Cryptocurrency has become so firmly established in our world that it is simply impossible not to talk about it. Today there are more than 315 crypto exchanges that allow users of the digital world to join them and start understanding cryptocurrency. Some of them went bankrupt due to the terrible crypto winter that was in 2018, and some skyrocketed because investors and traders stayed on them even in the most severe times. Exchanges have different trading conditions, so there is a significant difference between them. So, for example, we can find out what crypto exchange has the lowest fees. And also, which crypto exchanges allow you to really get rich. This and more can be found below.
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Best Exchangers For 2022
There are the best of the best below. These exchanges are trusted by a huge number of people, they have been on them for more than a year, so there really is something to think about in order to start developing yourself in the crypto world.
- Binance. This is very popular and the largest exchange (if we keep in mind the volume of trading). Binance was launched in 2017. The most important advantage of this platform is more than 550 trading pairs, which consist of cryptocurrencies and tokens. There are, of course, illiquid crypto assets, but this does not affect the powerful reputation of the exchange. Digital assets are so diverse that they provide an opportunity to develop both themselves and blockchain projects. Naturally, on Binance, all altcoins and tokens are directly dependent on the Bitcoin exchange rate. For example, if this currency rises or falls, then the whole market follows it. At the same moment, with growth or decline, investors and traders begin their vigorous activity - and this is where you can hit the jackpot and snatch a good piece of bargaining. The only thing that repels the crypto exchange is that it does not have its own license. Everything else is great benefits and a clear plan. The amount of trading commissions depends on the volume of trades completed during the month, as well as on the type of order placed. For those whose monthly turnover is less than 50 BTC, the fee is 0.1%. If the trader's turnover is more than 50 BTC per month, the commission for the maker is reduced to 0.09%. The minimum commission is 0.02% for the maker and 0.03% for taker;
- BitMEX. This is another cool big crypto platform that was founded 3 years earlier than the first one. There are over 3 billion dollars of trades here. There are not so many trading pairs here, only 9, but it is on this exchange that ONLY crypto assets are present. The exchange is not regulated in any way and does not have any public reporting. On the one hand, this is very convenient, because no one will know how much money is in your account. On the other hand, this approach looks suspicious. For BTCUSD and ETHUSD perpetual contracts, makers receive a 0.025% rebate and takers pay a 0.075% commission. On other derivatives, makers receive a 0.05% rebate and takers pay a 0.25% commission;
- PrimeXBT. A good platform that provides users with the opportunity to trade the top cryptocurrencies, stock indices, commodities and currency pairs. There are a total of 39 trading pairs, which consist of various assets. Also, the direct exchange function is disabled on this exchange, so many traders will lose the possibility of hedging. This platform also does not have a license, but this factor does not prevent PrimeXBT from being in the TOP along with the largest exchanges. The commissions and fees here are as follows: cryptocurrency pairs - 0.05% for makers and takers; indices and commodities - 0.01; Forex currency pairs - 0.001%.
There is no crypto exchange that is super perfect, because each has its own drawbacks. But, it is worth believing that there are much more pluses here. It is worth paying attention to the rating, reviews and effectiveness of the crypto platform, and not to the presence of a license.
Pay Attention to It
The most important thing is to decide what digital assets you want to work with, because the further choice of a crypto exchange will depend on this. ETH, ETC, XRP are the most popular coins and almost every known exchange trades on them. The young platform will only trade in one or two currencies, there are Monero exchange or XRP exchange, foe example. The choice is already obvious, in whose favor you need to make your choice.
Here are the most important aspects to pay attention to:
- User reviews and comments. It is advisable to find those people who have already worked on the exchanges and can highlight what is good and what is bad. In other words, it is important to find objective feedback from real people;
- The cost of the crypto you are interested in on crypto exchanges, because the price is always different. The cost of the exchange is expressed in dollars and it may differ slightly on different exchanges;
- The commission fee gives a lot, since you will spend funds for the sale and purchase operation and for the withdrawal of the crypt from the site;
- For many users, the deposit and withdrawal threshold is very important. They want this threshold to be as low as possible;
- Many crypto exchanges require identity verification from new users. In principle, this is the right decision if the exchange is solid and has declared itself. But not all users are ready to pass verification. So, if you want to work anonymously, carefully study the client agreement because it contains some important nuances;
- Many users want the interface to be in many languages. The lack of one language is easily solved because you can use a translator. But if 3 or more languages are missing, then this will already be a costly moment for the user.
These recommendations apply to any of the users.
Info for Newcomers
If you have never been in the subject and do not know how the crypto world works, then the best base exchanges are Binance or Okex. The first has a very comfortable interface; it is great for medium-term trading. Here you can find answers to all questions you’re interested in. The second one is a great place to practice trades, as it allows a test mode (demo version). The second option is even more profitable because the demo version will allow you to join the crypto world; you will manage the currency yourself and change it. Then, you will need to manage real money and exchange it for a crypt, observe transactions and participate in them.
Choosing a crypto exchange is not difficult. The most expensive thing is further work with it, because the digital world does not stand still, it moves up, each time new interesting moments appear. Carefully study all the suggestions and recommendations, watch what news appears about the digital world.