For a long time, mining and crypto trading were ways of earnings digital currencies, and for it to be efficient, platforms where users could sell and buy cryptocurrencies without any hindrances soon became required. That’s how cryptocurrency exchanges came to life.
Eventually exchanges began to grow in quantity and quality in order to have time to occupy their niche in the dynamically developing market. Regular reports of hackings amounted to billions in losses, which made crypto exchanges pay attention to the quality and usability.
Today, is the usability day, and so we will consider the most convenient and usable crypto exchanges right now according to traders.
However, each trader has his own set of criteria which they follow in crypto exchange and makes a decision whether to work with it or not. But one thing is clear for sure: tру more easy and convenient the crypto exchange it is, the more popular it becomes.
Binance
Binance cryptocurrency exchange is an undisputed leader in the market. Despite the fact that it began operating only in 2017, Binance takes up the 1st place in daily trading volume.
Main benefits:
- low commission of 0.1% per transaction;
- own e-blockchain that allows processing of up to 1,400,000 orders per second;
- most popular cryptocurrencies are represented there;
- used as a reliable and simple multi-wallet;
- large set of analytical and prognostic tools for trading;
- great apps.
What users say about Binance
And here is the video to explain why Binance is the best crypto exchange according to Youtube user:
Coinbase
Coinbase is not only an exchange, but also a crypto wallet at the same time. It attracts major players, and more than once entered the list of top exchanges. It works with four leading coins: ethereum, bitcoin, bitcoin cash and litecoin. There is a referral system, a mobile version, and deposit insurance.
Main benefits:
- number of customers exceeds 10 million;
- officially supported by customers from 32 countries;iIn the spring of 2017
- in the spring of 2017 it has announced the creation of a Token messenger. Similar to WeChat this application should provide digital payments.
- cryptocurrency purchasing is carried out very quickly. Coinbase sells and buys cryptocurrency from users directly. No need to wait until the request is fulfilled.
What Reddit users say about Coinbase
Bitfinex
Bitfinex at the early stage of its existence mainly worked with bitcoin, but over the time its functionality has expanded and today it allows trading with other cryptocurrencies, as well as the exchange of them into the fiat money.
Main benefits:
- volume of trade. Bitfinex is one of the biggest projects for trading cryptocurrencies and has an impressive turnover;
- safety of use. Developers have done a lot to improve the reliability of using their platform and users can worry less about the safety of their money;
- mobile app support. Everyone can use the trading platform anywhere, because the team has developed special trading applications for smartphones based on Android and IOS;
- lack of limits on withdrawal;
- it supports dollars. The exchange allows to trade fiat currencies and even has the ability to withdraw via a bank transfers.
What users say about Bitfinex
Kraken
Kraken is one of the oldest crypto exchanges founded in 2011. It refers to the exchanges with a large number of trading pairs.
Main benefits:
- long term work in the market;
- impeccable reputation for security and customer service;
- useful interface;
- one of the lowest commissions that decrease with an increase in trade turnover (0% - 0.26%);
- stores the bulk of client currencies in cold wallets for hacking protection.
What users say about Kraken
And here is a very interesting comment from a Bestcoinexchange.net user:
While choosing the best crypto exchange and exploring innumerable forums like Reddit, we came to the conclusion that the more people get involved in trading the more opinions appear for them to choose from. It’s impossible to choose one or two of them, as each trader has his own unique criteria. Before choosing a crypto exchange just figure out what you personally like the to see and compare all the available exchanges here.
And if you are lazy enough to follow the link, watch this useful video. Happy usability day!