What is a Crypto exchange?
A cryptocurrency exchange is a platform that you simply can use online to buy, sell, and trade cryptocurrencies and even Fiat currencies if you like. Exchanges vary in regulation, legitimacy, and trading options among several other factors.
- Traffic: The more traffic a website gets will mean that more investors are likely to buy and sell crypto assets on the platform.
- liquidity: This is the rate at which an individual can quickly buy and sell their assets without affecting the price.
- Security: This is a crucial objective of any digital currency exchange to implement in their platform and prevent data breaches to keep users' accounts safe.
These are the 5 platforms you should be using if you want to buy and sell your crypto assets online:
This may be very familiar to most people who got started to buying their first crypto assets especially if you reside in the United States. It has also been widely used around the world because of its advanced trading platform and ease of use it provides for its users.
This digital currency exchange is located in San Fransisco, California, and was founded in 2012. The company also has an option for users to upgrade to Coinbase Pro which has more advanced features for expert traders and a wider selection of cryptocurrencies to trade.
If you are are a beginner and want an easy and simple way to start trading crypto online then Coinbase is a good place to get started.
Okex like most of the companies listed here has proven itself to be one of the top crypto exchanges in recent years.
They provide useful features like Customer to customer (C2C) trading platform which means traders can make trades between themselves, perpetual swap options indicating to buy or sell contracts without an expiry date, and an integrated wallet called Okex wallet.
It is an app on both the Apple store and Google Play store to download, it stores all your crypto assets separate from your account.
Binance ranks top as one of the best crypto exchanges when it comes it comes to trading volume. It was launched in late 2017 and founded by Chinese national Changpeng Zhao (CZ) and headquartered in the European Isle of Malta.
This crypto exchange has grown pretty well since then and currently has a daily trading activity of over $5 billion every 24 hours. And with over 100 coins you are able to trade available to users from all countries.
Bithumb is another crypto exchange that provides easy usage for those who are eager to get started trading crypto.
The company was founded in 2014 and is located in Seoul, South Korea. They focus mainly on Bitcoin but also provide a variety of altcoins to trade. Although back in 2017 it was hacked.
The company stated that it was not from their servers but from an employee computer where they were able to steal data and passwords of over 31,000 users costing the company over $1 million. But still, the company still proves to be trustworthy with over 4 million users registered as of September 2019.
Kraken is a US-based crypto exchange located in sans Francisco. Its services are available worldwide except for Cuba, Iran, Japan, North Korea Tajikistan, and Afghanistan.
They offer trading in US dollars, euros, and Japanese Yen. They also provide a number of crypto assets for anyone to buy on their platform.
Trusted Free Crypto Resources I use
- Crypto.com (For buying and staking Crypto assets)
- CryptoTab (A browser that mines Bitcoin for you)
- LBRY (A content sharing Platform were you can get paid in LBC for watching or creating content)