What is a Crypto Exchange?
A crypto exchange is like any other traditional stock exchange except that it is all about cryptocurrencies or you can see it just as a digital marketplace. You have different Crypto Exchanges but they are all about buying and selling Bitcoin and many other Cryptocurrencies. You have different trading markets available but the main market for each Bitcoin and Crypto Exchange is always Bitcoin (BTC).
BTC/ETH would be for example the market where you can buy Ethereum with Bitcoin. Many exchanges have a staking function where you can deposit different coins either for a fixed time and then get paid something like interest which is then called staking. However, there are basically two types of exchanges: "centralized crypto exchanges" and "decentralized crypto exchanges". Centralized crypto exchanges are those where our coins are controlled by someone else and decentralized crypto exchanges work completely without a middleman.
How do bitcoin exchanges work?
Bitcoin Exchanges work quite simply, you sign up and then you may have to verify your identity. After the verification is completed you can use the platform completely and most of the time your deposit and withdrawal limit will be raised and you can also deposit with credit card or bank transfer after you have been verified with your ID. If you are using a Bitcoin or Crypto Exchange we also recommend enabling the "Google 2FA". What google 2fa is you can read here! We also strongly recommend you not to start any experiments and register with unknown exchanges! See also our top bitcoin exchanges list. There you will find the best bitcoin exchanges!
Decentralized crypto exchanges and how do Decentralized crypto exchanges work?
Decentralized exchanges, as the name suggests, simply work without a centralized exchange, meaning you never have to verify your data here and you can log in to any of these decentralized crypto exchanges or "DEX" with a wallet like MetaMask. The pioneer in this category would be "Uniswap DEX".
What are the best us based crypto exchanges?
There are many American crypto exchanges but as always we recommend using only the well-known and big bitcoin exchanges. The top bitcoin exchanges in the US are Kranken, Coinbase, and Gemini where the latter being one of the bitcoin exchanges that accept PayPal.
What crypto exchanges accept USD?
Actually, every crypto exchange has a USDT market but most American crypto exchanges allow USD deposits after you have verified yourself. At Bitcoin Exchanges like Binance, this is also possible after KYC and Binance is also one of the safest crypto exchanges that allow shorting!
What are the most popular crypto exchanges?
The most popular crypto exchanges are clearly Binance, Crypto.com, and BlockFi.
What are the best bitcoin trading strategies?
If you are already looking for Bitcoin trading strategies we must advise you against it because Bitcoin trading is for professionals who have been doing this work for years. Newbies must first learn a lot like a doctor who should not operate on the first-day human heart, you should not trade! But if you know what you are doing we recommend arbitrage, crypto day trading, and bitcoin day trading as the best strategies.
What is automated bitcoin trading all about?
There are many BOTS that you can buy and through your API key that everyone gets from the exchange, you can give the BOT access to your account but also give instructions on what to do! (For professionals only). A great alternative was created by Primexbt, where you can use the "Covesting" option and invest in the best traders on the site.
Are Telegram “crypto trading signals” legit?
No, those Groups are always scammers that dump on you and they also want a huge amount for Premium Memberships. If you see 50K+ Members in their Groups do not trust they are good! We followed 10 of the biggest Groups for weeks and just checked their results and they are 80% down in what they say! It's like a blind chicken also finds corn from time to time! Avoid Youtubers as those guys are more “Affiliate Marketers” that mention their Bonuses on Crypto Exchanges Signups annoyingly 20 times in a 10 minutes Video! It's just about making you sign up on an Exchange and trade so they make a commission. This is why these Youtubers will NEVER tell you the direction of the market but more “if '' that “then” that stuff aka guessing! If you are not a Trader, then the best strategy for you is to buy Bitcoin a HODL for 10 years!
Here are the TOP 3 Crypto Exchanges by Volume:
Binance is by far one of the best crypto exchanges for the reason alone Binance offers a lot and is the pioneer in many features in this industry! Binance is by far one of the best crypto exchanges for the reason alone Binance offers a lot and is a pioneer in many features in this industry! Features on Binance include Buy Crypto, 4 Crypto markets like ETH and BTC, Crypto and Bitcoin trading, Leverage Trading up to x125, Stacking, Loans, margin trading crypto, and very new NFTs. This top bitcoin exchange is also one of the friendlier arbitrage bitcoin exchanges which means transaction fees are lower than on other top bitcoin exchanges but also the incoming transaction gets accepted very fast! One of the top things IMO is the Software that you can download for Windows and Mac so you don't need to access Binance over the Homepage and you can easily login with the Software. This Exchange is a amazing alternative for Asian and European Traders!
Sign up to the largest Bitcoin Exchange by Volume
🥈 #2 - Bittrex - Top us crypto exchange, Investing in Bitcoin, Bitcoin Cash trading
Bittrex is a very old Bitcoin exchange but also one that has tried very hard to do everything right from the beginning in terms of regulation. Bittrex operates 100% under American laws which makes it very attractive for Americans who want to invest in bitcoin and other cryptocurrencies and want to be 100% secured.This crypto exchange is also one of the most secure, known for its self-proclaimed "next-level" security. With 5 different markets, it is also on a top-level. We can highly recommend Bittrex to all US-based people. Bittrex has a “bitcoin trading view” option where the charts are by Tradingview.
Sign up to one of American Bitcoin Exchanges
🥉 #3 - Kucoin - Crypto day trading, Bitcoin Futures trading, & Day trading Bitcoin
Kucoin, a Hong Kong based crypto exchange is a top address when it comes to crypto exchanges. Kucoin fees are very low and the crypto exchange is very trustworthy and even after a major hack no one lost their money but they were able to sort everything out! On the Crypto Exchange there are dozens of markets, margin trading, futures trading, stacking, loans, and many other features! We recommend this exchange to everyone who lives in Asia and Europe but also India and Australia are warm welcomed here.
Sign up to one of the Honk-Kong based Crypto Exchanges
What are the pros and cons of the most popular crypto exchanges?
PROS
- Fast Support
- Convenience
- Reliability
CONS
- Possibility of Hacking
- High Transaction Fees
- Money Supply Concern
Conclusion:
All in all, we think that after reading this article you will be a lot smarter than a beginner who has not done so. There are a lot of shady players in the crypto industry and that's why you always have to get smart by asking "google"!
In our opinion, you only need one or two good bitcoin exchanges to make any kind of strategy. Binance and Bittrex for example are enough so we don't cover 10 exchanges here but only the ones you need to trade bitcoin well, invest in bitcoin, and trade crypto.
