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Cryptocurrency exchanges is a proposition for traders who want to have access to solutions tailored to their needs. A functional platform, many tokens in one place, passive earning, and even financial leverage - all this and more are offered by companies from the crypto exchanges industry. But what is worth paying attention to in order not to choose "wrong"? What are the differences between the offers of exchanges?
Selected cryptocurrency exchanges
The decisive number 1 in terms of volume and popularity in the world is the stock exchange Binance. The company quickly gained dominance, which it successively demonstrates, expanding its offer practically every month. The stock exchange, in addition to the standard purchase of cryptocurrencies, also offers trading through futures with high financial leverage, as well as the possibility of obtaining passive income through the so-called crypto-loans. The list of products is constantly being expanded. Customers have at their disposal launchpool, NFT, auto investments, double investments, possibility of obtaining a card for the account, copy trading and P2P transactions.
The cryptocurrency exchange that is hot on the leader's heels is Bybit. The company has focused heavily on development in recent years and has surpassed Binance in many respects, which has attracted a multitude of users. Even though the application and website are very similar to the competitor, ByBit seems to have done everything better. Here we have access to a similar range of additional services, i.e. futures contracts, options, auto investments, bots, cryptocurrency loans, NFTs, new token farming and account cards. But in addition, we receive lower commissions, trading using artificial intelligence (HandelGPT), and even possibility of concluding transactions from the MetaTrader 4 platform.
The stock market is very popular among European traders Zonda Global (until November 2021 as BitBay) - one of the first players to enter the Polish market. Although the company is registered outside of Poland, it can be seen that it focuses to a large extent on the needs of domestic traders.
Crypto.com, the Hong Kong-based stock exchange, is a decent competition for the above-mentioned companies. A large number of available cryptocurrencies, FIAT currencies, stablecoins, NFT, very competitive commissions and a number of additional services have already resulted in over 10 million users. In addition to standard spot trading, futures and margin trading are available. Like Binance, Crypto.com offers crypto-loans and an account debit card.
Cryptocurrency exchanges - Comparison of offers
List of offers 2024
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 |
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| Country of Registration | British Virgin Islands (BVI) | Estonia, from 11.2019 (formerly Malta) |
Malta | Hong Kong |
| Foundation year | 2018 | 2014 | 2017 | 2016 |
| FIAT currencies | YES | YES | YES | YES |
| Available PLN | YES | YES | YES | YES |
| Stable coins | YES | NEVER | YES | YES |
| Number of instruments | approx. 300 | approx. 50 | approx. 400 | approx. 85 |
| Futures commission | 0.075% (or less) 0,03% (MT4) |
from 0,1% | 0,1% (or less) | 0,036% - 0,144% |
| Financial leverage | 1:100 (futures) | - | 1:1 - 1: 125 (futures) 1: 3 (margin) |
1:50 (futures) 1: 3 (margin) |
| Own token | - | Binance Coin (NBB) | CryptoCoins (CRO) | |
| Extras | MetaTrader 4, API, Crypto loans, Staking, NFT, Auto Invest, Copy Trading, HandelGPT, Options, bots, account card | immediate transfers, card to account | API, Crypto loans, Staking, NFT, Auto Invest, Farming, P2P, Copy Trading, Options, bots, account card | account card, Lending, Staking, NFT |
| website | www.bybit.com | www.zondaglobal.com | www.binance.com | www.crypto.com |
Cryptocurrency exchanges and security
- Licenses and permits. We should start with this. Before you decide to set up an account, be sure to check whether the exchange has any license to run this type of business. Regulations regarding the cryptocurrency market only apply in some countries. The most frequently chosen destination for business registration by crypto entities is Malta due to the liberal regulations and friendly policy. Estonia and Liechenstein are also gaining popularity, encouraging them with favorable tax conditions. Obtaining a license by a given entity is an indication for us that the company wants to run its business in a regulated, stable and at an appropriate level. At the moment, no country provides security in the form of a guarantee fund for cryptocurrency clients' funds. After finding information about the company's registration number on its website, be sure to check whether it is in the register of the institution that issued the license.
- Users' opinions. Current clients will tell you the most about the current situation. It's no secret that online users tend to give negative feedback more often as soon as something goes wrong than praise it when they are satisfied with the service. Watch out for suspicious opinions - they can be created by competitors of the exchange. A series of highly flattering comments should also increase your vigilance - perhaps it is the effect of copywriters or a marketing agency acting on behalf of the company.
- Implementation of deposits / withdrawals. Before you decide on a full-fledged cooperation, it is worth testing the exchange at the beginning and its execution of deposit and withdrawal transactions with less capital. Don't deposit the entire investment pool right away. See how quickly payments are posted, whether the exchange does not deduct anything "extra" and how quickly withdrawal instructions are carried out.
- Diversification. "Never put all your eggs in one basket" - banal, but very important from the trading perspective. History has known the cases of "disappearing" and collapsing exchanges. The cryptocurrency market is maturing day by day, and so are the clients themselves, but nevertheless, it is worth diversifying your trading to at least 2-3 accounts in different institutions.
- Communication channels. Serious companies care about contact with customers and build a positive image. Check the stock exchange profile on Facebook or Instagram and comments from both users and company representatives. Good contact, regular updates, introducing new products and expanding the offer are a signal that the company is developing and respects its customers.
FOREX BROKERS OFFERING BITCOIN
Bitcoin trading
Bitcoin (BTC) is by far number one when it comes to the world of cryptocurrencies. It is right behind him Ethereum (ETH) Enjoys not only the largest capitalization, but also an extremely interesting story that you can trace In this article. Although Bitcoin was created in 2009, it gained the greatest popularity in 2017, after a crazy increase in exchange rate from several hundred dollars to almost 20 thousand USD in a very short time.
CHECK: HOW TO BUY BITCOIN? [GUIDE]
Stablecoins - what is it?
Stablecoins is in the simplest translation a cryptocurrency with a stable situation. What can they be useful for? Not all crypto exchanges accept traditional fiat money like USD or EUR. In this case, stablecoins such as Tether (USDT), Paxos Standard (PAX), DAI or TrueUSD. The issuer of a stable coin is required to cover its digital currency in a fiat currency, gold, silver or other market valued asset, and to undergo regular audits.
By definition, Stablecoins are not to be subject to large amplitudes of exchange rate fluctuations, and the range of their volatility is to be very small. That is why they are not a speculative tool. However, they are extremely useful, for example, increasing the security of purchasing cryptocurrencies or enabling the purchase of some of them.
