You’ve made your first successful steps in the crypto world – got a wallet, purchased you first BTC (or Dogecoins;)) and come up to the question closely – where to trade cryptocurrency? The time has come for you to mature up. We provide you with a short overview and detailed description of the actual and best performing exchanges & cryptocurrency trading platforms of the cryptomarket. Read our article and make the right choice when you engage in the sector of digital finance.
Despite the volatile markets, crypto coins trade volumes grow every day, and as a result, the list of global stock exchanges is regularly updated with new trading platforms for cryptocurrencies and numerous altcoins.
What is a Cryptocurrency Exchange? It’s an online platform that allows you to buy or sell digital money online. These cryptocurrency trading sites grow in number fast – as back in 2016 there were as many as 10, but nowadays more than 300 decentralized exchanges exist and operate around the world.
A decentralized exchange (DEX) is a cryptocurrency exchange which operates in a decentralized way, i.e., without a central authority. Decentralized exchanges allow peer-to-peer trading of cryptocurrencies.
The purpose of any exchange should be to provide fair and orderly opportunities for any investor in the market. Exchanges make money, charging a small fee for transactions that occur on their platforms.
When choosing the best cryptocurrency trading platform, we are primarily driven by commercial interest: having come to a particular exchange with a certain amount of money, we expect to increase our capital and gain experience that will further help us use exchanges as a source of permanent income.
After reviewing the current list of exchanges and their features, the user can select sites that have already proven themselves, and thus minimize their risks.
We’ve already given you little insights into how the crypto industry works, and now the time has come to reveal the options for you – where your activity will take place. There is an old saying that we judge a person by his clothes, and when speaking about cryptocurrency exchanges — the same goes for their reliability.
The problem of choosing the best trading platform for cryptocurrency is that each of the existing exchanges declares a full guarantee of the safety of user investments, but it is clear that not all of them can equally provide it. It is necessary to understand that even the most reliable sites, with the most thought-out and debugged system of work, can’t guarantee 100% safety of your money.
Therefore, the first thing to do before starting a currency operation is to study the security level of a particular exchange. Also, best of all to get acquainted with the reliability rating of popular trading platforms, compiled from expert evaluation and trading experience. It includes those cryptocurrency exchanges that are almost impossible to crack due to the multi-level protection of user accounts. Objective and up-to-date rating of existing sites, as well as personal caution and intuition, will allow you to make an obvious choice and not to worry about the safety of your funds.
So, what’s the best place to trade cryptocurrency? Top 3 most reliable cryptocurrency trading sites for it are presented below, which undoubtedly will not disappoint you:
Binance exchange is praised as No. 1 place to trade cryptocurrency in the world by many due to its popularity and reliability – crypto daily trading volumes are more than $1,2 billion. It was founded in 2017 but has already overtaken the worlds regarding average daily trading volume. It’s the fastest growing Chinese exchange with its cryptocurrency BNB, which was created to attract initial financing with the help of ICO. Traders are drawn by low commissions which are usually 0.1%, and it is also important to note and outline the high performance: this exchange processes up to 1.4 million orders per second; the platform supports the most popular cryptocurrencies and makes it possible to have a wallet for each of them. Binance also provides a wide range of professional tools for trading and analytics. Most analysts say it’s one of the best trading sites for the cryptocurrency.
Another major player, OKEx, is the top Russian-language exchange, secured with bank-level SSL encryption and cold storage. Distributed servers for high-speed bitcoin trading based on real-time data. The exchange offers the ability to withdraw in rubles, dollars, and euros (the most popular pairs BTC/ RUB, BTC / USD, DASH / RUB, ETH/USD); has a high speed of work: for transfers within the network it takes just a few seconds, and for the withdrawal of funds from 5 to 30 minutes; low Commission-0.2% per trade. The current trading volumes are more than $995 million due to Coinmarketcap.com
Huobi exchange takes 3rd place in the world ranking of cryptocurrency exchanges regarding the total trading volume, which is $700 billion in 24 hours( according to CoinMarketCap). Reliability: 5-year experience in the field of financial services of digital assets. Increased security is also a decent feature: the platform uses a specialized distributed system of protection against hacker attacks, and 98% of user funds are stored offline on “cold” wallets with multi-signature. It’s focused on the user: priority-compensation system and investor protection fund are created for those purposes. Constantly expanding global blockchain ecosystem is present: service centers around the world. Huobi has cashback privileges: invite friends and get 30% of their commissions. Also, finally, multiplatform access: mobile applications for all platforms (iOS, Android, Windows, and Mac).
Future solutions for personal trading
However, choosing the best site to trade cryptocurrency is not easy, you also need to pay attention to many factors. Being not a professional player, you may need to look for different advanced solutions to enhance your trading and help you bring profit instead of taking a risk and losing everything at all. Why trust your hard-earned funds to some exchange, when you can use a particular designed tool for that and perform your work faster and easier?
The HiCo Trading project team has created a promising, easy-to-use and necessary terminal to work with based on many years of trading experience.
Moreover, It will no longer be required to use several applications at the same time – the available HiCoTrading functionality will make it possible to trade much more efficiently than before. Besides, our platform will be continuously updated and improved, which will undoubtedly provide its demand in the world market for years to come.
We outlined the leading players on this battlefield. However, it is up to you to choose the best crypto trading platform where to trade crypto anyway! Pick up wisely!