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Cryptocurrency exchange

Cryptocurrency exchange

Platforms for buying and selling digital assets: cryptocurrencies, tokens, NFTs, futures, etc. They perform the same role as regular stock exchanges.

Exchanges are divided into two types: centralized (CEX) and decentralized (DEX). The advantage of centralized exchanges is the presence of legal regulation (in most countries), high transaction speed, the ability to transfer cryptocurrencies into real money. Among the disadvantages: cryptocurrency transactions are not registered in the blockchain, so all cryptocurrencies are on the same exchange account. The user identification procedure (KYC) is being actively introduced. If a person refuses to pass it, then his account in the crypto exchange may be frozen.

Decentralized exchanges do not have legal status, the transaction speed is much lower and there is no possibility to exchange cryptocurrencies for fiat money. However, their advantage is the record of each transaction in the blockchain and anonymity.

Criteria for evaluation

When creating the list, we took into account the following characteristics:

  • Trading volume. This indicator is important for those who conduct a lot of transactions in a short period of time and it is important for him that his orders are bought or sold very quickly. In addition, this indicator shows the level of people's trust in a particular exchange.
  • The number of trading pairs (markets). This characteristic is important for those who work with unpopular altcoins.
  • Legal status and reputation. This avoids both deceptions by the exchange and prosecution by government regulators.
  • Trading with fiat money and withdrawing money to other payment systems. This allows you to withdraw money to ordinary bank cards with minimal commissions.
  • Availability of additional financial instruments. This increases the owner's ability to earn, store and withdraw crypto-assets.
Major exchanges:
Binance

Trading volume: ~$27.9 billion

Number of trading pairs (markets): 1643

Legal status: registered in the Cayman Islands

Fiat currencies: more than 43 (including USD, EUR, CAD)

Coinbase

Trading volume: ~$5 billion

Number of trading pairs (markets): 416

Legal status: UK registered

Fiat currencies: USD, EUR, GBR

FTX

Trading volume: ~$10 billion

Number of trading pairs (markets): 435

Legal status: registered in the Bahamas

Fiat currencies: 10 (including USD, EUR, GBR)

List of cryptocurrency exchanges

Exchange name
Website
Location
People

Binance

https://www.binance.com/

Changpeng Zhao

Bitfinex

https://www.bitfinex.com/

Hong Kong

Raphael Nicolle

Bithumb

https://www.bithumb.com/

Bitpay

https://bitpay.com/

Stephen Pair, Tony Gallippi

Bitstamp

https://www.bitstamp.net/

...

Timeline

Patents

Further Resources

Title
Author
Link
Type
Date

References

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