Cryptocurrency Coin Exchanges Recommended by Casey Aymes
Hey Guys! As promised in an earlier post, today’s blog will focus on the cryptocurrency exchanges I use and recommend. If you just want to follow my lead without any explanations, here’s the short list:
For those who are curious about the whys and hows – read on.
For the uninitiated, a Coin exchange is a financial platform similar to traditional stock exchanges. Instead of stocks, commodities, fiat currencies and futures, you can only trade cryptocurrencies on a coin exchange – cryptocurrencies built on blockchain technology to be specific. Like a traditional exchange – not all coins are listed on all exchanges. Different exchanges have different criteria for coins to be traded on their platform. Coin exchanges are simply intermediaries between buyers and sellers of crypto-coins.
Let’s get started with my recommendations:
A coin exchange launched in 2015, it is mostly comprised of Chinese and Russian coin traders. You can use the Russian Rouble (RUR), in addition to the USD to buy coins. It also supports a wide array of cryptocurrencies – list here – and currency pairs. It also has a wallet to store and use your cryptocurrency. If you like your information handy, and at your finger tips with a single click, then Yobit is the right interface for you. Their UI is designed to have the most important information displayed front and center. Links to CoinsInfo, wallets, support, and AddCoin for new orders are placed right at the top. The left hand column displays the tickr for top traded currencies. Click on any coin to see a detailed graph of its value over time, traded volume, and neat boxes below to input buying or selling info.
You can start using Yobit by clicking on ‘Registration.’ it’s a simple sign on and you are good to go.
Cryptopia is based in New Zealand and its USP is peer to peer coin transfer that doesn’t go through the exchange. In addition to this p2p system, it also maintains a market place for trading goods, services, etc., using cryptocurrency. Users can pay via crypto coins in lieu of fiat currency. You will also find that it makes a point of listing rarely traded, up and coming or scarcely known coins – if you are looking at those kind of investments. Coins you may not find on some of the largest cryptocurrency exchanges can be found here. You can also mine coins using their ‘Mineshaft’ feature even if you use a single CPU/GPU. Although you can trade on Cryptopia from anywhere in the world, the only fiat currency you can finance your wallet with is New Zealand Dollars (NZD). A very small drawback – one easily outweighed by the market place feature, mining opportunity, and ability to spot and trade in the next Bitcoin.
Register on Cryptopia here. Two factor authentication is enabled here making it more secure.
Binance is possibly one of the largest coin exchange platforms on this planet. If you want to trade in the most popular coins like Bitcoin, Ethereum, Litecoin, Qtum, EOS, etc., get yourself an account on Binance. Their transaction fee is extremely low – 0.1% per trade, compared to other large coin exchanges – saving you a huge amount in trading charges. Trading with their token – BNB – gets you an additional discount of 50% per trade, bringing down your transaction fee to 0.05% per trade. Wuala!
It’s a relatively new platform but has been gaining steady traction with crypto-coin enthusiasts. Based out of China, it was launched in July 2017. There’s a slight drawback of not being able to finance your wallet with a fiat currency here. You can only trade in cryptocurrency pairs. It doesn’t have an exhaustive list of coins to trade in, but has the popular ones listed and allows trading for a wide array of coin pairs – mostly paired with Bitcoin, Ethereum and Tether.
The UI is similar to that of Yobit, but with more data, in depth charts and graphs, including Japanese candlestick graphs. If you are a casual investor, you can trade on the ‘Basic Level.’ For serious investors, there’s an ‘Advance Level’ that has more technical details. If you are a developer working on blockchain tech, you can make use of Binance Labs for funding, consultation, and more.
HItbtc is probably one of the oldest coin exchanges around. Launched in 2014, it’s a European entity that allows trading in EUR, GBP, USD v Bitcoin. If you are a beginner in the world of cryptocurrency trading, I suggest you sign up with HItbtc. It has a dummy trading feature where you can create a portfolio of coin investments and track it in real time – no actual trading takes place. Once you are sure of your skills, you can finance your wallet and start trading in crypto coins for real…or move on to one of the coin exchanges above.
That’s all for now. Let me know if you have any questions/comments about signing up on these exchanges, adapting to the UI, setting up your wallets, etc. Happy to share my knowledge.