Cryptocurrency Exchange or Digital Currency Exchange is a company that involves the exchange of cryptocurrency with other assets such as for example money or some other digital currency. It is a net service that provides electronic transactions in electronic forms and taking fees for them. crypto
Any transactions or operations to Digital Currency Exchange can be made through debit and bank cards, postal money order or some other forms of money transfer. This article is approximately discussing the many cryptocurrency exchanges which facilitate crypto currency trading for novices and what they provide in terms of availability, simplicity, security, deposit/withdrawal methods and fees. Hopefully this guide to cryptocurrency trading might help you get started with cryptocurrency exchanges.
Coinbase/GDAX
Coinbase is among the biggest cryptocurrency exchanges located in San Francisco, California. It will come in 32 countries and currently serves over 10 million customers. Launched in 2012, it posseses an user friendly interface that makes Digital Currency Exchange a straightforward task for a non-technical person. It can be available for both iOS and Android. Unfortunately, Coinbase doesn't provide crypto currency mining for novices and is just an exchange.
Currently, it gives four coins, Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. It exchanges digital currency with US dollars, Euros and Great British Pounds. With minimum transfer fees, Coinbase has never experienced any security breach which makes it an ideal platform for digital currency exchange. As well as that, Coinbase also offers a fully-fledged advanced exchange called GDAX. It gives more complex features and different and better trading fees than Coinbase.
Bitstamp
Bitstamp is another platform that provides digital currency exchange. It is relatively user friendly and offers more complex features via TradeView. Bitstamp offers coins such as for example Bitcoin, Litecoin, Ethereum, Bitcoin Cash and ripple. It exchanges digital currency with US dollars and Euro. You can put into practice all the newest crypto currency trading techniques in this exchange.
It gives Flat deposits via bank transfers and supports debit/credit cards. Perhaps the only drawback it's possible to find in Bitstamp is slightly high fees and the truth that it suffered one security breach in 7 years of its operation. Nonetheless, it's one probably the most reliable exchanges. It will come in both iOS and android.
Gemini
Gemini is really a UK based company launched in 2015 by Winklevoss twins. It will come in few countries including U.S, Canada, Hong-Kong, Singapore and South Korea. Among the downsides to this platform is that it's not particularly user friendly. So, beginners are not recommended to make use of this platform.
It gives two coins and 1 FLAT currency Bitcoin Cash, Ehtereum and US Dollars. Gemini follows strict protocols as it pertains to security and by 2018, it has not encountered just one security breach thus rendering it one of the most secure and reliable digital currency platform. However, it is very important to possess digital currency investment strategies before you begin trading.
Digital Ticks
Digital ticks is a modern crypto exchange that aims to be always a game changer in this sector. They have implemented many of the latest techniques which makes it easy for anybody to get started with trading.
It has a unique feature called a Single Portfolio View that could enable the traders to see all of the holding positions on a unitary portfolio. It would be easy for traders to produce informed decisions regarding the cryptocurrency exchange employing this unique feature. In addition, it supports Bitcoin, Ethereum, Litecoin and Dashcoin.
Kraken
Kraken is among the oldest cryptocurreny exchange platform. Launched in 2011, kraken is the greatest exchange in terms of volume and liquidity for EUR trading pairs. It serves worldwide like the US.
Kraken offers a variety of coins including Bitcoin Cash, Ethereum, Monero, Augur, Litecoin and many more. In addition, it supports deposit/withdrawals via bank transfers and cryptocurrencies. Having a maybe not so friendly interface, in addition it is suffering from stability and performance issues but nevertheless, it's good platform for cryptocurrency exchanges.
Bitfinex
Bitfinex is the biggest cryptocurrency exchange platform. Launched in 2012, it posseses an user friendly interface and offers advanced amount of features such as for example margin trading, margin funding etc. It can be acquired for both iOS and android platforms. It gives BTC, BCH, ETH, LTC, IOTA, XMR and NEO.
Similar to the previous cryptocurrency exchanges, it supports withdrawals using US dollars and Euros via bank transfers. Bitfinex has suffered two security breaches, the first one was in May 2015, which led to a loss in $330,000. And the next one on August 2016 that led to a loss in worth $72 million.
EtherDelta
EtherDelta is really a decentralized exchange that directly supports peer to peer connection. It is different from the previously discussed cryptocurrency exchanging platform. Here, funds are held in an intelligent contract on a Ethereum network which you are solely responsible for depositing and withdrawing from. Currently, EtherDelta only supports Ehtereum based tokens.
EtherDelta has a rather confusing interface which makes it hard for users to perform cryptocurrency exchange operations. In one occasion, someone tried to get 750 Kyber for 0.007 ETH each but wound up buying 0.007 KNC at 750 ETH.
Conclusion
After looking at the many cryptocurrency exchanging platforms, we can safely say that Coinbase and Bitstamp stands out in terms of its good features like security, easy to use interface, multiple withdraws/transfer methods and many more.
I would not call them perfect but I would recommend that it's the safest bet you are able to make. Every cryptocurrency exchanging platform are unique in a unique way and has both advantages and disadvantages. We just have to select one that suits our needs. Hopefully this guide on basic crypto currency exchange and trading would give you a head begin in your journey of cryptocurrency trading.
