The cryptocurrency market differs significantly from other currency markets, first of all, because everything here is unofficial. Cryptocurrency is not backed by anything at this stage of development, and no one is responsible for it. However, this does not prevent millions of people from making money from bitcoins, litecoins, etherium, and other cryptocurrencies.
One of the most powerful tools for making money is cryptocurrency exchanges. Many people use exchanges to buy, sell and exchange cryptocurrencies. It’s more complicated than exchanges, but you can save money on exchanges or make money on speculation.
What are cryptocurrency exchanges, and how are they better than exchangers?
In a nutshell, a profitable exchange is an exchange, and a fast exchange is an exchanger. If you want to save money, you have time to search, and you can also wait until there is a good offer — the exchange is the best choice for you. No time — look for the best exchange rate.
Exchanger provides a platform for transactions in many areas of exchange. The exchanges themselves are between members of the trade, and the exchange itself is needed to bring people together and guarantee that the transaction will be fair.
Below is a list of cryptocurrency exchanges that are the best to work with. The list of the crypto exchange below is not the truth in the last resort.
Exchange #1 — Binance
Binance — appeared in 2017 but managed to gain popularity among traders. Professionals created it to meet the modern requirements of the market.
The speed of work distinguishes Binance. It also has a low commission in comparison with its competitors — 0.1%. And at the same time, high-security standards are observed, without which it is impossible to succeed in the cryptocurrency market. The exchange can work with the phone, which increases the convenience.
Many coins can be traded here, including BTC, ETH, LTC, and BNB.
Exchange №2 — EXMO
EXMO has many ways to deposit money, including popular payment systems. Cryptocurrencies such as Bitcoin, Dogecoin, Litecoin, Dash, Ethereum, and EX-CODES (codes of EXMO exchange itself) can also be used for a deposit. The total transaction fee is 0.2%. For inexperienced users and those who need to exchange cryptocurrencies quickly, the “Exchange” mode is provided.
BitMEX — cryptocurrency exchange number 3
BitMEX is Hong Kong’s officially registered cryptocurrency exchange designed to make money from speculation, specifically, futures on the rise or fall of bitcoin and a dozen other popular altcoins. Now it is the only instrument you can make money on both the rise and fall of cryptocurrencies. On the site, you will find cryptocurrency list prices.
#4 — LocalBitcoins cryptocurrency exchange
LocalBitcoins — here the money is not deposited or withdrawn to the exchange but is a direct exchange with a counterparty (the same as a user). And all this is done manually. You choose a suitable request, carefully read the proposed transaction terms, pay with the specified details and wait for the counterparty to pay you back. This exchange implements the p2p principle, i.e., direct trade between people (traders).
ByBit is an exchange that specializes in operations with cryptocurrency derivatives. It provides a high speed of transaction processing with a smooth operation indicator of 99%. The main trading instrument is futures (open-ended) contracts based on cryptocurrencies. Supported trading directions — BTC/USD, ETH/USD, XRP/USD, EOS/USD.
KuCoin — quite a young Hong Kong bitcoin exchange with an excellent interface. It is rapidly gaining momentum (daily trading volume is measured in hundreds of millions of dollars). You can trade on many cryptocurrencies, which list is constantly expanding. The transaction fee is minimal, but it can be halved further by paying with Kucoin Shares (KCS) tokens.
The WhiteBIT exchange provides a high level of security for user data and their funds. At the same time, it provides a large number of tools for trading and exchanging cryptocurrencies. It has a European license for financial and exchange activities. More than 300 thousand users from 190 countries are registered on the platform. Allows trading more than 350 currency pairs.