Introducing the top 5 crypto exchanges in the world
Investing in cryptocurrencies and buying and selling them can be a daunting task for newcomers. We have heard many times in the news about various scams and the loss of people's capital. Although this assumption is somewhat true, and we have witnessed these events in the past, starting to invest in the field of cryptocurrencies has been easier and safer these days.
The most important concern for traders and those who want to invest in Bitcoin and other cryptocurrencies is security. No one likes to lose even a small portion of their assets due to fraud and hacking. On the other hand, although the provision of this security depends, to a large extent, on crypto exchanges, we, as those who have the right to choose, can minimize this risk by choosing the best and most reputable exchange offices.
Therefore, in this article, we will introduce the top 5 crypto exchanges of cryptocurrencies in which a large volume of transactions in this field are done daily.
Binance Exchange, also known as Binance by some Iranians, was established in 2017 and was able to introduce itself as one of the best crypto exchanges with its facilities and innovations. The exchange, which focuses on buying and selling Altcoins, supports more than 300 cryptocurrencies other than Bitcoin. It goes without saying that it is possible to trade the currency code directly with Fiat money, such as the Euro, but their number is small. Binance is currently the largest crypto exchange in which, except in certain countries, everyone from all over the world can buy and sell. In fact, Binance is so popular that a large part of the daily volume of crypto transactions is done on this platform.
This exchange is also very popular among Iranians. Although Binance does not provide services to Iranian users due to US sanctions, many experienced traders still buy and sell using authentication methods such as VPN or VPS.
Coinbase, the most widely used exchange in the United States, was established in 2012 in the United States and is fully compliant with US financial laws and regulations.
Because the crypto market is full of anonymous currencies with an uncertain future, some of which are scams, Coinbase has decided to focus on known currencies. For this reason, only the possibility of buying and selling 46 currencies is provided in this exchange, which is very low compared to Binance. In addition, the Coinbase user interface is designed to be quite simple and newcomers can easily operate in it.
Of course, for those looking for more advanced features from other exchanges, Coinbase also has a professional section called Coinbase Pro. In this section, you can use additional features such as more charts, different and dynamic fee structure, etc. It should be noted that Coinbase Pro is available to users for free and there is no need to pay for it.
‘Kraken’ is another popular exchange, especially among European users, founded by Jesse Powell. Until 2014, this exchange was able to introduce itself as one of the reputable exchange offices, but a few years later, in 2017, it faced problems that lasted for several months. However, Kraken was able to regain the trust of users.
Kraken Exchange allows its users to trade 60 cryptocurrencies, that is a bit more than Coinbase, but it is still a long way from Binance. In addition to these cryptocurrencies, there is the possibility of trading the currency code with Fiat currency, which includes US Dollars, Japanese Yen, Canadian Dollars, British Pounds, Euros, Swiss Francs and Australian Dollars.
Kraken has the highest daily trading volume among European users and the Euro currency. Another advantage of this exchange is its low fees compared to other exchanges.
Founded in 2016, Bittrex was once considered the safest crypto exchange. Although the exchange has not yet been the victim of sabotage attacks, its history is not without its dark spots. In 2019, many users reported that their assets had been confiscated by Bittrex and that they had only two weeks to withdraw their currencies from the exchange.
Bittrex is now well-known among users. In addition, it is possible to trade more than 324 different cryptocurrencies in this exchange, which puts it higher than exchanges such as Binance. Another point to keep in mind about Bittrex is that its free rate is higher than other exchanges in the beginning. However, with trading and reaching the 30-day limit, this figure decreases significantly.
The last exchange we are introducing today is the Bitfinex exchange. This exchange is considered as one of the most advanced crypto exchanges in the world due to its many facilities. This is why we do not recommend using this exchange for newcomers and inexperienced people.
Bitfinex is one of the exchanges that has been attacked and robbed in the past. In 2016, this unfortunate incident happened for this exchange, but fortunately, the company was able to return all damages to its users.
More than 140 cryptocurrencies can be traded at Bitfinex. In addition, Fiat currencies support the US Dollar, the Japanese Yen, the British Pound and the Euro. At the time of writing this article, Bitfinex is the fifth best crypto exchange on the popular Coin Market Cap site, which provides statistics in this area.
Finally, it should be noted that there are many exchanges for investing in cryptocurrencies and buying and selling them, each of which is popular among a certain segment of the world's population. For example, as mentioned, Americans prefer to trade in Coinbase, while Europeans prefer Kraken, and Asians and others also commonly use Bitfinex and Binance.
If you are looking to choose a good international exchange to continue your investment, you should also pay attention to other points such as the number of supported cryptocurrencies and the daily trading volume of that exchange.
In this article, we tried to introduce five of the best exchanges, which due to the large number of such exchanges, there were certainly other cases that were not included in our list. However, there is no reason not to recommend their use. It goes without saying that reputable Iranian crypto exchanges have emerged in recent years, which can meet the needs of new and inexperienced users.
Description: Introducing the top 5 exchanges in the world for trading cryptocurrencies
Summary: There are many reputable crypto exchanges operating around the world, and in this article, we have introduced 5 of them to you.