Best Cryptocurrency Exchange
Best cryptocurrency exchange: top prompts on how to buy cryptocurrency
Buying cryptocurrency has been one of the most brilliant types of investment in recent years. With an exceptional boom in the crypto trading, more and more beginners and experts in the area are searching for the best solutions for purchasing and selling their cyber money on a global crypto currency market. This made cryptocurrency exchange sites to become one of the hottest spots for different city men all over the world. Where to buy cryptocurrency? How can you pick up the best exchange platform for your needs? Find the most advanced data about various aspects of cryptocurrency trading in this post.
Cryptocurrency exchange: top concepts you should know
The market of crypto is extremely diverse and is ready to offer each newcomer and professional almost anything they need. If you have a plan to purchase digital money, the first step of your activity should be visiting an exchange. It is a specially designed platform that is developed to allow users to sell and buy crypto money for either another digital currency or real money (for example, the US dollar)
Another thing the one should also know about the digital market is that some exchange websites don’t require any verification, while the others might ask you for some personal data (such as a scanned copy of your ID card) This is a common practice you shouldn’t worry about - in case you choose a secure and reputable service, all your data will be completely safe. Therefore, when searching for the best crypto exchange site, you will need to pay attention to its feedback. By the way, the services that don’t require any verification, are usually also reliable and user-friendly.
The common types of crypto exchanges: pro platforms
There are several classifications of the cryptocurrency exchange sites. Below we will provide you with a detailed description for just two of the most common ones.
Crypto to crypto. This type of website gives all its users plenty of opportunities to barter various types of digital currencies. For example, you can give out your Bitcoin and get Etherium on this type of service. You can’t purchase or sell crypto for standard state currencies.
Fiat. This option is for buyers and vendors, who would like to change crypto for regular government money, such as Euro, the US dollar, and others.
As for the second classification, it is based on the way the exchanges are performed between the users:
Brokers. These are users who sell out and buy crypto for a standard market cost with a small fee. This price is set up by the brokers themselves.
Traditional platforms. These are middlemen, who connect vendors and customers together.
Direct trading. This type of service allows sellers and customers to interact directly. The service itself is operating as an intermediary.
There are also some more advanced classifications of the top cryptocurrency exchanges. However, the most common division is provided above for your convenience.
Picking up and exchange: top features to pay attention to
When you start surfing the net for a perfect platform to suit all your needs, you will surely come through various alternatives that might look absolutely similar. How can you choose the best one? That’s not difficult at all. Just make a list of the most important features and compare the chosen services according to it. To make your job easier, we’ve picked up the most vital features to compare right here below.
Feedback. When you are planning to purchase some gadgets or any other type of product, you usually start with searching for the feedback of real users, who have already tried it. This rule will surely work for exchanges, too. When you see several completely similar solutions, just look for feedback and decide which one has a better performance.
Reputation. This feature is one of the vital options for making the right decision. Avoid picking up cheaper platforms in case they have a bad reputation or anything that makes you feel suspicious. Your excellent website should have a good reputation and a long history.
Location limits. Some services are working globally, while others might appear to have certain geographical limits. It is better to know the number of countries your service supports in case you are planning to trade on an international scale.
Verification. There are lots of websites that will easily assist you in trading crypto 100% anonymously. These are usually simple and convenient solutions, designed mostly for beginners. In case you are a pro trader, you might need a more feature-rich solution with countless functions to suit your needs. This way, you might decide to try using apps that might require verification.
Fees. Most sites will charge you a fee when using their services. Various platforms might have completely different fees, so it is better to know the numbers in advance. Don’t forget to pay attention not only to the standard fees but also for the additional ones that might also take place when using the app.
Exchange rate. This is one of the features most experts begin with. The prices on the market can significantly vary, so it is recommended to compare a couple of platforms even in case the rate seems good for the first glance.
Methods of payment. Like e-commerce solutions, different exchange programs might offer a different number of payment options. This might include PayPal, credit, debit cards, as well as some other popular methods.
Security. When picking up your favorite program, don’t forget to double-check its security measures. It is better to learn the most up-to-date safety tools available in the area and than just compare the list with a chosen cryptocurrency exchange provider. This way, you will get a clear picture of whether you are planning to try a safe solution.
Supported coins. If you are going to trade coins that are not hitting the top 3 list of the most popular ones, it is better to check whether your crypto is supported by the system. By the way, there are some services that are focused on dealing with only one type of digital money.
Usability. If you are a newcomer to the world of cyber money, it might be a good idea to make sure the service you’ve decided to try is user-friendly and completely understandable. This feature will save you lots of time and effort.
What is the best cryptocurrency exchange platform?
This type of crypto continues to be among the leading coins since 2011. The company deals with lots of different types of currencies, including Ethereum, Bitcoin, Litecoin, and Ripple. The service gained the reputation of one of the most secure exchange platforms.
The program deals not only with crypto-to-crypto pairs but also handles different types of fiat transactions. This means you have complete freedom of choice on how to trade with the help of the service. This type of coins has recently become a partner of the first global crypto bank that is surely a good sign for those looking for a reliable and trustworthy solution.
However, the platform is designed mostly for professionals. This is an extremely feature-rich solution that might be found a bit confusing for beginners. In case you are pro in crypto, you will surely find an advanced Kraken functionality very handy. The only platform’s drawback is a low processing time. Moreover, the website offers a limited number of payment methods, so it is better to make sure whether you can use your favorite payment options for using the service.
The service is known to be among the leading trading and brokers solutions for cryptocurrency exchange worldwide. The platform was created in 2012 and gained whopping popularity since then. The fact is that Coinbase continues to be a perfect service for beginners since it has a completely intuitive and easy-to-use design. The system supports different popular types of coins (the coins available depends on your country of residence)
What makes it even more convenient is the mobile app for both iOS and Android users, Handling transactions on the fly is now possible with Coinbase. As for safety, the program has a flawless reputation. Moreover, it uses the most innovative security measures and provides insurance for all the stored cryptocurrencies. Among the app’s benefits are also extremely low fees and a wide range of various payment options. However, the service lacks a reachable support system and has a limited number of supported countries.
The platform is considered to be the best place to buy cryptocurrency, according to thousands of experts. Being one of the leading services in its area, Poloniex allows trading for more than 100 types of crypto money. The number of pairing is really amazing, so you are likely to find the best option for your needs with minimum efforts. The program will satisfy both newbie and pro users since it has a brilliant functionality and a well-polished interface. The service is currently one of the platforms with the highest trading volumes with a whopping number of people using it in numerous countries.
The fees, offered by the program are minimal and usually range from 0 to 0.25 according to your trading role (the fees are different for takers and makers) Furthermore, Poloniex has no withdrawal fee which is very handy for those trading in high volumes.
The service has a unique chat option, where you can ask any question about using the platform and get pro advice.
Binance is another handy solution for those searching for crypt-to-crypto transactions. Being a relatively young platform, the service is gaining incredible popularity due to its pleasant interface, useful functions, and top-notch security measures. The application has two versions: the first one is for beginners, while another one with a feature-rich menu is designed for crypto experts.
The program can be used worldwide and is one of the cheapest solutions on the market. The service is known to support a large number of countries, so you can benefit from trading on a global scale.
As for the fees, Binance offers reasonable deposit and transaction fees, making it affordable to thousands of users. In case you face any issues when using the service, its reachable and fast to respond support team is always ready to provide you with the professional aid. Unlike most crypto exchanges, Binance has its own currency called BNB that can be used for performing various types of operations.
Unfortunately, the system has no options for fiat operations, as well as its number of payment variants is limited.
The service is one of the first platforms that appeared on the market of crypto exchanges. CoinMama is an excellent option for beginners that allows purchasing the needed coins using your credit or debit card. The solution handles operations with a large number of local currencies, so you are likely to find the one you need with ease.
However, this popular solution doesn’t have an embedded wallet for storing crypto. However, in case you have your own wallet, this will not be a problem. What is also great about using CoinMama is a large number of positive feedback from real users. The system has a handy interface and superfast transaction time for those who hate waiting too long.
With over 3 million accounts, the solution is hitting the list of the best exchanges on the global market. The platform supports purchasing and selling various types of crypto for different fiat money in an easy and fast way.
The system is a universal product that fits perfectly both beginners and pros, providing lots of advanced functions for those looking for expert trading options. Cex.io also has a number of API solutions for those who prefer automated trading. However, the program is known for its strict verification procedures. The fees are different and depend on the payment option you choose.
The final words
The market for exchanges is on the rise. Dozens of new services appear online, offering exclusive promotions and excellent sales. However, you should always be careful when choosing the best solution for your needs and compare plenty of parameters before making the final decision.
The most important features you should pay attention to are the reputation, the number of supported types of coins, location limits, security measures, and customer support quality of your platform.
What is a top crypto exchange for newbies?
This depends on your personal goals and the type of crypto you are planning to deal with. Moreover, it is necessary to pay attention to whether you are going to use state currencies or prefer crypto-to-crypto transactions. Generally, there is no universal solution that will suit the needs of any beginner for 100%.
What is the best way to deposit into a certain exchange?
Making a deposit into a certain platform depends on its type. If you are using fiat systems, you might use your bank account or other common methods of payment. In case you are only a crypto enthusiast, you will see an interface that will connect you with your wallets or other digital storage.
How can I withdrawal from a platform?
The withdrawal process depends on the type of service you are using. For example, for fiat systems, you might get your money directly to the bank account, or in some cases to your credit/debit card. For crypto-to-crypto operations, the coins might return to the same wallet.
What are the most common types of exchange solutions?
These are brokers, trading platforms, and direct trading solutions.