Top 10 Cryptocurrency Exchanges

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If you are reading this article, then it is more than likely that the cryptocurrency market has piqued your interest. As a budding billion-dollar industry, the cryptocurrency space has started to capture the attention of the wider public and institutions alike. As a result, many investors are looking for the best cryptocurrency exchange.

How Does One Start Trading On A Best Cryptocurrency Exchange?
Blockchain is not exactly intuitive and not until recent years have the infrastructure for this young industry been developed. In the early days of the cryptocurrency market, there were way fewer crypto trading platforms. Moreover, there were not a lot of reliable platforms to choose from. It was a murky and uncertain environment. Both buyers and sellers have to trust that the other party will act in accordance with the set terms and conditions of a deal.

A party acting maliciously faces little to no recourse. Transactions cannot be reversed and a legal case was hard to establish. While this was the scenario for transactions across borders, regionally, people meet up informally to exchange for cryptocurrency goods and services. This too required a high degree of trust among parties.

Currently, the cryptocurrency industry has been making huge progress. Gone were the days where buying and selling cryptocurrency resemble shady back-alley deals. There are now digital currency exchanges which offer more than the typical specialized bitcoin trading platform. Thus, making cryptocurrency more accessible to the everyday laymen.

Out of these cryptocurrency trading platforms, some have distinguished themselves as top players in their field. In this article, we will go through some considerations when choosing a cryptocurrency exchange as well as a list of crypto trading platforms.

Best Cryptocurrency Exchange Feature: Security
Back around 2011, the unthinkable happened. Mt Gox, then the largest bitcoin trading platform was hacked. The ensuing panic created in its wake left many investors with fear and disappointment as their bitcoin holding evaporated overnight. In addition, there was speculation that the bear market that followed shortly after was a consequence of the hack as investors lose confidence. Despite the lawsuits and demands for bitcoin from victims of the exchange, it is unclear how they will be compensated for their loss.

From this infamous case, it is clear that safety is of the utmost importance when looking at a cryptocurrency trading platform. As cryptocurrency is largely operating in a grey area, there is no government backing or bailout. Users thus, have to select their exchange carefully if they wish to have their tokens or funds kept on a cryptocurrency trading platform. Since it would be highly improbable that an exchange would allow others to peak into their backend or expect the average person to gauge the reliability through studying codes, a user will have to use other factors to serve as criterions.

Why A Best Cryptocurrency Exchange’s Security Track Record Is So Important
An exchange’s past history with hacks is a good start. It is a measure of the likely outcome of such an event. The exchange’s attitude towards the incident, responsiveness to queries, success in preventing loss of funds and compensation are just a few of the things that a user can consider when evaluating the safety of an exchange. On a positive note, the cryptocurrency sector has identified best security practices. Cryptocurrencies are now more commonly stored in cold wallets rather than hot wallets that are accessible online. In the event of a successful hack, only a portion of the total funds is lost through the hot wallet. Despite improved security measures across the cryptocurrency trading platform space, hacks still occur such as the more recent incident with a Japanese exchange which resulted in losses.

Thus, users have to look at an exchange’s past performance and only select cryptocurrency trading platforms that the user deems reputable. If unsure, a user can choose to keep cryptocurrency funds in a cold wallet that they owned.

Best Cryptocurrency Exchange: User Interface
With the steep learning curve of cryptocurrencies, a friendly user interface can become a boon in taking the first few steps into the cryptocurrency space. Cryptocurrency trading platforms with a user interface built for user experience in mind will allow newcomers to quickly get accustomed to the layout of features.

Functions such as one-click trading will speed up the process and create a hassle-free experience. As each cryptocurrency trading platform have its own points of differentiation, it is difficult to determine what is the best cryptocurrency trading platform. However, there are some features that have become standards for cryptocurrency trading platforms within the market.

Cryptocurrency Exchange Best Practices: What To Identify
Firstly, the buy and sell function should be easy to use and understand. This extends to the trading rules around trading fees, withdrawals and setting up different types of orders. Besides buying and selling, some exchanges allow users to set up trailing stop losses and stop-limit orders.

Secondly, web navigation should be streamlined. With the depth of some websites, it can be daunting to find the relevant page or information on a cryptocurrency trading platform. Poorly organized websites with numerous layers and pages make it more complicated for new users.

Thirdly, is the mobile optimization of the exchange on the web. If a mobile application for the exchange has not been developed, then it is advantageous to have the cryptocurrency trading platform optimized for mobile devices. Being mobile-optimized will create greater convenience as users tend to have smartphones in this day and age.

Lastly, the cryptocurrency trading platform should be responsive toward inquiries. This will reduce frustration, especially when unexpected incidents happen.

Best Cryptocurrency Exchange: Trading Platform Markets
With each cryptocurrency exchange, there exist different markets for a particular token or coin. This is especially important as different individuals are trading with different goals in mind. Some might be trading for more bitcoin while others trade for more USDT. Different types of markets available on an exchange will determine the type of value that a cryptocurrency can be traded for.

For example, if a user has XRP and wishes to trade for USDT, then that individual would have to trade XRP on the USDT market under the XRP/USDT pair. If an exchange does not have the market a user wishes to trade on, then perhaps it is best to look for an alternative cryptocurrency trading platform.

Transaction Fees
This is important to note as transaction fees are incurred when tokens are sent to and from a cryptocurrency trading exchange. If the token or coin is not listed on the required market, then withdrawal fees are incurred meaninglessly.

Another point to note is the liquidity within each trading market. For example, exchange (A) might have higher liquidity for the market of XRP/USDT than exchange (B). Higher liquidity is especially useful for selling and buying larger quantities of tokens without a large spread of price to fill the buy or sell order.

The common markets than can be found on cryptocurrency trading exchanges, in general, are the BTC, ETH, USDT and USD markets. Therefore, it is wise to consider checking out the markets available on a cryptocurrency trading platform and the trading volume before deciding where to transfer, buy or sell cryptocurrencies.

Luckily, this information is usually readily available on the exchange itself and on other third-party websites. Thus, users need not sign up for the exchange and commit before being allowed to look at the markets and their volume.

List Of The Best Cryptocurrency Exchange
Let’s move on to a list of cryptocurrency trading platforms to ponder over. Each user will have a different opinion on what constitutes the best cryptocurrency trading platform. Hence, each of the listed exchanges in this article will have a different point of differentiation that sets them apart from others.

We shall start with crypto-to-crypto exchanges before moving on to fiat-to-crypto exchanges.

1. Poloniex
A player in the market since the early days of 2014, Poloniex has certainly proved its position in the industry. Since then, the cryptocurrency trading platform has expended its cryptocurrency offerings beyond major coins such as bitcoin and Ethereum. Users can now trade from over 60 different altcoins. Thereby providing access to a greater range of cryptocurrencies under a single exchange. In addition, the exchange has added features such as margin trading and smart APIs to cater to a wider range of user types.

2. Bitfinix
This cryptocurrency trading platform has trading features beyond what many other cryptocurrency trading platforms offer. It offers trailing stop losses, kill or fill, one cancel other, among other trading functionality. This is highly advantageous for users who are looking to make more frequency of trades. These features add a certain level of automation to the standard buy and sell orders. In addition, the exchange has allowed for margin trading and margin funding.

3. Binance
Binance is a highly reputable crypto trading platform. It allows users to trade within different markets ranging from bitcoin and Ethereum to various stable coin markets such as USDT. The cryptocurrency trading platform has implemented more complex buying and selling orders to suit the needs of different traders. Moreover, Binance does periodically upgrade their platform and services.

4. Bittrex
This cryptocurrency trading exchange is also one with a longer history of operation making it a veteran in the market. It offers the trading option most reputable exchanges do and has started launching its own IEO on the platform. While its fees are not the cheapest, it is still at the lower range than some of the cryptocurrency exchange platform on the market.

5. Kucoin
Aesthetically the most appealing, this cryptocurrency exchange platform brings a new trading experience with its sleek design and interface. It has the trading options that most competitors have in the market. In addition, safety built into its trading user interface. To add on to user security, Kucoin uses 2FA authentication that can be enabled before access is granted. A more pleasantly designed exchange, it will likely provide a unique user experience.

6. Huobi Pro
As a cryptocurrency trading platform, it offers numerous tokens to trade and markets to trade from. Another big exchange with a long history of operation, it has served users well and withstood the test of time. In recent times, the cryptocurrency trading platform has implemented its own mobile application to keep up with consumer behavior. In addition, the exchange is very customer-centric with options such as 24/7 customer support.

7. BitMex
A leverage-focused cryptocurrency trading platform, BitMex allows for up to 100 times leverage on bitcoin contracts. In addition, BitMex has thus far suffered no successful hacking or intrusions. Coupled with a highly liquid market, BitMex is a cryptocurrency trading platform that tends to appeal to users who likely trade at a higher frequency and volume.

8. Changelly
Operating since 2015, Changelly is a unique cryptocurrency trading platform where the platform acts as an intermediary between cryptocurrency exchanges and users. It has a mobile application for users and features comprehensive 24/7 live support, making the cryptocurrency platform friendly to newcomers. As a non-custodian instant cryptocurrency exchange, it does present itself as an alternative to users who are looking at the cryptocurrency market.

Fiat to Crypto Exchanges

9. Coinbase
Coinbase is a popular exchange with a track record of being reliable. As a crypto-to-fiat exchange, Coinbase has a strict token listing process to provide users with the best experience possible. This stringent vetting process helps to eliminate cryptocurrency that is of lower quality and reduces user’s exposure to them. As an entry to buy bitcoin and other major cryptocurrencies such as Ethereum. Coinbase has become a familiar name in the cryptocurrency space. While having a limited number of tokens listed on the exchange and higher fees, the platform has a long history of operation given the relative age of the cryptocurrency market in general. As such, Coinbase is worth a spot as part of the consideration set for the best cryptocurrency trading platform.

10. Coinhako
Serving the South East Asia region, Coinhako is another fiat-to-crypto exchange to consider if the user is from the specified geographic region. The exchange is a gateway to cryptocurrencies as it allows an individual to purchase cryptocurrency using fiat. While having more tokens listed on the exchange, its fees are still higher than some exchanges. The exchange stands out in its offers and promotions which can help save fees for users. As an exchange, it is certainly intuitive with its simplistic and practical design. Coupled with updates on token listings and trading promotions, this is certainly a cryptocurrency trading platform to look out for. It can be used as a benchmark to gauge relevant cryptocurrency trading platforms.

(c) https://robots.net/fintech/best-cryptocurrency-exchanges/

 

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Probit cryptocurrency exchange review​

About this time of day!

Brief overview

In the course of reading this article, we will analyze the process of registering and working with the service Probit.com. This cryptocurrency exchange was founded by South Korean specialists and appeared on the market in 2018. The creators of the platform try to focus on the opinion and desire of users when adding new altcoins to trading and arrange a kind of "vote" on this account. The site often organizes trading competitions and various motivational contests to retain and attract customers. The exchange has a multilingual interface, and has two divisions created to work in the global and domestic South Korean markets.

Registration process

Let's move on to registering for the service, and learn more about its specifics and features.

To register, You will need an up-to-date email address and an active mobile phone number. after preparing, you can proceed with the actions

1. In the Upper right part of the screen, click on the "register" button and go to the second item


2. Fill in the e-mail fields, come up with a password (please note that the service requires special characters in the password), read the user agreement and the service rules, and click on the “register" button.

3. Check your email address - you received an email from the service with the authentication code, enter it in the window that appears and click "confirm”

4. Go to the login page

5. Enter the data specified during registration and click on "login”

6. When you first log in to your merchant profile, the service offers us to choose a convenient language and time zone to display up-to-date data in a format that is clear and convenient for you. Select and go to the next item

7. Now the service offers you to protect your account, either by using two-factor authentication via mobile phone, or by OTP authentication. You can skip this step, but we advise you to take care of the security of your own data and funds in advance, and do not neglect additional security measures. If you decide to authenticate, choose a convenient method and follow it. We will choose two-factor authentication using a mobile phone, and click “Install”.

8. In the window that appears, enter the current phone number (carefully read the service's tips - they won't teach you anything bad), and proceed to the next step by clicking "next”

9. Enter the code from the SMS and go “next”

10. For security reasons, the service asks You to confirm your actions using the previously specified email address - click "confirm” and wait for the email

11. Enter the authentication code from the email in the window that opens, and “send”

12. The Service has confirmed the addition of a new number, “finish” the process, and proceed to get acquainted with the service.

Congratulations, Your account is registered and protected with two-factor authentication, now let's see how it works.

Overview of the interface and functions

Now we are in the window “My page” is Your personal account, where you can make settings, change input data, monitor the level of your reputation on the exchange, monitor security, and much more.

Let's focus on the site's controls, where we can see the main pool of working tabs/tools on top:

Let's take a closer look at the functionality of each of them:

1. Ad platform logo

it takes you to the start page of the service, where you can get acquainted with the main functions, ad platforms, and the overall device of the platform.

2. "Exchange”

opens for us various financial instruments that allow you to follow market trends, and manage tools for trading and exchanging cryptocurrencies.

3. The tab "Exclusive”

shows us the current exchange exclusives.

4. IEO

Initial exchange offering - a variant of an ICO held under the control of a cryptocurrency exchange service. Here you can see current offers in this area, and make the necessary purchase operations.

5. “Trading competition”

here you can monitor active and past events, view Analytics and statistics.

6. “The stack”

here you can follow and take an active part in active Stack events.

7. "Auto-Hold”

make deposits and get an annual profit, evaluate current offers and monitor the market!

8 "Events”

information about various events organized by the platform and its partners.

Settings and personal account

Let's go to the functional tabs of your merchant profile:

1. “Wallet”

allows you to control your balance, expenses, transfers, deposits, and other financial functions on the site.

2. “Order form”

monitoring of order history, open orders, and trading.

3. "My Page”

here you can see and control the level of the exchange member, verification, and make settings for your personal account.

Let's go back to “My Page” and see what actions You can perform on it. Let's analyze each block:

1. The First block on the left is a block with your personal information, Your email address, last login date, IP address, and linked phone number. Here you can change your password if necessary.

2. On the Right, we have a block with the language and time zone, here you can adjust the data specified during account registration

3. Under these blocks there is a section dedicated To verification on the service, which we will discuss later

4. Under the above blocks, there is a section where you can see an information block about the current level of the participant, and the conditions for raising it. Probit has 12 levels in total, and various platform bonuses depend on the level - Commission reductions, increased interest in the referral system, mining rewards, and many other bonuses. You can level up by “leveling up" your account on “Stacking”

5. Below on the left - "Two-factor authentication" - configure OTP and u2f electronic keys here

6. To the Right of the block from item 4 is a blog with the site's API

7. At the very bottom there are two blocks “Device management” and "session log" - their names speak for themselves, here You can see on which devices sessions are active to control the use of the account exclusively for personal purposes, and the history of actions performed with IP addresses.

Verification and commissions

On Probit.com at the time of writing, there are only two levels of verification. First , you get a confirmation of your email address, and you can fully work with it. Second - becomes available after passing a simple identification procedure. You will need to fill in your personal data and attach a photo of your passport, residence permit, and selfie with the document to the application form . the service will not require any additional documents from You. Here, for successful and full-fledged work, you can forget about Bank statements, problems with confirming the registration address, and other " quirks” that neighboring exchanges request when passing the identity verification procedure.

As we said above in the article, when reviewing the functions of the personal account on the service, 12 levels of trading commissions are presented. Commissions for entering / withdrawing currencies to the exchange are fixed, and we will not talk about them, because they tend to change from time to time

The exchange has a separate section where You can get acquainted with the conditions for "earning" new levels, and see their advantages. You will start your trading activity at the "Standard" level.

even if you are on it, the Commission level will not exceed 0.2%, which is an excellent indicator that can compete with other sites. If you use the "privileges" systems, meet the conditions and get new levels, Your trading Commission can drop to 0.05% - an incredible figure for crypto trading. In the screenshot below, you can get acquainted with all the current levels at the time of writing and clearly see all the figures of rewards for receiving them

Conclusion

At the end of the review, I would like to note that despite the "crooked" localization, it is not particularly popular in the territory? Probit.com it is an excellent tool for crypto trading, it is suitable for every novice and professional trader due to its advanced functionality, an abundance of trading opportunities and a very loyal policy towards users.

 

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Differences between a Bitcoin exchange and a regular exchange
A “normal " exchange – for example, the Moscow Exchange, MICEX has a fairly high entry threshold – private individuals are not allowed to enter. Only brokers can trade on the stock exchange – and you must either carry money to the broker who will trade for you, or work through the kitchen-as if on behalf of the broker, but paying him a percentage.
There are no such cruel requirements on cryptocurrency exchanges, any Internet user can register. Curiously, you don't even need to have a bitcoin wallet to start with – exchanges trade currency pairs such as the ruble, euro, and dollar. You can top up your account with a card in rubles, for example, then buy bitcoins on the exchange and sell them at a favorable rate for euros, for example. But let's start in order:

Choosing a Bitcoin Exchange
I will tell you about two exchanges, each of which can suit you at any time: Exmo and Poloniex

EXMO Bitcoin Exchange
Advantages:

• The interface is completely in Russian
• Easily add funds to your account and withdraw money
• Low commission
• Simple interface

Disadvantages:

• Trading volume – in general, the amount of funds on the exchange is not as large as that of foreign exchanges, as a result, transactions are made a little less frequently
• No leverage

However, I'm not sure that leverage is a disadvantage for you – trading with leverage means you risk your entire deposit, while trading without it means you rely only on your own strength, take less risks and gain more experience. The trading volume affects the number of trades per time period, but this is not important for hand trading (this may affect high-frequency trading robots, but they are usually used on other platforms).
Here are the exchange's indicators for 19.12.2016 – 473 bitcoins were sold and bought during the day, which, at the current exchange rate (787.93 – the exchange rate on 19.12.2016), is equivalent to 372 690.89 dollars that passed through the exchange. What does this tell you? That if you put up a currency for purchase or sale, 15,831 people are already waiting for you to buy or sell it and what else is required from the exchange?

Poloniex Bitcoin Exchange
Advantages:

• High trading volume
• Many currency pairs and cryptocurrencies – almost all new products are supported
• There is leverage
• It is possible to “borrow " money (you give the amount in the implementation, indicating what percentage you want to get, and the person trades)

Disadvantages:

• English-language interface
• A complex system (some aspects are difficult to understand, although it is worth investigating, this will increase the revenue opportunities)

This is what the exchange's working window looks like – if you speak good English, welcome, the exchange is very interesting.

When choosing between the two exchanges, I would advise you to start with Exmo, and then, after everything becomes simple and clear, switch to Poloniex. This is a tip from the category of first learn to swim in the pool, and then swim away into the sea, but not vice versa.

Trading bitcoins on an exchange
Trading anything anywhere comes down to one thing – you need to buy cheaper and sell more expensive. There is no free money on exchanges, so if you want to make money, you will have to invest.
What exactly to invest is up to you. You can invest bitcoins earned on taps and HYIPs (read the article How to earn bitcoins), you can make rubles or dollars directly through a bank card, through Qiwi, from a mobile phone account, through a bank – all paths are open. Personally, I would advise you to invest bitcoins without spending money on transfer fees – this way you can start playing on the exchange completely without investment (for more information on how to receive bitcoins directly to the exchange's account, see the third method in the article Three ways to create a bitcoin wallet).
Once you have funds in your exchange account, you are free to sell them (sell) or buy something with them (buy). However, these situations are fundamentally the same – you give away one currency to get another currency. The basic strategy is simple – if you believe that the exchange rate of a particular currency will grow, you buy this currency, wait until it grows, then sell it. If you think that the rate of some currency will fall, it makes sense to wait for a deep fall, buy at a low rate and wait until it rises.
See how the bitcoin exchange rate has changed over the entire time of its existence:

On such fluctuations, people make fortunes, but these are people with experience, iron nerves and a good financial base. If you are not sure whether you will be interested in playing on the stock exchange or not, whether you have the ability to do so, throw in the amount that you do not mind ($ 10), but not very large, and try to increase it by at least 30%.