The Beginners Guide to Crypto Currency Exchange

[Micheal Jorden]

Cryptocurrency Exchange or Digital Currency Exchange is a company that involves the exchange of cryptocurrency with other assets such as for instance money or some other digital currency. It's a web service that gives electronic transactions in electronic forms and taking fees for them.

Any transactions or operations to Digital Currency Exchange could be made through debit and credit cards, postal money order or some other kinds of money transfer. This informative article is all about discussing the many cryptocurrency exchanges which facilitate crypto currency trading for newbies and what they feature with regards to availability, simplicity, security, deposit/withdrawal methods and fees. We hope this guide to cryptocurrency trading will help you obtain started with cryptocurrency exchanges.

Coinbase/GDAX

Coinbase is one of the biggest cryptocurrency exchanges based in San Francisco, California. It will come in 32 countries and currently serves over 10 million customers. Launched in 2012, it has an simple to use interface that makes Digital Currency Exchange a straightforward task for a non-technical person. It can be readily available for both iOS and Android. Unfortunately, Coinbase doesn't provide crypto currency mining for newbies and is only an exchange.

Currently, it includes four coins, Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. It exchanges digital currency with US dollars, Euros and Great British Pounds. With minimum transfer fees, Coinbase has never experienced any security breach which makes it a great platform for digital currency exchange. In addition to that, Coinbase also offers a fully-fledged advanced exchange called GDAX. It gives more advanced features and different and better trading fees than Coinbase.

Bitstamp

Bitstamp is another platform that gives digital currency exchange. It's relatively simple to use and offers more advanced features via TradeView. Bitstamp offers coins such as for instance Bitcoin, Litecoin, Ethereum, Bitcoin Cash and ripple. It exchanges digital currency with US dollars and Euro. You are able to placed into practice all the latest crypto currency trading techniques in this exchange.

It gives Flat deposits via bank transfers and supports debit/credit cards  uniswap.Perhaps the only drawback you can find in Bitstamp is slightly high fees and the fact that it suffered one security breach in 7 years of its operation. Nonetheless, it's one the most reliable exchanges. It will come in both iOS and android.

Gemini

Gemini is really a UK based company launched in 2015 by Winklevoss twins. It will come in few countries including U.S, Canada, Hong-Kong, Singapore and South Korea. Among the downsides to the platform is that it's not particularly user friendly. So, beginners aren't recommended to make use of this platform.

It gives two coins and 1 FLAT currency Bitcoin Cash, Ehtereum and US Dollars. Gemini follows strict protocols as it pertains to security and by 2018, it hasn't encountered an individual security breach thus making it one of the very secure and reliable digital currency platform. However, it is essential to own digital currency investment strategies before you begin trading.

Digital Ticks

Digital ticks is a modern crypto exchange that aims to be a game changer in this sector. They've implemented many of the latest techniques which makes it easy for anybody to get started with trading.

It features a unique feature called a Single Portfolio View that will enable the traders to see most of the holding positions on a single portfolio. It would be simple for traders to create informed decisions concerning the cryptocurrency exchange applying this unique feature. Additionally it supports Bitcoin, Ethereum, Litecoin and Dashcoin.

Kraken

Kraken is one of the oldest cryptocurreny exchange platform. Launched in 2011, kraken is the biggest exchange with regards to volume and liquidity for EUR trading pairs. It serves worldwide including the US.

Kraken offers a number of coins including Bitcoin Cash, Ethereum, Monero, Augur, Litecoin and many more. Additionally it supports deposit/withdrawals via bank transfers and cryptocurrencies. Having a maybe not so friendly user interface, in addition, it is suffering from stability and performance issues however, it's good platform for cryptocurrency exchanges.

Bitfinex

Bitfinex is the biggest cryptocurrency exchange platform. Launched in 2012, it has an simple to use interface and offers advanced quantity of features such as for instance margin trading, margin funding etc. It can be obtained for both iOS and android platforms. It gives BTC, BCH, ETH, LTC, IOTA, XMR and NEO.

Just as the previous cryptocurrency exchanges, it supports withdrawals using US dollars and Euros via bank transfers. Bitfinex has suffered two security breaches, the very first one was in May 2015, which triggered a loss in $330,000. And the next one on August 2016 that triggered a loss in worth $72 million.

EtherDelta

EtherDelta is really a decentralized exchange that directly supports peer to peer connection. It's very different from the previously discussed cryptocurrency exchanging platform. Here, funds are held in a smart contract on a Ethereum network that you simply are solely responsible for depositing and withdrawing from. Currently, EtherDelta only supports Ehtereum based tokens.

EtherDelta features a rather confusing interface that makes it difficult for users to perform cryptocurrency exchange operations. In one occasion, someone tried to buy 750 Kyber for 0.007 ETH each but wound up buying 0.007 KNC at 750 ETH.

Conclusion

After considering the many cryptocurrency exchanging platforms, we can safely claim that Coinbase and Bitstamp sticks out with regards to its good features like security, easy to use interface, multiple withdraws/transfer methods and many more.