The cryptocurrency trading market require knowledge of the market. It can allow you to earn profits. Before you begin your journey to trading, you must be aware of what cryptocurrency is?
What is cryptocurrency?
The cryptocurrency is a brand emerging asset type that can be purchased digitally, and it is driven with blockchain tech. You can trade cryptocurrencies as commodities and stocks.
A central authority does not issue cryptocurrency. Blockchain assists with the recording of transactions and efficient management. It also provides the technology that has given cryptocurrency its birth.
All records are secure and stored in a shared ledger with a secure cryptography.
If you’re aware of the definition of a cryptocurrency and what it is, you must understand where you can make use of the currency to earn.
What is a cryptocurrency exchange?
Simply put A crypto exchange lets users to purchase and sell digital assets.
The cryptocurrency exchanges allow traders to trade their assets through acting as intermediaries. They also earn money through fees for transactions.
The article we’ll review the top 10 cryptocurrency exchanges that are based on a variety of factors.
10 Best Crypto exchanges
To make a bet on the cryptocurrency market you must be aware about the various exchange platforms that offer their services. Therefore, let’s review the top 10 exchange platforms for cryptocurrency.
What is Binance?
In January of this year, Binance stood as the largest global trading exchange by volume. It’s 2021 and the platform for exchanges is still able to maintain its spot at the top of the list.
Binance is not only a trading services, but it also aid users in learning about blockchain and crypto-related education.
Where is Binance located?
The roots that led to the creation of Binance are in China but they had to change their location due to the Chinese government’s prohibition on cryptocurrency. Binance is currently based out of Japan.
Spot and Margin trading at Binance
Spot-trading: Binance provides various options for spot trading. Customers can select from a variety of interfaces for novice traders and experienced traders.
Margin trade:It is available for users to trade with a leverage of 10x or more on certain coins.
How to withdraw from Binance?
After you’ve registered as a member with the Binance platform and you begin trading, you must take out withdrawals on a regular basis.
The Binance platform allows for easy withdrawals after you have logged into your account. After that, you’ll need to click on the”spot wallet” button.
It is necessary to click the withdraw for the transaction to take place.
Binance Fees Charged
Binance offers its users a 25% discount on using Binance coin while trading.
How safe is Binance?
Binance: Pros and Cons
|speed: Binance processes approximately 1.4 million transactions.||Beginners Binance is a huge platform that could be intimidating for newcomers.|
|The Options Available: There are more 100 cryptocurrencies available to trade.||Support for customers: Due to a massive client base, it’s difficult to address every client’s complaint.|
|Secure: As Binance is the most popular marketplace for trading, its deposits will be of the highest quality.|
|Binance API The API offers you an an effective method to connect your trading application on Binance.|
Binance: Pros and Cons
What is Coinbase?
The Coinbase is among the largest trading platforms for cryptocurrency in the world. It’s available in over 100 countries, with more than 43 million verified users. It is also the most well-known cryptocurrency trader across the United States.
Coinbase is considered the perfect platform for beginners due to its simple and easy to use interface.
Where is Coinbase located?
Coinbase was first established within San Fransisco, California, the USA in 2012. Coinbase is still headquartered at San Fransisco. It has offices in a variety of cities over the US.
How to use Coinbase?
Coinbase can be accessed from any device, but it is a full browser-based platform. The first step is to register your account with the trading platform. You must then deposit money to begin trading.
When you first sign in to your account, you’ll see an option to purchase crypto, that will begin your journey to crypto.
What is coinbase Pro?
coinbase is one of the largest and most well-known marketplace for trading within the US. But, it has some features that are not for the beginner. However, Coinbase Pro provides a full cryptocurrency trading platform.
Coinbase Pro Interface
If you’re prepared to take on the task by yourself, Coinbase Pro provides you with less commissions. Additionally, it has the option of Margin trading, and allows customers to place limits, market and stop orders, all with the possibility of a lower commission.
Coinbase deposits and cryptocurrency support
Coinbase is not the only one that accepts cryptocurrency but also allows deposits into Fiat money. Additionally, Coinbase allows you to purchase and sell coins using your credit or debit cards or bank accounts.
Coinbase has a complicated pricing structure. It is extremely high if you’re not an Coinbase Professional user. The cost charged by Coinbase depends on the value of the purchase the method of payment, and even the location.
Here’s a look at the cost imposed by coinbase within the USA:
Coinbase Fee for US customers
How safe is coinbase?
Coinbase offers high-end security features and all you have to do is keep your security. Coinbase provides biometric security with two-step verification and insurance in the event of a breach in the coinbase system. However, this coverage does not apply if do any negligent act.
Coinbase keeps a majority of its customers’ money in cold storage facilities and shields the funds from theft by hackers.
Coinbase Pros and Cons
|The currencies accepted by Coinbase: Coinbase accepts Fiat currencies, which is uncommon in cryptocurrency exchanges.||Accessibility The main problem with coinbase is they’re not accessible in all countries.|
|The user interface isCoinbase has a basic focused UI.||Fess: Coinbase has very expensive fees that are the single disadvantage if the user isn’t using Coinbase Pro.|
|Currency accepted: Coinbase will only accept the top well-known and trusted cryptocurrency.||They’re not able to provide other cryptocurrency that is not well-known.|
|Secure: Security offered by Coinbase is among the top on the market. They also offer insurance.||Control of your wallet Coinbase operates as a central exchange. Thus, the user stores the money he has spent in the wallet.|
Coinbase Pros and Cons
What is a Coinbase wallet?
Coinbase also provides a cryptocurrency wallet for its customers. Learn more about it through our in-depth analysis of Coinbase cryptocurrency wallet.
What is Bityard?
Bityard is among the top cryptocurrency contracts in the world. exchanges. With its user-friendly interface and instant sign-up procedure, Bityard is a beginner-friendly cryptocurrency exchange platform
Bityard is the best platform for traders who want to gain exposure to the cryptocurrency market. It is because it provides the most efficient trading platforms for its customers. It’s also capable of executing millions of trades in one second
Where is Bityard located?
Bityard was created at the beginning of 2019 Singapore and is responsible for the entire trade from Singapore.
How to use Bityard?
Bityard provides an extremely basic, simple to use interfaces. First, you must complete the sign-up process , and then make a deposit to start trading with Bityard
Bityard provides conventional cryptocurrency contracts, as well as copy trading. Copy trading on Bityard provides the ideal opportunity for novice traders to learn how to trade and improve their trading abilities.
What is copy trading?
Copy trading lets you duplicate the trading strategies of a professional trader. To find out more about Copy trading on Bityard check out our complete guide to the copy trade at Bityard.
Bityard deposits and cryptocurrency support
Bityard accepts deposits in two ways. You can choose to transfer funds the funds from your crypto wallet and fund the account or make use of either your VISA or Mastercard to purchase a USDT.
However, there’s an alternative to you if you are to Mainland China, Indonesia, or Vietnam. Bityard will accept Fiat from customers of these areas.
Bityard offers a simple trading entry of 5 USDT. Bityard is charged an exchange fee of 0.05 percent.
However, the following formula can determine the opening and closing fee:
(Margin * Leverage * 0.05%)
Is Bityard safe?
A majority of cryptocurrency contract exchanges are under one region. But, Bityard is unique in that it falls under four jurisdictions and is controlled by:
- American money services. American money services
- Estonia’s MTR of Estonia for EU
- AUSTRAC, Australia’s national AUSTRAC
- Singaporean ACRA
Bityard only holds a tiny portion of the funds that are stored in wallets. The rest of the funds are stored in cold storage, with the highest security. It is also important to maintain your account’s security with two-step verification, as well as making sure your information is secure. Bityard assists you in avoiding scams since the entire process can be SSL encrypted.
Bityard: Pros and Cons
|They have licenses from four different regulators.|
|They charge a small trading fee.||They allow the use of only a few cryptocurrency.|
|They also accept OTC deposits.||OTC deposits are only available in certain countries. OTC deposits are only available in a handful of countries.|
|They come with a broad span of leverage, i.e. between 5x and 100x.|
What is Huobi Global?
Huobi is among the first cryptocurrency exchange platforms on the market that has been offering services since 2013.
Three months after the company’s launch, Huobi had a turnover of $4 billion. In the year 2014 Huobi has doubled this figure and had created a name for itself on market share in the Asian crypto market.
Where is Huobi located?
At the close of 2013, Leon Li had the trading platform operating in China. The platform was shut down in China has banned cryptocurrency trading in 2017. Huobi relocated their headquarters from Seoul, South Korea, and still runs its business globally from Seoul.
How to use Huobi?
In the beginning, you’ll need to sign up for your account initially on Huobi Then, you’ll need to finish the KYC verification procedure.
Huobi can be described as an extremely advanced platform, consequently, it offers an interface that is geared toward beginners.
Huobi Cryptocurrency support and deposits
Huobi accepts almost every cryptocurrency for deposits. Additionally, Huobi also provides its customers with the possibility to deposit funds by debit or credit cards, or even bank transfer.
Huobi does not have a set withdrawal fee , as they change it every so often in line with market. But, Huobi provides VIP membership, which can cut costs by as much as 60 percent.
It is also possible to use the the HT tokens to reduce the cost in half by storing them in your wallet , and making use of them when you make the trade or withdrawal.
How safe is Huobi?
The most important and frightening aspect of centralized exchanges that they are at risk of being compromised. Yet, Huobi has not lost one single Bitcoin and boasts that your assets are safe under their highest security. Huobi has just launched its User Protection Funds.
Huobi: Pros and Cons
|They also provide a user protection fund in the event of a hack and lose any money.||They provide a very low withdrawal limit that is even lower for KYC users who are not KYC users.|
|Huobi has the perfect balance of an advanced and easy to use trading platforms.|
What is Bitmex?
Since its inception in the year 2014 it has been able to prove itself as one of the top platforms for trading crypto. Bitmex provides leveraged contracts and is a peer-to-peer trading platform.
Bitmex lets its customers purchase or sell assets with Bitcoin. Additionally, Bitmex only handles bitcoins and all profit and loss is recouped in Bitcoin. Bitmex doesn’t accept any Fiat currency.
Bitmex does not have any trading restrictions after registration for users is completed. But, Bitmex has been in the process of an investigation within the US and hasn’t been able to provide services to US residents.
How to use Bitmex?
Bitmex provides a dated user interface. It’s almost as if the developers didn’t update their website following the year when it was first launched. It’s functional and contains all the needed details.
To trade on Bitmex to trade to trade with Bitmex, you must first to sign up. When you’ve completed your initial trade will be able to see the trades in order.
Bitmex has created its interface with the needs of a desktopcomputer, therefore, you’ll see the complicated screen that you see the moment you visit their website. But, Bitmex is one of the first cryptocurrency exchanges that provide 100x leverage for trading.
Bitmex does not charge a fee for withdrawals or deposits. However, they have an initial Bitcoin Network fee, which is dependent on Bitcoin.
Bitmex has a fee for the maker as well as the taker fee and the settlement fee in accordance with the leverage.
How safe is Bitmex?
Bitmex makes use of Amazon web services in order to make sure that its servers are secured, and a variety of security tools are available. Bitmex is committed to the security of its customers assets very seriously. For more information on their security, click this page.
Bitmex Pros and Cons
|Only Bitcoin marketplaces||The mobile app and app is available.|
|High exchange of liquidity||The minimum amount for deposits established for all traders.|
|Customisable widgets are included on the version for desktops.||Bitmex is the only bitcoin exchange platform that allows trade and withdrawals only during a specific time within a given day.|
What is Gemini?
Gemini is among the few cryptocurrency exchanges within the US. It is specifically governed by NYSDFS. Gemini allows you to trade and store more than 20 of the most popular cryptocurrency. Gemini is mindful of beginners along with experienced trader. Gemini is one of the few platforms to offer its services based on an investment’s capabilities.
Gemini is now offering their credit card with an interest rate of up to 3 percent in bitcoin or other cryptocurrency.
Where is Gemini located?
Gemini began to come into being in 2014 by the people who created ConnectU. Yes, you read it right it was it was the Winklevoss Twins (the precursors of Facebook). At present, Gemini is constantly expanding its user base especially across Asia in addition to Europe.
How to use Gemini?
After you’ve completed the signup procedure, you’ll need to open a new account in order to begin trading. Gemini gives you an app for mobile phones that includes an interface for users that is the primary one.
What currency does Gemini accept?
Gemini allows deposits in nearly all important digital assets. Recently, it began accepting Fiat currency. The only difference is that Gemini will only accept USD as the Fiat currency. Furthermore, Gemini accepts wire transfers from any other country as well as ACH from citizens of the US.
How safe is Gemini?
Gemini provides one of the most secure securities on the market for crypto. Gemini protects your assets from threats from hackers and ensures that it isn’t prone to human mistakes. Gemini also follows strict rules and ensures that your assets are inaccessible to Gemini’s staff to ensure that no one is able to misuse insider access.
Gemini Pros and Cons
|Simple sign-up procedure and a simple interface for users encourage the newcomers.||They take commission as well as the convenience fee that users pay.|
|Exchanges that are completely regulated||The lack of modern trading tools|
What is Bitfinex?
Bitfinex is among the top cryptocurrency exchange platforms. It provides its customers with peer-to-peer platform and margin trading of various assets.
Bitfinex is run by experts who have decades of experience. They are able to grow every day to provide customers with a platform that is that is unlike other. However, in 2015, a security breach resulted in the loss of nearly 1500 bitcoins
Where is Bitfinex located?
Bitfinex was established in the month of December in 2012 and is headquartered located at Hong Kong. However, it has been involved in several mishaps over the years and you can read about them more about in this article.
How to use Bitfinex?
Bitfinex is specifically designed to meet the demands of professionals in trading and provides a user-friendly interface. It is possible to access Bitfinex via the devices of your Android as well as iOS.
After you’ve completed your registration process, you’ll be required to deposit a certain amount to start trading.
Bitfinex deposits and cryptocurrency support
Bitfinex accepts deposits in all of the principal types. This includes deposits made with cryptocurrencies, through Fiat credit cards, and debit cards.
You can find Bitfinex fees for trading in the pictures below or go to their website.
Bitfinex has a charge on wire deposits as well as withdrawals that can be:
How safe is Bitfinex?
Bitfinex gives its customers two-factor authentication U2F advanced API key permissions for API keys, advanced security tools for verification, protection from withdrawals and email encryption using Open PGP.
As with any other central cryptocurrency platform they store a majority of the assets of users in cold storage that is offline.
However, their turbulent history can make it difficult to believe in their security, but it’s taken a while and they’ve certainly learnt from the mistakes of their past
Bitfinex Pros and Cons
|They provide a range of professional services, while keeping their user interface simple.|
|A low rate for withdrawal and trading fees.||The biggest disadvantage comes from the security breaches that occurred in 2015.|
|Buy cryptocurrency with credit cards.||They take a significant amount of time and effort to confirm the user’s accounts.|
What is Bittrex Global?
Similar to the majority of the older cryptocurrency platforms that make it into the top 10 most popular, Bittrex also is one of the most reliable cryptocurrency exchanges. Bittrex does not distinguish between novice and expert customers and is a leading provider of technology to both.
Bittrex lets you trade only after you’ve been through and cleared their documentation verification
Where is Bittrex located?
Three individuals created Bittrex in the latter half of 2013, in USA. The three founders were all ex-workers of Microsoft. Bittrex is currently operating from Liechtenstein.
How to use Bittrex?
Bittrex offers its services to clients all over the world, except for the USA. However, customers who reside in the USA are able to reach Bittrex Inc, a different business.
After the registration process, you will have to make a deposit in the cryptocurrency that is accepted by Bittrex. They offer a quick and easy-to-use interface that can aid you in beginning your journey into crypto. They do not provide Margin trading, something that experts may lack when trading.
Bittrex deposits and cryptocurrency support
The deposits in the US can only be made via wired transactions. But, anyone around the world can make use of most cryptocurrency and altcoins for deposits.
As per Bittrex the company, they have among the lowest commission rates in the marketplace, compared to their rivals.
In addition they also charge the transaction fee that is controlled by blockchain based on the market.
Is Bittrex safe?
They provide one of the most secure security features among the various cryptocurrency exchanges. Similar to all of them, their main competitors offer two-factor authentication to keep the personal information of the users secure.
Bittrex store all of the funds of their users in cold storage offline, which is very secure and protected.
Bittrex Pros and Cons
|The services they provide are extremely safe, and the funds are safe from nearly all threats.||There have been some issues with their support for customers.|
|They accept a range of fiat and crypto currencies.||It isn’t easy for newcomers to adjust to their new platform.|
What is FTX?
The FTX is among the most trusted cryptocurrency trading exchanges in the world and is the leader of the younger generation that is looking to the future. FTX is recognized as an exchange for traders and for traders. With their renowned and growing technology, they provide its services to traders on the market.
They believe in creating an interface that is simple enough to begin your trading journey, but also strong enough to allow experts to operate it effortlessly.
FTX has just announced it’s Spot Margin Trading. You can check it out on the site.
Where is FTX located?
Sam Bankman-Fried, who graduated from MIT and trader himself, was the one who laid the development of FTX. Before the launch of FTX it was also the time to lay the foundations for Almeda, a renowned cryptocurrency liquidity service.
Its headquarters for the FTX is located at Antigua as well as Barbuda.
How to use FTX?
FTX is a reputable network within the crypto industry along with other top crypto venture funds support it. They are one of the first to offer a range of services for investors. .
It’s simple to start trading with FTX.. All you have to do is set up your account and then deposit the amount you want to transfer. FTX can leverage you up to 101x, which can be highly profitable for its customers.
Before you can begin you’ll need to finish your KYC.
FTX deposits and cryptocurrency support
The FTX is user-friendly and lets users deposit funds using any of the cryptocurrency they have available. They also allow credit and debit cards as well as fiat transfers which is an added positive for their customers.
FTX does not charge any charges for withdrawals or deposits. Furthermore they don’t charge any charges for any future payments and OTC trading.
FTX provides a tiered fee structure, which is described below:
Is FTX safe?
Since they are brand new in the world of cryptocurrency They must be extra cautious about how they stored funds. But, the developers of FTX don’t provide any details about their security procedures.
Check out our review of the crypto exchange FTX to know more about the exchange platform.
FTX Pros and Cons
|Trades are possible without KYC. It can however limit your trade options.||It’s a brand new platform.|
|You can use your credit card to buy cryptocurrencies.||Leveraged tokens can be risky.|
|There are no fees.|
What is Deribit?
Deribit is a combination of the words ‘derivative’ and ‘bitcoin.
Deribit provides options and futures trading services for more experienced traders than it does for newbies in crypto trading.
This platform excels at offering leveraged trading. It offers a leverage up to 50x for Etheruem or 100x for Bitcoin.
Where is Deribit located?
Jon Jansen, its founder, created Deribit in 2016. It is based out of Ermelo in the Netherlands, and continues to serve its customers around the world.
How to use Deribit?
First, you will need to create an account. Next, register with your email. Next, you will need to complete your KYC. This will improve your trading experience.
What payment methods are accepted by Deribit?
Deribit allows you to transfer Bitcoins. To withdraw, you have to click on the withdraw tab, and submit the request for withdrawal of the amount you want to draw.
It follows a model of maker-taker. There are two kinds of orders. The “maker” order adds liquidity to the order book. It’s executed in a matter of minutes. It is executed instantly “taker” orders removes liquidity from the order book. It’s not executed immediately.
|Contracts||Maker Fee||Taker Fee|
|BTC Futures/ Perpetual||0.00%||0.05%|
|ETH Futures/ Perpetual||0.00%||0.05%|
|BTC/ ETH Options||0.03 percent of the base amount, or 0.0003 BTC/ ETH per contract.||0.03 percent of the base amount, or 0.0003 BTC/ ETH per contract.|
The fee for options cannot exceed 12.5 percent of the options price.
Additionally, there is an additional charge for futures delivery and options. It’s 0.025 percent and 0.015 percent for options and futures respectively.The extra charge for options should not exceed 12.5 percent of the options price.
There is an additional cost for liquidation. The fee will be added into the fund in a way that is automatic.
How safe is Deribit?
According to Deribit the majority of its assets have an abode in cold storage that is in offline methods. They are thus protected from being targeted by malicious hackers. It also slows the time required to withdraw money from customers.
Deribit offers a service known as IP Pinning. If there’s a change to your IP address the system will end your session. The company also offers two-factor authentication. You’ll have to enable it once you’ve set your account.
Check out the Deribit Review to know more about the platform.
Deribit Pros and Cons
|They provide high leverage in comparison to their competition.|
|They have insurance fund protection.||They don’t accept Fiat currency.|
|They have a perfect record without any security breach.|
Best Crypto Exchange: Conclusion
The majority of trading platforms have advantages and drawbacks. However, not all platforms offer all the features needed by traders. In our experiences, we would recommend you choose Binance as it is the world’s biggest cryptocurrency trading platform. It is the world’s largest crypto trading. However, Coinbase and Bityard They also provide services that are similar to Binance.
Cryptocurrency Exchange: FAQs
What is the best cryptocurrency exchange?
A platform that has high liquidity, safety, and low costs, and a user-friendly interface that is a great cryptocurrency exchange.
Which exchange for cryptocurrency would be most suitable for novices?
It all depends on the service you’re looking for from a cryptocurrency platform. We believe that Binance or Bityard are able to meet your needs for a beginner.
Which exchange for cryptocurrency would be the best choice for novices?
The answer is dependent on the service you’re looking for from a cryptocurrency platform. We believe that Binance or Bityard are able to meet your needs as a novice.
Do you know of any cryptocurrency exchanges that are based on the USA?
Certain platforms are not regulated in the USA. Examples include Bityard, Coinbase, Gemini and so on. However the majority of platforms do not conform to the standards that are set by government agencies like the US government. These platforms don’t offer their services to the people in the USA.