Registering on a cryptocurrency exchange today is generally not that difficult, rather, on the contrary, it is more difficult to completely ignore contextual advertising. There are many trading platforms and among them you need to find one or more that is best suited for your purposes. It is important not only to make a choice when comparing DAG vs HBAR, but also to minimize the risks that depend on the platform where you will trade.
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Factors for choosing a crypto exchange
Although cryptocurrencies were initially positioned as an alternative to traditional money and payment systems without intermediaries, this has not yet succeeded. Cryptocurrency exchange is the third party in the transaction, which will have to be trusted with your money.
When choosing a crypto exchange, you should pay attention to the following points:
- Reputation. Read reviews about the sites you are interested in on thematic forums. Both the number of reviews and the ratio of positive and unpleasant experiences will be indicative. Another source of information is the ratings of crypto exchanges in reputable publications, since mini-ratings are in many ways too subjective.
- The need to verify the client. Many large exchanges seriously limit the possibilities of anonymous users, but on some sites this only applies to the trader’s daily turnover. Requirements will become tougher over time, but for now there is an opportunity to remain incognito.
- Duration of continuous operation. The cryptocurrency market is still very young and scammers are actively using it. It is better to play it safe and initially choose platforms that have been continuously functioning for at least a year, but better – more than 4 years.
- Commission size. On average, commissions in the industry are 0.1-0.2%. Now dynamic commissions are increasingly practiced, which change depending on the trader’s trading volume. On some platforms, you can get discounts using the native ecosystem token.
- Number of trading pairs. It’s actually not as necessary as it seems. It is enough that the platform has the optimal set of tools for you.
- Daily trading turnover and liquidity. These are very important indicators for successful trading. A high daily turnover significantly increases your chances of a good profit, and the speed of order execution depends on liquidity.
- Safety. Find out how the storage of client funds is organized and take an interest in the history of the platform. Not only the fact of hacking is important, but also the reaction of the exchange to the incident.
Pay attention to the availability of the exchange in your region, support for fiat currencies and payment options that are convenient for you.
Cryptocurrency exchanges with the best exchange rates
The largest centralized crypto exchange, the leader in terms of liquidity and daily turnover. Spot and margin trading, derivatives and p2p trading are available on the platform. 354 assets and 1444 trading pairs are supported. Binance accepts fiat currencies, but verification is required to access trading. Commissions are below industry averages. Binance is based on its own blockchain. To compensate for losses from hacks, the SAFU fund is provided.
A large centralized crypto exchange with a simple interface. Supports spot and margin trading, derivatives, p2p. Deposit replenishment in fiat is not provided, but direct purchase of some cryptocurrencies from bank cards is possible. Verification is not required to access the trading functionality. The commission is calculated according to the taker/maker model and is below the industry average. There are several levels of account protection.
One of the largest and oldest crypto exchanges with a high level of liquidity. Supports over 640 cryptocurrencies. Spot and margin trading is available on the platform, deposit replenishment in fiat currency is supported. The commission is 0.2%. Account verification is not required.
Convenient instant exchange service with support for about 2000 coins and tokens. Direct conversion available USD to CV. Trading functionality is available without registration and account verification. There are no commissions on LetsExchange, there are no restrictions on the number and volume of transactions.