What Is A Cryptocurrency Exchange?
A cryptocurrency exchange allows the investors to buy, sell or trade cryptocurrencies(either from fiat to crypto or from crypto to crypto). The cryptocurrency exchanges mostly support the top 20 cryptocurrencies by coinmarketcap. People look out for the security of their crypto holdings, hence they would prefer exchanges that offer great functionality, is user-friendly and secured.
Now, let us have a look at the best cryptocurrency exchanges in 2019:
#1 Coinbase Pro:Coinbase Pro was one of the early cryptocurrency exchange platform, founded in 2012, based in San Francisco, with a valuation of around $1 billion. Coinbase Pro helps enable withdraw and deposit funds easily. It offers competitive fees, advanced trading features, and deposit options. IT is insured by the New York Stock Exchange and Andresseen Horowitz.
Supported Coins: BTC, ETH, BCH, LTC, ETH, ZRX, BAT
Trading volume: $102,333,155
Pros: Fully regulated in the United States, Competitive Fees
Cons: Not ideal for beginners, very fewer altcoin pairings for Australians
#2 Binance:Binance is the world’s biggest cryptocurrency exchange which works like an ecosystem, comprising of an exchange, wallet, Labs, Charity info, etc as stated by the CEO- Changpeng Zhao. Binance has its own coin called Binancecoin(BNB) which comes with a discount when there is crypto-to-crypto payment. Binance supports over 130 tradeable cryptocurrencies and is one of the best exchanges to buy cryptocurrencies.
Supported Coins: Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, EOS, DASH, Litecoin, NEO, GAS, ZCash, Ripple and many more.
Trading Volume: $725,673,705
Pros: Low transaction fee- around 0.1%, not exactly suitable for the beginners as it has two versions of trading- basic and advanced with not an easy-to-use interface.
Cons: You can’t use or exchange with fiat, can’t margin trade or short sell.
#3 BitMex:BitMex is one of the premier Bitcoin exchange platforms across the world, based out of Hong Kong. As the name suggests, BitMex( Bitcoin Mercantile Exchange) is a trading platform for Bitcoin, the largest cryptocurrency by market capitalization. There have been reports that BitMex has had experienced over 2 billion USD transactions that have happened in 24 hours.
Supported Coins: Bitcoin, Cardano, Bitcoin Cash, Ethereum, Litecoin, EOS, Ripple
Trading Volume: $1,459,963,531
Pros: You can buy leveraged contracts like future or perpetual contracts from BitMex. You can short sell and margin trade.
Cons: Only one cryptocurrency is available for trading and does not accept any US-based payments as it's not available there.
Read here the details about exchanges:
https://coinswitch.co/news/10-best-cryptocurrency-exchanges-for-crypto-trading-in-2019