1.99; for transactions between $50 and $200, you pay $2.99. And for higher amounts, a fixed interest rate is applied, depending on the payment method.|
|Portfolio||A free online wallet compatible with mobile devices.|
|Payments||All major payment methods - credit card, bank transfer, e-services.|
|Security||Two-factor authentication; traffic encryption using SLL protocols; wallet is encrypted using AES-256 protocol; only 2% of customer funds are held online and are insured.|
|Applications mobiles||For iOS and Android.|
This crypto-currency platform was founded in 2017. Despite its young age, it has managed to attract many traders. One thing is easily explained: the exchange offers its customers more than 150 different cryptocurrencies. It is quite difficult to find a service that offers such an impressive selection of crypto-currency assets. Binance doesn't just work with digital currency - it also accepts fiat currency, although crypto-currencies still dominate. It also offers exchanges on its own token - BNB. Very quickly, the exchange reached a very high trading volume, which allowed it to take its place among the most influential crypto-currency platforms on the global stage. And its flexible and affordable fee system left the competition far behind. In record time, the platform has managed to build up a huge customer base and new users are coming to the service every day.
By registering on the site, you can make deposits in crypto-currencies or in hard cash. This feature makes trading accessible to literally anyone. The only drawback you can find here is the somewhat complicated setup. For a newbie, navigating the site can be a bit difficult. Other than that, it works very well.
|Available currencies||740 cryptographic fiat pairs.|
|Fees and commissions||Flexible and competitive commission system. You pay 0.01% per transaction and only 0.075% for NBB token transactions.|
|Portfolio||Application mobile - Trust Wallet.|
|Payments||All major methods are supported - bank transfer, credit cards, electronic payments.|
|Security||The exchange has launched a unique monitoring system - CryptoSafeAlliance (CSA). It combines several services to improve the security of the platform.|
|Applications mobiles||Free application for iOS and Android.|
This exchange entered the market in 2011. The service has grown at an impressive rate and in just a few years has become one of the leading exchanges in the market. It remains very popular among traders as it offers a good selection of altcoins and fiat currencies. Although other exchanges offer more choices, Kraken has other solid features that encourage customers to stay with it.
Users greatly appreciate this exchange for the many technical features that are essential for successful trading - comprehensive charting tools and margin trading. Advanced traders make great use of these features. Beginners may find it difficult at first, but with a little effort, they can master the interface as well. Once you have successfully executed your first few trades, things will start to speed up.
In short, this exchange has everything that an investor may need in his daily work. The only flaw that should be mentioned is the insufficient choice of payment methods. Therefore, before you decide to create an account on the site, you are free to deposit and withdraw your funds. If you do not find the desired option, it may be that cooperation with this particular exchange is not suitable for you.
|Available currencies||8 crypto-currencies.|
|Fees and commissions||For all transactions up to 50,000 of a given token, 0.16% is charged to the seller and 0.26% to the buyer. For amounts over 50,000 of a given currency, the commission increases to 0.14% and 0.24% respectively.|
|Portfolio||No crypto-currency wallet.|
|Payments||Only direct transactions from crypto-currency wallets or bank transfers. Credit cards are not accepted on this platform.|
|Security||2-factor authentication; PGP encryption; the exchange also uses a global configuration lock to prevent too many account changes.|
|Applications mobiles||Kraken Pro e Kraken Futures.|
This exchange was launched in 2014. It was at that time that crypto-currencies appeared on the global financial market and became an interesting instrument for trading. Its founders approached the task correctly, offering a really impressive selection of coins. This allows traders to easily diversify their trading portfolio to get a better result. Moreover, the creators of the exchange have also added a virtual wallet to their site so that users can store their funds safely on the platform. The website is quite reliable as many protection technologies have been used here for the safety of the customers.
|Available currencies||More than 250 pairs of negotiations.|
|Fees and commissions||The exchange uses a flexible commission system, but there is a different rate for each currency.|
|Portfolio||Online crypto-currency wallet.|
|Payments||Crypto-currency wallets, bank cards and bank transfers.|
|Security||Approximately 80% of all funds are kept in cold storage; 2-factor authentication; IP verification by email address after user logs in via a new IP address; IP whitelisting.|
|Applications mobiles||Bittrex Global in the Bittrex application.|
This exchange welcomed its first customer in 2014. And it only took a few years for it to attract thousands of traders. This happened mainly because of the enticing margin trading offers. There was no other platform offering such attractive conditions for binary trading. For example, in futures contracts, the trader could use leverage, which was a powerful way to multiply profits significantly. At the same time, leverage is a complicated mechanism that always carries a high financial risk. Therefore, margin trading is only recommended for traders with sufficient market experience.
Bitmex is a reliable platform. The registration process is more than simple. It is a perfect compromise between ease of use and many additional features. Traders join the exchange with the intention of enjoying the benefits of margin trading.
|Available currencies||55+ exchange pairs.|
|Fees and commissions||There are no fees on deposits and withdrawals. For all transactions, users pay 0.075% of the total transaction value.|
|Portfolio||BitMex online wallet.|
|Payments||The service only accepts crypto-currency wallets.|
|Security||Funds are held in cold wallets; 2-factor authentication; SMS registration; multi-signature wallets.|
|Applications mobiles||Application mobile Bitmex.|
This exchange has been running since 2012, and is considered one of the first sites of its kind. Over all these years, it has managed to grow and remain popular. The winning feature of Bitfinex is margin trading. Many traders could make a steady profit from this opportunity. As already mentioned, you need to have some experience to use margin in your trading. Otherwise, the risk of losing your investment is high.
Bitfinex doesn't have the largest selection of trading instruments on the market. But the platform has been accepting both crypto-currencies and fiat assets since 2015, which has made it extremely popular among traders. Thanks to this feature, users from all over the world can use the exchange without any problems.
|Available currencies||140 crypto-currencies and over 300 trading pairs.|
|Fees and commissions||There are no fees on deposits and withdrawals. All dollar transactions are charged 0.1%, but not less than 20 USD. The fee for a cash transaction is 60 USD. For other transactions, the service fee is 0.1% for the producer and 0.2% for the borrower.|
|Portfolio||Three different portfolios are available - Margin, Foreign Exchange, Financing.|
|Payments||The service accepts crypto-currency wallets, credit cards and bank transfers.|
|Security||99.5% of all funds are stored in cold wallets. To access this money, several authentication steps must be completed to ensure it is securely protected.|
It is another pioneer among crypto-currency exchanges. Local Coins entered the market in 2012. Its main feature is that it originally started as a P2P (peer-to-peer) service and didn't focus too much on exchange volume. Although the service is global, its customers have a local exchange experience.
The platform allows each trader to find a favorable offer and discuss fees with other participants until an agreement is reached. To facilitate the trading process, you can open an escrow account. The exchange has managed to create a really reliable environment for trading. Therefore, it is quite popular, especially among industry insiders. However, it is worth mentioning that Localbitcoins operates with slightly higher fees than other similar services.
|Available currencies||Only bitcoin is traded here.|
|Fees and commissions||Buyers pay no commission, while sellers pay 1% of the negotiated value.|
|Portfolio||Crypto-currency wallet for btc.|
|Payments||Bank transfers, credit cards, electronic systems.|
|Security||2 authentication factor; escrow account system.|
The first transactions on this exchange were recorded in 2014. Since then, the platform has grown well. It offers over 100 crypto-currency pairs to trade in a highly reliable environment. The service charges very low commissions and offers many benefits to its customers. For example, the higher the volume of transactions, the lower the commission you will be charged.
Poloniex uses separate fees for takers and producers. This is done to encourage traders to open more positions, as producers pay really low fees. There is a whole list of other benefits for traders registered with Poloniex - these include chat boxes, analysis tools, news feeds and more. The site has a very easy to navigate interface.
|Available currencies||Over 100 currency pairs.|
|Fees and commissions||All deposits are free. Withdrawal fees are fixed for each currency. Split fees for borrowers and producers.|
|Portfolio||Online cryptographic wallet.|
|Payments||Payment methods vary depending on the country of residence of the merchant.|
|Security||2 account authentication factors.|
It is one of the youngest exchanges registered in Singapore in 2017. Despite its age, the platform was created by very experienced market players. As a result, the service has everything that is necessary for successful crypto-currency trading. Thanks to its modern features, it immediately gained popularity and attracted users from almost every country in the world.
One of the winning features is the high-end protection system implemented in the exchange. It can be compared to the one used by the most reputable banks. High-level encryption and multi-step authentication are used here. To date, there have been no reported cases of hacking of this platform. However, it is still too early to assess the security of this exchange due to insufficient market presence.
|Available currencies||200 chips and 450 currency pairs.|
|Fees and commissions||All deposits are free. Withdrawal fees are fixed for each currency. A flat fee of 0.10% is charged for all transactions.|
|Payments||All major payment channels are supported, including electronic systems.|
|Security||2-factor authentication by Google.|
The exchange was originally known as Coinimal. This Austrian service was launched in 2014. But some time later, it was renamed Bitpanda. The goal of the platform was to make crypto-currency trading accessible and easy for every person. To this end, the founders created an easy-to-use website that even a complete beginner can navigate effortlessly. This approach worked well, as the exchange attracted over a million users in just a few years.
Besides crypto-currencies, you can also trade other instruments - silver and gold. The platform offers automated tools that make trading cryptocurrencies very easy. Once you gain enough experience in the industry, you can trade between digital assets and metals. The company has many branches around the world that offer additional opportunities to make money. You can invest in the trading symbol itself and use it to minimize your operating costs.
|Available currencies||Over 30 cryptocurrencies.|
|Fees and commissions||All deposit and withdrawal fees are fixed for each currency. The same approach works for crypto-currency businesses.|
|Portfolio||Bitpanda crypto-currency wallet.|
|Payments||Bank transfers, credit cards, electronic systems.|
|Security||2-factor authentication for each connection. Cold storage of funds. Validation by e-mail address.|
Coinmama is another decent source for crypto-currency trading. It was launched in 2013, when cryptocurrencies were firmly established in the global financial system. You shouldn't think of the platform as a currency exchange service. Technically, you are buying and selling assets for the exchange itself.
The choice of crypto-currencies is not very wide on this platform. When buying cryptocurrencies by credit card, be prepared, there is a limit to the amount you can buy. And don't forget to check what commission will be charged for the amount you want to trade. There are enough payment channels accepted on the site. In addition, you will find decent multilingual support, as the exchange focuses on the global market. The only drawback is that there is no crypto-currency wallet on this platform. Other than that, it is a good option for beginners.
|Available currencies||More than 10 crypto-currencies.|
|Fees and commissions||There is a service fee for using a bank card. Fixed fee for selling and buying cryptocurrency.|
|Portfolio||No portfolio available.|
|Payments||Bank transfers, credit cards, electronic systems, SEPA and SWIFT payments.|
|Security||Tutelle fiduciaire i technologie ochronne Comodo.|
The exchange began serving merchants in 2015 and was registered in the United States. From the beginning, the service has catered to a global audience, accepting customers from Europe and the United States. The platform itself is pretty basic, with reliable protection and affordable fees. In other words, you can call Paxful a P2P exchange. If you start working here, you will need to create your portfolio. You can check other traders' wallets and evaluate their reliability before confirming a trade.
One of the main drawbacks of this service is that it only allows you to exchange bitcoins. In fact, you can use the whole list of currencies to pay in bitcoins. But when it comes to a sale transaction, you can only sell bitcoins. A 1% commission is charged on each sale, while purchases are free. The exchange supports several payment methods.
|Fees and commissions||A 1% fee is charged for each sale, while purchases are free. An additional commission may be charged depending on the payment method chosen.|
|Portfolio||Paxful portfolio application.|
|Payments||All known payment methods are supported.|
|Security||Mandatory verification procedure; 2 authentication factors.|
|Applications mobiles||Paxful portfolio application.|
This scholarship is based in Denmark. It was launched in 2013. The service was created with the aim of offering individuals the largest possible selection of crypto-currencies. Currently, the exchange offers over 800 trading pairs. You can find even the rarest coins on this platform. This approach is a great way for users to diversify their investment portfolio. HitBTC offers a demo account so that every new client can test the service for free. All clients' funds are protected by the most reliable technologies. The exchange allows clients to trade in large quantities.
The downside of the platform is that it does not accept fiat currency. Only crypto-currencies can be traded here. However, to overcome this drawback, the exchange has added a special built-in system where you can buy digital coins and pay with your bank card. But in this case, you will have to pay higher commissions.
|Available currencies||800 commercial pairs.|
|Fees and commissions||All deposits are free. The withdrawal fee is fixed for each currency. Multi-level trading system.|
|Portfolio||No crypto-currency wallet.|
|Payments||Only crypto-currencies are accepted.|
|Security||2-function authentication; high-level encryption technology.|
As you can see, the market is full of excellent exchanges. You must now analyze your needs and choose the one that best meets your expectations.