Exchanges

What is the cryptocurrency exchange

Cryptocurrency exchanges are trading venues where buyers and sellers of digital assets (Bitcoin, Ethereum and other altcoins) can conduct their business and trade. One can buy cryptocurrency for fiat money like dollars, euros, pounds or other currencies, but also exchange it for other digital assets.

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Right now cryptocurrency exchanges operate as private companies and are not regulated, but largest exchanges take their business, and security of their customers, very seriously and operate to the highest rule of conduct. Also, many popular exchanges are backed by international investment firms (venture capital and others) which gives their business additional credibility.

Many exchanges offer cryptocurrency wallets, chat messaging service and also trading platforms for professional traders.

Top Crypto Exchanges | EthereumTrading.pro

Top Crypto Exchanges | EthereumTrading.pro

Things to consider when picking up the best Crypto Exchange

While many people prefer to trade crypto via specials CFD brokers, some prefer to buy Bitcoin or Ethereum directly on cryptocurrency exchange. While there are numerous crypto exchanges on the market it is not easy to pick up the best one and there is the number of things to consider.

Reputation – while many exchanges claim that they are the best ones, we have seen many of them being hacked in the recent month with clients losing millions of dollars. Also, since crypto exchanges are not regulated like the regular ones, reputation plays the key. Every exchange has its ups and downs, the general opinion of the top ones is positive and even if they run into problems, they will try to fix them (unlike others where owners can potentially run off with your money and disappear). We recommend doing some research and reading some independent exchange reviews to get a better understanding of exchange reputation.

Fees – almost every exchange will charge a transaction fee when you sell or buy cryptocurrency. If someone is offering it for free – you have to be very careful (unless the exchange runs special promotion). We recommend studying the exchange rates fees so you know what costs you occur when trading cryptos.

Security and Verification Requirement – security is one of the main factors as if the exchange is hacked and you digital coins are stolen, there is a very slim chance of getting them back. Also, while Bitcoin or Ethereum is anonymous in principal all reputable exchange will ask for your verification documents such as a copy of the passport, ID and residence address. This is actually not a bad thing as it means exchange are taking their business seriously and also trying not to run into any potential problems with regulators (like money laundering etc).

Top Crypto Exchanges | EthereumTrading.pro

Top Crypto Exchanges | EthereumTrading.pro

Exchange Rates – unlike fiat currencies or other traditional asset classes, crypto exchange rates vary from exchange to exchange considerably. While exchange rates probably won’t be the key factor on picking the trading venue, one still should give it careful consideration together with other factors.

Region – this is another important thing to consider and you need to make sure that exchange supports your geographic region. It happens quite oftener that exchanges based in one region do not support clients from others so please check this carefully before signing up.

Some of the largest cryptocurrencies are:

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