THE TOP 5 CRYPTO EXCHANGES IN THE WORLD YOU SHOULD KNOW ABOUT

Introduction

Crypto Exchange is a very important part of the Cryptocurrency EcoSystem. Crypto exchanges are the platform where transactions take place. You can also purchase Bitcoins in crypto exchanges.

It is a marketplace in the digital sphere that allows traders to purchase and sell Bitcoins. Do note that fiat currencies and altcoins can also be used in crypto exchanges. Since you have clicked on the link to this blog, there is a high chance you are a Bitcoin investor, or you are someone who likes to keep a keen eye on the crypto space.

And why should you not? Given all the buzz that cryptos are making in the financial markets. Bitcoin is the most famous cryptos, so I will be talking only about bitcoins in this blog for the sake of convenience.

 

Crypto Exchanges 101

A Crypto Exchange’s primary objective is to act as a broker and bring a buyer and seller to one place. It is pretty much like a traditional stock exchange; the only difference is that everything related to crypto exchanges happens digitally.

However, the process is not that different. On Crypto exchanges, traders have the option to sell and buy Bitcoins after inputting a value or order. When a trader selects the market value, the crypto scans the best market value available for the Bitcoins and presents it to the trader. Visit daily profit to start investing.

In order for a trader to transact in bitcoin, he needs to get himself signed up with the exchange platform. And then go through the various amounts of verification procedures. Once the trader has successfully verified his identity. He can start trading. But before that, he needs to transfer his fiat currencies to Bitcoins, and only after that, he can buy Bitcoins.

The currency exchange methods vary from exchanges to exchanges. Some allow users to transfer it via wiring through the bank; some well-established exchanges allow a direct transfer from the bank. Some allow the use of credit and debit cards.

 

Features of a Crypto Exchange

Crypto Exchanges have a lot of features that will ease up your transaction process.

  • Crypto Exchanges are decentralized – Decentralised means it operates without any governing body. There are no intermediaries in between. It offers peer to peer trading without having to show an account of your spending to the regulatory body.
  • Low Processing Fees – As crypto exchanges are decentralized, it is a peer to peer connection.

 

The Top 5 Crypto Exchanges In The World You Should Know About

There are more than a thousand crypto exchanges; trying them out one by one will take a lifetime. So as a crypto investor, I have personally selected the top five most popular crypto exchanges that you ought to know about.

1.    Gemini

The most widely used Crypto exchange on the face of the Earth is Gemini. It is perfect for all the major cryptocurrencies, but when it comes to Bitcoins. The only little drawback that I find in Gemini is that it asks for way too much personal information.

2.    Etoro

Etoro is more of a financial trading service than an actual crypto exchange, but it is worth talking about nonetheless. Crypto investors hold this app in high regard; it has a very good reputation. It has very high processing fees, which may annoy some traders.

3.    Kraken

When it comes to security, none can match Kraken. Apart from that, it has a very big user base. And it also charges very low transaction fees. A handful of traders do not like Kraken as it does not offer the best customer support services.

4.    Binance

Unless you had been living a rock, you must know Binance. Binance is the go-to crypto exchange. You get to see the ads of the Binance app over the Internet a lot. Binance gives you the added advantage of trading huge amounts of cryptos in a single time. Binance is only meant for experienced traders. It is not recommended for newbies.

5.    Coinmama 

Coinmama offers very strong security. The UI is user friendly. The best part is the customer support. I personally like Binance the most because it takes a step further and makes sure that proper security measures are implemented and add to that its classy user interface.

Many traders may not like Coinmama as the significant-high processing fees.

 

Final Words

There you go, there was the list of top 5 crypto exchanges. Please invest your money at your own risk. You should have a very strong knowledge of the crypto market before investing. Otherwise, you may face huge losses.

 

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