Currently, the limelight is on cryptocurrencies like BTC, Binance coin, and ether. An account on cryptocurrency exchange is necessary to accomplish your cryptocurrency buying and selling goals. The notion of cryptocurrency exchange resembles the stock exchange. Get a comprehensive guide about cryptocurrency trading by clicking here. As the stock exchange provides you essential tools and features to buy, sell and trade in stocks, cryptocurrency does the same but with 24*7 availability.
With cryptocurrencies getting more and more spotlight, the rush in the exchange industry is also rising. Profound cryptocurrency exchanges have proper security, encryption, fewer transaction fees, and numerous other features. Here is the world’s leading popular cryptocurrency exchange.
Why Need An Exchange For Buying Virtual Coins?
The majority of cryptocurrency operation takes place on a peer-to-peer network. Peer peer network defines direct contact between the transaction parties. But cryptocurrency exchanges are just like an intermediate between participants of the transaction.
Direct contact between sender and receiver has led to multiple frauds and scams, and cryptocurrency exchange mitigates such prospects. In short, to improve the security and scalability of cryptocurrency networks, an exchange is mandatory. Below listed are top cryptocurrency exchanges.
Coinbase
Coinbase, a US-based cryptocurrency exchange, has a very robust user base. Coinbase is the leading exchange with bulletproof security for purchasing and selling cryptocurrencies. Coinbase transaction fees extend up to 0.5%, and to trade with the help of Coinbase, you don’t need to buy a dedicated cryptocurrency wallet as it consists of an inbuilt wallet.
As per reports, the number of cryptocurrencies you can trade in Coinbase is nearly 130. All of the projects listed on Coinbase are very authentic. The only con of this Coinbase exchange is that the custody of the private key is limited to the exchange authorities only. The UI and liquidity of Coinbase are just mind-blowing.
Cash App!
Cash app is a popular foreign e-banking platform like PayPal but with some advanced and convenient aspects. However, unlike Coinbase, the transaction fees on the cash app are different, and there is no definite database to define the transaction fees on this platform.
Like Coinbase, the cash app also has an inbuilt cryptocurrency wallet. Most popular cryptocurrency exchanges have the feature of an inbuilt wallet, but the security of these wallets varies in all exchanges based on their security protocol. The cash app’s drawbacks include limited to bitcoin trades only. A trader has to pay substantial withdrawal fees for transactions through credit cards. The amount of bitcoin you can buy or sell off on this cryptocurrency exchange is also fixed.
Binance Exchange!
Binance is currently a fan-favorite cryptocurrency exchange due to multiple features. Binance exchange offers numerous advantages at a global level over other cryptocurrency exchanges. Binance exchange levies the lowest transaction fees as compared to other foreign exchanges. There is no proper database to define the number of cryptocurrencies listed on the Binance exchange as there are many. In short, one can trade in a large variety on the Binance exchange.
The market charts present on the Binance exchange are pretty much advanced. The cons of Binance exchange include a user interface built for only advanced traders, and newbies find it very difficult to start cryptocurrency trading. The US version of this exchange offers fewer features than other versions operating in different countries. Moreover, Binance does not work in all countries. For example, the Japan Binance exchange faced some challenges in the past few weeks.
Binance is exceedingly popular amongst large-volume cryptocurrency traders and early movers. You can find projects on Binance that no other cryptocurrency has listed so far. In addition, you can get an option to trade in both more popular and less popular cryptocurrency exchanges. Before placing the order on this cryptocurrency exchange, you can also chat with the seller to get a crisp, clear view regarding your order.
Binance futures are very popular amongst mainstream cryptocurrency traders. All the more, Binance provides an enormous amount of leverage to the traders. Undeniably you can become a millionaire by using leverage offered by the cryptocurrency trading journey, but it can also bankrupt if you use it without proper knowledge.
The portion, as mentioned earlier, describes some famous cryptocurrency exchange that offers the best services.
