Bitcoin exchange or cryptocurrency for that matter refers to the primary exchange between business men, allowing their customers to trade the same or other assets, such as conventional fiat money or other digital currencies. Bitcoin/ cryptocurrency exchange support countries, and also accept payment methods, fees, look for privacy, limits, liquidity, reputation, speed (delivery of coins), customer support, and any past issues. With the usage of bitcoin and bitcoin wallets in abounds, the exchange between the same too becomes a priority and therefore, nothing but the best and the safest medium/measures should be considered.
Given below are means by which money and digital currencies can be transferred electronically as an online business!
CoinDCX is an Indian cryptocurrency exchange which acts as a safe and secure platform offering crypto-to-crypto trading between over 30 crypto trading pairs. Moreover, CoinDCX is the most trusted cryptocurrency exchange in India owing to its massive liquidity, powerful wallet, and a full-proof security. All of these features further make it efficient and the trading experience extremely fast, reliable, and effortless.
Furthermore, CoinDCX has enabled its business men to trade with a bunch of industry-first products, thereby making the trade better in terms of liquidity, considering the world’s top-most exchanges. The products are made as per the needs and usage of the traders, keeping in mind their trading experience, risk tolerance, and trading frequency.
Unoax is an Indian cryptocurrency exchange too. Unodax, much like other Indian cryptocurrency exchanges, prohibit the exchange of cryptocurrency between US-investors (likewise, no other trader without an Indian phone number). Unodax’s trading fees for takers are 0.60%. This fee is indeed above the industry average. However, the exchange does also offer a discount to makers, who trade at a fee of 0.40%. Cle3arly, Unodax rather specify the taxes to be levied upon your purchase (apparently 18% in Indian General Sales Tax on the transaction fee). Unodax charges a withdrawal fee that amounts to 0.0002 BTC when you withdraw BTC. This is somewhat 75% below the industry average, the industry average being around 0.0008 BTC per BTC-withdrawal. Therefore, the withdrawal fee charged by this exchange is truly very competitive.
Security is important. Any exchnage details their encryption on their website. That is to say, the address-private key pairs receive a AES-256 encryption “sealed in envelopes and stored in multiple safe deposit lockers”.
Binance is a cryptocurrency exchange that provides a platform required for further trading various other cryptocurrencies. Well, Binance was the largest cryptocurrency exchanges in the world till January 2018, in terms of trading volume. Binance was found by Changpeng Zhao, a developer who is much known for having created a high frequency trading software. Binance has since then announced that it will stop serving U.S. individual and corporate customers on its main platform.
However, let’s not forget that Binance is one of the most secure exchanges in the market at this point. Not only are their wallet services secure and safe, but also their transaction fees are quite low as well.
It’s a Hong-Kong-based cryptocurrency exchange platform. KuCoin has one of the world’s most amazing trading pair selections, which include more than 300 trading pairs. Not to mention, the exchange provides you with the most advanced API on the market. KuCoin also doesn’t charge varying fees between the creators and the users. The exchange rather has a so called “flat” fee model. They offer a flat trading fee of 0.10%, which is below the global industry average. And the global industry average is somewhat “around 0.25%”.
KuCoin’s security score is D+, as claimed while performing the test at Observatory by Mozilla.
Poloniex is for all those who want an excellent option in terms of a reliable exchange with an industry-leading number of cryptocurrency pairs and additional features, such as margin trading. Not to mention, that Poloniex is safe to use. Meanwhile, United States-based crypto exchange Poloniex is distancing from the limited circle to form a new exchange that will not support trading for customers in the US.
Kraken is indeed a worthy option to consider owing to its convincing security features and low transaction fees. However, it’s not the best option for beginners due to its more complex interface. Some of the commendable features of it include- high liquidity, industry leading security measures and 24/7 live customer support. Kraken also holds full reserves of their customer funds. Kraken employs an independent, cryptographically-verified audit in order to ensure third parties and the exchange’s customers regarding the proper handling of the funds.
Bittrex is a global leader in the blockchain revolution. It basically operates the premier U.S.-based blockchain trading platform, primarily designed for customers in demand for lightning-fast trade execution, dependable digital wallets, and industry-leading security practices. Although Bittrex is one of the most secure exchanges, users can still lose funds.
LocalBitcoins is a man-to-man bitcoin marketplace based in Helsinki, Finland. Its service facilitates over-the-counter trading of local currency for bitcoins. All that has to be done, is the process where users post advertisements on the website, in order to state exchange rates and payment methods for buying or selling bitcoins.
In a nutshell, a bitcoin exchange is a digital marketplace meant for traders to buy and sell bitcoins to and from, using myriad fiat currencies or altcoins. A bitcoin currency exchange on the other hand is an online platform that acts as an intermediary between buyers and sellers of the cryptocurrency. The currency ticker used for bitcoin is either BTC or XBT.
Well, we seem to have summed it all up. Hope you make a wise choice from now on!