Posted on January 1, 2018 at 12:00 PM
Introduction & Best Options
Visiting a Cryptocurrency Exchanges for the first time can be overwhelming.
Especially if you lack proper knowledge and introduction on how they work, or what to expect.
Still, without any doubt, choosing a Cryptocurrency Exchange for your transactions is extremely important. But also, tricky.
Because of this, we will give you a short introduction on how they work, and name you a couple of best Options.
Before we name some, lets mentioned different types of Wallets that can be found these days.
After you read through, feel free to pick the one that suits your needs the most.
Cryptocurrency Exchanges are Platforms on which Users can Purchase, Sell or Trade their Crypto Assets.
Since they are offering this type of Service, they are charging a Fee on transactions you create using their Platform.
The main difference that is setting them apart is whether they allow you to Purchase assets on their Platform using Fiat Money. Or you have to Purchase Cryptocurrency of your choice elsewhere, then send it to their Exchange.
Another key factor when choosing the Exchange can be number of AltCoins they have listed on their platform or fee charged for transactions.
In the previous years, few have made successful Exchange Platforms offering a different set of commodities for their Userbase. We’re going to name a few, as well as the reasons why so many people are choosing precisely their Service.
Fiat Trade: No. Altcoins: >140 and counting. Fees: 0.1%
The fastest growing Crypto Exchange out there. It has an immense selection of altcoins, which gets regularly updated. Standard transaction fees are very low at 0.1%, with further discounts too. Binance also has a beautiful and functional Mobile App and Web Interface, available in more than 10 Languages.
Its only downside is that you cannot trade fiat currencies and that it sometimes restricts new-user registrations.
Fiat Trade: No. Altcoins: >Average. Fees:Maker 0.15%, Taker 0.25%
It used to be the largest cryptocurrency exchange. Today, it is still a solid and reputable choice, with its highlight being to trade on margin. It also has an independent, high-volume, Ethereum and BTC market.
However, Poloniex offers only a handful of coins to be traded on margin, and its UI is fairly mediocre.
Fiat Trade: No. Altcoins: 50 Fees:0.1%
A Korean Cryptocurrency Exchange, who gives half of its transactions fees to KuCoin Shares holders (its own crypto coin). Truth be told, it doesn’t bring anything new to the table at all, but what it does, it does great! Exceptionally simple and secure trading and account creation, with low feels. Very beginner-friendly.
Unfortunately, it doesn’t list many alt-coins, which could be a plus for beginners. Brings nothing game-changing to the table.