Most reliable and popular crypto exchanges in 2018
As digital currencies gain popularity, the number of global cryptocurrency exchanges rises either: more and more people strive to earn on rate fluctuations, which correspondingly boosts the growth of trading platforms.
Currently, there are near 300 decentralized crypto exchanges that allow to buy and sell digital currencies making money on the exchange rate discrepancy. However, trading on cryptocurrency exchanges involves high risks: this relates not only to the mistakes made by traders but also reliability of trading platforms.
Working with crypto exchanges, investors can suffer hack attacks, bankruptcy or fraud initiated by their owners. In any abovementioned cases, traders may lose money that is very difficult or even impossible to return. For example, one of the world’s first crypto exchanges Mt.Gox existed within four years (2010-2014), gained the status of a reliable resource with massive market volumes and went defunct being damaged by a global cyber attack. At that moment, the exchange lost $473 m, and its clients lost money.
There exist several criteria for the assessment of the reliability of one or another crypto exchange:
- Level of security (multistage protection).
- Traded value.
- Popularity and positive feedback of traders.
When choosing an exchange, one should learn all the information about it. It’s important to know not only security methods, commissions and the number of trading pairs but also investigate expert rankings, assessment of other users.
Let us delve into the most reliable cryptocurrency exchanges.
The leader by several criteria: traded value, the number of users, a wide range of cryptocurrencies, availability across the globe, and pace of development. It’s interesting that the exchange is a beginner in this universe started functioning in 2017. The exchange quickly gained popularity among users. Owned by the Shanghai company Binance. Works fast and has a user-friendly interface. Its own currency is called Binance Coin.
- Security: three verification stages.
- Low commission (0.1% of a transaction).
- High speed of order processing (1.4 m/s).
- Daily traded value– $4 bn.
- Accepts 300 cryptocurrencies.
Binance also has a wide range of tools and Russian localization. The only disadvantage is that the exchange doesn’t allow to add and withdraw fiat.
The Hong Kong-based cryptocurrency exchange was launched in 2017 and quickly reached the top. It’s perfectly protected, offers a wide range of tools and a possibility of trading via a smartphone (using a specially designed app).
- Multilevel encryption.
- 24/7 online support.
- Commission – 0.1% (even lower for owners of the internal cryptocurrency KuCoin Shares).
- Affiliate program and passive income generation.
- Possibility of anonymous trading.
The internal currency can be withdrawn from the system and stored on a usual wallet Ethereum. KuCoin Shares owners gain profit from all commissions of the exchange and can lower it if they conduct trading operations.
Another Hong Kong-based exchange that became widely recognized among crypto traders within long five years of market presence. It is listed in top 3 by daily traded value, has Russian localization and gives an opportunity to trade via a mobile app.
- Traded value – $518 bn per day.
- Protection from DDoS attacks, cold storage of capital assets.
- Possibility to buy a low commission.
- Low commission – 0.2%.
- Flash trading in a real-time mode.
- User-friendly and simple interface.
The disadvantage is a slow user support system, the absence of the possibility of futures trading.
The UK-based exchange has seen on the related market since 2013. It offers a wide range of money withdrawal tools, cryptocurrency exchange to fiat, supports 10 languages including Russian. Users of EXMO.COM can instantly exchange digital cash to rubles, zloty, euros, and dollars, which is of particular interest to the CIS market.
- Wide range of functions.
- High work performance.
- Transaction commission – 0.2%.
- 5-30 min for money withdrawal.
- Big user network (500 000).
- Accepts fiat.
The disadvantage is the limited number of accepted cryptocurrency pairs but the most popular are surely included in the list.
The exchange has had an established market presence since 2014. It is famous for the number of trading pairs it supports – about 1000. Thus, the rarest and specific tokens can be found on the exchange. YOBIT.NET is a Russian platform adapted to the CIS residents. 5 m people visit this exchange every month.
- 24h traded value – $15 m.
- Low transaction commission – 0.2%.
- The exchange organizes lotteries, presents bonuses and often raffles presents.
- Protected from DDoS attacks, cold storage of assets.
- Own a ВТС faucet FreeCoins.
- Clients get 20% from the commission for the operations of the user they invited.
Money can be withdrawn through Qiwi, Capitalist, Payeer, and AdvCash. It’s also possible to transfer money to Visa and MasterCard.
The Russia-based exchange founded in 2014. It is available in several languages, gives a possibility to open a demo-account as well as exchange cryptocurrency to fiat. A lot of ways of capital adding and withdrawing are presented.
- Traded value – $13 m per day.
- Accepts 170 cryptocurrencies.
- Low transaction commission – 0.18%.
- Well-protected, no case of a hack attack has been recorded since 2014.
- High work performance.
- Possibility of anonymous trading.
- According to the traders, LIVECOIN is a perfect choice for beginners.
Every well-reputed crypto exchange has both advantages and disadvantages that should be taken into account. However, security is the vital criterion for all serious platforms. Traders are to assess the importance of all the rest criteria – the number of supported pairs, an interface language, a commission rate and a loyalty program.
Currently, the diversity of crypto exchanges allows to attain various purposes: for everyday trading, long-term purchase, trading with popular and unpopular kinds of digital currencies. It’s important not to stop at one variant but place assets on different platforms.