The crypto market is actively developing today. To trade it, special platforms on the Internet are used, which are called cryptocurrency exchanges
The crypto market is actively developing today. To trade it, special platforms on the Internet are used, which are called cryptocurrency exchanges. Earning money on such platforms is common. There are many interesting opportunities offered to clients.
Thus, cryptocurrency exchange scripts provide a large selection of different trading options. A trader can choose the optimal method in accordance with individual preferences and objectives. Many parameters are taken into account. The effectiveness of trading, the safety of the trader, and the level of his earnings depend on the correct choice. The operating features of each platform differ in the subject of trade and some other individually taken into account characteristics.
Main functions of crypto exchanges
The cryptocurrency exchange script implies the ability to buy, sell, and exchange coins.
A review of the best marketplaces serves as a general guide and highlights the features they offer and customer service.
Thus, the security, reliability of cryptocurrency exchanges, commissions – trading and for withdrawals, user experience, customer support, and much more are taken into account.
This guide provides options for sites that, according to experts, will be leading this year.
TOP crypto exchanges of the current year: what to expect
Experts name among the leading cryptocurrency exchanges of this year: Bybit, Coinbase, Kraken, Crypto.com.
Bybit
Launched in 2018. The commission structure here is multi-level, based on the “manufacturer-buyer” model. Levels include: non-VIP to Pro 3.
For non-VIP users, 0.10% commission for spot trading and 0.06% (taker), 0.01% (maker) commission for perpetual and futures trading.
For Pro 3, commissions are 0.02% – 0% respectively, and for derivatives trading they are 0.03% – 0% (maker).
Cryptocurrency exchange script: offers trading with leverage up to 100X on derivatives crypto products. Clients can also use isolated margin and cross margin. They have access to leveraged tokens. inverse perpetual contracts, crypto options, crypto futures.
Gemini
It is considered the best crypto exchange for security. Founded 10 years ago by the Winklevoss twins: Tyler and Cameron. The platform is known for its focus on regulatory compliance.
The trading platform is designed for cryptocurrency investors of all experience levels. It has a basic version for beginners, an ActiveTrader platform designed for more advanced traders.
Among the obvious advantages are:
- assets secured by insurance of digital coins;
- easy to use mobile application.
The platform supports more than a hundred cryptocurrencies.
Coinbase
Considered the best for newbie crypto traders. One of the most popular, known for its user-friendly interface. Unlike other cryptocurrency exchanges, Coinbase has never experienced a hack in its entire history. The platform offers great features for new investors, including simple learning modules that allow users to earn free cryptocurrency.
Coinbase has been criticized for high fees for some transactions. But among the obvious advantages of this trading platform is the opportunity to:
- buy, sell, trade more than 250 cryptocurrencies;
- earn crypto for free using Coinbase Learn.
Simple and advanced trading options are available here.
Kraken
The Kraken is a p2p crypto exchange script with trade functions. It is considered to have low fees and is the best option for experienced traders.
This trading platform was founded 13 years ago in San Francisco. This crypto exchange is one of the oldest and largest in the corresponding market. Kraken offers unique features: margin trading and derivatives trading. 24/7 customer support is provided here.
Other benefits of Kraken include:
- low commissions (only 0.16%);
- supports more than 150 cryptocurrencies;
- you can top up your account even from a bank card;
- possibility of transactions in fiat.
The presence of mobile applications is also important.
Crypto.com
This cryptocurrency exchange is considered the best option in terms of ease of use and crypto debit cards.
The goal of Crypto.com is to simplify the process of buying and selling cryptocurrencies. This platform focuses on creating an intuitive mobile app designed to make it easier to buy and sell cryptocurrency on the go.
Among other things, Crypto.com is known for its generous cryptocurrency credit card rewards. If a user stakes CRO (Crypto.com’s cryptocurrency) when using their card, they can earn rewards of up to 5%. There are up to 250+ cryptocurrencies available here.
Which cryptocurrency exchange is the best?
Choosing the right platform for your needs depends entirely on your personal requirements. So, a professional trader will need a reliable trading interface, in which case either Gemini or Kraken can provide the necessary tools. However, new or casual crypto investors can benefit from the simple and streamlined trading interface offered by the likes of Coinbase.
Crypto exchange centralized and decentralized
Centralized platforms act as intermediaries, facilitating trade. Such platforms use order book technology to match buyers and sellers and allow transactions to be completed quickly and smoothly.
Decentralized exchanges allow users to stake their own crypto in a liquidity pool to facilitate trading. For example, you can put your ETH and Bitcoin into a pool and receive transaction fees when users trade between the two cryptocurrencies.
Centralized exchanges often have a friendlier user interface and are more strictly compliant with regulations than their decentralized counterparts. However, the latter are not subject to KYC requirements.
If you intend to start working with one or another type of crypto exchange, you can familiarize yourself with the list of leading ones for the current year.
Among the decentralized platforms:
- ApeX Pro;
- ApeX Dex Bybit;
- dYdx;
- OKX Web3.
In all these cases there is support – an order limit. The commission is up to 0.05%. Except for the last site. Here the commission varies.
Examples of centralized cryptocurrency exchanges: Huobi, Bitmex, Binance, Yobit. Not all of them require verification.
Conclusion
The number of cryptocurrency exchanges is constantly growing. Each of them has its own pros and cons.
There aren’t many reasons to recommend exchanges other than the biggest ones. Crypto trading has always been and remains to this day an extremely opaque and risky industry. It largely exists outside of the regulatory framework.
Many crypto exchanges have gone bust in the past. And this trend is unlikely to change in the future.
Although larger exchanges are also not immune from insolvency, like smaller ones, the likelihood of bankruptcy of the former is certainly lower than that of the latter. Larger exchanges like Binance.US, Kraken, Coinbase also tend to offer more features, better customer support, and competitive fees.