Top 5 Exchanges

What is a Cryptocurrency exchange?

A Cryptocurrency exchange is a platform on which you can trade in Cryptocurrency. It depends on the platform which coins there are to trade, therefore there can still be a reasonable difference between the exchanges. On a exchange it is only possible to trade in some of the largest currencies such as Ethereum and Litecoin. But on other exchanges you can actually act in smaller, unknown Cryptocurrencies. The trading volume also differs per exchange. The trading volume is the amount of coins that are traded. This is often indicated by displaying the trading volume of the past 24 hours.

In addition to the trade volume, the number of trading pairs is also important for an exchange. A trading pair is ‘the market’ on which you trade. With the trading pair BTC / LTC it means that you can exchange Bitcoin for Litecoin and vice versa. For trading pair LTC / ETH it means that you can trade Litecoin for Ethereum on that market and vice versa. I also personally pay attention to the Bitcoin withdrawal fee. This is the amount you have to pay to get Bitcoins from the exchange to send it to your hardware wallet, for example. This fee differs per exchange and this can sometimes save a fair amount of money.

 

Top 20 Cryptocurrencies

[vcw-small-table color=”white” currency=”USD” symbols=”BTC,ETH,XRP,BCH,LTC,NEO,ADA,XLM,EOS,MIOTA,DASH,XMR,XEM,ETC,TRX,VEN,USDT,NANO,LSK”]

 

1: Binance

Binance is currently the largest Cryptocurrency exchange. I chose to create an account because there were some trading pairs with a high volume that were not to be found elsewhere. Binance also has a referral program and its own Cryptocurrency: Binance Coin (BNB). Binance also has an Android application, which makes it possible to trade easily on the go.

Trading volume: The total trading volume currently amounts to $ 5,946,664,331
Trading pairs: At the moment 263 trading pairs are available at Binance
Bitcoin withdrawal fee: The withdrawal fee for Bitcoin is 200,000 satoshi (0.002 BTC)

What are the pros and cons of Binance?

Benefits:

  • Simple registration.
  • The exchange is very fast, allowing transactions to be filled quickly.
  • The founders of Binance are well-known names in the Crypto World. They are involved in, among others, NEO and OKcoin, another exchange.
  • Binance has a good referral program.
  • You have the opportunity to buy Binance Coin (shares in the exchange) in order to take advantage of the growth of the platform.

Cons:

  • A lot of documentation is in Chinese, since the exchange comes from here.
  • It is not possible to trade with ‘fiat’ currency such as euros or dollars.

Simply sign up for Binance here!

Binance Exchange

2: Bittrex

Bittrex was the first exchange on which I was active and on which I am still active. At the time I chose Bittrex because it had an easy-to-understand interface and because the trading pairs I needed were on. Bittrex is also one of the largest Cryptocurrency exchanges at the moment, with a trading volume that puts Bittrex on the 4th place of all exchanges. Bittrex is also a well-secured exchange. Actually, in addition to the two-factor authentication, an extra check is always performed via email. This is sometimes annoying when you want to do something quickly on the exchange, but it is very safe.

Trading volume: The total trading volume currently amounts to $ 2,473,137,779.
Trading pairs: 265 trading pairs are currently available at Bittrex.
Bitcoin withdrawal fee: The withdrawal fee for Bitcoin is 100,000 satoshi (0.001 BTC).

What are the advantages and disadvantages of Bittrex?

Benefits:

  • Bittrex takes the safety of its users very seriously with good security measures and control.
  • Thanks to the strong security measures, Bittrex can also be used relatively well as an online wallet.
  • Bittrex uses low fees.

 

Cons:

  • Due to the security measures, logging in takes longer than most exchanges and requires more steps.
  • The helpdesk generally responds slowly to questions from users.
  • The exchange is extensive but therefore takes some time to get the hang of it.

Sign up for free on Bittrex and try it out!

Bittrex exchange

3: KuCoin

The KuCoin exchange is one of my favorite exchanges. This exchange is still relatively new, but is growing very fast in terms of trading volume. In addition, new coins are constantly being added, so that the supply becomes larger (trading pairs). The KuCoin also offers shares (KCS) that you can own and in which you can trade. 50% of the trading fee paid on the platform is distributed among the users through those shares. Read more about this in the article about KuCoin.

Trading volume: The total trading volume currently amounts to $ 338,431,098
Trading pairs: 89 trading pairs are currently available at KuCoin
Bitcoin withdrawal fee: The withdrawal fee for Bitcoin is 200,000 satoshi (0.002 BTC)

What are the pros and cons of KuCoin?

Benefits:

  • Simple registration.
  • Clearly arranged making it easy to use.
  • Fast deposit time.
  • Because you can buy shares (KuCoin shares) you have the opportunity to buy shares in the exchange in order to take advantage of the platform.

Cons:

  • There are still a number of large Cryptocurrencies on the exchange (trading pairs).
  • Because there are a lot of new users lately, the site is occasionally out for maintenance.

Sign up for free and easy on KuCoin and try it out!

KuCoin exchange

4: Cryptopia

Cryptopia is a relatively small exchange from New Zealand and is known to have a huge number of trading pairs. This was also the reason that I registered here at the time. When you want to trade small, more unknown coins, Cryptopia is extremely suitable. In addition, Cryptopia has a referral program and also its own currency, namely the Dotcoin (DOT).

Trading volume: The total trading volume currently amounts to $ 144,222,761.
Trading pairs: There are currently 407 trading pairs available at Cryptopia.
Bitcoin withdrawal fee: The withdrawal fee for Bitcoin is 100,000 satoshi (0.001 BTC).

What are the advantages and disadvantages of Cryptopia?

Benefits:
  • Transaction costs are low.
  • There are a lot of (unknown) altcoins to trade.
  • The customer service is quickly compared to the other exchanges.

Cons:

  • The volume is low, so you can not always find a buyer for your coin.
  • The interface has not been updated for a long time, it is outdated.
  • It is not possible to trade with euros or dollars, only with New Zealand dollars.

Register here on Cryptopia and start right away!

Cryptopia exchange

5: Coinbase / GDAX

Coinbase is a large organization where you can buy some of the largest Cryptocurrencies such as Bitcoin, Litecoin and Ethereum. Are you not interested in trading in all different smaller coins, but do you just want Bitcoin or Ethereum HODLs?Then Coinbase is suitable. It has a very simple interface where you can only buy and sell. The success of Coinbase is the ease with which inexperienced individuals can buy Bitcoins. In addition to the platform just described, Coinbase also has the GDAX exchange. This is from the same organizations, but allows the more wealthy professionals to trade in the same coins.

Trading volume: The total trading volume currently amounts to $ $492.113.392
Trading pairs: 10 trading pairs are currently available at Coinbase / GDAX.
Bitcoin withdrawal fee: The withdrawal fee on Coinbase is reasonably pricey. Are you buying Bitcoin here and do you want to store it elsewhere over time? Then transfer it to GDAX and withdraw it from there. There are no fees between Coinbase and GDAX as it is owned by the same owner and the fee on GDAX is free. When you are logged into Coinbase and go to gdax.com you can log in immediately. The system recognizes that you are on Coinbase and will grant you access without further registration.

What are the advantages and disadvantages of Coinbase?

Benefits:

Cons:

  • The fee on Coinbase is relatively high. You have to make some extra effort through GDAX to send your bitcoin to another exchange if you want to
  • Your offer is low. There are only a few coins to buy on Coinbase
  • Because the platform has a huge number of users, it sometimes seems that it is slow or that a transaction takes a little longer

Sign up here at Coinbase and receive an extra $ 10 of Bitcoin with your first deposit of at least $ 100 to Bitcoin.

Coinbase exchange

 

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