According to a recent report published by tokeninsights “Annual report of the cryptocurrency exchange industry for 2019”, the annual trading volume on spot markets was $ 13.8 trillion. To this value is added the 3 trillion dollars in derivatives.
Although there are over 300 crypto exchanges worldwide, 40 of them accounted for 82% of the volume of the entire market.
Of the 40, the world’s most popular are (in alphabetical order) Binance, Bitfinex, Coinbase and Kraken.
In Romania, according to surveys and analyzes made by our magazine, the most popular crypto exchages are LDV Bank and vTrader.
Launched in 2017, LDV Bank offers the possibility to purchase BTC and ETH in euros or lei. The site is built using state-of-the-art technologies, hosted in a enterprise-grade cloud solution, and SSL access is guaranteed through an extended validation certificate signed by DigiCert Inc.
Each client has a wallet for EURO, BTC and ETH that he can easily manage, and the platform does not charge any trading fees.
In October 2019, LDV Bank also launched Crypto Spots, locations where the public can instantly buy and sell Bitcoin and Ethereum through the traditional exchange offices. The service wants to support the use of cryptocurrencies through the ease of fiat-to-crypto exchanges.
Currently, there are four Crypto Spots locations, three in Bucharest and one in Craiova.
Open a free account at LDV Bank and test the platform.
The vTrader platform supports six cryptocurrencies – Bitcoin, Ethereum, Litecoin, Ripple, Monero and Dash. They can be purchased in euro (by bank transfer) or users can supply their wallets with USDT, BTC and Ethereum.
The platform has multiple layers of security to ensure customer safety, being protected from DDoS and Spam attacks, using the services provided by cloudflare.com and Google reCaptcha. Customer data is kept on a database with extremely limited access from the outside to prevent theft. Also, funds in cryptocurrencies are stored in cold wallets, whose private keys are not on the server.
In January 2020, vTrader also launched a mobile application similar to Revolut that offers the possibility to exchange fast and free cryptocurrencies between friends. In addition, the mobile version offers the option of viewing wallets and the euro deposit and withdrawal option. Cryptocurrencies can be transferred or requested from phone contacts with commission 0, including swaps (for example, ETH is requested against BTC).
Open a free vTrader account and test the platform.
Since its inception, the platform has grown exponentially, becoming one of the most popular crypto excages in the world. Binance is considered the platform with the highest liquidity and offers trading with over 200 cryptocurrencies. For regulatory reasons, there are separate platforms for US and Singapore users.
The company is based in Hong Kong, and its services are available to all countries. In the last year, Binance has integrated a number of local currencies, which simplifies the process of buying cryptocurrencies.
In addition, Binance introduced SAFU (Secure Asset Fund for Users), which separately stores 10% of trading fees in the form of a hack insurance fund. The decision proved wise because the platform suffered such an incident in May 2019, but covered all the lost funds using the SAFU fund.
Open a free account at Binance and test the platform.
One of the oldest exchanges in the crypto market is Bitfinex. It offers a complete spot trading platform for major digital assets and cryptocurrencies, including Bitcoin, Ethereum, EOS, Litecoin, Ripple, NEO, Monero and more. Bitfinex also offers trading services through a peer-to-peer financing system.
Due to its professional trading tools and the graphics it provides, Bitfinex has become the preferred platform for professional traders.
As a disadvantage, Bitfinex is not available in all countries – for example, it does not provide services to US customers. In addition, the platform was compromised in August 2016 and lost 120,000 BTC. The attackers managed to exploit a vulnerability in the architecture of the multi-sig wallet of Bitfinex and BitGo.
As a result of this hack, the company has recently upgraded its security architecture to prevent such incidents.
Open a free account at Bitfinex and test the platform.
Coinbase is one of the most popular and well known crypto platforms in the world. Registered in the US, the exchange offers the ability to buy, store and trade multiple cryptocurrencies with top security. Users can buy and sell digital assets both on the desktop version and through Android and iOS mobile applications.
According to the official website, Coinbase has over 30 million customers and a total trading volume of $ 150 billion.
The company also has a Global Digital Asset Exchange (GDAX) subsidiary operating in the US, Europe, UK, Canada, Australia and Singapore.
As a disadvantage, Coinbase has a very strict compliance policy and has frequently closed customer accounts even for minor offenses.
Open a free Coinbase account and test the platform.
Kraken was founded by Jesse Powell in 2011 and currently offers support for 17 cryptocurrencies.
The exchange accepts deposits in USD (FedWire), EUR (SEPA) and CAD (Wire & EFT). Like most other platforms, user accounts can be powered with multiple cryptocurrencies.
Kraken also offers an OTC Bitcoin office for large volume transactions. It also implemented a program to reduce trading fees with volume incentives based on the activity of the last 30 days.
It has a good reputation, is available worldwide and probably offers the best user support services. As a negative aspect, it has a hard-to-use user interface for beginners.
Open a free account at Kraken and test the platform.
I invite you to test the platforms presented in the article and choose the one that suits you.
THIS ARTICLE CONTAINS A REFERENCE LINK THAT HELPS FINANCING THE MAGAZINE. INFORMATION ON THE SITE DOES NOT REPRESENT FINANCIAL ADVICE. FOR ANY IMPORTANT FINANCIAL DECISION, CONSULT AUTHORIZED PROFESSIONALS. MORE INFO YOU FIND THEM IN TERMS AND CONDITIONS
Mining on RTX 3070. Overclocking, tuning, profitability, consumption: If you are interested in finding more…
Mining with GTX 1660, 1660 Ti, 1660 Super. Overclocking, settings, consumption, profitability, comparisons - If…
Mining with RTX 2070 and 2070 Super. Overclocking, profitability, consumption, comparison What the RTX 2070…
Mining with RTX 3060, 3060 Ti. Limitations, overclocking, settings, consumption, profitability, comparison Let's look at…
Alphacool Eisblock Aurora Acryl GPX-A (2022) with Sapphire Radeon RX 6950 XT Nitro+ Pure in…
In the ever-evolving landscape of business strategy, Bitcoin has emerged as a pivotal asset. With…
This website uses cookies.