How to Choose the Right Exchange? Review of the Best Cryptocurrency Exchanges

If you exchange cryptocurrency quite rarely, then registration for such resources is not necessary. Ordinary exchangers are quite enough; the main thing is to choose reliable services. But if you want to buy and sell your digital assets quite often, then you cannot do without such an indispensable assistant, as a cryptocurrency exchange. What criteria should they be selected by and which exchanges are included in the TOP of the most reliable and popular among experienced traders? Content: (please, click the topic to scroll down to it)

1. Criteria for choosing exchanges
2. TOP 5 cryptocurrency exchanges
3. Conclusion

1. Criteria for choosing exchanges

Although the cryptocurrency industry is still too young, there are already enough services on the market. This is both good and bad. On the one hand, the creators of exchanges are in the context of tough competition, so they are interested in offering the best conditions for their clients. But, on the other hand, because of so many exchanges, a beginner trader may have a lot of questions about choosing the right solution. It should be understood that the only correct answer to the question: "Which exchange is better to trade with cryptocurrency?" does not exist. The Coin Shark has prepared for you a list of those criteria that you need to pay attention to before choosing one or another crypto exchange.

• Reliability of the cryptocurrency exchange

The vulnerability of cryptocurrency exchanges is the main drawback of the industry. Since the news about another large theft of digital assets spoils the big picture among the broad masses. Experienced traders and investors do not store a large percentage of their portfolio on exchanges. Choosing a trading platform for cryptocurrency assets everyone should pay special attention to its security and reliability. It is necessary to know how long the project has been functioning, the reputation of its creators, and also to get acquainted with the reliability rating that was assigned to each exchange by market experts. But even the biggest giants cannot give you 100% guarantee of safety of your coins.

• Daily trading volume

This indicator is one of the keys, it shows loyalty and the number of users of the site. Also with the help of this indicator, it is possible to assess the presence or absence of hype for a certain trading pair, which will allow predicting the further movement of the exchange rate.

• Input / withdrawal of funds and fees

Every single site has its own rules, methods, fees, and limits on the input and output of assets. It is very important to read them before registering. For example, high fees can "eat" the lion's share of earnings from trading. This is especially true if your trading strategy involves trading within a day with a large number of orders. On some exchanges, there is no physical possibility of entry and exit using fiat, which may not be a very convenient solution for a certain percentage of traders.

• Number of trading pairs

This indicator can vary significantly depending on the exchange. On some, even on fairly large sites, only USD / BTC can be found so far. Therefore, for many traders, the answer to the question: "Which cryptocurrency exchange is better?" will be extremely simple – that one where the choice of trading pairs is calculated at least by tens, or better by hundreds.

• No need for third-party software

The overwhelming majority of large official cryptocurrency exchanges do not have additional scripts that need to be installed on the computer.

2. TOP 5 cryptocurrency exchanges

We talked about the criteria that should be paid attention to the choice of a particular site. It's time to discuss the real-world cryptocurrency exchanges which are the undisputed leaders in the market:

1. Binance

• reliability rating - high;
• daily trading volume - about $1.5 billion;
• commission fee for an indent (one transaction) - 0.1%,
• output - no more than 100 BTC per 24 hours;
• replenishment - cryptocurrency wallet;
• the number of trading pairs is more than 200.

2. Bittrex

• reliability rating - high;
• daily trading volume - about $145 million;
• commission fee for an indent (one transaction) - 0.25%,
• output - no more than 100 BTC per 24 hours;
• replenishment - cryptocurrency wallet;
• the number of trading pairs is 906.

3. Kraken

• reliability rating - high;
• daily trading volume - about $237 million;
• commission fee for an indent (one transaction) - 0.26%,
• output - no more than $ 50 000 for 24 hours;
• replenishment - cryptocurrency wallet, bank transfer;
• the number of trading pairs is 59.

4. Poloniex

• reliability rating - medium;
• daily trading volume - about $65 million;
• commission fee for an indent (one transaction) - 0.25%,
• output - no more than $25 000 for 24 hours;
• replenishment - cryptocurrency wallet;
• the number of trading pairs is 365.

5. Bitfinex

• reliability rating - medium;
• daily trading volume - about $ 890 million;
• commission fee for an indent (one transaction) - 0.2%,
• output - there is no limit;
• replenishment - cryptocurrency wallet, bank transfer;
• the number of trading pairs is 35.

3. Conclusion

As always, there is no single correct solution for all. All the sites have their own peculiarities and nuances. We gave a rating of the best cryptocurrency exchanges and disassembled each of them according to especially important criteria. Of course, the Binance exchange is a few steps higher by all criteria against the background of other competitors. But, of course, only you should choose a site according to your own criteria. Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/