Trading cryptocurrencies and investing in digital assets is becoming an increasingly popular way to make money. Since cryptocurrencies are volatile, traders can make significant short- and long-term profits while crypto exchanges facilitate their successful trading.
What is a cryptocurrency exchange? It is a platform where traders and investors buy and sell cryptocurrencies to make money from the differences in cryptocurrency prices. Leading and reputable cryptocurrency platforms offer a variety of trading tools and features, such as:
- Cryptocurrency charts and educational material
- Customer support
- Leverage trading
- Futures derivatives trading
- Staking
- Spot markets
- Two-factor authentication
- Low commissions
- Affiliate programs.
- A wide range of assets.
Let’s talk about the biggest cryptocurrency exchanges and see how they differ.
Binance
is the most popular platform for trading and investing globally. It offers more than 500 crypto assets for trading and the largest trading volume of $18,8 billion (as of September 2022). The platform is suitable for advanced traders, as the user interface can be somewhat difficult for beginners. The fees charged by Binance are not fixed. It means that all products and trading instruments come with different fees. A 4.5% fee is charged when using a debit card.
WhiteBIT
WhiteBIT is the biggest trading platform in Europe that allows users to trade cryptocurrencies for a fixed fee of 0,10%; when using a Monobank card, users do not have to pay any fees. WhiteBIT offers more than 400 trading pairs and allows to buy crypto with fiat currency. WhiteBIT is suitable for beginners, as the user interface is easy to use. In addition, users can configure the WhiteBIT application according to their preferences. Newcomers can use the demo trading to practice and learn to navigate the interface.
While Binance is the most popular platform on the world’s market and is used daily by all traders, WhiteBIT offers the same features and tools and seems more suitable for beginners.
