The best exchanges by far are the legitimate ones. Now I know this is going to sound silly, but I’ve been around for a while and the one’s that I’ve gravitated to more are those that were easy to use and not that hard to navigate through. Like when on bittrex they had a full order buy/sell button that was super easy to use for a nooby noob like me at the time.
You’ll get to know the good exchanges because they will give you a relatively seamless experience and good benefits to using them. Not that you will win all the time with your trades, or at all, but the user experience will be pretty smooth.
Beware of the exchanges that are clunky and don’t trade much. Look out for low volume trading and also really hard to navigate experiences. It means that you’re either going to be scammed out of your money, or you’re going to not trade any volume at all because it’s relatively new and small. So stick to high volume and easy to use exchanges, that’s my experience.
What are the best exchanges?
Let’s start off with Binance. Binance is my favourite of all of them because believe it or not this wasn’t an OG exchange. Back in the day there was only really Poloniex and Bittrex to choose from, and several much smaller exchanges with very low trade and little interest. Binance worked its way up from being a not-muched talked about exchange to being one of the crypto-leaders in the industry.
There’s several things about Binance that I like.
- Their BNB coin (Binance coin) is a profit sharing (and dividend sharing) coin that if you invest in it has only gone up in popularity since inception. It’s expensive to buy right now, but that’s nowhere near what it will be in a years time. You see Binance buys back its coin and burns them. That way it reduces the supply, plus increases the website
- Their exchange has ways to earn too. You can invite your friends and have a share in their trades.
- You can stake coins on Binance. If you send in say 1000 TRX for example and stake them, then you will earn a share on that.
- There are lending options on Binance too — so you can earn or lend from your crypto.
- You can buy btc with a credit or debit card from Binance. A really easy way to buy up some crypto if you don’t have the means elsewhere.
There are more than a few options on this exchange. It’s not just one of the best exchanges out there but it’s also one of the leaders in staking, lending, and cryptocurrency with their own coin.
Kucoin exchange is one of the better ones
Kucoin is up here with the best of them because of its growing options, referral programs, staking options, lending and growth programs in the exchange itself.
When Kucoin first started in this sphere it was just a small, little exchange. But now it’s gone through a super-charged growth period, and now we have what is in front of us. An excellent exchange. Just like Binance, this one has increased tremendously over the years.
Some of the awesome options you have at Kucoin are:
- You can refer friends and get a cut of their referral bonuses
- Hold Kucoin and get a cut of their coin profits
- Leverage your crypto up to 100x with superior trading
- Proof of stake holdings, so like the same with Binance you can stake your coins.
So again, it’s not just an exchange but a multi-holdings experience. If you plan to hold a lot of Kucoin then you’re onto a winner there. Kucoin is by far one of the best exchanges out there.
Next I’m going to mention Bittrex
If you’re a Steemit fan then you’ll have probably heard of Bittrex. Bittrex was one of the very first exchanges to hold Steem, and one of the reasons it grew was through the heavy use of Steem coin. In fact Bittrex was one of the very fist well used, and well loved exchanges out there. Noob friendly, and very easy to use.
Alas they’ve changed it now and it’s quite a bit harder to make trades than it used to be. If you’re new to the game then this place probably isn’t the place for you. I’d suggest starting off easier at first before you go all in to the more difficult exchanges.
What benefits do you get from trading with bittrex?
- Very secure trading
- Very high volume — some of the highest in crypto
- Only an exchange so it’s dedicated to trading
Yep, if you just want to trade and trade hard then this is probably the place for you. But remember, you have to be verified to trade. So you’ll need that ID with you.
And last but not least — CEX.IO because it’s been around since I have
Thinking about it realistically CEX.IO has been really diverse in their strategies towards cryptocurrency trading. There once was a time that you could cloud mine bitcoin from this place for a reasonable price and make a nice profit. Sadly, as the price went from $1000 per Bitcoin all the way down to $150 then they realised that their business model wasn’t solid enough. That being said this is 2020 and they are still alive and kicking and trading large amounts. That’s worth a mention in my eyes!
Benefits with CEX are as follows:
- You can sign up via Facebook. Only exchange I know that does that.
- High volume trades — lots of volume to spent, or buy with your crypto.
- Has a nice referral program too! Earn more when you invite your friends!
So yeah. Been around for a long time, so it’s definitely stood the test of time.
All in all don’t use too many exchanges
My advice is to pick one that deals in your favourite crypto and stick to it. No sense using a bunch of exchanges and forgetting all those logins. You’ll no doubt find one that you love and stick with that one.