A cryptocurrency exchange is a platform for operations with digital assets. There are simple exchanges and exchanges.
Simple exchange is a small website, usually with a limited number of cryptocurrencies to swap. Experienced traders use them but not often because the functionality of simple exchanges is much inferior to large exchanges.
Another group of platforms – exchanges, they are of two types – decentralized and centralized. Decentralized exchanges operate as intermediaries between users, who swap crypto assets at their own risk. A platform is not responsible for the safety of users’ investments.
Centralized exchanges are those with a traditional governance system, with central management responsible for the credibility and safety of users’ funds and personal information.
So what are the best crypto exchanges? For a beginner trader, the answer is definitely centralized platforms. Such popular services as Binance, Coinbase, Huobi, OKEx, and WhiteBIT exchange belong to a centralized type.
The features of centralized exchanges:
- Necessary KYC verification procedure. Unregistered users may access only simple swapping features.
- High protection against fraudsters and hackers.
- Monitoring dubious activities of users and blocking those looking illegal
- A wide range of tools for trading and earning opportunities (spot, margin trading, trading bots, etc)
- Affiliate programs and bonuses
- Full range of cryptocurrencies and the opportunity to buy digital assets with fiat
- Moderate fees
Many users worldwide think that the best exchange to buy crypto is WhiteBIT. Let’s run through its features.
What does WhiteBIT exchange offer its users?
The platform allows trading over 400 crypto pairs and buying digital assets with fiat money. Clients can also use their bank cards to purchase crypto and withdraw funds. This can be done through Advcash, Perfect Money, Visa, Mastercard. The exchange charges a quite moderate fee of 0,1%.
The platform stores clients’ assets on cold wallets (96%), and only 4% is kept on hot wallets. This ensures high protection for investments from fraudulent schemes.
Another reason why WhiteBIT is called the best exchange to trade cryptocurrency is its lightning-fast tech support. It is essential for beginners who are only at the beginning of their trading activity and try to find out how it works. The convenient and user-friendly application is used worldwide by over 2 million users.