Comparison of the most popular crypto exchanges!

You can’t really rank crypto exchanges unless you rank on very specific metrics. Some are clearly winning in terms of transaction volume. Others accept more currencies, others make more trades, while others have a more user-friendly interface.

It comes down to what you appreciate more about a cryptocurrency exchange and what suits you better. However, it is possible to compare some of the most popular exchanges to get an idea of ​​what they offer.

Depending on what type of investments or trades you want to make, you should be able to choose something ideal for your situation.

The three types of cryptocurrency exchanges

Before comparing some of the world’s top crypto exchanges in terms of popularity, here’s a look at what types of exchanges you may come across:

Crypto stock brokers are very simple websites where you can buy cryptocurrency at a specific price set by that broker. Similar to forex brokers.

This type of website connects sellers and buyers. They offer real-time prices, solid and secure platforms for users to trade their crypto assets. Each trading platform has its own fees, which are usually a percentage of the transaction.

This is a different type of platform that connects sellers and buyers. With direct trading, however, it is not the stock market that determines the price, but the individual or the company. You can also use a direct trading platform to buy crypto directly from your bank account with fiat money.

coin base

This exchange is so old that it has become one of the most trusted trading platforms for Bitcoin as well as many other cryptocurrencies. The platform offers digital wallets to store, buy, sell and trade fiat to crypto and crypto to crypto.

The user-friendly interface and emphasis on key market developments make Coinbase one of the most popular platforms for investors large and small. Coinbase also offers insurance up to a certain amount depending on the crypto you own. But what really sets it apart from the rest is how easy it makes things for newbies.

What tarnishes its reputation somewhat is a lack of better customer support, limited support for some countries, and fewer payment methods. Transaction fees are okay too, but definitely not the lowest you can find.

octopus

Kraken has been around since 2011. Since then, it has become the largest platform when it comes to trading volume in euros. Although it is also available in the USA, Canada and even Japan, among many other European countries.

One of the things that makes Kraken stand out is the fact that it also allows for margin trading. This is something special that should appeal to experienced investors. It also offers the ability to buy crypto with crypto and most of the popular crypto coins are supported.

When it comes to user interface, Kraken is not for the average user. It’s a bit detail-heavy and quite complex. It’s also worth noting that unlike Coinbase, Kraken doesn’t offer a wallet for long-term storage. When it comes to payment options, credit cards and PayPal are a no-go. Kraken prefers SEPA, SWIFT and bank transfers (selected countries only).

This is not the best platform for those who invest small amounts or cannot use bank transfers. However, for large volume trades and experienced investors, it is one of the most reliable platforms.

binance

If you are looking for something unrelated to fiat trading, Binance is your best bet. This is a platform for serious crypto investors. While it may seem limiting due to the fact that it doesn’t offer support for fiat trading, Binance also has one of the largest crypto offerings on the market.

It is also one of the few platforms that is not shy about allowing trading of newly released cryptos. The interface is a bit more advanced but not as confusing as Kraken. Still, it falls far short of Coinbase’s user-friendly interface.

But what is even more exciting is the fact that Binance has no deposit and withdrawal fees. This can be great if you’re trying to trade crypto for crypto but don’t have that many assets. The only fee you need to worry about is the 0.1% transaction fee, which is already quite low compared to other exchanges.

However, you will need some crypto assets to get started. For many, Binance is the second stop on the way.

cryptomat

Kriptomat is one of the fastest growing cryptocurrency brokers in CEE, localizing and supporting languages ​​in 23 countries. The company was founded in 2018 with the aim of making cryptocurrency buying, trading and storing safe and accessible for everyone.

They now operate in more than 80 countries worldwide, serving users around the world looking to trade and store over 180 cryptocurrencies that they currently support. Kriptomat is a government regulated company and complies with all related European laws and regulations. The company is registered in Estonia, which introduced strict cryptocurrency regulations for crypto business in 2017. under the Anti-Money Laundering (AML) and Terrorist Financing (TFA) Act.

Therefore, the company can be trusted as transparent and trustworthy even despite its relatively short tenure. Kriptomat is also extremely user-friendly and ideal for customers who want to buy and sell crypto quickly and easily.

Save money by choosing the right exchange

There is no doubt that if you are already a crypto asset holder, Binance should be your go-to place for trading between crypto exchanges. But if you are just starting out and buying your first crypto assets, you need fiat trading. Coinbase does this very intuitively, although the fees can get pretty steep even for small volume trades.

Crypto Exchange’s article and permission to publish here provided by Olivia at Content Publishing UK. Originally written for Supply Chain Game Changer and published on July 27th, 2020.

Leave a Comment