Cryptocurrency exchanges: the best quotes and reliable platforms

Earnings on the cryptocurrency exchange are a relatively new phenomenon. However, structurally, cryptocurrency exchanges are very similar to the usual commodity and currency exchanges. The fundamental difference lies only in the subject of the auction. Which cryptocurrency exchange is better and for whom, how is cryptocurrency trading conducted, and where to start trading?

What is a cryptocurrency exchange?

A cryptocurrency exchange is an online platform where one type of electronic money can be exchanged for another, or for fiat money, that is, real currency - dollars, euros, and others.
The volatility of many cryptocurrencies is extremely high. If the profitability of shares is calculated in tens of percent, then the growth in the rate of bitcoin is in the thousands. That is why trading on cryptocurrency exchanges opens up dizzying opportunities for enrichment - but only with the right approach. Cryptocurrency trading requires a professional approach. in addition to operations, the profitability of which is unlimited, newcomers to this field will face various difficulties, including serious risks.

Ratings of cryptocurrency exchanges: leaders and outsiders

Today, there are hundreds of cryptocurrency exchanges in the world. They are regularly combined into ratings that will help you form an opinion about the reliability of the exchange and its position in the world of cryptocurrency trading.

1. By overall rating :

1. BINANCE. Relatively young exchange headquartered in Hong Kong, founded in 2017. One of the reasons for the popularity of Binance among users is the low deposit and withdrawal fees. The exchange website has a Russian version. The exchange trades between cryptocurrency pairs.

2. BITFINEX. The exchange opened in 2012 and supports Russian, English, and Chinese. It features a large selection of cryptocurrency pairs. It is possible to trade through mobile applications.

3. KRAKEN. Large online exchange headquartered in San Francisco. The platform supports two languages: Japanese and English, besides, the interface of this exchange is not the easiest. Nevertheless, traders from Russia actively use it. Here you can trade fiat and cryptocurrencies.

4. POLONIEX. The most famous and largest cryptocurrency exchange in the world was launched in 2014. The site supports only English, the interface is simple, and it will not be difficult to understand. The site has a small commission for transactions - from 0.1%. This exchange does not work with fiat currencies.

5. EXMO. The exchange opened in 2013. 17 trading pairs are presented here, and you can trade both cryptocurrencies and fiat money.

2. By trading volume (in bitcoins).

Volume is an indicator of the popularity and influence of the exchange, and also - indirectly - the number of players who trust it. The rating of cryptocurrency exchanges by daily volume looks like this:

1. BINANCE. In less than a year, the exchange entered the top 5 in terms of trading volume - 270,124.

2. HITBTC. British cryptocurrency exchange launched in 2015. It features high security and low commissions. Volume - 240 473.

3. LIVECOIN. Exchange with a user-friendly interface. Demanded by traders from Russia. Known for high safety standards. Funds can be withdrawn both in dollars and in rubles. Volume - 6700.

4. YOBIT. A popular Russian exchange with a large selection of additional options and a huge number of currency pairs. Here you can trade even the rarest cryptocurrencies. Volume - 3070.

5. EXMO. Among the presented exchanges, it has the smallest trading volume - 2370.

3. By reliability

Since exchanges deal with finance, security is very important. Moreover, no one can guarantee absolute security. But some exchanges have a serious multi-level protection system, so it is difficult to hack an account on them - almost impossible. The most reliable exchanges include:

1. BINANCE.

2.BITFLIP.CC. The Russian exchange, which supports domestic payment systems, has a high level of protection.

3. EXMO. According to experts, this exchange makes very high demands on the security of transactions.

4. YOBIT.
5. HITBTC.

4. By the presence of a Russian-language site

Of course, it is more convenient for most Russian traders to work with a Russified site. The following exchanges have the most convenient sites in their native language and Russian-language support:

1.BINANCE.
2BITFLIP.CC.
3. YOBIT.
4. EXMO.
5. LIVECOIN.

5. Convenience for beginners

If you are a novice trader, look for cryptocurrency exchange with a simple and intuitive interface and loyal trading conditions. These requirements are met by:

1. BINANCE.
2.BITFLIP.CC.
3. HITBTC.
4. YOBIT.
5. EXMO.

6. According to traders.

Whatever the official ratings, professional traders always have “favorites”. This is the list of cryptocurrency exchanges that received the most flattering reviews from the users themselves:

1. BINANCE.
2. BITFLIP.CC.
3. HITBTC.
4. YOBIT.
5. EXMO.

In addition to the leader of the BINANCE ratings, the HITBTC, BITFLIP.CC, YOBIT, and EXMO exchanges also deserve trust and attention.

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How to choose an exchange for trading cryptocurrencies?

The exchanges listed above are only a small part of the total number of operating sites. It can be difficult for a person without experience to navigate the cryptocurrency exchanges and choose the right one. To make an informed choice, you should pay attention to the following parameters:

Daily trading volume . The high turnover of the exchange is a sign of its popularity. The higher the trading volume, the greater the chances of earning by trading here.

Deposit and withdrawal of funds. Find out in advance what conditions, how quickly and in what currency you can deposit and withdraw funds, and with which payment systems this exchange works.

Cryptocurrency pairs. A wide choice of pairs means ample opportunities for earning. Although it is more important for novice traders to have the most popular and liquid cryptocurrencies.

Verification. Do I need to verify my identity to trade on this exchange or can you work anonymously? Are there any daily turnover limits for non-verified users?

Top 7 Cryptocurrency Trading Rules

Don't play the latest. Invest only those funds that you are ready to lose without any problems with the budget. Playing on the stock exchange, including cryptocurrency, is not a bank deposit. There is always some risk involved, especially if you are a beginner trader. Be mentally prepared to lose everything invested.
Don't let greed make decisions for you. It can be very difficult for beginners to take profits because it always seems that they could earn even more. But it is better to withdraw profits and make a new entry than to wait and incur losses.
"Trust but verify". What is written in the exchange chat must be subjected to no less thorough analysis than the situation in the cryptocurrency market? There are many people who are ready to promote a certain currency by any means - not out of altruism, but for the purpose of personal enrichment.
Analyze. Not all cryptocurrencies are the same - some are more stable, others are less, and some are even questionable. Stable cryptocurrencies are good for medium-term and long-term investments, but with "dark horses" you can take risks in the short term. The main thing is not to keep all your eggs in one basket.
You need to buy a cryptocurrency when it falls, and sell it when it rises. This way you will get ahead of the crowd, which mindlessly follows trends.
Do not try to catch the minimum and maximum. This is too risky a game, especially for a beginner. Even stock sharks can not always correctly assess market sentiment.
“Hope for memory, but don’t make a mistake yourself”: strategies and orders must be written down. This will help you calculate the average purchase price in the future and create your own strategy for each stage of the auction.
A cryptocurrency exchange, like any other exchange, is not a casino. Whatever the trading mythology may say, experience, knowledge, and analytical skills mean much more here than luck. Therefore, if you are seriously interested in cryptocurrencies, first of all, invest in your education, understand how this market works, learn all about the types of cryptocurrencies and strategies, and play with a full understanding of what you are doing.

cryptocurrency exchanges