The high demand for cryptocurrency has led to the creation of a large number of cryptocurrency exchanges.
What are cryptocurrency exchanges?
A cryptocurrency exchange is a platform where a user can buy and sell digital currencies online. Apart from trading cryptocurrency, crypto exchanges also provide the ability to store coins in personal wallets.
There are over 300 decentralized exchanges today. But if you compare prices on different exchanges, then, among them, it is easy to identify the best ones that allow users to make the most of the difference in rates and make money on it. It is cryptocurrency arbitrage, a simple and fast, way to make money on crypto.
When choosing a cryptocurrency exchange, we are driven primarily by commercial interest. By coming to the exchange with a certain amount of money, we expect to increase our capital and gain experience. This experience will help us in the future to use exchanges as a source of constant income.
Сryptocurrency exchanges according to different criteria
First of all, you need to carefully study the lists of the best cryptocurrency exchanges and highlight those:
- on which it is most profitable to buy currency (where is the lowest price);
- which is best to trade (sell at the highest price);
- on which optimal conditions have been created to store digital savings better and more reliably.
Having studied the current list of exchanges by rating, the user can choose sites that have already proven themselves well. Thus, you can minimize your risks.
So that you do not have to spend dozens of hours studying numerous exchanges, we have collected the top exchanges in 2020 according to different criteria:
- by reliability;
- trading volume;
- the most optimal sites for beginners.
This up-to-date guide to top cryptocurrency exchanges will help you to work better, earn more, and be completely confident in your choice.
Reliability rating
Each of the existing exchanges declares a full guarantee of the safety of user investments. But not all crypto exchanges can provide it.
You need to understand that even the most reliable and serious sites with the maximum thought out and debugged system of work cannot guarantee 100% safety of your money. Therefore, the first thing to do before starting a foreign exchange operation is to study the security level of a particular exchange. And it is best to get acquainted with the rating of the reliability of popular trading platforms, compiled based on expert assessment and trading experience. It includes those cryptocurrency exchanges that are almost impossible to hack due to the multi-level protection of user accounts.
An objective and up-to-date rating of existing sites, as well as personal discretion and intuition, will allow you to make an unmistakable choice and not worry about the safety of your funds.
Top 3 reliable cryptocurrency exchanges
The most reliable platforms for working with cryptocurrency, which will not disappoint you:
- Binance.com
- huobi.com
- bitmex.com
The best cryptocurrency exchanges by trading volume
The financial turnover, presented by the trading exchange, shows its scale, success, and influence in the cryptocurrency market. The daily trading volume is the most important indicator that reflects the degree of popularity and demand for the exchange among traders.
Being at the top in terms of trading volume means having a larger number of active users who daily carry out large transactions with various crypto coins.
The rating is based on data on the current trading volumes on each of the sites presented.
Top 3 cryptocurrency exchanges according to the trading volume
The top of the largest exchanges by daily turnover is:
- Binance
- Huobi Global
- OKEx
Best cryptocurrency exchanges for beginners
If you are just starting your cryptocurrency history, you need to choose those platforms that have been developed with keeping new users in mind. When dealing with cryptocurrency, there is no space for hasty and thoughtless decisions. Therefore, you need to enter the market in small but confident steps.
Top 3 cryptocurrency exchanges for beginners
So, if it comes to which exchange it is better to trade cryptocurrency for a beginner, first of all, we recommend the following platforms:
- Binance
- KuCoin
- OKEx
These are the best cryptocurrency exchanges for a new user just starting to dive into the topic of cryptocurrency. They enable him/her to trade efficiently even at the very beginning of his trading career. The main thing is to start right.
