The boom in cryptocurrencies in early 2021 attracted extensive interest in the digital coin industry. Many newcomers are still not aware of the convenient, safe, and profitable ways to convert cryptocurrencies. It is more than convenient to tell the differences between cryptocurrency broker vs exchange. If you do, you can say you’re on the right path. Make sure you nail the fundamentals to come up with the best decision. Here are TOP 5 sites for you to perform a crypto exchange.
Binance
Binance crypto exchange was launched in July 2017 by programmer Changpeng Zhao. Previously, he has worked on another crypto project — the OKCoin trading platform.
Identity verification is required for full-fledged work on this site. The project also launched a decentralized version — Binance DEX. The platforms differ in their approach to coordinating trades. The decentralized exchange has fewer working instruments and trading pairs along with a higher level of security.
Today, there are 965 trading pairs in the Binance product line, and it is ranked 1st in terms of trading volume by CoinMarketCap. The platform interface has been translated into all the most popular languages of the world. There are various ways for users to buy a cryptocurrency for fiat money.
The project is registered in Malta, the regulator claims Binance does not have a local license. This was the reason for discussing the location of the company’s headquarters.
CoinEx
CoinEx digital asset exchange was founded in 2017. Here you can buy a cryptocurrency for fiat money maintaining anonymity. The site stands out by a wide range of tools available for work.
You will need to register to work on CoinEx. It is enough to indicate an e-mail address and confirm the creation of an account using a code the system will send to the specified e-mail.
Godex .io
This is a decentralized platform, demanding neither registration nor verification of identity. You don’t have to worry about the safety of your personal data when exchanging digital currencies at Godex.
The platform supports almost all cryptocurrencies. You need to use the BTC to ETH converter located on the main page of Godex.io to exchange assets.
The main feature of this platform is monitoring rates on all popular exchanges and providing the best price. The minimum exchange amount is 0.005 BTC with no maximum limits provided which is why major players choose Godex.
Bitfinex
The exchange was founded in 2012. The project is mainly focused on exchange and margin trading and margin financing.
The platform is registered in the Virgin Islands. Access to all the site’s functionality, including fiat account replenishment, requires user verification. The purchase of assets from bank cards is available.
The company is working on advanced technical solutions. Bitfinex launched a service for the automated detection of suspicious transactions at the end of March 2020. A little later, the platform gained functionality for cryptocurrency staking.
To date, there are 299 trading pairs on Bitfinex, the most popular is BTC/USD. It ranks 71 in terms of trading volume data by CoinMarketCap ranking.
OKEx
The exchange was launched in January 2014. Purchasing cryptocurrency requires identity verification. The project’s token is OKB. The company is also creating its blockchain and developing trading solutions for derivatives.
In March 2020, OK Group, the owner of the OKEx brand, received a license from the Japan Financial Services Agency (FSA).
As of press time, 539 trading pairs are available on OKEx. The most popular is BTC/USDT. The platform is ranked 15th in the CoinMarketCap rating.
On OKEx, users have access to services for buying digital assets for fiat. The project is registered in Belize.
Conclusion
This is only a small part of the cryptocurrency exchanges. The vast majority of sites require identity verification. Thus, if anonymity is prior for you, check out Godex. You can’t avoid the KYC procedure on one of the centralized exchanges if you are aimed to become a professional trader though.
