A cryptocurrency exchange is a special platform where users can sell or buy cryptocurrencies for other cryptocurrencies or fiat currencies. Since the crypto boom, the number of crypto exchanges has increased significantly and many are wondering which platform is best for them.
To simplify your task, we have compiled a list with some of the leading cryptocurrency exchanges that you can use in 2020.
CEX.IO
CEX.IO is a London-based cryptocurrency exchange that was founded in 2013. The platform is registered with FinCEN as an MSB (Money Service Business), which means that it can legally provide cryptocurrency services for fiat transactions.
The exchange also shows registration with an ICO (Information Commissioner Office) in the UK.
The platform allows you to buy and sell with 8 cryptographs (BTC, BCH, ETH, XRP, DASH, XLM, ZEC, BTG), as well as with four fiat options. CEX.IO also provides advanced trading opportunities such as margin trading.
It is possible to directly purchase cryptocurrency by credit card using Visa / MasterCard, but this will require a preliminary verification of the card.
You will need to create an account with your email ID and fulfill their AML-KYC ID requirements. After the verification process is completed, you will be able to trade and finance your account using optional currencies.
BitMEX
BitMEX is a cryptocurrency trading platform based in Hong Kong that provides futures and perpetual contracts pegged to the price of Bitcoin.
The exchange is mainly aimed at advanced traders as it is focused on offering 10 leverage margin trading0x... This site is probably not recommended for new traders due to its complexity.
The platform offers a number of options for futures, including perpetual contracts that do not have an end date. Trading fees are reasonable and there are no fees for deposits and withdrawals. Bitcoin is currently the only cryptocurrency that can be used for deposits and payments, but you can purchase a number of other altcoins using the platform. Payments in the USA are not accepted here, as is the case with the indicated currencies, which is a drawback for some traders.
BitMEX is proud of its security measures, as it has not yet been successfully hacked, conducts 100 checks every second and stores all user funds in cold wallets.
The platform has an easy to use interface and contains detailed graphs of currency pairs, as well as several analysis tools.
Coinbase is a well-known and respected cryptocurrency exchange based in San Francisco, USA. The exchange has been around since 2012 and since then it has amassed a large user base and community trust. The platform is registered as an MSB with FinCEN, allowing it to manage money for cryptocurrencies in the UK, EU, US and other countries. The company also has an electronic money license from the British FCA (Financial Conduct Authority).
The exchange complies with consumer protection rules, so that it implements a number of measures to protect the funds of its users, and also has an insurance policy in case of loss due to hacking or violation.
While Coinbase is more focused on new traders, its sister platform Coinbase Pro includes advanced trading functions, but with more convenient commissions. Coinbase supports a limited number of coins, BTC, ETH, BCH and LTC, with three optional options.
Coinbase Pro supports more crypto, BTC, ETH, BCH, LTC, ETH, ZRX, BAT, with the same Fiat options. Credit card purchases are also accepted.
Binance
Binance is one of the most popular exchanges in the world of crypto with an impressive selection of crypto coins.
The exchange was originally based in China, and the company moved to Malta in 2019 due to pressure on it. Despite the fact that the platform was launched in 2017, it quickly rose to the number of the most popular crypto exchanges.
The platform takes its security very seriously, applying a number of security measures, including anti-phishing code, pseudonymization, PCI scanning, encryption technology using secure sockets, internal data access restrictions and many others. Binance supports hundreds of cryptocurrencies for trading on its platform, which makes it convenient for traders who want to diversify their portfolio.
Fees are extremely competitive and below industry average.
While Binance has no options, its affiliate platform Binance.JE (Binance Jersey exchange) allows British and European users to buy BTC, BNB, LTC, ETH or BCH with fiat currencies like EUR or GBP.
Binance also has the Binance.US platform, which is available only to customers from the United States.
Huobi
Huobi Global is a cryptocurrency exchange that first appeared in China, but it has moved its headquarters to Singapore in order to provide its customers with access around the world. Over the past seven years, the company has managed to successfully conduct operations in the cryptocurrency space.
The platform has about 244 pairs of cryptocurrencies, which provides a choice for all traders, even those looking for more exotic altcoins.
Huobi also has an OTC marketplace where you can easily transfer your funds from other Huobi accounts. The company has also launched various country-specific exchange platforms such as Huobi Korea, Huobi Russia, and Huobi Indonesia to meet the special cryptocurrency regulations imposed by these countries. HBUS is a Huobi affiliate that allows US investors to trade crypto.
Huobi is considered safe, with a high degree of data protection, which will require verification of identity and personal data when opening an account.
The exchange charges a fee in accordance with the average market standard. It supports purchases with Fiat options, with the exception of credit cards, but does not allow withdrawals in fiat currency. The crypto exchange has mobile applications for Android and iOS users.
Etoro
eToro is a regulated trading platform that supports many trading options such as crypto, CFDs, stocks, commodities, forex, ETFs and indices.
The platform operates from offices located in different places around the world and allows residents of more than 140 countries to trade with various assets and investment options.
eToro Europe Ltd is strictly regulated, licensed by CySEC (Cyprus Securities Commission), while all other regional branches are under the jurisdiction of the country in which they operate.
The exchange has a diverse range of financial assets on its platform. CFDs are the most commonly used cryptocurrency trading option including Bitcoin, Ethereum, Ripple, Litecoin, EOS, Binance Coin, Stellar, Cardano and many more. Users can fund or withdraw funds using a range of options, including bank transfers, credit / debit cards, and e-wallets (PayPal /Skrill).
Despite the fact that the platform does not charge a commission for each transaction, it applies other fees for its spread, overnight fees and withdrawal fees that may accumulate. This makes eToro one of the more expensive cryptocurrency exchange options.
The exchange boasts a convenient platform that is translated into 20 different languages. He also developed mobile apps for iOS and Android users to facilitate trading on the go.
EToro registrars will need to verify their identity before they can start making any transactions or making deposits.
The platform is considered safe, because so far it has not lost any funds for hacking or any other type of online attack. It uses Social Trading technology, called OpenBook, and allows users to follow or copy trading strategies of other platform users.
changenow
changenow is a cryptocurrency exchange that facilitates instant cryptocurrency exchanges.
In collaboration with leading exchanges such as Binance, Bitfinex and Bittrex, ChangeNOW intends to offer its users the most profitable exchange rates on the market.
The user interface was developed taking into account ease of use and simplicity, which allows it to be processed even by the newest traders. The platform is transparent, reliable and understandable to quickly convert cryptocurrencies without restrictions.
ChangeNOW is a non-custodial service, meaning it does not store users' crypto in their wallets. In addition, there is no need to register an account, and because users do not need to provide any personal information, your data is not stored on their servers.
However, in the case of suspicious trading activities, the exchange may offer you to provide identification documents in accordance with the KYC procedure of their geographical location.
The exchange supports more than 170 cryptocurrencies, including a wide selection of Ethereum-based ERC20 tokens. Along with more advantageous exchange rates, ChangeNOW also boasts fast transaction processing times of 2 to 40 minutes.
The platform also recently introduced Fiat payment system support, which allows users to encrypt data. It also applies a nominal fee (0,5% -1,5%) for converting your crypto.
Hack and predictor Aviator
This is our list that lists some of the best cryptocurrency exchanges that you can use in 2020. You will need to do your own thorough research to find the exchange that best suits your needs and price range.