When looking for a trusted cryptocurrency exchange, it is important to take into account a number of factors including its security and liquidity.
Crypto exchange platforms provide a crucial segment in the wider community as it allows the public to have access to cryptocurrencies. Unlike the stock and Forex markets, the crypto market is open 24/7 and cryptocurrency exchanges facilitate this. There are only four ways through which the public can have access to cryptocurrencies:
- Mining
- ICO or IEO
- Buying through an exchange
- Accepting cryptocurrency payments for your business
The easiest way is buying from an exchange platform since mining involves complex technical aspects, ICO and IEO require you to understand the startup you are funding and accepting cryptocurrencies as a payment method require you to own or run a business.
In selecting the most trusted crypto exchanges, the following criteria have been considered:
- Security
- Liquidity
- Trading fee
- Ease of use
In no particular order, here are the most reliable platforms.
Binance
Binance has been a key player in the cryptocurrency space and it consistently continues to be ranked as the best platform in terms of volume. Aside from this, Binance has a simple user interface. In terms of trading fees, Binance offers one of the lowest trading fees depending on your 30-day trade volume. Additionally, users who choose to trade with the BNB token, get a discount on their trading fee.
TAGZ
TAGZ exchange has certainly made its mark throughout 2019. Having been launched in March 2019, TAGZ has risen to the top exchange platform in terms of liquidity and trading activity on the platform. TAGZ sets itself apart with virtually zero exchange trading fees, fast transactions (faster than NASDAQ) and maximum liquidity, sleek interface and enhanced security measures through the SHA-384 layer multi server encryption. Considering it has only been around for less than 12 months, TAGZ accomplishments are noteworthy.
Kraken
When it comes to security, Kraken lies at the top. Over the years Kraken has been known for its robust security measures. The platform utilizes cold wallets and proprietary authorization to ensure clients’ funds are well secured. Kraken also offers relatively low fees and a wide variety of currencies such as USD, CAD, GBP, and Yen.
Choosing the most trusted crypto exchange platform in 2020 can be a daunting task, especially given the wide variety of thousands of crypto exchanges available. Hence, it is crucial to take the above factors into account when looking for a trusted cryptocurrency exchange. This will not only ensure you land on the best cryptocurrency exchange platform but also one that focuses on securing your assets and information and gives you an easy time while navigating the platform.
Saurabh Singla is a one of the renowned speaker, educator, and one of the world's foremost bitcoin and open blockchain experts. He truly believes that the rise of blockchain presents a unique opportunity for distributed consensus, Smart Contract applications come with unique security concerns that have historically led to millions of USD in losses, such as the infamous DAO Attack.