DIGITAL CURRENCY EXCHANGES
Poloniex Is one of the worlds leading exchanges and one of the most popular exchanges that has proven to be trustworthy in several years
To minimize exposure to hackers the customers deposits on Poloniex are stored in air-grapped cold storage while enough funds are kept online to make the experience for active traders seamless.
In their effort to protect their customers, the exchange maintain and apply monitoring and auditing systems that works all days, 24/7/365.
These security measures identifies and detects threats while the system build blocks and reports back to the support department before threats develops into a problem.
Goldman Sacs Group Inc. acquired in 2018 Poloniex with the expectancy to scale the platform further.
How to trade?
To trade on Poloniex you begin by depositing funds in the selected cryptocurrencies into your account balance. Certain wallets require different coins and a minimum deposit. Ones the deposit has updated your account balance you are ready to trade.
From there on, you navigate the platform by selecting the menu and the trading-pairs you wish to trade. Once you have selected your main trading pair you buy or sell by entering the amount you want to acquire for the lowest buy and sell price or by inputting the highest overbid.
Bitterex have long been considered one of the largest cryptocurrency-exchanges on trading pairs. Founded in 2014 the blockchain platform has earned a reputation for being fast, reliable with industry leading security for their customers and their hard earned funds.
The exchange also keeps customers’ wallets in cold storage for additional safety and, like Poloniex, the trade engine is designed to process lighting fast-trade execution with fast deposit and withdrawals.
Bittrex also ads new and innovative blockchain projects regularly, providing users with an extensive range of cryptocurrencies, for a more complete trading experience.
Shapeshift lets you transfer cryptocurrencies and exchange them to other altcoins for free without setting up a user account. By design, it requires a destination address and a refund address to create a transaction and first-time buyers can not make a purchase with fiat currency. However, traders who worry about keeping their coins in a third party wallet and don’t have a lot of requirements for the exchange, may find the established crypto platform quick and precise.
When Shapeshift launched back in 2014 their aim was to build a web and api platform, with a high level of digital privacy in mind, in this regard they succeeded. For regular users, this may be enough, but for traders who wish to keep an eye on their portfolios performance or for the individuals who wish to trade with a stop-loss, a full featured exchange might be the proper solution.
Among the biggest growing exchanges, Binance platform offers high performance transactions, industry leading volume and advanced security protocols for monitoring suspicious activities, securing user-accounts through verification and google authenticator 2fa
Since its launch in 2017 Binance has gained transaction, in reality this means that traders use its high volume exchange to push the prices higher for increased profits, and since its valuation has continued to outgrow it’s competition, it’s trading volume is beyond.
Why I Chose to use Binance
Binance is a great platform for both beginners and advanced traders, as it’s user interface is straightforward and easy to understand.