How to Pick A Cryptocurrency Exchange?
The Internet offers many different crypto platforms nowadays. Some are known worldwide; others are less popular but still worth our attention. Here we will talk about cryptocurrency exchange top ranking and the criteria to consider when picking one.
What to consider when choosing a cryptocurrency exchange:
- daily trade volume;
- security;
- the number of supported assets;
- the fee policy;
- interface and user experience;
- customer support;
Centralized crypto platforms are the best for trading and investment, for they operate officially and so, comply with all the requirements of regulators. Regarding the mentioned points, only centralized exchanges (CEX) demonstrate significant daily trade volume, offer many crypto assets, and even pairs with fiat currencies. Besides, CEX has to take good care of users’ funds protection and implement complex mechanisms for safety, for they are partially responsible for the funds clients entrust to them. The interface is always easier on centralized platforms rather than on decentralised; moreover, large exchanges such as Binance propose a divided interface functionality – for advanced trading and beginners.
Regarding the fee policy, once again, CEX is a preferable choice.
TOP 10 cryptocurrency exchanges
Here is the list of most often used crypto platforms with the biggest trade volume:
- Kraken
- Gemini
- Crypto.com
- KuCoin
- Coinbase
- WhiteBIT
- Binance
- OKEx
- eToro
- Huobi Global
You have probably heard about these platforms, for they are trendy on the Internet. They all have different functionality, and the fee policy varies, as well as the number of assets supported, etc. As for a beginner user, we recommend the WhiteBIT platform.
The reason is a huge number of trading pairs and the opportunity to create pairs with fiat currencies. Also, WhiteBIT’s interface is fairly easy to handle; moreover, you can adjust it according to your taste and requirements, removing all the complicated features and leaving only elementary tools for a novice trader.
Another important thing to mention is that on WhiteBIT, you can practice on a demo account, which means you should not invest your own money first; instead, you use demo tokens and trade with them. It will give you confidence and experience so that when you switch to real money trading, you will know how the functionality and tools work.
However, all the above-listed popular cryptocurrency exchanges also offer different tools and useful educational materials and charts, so you can try their functionality and compare which is better for you at this stage of your integration into the world of trading.