Best Crypto Exchanges: Top 10 by Reviews - Money Blog

Best Crypto Exchanges: Top 10 by Reviews

Best Crypto Exchanges

If you want to learn more about finance through a new specialization known as cryptocurrencies, you will need to engage with one or more cryptocurrency exchanges. Coinmarketcap reports that this platform now tracks 304 spot trades with a 24-hour cumulative volume of $214.18 billion. This goes to show how much everyone seems to want cryptocurrency these days. This article reviews the 10 best crypto exchanges on the market right now,

WHAT IS A CRYPTOCURRENCY EXCHANGE?

  • CENTRALIZED EXCHANGES (CEX)

CEX are the best known and most traditional crypto exchanges. Crypto exchanges can be centralized, which means that they are managed by a single legal entity, such as a brokerage firm that provides security for the exchanges. CEX is a centralized platform where buyers and sellers meet, which means someone manages and is responsible for your cryptocurrency. Binance, Coinbase, Houbi and others are good examples.

  • DECENTRALIZED EXCHANGES (DEX)

DEX is essentially a service platform that connects buyers and sellers of tokens who want to trade them. Unlike traditional CEX, smart contracts and decentralized applications are used to automate transactions and exchanges. Examples are Pancakeswap, Uniswap, Sushiswap, Babyswap and other similar terms.

Recently, hybrid cryptocurrency exchanges have tried to meet the needs of those mentioned above. They combine the fast transaction speeds of centralized platforms with the security assurance provided by private key keeping.

WHAT YOU NEED TO KNOW BEFORE CHOOSING AN EXCHANGE

Many considerations are put in place before choosing an exchange of choice, based on the historical aspect of the cryptocurrency market as a whole, especially cryptocurrency exchanges:

1.AUTHENTICITY AND SECURITY:

The cryptocurrency market has been plagued by a host of frauds and even exchange hacks, resulting in the loss of hundreds of thousands of dollars. Taking the time to thoroughly investigate before committing pays off in terms of reducing risk.

2.TRANSACTION FEES:

You have the option of choosing a platform with fixed transaction fees or a platform with a more flexible structure. Either way, cutting costs to keep your profits healthy and more importantly eliminating trading headaches should come with reasonable transaction fees, as the different platforms charge differently.

3.USER INTERFACE AND EXPERIENCE:

Many exchanges, such as Binance, are considered beginner-friendly, but others, such as Bitfinex, are a professional exchange for trading. However, user experience is subjective and different interfaces cater to different people. It is easier to trade cryptocurrencies on an exchange with a user-friendly interface and a positive user experience.

List of Best Crypto Exchanges with Lowest Fees

  1. CoinSmart
  2. PrimeXBT
  3. FixedFloating
  4. change now
  5. Binance
  6. App Cash
  7. Bisq
  8. kraken
  9. ittrex
  10. Coinbase
  11. Trading area
  12. CEX.io
  13. eToro