Platforms that allow for the exchange of cryptocurrencies into other digital currency or fiat currency are known as exchanges. Before using any cryptocurrency exchange, the user must look out for some basic features like geographical restrictions, security, transaction fees, ease of use and the credibility of the respected exchange.
There are so many platforms available where you can buy and sell digital currencies and it is easy to get stuck when choosing the best exchange to begin your cryptocurrency journey. This article has put together 10 of the best cryptocurrency exchange to get you started, you can find them below.
Coinbase Pro
Coinbase Pro is one of the early cryptocurrency exchange platforms and was founded in 2012. Based in San Francisco, Coinbase Pro has a valuation of around $1 billion. It enables users to withdraw and deposit funds easily and offers competitive fees, advanced trading features, and deposit options. The exchange is insured by the New York Stock Exchange and Andreessen Horowitz.
Binance
Binance is the biggest cryptocurrency exchange in the world and it works as an ecosystem. The exchange comprises of an exchange, wallet, Labs, Charity info, etc as stated by the CEO- Changpeng Zhao. Binance has its own cryptocurrency called the Binance coin (BNB) which serves as a discount when there is a crypto-to-crypto payment. Binance supports over 130 tradeable cryptocurrencies and is regarded as one of the best exchanges to buy cryptocurrencies. The exchange is known to have one of the best cryptocurrency exchange apps in the world.
Bitmex
BitMex is one of the premier Bitcoin exchange platforms across the world and is based out of Hong Kong. As the name suggests, BitMex( Bitcoin Mercantile Exchange) is a trading platform for Bitcoin, the largest cryptocurrency by market capitalization. There have been reports that BitMex experienced an over 2 billion USD transactions in the space of 24 hours.
OKEx
OKEx is one of the most popular cryptocurrencies exchange that is supporting more than 145 cryptocurrencies and based out of Hong Kong. They even have their own cryptocurrency- OKB. OKEx has about 0.02% to 0.2% maker and taker fee.OKEx is not far behind when it comes to trading per day as it has experienced around $1.5 million in bitcoin futures every day. It is regarded as one of the most trusted global cryptocurrency exchange.
Kraken
Kraken was founded in 2011 by Jesse Powell and is seen as one of the largest bitcoin exchanges because of its popular section for fiat currency exchange including Euro, Yen, USD, pound, etc. Kraken is partnered with the first cryptocurrency bank in the world. It supports over 17 cryptocurrencies with a maker and a taker fee of 0% to 0.26%. Kraken even provides bitcoin pricing to Bloomberg terminal.
Huobi
Huobi is one cryptocurrency exchange that is yet to lay its foundation in China. It was founded in China and boasts of supporting around 250 cryptocurrencies. Huobi comprises of the Huobi OTC, that allows trading of cryptocurrencies with fiat currencies at zero fees, and the Huobi Pro, that is for advanced trading capabilities. Huobi is coming up with a cryptocurrency exchange-traded fund(ETF) to be named HB10.
Bitfinex
Bitfinex was started in 2012 and is based out of Hong Kong, it offers the most liquid order that allows an easy exchange with minimal slippage. Bitfinex enables its users to trade up to 3.3x leverage by getting funds from peer margin platform. The margin funding market of Bitfinex helps traders to earn interest in digital and fiat assets. The users can also auto-renew the offers, even if it gets expired. The best part is that Bitfinex lets traders have the set-up done according to their needs or preferences.
Bittrex
Bittrex is a US-based cryptocurrency exchange in Seattle, Washington, security is the most unique factor of the exchange, and that is what makes it one of the best cryptocurrency exchanges for 2020. There are more than 190 cryptocurrencies listed on the exchange with around 284 unique pairings. Bittrex charges a flat 0.25% of each and every trade and it can process trades as soon as it happens as it was built using elastic computing.
Bitstamp
Bitstamp, based out of Slovenia, was formed in 2011 and has multiple headquarters, both in New York and Luxembourg. It has one of the lowest fee systems in the world, with a 0.05% fee for international wire transfer, and imposes a 0.09% fee on international withdrawals. It allows for the deposits and withdrawals of USD, EUR, Bitcoin, Litecoin, Ethereum, Ripple or Bitcoin Cash.
KuCoin
KuCoin has a predominantly modern outlook, backed with a secured platform. It was founded in 2011 and is based out of Hong Kong. It is a profit-sharing platform that distributes 50% of its overall revenue to holders holding its exchange-based token KuCoin Shares (KCS). Every Holder gets a 1% discount for every 1000 KCS that they hold. The exchange fee is comparatively lower than other exchanges.
These are 10 of the best exchanges for anyone who want to buy, sell, or exchange their cryptocurrencies but don’t know exactly how to go about it.
Above all, don’t forget to do your own research before selecting an exchange. There are many criteria to consider such as taxes, security, reputation, proposed peers, trading indicators, functionality, customer support and many more!
