26 Sep 2019 #Bitcoin
Anyone who wishes to make a profit by trading digital currencies needs to make a few important preparations before they start trading and investing. The most important one, of course, is research and information gathering. You need to know what you are doing, and where you can profit the best from doing it.
In other words, you need a good crypto exchange that will provide you access to all of your favorite coins. However, the exchange also needs to be secure, located in a proper region in order to avoid regulatory issues, and alike. You should also pay attention to their fees, reputation, whether they were ever hacked or not, how transparent they are, are they regulated or not, and much, much more.
While you should definitely keep those things in mind and check them out before choosing an exchange — allow us to present you with some of the best choices currently available.
Binance is often considered to be the best and the biggest crypto exchange in the world, and especially now, and 2019. Earlier this year, its ecosystem exploded, and so did the price of its native token. Not to mention that it attracted a lot of attention thanks to the fact that it came up with a new token sale model — IEO.
Simply put, Binance is extremely popular, with millions of users, and hundreds of millions in trading volume. It is also an exchange with a huge number of different altcoins listed, it is well-respected, and it has quite low trading fees, below the standard. Meanwhile, you can reduce them even more if you use its Binance Coin (BNB).
Next, we have Coinbase — the biggest exchange in the US, and one of the biggest in the world. It is definitely extremely popular and respected. Coinbase operates on two separate platforms — Coinbase, which lets you buy cryptocurrencies, and Coinbase Pro, a platform for trading.
The exchange's main goal is to make cryptocurrencies easy to use and easier to trade. It does all in its power to push crypto adoption, and it seems to work, albeit slowly. It also has great security, and it was never hacked.
In the third spot, we have Bittrex — an exchange that manages to maintain an exceptional quality of service. It is capable of handling huge amounts of trades per day, and it includes numerous altcoins and not just Bitcoin. Not only that, but it is very easy to use, and it feels very well-developed.
It also features great security, it is considerate of its users, and while it does have high trading fees, they are still mostly in the range of average. Additionally, the exchange has completely eliminated withdrawal fees, which is very rare in the crypto space.
Close to the end of the list, we have Poloniex. Now, this is another US-based exchange which comes across as extremely professional, and it targets experienced traders who know what they are doing. It offers standard trading options, but also margin trading for over 90 different trading pairs.
Its fees are at a similar height as most others, although its identification system is a bit overly-complex. But, this system also comes with its own benefits, and the more information about yourself you provide — the higher the limits that you can access.
Finally, we have Kraken, which is one of the oldest crypto exchanges out there. Kraken has been around since 2011, and it offers a huge number of different trading pairs. At the same time, it has a very strict listing policy which ensures that not just any coin ends up being listed.
Kraken is also available in more countries than nearly any other exchange out there, and it is also a great entry-level exchange. It can get competitive when it comes to Coinbase, which is considered to be its rival.
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