Best Exchanges - they are your gate to the crypto world.
Why Does it Matter to Choose the Best Exchanges?
The first step to profiting big is choosing reliable exchanges to trade with. They are your gate to the crypto world. Three main factors differentiating between a useful exchange and a useless exchange are liquidity, security, and fees. Look for them when you choose the best crypto exchange platform for you!
- Liquidity defines the ease at which an asset can be bought or sold. If there is a lot of liquidity, then there will always be a buyer or seller waiting on the other side of your order request.
- The second factor is security. When your money is on an exchange, you are trusting them to hold your funds, so you better hope that their security is up to par. Exchanges are constantly under attack. A recent example is Cryptopia who had hackers siphon millions from the exchange. Although these funds have now been reimbursed, imagine waking up one morning to all of your funds being stolen from the exchange. Not good!
- The third factor is fees. Top traders in the industry are aware of fees, including them in their profits. Because of this, I will recommend exchanges that aren’t only liquid and secure, but also cheap.
And the Best Exchanges are:
At the time of this writing, Binance has the most volume in the market. This means they have the most money being transacted and are the most liquid. They also have the most users and have never been hacked. With a clean track record, reliable team, and lots of liquidity I am confident in recommending Binance as one of the exchanges you must use.
Coinbase Pro offers less trading pairs than Binance, but is very well trusted, especially by larger investors. They are US based, FDIC insured, and have never been hacked. FDIC insured means that US users are insured for up to $250,000 (of your USD wallet) if something unfortunate were to happen.
Are you a risk taker? Then BitMEX is for you. They offer up to 100x leverage, which means high risk, high reward. They are Hong Kong based and have also never been compromised by hackers. BitMEX is a good alternative to spot trading exchanges such as Binance and Coinbase Pro.
