The global crypto market is growing. By 2028, its capital is about to reach two billion dollars. If you consider becoming one of the investors, you need a safe place to manage your crypto assets.

The best crypto exchanges have become a robust and secure solution. Make sure to pick the one that works well for your particular needs.

What Are Crypto Exchanges?

Crypto exchanges are known as platforms where users can manage cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and traditional currencies like U.S. Dollars and Euros. They basically serve as a marketplace where you can buy, sell, or trade your assets with other users. Each transaction is processed with a small fee. If you decide to trade your crypto coins with others using different crypto coins, you will have to pay an additional fee.

What Are The Criteria For Choosing Crypto Exchanges? 180

Finding out the best crypto exchange takes time and effort. To make the right choice, you should take some criteria into account. These include:

• Security – When you invest in cryptocurrencies, you should always think about the security of your assets. It’s important to know that your crypto exchange offers a safe environment where your account can’t be hacked.
• Fees – Crypto exchanges charge different fees for their services. Make sure to check how much you will have to pay extra for different crypto operations.
• Accessibility – Crypto exchanges need to have a license to operate in this or that location. Make sure you can register an account and manage your crypto assets with the selected platform.
• Liquidity – Crypto exchanges should have a good crypto volume to let you easily buy and sell assets. The more traffic they have, the higher the chance you will sell your crypto with a profit.
• Available coins – Crypto exchanges have different cryptocurrencies available on their platform. If you are interested in particular crypto coins, you should check the local coverage before joining.

The Top 3 Cryptocurrency Exchanges for Experts and Beginners

Now that you know the things to look out for when searching for a cryptocurrency exchange, you might want to see some good examples. Here are some of the most popular options on the market:

Binance

Binance is a cryptocurrency exchange with the longest list of crypto coins and the largest crypto trading volume. Since 2017, it has been offering a relatively secure, versatile way to trade cryptocurrencies. It charges only 0.1% per transaction, which is lower than most exchange platforms have to offer.

OKX

OKX offers a crypto exchange along with additional services. Its easy-to-use interface allows both beginners and professional traders to manage crypto assets. It offers a variety of cryptocurrencies and crypto derivatives including Futures trading, Options, perpetual swaps, and crypto indices. OKX charges between 0.06% – 0.08% as maker fees and between 0.08% – 0.10% as taker fees.

Bybit

Bybit is a small cryptocurrency exchange platform that allows you to buy and sell your crypto instantly. It has 99% availability even during volatile market periods. It also features an excellent pricing system, a 100K TPS matching engine, HD cold wallet, and a convenient trading system. Bybit has a 0% maker fee and 0.1% taker fee for all spot trading operations.

How to Use a Cryptocurrency Exchange

Most crypto exchanges are centralized. This means that they function as a brokerage that connects buyers and sellers. So users can invest money into crypto and then trade their assets for getting a financial benefit. Doing this, they will have to pay a fee for converting one crypto into another.

Crypto exchanges accept a wide variety of payments, including direct bank transfers, credit and debit cards, money orders, and even gift cards. Using one of those, you can withdraw your crypto funds and transfer them to another wallet. That’s what popular platforms like Robinhood and eToro allow you to do.

Final Thoughts

Choosing the right cryptocurrency exchange depends on your personal needs. Whether you are a beginner or professional, you surely want to manage your crypto assets in a safe and convenient environment. By keeping the above information in mind, you won’t have a problem finding a solid platform. Just take some time for research.

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• Source: Plato Data Intelligence: Platodata.ai