Cryptocurrency Exchange platforms are where buying, selling, and exchange of cryptocurrencies are carried out. The cryptocurrencies can be bought, sold, or exchanged for other cryptocurrencies, or for fiat currencies. Cryptocurrency exchanges can be challenging, because a lot of people, especially those that are new to the cryptocurrency world, find it difficult to find a reliable cryptocurrency exchange. Seeing how this has been difficult, the top 5 cryptocurrency exchanges have been given here.
Presently, there are over 120 cryptocurrency exchanges in the world. Choosing a reliable cryptocurrency exchange involves some in-depth research and understanding. There are some things to consider when choosing a good cryptocurrency exchange. Here are some things to look at when choosing a reliable cryptocurrency exchange.
- Security of the website: This is a very important factor to consider when choosing a cryptocurrency exchange. The exchange platforms that are most secure are usually the best.
- Transaction fees: Some exchange platforms have huge transaction fees for exchanging cryptocurrencies, while some have considerate transaction fees, I’m sure no one will be willing to go for exchange platforms with very high transaction fees.
- Available currencies for trading: This is also a very important factor to consider. The currency or cryptocurrency you have for exchange might not be on some platforms, so it is advisable to consider this well also.
After a deep research, I have compiled a list of the top 5 cryptocurrency exchanges, and they are discussed below.
- Poloniex is one of the top cryptocurrency exchanges you can use. There is a very large variety of cryptocurrencies available for trading on Poloniex. It is based in Delaware, USA. One factor that makes Poloniex one of the top cryptocurrency exchanges is the high security it has. There is Two Factor Authentication which allows the user to verify the identity in two different steps, making it difficult for penetration to the user’s account.
- It is one of the largest cryptocurrency trading platforms. Bitfinex was introduced in 2012, and it has its headquarters in Hong Kong. There are a lot of cryptocurrencies available for trading on Bitfinex. The most popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple, and Dash are available. Margin trading is available on Bitfinex. They also have high security measures and Mobile Apps for easy access on Android and iOS devices.
- Binance. is based in China. It is one of the most popular cryptocurrency exchanges in the world. Despite being in China, there are options available for different languages, which makes it easy to use for English speaking countries. You can trade with a lot of currencies and cryptocurrencies on Binance. Binance charges low transaction fees and processes transactions very fast.
- Kraken is also an important cryptocurrency exchange platform. It is very secure for conducting cryptocurrency exchanges. It was founded in 2011, and the headquarters is based in San Francisco, USA. One of the advantages of Kraken is the low transaction charges and the fast rate at which the transactions are carried out. Margin trading is as well carried out on Kraken.
- Bittrex is a cryptocurrency trading platform that has more than 100 cryptocurrencies for trading. It is based in Las Vegas, USA. One of the advantages is the high transaction speed offered on the platform. There is also high security, and the website is very stable.
This list is based on personal research on the top cryptocurrency exchanges. If you don’t find any of them easy to use, you can simply read more about it on their website. They provide good customer support. It is also advisable to deeply conduct research whenever you are trying to use any cryptocurrency exchange.