Like the traditional currency exchange, digital assets also have the cryptocurrency exchange, where you can exchange your digital assets with other types of digital assets based on the existing value given. There are many exchanges in the world. However, Global Digital Asset Exchange (GDAX) and Binance are the most popular cryptocurrency exchange nowadays. If you are a newbie in this industry, you may be confused about how to differentiate cryptocurrency exchanges for wallet brokerages or crypto wallets. Wallet brokerages and crypto wallets allow you to sell and buy popular digital assets such as Ethereum and Bitcoin but in a small amount and exchange them for another digital asset such as altcoins. However, not all cryptocurrency exchanges use this kind of policy. Some of them also accept traditional currencies such as U.S dollars to buy cryptocurrencies. An example of this cryptocurrency exchange is Kraken, where you can purchase cryptocurrencies by paying with JYP, USD, GBP, and CAD. Besides, Kraken also provides you to trade with Ripple, Litecoin, and many more. More information: crypto.nl
Best Crypto Exchanges of 2023
Digital assets may still be popular and take several months for the traders to understand them fully. However, if you are a beginner in this industry, investing your money in it can be jeopardized. As your assets are digital assets, there will always be security threats to them. Scams may happen and will always occur. Investing and trading in digital assets will not always be secured and safe. The most crucial factors that people are worried about in investing or trading Bitcoin or other cryptocurrencies are its security and safety. Either you want to invest it in the long-term, trade periodically, use an anonymous name for the sake of privacy, or others, these following exchanges are the most popular and best ones you may choose to get the best service in investing and trading cryptocurrencies.
The following list is the best exchanges based on different types of exchanges. There are several ways in investing Bitcoin or other digital assets. Suppose you are interested in investing in digital assets; it is essential for you to choose the best exchange for you. Here are the explanations:
Best Overall Exchanges: Coinbase
From the overall methods and types of exchange, Coinbase is placed as the best cryptocurrency exchange. If you are interested in using this cryptocurrency exchange, you need to pay the charge of $0.99 to $2.99 depending on the dollar’s currency. Coinbase is the most popular cryptocurrency exchange in the United States. Founded in 2012, Coinbase has the full license and regulation for cryptocurrency exchange. Nowadays, Coinbase has operated in 40 different states and territories all over the U.S.
Best for Beginners Users: Cash App
If you are a beginner in this cryptocurrency world, you may try this application. Cash App is placed as the best application for cryptocurrency exchange, especially if you are a beginner. Cash App will charge you based on each transaction. This charge also depends on the price volatility and how the market’s condition affects the price charge. Cash App is basically similar to Venmo, a system that allows you to transfer a certain amount of money. Cash App allows you to draw your cryptocurrency to your existing wallet. Similar to the Robinhood, Cash App will enable you to invest at the same time. However, Cash App is better because you can draw your digital assets immediately, and you can purchase Bitcoin from this application.
Altcoin Best Cryptocurrency exchange
If you have understood how cryptocurrency works, you must have known what Altcoin is. Altcoin refers to all cryptocurrencies at the market except for Bitcoin and Ethereum. If purchasing Bitcoin is too expensive for you, you can purchase the Altcoin in this best cryptocurrency exchange for Altcoin called Binance. Binance obliges you to pay 0.1% if you are the makers and 0.1% for the takers’ side. However, if you use Binance cryptocurrency or BNB, the charge will be lower up to 25%. Established in 2017, Binance is mostly focused on developing Altcoin. Binance is suitable for people who want to invest in many Altcoin types. For instance, Binance offers at least 50 different cryptocurrencies while Coinbase is only 22 different types. Binance is the place where you can trade or exchange your cryptocurrencies other than Ethereum or Bitcoin to other altcoins and learn more about other cryptocurrency exchanges.
Best Decentralized Exchange: Bisq
There are two types of cryptocurrency exchanges, those are Centralized and decentralized exchange. If you do not want your digital assets to be maintained by the third party, you need to use the decentralized exchange (DEX). Bisq is placed as the best decentralized exchange application. If you use this software, you will be charged in BSQ or BTC. If you are using Bitcoin for the payment fee, you will be charged 0.10% on the maker and 0.70% on the taker side. While you are paying in BSQ, you will be charged 0.05% for the maker and 0.35% for the taker side.
Top Cryptocurrency Spot Exchanges
Speaking about crypto spot exchange, there are numerous spot exchanges where it has the most crowded activity. Spot exchange refers to a place in which the sellers and buyers come together to trade or exchange cryptocurrencies. As long as the right and a profitable bid is placed, the trade can immediately happen. Cryptocurrency exchanges happen 24/7. You can trade every time, draw your fund anywhere, and many more. The following list is the latest top cryptocurrency spot exchanges:
- Coinbase Pro
- Huobi Global
- Bitfinex, and many more
Those five are the top crypto spot exchanges in the world. Each has different capitalization and different fiat-supported.
Cryptocurrency Exchange to Buy Bitcoin and Ether
Choosing cryptocurrency exchange is important as this will affect your payment fee, security, and many more. As the best cryptocurrency exchange overall, Coinbase can be our benchmark. If you want to buy Bitcoin (BTC), you only need to register your account to Coinbase and pay the BTC with your debit card. Similar to BTC, you can also buy Ethereum (ETH) with the same step on Coinbase. You can also purchase Bitcoin and Ethereum on other cryptocurrency exchanges such as Binance, Kraken, and many more.