Cryptocurrency trading continues to gain popularity, that’s why services that allow such type of trading grow in quantity with the speed of light. There are about 350 exchange markets known for today.
For beginners it is better to focus on large-scaled and reliable cryptocurrency exchange markets, which have already gained a good reputation among the trading community. So that, there would be no need to understand all three and a half of dozen resources. But even major players have their special features.
When choosing a cryptocurrency exchange market, rating plays the main role, which is made up on the basis of 8 important parameters:
- Deposit, withdrawal and transaction fees amount;
- The number of trading pairs;
- Daily cash turnover;
- User’s verification;
- Customers’ technical support.
We have chosen 6 cryptocurrency exchange markets and compared them by these parameters, so that beginners in crypto-trading could choose a suitable platform for their needs.
This cryptocurrency exchange market started its work at the beginning of 2017, but quickly became popular and got the leading position in top-charts. The platform became successful due to the lowest transaction fees for money withdrawal and a wide range of trading tools.
- A reliable exchange market registered in Switzerland and owned by the Shanghai company Beiji Technology. The leaders of this platform are the professionals from Wall Street, including the ex-CEO of the Blockchain development department. During the first days of work, 20,000 users signed up. At the moment there are more than 6 million users. This fact confirms the users’ loyalty to this service.
- A platform with a minimum transaction fee of 0,1% for withdrawal of funds. 0,001% for BTC; 0,01 for ETH, and 0.25% for XRP. And if you buy Binance Coin – the platform’s own cryptocurrency, you can reduce the transaction fees up to 0,05%. Depositing and withdrawal of funds is made exclusively in the cryptocurrency. Fiat money is not presented on this exchange market.
- More than 230 cryptocurrencies pairs.
- $ 1 286 364 677 USD – a daily cash turnover.
- No users’ verification at withdrawal daily limit of 2 BTC.
- 2 separate interfaces for beginners and for advanced traders – “Basic” and “Advanced”. “Advanced” version has a bigger set of trading possibilities. In addition, it has a more creative design, the ability to add indicators (MACD, MA, Stoch, RSI, Boll) on the graphics, add analytics tools (lines, triangles, Fibonacci levels) and switch between different tabs of alternative wallets.
- Efficient customers’ technical support working 24/7.
Exmo appeared in 2013 and only for one year of work it gathered 100 000 of subscribers. In 2017, this indicator was equal to one million of registered users. This service has a policy of adding only interesting and popular cryptocurrencies, that’s why there are few trading pairs on this exchange market. However, this does not overload the trading space and allows beginners to clear up everything quickly. It is convenient to users, as it allows depositing and withdrawal of funds in fiat money. In addition, there are trading pairs of cryptocurrency / fiat money and vice versa.
- Platform’s reliability is provided by high security requirements. This is another reason why there are few cryptocurrency pairs on this exchange market. Exmo is among the
top- ten cryptocurrency exchange markets and has a reputation of a reliable platform, due to many years of reliable work, particularly, with no complaints. Any top-list of cryptocurrency exchange markets often contains Exmo.
- Transaction fee is equal to 0.2% from each transaction. If transacting big amounts (starting from $ 100 000), the exchange market offers a refund of a paid commission fee.
Deposit of funds is possible in USD and EUR without any commission fee. Transaction fee for withdrawal of funds depends on payment systems.
The majority of popular cryptocurrencies and fiat money are supported by exchange market. The most popular trading pairs on Exmo are BTC/EUR, BTC/USD, DASH/EUR, ETH/USD ETH/EUR.
- $ 35 187 439 USD – a daily cash turnover.
- For any operations, users must necessarily go through identity verification process. For these purposes user needs an identification document – passport, ID card. This data should be submitted in a special form and attached to the scanned document. In order to verify your address, you will need to present a utility bill or a bank statement. The last step is the signing of a contract-offer: the document must be printed, signed and uploaded to Exmo platform.
- Simple and intuitively understandable interface with a small set of trading tools.
- During the lifetime of this exchange market, there were multiple hacker attacks and money theft from users’ accounts. However, thanks to customers’ technical support, all the issues have been quickly resolved. The mode of customers’ support service is 24/7. Moreover, the convenient button at the top allows users quickly solve any problems.
One of the main advantages of this system is fast money withdrawal. It takes from several seconds and up to 30 minutes.
This exchange market was created in 2012 in Hong Kong. In a years-time it profited at 10% of its total cryptocurrency trading volume. Bitfinex interface is translated into many languages.
- The owners of the company claim that they do not get under the jurisdiction of any countries. However, there has been a case of a massive money theft from this exchange market. As a result, company’s shares devaluated. Nevertheless, the exchange has survived. The developers have improved the security system and till today the exchange market continues to successfully exist on crypto-market. Security is provided by: two-factor authentication, blocking of funds at transacting from another IP, a secret phrase for confirming withdrawal of money and mail encryption. Nowadays, many traders have positive feedbacks regarding this exchange market. Due to this, the level of reliability remains high enough.
- Depositing and withdrawal of funds is possible to users’ cryptocurrency wallets without any commission fees from the side of the exchange market. If you want to withdraw money in USD, be ready to pay big transaction fee. For internal transactions, Bitfinex places a commission fee, which depends on the type of deal and its amount.
|Maker (Opens position)||Taker (Closes position)||Monthly trading volume|
|0,06%||0,20%||$1 000 000|
|0,04%||0,20%||$2 500 000|
|0,02%||0,20%||$5 000 000|
|0,00%||0,20%||$7 500 000|
|0,00%||0,18%||$10 000 000|
|0,00%||0,16%||$15 000 000|
|0,00%||0,14%||$20 000 000|
|0,00%||0,12%||$25 000 000|
|0,00%||0,10%||$30 000 000|
- $ 462 789 999 USD – a daily cash turnover.
- You can trade on Bitfinex with all popular and highly-demanded cryptocurrencies.
- Account verification for trading, depositing and withdrawal of funds is required. For these purposes, you will need a document in Latin characters, a bank statement, where the money from the exchange market can be transacted, and confirmation of the address by the utility bills. All in all, the procedure is rather time-consuming.
- For beginners it is comfortable to start with a demo account provided by the exchange market. The interface is easy understandable. There are a lot of tools for trading: limit, market, stop, cancel one order by another, automatic cancellation of the order after a certain period of time.
There are also unique developments of the exchange market: the iceberg algorithm, which shows only a half of the order – the original amount without results; TWAP is an algorithm that launches a series of automatically deactivating orders.
You should pay attention to the credit possibilities of this exchange market. Bitfinex uses a system, where you can trade not only using your own funds, but also using the credited funds from other users. Please take into account that, if exchange rate of traded currency falls down, all the credited amount with interests will be refunded to the owner, at the same time you will lose your money.
If you act as a creditor, you can get a passive income from interests. In such a way additional possibilities to make profit are opened to users.
You can hold trading with the help of smartphone apps on the basis of iOS and Android. That allows trader to be dynamic.
This exchange market started to work in 2014 and quickly became a very popular trading platform. The success of the platform is provided by a large number of traded cryptocurrencies –500 different coins, which form 6000 trading pairs. The developers monitor crypto-idols and try to add interesting coins.
- The exchange market does not provide any guarantees. Users often complain for malfunctions and money theft. Therefore, it is impossible to claim 100% reliability of this exchange market, but there are always risks when working with any exchange market. Yobit is often included in different top-list of exchange-markets.
- The exchange market takes 0.2% of the transaction amount as a commission fee. Depositing and withdrawal of funds in the cryptocurrency is held without any commission through the following payment systems: “Payeer”, “AdvCash” and “PerfectMoney”. In USD the commission fee constitutes 3%.
- As it was mentioned before, the total number of trading pairs is about 6000. Sometimes you can find rather exotic currencies.
- The trading volume on this exchange market is relatively small – $ 25,362,233 USD.
- Users don’t need to go through verification process. This is an undoubtful advantage for beginners.
- At first sight you may have a feeling that exchange market’s interface is overloaded. However, if to explore the platform better, you can find very convenient features, such as: pages don’t scroll; all the information is located in one window.
- Customers’ technical support isn’t available all the time and does not always solve users’ problems.
In spite the fact that many people don’t prefer this exchange market due to its constant failures with funds transactions and buggy interface, it has many advantages for trading and using:
- This and a huge number of different cryptocurrencies involved in trading,
- FreeCoins – cryptocurrency crane, where you can get free coins,
- Dice game, reflecting the principle of casino, where you can win coins,
- InvestBox – service for getting passive income,
- Using AddCoin, you can offer your cryptocurrency for trading,
- Using ICO tab, you can become an investor of any cryptocurrency.
It is one of the biggest international exchange markets, which allows you to exchange the maximum number of bitcoins for altcoins. It was created in 2014 by anonymous developers from the United States, but it quickly gained the popularity all over the world. It is suitable for both: for professionals as well as for beginners.
- The reliability of this exchange market is ensured by a high level of security, two-factor authentication and users’ verification. However, some users complained for fake cryptocurrencies rates. The platform was repeatedly attacked with DDoS-attacks, and users were emailed with phishing scam letters. Let’s remember one more time that, working with any exchange market is a big risk.
- This exchange market doesn’t accept fiat money, so depositing and withdrawal of money is possible using your cryptocurrency wallet.
- With the fiat, the exchange does not work, so the input and output of money. The transaction fee is calculated depending on the volume of traded amount. The more the amount – the less the commission fee will be.
|< 600 BTC||0,15% sell||0,25% buy|
|600 – 1200 BTC||0,14% sell||0,24% buy|
|1200 – 2400 BTC||0,12% sell||0,22% buy|
|2400 – 6000 BTC||0,10% sell||0,20% buy|
|6000 – 12000 BTC||0,08% sell||0,16% buy|
|12000 – 18000 BTC||0,05% sell||0,14% buy|
|18000 – 24000 BTC||0,02% sell||0,12% buy|
|24000 – 60000 BTC||0.00% sell||0,10% buy|
|60000 – 120000 BTC||0.00% sell||0,08% buy|
|> 120000 BTC||0.00% sell,||0,05% buy|
The platform allows users to get credit in bitcoins.
The number of trading pairs is relatively small. It is about 140, but at the same time the trading pairs with bitcoin constitutes about 63.
- The trading volume on this exchange market is – $ 31,103,652 USD
- Users’ verification is not necessary; however, in this case, the maximum withdrawal amount would be $ 2000. If you provide the documents confirming your address and identity, the daily limit will be increased up to $ 25,000. You can it increase more with the help of customers’ support service.
- There are several trading tools available on Poloniex, for example, Fibonacci levels and Bollinger bands, which can be tuned up for any trading pair.
Customers’ service support accepts requests only by email, which is undoubtedly a rather slow way of contacting them. Previously there was a chat on web-site, that later was removed, referring to the lack of staff.
Generally, the exchange market has many possibilities for trading, for example, providing loans, which is a definite advantage for beginners. There are several tools for charts analytics, popular trading pairs, and user-friendly interface. You should be very careful about the frequent Pumps and Dumps and remember that the withdrawal is often delayed.
Since 2015, the platform has exclusively existed as an on-line exchanger. Today it is a large international exchange market, which tries to provide users with maximum security.
- Developers name themselves as “paranoics of security”, so that’s why they try to make the exchange market as reliable as possible in this aspect. Many traders appreciate this exchange market for its safety and security of their funds.
- There is no fiat money on this exchange market. If you want to deposit funds on your balance, the most convenient is to use bitcoins through online exchangers and payment systems. Money is transacted to a specially generated wallet. The commission fee for the transaction is 0,25%. The exchange market itself does not take any commission fees for depositing or withdrawal of funds, but the payment systems can charged these fees.
This exchange stock is leading in terms of trading pair’s quantity. Administrators always add new ones.
- $ 56 029 390 USD – a volume of turnover.
- Users’ verification is not required, however to deposit funds is possible without verification, but you can’t withdraw them. For these purposes you will need a passport in Latin characters. You should upload a scanned version of it to exchange market, you cannot cut it or edit. As well you need to upload your selfie with passport, so that your face and all the data are clearly visible.
- Interface is pleasant and fast-working. There are a lot of tools for charts analytics of each pair. For example, already familiar to us Fibonacci levels.
- If to speak about the customers’ technical support, it is the weakest point of this exchange market. Users often complain for long answering of operators and unsolved issues.