Bitcoin Forum

Hi! I'm rather a beginner and I'm interested in your opinion! I have simple questions for people who are interested in cryptocurrencies and used crypto exchangers (like Changelly, ShapeShift, etc.) at least a couple of times.

So my question is why do you use a crypto exchanger instead of a coin stock? In which situation? What is important to you during a transaction (safety? or something else?) Which cryptoexchanger would you recommend for someone new in the crypto world and why?

I'm very curious about your opinions.

First of all, I like that you asked the most important question in Crypto World i.e about Exchanges.

There are 10s of cryptocurrency exchanges, there are primarily custodial exchange, non-custodial exchanges, decentralised exchanges.

• Custodial -  Exchanges like Binance, Coinbase, they store your cryptocurrencies with them, you do not have access to your private key
• Non Custodial Exchanges - Exchanges like Changelly, N. Exchange,ChangeNow, etc. in these exchanges you send coins from your own wallet, and receive coins in another wallet.
• Decentralised Exchanges- IDEX, ether delta, not very easy to use, very bad UI. 

I would always use an exchange which do not store my currencies, also I want to always see which exchange is offering me the best rates to trade coins, I want to compare prices at leading exchanges like ShapeShift, Changelly, Changer, ChangeNow, Binance, Bittrex, Cryptopia, HitBtc etc.

Therefore I use https://coinswitch.co/, CoinSwitch exchange is an aggregator of leading exchanges, and provide the best rates to trade.