Friday, 19 August 2022 11:24

What Is A Cryptocurrency Exchange And How To Pick One?

Crypto rates Crypto rates pixabay

The cryptocurrency industry has hundreds, if not thousands, of exchangers.

On the one hand, this is good because we, as consumers, have a wide choice. Besides, the advanced competition does not allow the creators of such platforms to stand still, which gives us additional benefits in the form of bonuses, promotions, low fees, etc.

On the other hand, such an abundance of choice confuses inexperienced users, and often they become victims of unfair “businessmen”. Therefore, before putting your hard-earned money into a crypto exchange, you should conduct research. It is not difficult; you just need to check this or that service for the following points:

  • The level of safety.
  • Trade volume of the exchange..
  • Trading tools like futures trading, staking crypto, etc.
  • Crypto rates. Small and illegal exchanges may offer high prices.
  • Customer support.
  • The number of crypto assets available.
  • The possibility to trade with fiat and withdraw to a bank card.
  • Fees.
  • Ease of use.

We came up with a list of the best credible crypto platforms for trading.


The most well-known crypto platform with an emphasis on users' safety. The platform offers over 500 digital assets and the possibility to work with fiat currencies. Trade volume is the biggest in the market - $24,8 billion. The platform charges average fees, but the commissions depend on the type of transaction.

It offers trading tools like stop-loss and others. The fee for using a debit card is 4,5%. The platform might be complex for a beginner trader. Users can use a chatbox and ask their questions to customer support.


WhiteBIT is a legitime exchange that provides security measures for users. Cryptocurrency rates are average in the market. Customer support 24/7. Over 400 pairs with crypto assets are available. Operations with fiat money are supported. Fees are fixed at 0,10% for all transactions regardless of the amount. Monobank cards provide zero fees, and other banks’ commissions vary. The interface is beginner-friendly. 

Wrapping up, WhiteBIT would be more suitable for beginner traders, while Binance is better for advanced ones.