The Beginner’s Guide for Crypto Currency Exchange

  • Post author:
  • Post category:Business

Cryptocurrency Exchange or Digital Currency Exchange is a kind of business which involves the exchange of cryptocurrency for other assets like cash or other currency. It is a service on the internet that offers electronic transactions in electronic formats and charges fees for them.

Any transaction or operation related to Digital Currency Exchange can be done using debit and credit cards, postage-paid money orders or any other type payments. This article is about examining the different cryptocurrency exchanges that provide crypto currency trading to newcomers and their benefits in terms of access and accessibility as well as security, deposit/withdrawal procedures and charges. This guide on cryptocurrency trading will assist you in establishing yourself with cryptocurrency exchanges Cryptos.

Coinbase/GDAX

Coinbase is among the largest cryptocurrency exchanges with its headquarters within San Francisco, California. It’s available in 32 countries and has more than 10 million customers. The service was introduced in 2012 and features an easy-to-use interface that helps make Digital Currency Exchange an easy task for someone who isn’t a technical person. It’s also available on users on both iOS as well as Android. However, Coinbase isn’t able to provide cryptocurrency cryptocurrency mining for beginners. It is primarily an exchange.

It currently provides four coins: Bitcoin, Bitcoin Cash, Ethereum and Litecoin. It allows digital currency exchange with US dollars and Euros, as well as Great British Pounds. With no transfer charges, Coinbase has never experienced any security breaches, which makes it the perfect platform for exchange of digital currencies. Additionally, Coinbase also offers a fully-fledged exchange that is called GDAX. GDAX offers advanced features as well as different and more lucrative trading rates over Coinbase.

Bitstamp

Bitstamp Another platform offers the ability to exchange digital currencies. It is fairly simple to use, and also offers advanced features through TradeView. Bitstamp has coins available such as Bitcoin, Litecoin, Ethereum, Bitcoin Cash and ripple. It allows digital currency to be exchanged with US dollars as well as Euro. It is possible to practice the most recent methods of trading in crypto currencies on this exchange.

It allows flat deposits through bank transfer and also accepts debit and credit cards. The only disadvantage you will find with Bitstamp is the slightly high cost in addition to the fact it has suffered one security breach within 7 years of operation. However, it is among the most secure exchanges. It’s accessible on both iOS and Android.

Gemini

Gemini is an UK company based in the UK, which was founded in 2015 by the twins of Winklevoss. Gemini is accessible in a few countries like the U.S, Canada, Hong-Kong, Singapore and South Korea. One of the disadvantages of it is the fact that it’s not very user-friendly. Thus, novices aren’t advised to use this platform.

It provides two coins as well as one currency that is a FLAT Bitcoin Cash Ehtereum in addition to US Dollars. Gemini has strict rules in terms of security. In the year of 2018, it hasn’t had any security breaches, making it among the most secure and trustworthy digital currency platforms. But, it is essential to be aware of the right strategies to invest in digital currencies prior to trading.

Digital Ticks

Digital ticks is an innovative cryptocurrency exchange that is aiming to become an innovator in this market. They’ve implemented numerous of the latest methods that allow anyone to begin trading.

It comes with one of a kind feature called the Single Portfolio View. This feature will allow traders to view all holding positions within one portfolio. It is easy for investors to take educated choices about the cryptocurrency exchange with this feature. It also works with Bitcoin, Ethereum, Litecoin and Dashcoin.

Kraken

Kraken is among the most renowned exchange platforms for cryptocurreny. It was launched in the year 2011. is the most popular trading platform in liquidity and volume in EUR exchanges. It operates worldwide, as well as the US.

Kraken provides a wide range of coins like Bitcoin Cash, Ethereum, Monero, Augur, Litecoin and numerous others. It also accepts withdrawals and deposit transactions through bank transfers as well as cryptocurrencies. It has a sluggish users interface has performance and stability issues, but it’s an excellent option for cryptocurrency exchanges.

Bitfinex

Bitfinex is the most popular trading platform for cryptocurrency. The platform was established in 2012, and is user-friendly interface, and comes with a range of options, including margin trading, margin financing and margin funding. It’s available for both iOS and Android platforms. It provides BTC, BCH, ETH, LTC, IOTA, XMR and NEO.

Similar to the earlier cryptocurrency exchanges, Bitfinex supports withdrawals made using US dollars or Euros using bank transfer. Bitfinex has been the victim of two security breaches. The first occurred in May 2015, and resulted in the cost of 330,000. It was followed by another one in August 16, 2016 resulted in a loss around $72 million.

EtherDelta

EtherDelta is an uncentralized exchange that allows peer-to-peer connections. It’s quite different from the previously mentioned cryptocurrency exchange platform. The funds are stored in a smart-contract on the Ethereum network that you are the sole responsible to deposit and withdraw funds from. At present, EtherDelta only supports Ehtereum tokens that are based on Ethereum.

EtherDelta is a confusing interface, making it challenging for users to conduct transactions for exchange of cryptocurrency. One time, a person attempted to purchase 775 Kyber for 0.007 ETC each. However, they ended up purchasing 0.007 KNC at 750 ETH.

Conclusion

When we look at the different platforms for trading in cryptocurrency We can confidently declare it is Coinbase and Bitstamp stands out because of its excellent features, such as security, user-friendly interface, multiple withdrawal/transfer methods, and many more.

They aren’t perfect , but I would suggest that it’s the safest choice you could make. Each exchange platform for cryptocurrency is distinctive in their own ways and comes with advantages as well as disadvantages. It is up to us to choose the one that best suits our requirements. We hope that this article on the fundamentals of crypto currency trading and exchange would provide you with a good to begin your journey into cryptocurrency trading.