Cryptocurrency Exchange Platform

Cryptocurrency Exchange Platform offers ground to the investors where they can trade and exchange their cryptocurrencies. These platforms act as a medium between a seller and a purchaser and make money by charging fees and commissions.

What is Cryptocurrency Exchange Platform?

On typical cryptocurrency exchanges, an exact amount of money can be exchanged for bitcoin of equivalent value, or vice-versa. Similarly, bitcoin can be exchanged for etherium of equivalent value. It is possible to apply the same concept to different assets based on what the exchange offers. There are 2 types of cryptocurrency exchanges: Centralized vs. Decentralized. Centralized cryptocurrency exchanges function as a third party between traders. They are much more reliable than decentralized exchanges as they are managed and controlled by a company.

About 99% of all crypto transactions are centralized exchanges. Any transaction between Coinbase, GDAX, Kraken, and Gemini is an example of a centralized cryptocurrency exchange. On the other hand, decentralized cryptocurrency exchanges (DEX) make peer-to-peer transactions possible without needing a third party.  Users can use both ways to exchange their cryptocurrencies.

Best Cryptocurrency Trading Platform

The process of buying or selling cryptocurrencies requires a cryptocurrency exchange. There are online services working similarly to a stockbroker to give people tools to buy and sell digital currencies like bitcoin, ethereum, and dogecoin. If you don't want to buy and sell cryptocurrencies with high fees and weak security, it is crucial to choose the best crypto exchanges. You need to focus on currencies that are supported, pricing and security while trying to choose the best crypto exchange for your necessities. It is also important to know how to withdraw from your cryptocurrency exchange.  When it comes to the best cryptocurrency trading platform, here you can view some of them: Coinbase and Coinbase Pro are the best overall in 2022. We can suggest Cash App for beginners as it has very clear guidance for the ones who are just planning to make money on the cryptocurrency market. Bisq is another cryptocurrency trading platform that mainly focuses on decentralized exchange. If you are looking for a platform for Altcoins, Binance would be the best choice for you. As you can understand here, customer needs are the basic elements that make a cryptocurrency platform the best one for you.

How Cryptocurrency Exchange platform works

A cryptocurrency is a form of digital payment that is not supported by any real assets. It is preferred by many investors and customers in today's modern world as a convenient and fast payment method. Investors tend to buy cryptocurrencies out of which they can make a profit in the long run. This buying and selling process in the cryptocurrency market is called cryptocurrency trading.

As you may expect, there are incredible numbers of platforms in various countries providing necessary information and steps for cryptocurrency trading. At first, investors may feel confused about the exchanges between currency pairs due to a lack of information and experience about the system and principles, particularly the ones who have never had an experience with the concept of cryptocurrency.  These investors are generally at the beginner level so they need significant guidance to be able to follow the trading process safely. That's why this is investors' right to choose the best cryptocurrency trading platform to somehow guarantee themselves not to lose money.

Cryptocurrency exchanges are platforms that make the trading of cryptocurrencies easier for digital currencies. Cryptocurrency platforms act as a broker between people who buy and sell cryptocurrencies and they gain money by getting commissions and transaction fees as in remuneration for the assistance they cater to the investors.

Are Cryptocurrency Exchange Platform Safe

As mentioned previously, users are provided with two different Cryptocurrency Exchange Platforms, centralized and decentralized. Though both types are secure and safe to use, some users tend to make their transactions through centralized exchange platforms as they are controlled by a company. When you analyse the platforms carefully and learn details about exchange procedures, there is nothing to worry about the safety of exchange platforms.

How to Exchange Cryptocurrency

Today, cryptocurrency is becoming very popular among people. No matter how much you have heard or read about cryptocurrency trading, it is impossible to have a real exchanging experience without putting your real money on the market. Because it is all about buying and selling of the currencies with minimum fees and making the most profit out of that trading. So you need to take an action on the cryptocurrency exchange market as an investor.

People need a crypto exchange where they can buy and sell their digital currencies. You can find a number of exchange platforms where you can trade your cryptocurrencies. Huobi, kucoin, bitfinex, kraken, gemini and poloniex are just the tip of the iceberg. There are many other cryptocurrency trading platforms that help you trade your currencies. As the first step, you need to decide the way how you’d like to trade cryptocurrencies. If you are new to this market, you need to know the details related to the system and learn how the market operates.

When you want to trade your cryptocurrencies, you are supposed to sign up for a cryptocurrency exchange, for example, Coinbase or Binance. After picking the best exchange platform for you, the registration process must be completed. While signing up to the platform, you need to provide the necessary information regarding details about you. You must be at least 18 years old to be legally registered for that trading platform.

You will receive a confirmation link to verify your registration. Then, you need to assign a password for the exchange. Upon the signing-up step, you need to fund your account. Here, there is something you must be aware of. The method of payment differs depending on the exchange. Finally, you can start your trading between cryptocurrency pairs. These pairs could be dollars to crypto or crypto to crypto.  Beginners may feel intimidated by the cryptocurrency market owing to the language that is used by the market users or the platforms.

Being new to something always makes people anxious or stressed. The processes on the cryptocurrency market can make people feel confused about the cryptocurrency exchange.  In order not to get lost during your investment process, it is better to follow the steps above before you in your exchange.

What Makes a Trustworthy Crypto exchange Platform

Being trustworthy, secure, legally recognized by governments, popular, transparent, recognized by CoinSwitch, user-friendly, and practicing KYC Protocols are the key features that make a trustworthy crypto exchange platform. If you are well informed about trading tricks by doing your research precisely, you can start exchanging your cryptocurrencies and make money without losing any coin in your transaction.

Regulation

Regulations vary based on the country where cryptocurrency exchanges go through. In some countries, these exchanges are legal and regulated and controlled by governmental institutions such as countries in European Union, South Korea, Canada, the USA, and Japan.

Key Management

Key management plays a crucial role in providing a safe cryptocurrency exchange platform. The reason for that is if the system is weak and vulnerable to attacks, the intruder can steal everything from the system such as your personal data, coins and etc. It means that infrastructure is safe if the keys are secure. PKI is used by blockchain infrastructure to validate the IoT devices and the security of the infrastructure depends on the trustiness of the third party.

Cybersecurity

Cybersecurity is a big concern for the actors acting in the cryptocurrency market. As cryptocurrencies have become more common and popular, it's more likely that criminals use them for their illegal actions such as money laundering. It's possible to come across such news every day on the internet. That's why when trading cryptocurrencies, buying or selling them, it's inevitably important to be careful about cryptocurrency platforms and it is highly recommended to read all security and safety conditions regarding the particular platform. Despite these risks, cryptocurrency platforms can secure their systems with the help of developing technology.

Due Diligence

The term 'due diligence' refers to the act of investigating, auditing, or reviewing that investors need to do to authenticate facts or details of an issue under consideration. This process is suggested to be completed when it comes to investing to be able to see how likely the assumptions will come true while considering a decision.

Largest Cryptocurrency Exchange Platforms

The number of cryptocurrency exchange platforms has been increasing every single day and it is known that it started with Bitcoin and then new altcoins have been added to the list so far. Binance, Kraken, Mandala Exchange, Okex, KuCoin, FTX, and Coinbase are some of today's popular cryptocurrency exchange platforms. For the largest cryptocurrency exchange platforms, it is better to visit popular websites where you can view the ranking of the biggest cryptocurrency exchange platforms in terms of their annual volumes.

Binance

With an average daily volume of 2.0 bn., 1,400,000 + transactions per second, and 24/7 support, Binance has been one of the largest cryptocurrency exchange platforms today. The secret of their success lays behind the team they work with that consists of the best and most passionate members and their aim is to encourage the freedom of money all around the globe.

Providing infrastructure services for the blockchain ecosystem is their target job to do. Binance is the best place to buy, sell, trade, and hold cryptocurrencies such as BNB, BUSD, Bitcoin, Ethereum Litecoin, Ripple, BitcoinCash, Dogecoin, DeFi, SHIB, other tradable Altocins easily. All you need is to sign for Binance and start your exchange.

Kraken

Kraken is a popular cryptocurrency exchange platform that was founded by Jesse Powell to provide people with an alternative means to invest in space quickly and safely. Believing that the exchange is the most fundamental part of the cryptocurrency ecosystem, the company has expanded its network in a way that it can reach as many traders as it can globally as well as increase the number of employees working in its body simultaneously. Kraken is among the oldest and biggest Bitcoin exchanges worldwide and offers traders the best places to buy and sell crypto online thanks to its distinguished service, low fees, adaptable funding options, and strict security standards.

Coinbase

Even though it's relatively new launched compared to other exchange platforms,  with its $372B quarterly volume traded, being supported in more than 100 countries, and havings 73+ million verified users, Coinbase has been playing a crucial role in the cryptocurrency market these days.  You can buy and sell crypto, and earn free cryptocurrencies by using the Coinbase exchange platform and you can create your own wallet and finally, it's available in some countries to receive Coinbase Card is a Visa® debit card so that users can spend any asset in their Coinbase portfolio and they can earn rewards for each purchase.

KuCoin

KuCoin was founded by a young boy who had started code writing attempts at the age of 8. When he was 16, he heard about the crypto industry and tried to sell some Bitcoin first. Then, he realized that it is too difficult to understand that system for a beginner. In 2013, he wrote the first code that was easy to understand for everyone, even for early beginners. Having had 10 million global investors and more than 5 bn. daily volume so far, KuCoin is a popular and preferred crypto exchange platform in the world. Offering the largest social trading platform allows the company to interact with global investors and that helps them gain access to current and trusted crypto news. Investors need to create a KuCoin account to be able to buy and sell their cryptocurrencies, exchange them and follow current news to keep updated with the latest news. Investors can use their credit cards to buy coins or bank transfer and Apple Pay are also among other payment options to purchase coins.

FTX

Headquartered in The Bahamas and incorporated in Antigua and Barbuda, FTX is a company that offers cryptocurrency exchange to traders. The motto of the company is 'It's built by traders, for traders.' Traders benefit from many innovative products when they use that platform for cryptocurrency exchange such as industry-first derivatives, options, volatility products, and leveraged tokens. Their website allows the traders to learn about all details that they may need during their investing and trading.

Whether you are a beginner or a professional in the cryptocurrency world, FXT is one of the best exchange platforms that offer the best quality service to any kind of trader. FTX also assures the traders of high security for any transaction taking place via their platform.

Crypto Exchange Platforms Reviews & Complaints

In recent years, it is much more convenient to access any kind of information online with the big impact of the technology on the digital world. It means that users not only share their experiences with any cryptocurrency exchange platform but also are acknowledged by the experiences of other users of a particular platform. The fact that you can easily get the crypto exchange platforms' reviews and complaints help you feel secure and safe about the investment you are about to make.