Cryptocurrency, Cryptocurrency Exchange

Top 7 Cryptocurrency Exchange Platform

The list of top seven cryptocurrency exchange platforms are explained below:

LEVELTEN TOP 7 Cryptocurrency Exchanges

1. BINANCE

Founded: 2017

Founder: Changpeng Zhao

Tradeable Coins: 130

Trading Volume 24 hrs: $925,765,420

Fiat Currencies: Not Accepted

Credit Card Payments: NO

Fees: $1000 bitcoin costs $1 in fees; 0.1% trading fee.

Margin Trading: NO

Short Selling: NO

Website: https://www.binance.com/en

Binance is a cryptocurrency exchange and it is the world’s biggest cryptocurrency exchange platform. It provides services in cryptocurrency exchange, wallet, Labs, etc as stated by the CEO and Founder – Changpeng Zhao. Binance platform was basically based in China, but it moved its operations to Malta recently. Binance is a crypto-to-crypto trading platform, meaning it does not feature support for fiat currencies.

The crypto exchange has its own coin called Binancecoin (BNB) which gives a discount for users when they make transactions with crypto-to-crypto payment. Binance supports over 130 tradeable cryptocurrencies and is one of the best crypto exchanges to buy cryptocurrencies.

Unlike with other cryptocurrency exchanges, Binance lets users choose the interface with two different trading user interfaces (UIs). The exchange provides ‘basic’ and ‘advanced’ the users find difficulty in using the UIs because both of these UIs are a little more complex than other popular crypto exchange UIs.

If the users want to get started with Binance, then they need to register themselves with email ID and the process is simple and quick. Besides, the users get 1 QTUM coin as a kind gesture for registration with the Binance and are limited to 10,000 QTUM coins on first come first serve basis.

Binance is one of the few cryptocurrency exchanges that offer a mobile app for iOS and Android users. The limitation of Binance is that users’ currently can’t use fiat and they can’t short sell or margin trade.

2. COINBASE

Founded: 2012

CEO and Founder: Brian Armstrong

Tradeable Coins: N/A

Trading Volume 24 hrs: N/A

Fiat Currencies: Yes, Accepted

Credit Card Payments: Yes

Fees: Usually $1000 worth of bitcoin costs $14.90 in fees; Purchase fees 1.49% to 3.99%

Margin Trading: NO

Short Selling: NO

Website: https://www.coinbase.com/

Coinbase was founded in 2012 and it is based in San Francisco. It is one of the most popular cryptocurrency exchange which is backed by trusted investors and has a million users globally. Coinbase was the first startup to earn a ‘unicorn’ status for a crypto exchange with it’s $1 billion valuations.

Coinbase is a cryptocurrency wallet and platform where traders and consumers can transact with cryptocurrencies like bitcoin, ethereum,litecoin and more. The Coinbase trading platform is available in more than 32 countries including the U.S, Europe, Singapore, Canada, Australia, etc and has a user base of over 4 million.

For beginners, Coinbase is simple to use with a friendly user interface (UI). It is easy to buy coins through the wallet or exchange through GDAX, which is a sister exchange of Coinbase. The Coinbase wallet is available for both Android and iPhone users which is popular among users.

Coinbase users can choose various methods to buy or sell cryptocurrencies. The cryptocurrency exchange allows users the option to pay either through credit card, PayPal or bank transfer.

3. KRAKEN

Founded: 2011

Founder: Jesse Powell

Tradeable Coins: 20

Trading Volume 24 hrs: $93,282,362

Fiat Currencies: Yes, Accepted

Credit Card Payments: NO

Fees: $1000 bitcoin costs $2.60 in fees; Maker/taker fees 0% to 0.26%

Margin Trading: Yes

Short Selling: Yes, up to 5x on Bitcoin

Website: https://www.kraken.com/

Jesse Powell founded Kraken in 2011, is one of the largest bitcoin exchanges for its popular section of fiat to cryptocurrency exchange including USD, Pound, Euro, Yen, etc. It supports over 20 cryptocurrencies with a maker or taker fee of 0% to 0.26%.

It is also the largest euro-denominated cryptocurrency exchange platform in the world, as per the exchange’s daily trading volume.

Kraken is supported by user deposits from Europe, England, Japan, Canada and the United States. Deposits to Kraken are made by either through SWIFT payments, SEPA, bank wire transfer or through bank deposits (only for Japanese customers). The exchange is widely trusted and is highly evaluated for security.

The exchange platform also has a low taker fee of 0.25%; moreover, this can come down as low as 0.1% with high trading volume. The maker fee is also low and can reach 0% if the trading volume is high.

But, there are some drawbacks to Kraken, the UI may not be suitable for first-time buyers of cryptocurrency. It also asks users to show their ID in order to confirm their account.

4. BitMEX

Founded: 2014

Founders: Ben Delo, Samuel Reed and Arthur Hayes

Tradeable Coins: 8

Trading Volume 24 hrs: $1,530,828,863

Fiat Currencies: NO

Credit Card Payments: NO

Fees: Maker/taker fees 0.05% to 0.25%

Margin Trading: Yes

Short Selling: Yes

Website: https://www.bitmex.com/

BitMEX is a premier Bitcoin exchange platforms across the world, based out of Hong Kong. HDR Global Trading Limited founded the exchange in the year 2014. As the name, BitMEX suggests Bitcoin Mercantile Exchange is a crypto trading platform for Bitcoin which is the largest cryptocurrency by market capitalization.

BitMEX has processed around $35 billion worth of Bitcoin since its inception. However, what actually sets BitMEX apart from other exchange platform is the site’s unique features. BitMEX features margin trading, which indicates that users can trade crypto with support on the platform.

BitMEX also allows crypto traders to turn bear markets into a profitable investment opportunity through short selling. Although short selling is, as always, a probably dangerous undertaking, it allows users to benefit from crypto price falls.

Users who want to create an account on BitMEX will first be asked to register on the website. It only requires users’ email id, and the user registering is at least 18 years old.

But, BitMEX does not accept any US-based traders. In fact, the site allows users to trade cryptocurrencies against the fiat currencies like the US dollar, Yuan, and Yen.

BitMEX supports Bitcoin, Bitcoin Cash, Ethereum, Ripple, Monero, Litecoin, Dash, Ethereum Classic, Zcash and Tezos. Although the platform is quite appealing, it is not certain for cryptocurrency beginners.

5. OKEX

Founded: 2014

Founder: Star Xu

Tradeable Coins: 60 +

Trading Volume 24 hrs: $976,548,285

Fiat Currencies: Yes, Accepted

Credit Card Payments: NO

Fees: typical $1000 bitcoin costs $2; Maker/taker fees 0.02% to 0.2%

Margin Trading: Yes, 3x, 10x, and 20x

Short Selling: Yes

Website: https://www.okex.com/

OKEX is one of the most popular cryptocurrency exchange based out of Hong Kong. The exchange supports more than 60 cryptocurrencies and the exchange also has its own cryptocurrency OKB.

OKEX is the third largest cryptocurrency exchange in the world in terms of volume and has lately relocated to Malta. OKEX is available in most of the countries that do not regulate their citizens from trading platforms or nations that are on the UN’s Security Council Sanctions List.

The crypto exchange offers multiple trading instruments. Since OKEx favors heavily towards more professional crypto investors, it makes a less than ideal choice for the ones who are just getting into cryptocurrency trading.

The process to register an account on OKEX is relatively simple. The platform also offers different verification levels, with various requirements and feature. Users who are confirmed with Level 1 verification will have to provide their country of origin, username, and ID number. Level 1 verification will allow users to trade with a daily transaction limit of $2,000. There are Level 2 and Level 3 for more professional crypto traders.

OKEX has maker and taker fee about 0.02% to 0.2%. It is not far left behind when it comes to trading per day; it has experienced around $1.5 million in bitcoin every day.

6. HUOBI

Founded: 2013

Founder: Leon Li

Tradeable Coins: 50 +

Trading Volume 24 hrs: $604,837,674

Fiat Currencies: Yes, Accepted

Credit Card Payments: NO

Fees: $1000 bitcoin costs $2 in fees; Maker/taker fees 0% to 0.2%

Margin Trading: Yes, but for Huobi Pro users only.

Short Selling: Yes

Website: https://www.huobi.com/

Huobi is a Singapore-based cryptocurrency exchange founded by Leon Li in 2013. It is a long-time favorite crypto exchange platform in the Asian markets. In addition to its Headquarters in Singapore, Huobi has offices in Japan, Hong Kong, South Korea and the US.

Although, Huobi has faced some obstacles related to US regulations. It operates in more than 130 countries.

Crypto traders (users) who want to register with Huobi are asked to supply their nationality, email id or telephone/mobile number. The user should verify the entered email id; only then the user will be able to buy cryptocurrency.

Huobi has two different versions namely Huobi OTC (allows trading of cryptocurrencies with fiat currencies at zero fees) and Huobi Pro (for advanced trading capabilities). Huobi is coming up with a cryptocurrency exchange traded fund (ETF) which is to be named as HB10.

The platform also offers an extensive overview of the cryptocurrency market. All maker and taker fees on Huobi range from 0% to 0.2%. The main drawback of Huobi site is, it is not user-friendly.  

7. GEMINI

Founded: 2014

Founder: Tyler and Cameron Winklevoss

Tradeable Coins: 4

Trading Volume 24 hrs: $18,019,506

Fiat Currencies: Yes, Accepted

Credit Card Payments: Yes

Fees: $1000 bitcoin costs $10 in fees;  Maker/taker fees 0% to 1%

Margin Trading: NO

Short Selling: NO

Website: https://gemini.com/

Gemini is a New York-based cryptocurrency exchange founded by Tyler and Cameron Winklevoss twins in 2014. Gemini has distinguished itself from other cryptocurrency exchanges by having a regulated approach.

The exchange features support cryptocurrencies like Bitcoin, Ether, and fiat currency US dollar. The platform is only available to customers in 42 US states, Canada, Japan, Singapore, Hong Kong, South Korea and the UK.

Deposits to the Gemini exchange can either be made through a traditional wire transfer, or an ACH or SEPA transfer. Besides, the platform usually processes wire transfers sent before 3:00 pm Eastern Time during the same day or the next business day.

Bank deposits are processed immediately. Moreover, these deposits are fully cleared by Gemini exchange and made available for withdrawal within four to five business days. In addition to this, the exchange also features some of the lowest fees in the US, with maker or taker fees ranging from 0% to 1%.

CONCLUSION

In this article, we have provided the top and best cryptocurrency exchange platforms wherein any crypto trader can choose according to the features of the exchange platform and start trading cryptocurrencies.


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