This question originally appeared on Quora, the knowledge sharing network where compelling questions are answered by people with unique insights.
Answers are by Louis Martin, Vicky Barker, Neil Goldsmith, Charvie Malhotra, Steve Austin, Aanjana Patil, Jack Devid, Kevin Martin, James Block and Mikoshiba Yuki.
Note: On Jul. 4, Binance, the world’s largest cryptocurrency exchange by trading volume, suspended trading services following irregular transactions related to Syscoin, a distributed network token based on a fork of the bitcoin protocol. The issue has since been resolved following a brief maintenance period, and trading has resumed.
Answered Jul 6, 2018
If you haven’t heard of them already, Covesting is an outstandingly secure, user-friendly cryptocurrency copy trading and exchange platform.
The platform is designed with all of the features you expect from the current industry leaders with the addition of the most technologically advanced and professionally handled infrastructure.
There are a few major keys that separate Covesting from the pack, and what I believe will make them the cryptocurrency industry leader:
1. Covesting rewards both pro traders and beginners, by enabling users to copy-trade other successful traders. The pro trader receives an 18 percent success fee for allowing people to copy them, and the trader who copies profits on the experienced traders’ success. The success fee is only deducted if the trade is successful. Anyone can share their trade portfolio and allow others to copy them based on their previous performance.
2. The platform abides by the highest standard of legally complaint and regulatory security procedures, with the company having obtained a DLT license in Gibraltar which follows the most stringent policies. A DLT provider Is required to have systems in place to prevent, detect and disclose financial crime risks. The majority of the platforms assets are stored in cold storage. Only the amount necessary for immediate transactions are made available so assets are safe and protected.
3. The intuitive, easy to use platform knows what traders want and need to be successful. In addition to the exchange and trading platform, Covesting offer an informational and educational site and crypto intelligence portal, a liquidity aggregator, algorithmic trading and operations with derivatives.
Covesting is live and currently in its beta phase, with the launch of the official & final alpha version coming shortly
Answered Jul 5, 2018
In our view here at Dacxi there are two main types of crypto exchanges. Firstly, Trader Exchanges. This kind of exchange is designed for professional or experienced traders. They typically have complex and intimidating user interfaces, technical trading tools and are not suitable for new people just starting out on their journey into crypto. Binance and Bittrex are examples of Trader Exchanges.
Secondly, Wallet Exchanges. These exchanges are designed for new investors. They have a simple user interface, support leading crypto coins and are focused on a mobile wallet. An example would be Coinbase. This kind of exchange is easy to use, but they lack an effective ‘Investor Support Community’.
Here at Dacxi we think there’s a need for a new category of exchange called a “Community Exchange”. This is a new kind of exchange model that provides the knowledge and support that new mainstream investors need to invest in crypto. A Community Exchange is an exchange that is simple to use and comes with a dedicated community platform that provides new investors with the knowledge, tools, discussion and learning resources they need to engage with crypto assets in a safe and responsible way.
One of our goals at Dacxi is to disrupt the crypto exchange market. In fact, we’d like to be the number one community exchange brand in crypto. If we can achieve this, we think we can help solve the mainstream adoption problem. Our mission is to help onboard the next wave of mainstream retail investors into crypto by empowering them to invest in a safe and responsible way.
Mainstream retail investors have two key needs that must be met before they will enter the market. They need exchanges that are friendly, simple and easy to use, and they need the support and confidence that comes from a dedicated community platform that provides engaging content, discussion, and high quality educational resources. This is the problem that Dacxi will solve. We estimate that the size of this market is up to 500 million new investors by 2022 and worth 1 trillion dollars. And that’s why we think the Community Exchange model is what is needed for mainstream investors to get comfortable with using crypto exchanges.
Answered May 22, 2018
This is the best cryptocurrency exchange in my opinion: KuCoin
They offer a great customer service, bank-tier encryption (high security) and a good user interface. It’s an Hong Kong-based cryptocurrency exchange distinguished by its rewards currency, KuCoin Shares (KCS), and its exceptionally wide range of cryptocurrencies. Its fees are also fairly reasonable and lower than many other exchanges.
I choose KuCoin because:
Fork: They support most of the Forks done in the past few years.
Less Fees: You can pay with KuCoin Shares with a 50 percent discount on trade fees.
New Coin Listing: This exchange supports every popular coins and always list potential new coins.
Referral Program: The referral program seems good.
Answered Jun. 4, 2018
To help you out I have summed up the top five blockchain exchanges.
Coinsquare
Coinsquare is a Canadian-based exchange which uses similar technology to the New York Stock Exchange. SSA and 2FA enabled, it has a 95 percent cold storage policy on all digital coins. It has good software engineers, designers, account managers that work diligently to create a better user experience. Investors can easily trade Bitcoin, Ethereum, Litecoin and many more.
Binance
Binance is one of the fastest growing exchanges. (See note at the top of this article). Capable of processing 1,400,000 orders per second, it supports all modern gadgets, multiple coins and hence assures a seamless experience. It also provides multiple language features to users, thereby making it easy for them to trade. The support of many financial partners adds to its reliability.
Kraken
San Fransisco based Kraken was established in 2011. The feature that sets it apart is that investors can trade in Canadian dollars, U.S. dollars, British pounds and Japanese yen. Supporting multiple altcoins, it also offers many user friendly features. Trusted by thousands of investors because of it’s reasonable exchange rates, low deposit fees and worldwide support.
Poloniex
Established in 2014, Poloniex has become one of the largest exchanges in a short time. Features like advance tools, chat box and real time data analysis for traders are useful. Processing fees are low, and it also offers a BTC lending facility to users.
Bittrex
Bittrex is a U.S.-based platform designed exclusively for traders looking for lightening pace and real time executions. It has adopted multiple cutting-edge security features to assure complete safety of trading. It also supports multiple coins.
Answered Jul. 3, 2018
There are many cryptocurrency exchange platforms such as:
CEX.IO
Binance
Kucoin
Bittrex
Bitfinex
Poloniex
These exchanges have their pros and cons. Most of the transactions are made through the Binance platform. It is not a tough task to create your exchange. A company that develops the finest exchange platforms is Blockchain App Factory. They build secure and reliable cryptocurrency exchange platforms. The features include connection to external exchange, wallet integration, escrow systems and more.
Answered Apr. 27, 2018
In this today’s modern and digital world, everyone wants to experience technology and upcoming trends. Investing in cryptocurrency is one of them. The invention of cryptocurrency has led to various businessmen and investors making a profit. However, knowing all the detailed information and technical know-how of where and when to invest is much needed.
A cryptocurrency exchange is a means where you can make all the related transactions online such as buying, selling, trading or investing in cryptocurrencies. Keep the below mentioned points in mind while deciding on a cryptocurrency exchange.
– Go through the payment methods of the cryptocurrency exchanges as you may not want any inconvenience in the procedure, especially when making or receiving a payment. Don’t go for that exchange which has limited payment options.
– Find a cryptocurrency exchange by searching online and going through the various reviews from recognized websites.
– Before joining a cryptocurrency exchange, make sure that you have gone through all the fees-related information such as deposit, transaction and withdrawal fees mentioned on the website.
Answered Mar. 31, 2018
You should try Coinswitch.
1) CoinSwitch is an exchange aggregator. They have partnered with many leading exchanges like Changelly, ShapeShift, Evercoin and Cryptopia, to provide the best exchange rates to users.
2) It supports more than 275 cryptocurrencies and over 45,000 pairs for conversion.
3) You can compare rates of different exchanges in a very intuitive user interface which always gets you the best price.
4) It combines coins available on all major exchanges. So people don’t have to worry about which exchange supports which coins.
Answered Apr. 23, 2018
It’s very difficult to tell the best exchange and also when a coin is going to rise and what will be the reason.
The best way to increase you profit in cryptocurrencies is to learn about the exchange and coin before investing.
Don’t go with market hype to make your investment decisions. Read about the coin, the problem it is going to solve, the team behind it and then take your decision.
Answered May 4, 2018
Binance is definitely the best exchange platform on the market.
The huge advantage lies in the optimization for beginners and more advanced users.
You can see the situation on the market, what changes happened recently, etc.
Also, you can choose different types of wallets including a secure wallet and a public wallet.
Every trade has a 0.1 percent fee to maintain the service, but if you use BNB, you can get a 50 percent discount.
Many cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ark are available on Binance.
Answered May 20, 2018
My favorite cryptocurrency exchange is not one of the large exchanges like Binance. There are some smaller exchanges but with great potential that are also worth trading on. FatBTC is an old Bitcoin trading platform established in 2014. It provides digital assets and legal currency trading services to players around the world. It has branches in Canada and Hong Kong. It currently supports bilingual Chinese and English and conducts business in Japan, South Korea and Singapore.
FatBTC has advantages in terms of security and currency richness. It is known for fairness, and enjoys a good reputation in the player group due to the fees, and is currently the largest trading platform for DOGE.
What’s the most important is the safety and fee.The fee of FatBTC lowered withdraw fee much more than ever from April 1st which can let you earn more.
If you are looking for a good experience and a safe crypto exchange platform, perhaps you should try FatBTC
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