How to Choose the Right Exchange? Review of the Best Cryptocurrency Exchanges 1030

exchange

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:
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  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.

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Are Nasdaq and Gemini More Than Partners? 156

nasdaq and gemini are uniting

The representatives of crypto exchanges Gemini and Nasdaq had a closed meeting during which they discussed the possible cooperation in the future.

However, it turned out that the cooperation is too weak of a word in this situation, the exchanges might become a joint venture. This will be beneficial for both of the exchanges, since they will become more liquid and will be able to list more digital coins.

The information came from an anonymous source. He/she stated:

Nasdaq and Gemini have gotten very, very comfortable with each other.”

We would like to remind you that there were rumours that the Winklevoss brothers tried to bribe authorities to get an approval for Gemini.

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Ripple Is Partnering Up With Bittrex and Two More Exchanges 177

ripple adds three crypto exchanges

The project Ripple has recently been very active in terms of cooperation. Not so long ago it invited Bill Clinton as a speaker for their conference and helped Madonna with her charity campaign. This time it announced about the partnership with 3 crypto exchanges.

Bittrex (The United States)

– Bitso (Mexico)

– Coins.Ph (The Philippines)

https://twitter.com/CoryTV/status/1030093091410247680

According to the chief marketing strategist of Ripple, those exchanges were chosen due to the efficient amount of XRP tokens on their accounts.

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OKEx Will Delist 28 Cryptocurrency Pairs 754

okex delists crypto pairs

On carrying out thorough monitoring, the team of the crypto exchange OKex announced the delisting of 28 trading pairs.

On August 17, 2018, the following cryptocurrencies will be excluded from the listing of the platform:

USDT Market: LA, READ, SNM

ETH market: UTK, WRC, QVT, SAN, UBTC, DNT, OAX

BTC market: UBTC, BCX, BT2, WBTC, UKG, LA, SAN, ATL, REQ, BRD, SNM, VEE, TIO, REF, UTK, WRC, QVT, DNT

The developers of the exchange plan to continue delisting low-quality projects in the future.

We remind you that OKEx announced that it would pay $460 million to cover unforeseen losses of traders.

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A Review of the Odyssey Project or How to Transfer the Sharing Economy into Blockchain? 910

According to many experts, in the next couple of decades humanity will switch to the economy of general use (or sharing). This will concern many things that are accepted today (car, real estate, etc.). Within the framework of this article, we will tell you how this, not yet implemented common-use economy can be transferred to the blockchain. So, the review of the Odyssey cryptocurrency.

Contents:
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  1. What is the Odyssey cryptocurrency?
  2. Odyssey in figures
  3. Forecasts
  4. Conclusion

1. What is the Odyssey cryptocurrency?

The main mission of the project is to combat the centralized sharing economy. In the near future, as the developers themselves assure, joint use will be quite ordinary, and personal possession, on the contrary, will become an unacceptable luxury. That is, within the framework of this economic model, You will not personally have anything, but You will be able to use what you want. Such an approach should lead mankind away from the consumer society and substantially raise the overall level of well-being.

This project comes from Singapore; its main idea is the creation of a decentralized version of the economy of the future, which will be oriented towards the common use of various things. The developers want to significantly reduce costs and increase the efficiency of marketplace applications, as well as create their own Odyssey system.

The main consultant of the project is the general director of TRON Justin Sun. Major Odyssey investors are:

  • Eddie Wu, Alibaba’s co-founder;
  • investment trust Vision Plus Capital;
  • TRON Foundation, etc.

The main principles of Odyssey:

  • everything can be combined and shared;
  • everyone has the right to possess information;
  • all participants in the system can count on income, which will depend on their initial contribution;
  • there should not be a monopoly in the sharing economy;
  • the new economic model will be effective only if it becomes autonomous.

Summarizing, we can say that the Odyssey system is a kind of marketplace for sharing, based on blockchain technology.

2. Odyssey in figures

This coin appeared relatively recently, only in early 2018. If you look at the chart, you can see that Odyssey’s currency exchange rate has significantly decreased from $0.09 to today’s $0.003.

The total issue is 10 billion tokens, now 4.75 billion are issued. Market capitalization as of mid-August 2018 is slightly more than $17 million. The coin takes the 244th place in the global rating of CoinMarketCap.

3. Forecasts

The Odyssey (ocn) cryptocurrency is now showing a negative yield, it is, to a large extent, related to the general trend in the market. It is rather difficult to predict the price of cryptocurrency in such conditions. Nevertheless, this project is potentially promising for the following reasons:

  • developers follow the schedule written in the project road map;
  • in the future, it is planned to create its own stock exchange;
  • the team actively works on the project, periodically consults the community through polls, voting, etc .;
  • the Odyssey project is closely connected with TRON, which ranks 12th in the rating of all cryptocoins;
  • economy of common use is the vector where the movement of mankind has already begun.

4. Conclusion

If you plan to invest in Odyssey, you should count on a long time, because the project is still too young and for its development there is still a lot to do. The sharing economy is also not tomorrow and not even in a year will become the norm, so that the global Xs in the near future should not be waited for. Also do not forget about diversification of your investment portfolio, this will significantly reduce the risks of a complete loss of capital. The Coin Shark continues to monitor the news of the cryptocurrencies and look for new promising projects.

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Is It Safe to Use Crypto Exchanges and Wallets in 2018? 523

crypto exchanges are not reliable

The cases of hacker attacks aimed at major cryptocurrency exchanges and various scams are getting more and more frequent. A lot of experts in this field start seeing an ongoing tendency in this. So why are many cryptocurrency holders losing trust in digital wallets and exchanges?

Firstly, we all remember the strange story with the bounty campaign of John McAfee’s wallet Bitfi, during which nobody received the promised $250k. Secondly, one of the largest crypto exchanges Bithumb was hacked not so long ago with the losses of about $30 million. The list goes on and on.

Encrybit conducted a thorough research of the issue and conducted a survey. According to it:

40% of participants said that security is a major concern.

Hopefully, the representatives of exchanges and wallets take this into consideration and upgrade their security systems and customer service so that the users can be sure their funds are well-protected.

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Algorithm of Action for Victims of Scam ICO 1226

scam ico

The market for initial placement of coins is saturated with fraudulent projects, which initially promise to “change the world”, but after receiving funding, they stop being in touch. There are, of course, those which simply are not able to fulfill their obligations, and the product for which the investors’ money was spent is not necessary for anyone. Some particularly brazen scammers removing their site, leave on it not quite censorship messages, as it was with the Lithuanian startup, which wanted to “bring the blockchain” into the vegetable and fruit industry.

In this article, we’ll talk about what you need to do in order to get your money back if you have already invested it in a fraudulent ICO.

Contents:
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  1. Is it real to return your money if you’ve invested in a scam ICO?
  2. What to do in the beginning? Collect evidence
  3. Who to sue?
  4. What do you need to know about the court?
  5. Conclusion

1. Is it real to return your money if you’ve invested in a scam ICO?

As practice shows, surely, there have been similar precedents in history, but to a greater extent they concern only the United States and Canada. For example, in 2017 on the initiative of the SEC, the founders of the scam project Munchen returned 15 million dollars to their depositors. Another example, the organizer of the cryptostart PlexCoin Dominic Lacroix was arrested, sentenced to 8 weeks of imprisonment, and fined personally for 10 thousand, and his company for 100 thousand dollars.

The Securities Commission is actively working in this field, but, unfortunately, outside of North America it is not yet particularly developed. For example, in the CIS countries no ICO scammers have been caught yet. But, despite this, there is still a chance to get your money back. Please read this material to know what to do in such an unpleasant situation.

2. What to do in the beginning? Collect evidence

So, unfortunately, you have already realized that you gave your money to criminals, what should you do? To begin with, you need to collect as much evidence as possible:

  • screenshots of correspondence in Telegram or other messengers;
  • copies of e-mails;
  • white paper and road map of the project.

If you personally talked on the phone with the organizers of the ICO, then you need to contact the provider to give you a printout of your calls. If you have a personal contact in offline, you must specify the place, date and time of the meeting. If this happened in a public place, it is likely that the fraudster’s face has got into the surveillance cameras.

3. Who to sue?

The overwhelming number of ICO projects has a similar structure. Often, in order to start the production and sale of digital tokens, the organizers register a special issuing company. As a rule, they are created in the Seychelles or the Cayman Islands or in Estonia and Singapore. Unfortunately, finding out data about an issuing company is a rather difficult task. The only place where you can find out which legal body is in charge of this project is an agreement to sell tokens or Token Sale Agreement.

But, it is worth noting that a registered issuing company cannot conduct operational activities, and it is even more complicated to find any information about who conducts it than about an issuing company. Of course, you can try to look for tracks through the project team, but if the organizers of the ICO have created a scam from the very beginning, then they hardly indicated their real names there. Most likely, charges will have to be raised against the issuing company.

4. What do you need to know about the court?

The good news for victims of fraudulent ICO is that there are virtually no “loopholes” in the world where financial criminals can remain in the shadows. Banks from different countries of the world cooperate with each other and transmit information about the movement of money; therefore, to hide a large amount of stolen money every year becomes more difficult.

The bad news is that defrauded investors can demand financial compensation only through local courts of the countries in which the issuing company is registered. Litigation is not a cheap pleasure:

  • Estonia – 7-8 thousand euros;
  • The Cayman Islands – 30-50 thousand dollars;
  • Singapore – 80-130 thousand dollars.

These figures do not include government fees and other related costs. In order for “battle to worth the blood,” the amount of lost funds must significantly exceed the costs associated with the court. An alternative way to save money in this matter is to file a collective claim. For this it is necessary to collect in one place a certain number of the same deceived investors and to divide the costs equally.

5. Conclusion

There are a lot of scam projects on the ICO market, so it’s quite difficult for an investor who is starting not to get bogged down by criminals. But even if you have become a victim of swindlers, albeit low, but still there are the chances of getting your investments back. It is necessary to adjust to a lengthy lawsuit, which will also require financial injections from your side.

How to Spot a SCAM?

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