The best exchanges for trading cryptocurrencies
The gold rush remembered from textbooks and historical accounts has once again engulfed the entire public, which is eager to earn money and move forward on the wave of trends.
However, while people once traveled to distant lands in search of precious gold, now everyone is buying up cryptocurrencies en masse, trying to profit from the enormous rise in the exchange rate of new currencies.
Just think: whether a housewife or an IT specialist, a trader or a businessman, or even a working person, everyone has heard about the record growth of Bitcoin, Ethereum, and other new currencies on every news channel.
Bloggers, media outlets, information and educational sites are all discussing the new topic of cryptocurrencies, and the entire internet is simply overflowing with advertisements offering to invest in this or that project.
However, when a potential investor decides to invest in a new, unfamiliar field, the most important question arises: how to participate in the trading, where are the exchanges located, and how can they become involved?
In this article, we'll briefly introduce the key exchanges that allow trading and exchanging cryptocurrencies.
The Largest Exchange Platforms for Cryptocurrency Trading:
When it comes to cryptocurrency, it's safe to say that progress has completely outpaced the bureaucratic and cumbersome financial machine that has operated effectively for generations.
Today, most countries face the dilemma of regulating and recognizing cryptocurrencies. Interestingly, despite the fact that the global community has yet to develop a unified position on cryptocurrency regulation, the sector itself has developed the necessary infrastructure, exchanges, and exchangers.
Since there are a huge number of resources offering cryptocurrency trading opportunities, and most of them are simply scams, we decided to present you with a selection of the top exchange platforms created specifically for cryptocurrency trading.
1. EXMO
EXMO is one of the largest exchanges in the post-Soviet space, supported by the Russian-speaking segment.
It's worth noting that the exchange itself was founded in 2013 on the offshore islands of the United Kingdom, although many confirmed sources indicate the company has Ukrainian roots.
A notable feature of EXMO is the ability to fund your account from more than ten sources, such as WebMoney, Qiwi, bank cards, and more. Funds can be withdrawn both in cryptocurrency and to any other payment system.
The exchange also has a built-in automatic exchanger, allowing you to exchange and purchase the desired cryptocurrency in seconds.
EXMO, like any other exchange, charges a commission for completed transactions. The exchange charges a 0.2 percent commission regardless of the transaction volume, and also charges a small withdrawal fee depending on the payment system or cryptocurrency used.
Among its shortcomings, the very weak web platform is not designed for in-depth analysis or intraday trading. Account verification is also required for full trading.
2. Poloniex.
Poloniex is the world's largest exchange, boasting the highest Bitcoin trading volume. It's worth noting that Poloniex is an American project, and the exchange headquarters are registered in Wilmington, Delaware, USA.
The exchange offers a wide range of opportunities for crypto traders, with approximately 365 crypto pairs traded.
Among Poloniex's advantages, it's worth noting its very low commission, which doesn't exceed 0.25 percent per transaction, as well as its more advanced online trading platform compared to EXMO.
Among its advantages is the lack of verification requirements, but at the same time, there are withdrawal restrictions for unverified participants. As for the disadvantages, deposits and withdrawals are only possible using cryptocurrency.
3. Bitfinex.
Bitfinex, like the previous two exchanges described, was registered in 2013; however, Bitfinex was fully registered in Hong Kong.
Bitfinex offers both English and Russian language versions of its website. Furthermore, its trading platform is significantly more advanced than the previous two exchanges in terms of technical functionality (indicators, graphical tools, a variety of chart types and time frames, and more).
You can use the exchange's trading advantages without verification, but if you plan to withdraw funds in dollars or conduct any transactions with them, verification is mandatory.
Among the exchange's advantages is the ability to offer margin trading. It's worth noting that margin trading is not performed using a broker's leverage, but by borrowing funds from other investors.
Therefore, you can earn money on the exchange by providing margin for traders' positions, thereby lending money.
Finally, it's worth noting that all currently existing cryptocurrency exchanges are practically unregulated by governments and regulators.
Therefore, it's important to understand that no investor is immune from the possibility that an exchange operator could shut down its operations at any time, taking the funds of its traders and investors and disappearing forever. Such cases have been recorded numerous times.
At the same time, you can protect yourself and take advantage of all the benefits of speculative trading through forex brokers - http://time-forex.com/vsebrokery , which, unlike similar exchanges, are more regulated and under the control of financial institutions.
