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One of the most powerful tools for earning is digital currencies exchange. Yes, they are also all unofficial (there cannot be others because it is a main blockchain principal of decentralisation), but the money flows passing through them amaze the imagination.
Those who understand the subject, namely exchanges (instead of or together with the exchanger of cryptocurrency), buy, sell and exchange bitcoins for other types of virtual currencies or conventional (fiat) money. Here, however, everything is somewhat more complicated than in the exchanges, but with a certain skill you can sometimes save money on exchanges or make money on speculation.
You, as a member of the exchange, will be free when choosing the direction of exchange necessary for you, or accept one of the already existing orders, or create your application (under the conditions necessary for you) and wait until someone wants to make a deal with you on it. The first option allows the transaction to be carried out quickly, but the second option, instead of losing time waiting, gives a chance to exchange for a more profitable course for you. That’s all, and the rest is already details that can vary on different stock exchanges.
And how does it work in the exchanger? Here you already interact directly with the service itself (and not with other people, as on the exchange). The exchange rate is set rigidly and within the limits of one exchanger it is possible to change it in the best for you only by persuading the administration to go to you for a meeting. Although, you are free to simply choose another exchanger with a more profitable course for you, but do not forget to check it through the reliable monitoring services.
The owners of exchangers earn on the commission, which is withheld from you during the operation and its size often depends your profit. As a rule, the rate of buying bitcoins in exchangers is quite attractive, but the rates of its sale or the rates of other cryptocurrencies may not be as optimal as on the best exchanges presented below.
BitFlip is a young but ambitious exchange from domestic developers. They work with popular cryptocurrency such as Litecoin (LTC), Ethereum (ETH), Ripple (XRP), DASH and Dogecoin (DOGE).
A value of the commission is generated dynamically based on the volume of the trader’s transactions for the last 30 days. The more you trade, the smaller the commission you have.
They, as newcomers, need to attract customers, and they do it with the help of low commissions for the transaction and input/output. You can replenish the account in the exchange with Yandex Money, Kiwami, WebMoney, Peyer, and from a number of other payment systems.
Binance Exchange is a modern cryptocurrency trading platform and, using it, users can safely and comfortably exchange digital currencies. The exchange significantly reduces commission. The basis is dated in 2017, but this did not prevent the exchange from acquiring a huge number of regular users and becoming widely popular. To date, the Binance Exchange is in the top 15 exchanges in terms of daily trading volume.
The main activities are blockchain assets. The company is headed by a well-known person in the bitcoin area, who worked in high positions in OKCoin, Blockchain.info and Bloomberg.
The creator and CEO is Zhao, before this he headed the technical department at Bloomberg and Blockchain.info. Trading pairs at the moment are more than enough and disappointed will not remain even the most fastidious user, and according to the trade turnover at the moment the Binance exchange takes the fifth place. The turnover is more than 0.6 billion dollars for the past day.
The popularity of the cryptocurrency market is growing every day, and often people ask themselves: where is it most profitable what is the best cryptocurrency exchange? There are specialized sites where users can sell their virtual savings. One of such sites is the HitBTC exchange created in 2013.
Suitable for beginners and experienced traders, HitBTC is the development of Estonian programmers, starting investments is about $ 6 million. At present, 330 currency pairs are traded on the exchange, and the turnover of trades is 496,364,069 USD.
The popularity of the exchange is explained by a number of advantages, which include the following features:
- a lot of available currency pairs;
- exchange provides input and withdrawal of funds in the fiat currencies;
- trade can be carried out without verification of the account;
- HitBTC provides users with a high level of security.
The exchange started operations in 2011 in San Francisco. Here you can trade not only with cryptocurrencies, but also with American, Canadian dollars, British pounds and Japanese yen.
Creators achieved the fact that Kraken was the first exchange of cryptocurrency, whose quotations began to be displayed on the Bloomberg terminal.
Kraken daily takes places from 5 to 7 in the world for trading volumes of cryptocurrencies.
The peculiarity of the exchange is that only the universally recognized cryptocurrencies can participate in transactions. Adding new ones is a slow process.
At the moment, Kraken trades in 68 trading pairs. They provide the exchange with a daily trading volume of more than USD 200,000,000.
As a rule, the amount of commission depends on the volume of trade transactions conducted over the last 30 days for this currency pair. Commissions are charged for each operation. So if you want to conduct a transaction on a pair of BTC-EUR, but the total amount of transactions does not exceed $ 50 thousand for the last 30 days, then the commission at the opening will be 0.16%, and at closing – 0.26%.
Exchange Cex was founded in 2013. The creators of the exchange do not hide their real location, they have a license to carry out their work. The site works in 6 languages (English, Russian, Italian, Spanish, Chinese and Portuguese), where you can see the history of the company. There are 27 trading pairs, including: BTC / USD, BTC / EUR, ETH / BTC, ETH / USD, ETH / EUR, BCH / USD, BCH / BTC.
The daily volume of trading is $ 90 million. Almost half of this volume falls on a pair of BTC / USD, as these currencies are most in demand on the world market. The exchange has pages on Facebook and Twitter.
Funds are transferred from payment cards, using bank transfer, and through Crypto Capital. Among the cryptocurrencies on the stock exchange there are Bitcoin, Ethereum, DASH, Bitcoin Cash, ZCash. Euro, British pounds, Russian rubles and US dollars are used as fiat money.
For full-fledged operation of the card, its binding to the personal cabinet is required. Any type of card is suitable, money is converted at this rate. There are restrictions on daily withdrawal (2 thousand euros) and monthly (50 thousand).
The basis is dated 2015 and initially the service positioned itself as an exchanger. To date, the resource is a large crypto exchange, where you can trade using more than 190 currency pairs. The advantages include:
– a high level of security, because of the technology of “cold storage”;
– withdrawal of funds requires a two-factor authentication;
– an operation is practically instantaneous, and the user at any moment can discover the status of his account;
– commission for the conclusion of the transaction only 0.25% of its amount.
It is suitable for both experienced and novice users. The only recommendation is verification with the help of passport data to access all the features of the service.
This multicurrency exchange exists on the market the first year. It offers the largest number of crypto pairs for exchange – about two hundred. Russian-language interface, a wide choice of ways to replenish the exchange purse, discounts on commission fees for large volumes of trade, voluntary verification, support for a partnership program. Good reviews about the work of the stock exchange are made by both professional traders and beginners.
Cryptocurrency exchanges provide good opportunities to make money, but not everyone will succeed. Financial literacy, constant improvement of the level of theoretical knowledge and practical skills distinguishes a business person from an inept newcomer who came to the exchange with money, but without the knowledge how to dispose of them properly.
We have provided cryptocurrency exchange list, the best of which will soon fall into the rating of the stock exchanges because new ones appear.