Krypto Exchanges, which ones are there?
Crypto currencies are becoming more and more popular and well-known, but to buy such a currency you need so-called Exchange websites. On such sites you can buy, sell or trade different coins. There are many different providers who provide this service. On each platform, fees are charged by the operator for the provision of the site. These always vary in height. There are also big differences when it comes to user-friendliness. The level of trustworthiness to the community also varies, so watch out for fraudsters. Depending on requirements and needs, a provider is suitable or unsuitable. The following article lists 5 different providers.
Kraken offers trading in a total of 17 different crypto currencies, including XRP, XMR and XLM. Direct trading against the Euro as well as margin trading is possible here. In addition, you do not need your own wallet. However, the site is quite unreliable due to constant performance problems. The consequences are long charging times or partial complete failure. That can be quite annoying. It may be difficult for beginners to find their way around octopuses. The provider also charges a fee of 0.25% when trading coins.
On Bitfinex you can trade a lot of different coins. Among others Bitcoin, Ethereum, Litecoin, NEO, IOTA, Ripple and many more. This makes the site attractive for a broad mass. Bitfinex offers one Euro deposit and trading from 10.000€. Margin trading, as well as lending is possible. Disadvantage is, however, that you can only create a new account with a deposit of at least 10.000€. Furthermore, the German language is not supported and the operation is quite complicated, since the platform is more suitable for professional persons. Fees of 0.2% apply.
This platform offers trading of Bitcoin, Ethereum, Litecoin, NEO, IOTA, Ripple, Stellar Lumens and many other coins. A total of 80 crypto currencies are tradable. Binance is the largest Exchange platform worldwide and the German language is also supported. A big disadvantage, however, is that it is not possible to deposit money. Trading is only possible against BTC, ETH, USDT. This means that you have to deposit coins to trade. Although the site supports the German language, support is only available in English. Fees of 0.1% apply.
Click here to log in to Binance.
GDAX offers trading in Bitcoin, Ethereum, Litecoin. Customer support is very good here, as is security. Furthermore, the community is very trustworthy and the fees on GDAX are quite low. It is also possible to pay by credit card. Negative is, however, that currently only 3 different crypto currencies can be traded and the site is not really friendly for beginners. A mobile app is also not available.
Click here to log in to GDAX.
Security is very good at Bittrex, and it's pretty easy to find your way around the site and many functions are automated. More than 190 different coins can be traded on Bitrex. Registration is simple and easy. Also the speed of the site is good. However, problems with customers often take a very long time to resolve. Besides, you have to be careful of scammers. Many use new crypto currencies to withdraw other people. Group A buys a large quantity of a coin at a low price, which increases the value of the coin. Another group B recognizes the increase in value and buys coins at a high price. Then Group A sells all coins at a higher price and the price drops. Now Group B has many coins at an affordable price. Therefore, caution is advised with this provider. Fees of 0.25% apply.
Bitmex is a true, pure trading platform. Here you only trade the values, but not directly the coin.
Bitmex offers a leverage of up to x200. This means that if you bet 1 BTC on the trade, you trade at 200 BTC. However, it should be noted that even small movements in the market in the wrong direction can be a very bad end to your own trade.
To log in to Bitmex click here.
In summary, there are many different providers with many different advantages and disadvantages. Which one is the best, everyone has to decide for himself. If you are looking for a platform with low fees and many different coins, Binance is certainly not a bad choice. However, if you want to deposit with money, you should choose another provider. But then the fees are higher and the number of different coins is also limited. As a beginner, it is better to use a user-friendly, secure, trusted site to gain experience in crypto currencies. If you already have this experience, it is certainly not wrong to take a look at the other providers.