Here is another article that can serve us with useful information – let’s check out the list of the best cryptocurrency exchange and trading platforms. Cryptocurrencies were introduced to the world in 2009 when Bitcoin was launched. A cryptocurrency represents an asset that acts as a medium of exchange for different transactions and it is usually decentralized and uses cryptography to secure the transaction.
Cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple has become extremely popular, the demand for them has increased since their launch. the popularity of Bitcoin and other cryptocurrencies has led to many frauds and scams and one of the most common way to steal cryptocurrencies is through exchanges. In 2014, Mt. Gox, a Japan-based Bitcoin exchange that handled 70% of all Bitcoin transactions worldwide closed its platform and file for bankruptcy protection.
Now without a further ado let’s see what Insider Monkey has investigated for us. We have picked three of best cryptocurrency exchange and trading platforms from their list.
The first one is Bittrex that is based in the US and it is a regulated exchange that has a large trading volume and offers over 250 cryptocurrency pairs. To ensure safety Bittrex’s platform has two factor authentication. Bittrex also conducts audits on new cryptocurrencies to ensure traders that the transactions are safe and legal. However, Bittrex doesn’t have pairs that include fiat money (US dollars, euro, etc.), but some users can buy cryptocurrencies using a wire transfer. The second item on our list for now is Kraken. Founded in 2011, Kraken is the largest cryptocurrency exchange based on the euro volume and liquidity. It offers many cryptocurrencies, including Bitcoin, Ethereum, Monero, Litecoin, Ripple, Zcash, Dogecoin, among others, as well as US dollars, Canadian dollars, British pounds and Japanese yen. This makes Kraken the go-to platform for international traders. On the downside, the platform is complex for beginners and it has many negative reviews online. At last, but not least, we should consider CEX.io that started in the UK as a Bitcoin exchange in 2013, but has expanded to include other cryptocurrencies. The platform allows trading among cryptocurrencies and convert them into fiat money. CEX.io is also registered with the Financial Crimes Enforcement Network and requires users to verify their identity. Moreover, CEX.io uses Fill-or-Kill transactions, which means that as soon as you place an order, it is executed, as opposed to other exchanges where you have to wait until someone is willing to buy or sell Bitcoins.
For any further useful information, read Insider Monkey’s article about 5 best cryptocurrency exchange and trading platforms.