Do you know which the internationally renowned currency is? What a silly question! Of course, you know it is “Cryptocurrency”. It has certainly caught your attention and you have already made up your mind to try your hands on crypto.
With increasing number of users gaining passion for this virtually digitized currency, the “Cryptocurrency Exchanges” i.e. “Trading Platforms” are also growing in number. This, in turn, increases the competition among different exchange platforms. Apart from the growing number, these exchanges also face competition because of many other essential factors. You ought to be more careful while choosing an exchange as the history is a witness to shutdown of many popular and running exchange platforms.
If you are a pro at crypto trading, you must be having your own preferences but the novice traders are still in question for what are the good qualities an exchange should possess.
Key Components of an Exchange
Here are some basic points to get through:
- Improved Order Book
- Negligible delay in executing Transactions
- Maintaining individual and exchange account balances
- Highly secure
- Improved Liquidity
- Good volume
- Better Customer Support
You have surely searched or are going to search, “Which is the best Cryptocurrency trading platform?” And you’ll receive a list of top 5, top7, top 10 and it goes till 40 and more. These are the research done by one particular person who writes the blog. Not necessarily used any of the exchange.
Would you like to know the actual and personal reviews regarding these exchanges? The existing exchange, their fascinating features directly from the mouth of traders. How about that? A big “Yes”, right? An online survey was conducted by Encrybit, an upcoming cryptocurrency exchange platform to collect the traders’ personal opinion on best trading platforms and their features. The purpose of this survey was to fulfil Encrybit’s goal for developing “People’s Exchange” which is in accordance with the users’ demand.
The survey results helped the research team of Encrybit to get closer to their goal and present the traders with the finest exchange till date. You are getting excited about what the traders’ have to say about the best trading platforms? Your precious time won’t be wasted anymore.
Revealing the names of the exchange with their fascinating features:
27% of the survey participants mentioned “Binance”. The most likeable features of this exchange are its good volume and airdrop policy.
19% of the total survey participants answered “Huobi.pro” for its superior arbitrage opportunity.
14% of the mentions went to “Okex.com” as it is a better trading platform because of the good volume.
11% opted for “Bitfinex” stating that it has the best UI for on-the-spot TA and algorithmic trading options, trading with margin and direct withdrawals in the form of fiat currency.
9% opted for “Bittrex” because of its good GUI, good coins pairs and easy-to-use.
As it is a survey, a lot of different variety of exchanges have come up. Those names are Kucoin, Bitstamp, Poloniex, Bithumb, Upbit, Coinbase (GDAX) and Hitbtc.