Are you looking to trade Bitcoin, Ethereum, Ripple, and & other cryptocurrencies? If yes, then you will need a crypto platform to buy and sell. Crypto exchange is a platform for operations with digital assets such as swapping, purchasing, selling, etc. Cryptocurrency exchange may be of two types: centralized and decentralized. Like any financial institution, the first type has a classical governance structure. Clients have to provide their documents and pass KYC verification to access all the investment tools on a centralized exchange. Centralized platforms track suspicious transactions and monitor any activity that may harm the site and other clients. That is the main reason why centralized services are most popular among users. Such exchanges store users’ assets on their servers and provide a high level of protection.
Decentralized exchanges are, in fact, intermediaries between users who swap digital currency at their own risk through their crypto wallets. Such sites are also common, but mostly among experienced investors and traders.
What is the best cryptocurrency exchange for a beginner in this industry? The answer is a centralized platform.
How to pick the best exchange to trade cryptocurrency?
When looking for the best cryptocurrency trading platform, there are some requirements. Here are some factors to consider when choosing an exchange:
User-friendly interface:
Beginners might face some difficulties when trying to trade for the first time; functions and tools might look unclear, creating a negative user experience. It is recommended to pick platforms that are easy to handle, that offer demo accounts, and educational material and help learn more and practice more. According to reviews, WhiteBIT exchange is the best exchange to trade cryptocurrency for beginners. It offers high-quality and efficient tech support in Telegram chat.
The number of trading pairs:
That’s another thing users should consider, for if there are no needed digital assets in the platform list, there’s no point in registering there. The WhiteBIT exchange offers over 400 trading pairs.
Daily Trading Volume:
Significant trading volume symbolizes a lot of users every day, which, in turn, means high credibility of the service. The daily trading volume of WhiteBIT is $976.00M.
Conditions for Depositing and Withdrawing Funds:
The opportunity to buy crypto with fiat and through a bank card. It is necessary to pay attention to fees charged from this or that operation. The standard trading fee on WhiteBIT is 0,1%. The exchange allows buying crypto with fiat.
Safety:
Credible exchanges take care of their clients’ investments and build a solid protection system for their assets. The WhiteBIT exchange keeps 96% of users’ assets on cold wallets.
Following these factors, WhiteBIT is the best exchange for cryptocurrency.
This post was last modified on April 29, 2022 3:39 PM