Cryptocurrency exchange is a place where we buy, sell and trade cryptocurrencies against fiat currency (USD, Euro…) or other cryptocurrencies. This article features the best cryptocurrency exchange list worldwide.
It provides a detailed overview of the major attributes of the cryptocurrency exchange and rates them accordingly.
Cryptocurrency market evolves around cryptocurrency exchange. Each cryptocurrency exchange differs from other cryptocurrency exchange in their primary role, features, quality of service, and most importantly user experience. Hence choosing a right cryptocurrency exchange can be a tedious job.
But this article provides the detailed overview of the features offered by the platform. Hence helps you choose the right and best possible cryptocurrency exchange which serves your purpose.
Types of cryptocurrency exchange
As I said above no two exchange alike. They differ according to their primary purpose, features, and services offered. I have categorized cryptocurrency exchanges in three parts
- Cryptocurrency trading platforms –
These are the more traditional type of exchanges “similar to the stock exchange” where you trade altcoins at an open market price. These type of exchanges charge a tiny amount of fee for a transaction.
This type of exchange allows you to trade cryptocurrency against another cryptocurrency. They provide a trading platform with advanced trading tools like coin price charts, margin trading etc.
Cryptopia, Binance, Bitmex are the prime examples of these type of exchanges
- Cryptocurrency Brokers
Cryptocurrency Broker is kind of similar to cryptocurrency trading exchange which allows users to buy cryptocurrencies at a slightly expensive price than an original market price of the cryptocurrency with Fiat currency like USD, Euro, AUD, INR.
Brokers work as the third party service which adds their premium to the original market price of the cryptocurrency.
These exchanges work like wholesalers which buy the product at wholesale price and sell at their own price tag. Most cryptocurrency brokers are also a trading platform with basic trading tools.
Changelly, Cex.io, and Coinbase are few of the examples of cryptocurrency brokers
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- P2P exchange (Peer to Peer exchange)
These type of exchanges act as a middleman between the buyer and the seller and let them trade at whatever price they want.
Local Bitcoins is a prime example of these type of exchanges. The best part of these type of exchanges is that you have the option to buy and sell the coin using any payment method including cash.
To counter the risk associated with the peer to peer transaction. Exchange use escrow service which holds the cryptocurrency til the confirmation of payment by both parties...continue reading best cryptocurrency exchange list with a detailed overview of their features