Cryptocurrency Exchange or Digital Currency exchange is a business that involves the exchange of cryptocurrency with other assets such as money or any other digital currency. It crypto exchange is a web service that provides electronic transactions in electronic forms and taking fees for them.
Any transactions or operations to Digital Currency exchange can be made through debit and credit cards, postal money order or any other kinds of money transfer. This article is about discussing the various cryptocurrency deals which facilitate crypto currency trading for newbies and what they offer in terms of availability, user friendly, security, deposit/withdrawal methods and fees. Hopefully you like this guide to cryptocurrency trading can help you get started with cryptocurrency deals.
Coinbase/GDAX
Coinbase is one of the biggest cryptocurrency deals situated in Frisco, California. It is available in 32 countries and currently serves over 10 million customers. Launched in 2012, it has a simple to operate slot that makes Digital Currency exchange an easy task for a non-technical person. It is also available for both iOS and Mobile. Unfortunately, Coinbase doesn’t provide crypto currency mining for newbies and is only an exchange.
Currently, it includes four coins, Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. It deals digital currency with us dollars, Euros and Great British Pounds. With minimum transfer fees, Coinbase hasn’t experienced any security breach so that it a perfect platform for digital currency exchange. Additionally, Coinbase has also a fully-fledged advanced exchange called GDAX. It includes more advanced features and different and better trading fees than Coinbase.
Bitstamp
Bitstamp is another platform that provides digital currency exchange. It is relatively easy to use and will be offering more advanced features via TradeView. Bitstamp offers coins such as Bitcoin, Litecoin, Ethereum, Bitcoin Cash and ripple. It deals digital currency with us dollars and Euro. You can practice all the latest crypto currency trading techniques in this exchange.
It includes Flat deposits via bank transactions and supports debit/credit cards. Possibly the only drawback one can find in Bitstamp is slightly high fees and the fact that it suffered one security breach in 7 years of its operation. Nonetheless, it is one the most reliable deals. It is available in both iOS and mobile.
Gemini
Gemini is a UK based company launched in 2015 by Winklevoss boy twins. It is available in few countries including You. S, Europe, Hong-Kong, Singapore and South Korea. One of the flaws to this platform is that it is not particularly easy to. So, beginners are not recommended to use this platform.
It includes two coins and 1 FLAT currency Bitcoin Cash, Ehtereum and US Dollars. Gemini follows strict protocols when it comes to security and as of 2018, it has not encountered a single security breach thus making it one of the most secure and reliable digital currency platform. However, it is important to have digital currency investment strategies before you start trading.
Digital Ticks
Digital ticks is a modern crypto exchange that aims to be a game changer in this sector. They have implemented many of the latest techniques so that it simple for anyone to get started with trading.
It has a unique feature called a single Past record View that would enable the traders to see all the holding positions on one single past record. It would be simple for traders to make informed decisions about the cryptocurrency exchange employing this unique feature. It also supports Bitcoin, Ethereum, Litecoin and Dashcoin.
Kraken
Kraken is one of the most well-known cryptocurreny exchange platform. Launched in 2011, kraken is the biggest exchange in terms of volume and liquidity for EUR trading twos. It serves worldwide including the US.
Kraken offers a variety of coins including Bitcoin Cash, Ethereum, Monero, Augur, Litecoin and more. It also supports deposit/withdrawals via bank transactions and cryptocurrencies. Having a not so friendly graphical user interface, it also suffers from stability and performance issues however, it is good platform for cryptocurrency deals.
Bitfinex
Bitfinex is the largest cryptocurrency exchange platform. Launched in 2012, it has a simple to operate slot and will be offering advanced number of features such as perimeter trading, perimeter funding etc. It is available for both iOS and mobile platforms. It includes BTC, BCH, ETH, LTC, IOTA, XMR and NEO.
Just like the previous cryptocurrency deals, it supports withdrawals using US dollars and Euros via bank transactions. Bitfinex has suffered two security breaches, the first one was in May 2015, which resulted in a loss of $330, 000. And the second one on September 2016 that resulted in a loss of worth $72 million.
EtherDelta
EtherDelta is a decentralized exchange that directly supports fellow to fellow connection. It is very distinctive from the previously discussed cryptocurrency updating platform. Here, funds are held in a smart contract on a Ethereum network which you are solely responsible for adding and extracting from. Currently, EtherDelta only supports Ehtereum based tokens.
EtherDelta has a rather confusing slot rendering it difficult for users to perform cryptocurrency exchange operations. In one occasion, someone tried to buy 750 Kyber for 0. 007 ETH each but finished up buying 0. 007 KNC at 750 ETH.
Conclusion
After looking at the various cryptocurrency updating platforms, we can safely say that Coinbase and Bitstamp excels in terms of its good features like security, easy to slot, multiple withdraws/transfer methods and more.
I would not call them perfect but I would recommend that it is the safest bet you can make. Every cryptocurrency updating platform are unique in a unique way and has both positives and negatives. We just need to select one that suits our needs. Hopefully you like that this guide on basic crypto currency exchange and trading would give you a head come from your journey of Cryptocurrency trading.