Cryptocurrency is one of the most trending topics in the world. Everyone wants to know what actually virtual currency is. Cryptocurrency is a virtual currency which helps to do transaction electronically. But on this topic, we are going to discuss the Crypto exchange. So what is crypto exchange? So let me explain to you, if you want to buy, sell, or exchange Cryptocurrency for other virtual currency or physical currency then you need to go to the Crypto exchange website. So in simple words, the crypto exchange is simply a website which allows Crypto users to purchase, sell, and to exchange Cryptocurrency for other digital currency and even in physical currency like the dollar, Pound, Euro, etc. We might have heard the stock exchange, the stock exchange is for trading stocks so similar to that Crypto exchange is for trading Cryptocurrency. You should not be in a hurry while choosing Crypto exchange for trading Cryptocurrency. You should be patient and should do a detailed investigation.
You must evaluate the following factors before choosing any Crypto exchange:
- Security for transaction
- Security for storage
- Fees and Liquidity.
So to make your evaluation work easier, here are the top 10 Crypto exchange in the world:
Coinbase is one of the top Crypto exchange in the world which was founded in 2012, San Francisco, United States. The founder of this Crypto exchange are Brian Armstrong and Fred Ehrsam. Coinbase has two products and that are highlighted below:
- GDAX: GDAX Stands for Global Digital Asset Exchange which works for a trading different variety of virtual assets or digital assets.
- Another product of Coinbase is Bitcoin cash, Bitcoin, Ethereum classic, Litecoin, and Ether for flat currency.
The feature of Coinbase Crypto exchange:
- The first feature of Coinbase crypto exchange is that Coinbase is open for 32 countries in the world for trading functionality.
- It offers transaction and storage of Bitcoin in almost 190 countries of the world.
- Coinbase Crypto exchange allows you to buy, Bitcoin, Bitcoin cash, Ethereum, Ethereum Classic, Litecoin.
Kraken is one of the biggest Crypto exchange whose headquarter is in San Francisco, United States but also operates in Canada, Japan, and the EU. Kraken was founded on July 28, 2011, and the founder of this Crypto exchange is Jesse Powell. This US-based Crypto exchange helps you to trade Bitcoin, and Altcoin against government-issued flat currency which includes British Pound, Euro, Japanese Yen, Us Dollar, and Canadian Dollar.
Features of Kraken Crypto exchange:
- Kraken Crypto exchange is available worldwide
- Kraken allows you to exchange a different variety of cryptocurrencies like Bitcoin, Ether, Dash, Ripple, Monero, Bitcoin Cash, Zcash, and so on.
- Kraken process the funds within 1-5 business days.
Bittrex is an American Crypto exchange whose headquarter is in Seattle, Washington. This Crypto exchange was founded in 2014 by three people named Richie Lai, Rami Kawach, and Bill Shihara. This digital currency exchange support Bitcoin, Ethereum, and 190+ cryptocurrencies with approximately 271 trading pairs. Bittrex supports USD or American dollar as a flat currency.
The feature of Bittrex Crypto exchange:
- Bittrex is a cheap Crypto exchange which charges 0.25% commission on every trade.
- The deposit methods in this Crypto exchange are Cryptocurrency, and wire transfer.
- Bittrex is a very secure platform to trade.
Bitstamp is a Crypto exchange which is founded by a Nejc Kodrič, and Damijan Merlak in 2011. The Ceo of this digital currency exchange is Nejc Kodrič and it is located in London, Luxembourg, and Slovenia. This virtual currency exchange allows users to add funds by the help of Crypto and Flat currencies such as USD, and Euro. Bitstamp support Bitcoin, Litecoin, Ripple, and Ethereum.
Features of Bitstamp Crypto exchange:
- Bitstamp office is located in three countries i.e. England, Luxembourg, and Slovenia and it is available worldwide.
- It accepts various payment methods such as SEPA, Wire Transfer, Credit Card, and Cryptocurrencies deposit.
- Bitstamp transaction fees are very low, trade fee can go up to 0.1% if you trade $20 million within 30 days.
Binance is a Cryptocurrency exchange or a digital currency exchange which was founded in 2017 by Changpeng Zhao, and Yi He. Binance is a China-based virtual currency exchange whose office is in Japan, and Taiwan too. Binance is also planning to open its office in Jersey to increase or to engage European influence. This company is planning to add flat currencies including Euro, and British Pound. Binance support Bitcoin, Ripple, Ethereum, Dash, BNB, Ethereum Classic, and 94+ more cryptocurrencies.
Features of Binance Crypto exchange:
- Binance is very cheap because its trade fee is only 0.1%.
- The deposit method of this digital currency is Cryptocurrency.
- This China-based digital currency is very much capable to process 1.2 million transactions in every single second.
Bitflyer is a Japanese base digital currency exchange which is one of biggest Cryptocurrency exchange in the world. It was founded by a Yuzo Kano in 2014. Bitflyer also extended its company in the 42 states of USA. Bitflyer supports Bitcoin in the USA but Japanese users can trade Bitcoin cash, Ethereum, Ethereum Classic, Litecoin, and MonaCoin. If we talk about its flat pairs it only supports USD, Euro, and Yen.
Features of Bitflyer Crypto exchange:
- USA citizen can only Buy, sell, and exchange bitcoin through this Crypto exchange.
- The trading fee can vary between 0-0.15%
- It accepts Wire transfer, Credit card, Bank transfer, Cryptocurrency.
Bitfinex is a digital currency exchange from Hong Kong. This Cryptocurrency exchange was founded in 2012 by the two people named Giancarlo Devasini, and Raphael Nicolle. In 2015 the Bitfinex customer account was hacked which resulted in the loss of $400000. But again in 2016, the same thing happened, again 73 million USD was stolen from the customer account. This virtual currency exchange support USD, and Euro as flat Pairs. Bitfinex support Bitcoin, Bitcoin Cash, Dash, Ethereum Classic, Ethereum, EOS, SPANK, Monero, Ripple, and many other cryptocurrencies.
Features of Bitfinex Crypto exchange:
- Deposit methods of this Crypto exchange are Wire transfer and Cryptocurrencies.
- This digital currency exchange is also supported by a mobile application.
CEX.IO is one of the popular Cryptocurrency exchange in the world. CEX.IO is a London based digital currency exchange which was founded in 2013 and the founder of this Crypto exchange is Oleksandr Lutskevych. This virtual currency exchange offers trading Cryptocurrency for flat money like the American dollar, Euro, Pound, and Russian Ruble. CEX.IO Cryptocurrency exchange support Bitcoin, Ripple, Ether, Dash, Zcash, Bitcoin Gold, Bitcoin Cash, and Stellar Cryptocurrencies.
Features of CEX.IO Crypto exchange:
- CEX.IO Cryptocurrency exchange accept various deposit methods such as Credit Card, Cryptocurrency, Debit Card, Bank Transfer, and SWIFT CODE.
- The fees rate of CEX.IO is very high, it charges 7% transaction fee while buying and selling bitcoin.
- CEX.IO is not available mainly in Asian countries like Afghanistan, Vietnam, Iraq, and so on.
LBank is another Cryptocurrency exchange whose service is mainly centered in China. This digital currency was founded in 2016 by the core team from the traditional financial industry. It supports the flat money transaction in the American dollar and Chinese Yuan. It allows users to exchange Bitcoin, Ethereum, Qtum, Zcash, and also offers VEN’s digital exchange service.
Features of LBank Crypto exchange:
- LBank is one of the largest Cryptocurrency exchange in China.
- LBank is world seventh biggest Crypto exchange according to trade volume.
Okex is a Hong Kong based Cryptocurrency exchange which was founded in 2014 and the founder of this digital currency exchange is Star Xu. Okex allows users to exchange Bitcoin, Ethereum, and Futures trading Pairs. In 2018 there are 675 employees working in this industry and it is available worldwide.
Features of Okex Crypto exchange:
- Okex is one of the largest Cryptocurrency exchange in terms of trade volume.
- Okex is focused on trading Cryptocurrency and flat backed tokens.
Now let’s know more closely about the trade volume of the above 10 Crypto exchange:
Therefore, from the above data, we can know the markets, 24-hour trades, 24 hours volume, and the market share of each Crypto exchange. Above given data keeps on changing in every minute. This is the data of October 14, 9:13 AM GMT.
In a conclusion, Crypto exchange is simply a website which helps to trade cryptocurrencies. It will help to exchange, buy or sell Cryptocurrency for other virtual currency, it even deal with physical currency. There are several Crypto exchange available in the Cryptocurrency world, one must have to do a detailed investigation before trading cryptocurrencies. We hope this article provided you a great knowledge.
Master’s student in Estonia studying mechanical engineering.
Cryptocurrency, Mining, Masternode running, IoT Technology.