5 Best Cryptocurrency Exchanges For Trading In 2019
By on ALTCOIN MAGAZINE
This is a consolidated list of best cryptocurrency exchanges, regarding user reviews, user-friendliness, accessibility, fees, and security.
HB DEX
HB DEX is a 100% decentralized exchange, which operates entirely on HB Wallet Desktop Application. The exchange is developed by Bacoor.Co — a multinational technology firm headquartered in Malaysia.
HB DEX supports up to 9 languages. Since it is wholeheartedly decentralized, the exchange is in the minority of exchanges that allow users to access their specific functions without any geographical restrictions.
Unlike most exchanges, HB DEX requires no personal data. Buyers and sellers can trade their crypto assets directly and comfortably with each other while remaining completely anonymous on the exchange.
Instead of depending on a central server to approve your transaction, all transactions on HB DEX are conducted directly on the Ethereum blockchain-based on Smart Contracts. Smart Contracts are computing protocols running on top of a blockchain, containing an encrypted set of rules between permitted users. Smart Contracts secure the flow of funds and render transactions traceable, transparent, and irreversible. It’s virtually impossible for hackers to manipulate your transactions unless they compromise one of the two parties successfully.
HB DEX covers most comprehensive functionalities that centralized models lack of, offering a seamless trading experience. The trading process is faster, less expensive, and more secure than any web-based exchanges and wallets. HB DEX supports real-time trading with ETH for any cryptocurrencies under the form of ERC-20 tokens and vice versa.
It’s important to keep in mind that ETH does not follow the ERC-20 standard, so you cannot directly exchange them for other ERC-20 tokens and backwards. Because of this, HB DEX enables users to convert ETH to WETH (an ERC-20 token) and WETH to ETH efficiently. Since ETH is tokenized via WETH, the values of ETH and WETH are equivalent.
With HB DEX, you can also list any tokens on ERC-20 or ERC-223 that you prefer, buy ICO, receive airdrops and manage your own tokens directly.
HB Wallet has partnered with Simplex, allowing users to buy cryptocurrency via Credit or Debit Cards provided by Visa, Master Card, JCB, or American Express. You can purchase not only Ethereum (ETH), but also Bitcoin (BTC) and Ripple (XRP). The purchasing process should take no longer than 10 minutes. All your filled in information will be kept securely and confidentially by Simplex for KYC purposes only. However, your identification still remains perfectly anonymous on HB DEX, so don’t worry.
HB DEX is also associated with HB Wallet mobile app available on iOS and Android, allowing users to sync their wallets into HB Wallet and monitor their assets from mobile devices. HB Wallet is considered the best Ethereum Wallet in Japan in 2019. Most importantly, HB DEX is 100% free, the only fee you have to pay is the Gas Fee of the Ethereum network.
Binance
Binance is one of the best options to conduct crypto-to-crypto trading. The Malta-based exchange provides impressive offerings along with very low trading fees. Binance offers its own coin known as Binancecoin (BNB).
Joining this centralized exchange, you can get decent discounts while trading with BNB. Binance offers a standard trading fee of 0.1% and can be lower if the payment is conducted with its tokens.
Binance offers a mobile app for iOS and Android with a user-friendly interface. The registration process is moderately fast and simple.
The exchange supports over 130 cryptocurrencies with a huge selection of altcoins!
However, payment options in Binance are limited. There’s also no fiat trading. The security architecture of centralized exchange models like Binance is also a factor you should consider. Since all user funds are gathered in only a single central point, they are usually targeted by potential hackers.
Coinbase
Coinbase is one of the most well-known brokers and trading platforms in the crypto space. It obtains a greatly high number of users and is backed by trusted global investors.
Coinbase allows you to deposit and withdraw funds easily. The platform offers competitive fees and advance trading functions. You can buy Bitcoin, Ether and Litecoin from Coinbase through a digital wallet compatible with Android or iOS, or via trading with other users on GDAX (the company’s Global Digital Asset Exchange).
GDAX currently operates in the US, Canada, Europe, UK, Australia, and Singapore. At the moment, this exchange does not charge any transfer fees for moving funds between your Coinbase account and GDAX account.
However, the selection of tradable currencies will depend on the country you live in. GDAX is suitable for technical traders only since its user interface is quite complex.
Like Binance, payment options in Coinbase are limited. The platform only supports certain countries.
KuCoin
Launched in 2017 in Hong Kong, KuCoin is already one of the most popular cryptocurrency exchange platforms. KuCoin also offers a mobile app for iOS and Android.
The exchange supports several coins including KCS (its own digital coin), DragonChain and more. Overall it’s a great platform to buy alt-coins, even under the radar coins that can be hard to find. Additionally, comparative fees in KuCoin specifically benefit high-volume traders.
The user interface is clean, simple and friendly. KuCoin also offers a mobile platform. The registration process is straightforward and requires KYC verification.
KuCoin is growing quite rapidly, and it’s expected to make headlines.
However, there are things you need to consider before using this cryptocurrency exchange. While KuCoin offers reasonable rates and fees for trading some cryptocurrencies, others are insanely expensive. Thus, there have been a few reports online that KuCoin has had a hard time handling the new amount of volume it’s been given. Good news is, KuCoin Team is actively investing in solving the issue.
BitMex
BitMex, short for “Bitcoin Mercantile Exchange”, is a popular and high-volume cryptocurrency exchange for investors to interact with global financial markets, mostly using bitcoin. It also supports altcoins such as Ethereum, Litecoin, Ripple, Cardano, and Bitcoin Cash among others.
The registration process is quite simple since you only need to create an account using email address, password, country of residence and your name (optional). BitMEX does not charge fees for deposits or withdrawals occurring on the exchange. When trading on BitMEX, there are fees associated with each transaction, depending on position (buyer/seller), funding rate and contract type.
Currently, all traditional futures contracts acquire a 0.0500% settlement fee on any open position at the time of settlement, with the exception of XTZ (Tezos Series) and ZEC (Zcash Series), which require a 0.2500% settlement fee. The settlement fee is also 0.2500% for prediction markets.
However, it’s a disadvantage that BitMEX is not available in every country, and may not be accessible to some certain regions. Although BitMEX is a leader in Bitcoin trading volume, most other offerings maintain relatively low levels of liquidity. This makes trading some available altcoin assets may be impractical. Even though its user interface is good, BitMex is allegedly not an ideal place for beginners since most of its users are professional traders. There are also reports about network latency from automated trading bots front-running orders. Unlike the aforementioned exchanges, BitMex does not provide any mobile application at present.
