Cryptocurrencies are trending, and hot and they are here to stay. Once upon a time dismissed as fraud, financial fantasy, or tool for terrorists and criminals, now Cryptocurrencies are intriguing for many investors. Corporations and institutions are going deeper into the world of trading. Even the fact that the country of El Salvador used profits from their crypto trading to open 20 new schools speaks volumes about the magic of bitcoins.
Of course, the question is which one is the best? Crypto exchanges seem to be everywhere. Even PayPal is offering options for a limited number of users to purchase crypto right from their payment system. Brokers like eToro and Robinhood are trying to find a way to provide their customers with crypto-experience.
It’s not anymore about how to avoid fraudulent or outright fake crypto exchanges, as some major players have been around for long enough to build solid reputations. Now the best crypto exchange is the one with the lowest fees, high security, and above all, the one which provides the best user-friendly experience while accessing all the juicy crypto investment options.
While cryptocurrencies are known for their volatility, the markets are changing and it is becoming clear that long-term investments will provide the best results. While mere HODLing (Hold on for dear life) of crypto is still the best way to avoid all the drama of prices going up and down, now there are plenty of options on how to gain that sweet passive income. Nowadays, you can do it with crypto savings accounts, yield farming, liquidity providing, crypto lending, or for those interested in a more active approach, spot or margin trading.
Even if you are neither scalper trader, swing trader, day, position, bull, or bear trader it’s always good to keep track of the latest news in the world of cryptocurrencies. The markets are moving so fast that the landscape can change in the course of a year or even six months. So make sure to check TradeCrypto.com for the latest.
Best for spot trading
Spot trading is the basic crypto investment. You buy a coin. You wait for the market to offer a price you feel good about. You trade. Ka-ching. No extra financial magic is happening. You simply do the trade with what you have, and because the crypto exchanges operate online, the market is always open. Because it’s a straightforward trade it’s easy to figure out risks and rewards.
For spot trading, we can recommend the established crypto exchanges which have high security and good privacy protocols. Fees vary because as the industry expands it’s a race to the bottom where currently 0.1% is considered low, while 0.5% is considered high. Watch out for hidden fees, usually, they come with limits and special rules for withdrawals.
Binance.US, Coinbase, Abra, Gemini, Bittrex are some of the good crypto exchanges out there.
Best for margin trading
Margin trading is similar to spot trading except it features the use of borrowed funds to further capitalize on the potential gains (of course it affects the risks, too) of the chosen crypto coin. Due to the volatility of cryptocurrencies, a well-picked coin known to have a good chance of skyrocketing can make huge returns to investors.
To start a margin trade, the investor needs to have collateral, called a margin, but then depending on the coin in question, there can be a multiplier called leverage. Basically, for certain coins offered leverages are 1:3, 1:5, or even 1:20, 1:50, or 1:100.
Say, you want to margin trade ETH/BTC at BitMax, the offered leverage is 1:10, which means that for every $1000 collateralized, you can borrow $10000. Basically, despite the risks and costs involved, the gains can be enormous.
When it comes to margin trading, these are the best exchanges:
Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. As of January 2018, Binance was the largest cryptocurrency exchange in the world in terms of trading volume.
Binance was founded in July 2017 by Changpeng Zhao and Yi He. The company initially launched in China but later moved to Japan and then relocated again to Hong Kong due to the Chinese government’s crackdown on cryptocurrency exchanges. Binance later moved out of China due again to the Chinese government’s ban on cryptocurrency trading.
As of May 2019, Binance had grown to become the most popular cryptocurrency exchange in the world with a 24-hour trading volume of more than $1.3 billion.
Binance offers two types of accounts: Basic and Advanced. The Basic account allows users to trade cryptocurrencies with a 2 BTC daily limit. The Advanced account gives users access to more features, such as margin trading, and has a higher daily limit of 100 BTC.
Binance charges a 0.1% fee on all trades. Withdrawals are free of charge. Deposits can be made in either cryptocurrency or fiat currency.
Binance is one of the most popular cryptocurrency exchanges in the world and is frequently ranked among the top exchanges by 24-hour trading volume.
By the way,
ByBit is a cryptocurrency derivatives trading platform with headquarters in Singapore. The company was founded in March 2018 by Former Wall Street Quant, Benjamin Tang.
The Bybit team has a total of 50+ members, with offices in Singapore, Taiwan, and Brazil.
Bybit is a margin trading platform that allows users to trade cryptocurrencies with leverage up to 100x. The exchange offers trading in BTC/USD, ETH/USD, EOS/USD, and XRP/USD pairs.
Bybit does not charge any deposit fees. Withdrawals are also free of charge. Trading fees are 0.075% for maker orders and 0.025% for taker orders.
Bybit is one of the leading cryptocurrency margin trading platforms with a daily trading volume of over $1 billion. The exchange has over 100,000 active users from over 100 countries.
BitMax is a global operator of digital asset exchanges for a diverse group of clients from all over the world. The company was founded in 2018 by a team of fintech and crypto pioneers with extensive experience in Wall Street, Silicon Valley, and blockchain technology.
BitMax has created a unique platform that combines the best aspects of traditional financial exchanges, social media platforms, and re-envisioned distributed ledger technology to power its next-generation digital asset exchange.
The BitMax platform provides users with a wide range of features and tools for managing their digital assets, including support for margin trading, short selling, OTC trading, and more.
BitMax charges a 0.1% fee on all trades. Deposits and withdrawals are free of charge.
BitMax is one of the leading digital asset exchanges in the world with a daily trading volume of over $1 billion. The exchange has over 200,000 active users from over 100 countries.
FTX is a cryptocurrency derivatives trading platform that was launched in 2019 by Sam Bankman-Fried, the CEO of Alameda Research.
The FTX team is based in San Francisco and Hong Kong.
FTX offers margin trading in a wide range of cryptocurrency pairs, with leverage up to 101x. The exchange also offers futures contracts on a variety of cryptocurrencies, as well as options contracts.
FTX charges a 0.02% fee on all trades. Deposits and withdrawals are free of charge.
FTX is one of the leading cryptocurrency margin trading platforms with a daily trading volume of over $1 billion. The exchange has over 200,000 active users from over 100 countries.
We picked Kraken primarily because it’s the industry veteran, one of the oldest crypto exchanges in the U.S. Kraken was America’s go-to exchange when US regulators banned Binance from operating. Kraken may be too complex for beginners, but it offers fairly low fees, sophisticated trading features, and absolutely amazing cybersecurity ratings.
Kraken is the one to pick if you want to deposit in USD, GBP, EUR, CAD, and JPY. Among crypto exchanges operating in the States, Kraken comes out as the most reliable choice for serious traders with advanced security features that make it virtually hacker-proof. The only downside is the smaller number of coins offered for trading in comparison to Binance.
There are also a number of other exchanges, such as Pancake swap, for example.
Pancake swap is a new decentralized exchange that allows users to trade Ethereum and Binance smart chain tokens. The platform is designed to be simple and user-friendly, with an emphasis on security and speed.
Pancake Bunny is the native token of Pancake swap, and is used to pay trading fees on the platform. The token also provides holders with a number of benefits, such as voting rights and a share of the platform’s transaction fees.
Read more about Pancake swap and Pancake bunny.
Ecommerce and Crypto
Cryptocurrency exchanges offer a number of advantages for e-commerce businesses and their customers. Perhaps the most obvious benefit is that they provide a more secure way to make payments than traditional methods like credit cards or PayPal.
Another advantage is that they can help you save on fees. For example, when you accept Bitcoin as payment, you can avoid the 2-3% transaction fee that credit card companies typically charge. Additionally, because cryptocurrencies are decentralized, there is no need to pay costly bank wire transfer fees.
Finally, cryptocurrencies offer an additional layer of protection for buyers and sellers. When transactions are made using traditional methods, there is always the risk of chargebacks or fraud. However, with cryptocurrencies, transactions are final and cannot be reversed.
This helps to protect both parties from any potential scams.
If you’re thinking of adding cryptocurrency for e-commerce business, these are some of the best exchanges to use. Each exchange has its own unique features and benefits, so be sure to do your research before choosing one.
Kraken is a great choice for those looking for a secure and reliable platform with low fees. Bitfinex is ideal for experienced traders who want access to more exotic altcoins. ShapeShift and Changelly are perfect for those who want to avoid the hassle of creating an account and going through KYC. No matter which exchange you choose, you’re sure to enjoy the many benefits that cryptocurrencies have to offer.