A Cryptocurrency, in broad terms, is virtual or digital money in the form of tokens or “coins”, even though some cryptocurrencies have entered the physical world through credit cards or other projects, the vast majority remain completely intangible. So, it is basically a digital, encrypted medium of exchange. A cryptocurrency value is not managed and maintained by a single entity like the U.S. Dollar or the Euro. Instead, via the internet, these jobs are widely divided among the users of a cryptocurrency. Although most of the individuals invest in cryptocurrencies the same way they would in other assets like stocks or valuable metals, cryptocurrency can be used to purchase conventional goods and services. It is a new and fascinating asset class, investing in it can be risky because it takes some study to properly understand how each system operates. Here is a short discussion about top five crypto exchanges.
Best Crypto Exchanges
Although most of the individuals invest in cryptocurrencies the same way they would in other assets like stocks or valuable metals, cryptocurrency can be used to purchase conventional goods and services.
Binance
Binance is a top cryptocurrency exchange in the world. It is considered as the world largest exchange when it comes to daily trading volumes. It was established back in 2017 in the very beginning of cryptocurrency trading, with a long history of providing customers with top-notch services. It is exceptionally designed for advanced cryptocurrency investors with the offers of low trading fees and a vast collection of cryptocurrencies to trade.
Binance, being the largest provider of blockchain and cryptocurrency infrastructure in the world, it offers the largest volume based digital asset exchange as part of its suite of financial products. It has already won the trust of millions of people around the world, as it offers an unrivaled portfolio of cryptocurrency product and services with the commitment to enhance user financial freedom.
Binance.US is the American affiliate of Binance, located in U.S. states, which offers lower fees than most other cryptocurrency exchanges. In 2019, the original platform announced that it will no longer welcome users from the United States and would instead team up with Binance.US.
In favor of a proposition, Binance provides lower-trading fees, exceptionally large coin selections, extra services, mobile app. Demo account for the users etc. It also has some cons- unavailability in the U.S., finite instruments, lack supports for the beginners.
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OKX
OKX exchange, which is now known as OKX exchange, is another one of the best crypto-currency exchanges, allowing users to engage in spot and derivative trading through its user-friendly interface. It is using the blockchain technology to build the next generation financial ecosystem, with an aspiration to get rid of financial barriers, advance the world economy, and better the environment. It provides a safe, dependable and welcoming setting for bitcoin treading through websites and mobile apps with a service which are constantly tailored to users’ unique needs and suggestions. OKX, a low cost global crypto-currency exchange, is not permitted for the users in U.S., it can be a great choice for anyone looking to make a purchase, stake, and trade a variety of currency.
OKX is offering high interest staking chances, low trading costs of 0.10% or less for the majority of trades, using cards or bank accounts or even digital wallet to make an easy purchase of cryptocurrencies. It also ensures the possibility of earning a rate of interest which is higher than 100% annually. It offers a wide range of services to its users with an easy to use buy or sell dashboards. It has a wide range of well-known currencies. It will be a right choice for the customers who is not a resident of United States and a beginner bitcoin trader and investor who is looking for a comprehensive set of financial and trading services.
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KuCoin
KuCoin is another well-known cryptocurrency trading platform which made its Hong Kong debut in 2017 under the name “The People Exchange”. Their objective was to give users all over the world access to a simple and safe trading platform for a range of digital currencies. They already have created an impact on the worldwide cryptocurrency community with over 11 million members and serving one in four crypto holders globally. It is dependable, safe, and user-friendly cryptocurrency exchange with operations in more than 200 countries out there. Even though it offers several features to interest seasoned traders, it doesn’t have the U.S. license and a poor user rating.
To mention its pros- it has a variety of coins which includes newly launched cryptocurrencies. It also provides extremely low costs for trading, withdrawal and deposit fees and adequate safety precautions. it is also user friendly and great for the beginners. It is also very easy, simple, quick and it hardly takes any time to create a KuCoin account. it just requires to go to the homepage and click “sign up” and then enter password, phone number or email address. As soon as the account is created, you can begin to trade. But it has some cons too. It provides a low trading volume and sporadic liquidity issues with lesser coins. You can face some problems when there is a heavy traffic.
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MEXC
MEXC is another top cryptocurrency exchange which also goes by the name MEXC Global. It was established in 2018, has concentrated on having a high-performance exchange with simple and effective platform wide transactions. In addition, it is said that the MEXC Global Exchange team is the true inventor of the blockchain technology, having explored it from the beginning. It has legitimate permits to offer their services in numerous countries, therefore they are essentially available anywhere in the world. These nations include Australia, Canada and the United States of America. Users have a variety of options on the exchange to immediately trade, buy and sell digital assets. The presence of an excellent customer service team demonstrate that appreciate customer satisfaction.
To discuss about the pros of this exchange, over 200+ cryptocurrencies are available and they have apps for both android and windows users. There are numerous trading markets and quick crypto buying and selling. It leverages trades up to 125x with quick and accurate charts. Staking is possible for some cryptocurrencies. It also offers variety of payment and withdrawal options and high-end support services with multilingual assistance. It is a platform with no hassles and simple registration process with numerous opportunities for additional income. But there are very few cryptocurrencies available for rapid purchases. And as mentioned earlier, there are apps for android and windows users but there is no iOS app available.
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Bybit
Bybit is another top crypto currency exchange in our list which is cutting edge exchange for bitcoin derivatives that is rapidly expanding at this moment. Although it is not available in the United States, but it boasts superior security and a guarantee of zero downtime. It provides a fair-trading environment for the trading futures with good leverage. It is assumed to be a trustworthy cryptocurrency exchange that runs a fair, secure, honest and effective futures trading platform.
It is one of the fastest and safest derivatives exchanges. Among the numerous order types, limit orders, partial orders, conditional orders and market orders are just a few. It also offers derivative contract settlement in USDT and coins and large bonuses. It is one of the top three trustworthy exchanges based on the largest trading volumes in cryptocurrency derivatives. It has some of the lowest fees when compared to other exchanges. It does not require KYC for new users and trading is easy to start. It has an insurance fund committed to minimizing and covering losses. On the other hand, it also has some cons too. It is unavailable in the United States. High risks exist in the cryptocurrency derivatives, and it is unsuitable for the spot trading. Third parties may receive the information for marketing purposes. The number of trading pair is restricted and the trading volume statistics cannot be verified in order to determine their validity.
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Concluding Words:
Anyone who wants to avoid losing their hard-earned money in the beginning stages must have a working knowledge of trading and using exchanges. Selecting the finest cryptocurrency exchange at the beginning is very important to the entire journey through the crypto-verse. Please remember to utilize our referral code to take advantage of the sign-up bonus on your subsequent transactions once you have determined your trading style or which exchange is best for you.
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