Crypto exchanges are platforms that offer a range of digital assets and the tools for converting them to other crypto assets and back. It is called crypto trading when users exchange assets and make a profit from their price changes. Since crypto rates may change rapidly and sharply, it turns out that crypto exchanges allow making enormous gains during trading. Let’s talk about how to pick a good crypto exchange.
Assistance In Picking An Exchange
We outlined the criteria for choosing a cryptocurrency exchange:
- Safety. An exchange should be legitime and keep users’ funds in a safe place. They use different complex methods for it. If security is weak, investors risk losing millions. So check out the exchange’s security protocol.
- If you are a beginner and have no coins at all, a good option would be using one of the regulated crypto exchanges (CEX), for only CEX allows using bank cards for purchasing cryptos; we will offer the list of such services below.
- The number of assets supported. If you need particular crypto, search for the desired asset across centralised platforms.
- Fee policy. Fees vary depending on the platform and the product. Make sure you know about commission before proceeding with transactions. Some platforms may have hidden fees, so be attentive and pick only credible exchanges that offer a transparent fee policy.
- User experience. When you enter a platform, you will understand if it is suitable for you or not. It is subjective, so you cannot know unless you try.
Going through these criteria, we came up with the following list of regulated cryptocurrency exchanges in UK and other European countries:
These crypto platforms are legitime and have proved credible for many years. Conducting a short cryptocurrency exchange comparison, we can say that WhiteBIT’s fees are the lowest, and Binance’s functionality is the widest. However, the interface of Binance is complicated for a beginner. Coinbase’s fees are the highest, though this exchange is easy to handle from the first try. Kraken also charges higher fees compared with WhiteBIT.