What is Cryptocurrency Exchange?
Crypto Exchange is a marketplace where all crypto trading happens, be it buying selling or holding crypto you will have to register yourself in these exchanges for any transaction.
Some of the major Crypto exchanges are as follows
COINBASE
Coinbase is one of the most popular crypto exchange spread across 32 countries
Coinbase has 57 million verified users.
Coinbase is recently listed in NASDAQ and its IPO is awaited very eagerly by crypto marketers.
For depositing coin base charges spread of 0.5 percent along with the variable fee.
variable fee varies for the mode of payment for credit card it would be around 3.99 percent and for the bank transfer it is around 1 percent or free of charge depending upon the region.
Coinbase issued a debit card in several countries with the daily withdrawal limit of $500 and use limit of $10,000.
Binance Exchange
Binance is the largest exchange in the world if the trading volume is taken into consideration.
it has more features and advanced charting for technical analysis then many of the exchanges around.
it was founded in 2017by Changpeng Zhao and is based in Tokyo Japan. who himself is an developer and is known for creating high frequency trading softwares. Trading fees at Binance is very less.
Binance employs the Binance Launchpad and allows listing and purchasing of new IPO( Initial Exchange Offering)
Binance fee is one percent, you get concession if you trade in its coin BNB also if you are holding BNB in the exchange your trading fee is reduced.
there is no deposit fee,withdrawl fee is also very less .
Margin Trading offered by Binance is about 3X leverage
BITTREX
Bittrex is an US based Cryptocurrency Exchange with Headquartersin washington.
was founded in 2013, Bittrex list the coin in its exchange through its support team which scrutinize the whitepaper and prospects of the coin thoroughly, Bittrex do not charge commission for listing of the coin, however with a 14 days advance notice Bittrex can delist the coin from its exchange.
Bittrex provides charts and various drawing tools for the technical analysis of the coin.
Bittrex charges a fixed trading fee of 0.25 percent.
Bittrex is also a reliable crypto exchange with high frequency trading and charting abilities , it has over 300 cryptocurrencies registered to trade on,and is present in over 200 countries, the fee is also very nominal. Bittrex do not charge any fees for the deposit or withdrawal of USD or cryptocurrencies.
KRAKEN
Kraken was founded in 2011
Kraken popularity is globally equivalent to Coinbase, it has oven 8 million customers .
its an US based cryptocurrency exchange and Bank ,Kraken provides trading between Cryptocurrency and fiat currency and provide information to Bloomberg terminal.
Kraken offers advanced charts with many technical indicators and on different time frames.
All the major cryptocurrencies are registered here and available for trading.
Kraken has recently launched it’s trading app in US.
Kraken offers Future trading so a trader can take leverage up tp 40X
fees are not fixed on Kraken, it depends upon the previous 30 days volume.
Kraken allows the deposit of fiat currencies. the deposit limit is $100,000 for the intermediate accounts and for the pro account it is $1,00,00,000, transfer can only be done through bank transfer as Kraken do not support credit cards.
US Citizens can use FEDWIRE method with a mimimum deposit of only $20 and fixed fee of $5.
withdrawal limit is fixed to $5000 for the starter account, $500,000 for the intermediate account and 10,000,000for the Pro account.
STORMGAIN
fee structure for Stormgain
- Trading fees for the BTC pairs is 0.25 percent and 0.08 percent for the USDT pairs
- 10 percent fees only for the profitable trades its 0 fees for the non profitable trades
- Stormgain offers leverage for trading from 5x to 300x
- Minimum deposit for BTC IS 0.00003, its 0.001 for Etherium, for BCH its 0.003, for ripple its 4 ripples,
CEX.io
CEX.io is an UK based cryptocurrency exchange , it was established in the year 2013.
CEX allows coin listing but it can also delist the coin with 30days prior notice.
CEX allows purchasing crypto with fiat currency.
CEX offers 16 USD pairs and 15 BTC pairs for trading.
CEX interface is user friendly, Trading fees depends upon the volume of trade and differs for buyer and seller.
HUOBI
Huobi is an Hongkong based cryptocurrency exchange it started in the year 2013.
HUOBI interface is user friendly.
It offers 57 trading pairs
Fees are charged depending upon the volume of trade for last 30 days, its different for an normal user and for the professionals, for normal users it is from 0.07 to 0.19 for professional users for buy it is 0.010 to 0.07 and for sell it is 0.022 to .085.
withdrawal fees are very small.
BITMEX
BITMEX is a cryptocurrency exchange started in the year 2014
trading fee depends upon if you are a Buyer or a Seller.
Bitmex has different leverage rates for different cryptocurrencies, for BITCOIN it gives the leverage of 100X, Etherium it gives leverage of 50X,for Litecoin it give leverage of 33X, for Ripple 20X,for carnado 20X and similarly different leverage for different coins.
crytocurrency exchange is a market place where the users who have registered themselves in the exchange can buy and sell crypto andlater cantake transfer intothere account in fiat currency.
Crypto exchanges are generally of three types, Centralised crypto exchange, Decentralised cryptoexchange and Hybrid exchange.
trading in the crypto exchange itself is very risky as exchanges are vulnerable to failure and can fail for any reason, recent example is the leading crypto exchange FTX which has failed leading to big losses to crypto investors .