Some have defined the age we are living in as the age of digital currency, as a direct result of the rapid growth in cryptocurrency popularity. For some perspective, there are now estimated to be nearly 8,000 different coins amounting to more than 600 Billion US dollars. To avoid being left behind, many have begun to wonder how they can get involved in the crypto world and if any of the new exchanges are worthwhile choices to begin this journey. Below are some of the most notable offerings in this space from the past few years and some of their perceived benefits and drawbacks.
Gold-backed cryptocurrencies have recently gained popularity after the uncertain conditions around the Covid-19 pandemic. As a result, precious-metal backed cryptocurrency exchanges like GoldExchange have also been a popular choice by many. Goldexchange.com allows users to purchase “Gold Coin” (a gold-backed-stablecoin) with their debit or credit card and make trades with 100% security. This exchange is believed to be the largest of its kind and has a 20-year history operating in this market. Futures orders are also available for more advanced traders, including Buy Stops and Buy Limits.
CoinSwitch, a platform founded in 2017, has gained a reputation as a cryptocurrency aggregator (more so than an exchange). CoinSwitch gathers available market rates from different trading platforms, allowing users to find the best deals on the market. The platform continues to offer a wide cryptocurrency selection and allows for anonymous transactions.
Created back in 2017, the ChangeNOW platform has made crypto to crypto and crypto to fiat exchanges available to users for a huge collection of currencies. One of the key differentiators between this platform and others is that traders can begin with as little as a $2 investment. Other benefits include round the clock support, anonymous transactions and an easy-to-use interface. Unfortunately, the exchange has been known to be slow at times and has yet to introduce a feature for the sale of cryptocurrencies.
Originating as Neon Exchange (NEX), Nash was founded back in 2017 and has since gained a reputation as one of the best new cryptocurrency exchanges. Recent features to buy Bitcoin and Ethereum through Single Euro Payments Area (SEPA) without fees are believed to be unique to this exchange alone. Coins can also be safely stored on this exchange since it is non-custodial, allowing users full control of their private keys. The team behind Nash is believed to take into consideration all the community’s feedback on a regular basis, using this as a starting point to make upgrades to the platform.
Founded back in 2018, FixedFloat continues to offer users an anonymous and efficient way to make cryptocurrency trades. The main difference in its release was the Lightning Network implementation of bitcoin for accelerated transactions. FixedFloat offers fixed rates with a 1% fee to help investors avoid some volatility in cryptocurrency trading. Like most of the newer platforms, only a few popular cryptocurrencies are available for purchase. Additionally, shortfalls exist in purchasing options as credit card features are yet to be added.
A relatively new exchange is Quickex, founded in 2018. The platform has since become known as a straightforward solution for anonymous cryptocurrency exchange. To get started, customers can purchase cryptocurrencies with their credit card and earn some extra funds through their affiliate program. Due to its newer nature, there are fewer coins available for exchange and less information about the platform available for review. Unfortunately, support for this platform is limited and may be a red flag for new users who need additional hand-holding.
Although a less traditional exchange, Hedgetrade allows for BTC tokens to be exchanged for HEDG, which can then be used to bet on their platform. That said, the rest of the cryptocurrency transactions that occur involve a blueprint in which HEDG tokens are staked against predictions of other cryptocurrency prices. The platform became popular back in 2019 and was then found among the top 50 cryptocurrencies for this period. Hedgetrade’s mission is to serve as a bridge between advanced and amateur traders and offer educational opportunities.
There is no best cryptocurrency exchange. Each option presented offers many features valuable to new or experienced traders. That said, a more extensive review process should be conducted before making any investments.
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