Boxmining v2

Category: Exchange Reviews

Review of Cryptocurrency exchanges. Learn which crypto-exchange is safe to use and have high liquidity.

  • Coinmama Exchange Review (2023): Accessible, User-friendly, and Top-notch Security

    Coinmama Exchange Review (2023): Accessible, User-friendly, and Top-notch Security

    Coinmama is a non-custodial cryptocurrency broker from Israel, incorporated in Europe, and Slovakia, that provides fast, safe, and convenient cryptocurrency gateway services to digital currency enthusiasts in 188 countries, including the United States, with over 2.4 million users. Coinmama is the go-to platform for buying cryptos securely and conveniently, with helpful customer support, a wide variety of payment methods, and high levels of security.

    Sign up here to get started

    What is Coinmama?

    Coinmama is a cryptocurrency broker/exchange based in Israel that offers a fast, safe and fun way to buy digital currency from anywhere in the world. With Coinmama, users can purchase Bitcoin, Ethereum, Litecoin, and other cryptocurrencies with a credit or debit card. The service is available in 43 US states and all countries apart from those sanctioned, such as North Korea. Coinmama has been providing its services since 2013 and is committed to providing a secure and reliable platform for users to buy and sell digital currency. With their easy-to-use interface, users can quickly and easily purchase digital currency with just a few clicks. Coinmama is dedicated to providing a safe and secure platform for users to buy and sell digital currency.

    Coinmama is an exchange broker, meaning it holds the cryptocurrency and sells it directly to you for fiat money. Binance, on the other hand, is an exchange marketplace, which matches two independent buyers and sellers. Both exchanges offer a secure and convenient way to buy and sell cryptocurrencies. Coinmama has over 2 million customers in 188 countries, while Binance is one of the world’s largest cryptocurrency exchanges, with over 15 million users in more than 180 countries. Both exchanges offer competitive fees and a wide range of payment options, making them ideal for both experienced and novice cryptocurrency traders.

    Key Features of Coinmama

    Coinmama is a non-custodial cryptocurrency brokerage that makes it easy to buy and sell crypto for fiat currency, giving users full control over their funds. Other key features of the platform include:

    Capacity to buy and trade cryptocurrencies in 188 nations: Anybody can use Coinmama regardless of where they reside because it offers a global service.

    The ten largest coins are supported: Coinmama is a leading cryptocurrency platform that enables users to purchase Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP, EOS, QTUM, Bitcoin Cash (BCH), Ethereum Classic (ETC), Cardano (ADA), and Tezos (XTZ) with ease.

    Wide range of payment options: You can purchase cryptocurrency using a credit or debit card, a bank transfer via SWIFT or SEPA, Apple Pay, Fedwire, FasterPayments, Sofort, and more.

    24-hour client service desk: Coinmama boasts of having a top-notch customer support service.

    Non-custodial, safe platform: You don’t run the danger of an additional counterparty with Coinmama because you own your private keys.

    Key Advantages of Coinmama

    Let me first describe the benefits of Coinmama.

    Daily Payment Options

    Coinmama is a popular cryptocurrency exchange that allows users to buy digital assets using their debit or credit card (fiat money). This is a great advantage for those who don’t have any other cryptocurrency to deposit, as many exchanges don’t allow for this. Coinmama is easy to use and almost every major bank issues debit and credit cards backed by Visa or MasterCard, so you shouldn’t have any problems buying from Coinmama, providing you have a bank account! With Coinmama, you can buy cryptocurrency directly from the website, just like ordering your weekly groceries online.

    Get Your Coins Right Away In Your Own Wallet

    Coinmama is a secure and reliable platform for buying cryptocurrencies. With Coinmama, you can purchase coins quickly and easily with your credit or debit card. Your coins are sent to your private wallet as soon as the payment is processed, ensuring that your funds are safe and secure. Coinmama is a great choice for those looking for a secure and convenient way to buy cryptocurrencies.

    User-Friendly Platform

    Coinmama is a cryptocurrency exchange that makes buying cryptocurrency simple and straightforward. With no prior knowledge of trading required, users can open and verify their account, enter their card details and choose how many coins they want to buy. Coinmama offers a variety of features such as market orders and kill-or-fill orders, as well as graphs, charts and statistics to help users make informed decisions. With a user-friendly interface and helpful customer support, Coinmama is a great choice for those looking to purchase cryptocurrency.

    Excellent Support Team

    Coinmama offers a secure and easy-to-use platform, with a wide range of payment options and low fees. If you have any issues with your account, Coinmama has a helpful customer support team available to assist you. You can contact them through live chat during business hours (Sunday-Thursday 9:00-18:00 GMT+3), or via email, support ticket or Facebook outside of these hours. Additionally, their FAQ page provides answers to many common questions.

    Exceptional Security

    It offers users a fast and secure way to buy and sell digital currencies. Coinmama is known for its user-friendly interface and low fees. However, it is important to note that Coinmama experienced a security breach in 2019. Despite this, Coinmama remains a popular choice for those looking to buy and sell digital currencies. It is important to do your own research before investing in any cryptocurrency exchange, and Coinmama is no exception.

    Key Disadvantages of Coinmama

    But, there are also some drawbacks to consider.

     Credit Card Fees

    Coinmama is a cryptocurrency exchange that allows users to purchase cryptocurrencies with their debit or credit cards. It is a great option for those who want to buy cryptocurrency quickly and easily. Coinmama offers competitive rates and a wide range of coins to choose from. However, users should be aware that there is an extra 5% fee when using a debit or credit card to purchase cryptocurrency. Despite this, Coinmama is a reliable and secure platform that is suitable for both beginners and experienced traders.

    Coinmama Fees

    Coinmama is a popular cryptocurrency exchange that allows users to buy and sell digital currencies with real-world money. However, users should be aware that there are fees associated with using the platform. On average, Coinmama charges a 5.5% fee for each transaction, although this can vary depending on the amount of coins being purchased. Fortunately, Coinmama does not charge any withdrawal fees, making it a cost-effective option for those looking to buy and sell digital currencies.

    Only 10 Coins to Choose From

    Coinmama is a broker exchange that allows users to buy Bitcoin (BTC) and Ethereum (ETH) with fiat money. Although it only offers 10 coins compared to other exchanges such as Kucoin which have more than 100 coins available, it still allows users to trade with all the smaller, less popular cryptos. Coinmama is a reliable and secure platform that offers fast transactions and low fees. It also provides customer support and a user-friendly interface, making it a great choice for those looking to buy BTC and ETH.

    Coinmama Verification

    The verification process is simple and straightforward, requiring users to confirm their personal details and upload a form of ID. Once the verification process is complete, users can buy up to $15,000 in coins without needing to provide any more information. The verification process is usually completed within a couple of hours, so users don’t have to wait long to start trading. Coinmama is a secure and reliable platform, making it a great choice for those looking to buy and sell digital currencies.

    Step-by-Step Guide to Buying Coins

    Now that you are fully aware of all the benefits and drawbacks of utilizing Coinmama, I’ll teach you exactly how to purchase your first coins.

    1. First, you will need to visit the official Coinmama website which can be accessed here.

    2. The simplest approach to create an account is to select the amount of bitcoin you wish to buy, enter it, and then click Purchase. Visa, MasterCard, ApplePay, SEPA, and a few other payment methods are accepted by Coinmama.

    3. Your entire name, a secure password, and the nation where you now reside must now be entered.

    4. Don’t forget to click the link Coinmama sent to your email to confirm your email address! If you don’t confirm the email right away, you’ll be asked to do so later.

    5. Once you have logged into your account, navigate to the Buy page, and select what you’d like to purchase – in this case, I’ll assume that it’s Bitcoin.

    6. You will see that you first need to verify your account. Click on “verification“.

    7. You will then be prompted to confirm your full name one more before entering your date of birth, contact information, and full address in the next window. If this doesn’t match the address on your credit card, it won’t be accepted.

    8. You must then input your identity information. Either your passport or your license will do this. Make sure you input the proper information twice to avoid slowing down the procedure. then select Next.

    9. You will then be asked to upload your documents. You will need to upload the front and back of your ID and then the following:

    • A selfie of you holding your ID.
    • An image of you holding a piece of paper saying “Coinmama” with today’s date.

    10. Following your submission, Coinmama will typically validate your ID in under ten minutes. If your pictures are blurry, they can urge you to take new ones.

    11. You will get an email after this is finished and your account has been verified. You can now purchase up to $15,000 worth of cryptocurrencies, congratulations!

    12. To finish your order, simply carry out the earlier stages once more. You will be required to input your debit or credit card information as well as your Bitcoin or Ethereum wallet address on the last step.

    Who Should Use Coinmama?

    Coinmama is a cryptocurrency broker/exchange that makes it easy for first-time buyers to purchase cryptocurrency with a debit or credit card. It is a great place to start if you want to buy a less popular coin, as you will need to trade it with another cryptocurrency such as Bitcoin or Ethereum. To do this, you will need to transfer your Bitcoin or Ethereum over to another exchange that lists the coin you want, and then trade them for that coin. If you cannot find the cryptocurrency that you’re looking for, you should check out Kucoin that has more options to choose from.

    Conclusion

    Coinmama is a popular cryptocurrency broker exchange that allows users to buy Bitcoin, Ethereum, and other cryptocurrencies with their debit or credit card. It is a secure and easy-to-use platform that is available in over 180 countries. Coinmama charges a 5.9% transaction fee and a 5% credit/debit card fee, making it one of the more expensive exchanges. However, it is one of the few exchanges that offer the option to use a debit or credit card, making it a great choice for those looking to purchase cryptocurrency for the first time. Coinmama also offers 24/7 customer support and a wide range of payment options, making it a great choice for those looking for a reliable and secure exchange.

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • CEX.IO Exchange Review (2023): One of the Leading Cryptocurrency Platforms

    CEX.IO Exchange Review (2023): One of the Leading Cryptocurrency Platforms

    CEX.IO is a secure and user-friendly cryptocurrency exchange platform that enables users to easily buy, sell, and trade digital assets. In this review, we will share all about CEX.IO, it’s brief history, digital currencies you can buy, sell and trade, then the advantages and disadvantages of the platform.

    Sign up here to get started.

    What is CEX.IO?

    CEX.IO is a legitimate and safe cryptocurrency exchange platform that supports multiple deposit types and different digital assets. It is suitable for both advanced and beginner users who are looking to buy and sell cryptocurrencies. CEX.IO LTD, the company behind the exchange, is registered in the United States as a Money Services Business and is licensed by the Financial Crimes Enforcement Network (FinCEN). The exchange has also expanded its services within the US, with MTL licenses that can serve 48 different states.

    CEX.IO is a cryptocurrency exchange that provides users with a level two DSS certificate for added security. However, it is still vulnerable to hackers due to the vast amounts of different currencies stored on the platform. To ensure your cryptocurrency is safe, it is recommended to store it in a secure wallet. Sample secure wallets are MyEtherWallet or Exodus. CEX.IO is a reliable exchange, but users should take extra precautions to protect their digital assets.

    Key Features of CEX.IO

    CEX.IO key features include:

    Margin and Spot Trading. CEX.IO offers trading digital assets with leverage on with their own Broker. Spot trading with place limits and market orders.

    Mobile Application. Download CEX.IO to buy, sell, earn and exchange crypto anywhere and on the go. Their app is available both on Google Play and iOS App Store.

    Trading API. Traders can automate their cryptocurrency trading with CEX.IO’s reliable and stable API.

    Instant Buy using Bank Cards. Credit or Debit Cards are a available option to buy cryptocurrencies on CEX.IO with only just a few clicks.

    Multiple Fiat Currencies Available. There are a lot of available fiat currencies to choose from, so traders will do fewer trades and less fees.

    Key Advantages of CEX.IO

    Customer Support

    CEX.IO provides an extensive support section to help users understand the platform. If you can’t find the answer to your question, the platform offers an easy-to-use email support form to get the help you need.

    Multiple Fiat Currency Choices

    At this exchange, you can trade multiple cryptocurrencies with your preferred fiat currency. With no need to convert to Bitcoin first, you can save on fees by making fewer trades.

    Suitable for Beginners

    CEX.IO offers a user-friendly platform with a clean and clutter-free interface, making it easy to navigate and ideal for beginners. Advanced trading windows are also available, providing a pleasurable experience for all users.

    Margin Trade Options

    Margin trading options can be a risky form of trading, and is not recommended for beginners. If you’re looking to try it out, CEX.IO Broker offers commission-free margin trading options.

    Registered and Secured

    The USA’s Financial Crimes Enforcement Network (FinCEN) has registered the company as a Money Services Business. It has also been awarded a Level Two Data Security Standard (DSS) certificate. CEX.IO security is tested as it has never been hacked before.

    Key Disadvantages of CEX.IO

    Trust in Security

    Even if they have never been hacked before, it is essential to exercise caution when using any exchange. No platform is completely secure. To ensure the safety of your funds, it is recommended to not leave any money on the exchange. This is for both fiat currency or cryptocurrency.

    Which Coins Can You Buy on CEX.IO?

    CEX.IO offers users a wide range of digital assets to buy with either Bitcoin or fiat currency, including 108 cryptocurrencies and 228 trading pairs.

    It is a popular platform for buying and trading cryptocurrencies, offering a wide selection of the most well-known coins and tokens. Users can easily exchange their cryptocurrencies or use fiat money to purchase their desired digital assets.

    Payment Methods, Fiat Currencies, and Fees

    CEX.IO is a great choice for users from many countries, as it accepts a wide range of fiat currencies. Here is the list for their supported fiat currencies:

    • United States dollar (USD)
    • Euro (EUR)
    • Pound Sterling (GBP)
    • Ruble (RUB)

    There are also various payment methods accepted on CEX.IO:

    • VISA
    • MASTERCARD
    • S.W.I.F.T.
    • ACH
    • Faster Payments
    • Sepa
    • QIWI
    • Skrill

    CEX IO EU Limited offers a wide range of payment methods to make it easy for new users, including card processing services for clients from the European Economic Area (EEA).

    They offer competitive trading fees, ranging from 0.25% for market takers and 0.15% for market makers, down to as low as 0.01% and 0% respectively. The fees depend on the amount of crypto assets traded, making it an attractive option for those looking to trade crypto in smaller sums.

    CEX.IO Review: Account Verification

    Here are the various levels of accounts on CEX.IO:

    With each account tier, customers can enjoy additional payment options, higher transaction and withdrawal limits, and other benefits.

    For more advanced users, corporate accounts offer additional features. However, we won’t be delving too deeply into these features here.

    Verified accounts offer many advantages, so even new users may want to reach this tier.

    Basic Accounts

    Create an account with CEX.IO and start trading with Visa or MasterCard. With a basic account, you can deposit fiat currency and start trading right away.

    The recommended maximum and minimum deposit amounts for individual payment methods vary.

    Verified Accounts

    Verifying your identity with CEX.IO is easy and comes with several advantages. To increase your daily deposit and withdrawal limits or withdraw fiat funds, users must complete the verification process. In this CEX.IO review, we’ll explain exactly how to do it and the benefits of having a verified user account.

    How to Get a CEX.IO Verified Account: Stage 1

    Verifying your account with CEX.IO is a straightforward process that requires you to submit some personal information and documents to reach the verified account tier. This is to ensure the company complies with anti-money laundering (AML) and know your customer (KYC) regulations. Read on for our CEX.IO review of the account verification process.

    To ensure a successful upgrade of your CEX.IO account, please follow the steps below carefully. Make sure to submit all the required documents in the correct format, as CEX.IO will reject any requests that do not meet their standards. Failing to do so could mean missing out on a great opportunity to buy or sell a cryptocurrency at a favorable price.

    1. To complete the process, you must provide information from a valid government-issued identification document, such as a passport, ID card, or driver’s license.

    2. Complete the form with your gender, first name, middle name (if applicable), last name, date of birth, place of birth, contact number, and a link to social media profile (optional).

    3. After that, users must enter their residential and permanent addresses. If the two are the same, they can check the box labeled “same as residential” which is located next to the “permanent address” fields.

    4. To verify your identity, submit a scan or photograph of a few identity documents that meet the necessary requirements:

    • The issue date must be in the future (document must be valid on the day it is submitted).
    • Copies of both sides of the document must be submitted.
    • Scanned images must be in full color and in a high resolution.
    • Documents must be in either jpg, gif, png, tiff, or pdf format.
    • The file must be no larger than 15MB.
    • The photograph or scan must be no older than three months.
    • Documents must be completed using the Latin alphabet (a, b, c, d…)

    How to Get a CEX.IO Verified Account: Stage 2

    CEX.IO requires users to submit their identity document, a selfie of themselves holding the document, and a proof of address for verification.

    Accepted government-issued identity documents for the above form include national IDs, passports, and driver’s licenses.

    To ensure a clear and compliant selfie with your identity document, it is recommended to enlist the help of a friend or family member to take the photo. The photograph must meet the following criteria:

    • You must look directly at the camera
    • Use a light or neutral background color 
    • The image must be in full color 
    • No red-eye
    • No hats, sunglasses, headbands, or bandanas should obstruct the view of your face
    • The information on the document must be clearly visible.

    Acceptable proof of residency documents include photographs or scans that include your address (as stated in the verification form). The following will be accepted as a proof of residency document:

    • Utility bill (not a mobile phone, TV contract, or printed internet bills).
    • Electricity bill.
    • Bank statement.
    • Tax return, or council tax bill.

    CEX.IO allows customers to provide other forms of proof of residency, such as utility bills, bank statements, and government-issued documents, as long as they are not electronic bills, online screenshots, mobile phone bills, or credit card statements.

    CEX.IO Review: Advantages of Having a Verified Account

    Verified accounts on CEX.IO offer users access to more payment methods, higher deposit and withdrawal limits, and the ability to withdraw in fiat currencies. This makes verifying an account on CEX.IO an essential step for users who want to make the most of their experience.

    With an account on a higher tier than basic, you can deposit and withdraw funds using bank transfers and any of the supported cryptocurrencies at CEX.IO.

    The higher-tier accounts have no limit on deposits and withdrawals, however, each payment method has its own recommended limits. These limits are not listed here due to their large size.

    CEX.IO Review: Who Should Use CEX.IO?

    Why CEX.IO is Good for Beginners?

    CEX.IO is a great choice for beginners looking to buy and sell digital currency. The user-friendly interface makes it easy to navigate, and the support section has many FAQs to help new traders and investors. Advanced buying and selling options are available, but they are not immediately visible, making the process less intimidating. CEX.IO also offers a secure platform with two-factor authentication, and a variety of payment methods, including credit cards, bank transfers, and cryptocurrency. With its low fees and reliable customer service, CEX. (Clonazepam) IO is an ideal choice for those just starting out in the world of digital currency.

    Why CEX.IO is Good for Advanced Users? 

    CEX.IO is also a great platform for advanced users looking to buy and sell cryptocurrency. It offers a clean and easy-to-navigate platform with all the buying options you’d expect from an advanced platform. It also allows users to trade on a margin (using borrowed money) and has no limits for verified users. CEX.IO provides a variety of different deposit and withdrawal methods, making it easy to spin up huge profits and withdraw them with no trouble. With its advanced features and secure platform, CEX.IO is the perfect choice for experienced traders looking to make the most of their cryptocurrency investments.

    Conclusion

    CEX.IO is one of the world’s most popular fiat-to-crypto exchanges, offering users multiple digital assets, numerous deposit options, and a user-friendly design. It’s no wonder why CEX.IO has been so successful over the years.

    If you’re looking for an alternative to CEX.IO, you may want to consider Binance or KuCoin, two of the most popular cryptocurrency exchanges. Both offer a wide range of features and services, so you can find the right platform for your needs.

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Top Best Cryptocurrency Exchanges

    Top Best Cryptocurrency Exchanges

    UPDATE: Which are the best exchanges THIS YEAR? Top Best Cryptocurrency Exchanges (2023)

    For this article, exchanges that we at Team Boxmining use frequently are listed in Tier 1, exchanges we occasionally use are listed in Tier 2, down to those which we seldom or do not use at all are listed in Tier 3. However, this is only based on our personal preference. Potential users should also always check if the exchange is supported in their country and if there are any geographical restrictions. 

    Check out our latest video where we talk about our picks for the best cryptocurrency exchanges in 2022:

    Name:
    Binance
    Ease of use:
    4.9 Star Rating
    Fees:
    4.5 Star Rating
    Rating:
    4.5 Star Rating
    Full Review:
    HERE
    Sign Up:
    HERE
    Name:
    Coinbase
    Ease of use:
    4.6 Star Rating
    Fees:
    3 Star Rating
    Rating:
    3.5 Star Rating
    Full Review:
    HERE
    Sign Up:
    HERE
    Name:
    Bybit
    Ease of use:
    4.8 Star Rating
    Fees:
    4.4 Star Rating
    Rating:
    4.5 Star Rating
    Full Review:
    HERE
    Sign Up:
    HERE
    Name:
    Phemex
    Ease of use:
    4 Star Rating
    Fees:
    4 Star Rating
    Rating:
    4.3 Star Rating
    Full Review:
    HERE
    Sign Up:
    HERE
    Name:
    OKX
    Ease of use:
    4.2 Star Rating
    Fees:
    4.1 Star Rating
    Rating:
    4.4 Star Rating
    Full Review:

    HERE

    Sign Up:
    HERE

    Tier 1 Exchanges (Active Trading)

    Binance

    Binance
    Binance Exchange Website

    Binance was founded in 2017 and currently serves over 13.5 million active users across the globe. Unlike Coinbase and Kraken, Binance supports a wide range of altcoins (i.e. cryptocurrencies other than Bitcoin). This attracts more people to transfer their Bitcoin, Bitcoin Cash, and Litecoin from other exchanges to Binance to explore the altcoin world.

    It is suited for entry-level crypto traders due to its huge array of tradable cryptocurrencies. Binance supports trading of over 400 different types of cryptocurrencies with more being added almost every week. In fact, Binance has become so popular as a cryptocurrency exchange that the mere news of new coins being listed can cause the tokens’ prices to skyrocket. 

    The popularity of Binance has made its CEO Zhao Changpeng (CZ) a personality in the cryptocurrency community. His words/actions now have a significant influence on the cryptocurrency markets.

    Cryptocurrencies can be purchased on the Exchange through a variety of ways: PayPal, bank transfer, credit card, and debit card (although they charge a substantial 4.5% fee). It is worth noting, however, that users cannot simply exchange their US dollars for cryptocurrencies. Nevertheless, the aforementioned purchase methods should be sufficient for most cryptocurrency traders.

    As for security measures, Binance has an asset fund as insurance in case of misappropriated user funds and also provides two-factor authentication.

    Binance also has its own native token- BNB, which ranks 4th in terms of trading volume. The token can be used for various features and discounts on the exchange.

    Binance does have a US version of its exchange at Binance.US. Although Binance.US will have fewer cryptocurrencies available for trading and features in order to be compliant with US regulations.

    Binance is Team Boxmining’s second most frequently used exchange. It is easy to use, their customer service team is very responsive, and Binance is credited with pioneering many of the special features we come to expect today such as Initial Exchange Offerings (IEOs).

    Binance also caters to experienced traders with advanced trading options and plenty of analytics. Novice users will inevitably experience a learning curve, but once you find your way around, it becomes almost second nature. (softlay.com)

    Check out Binance Exchange Review: Best Crypto Exchange? For a detailed look at what Binance has to offer. 

    Sign up for Binance here!

    KuCoin

    KuCoin
    KuCoin

    KuCoin has unique assets and an extensive list of tradable coins. The Exchange is highly regarded for its large number of different cryptocurrency pairs, which means users can purchase a wide variety of cryptos. 

    KuCoin supports over 500 cryptocurrencies which means you can trade lots of small-cap tokens with low trading fees. At team Boxmining, we find that if we want to trade small-cap coins, we need to use MetaMask and then trade on different platforms and DEXs. And if it’s an ERC 20 token you would have to pay ridiculously high gas fees which is not economical. So, if these small-cap tokens are already on KuCoin, then you can save a lot of unnecessary costs.

    KuCoin also allows you to use trading bots through their mobile app which automatically buy and sell your cryptocurrencies so you don’t have to follow the market 24/7. However, it’s not always clear how they’re investing your money, so you still need to understand the cryptocurrency trading strategies they use.

    On the downside, KuCoin has in the past been plagued by poor Know-Your-Customer (KYC) procedures. At first, it allowed traders to deposit and withdraw large amounts of Bitcoin i.e. 50 Bitcoin per day without providing personal details. They have since changed their KYC policies and now you can only withdraw up to 2 Bitcoin per day without a “Verified” account i.e. an account that has completed the KYC procedures.

    In addition, Kucoin is a crypto-only exchange, which means you will need another exchange for buying cryptocurrencies with fiat currency such as HKD, USD or CAD. That means Kucoin is not the most ideal option for newcomers to cryptocurrency, but if you are an experienced trader then KuCoin is a great way to diversify your cryptocurrency portfolio.

    SwissBorg

    SwissBorg
    SwissBorg is a popular choice amongst European users and has a very intuitive and user-friendly app.

    SwissBorg was launched in December 2017, as per their name they are based in Switzerland and are fully compliant with Swiss Law, making them hugely popular amongst Europeans. The Exchange is available in over 100 countries (although currently not supported in the US), and it is noted the full range of features offered by SwissBorg may not be available in every country.

    SwissBorg supports over 35 cryptocurrencies and 16 fiat currencies. New cryptocurrencies are continuously being added and users can vote for the next one to be listed. Users can directly fund their SwissBorg accounts via bank transfer with 0 charges.

    Another popular feature is SwissBorg’s app which allows users to access their crypto wallets and trade on the go.

    To keep ahead of the yield farming and decentralized finance (DeFi) craze, SwissBorg offers their Smart Yield account for yield farming, which allows users to get exposure to farming without much prerequisite knowledge. The Smart Yield feature does this by scanning and finding a range of DeFi and CeFi (Centralized Finance).

    SwissBorg also has a native token $CHSB- a multi-utility token that entitles holders to lower fees when buying/selling Bitcoin, CHSB and stablecoins on the Exchange. Other benefits include being able to have a 2x yield on your USDC, BTC, ETH, XRP, and CHSB holdings.

    Learn more about SwissBorg with our in-depth guide- SwissBorg ($CHSB): What is it?

    Sign up for SwissBorg with our exclusive link to get FREE CHSB!

    Coinbase

    coinbase exchange
    Coinbase offers a more limited selection of cryptocurrencies but makes up for it with high security and ease of use

    Coinbase was launched in 2012 and currently has over 30 million users spanning 103 countries. While Coinbase may not offer a wide variety of cryptocurrencies, it is still a top favorite among many investors due to its highly secure and easy-to-use platforms. Also, Coinbase is the first stop for many beginner traders (especially those from the US) as they have a very easy-to-use mobile app, and you can directly fund your Coinbase account from your bank account. Coinbase is also particularly popular in the US since it is the first publicly listed US crypto exchange and it is fully compliant with US regulations.

    Coinbase’s popularity stems from the fact that its platform has one of the fastest and easiest cryptocurrency buying processes, which along with their claim to have never been hacked, makes them an ideal choice for beginners. Advanced users can also opt for Coinbase Pro, which has more trading features.

    Coinbase supports hundreds of digital currencies, but nevertheless still loses out to other major crypto exchanges in this respect. For US customers, there are no restrictions on transacting the following cryptocurrencies:

    • Bitcoin (BTC);
    • Ethereum (ETH);
    • Litecoin (LTC);
    • Bitcoin Cash (BCH);
    • Ethereum Classic (ETC); and
    • Ripple (XRP).

    Here’s a chart of the cryptocurrencies supported by Coinbase depending on your location.

    Most common forms of payment are accepted by Coinbase, for example credit and debit cards.

    Whilst it is generally secure, Coinbase has been under fire recently for suffering outages when there were huge fluctuations in the prices of Bitcoin in March, April AND May 2020. These outages left many users powerless to do any trades when they needed to the most. Potential users should bear this issue in mind when considering whether or not to use Coinbase.

    Coinbase also charges higher fees compared to most other exchanges, charging $0.99-$2.99 per purchase under a $200 transaction and an additional 0.5% fee depending on the amount traded. However many novice or infrequent traders consider this a fair price to pay for the convenience of the platform and as it is one of the few exchanges available to US users.

    Check out our Coinbase review for an in-depth look at this exchange. And as mentioned, Coinbase does charge higher fees compared to other exchanges on the market, hence we have our popular guide- Coinbase Fees: How to Avoid Them.

    Tier 2 Exchanges (Seasonal Trading / specific coins)

    PrimeXBT

    PrimeXBT is also one of the newer players in the cryptocurrency exchange space, having been launched in 2018. Credit is given to this Exchange for being one of the most transparent we have come across. Their website is a one-stop resource for anything you wanted to know about the Exchange and they also have in-depth tutorials on how to use its various features.

    The Exchange is lacking a bit in supported cryptocurrencies, currently, they only support 7 cryptocurrencies: BTC, ETH, USDC, USDT, LTC, XRP and EOS. In addition, only withdrawals and deposits in BTC are supported. However, what they lack in cryptocurrency support they make up in ability to trade other asset types such as commodities, stock indices and Forex.

    The ability to customise your trading screen and annotate charts is probably something long-awaited by technical analysts and serious traders and will keep them coming back to the Exchange.

    Check out our PrimeXBT review and guide.

    Kraken

    Kraken
    Kraken

    Kraken has a substantial presence in Europe, and listed cryptos have fiat pairs. It was founded in 2011 then relaunched in 2013. Kraken offers trading in over 50 cryptocurrencies- full list here. However, some cryptocurrencies are not available in specific countries.

    Kraken also offers margin trading and futures trading. With its margin accounts, you can borrow up to five times your account balance to trade crypto assets. Futures trading — contracts which allow you to buy or sell an asset at a set price on an upcoming date — is available for Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple.

    Learn more about futures trading with our Futures Trading Guide.

    The Exchange also offers its own futures trading platforms. But institutional clients can take advantage of expert insights, one-on-one consultations, account management support, and more.

    Kraken is hugely popular amongst European cryptocurrency enthusiasts due to its range of features. 

    Bittrex

    Bittrex
    Bittrex

    Bittrex is reliable and offers reputable services. Bittrex I used extensively in the past because they listed lots of coins. However, I eventually moved away from Bittrex because Binance overtook them in terms of coin selection.

    Bittrex will be removing the following markets after 31 May 2019: BTC-COVAL, BTC-SALT AND BTC-XCP. And the following markets after 6 July 2019: BTC-LUN, BTC-NEOS, BTC-THC and BTC-TKS

    Poloniex

    Poloniex
    Poloniex

    I also used Poloniex extensively in the past. However in my experience, their Know Your Customer (KYC) process took a long time. In my case it took 3 months to complete. This was unacceptable especially when it was during the bull market.

    Customer support on Poloniex isn’t terrible, so they still seem to be a good exchange.

    Poloniex’s geofencing announcement

    However if you are a U.S. citizen, you may need to be aware of Poloniex geofencing assets for U.S. customers. On 29 May 2019, the markets for ARDR, BCN, DCR, GAME, GAS, LSK, NXT, OMNI and REP will be disabled for US customers.

    Once the market has been geofenced, customers can still withdraw those tokens from their wallet so long as Poloniex supports it globally. However, customers will not longer be able to see their deposit address or generate a new deposit address.

    Huobi, OKEx

    Huobi
    Huobi

    Huobi and OKEx were the main titans of China. They had lots of Chinese users before the Chinese government cracked down on cryptocurrency trading in the country.

    OKEx
    OKEx

    This was known as the “Golden Vacuum” since it obliterated a lot of Huobi and OKEx’s dominance. This destabilized the two exchanges giving way to others like KuCoin and Binance to take charge.

    We still consider them as Tier 2 exchanges because they still hold onto some of their past customers and because they have the technology for the future.

    There are rumours that the Chinese government allows these exchanges to operate but keeps tabs on their transactions.

    BitMEX

    BitMEX
    BitMEX

    BitMEX is mostly a margin trading exchange allowing enormous leverage (i.e. up to 50 times). Leverage trading is when you do not own the physical bitcoin but you own trading contracts.

    Unfortunately, BitMEX does not operate in the United States and be careful not to login to your BitMEX account there, your account will get banned.

    Although we have heard of some Americans that use VPNs (Virtual Private Networks) to mask the country of origin so as to bypass this restriction.

    This is NOT recommended.

    BitMEX has poor customer support. It took us 3 months of emails to unban our account when we accidentally logged into BitMEX in the United States.

    Tier 3 Exchanges (Possible risks / issues)

    Bitfinex

    Bitfinex

    Although Bitfinex is a reputable exchange, its recent struggle with the New York Attorney General for US$850 million loss of customer funds lowers its credibility. We will have to see how Bitfinex will overcome this struggle.

    Apart from the case, it has a strong BTC/USD trading pair.

    To stay up to date with what is happening at Bitfinex, click here.

    OceanEx

    OceanEx
    OceanEx

    OceanEX is launched by BitOcean Global, a fully registered and licensed trading paltform in Japan. It’s created by a core team of members with past experience from Morgan Stanley, BNP Paribas, and Deloitte. OceanEX boasts a host of AI security features to improve user and trading safety. OceanEX is the trading hub of the VeChainThor Ecosystem, with all VeChain assets listed and VeChain trading pairs. Whilst it has many attractive features, we found liquidity lacking on many assets and difficulties both buying and selling various coins.

    To learn more about VeChain and its ecosystem, check our Vechain guide.

    AscendEX (formerly known as BitMax)

    AscendEX

    I tried this exchange since I received a lot of requests from viewers.

    However I am skeptical of exchanges that use the “Transaction Mining” model. Transaction Mining is where you gain credits or exchange tokens in return for trading.

    This directly incentivises wash trading on the platform, which is where a trader simultaneously sells and buys the same assets.

    This in turn creates misleading reports on the trading volumes on the exchange.

    Tier 4 Exchanges (avoid these exchanges)

    HitBTC

    HitBTC
    HitBTC

    These three exchanges have very questionable practices.

    For example, HitBTC does not have a real KYC policy. They do not seem to have much issue with you depositing large amounts of funds. However if you trade or want to withdraw a lot they will just ban or suspend your account until you communicate with them. This has happened to me personally and when we researched this and found that many others had the same experience.

    Lately there has been a new wave of users complaining about having to provide excessive detail about the source of their funds.

    There are also some users who have done their own investigations and concluded that the Exchange is insolvent.

    YoBit

    YoBit
    YoBit

    The exchange has a troublesome withdrawal process.

    Conclusion

    Tier 1: Binance, KuCoin, SwissBorg, Coinbase

    Tier 2: PrimeXBT, Kraken, Bittrex, Poloniex, Huobi and OKEx, BitMEX

    Tier 3: Bitfinex, OceanEx, AscenDEX (formerly BitMax),

    Tier 4 (avoid): HitBTC, YoBit

    In conclusion, conducting a background check on a cryptocurrency platform before signing up is the best way to avoid losing your digital wealth. Following the above list is one huge step towards this goal.

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Top Best Cryptocurrency Exchanges in 2022

    Top Best Cryptocurrency Exchanges in 2022

    This is an update of our previous top crypto exchanges article for 2021. A lot has changed since then and here’s what to look for in 2022.

    The easiest way to start trading cryptocurrencies such as Bitcoin is through a cryptocurrency exchange, and in this article, we list what we consider to be the top cryptocurrency exchanges in 2022 with the beginner user in mind. For this article, exchanges which we at Team Boxmining use frequently are listed in Tier 1, exchanges we occasionally use are listed in Tier 2, down to those which we seldom or do not use at all are listed in Tier 3. However, this is only based on our personal preference only. Potential users should also always check if the exchange is supported in their country as there are geographical restrictions. 

    Check out our latest video where we talk about our picks for the best cryptocurrency exchanges in 2022:

    https://www.youtube.com/watch?v=YRocD5PqvZ8
    Best Cryptocurrency Exchange in 2022? (EXCLUSIVE trading fee discounts)

    Tier 1 Exchanges

    Binance

    Founded in 2017 and currently serving over 13.5 million active users worldwide, Binance allows you to buy, sell, and trade cryptocurrency with low fees. You also have the option to earn interest on your cryptocurrencies by staking them for a period of time to earn an interest rate of between 0.5%-10%.

    Binance supports trading of over 400 different types of cryptocurrencies and with more being added almost every week. In fact, Binance has become so popular as a cryptocurrency exchange that the mere news of new coins being listed can cause the tokens’ prices to skyrocket. 

    Cryptocurrencies can be purchased on the Exchange through a variety of ways: PayPal, bank transfer, credit card, and debit card (although they charge a hefty 4.5% fee). It is worth noting however, that users cannot simply exchange their US dollars for cryptocurrencies. Nevertheless, the aforementioned purchase methods should be sufficient for most, if not all cryptocurrency traders.

    As for security measures, Binance not only has an asset fund as insurance in case of misappropriated user funds but also provides two-factor authentication.

    Binance also has its own native token- BNB, which comes 4th in terms of trading volume. The token can be used for various features and discounts on the exchange.

    Binance does have a US version of its exchange for US users at Binance.US which was launched in September 2019. Although Binance.US will have fewer cryptocurrencies available for trading and features in order to be compliant with US regulations.

    Binance is Team Boxmining’s second most frequently used exchange. Binance is easy to use, their team is always quick to respond if there are any issues with the exchange, and pioneered many of the special features we come to expect today such as Initial Exchange Offerings (IEOs). Binance also caters to experienced traders with advanced trading options and plenty of analytics. Novice users will inevitably experience a learning curve, but once you find your way around, it becomes almost second nature.

    Check out Binance Exchange Review 2021: Best Crypto Exchange? For a detailed look at what Binance has to offer. 

    Sign up for Binance here!

    KuCoin

    kuCoin exchange
    Its focus on security and intuitive design has attracted fervent supporters for KuCoin

    KuCoin is a relatively new cryptocurrency exchange that has quickly developed a fervent fan base thanks to its intuitive design and high level of security. The Exchange is highly regarded for its large number of different cryptocurrency pairs, which means users can purchase a wide variety of cryptos. 

    The Exchange is also spreading into new regions at a rapid pace. In just 1 year their adoption rate for different countries has skyrocketed. For example, in Latin America, there was a 171% increase, in Africa a 130% increase, and in Asia a 67.5% increase.

    KuCoin supports over 500 cryptocurrencies which means you can trade lots of small-cap tokens with low trading fees. At team Boxmining, we find that if we want to trade small-cap coins, we would need to use our MetaMask and then trade on different platforms and different DEXs. And if it’s an ERC 20 token you would have to pay ridiculously high gas fees which are really not practical. So, if these small-cap tokens are already on KuCoin, then you can save yourself a lot of unnecessary costs.

    KuCoin also allows you to use trading bots through their mobile app. Trading bots can
    automatically buy and sell your cryptocurrencies so you don’t have to be online all the time to follow the market. However, it’s not always clear how they’re investing your money, and you need to understand the cryptocurrency trading strategies they use. Also, if you’re buying and holding cryptocurrencies for the long term, these bots may not be able to help you a lot.

    On the downside, Kucoin is a crypto-only exchange, which means you will need another exchange if you’re looking to purchase coins with fiat currency such as HKD, USD or CAD. That means that Kucoin is not a great option for anyone just getting started with cryptocurrency, but if you are an experienced trader then KuCoin is a great way to diversify your cryptocurrency portfolio.

    SwissBorg

    SwissBorg
    SwissBorg is a popular choice amongst European users and has a very intuitive and user-friendly app.

    SwissBorg was launched in December 2017, they are based in Switzerland and are fully compliant with Swiss Law, making them hugely popular amongst the European cryptocurrency trading community. The Exchange is available in over 100 countries (although currently not supported in the US). Please note however that for some countries, the full range of features offered by SwissBorg may not be available.

    SwissBorg supports over 30 cryptocurrencies and 16 fiat currencies. New cryptocurrencies are continuously being added and users can vote for the next cryptoasset to be listed on their app. Users can directly fund their SwissBorg accounts via bank transfer, and SwissBorg does not charge any fees for bank transfers.

    Another popular feature is SwissBorg’s multi-award-winning app which allows users to access their crypto wallets and trade on the go.

    To keep ahead of the yield farming and decentralized finance (DeFi) craze, SwissBorg offers their Smart Yield account for yield farming, which allows users to get exposure to farming without much prerequisite knowledge. The Smart Yield feature does this by scanning and finding a range of DeFi and CeFi (Centralized Finance).

    SwissBorg’s native token $CHSB is a multi-utility token that entitles holders to lower fees when buying/selling Bitcoin, CHSB and stablecoins on the Exchange. Other benefits include being able to have 2x yield on your USDC, BTC, ETH, XRP, and CHSB holdings.

    Learn more about SwissBorg with our in-depth guide- SwissBorg ($CHSB): What is it?

    Sign up for SwissBorg with our exclusive link to get FREE CHSB!

    Coinbase

    coinbase exchange
    Coinbase offers a more limited selection of cryptocurrencies but makes up for it with high security and ease of use

    Coinbase was launched in 2012 and currently has over 30 million users spanning 103 countries. While Coinbase may not offer a wide variety of cryptocurrencies, the San Francisco-based exchange platform is still a top favorite among many investors due to its highly secure and easy-to-use platforms. Also, Coinbase is the first stop for many beginner traders (especially those from the US) as they have a very easy-to-use mobile app, you can directly fund your Coinbase account from your bank account. Coinbase is also particularly popular in the US since it is the first publicly listed US crypto exchange and it is compliant with US regulations.

    Coinbase’s popularity stems from the fact that their platform has one of the fastest and easiest cryptocurrency buying processes, which along with their claim to have never been hacked, makes them an ideal choice for beginners who are looking to get started with cryptocurrency investment. Advanced users can also opt for Coinbase Pro, which has more trading features.

    Coinbase supports hundreds of digital currencies, however, in terms of the number of cryptocurrencies supported, it definitely loses out to other major crypto exchanges in this respect. Coinbase also charges higher fees compared to most other exchanges, charging $0.99-$2.99 per purchase under a $200 transaction and an additional 0.5% fee depending on the amount traded. However many novice or infrequent traders consider this a fair price to pay for the convenience the platform offers and the fact that it is one of the few exchanges available to US users.

    As mentioned earlier, Coinbase does charge higher fees compared to other cryptocurrency exchanges on the market, hence we have prepared our popular guide- Coinbase Fees: How to Avoid Them.

    Tier 2 Exchanges

    eToro

    Established in 2007, eToro was originally a social trading exchange that launched its cryptocurrency platform in 2018. It has since grown to a user base of over 17 million users worldwide.

    The main factor to note about eToro is that it is extremely simple to use, which can be both positive and negative. eToro currently only offers the 6 major cryptocurrencies: Bitcoin, Bitcoin Cash, Etherium, Litecoin, XRP, and XLM. This means that the platform is perfect for those looking to trade in only the biggest cryptos using a simple interface.

    In addition, the only fiat that this exchange deposits in is USD, which works out great if you are a US-based trader but not so much if you’re interested in dealing with other currencies.

    Whilst we at Team Boxmining do not use eToro, our friends who only occasionally trade cryptocurrencies are big fans due to its simplicity. However, the downside is the lack of supported cryptocurrencies, features and trading discounts. 

    Kraken

    One of the more established cryptocurrency exchanges, Kraken was founded in 2011 then relaunched in 2013. Kraken has a wide variety of cryptocurrencies available for trade, and currently supports over 200 traders globally.

    Kraken also offers margin trading and futures trading. With its margin accounts, you can borrow up to five times your account balance to trade crypto assets. Futures trading — contracts which allow you to buy or sell an asset at a set price on an upcoming date — is available for Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple.

    The Exchange also offers its own futures trading platforms. But institutional clients can take advantage of expert insights, one-on-one consultations, account management support, and more.

    Kraken is hugely popular amongst European cryptocurrency enthusiasts due to its range of features. 

    Tier 3 Exchanges

    OceanEx

    OceanEX was launched in 2018 by BitOcean Global, a fully registered and licensed Japanese trading platform. BitOcean Global consists of core members with past experience from Morgan Stanley, BNP Paribas, and Deloitte. 

    With a variety of features to improve user and trading safety, OceanEX is the trading hub of the VeChainThor Ecosystem. The main advantages promoted by OceanEX are its AI security, tailor-made services, lightning fast trading, and global support. However, the platform lacks liquidity which makes buying and selling coins difficult.

    Coincheck

    coincheck exchange
    Coincheck is the go to if you’re living in Japan

    Coincheck is a Japanese-based cryptocurrency exchange founded in 2012 that also functions as a Bitcoin wallet. The platform is simple and user-friendly and boasts competitive fees, along with features such as cashback for paying utility bills. However, the coins available for trade are limited, and the majority of the additional features are available in Japan only. 

    Tier 4 Exchanges

    Bisq

    bisq exchange
    Bisq does not require user verification, which for some people is a security risk

    Launched in 2014, Bisq is a decentralised exchange with servers distributed worldwide and offers a large variety of cryptocurrencies and fiats for trading.

    However, unlike other exchanges Bisq does not require verification of user accounts, which raises the question of trader safety.

    HitBTC

    hitbtc exchange
    HitBTC also raises security concerns due to the nature of their KYC processes

    Designed for the more experienced trader interested in dealing with altcoins, HitBTC was founded in 2013 and based in Chile. 

    Main concerns surrounding HitBTC are the lack of transparency and clear KYC (Know Your Customer) processes, which raises red flags about the security of the platform. In addition, users have reported that support is slow, with resolutions of issues taking up to several weeks. 

    Conclusion

    Tier 1:

    • Binance
    • KuCoin
    • SwissBorg
    • Coinbase

    Tier 2:

    • eToro
    • KuCoin

    Tier 3:

    • OceanEx
    • Coincheck

    Tier 4:

    • Bisq
    • HitBTC

    Of course, this list is meant to be a guide when selecting the best cryptocurrency exchange for your individual needs, and conducting thorough research and background checks will go a long way in protecting your digital wealth. Be sure to spend some time when choosing your own exchange, and you can enjoy the peace of mind knowing that your coins are in the right hands. 

    In addition, exchange fees are usually a huge factor in choosing which exchange to use. Hence we have compiled our ESSENTIAL guide on How to Save Money on Crypto Exchange Fees.

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • eToro Exchange Review (2023): Best Trading Platform for Learning

    eToro Exchange Review (2023): Best Trading Platform for Learning

    eToro is a global multi-asset platform that enables users to trade CFDs of stocks, commodities, indices, and more than 15 major cryptocurrencies, all in a fully regulated and secure environment. This review will discuss eToro online trading platform that enables users to trade a variety of assets, including stocks, commodities, and currencies, with the help of its innovative and user-friendly interface.

    Sign up here to get started

    What is eToro?

    eToro is a global multi-asset platform that allows users to trade CFDs of stocks, commodities, indices, and more than 15 major cryptocurrencies. With over 10 million registered users worldwide, eToro is a fully regulated exchange and broker. Unlike other cryptocurrency trading services, eToro does not allow users to withdraw their crypto assets unless they use the dedicated custodial eToro Wallet, available on iOS and Android. With eToro, users can easily trade oil, stocks, gold, and cryptocurrencies with confidence.

    eToro is an online broker and social trading platform that has been advocating for Bitcoin since 2007 and offering Bitcoin trading services since 2013. It is the perfect platform for new traders and investors who want to learn and experience the best of both crypto and traditional finance worlds. eToro is a secure and reliable platform that provides users with a wide range of tools and features to help them make informed decisions and maximize their profits. With its user-friendly interface, comprehensive educational resources, and advanced trading tools, eToro is the ideal platform for both novice and experienced traders.

    Key Features of eToro

    The key features of eToro include:

    eToro Social Trading: The most effective social platform for traders is eToro since it provides a distinctive social trading experience. To stay up with your favored assets’ news, you can follow, copy, engage with, and follow your favorite traders. You can even make your own news stream.

    Most Effective Trading Platform for Learning: Several instructional resources, including a training virtual portfolio.

    Outstanding Customer Service: You can get in touch with the eToro team by phone, live chat, or support ticket if there is a problem. Also, the site is available in over 20 other languages. 24/7 customer service is offered from Monday through Friday.

    A Wide Variety of Assets: Along with 16 other cryptocurrencies, there are traditional markets like equities, bonds, currency, ETFs, commodities, and others that you may learn about and trade in.

    Mobile Trading Apps: You may quickly access eToro while on the go and execute trades using an Android or iOS smartphone.

    Key Advantages of eToro

    eToro Usability

    eToro is a great platform for starting and novice traders, offering a Virtual Portfolio and ‘demo mode’ to buy and trade cryptocurrencies without staking real money. It also features CopyTrader, which allows users to copy the best-performing traders in various asset markets, such as commodities, stocks, ETFs, and crypto. With CopyTrader, users can choose how much to invest and mirror every action the trader takes, while making adjustments as needed. eToro is a great platform for those looking to get into trading, offering a safe and secure environment to learn and grow.

    eToro’s trading platform is designed with the user in mind, offering a user-friendly and easy to navigate layout. The left-hand side of the screen features a control panel, while the right-hand side displays charts, data, and profiles to help you make informed investment decisions. eToro’s mobile apps, available for both Android and iOS devices, allow you to do pretty much everything you can do on the desktop version, including receiving notifications on the go. With its intuitive design and comprehensive features, eToro’s trading platform is a great choice for both experienced and novice traders.

    eToro Social Trading

    eToro is the social media platform for traders that connects you to experienced traders from around the world. With eToro’s copy trading feature, you can copy the actions of your chosen traders in real time and benefit from their expertise. Monitor their trades and opt-in to copy everything they do. eToro provides indicative prices, and the current market price is shown on the eToro trading platform. With eToro, you can benefit from the knowledge and experience of seasoned traders and make the most of your investments.

    Trusted and Established Reputation Within the Industry

    eToro is a leading online brokerage site that offers its users the ability to trade cryptocurrencies. US customers can access real crypto assets, while CFD trading is also available. This is a very interesting business move due to the volatile nature of cryptocurrencies, which have a reputation for being unpredictable. eToro has a solid business plan to ensure they can profit from this service, while clients can benefit from CFD-based crypto trading. eToro is a secure and reliable platform that provides users with a wide range of features, including copy trading, social trading, and a variety of educational resources. With its user-friendly interface and low fees, eToro is a great choice for anyone looking to get involved in the cryptocurrency market.

    eToro is a broker that offers users the widest variety of cryptocurrency trading options available, both long-term and short-term. This is thanks to their introduction of the “copy trading” feature, which allows investors to copy the decisions of experienced traders. This is a great option for those who don’t have the time or knowledge to research the crypto market, as it allows them to benefit from the expertise of experienced investors. Additionally, investors can pick the expert they want to follow based on their performance and receive a bonus for correct decisions.

    Key Disadvantages of eToro

    Somewhat High Fees

    eToro now charges a 1% fee on all cryptocurrency trades – buying or selling. This fee is included in the price when a user opens or closes a position and is charged for the ’round trip’ – meaning a 1% fee on the purchase and an advance of 1% for the eventual sale of the coin. The only outlier is Terra Classic (LUNC), which has an operational fee of 0.6% added to the standard 1%. eToro no longer charges overnight – or rollover – fees on cryptocurrency, however, 79% of retail investor accounts lose money when trading CFDs with this provider, so it is important to consider whether you can afford to take the high risk of losing your money.

    Can Only Deposit Via Fiat Currency

    eToro users can deposit fiat currency into their account using credit/debit cards, wire transfer, and popular e-wallets like PayPal, Skrill & Neteller, Klarna, and iDEAL. All fiat funds held by eToro are in US dollars, so a conversion fee may be incurred. The minimum first-time deposit ranges from USD 50 to USD 10,000. Withdrawals are also available via credit/debit card, bank transfer, and PayPal, with a flat fee of USD 5 for every withdrawal. Additionally, users can transfer cryptocurrency directly to the eToro wallet and hold and withdraw supported cryptocurrencies.

    Why eToro?

    eToro is a leading cryptocurrency brokerage firm that offers a wide variety of cryptocurrencies for trading. They guarantee security and a fluid user interface experience, with no hidden fees and good transaction rates. eToro has the most cryptocurrencies available for trading out of any other brokerage firm, making it a great choice for those looking to invest in the cryptocurrency market. They also offer a variety of other features, such as copy trading, which allows users to copy the trades of experienced traders, and a social trading platform, which allows users to connect with other traders and discuss strategies. With its wide range of features and benefits, eToro is a great choice for those looking to invest in the cryptocurrency market.

    Conclusion

    eToro is a revolutionary startup that has changed the way people trade stocks and cryptocurrencies. With its innovative “copy trading” system, investors can potentially earn more revenue without having to do anything but register and set up their portfolio. Experienced investors can take advantage of this system to boost their earnings, while newcomers should start slow and not invest more than they’re willing to lose. Projects like Follow Coin have tried to follow the same path, but have been much less successful due to a lack of experience and professionals in the field.

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Coinbase Review: MUST READ

    Coinbase Review: MUST READ

    Coinbase is one of the world’s most popular cryptocurrency exchange and is well known because unlike other exchanges, is based in and subject to US regulations. The Exchange is split into several categories, Coinbase– for retail users, Coinbase Pro– their professional trading platform for individuals, Coinbase Prime– for institutional clients. In this review we highlight each of their various features and controversies that you need to know.

    Key Advantages of Coinbase

    • Regulated under US law.
    • One of the few exchanges available for US citizens.
    • Maintains an insurance policy against theft or hacks.

    Key Features and Functions

    One point to note is that Coinbase only offers spot trading, unlike other exchanges which offer other products such as derivatives, futures trading etc.

    The Exchange is split into several categories catering for different types of users. Coinbase is for retail users, Coinbase Pro for individual professional traders and Coinbase Prime for institutional clients. This distinction is because they each have different functions to cater for the user. By way of example the main difference between Coinbase and Coinbase Pro are that Coinbase Pro offers charting tools, real-time order books, among other tools to help the advanced trader make most out of the Exchange. Coinbase Pro and Coinbase Prime both offer cheaper transaction fees and more supported cryptocurrencies. However they are still substantially fewer than other Exchanges out there.

    Despite only offering spot trading, Coinbase does have its own suite of products to assist users in getting started. For example it has its own wallet, and allows users to earn cryptocurrencies by participating in their courses.

    Coinbase products
    Products offered by Coinbase

    History of Coinbase

    Coinbase was launched in October 2012 and is based in the United States. Their headquarters are located in San Francisco, California. It is also becoming widely used in Europe where it has an operating license. It currently has over 30 million users and over USD$150 billion being traded on the Exchange.

    The Exchange has currently expanded to over 100 countries across the globe.

    [wp-compear id=”5176″]

    Supported Countries

    Coinbase is available in over 100 countries. Most notably the US, which a lot of Exchanges cannot support due to regulatory issues. However whilst Coinbase says it is “available” in some countries, it may not offer the full set of services i.e. being able to “convert” between different cryptocurrencies, and to “buy and “sell” the same. Check here for the services available for your specific country.

    Supported Cryptocurrencies

    Coinbase supports 91 cryptocurrencies- relatively fewer compared to other major exchanges such Binance. Also, the availability to buy, sell, send and receive a particular cryptocurrency depends on (a) whether you are using Coinbase or Coinbase Pro; and (b) your location.

    Check here for the full list of Coinbase’s supported cryptocurrencies.

    We can see that Coinbase is actively trying hard to list more cryptocurrencies. Whilst its current cryptocurrency support is sufficient for most average traders, they do lag behind their competitors in this respect. So unless we see more listings in the future, we will be keeping our score of 3.8/5 for cryptocurrency support…for now.

    Payment Methods

    Coinbase provides a variety of payment methods and most importantly, allows traders to pay in their local currency. However there are regional restrictions for payment methods. Below is a helpful list of the accepted payment methods for various countries.

    • Bank deposit: Europe, US, UK
    • Debit card: Available for most countries including Australia, Canada, Chile, Europe, Mexico, UK, US.
    • Credit card: Australia, Singapore
    • Paypal: Canada, Europe (most countries), US and UK

    You can check here to see the accepted payment methods for your specific country. Although we noticed that the information on supported payment methods is slightly different from the information on their other page.

    The Exchange also has its own Coinbase Card– a Visa-based debit card allowing customers to make purchases online and in-store using cryptocurrencies. However it is currently only available to UK and European customers.

    Deposit and Withdrawal Fees

    Cryptocurrency

    There are no fees for cryptocurrency deposits onto Coinbase. As for withdrawals, Coinbase will only charge you the relevant network fees required for sending your funds.

    Fiat

    Not all fiat deposits or withdrawals are free, and the amount depends on the method used. Coinbase supports fiat deposits/withdrawals via ACH, Wire (USD), SEPA (EUR) and SWIFT (GBP).

    Coinbase fiat deposit withdrawal fees
    Coinbase fiat deposit withdrawal fees (Image credit: Coinbase)

    Trading Fees

    Coinbase charges different fees depending on whether you are on Coinbase, Coinbase Pro or Coinbase Prime. Fees are cheaper for the latter 2 due to the larger volume by these traders.

    Coinbase charges its fees based on a maker-taker fee model. Placing an order at market which is filled immediately incurs a taker fee between 0.04% and 0.50%. Conversely, if you place an order which is not immediately matched the order is placed on the order book. When another user puts in an order and matches yours on the book you are charged a maker fee between 0.00% and 0.50%. The taker and maker fees are reduced if the value traded is higher.

    For stablecoin pairs specifically (e.g. USDC/USDT to DAI/PAX, or to fiat etc), Coinbase charges 0.01% and 0.00% for taker and maker fees respectively.

    Controversies

    In late February 2020, Coinbase was identified as one of the entities working with Clearview AI, a controversial facial recognition technology provider who was facing legal threats from Apple and Google for lack of scrutiny into its practices. Coinbase admits to testing Clearview’s software but denies that customer’s data was used in any of such tests. (https://yellowtail.tech/)

    The Exchange has come under fire from users during the Bitcoin price dump on 10th May 2020. On 10th May 2020 at 17:26 Pacific Time, the Exchange’s website and mobile app both experienced outages. 10 minutes later Coinbase came out with a notice saying that it was still investigating this outage, by 18:14, service had been restored. However during this time the price of Bitcoin tumbled from USD $9,500 to $8,100, leaving users only able to helplessly watch the crash and unable to trade.

    Coinbase is pretty much infamous for crashing during huge fluctuations in Bitcoin prices. On 29th April 2020, the Exchange suffered an outage whilst Bitcoin prices shot up to just under USD $9,000. And AGAIN on 10th May 2020.

    Needless to say, users are not happy with the situation, with some noting that Coinbase “crashes” when there is a huge change in Bitcoin prices. And whilst some attribute this to the Exchange being overloaded with users, others are not satisfied with how Coinbase has not fixed this over the years considering the high fees charged from users.

    As to the latest crash on 1st June 2020, Coinbase says that the Bitcoin price spike led to an increase in traffic by 5 times in only 4 minutes. As a result their autoscaling system was overwhelmed and created a backlog which meant that new survey requests were dropped or timed out. Coinbase however alleges that they are working on reducing the impact of price-related traffic spikes.

    Is Coinbase safe in 2022?

    The Exchange has top of the range security features. Additionally, being licensed in the United States, users have additional protection since Federal laws apply.

    In terms of the Exchange’s method for fund storage, only 2% of customer funds are held in hot wallets. The other 98% is kept in secure cold wallets in different parts of the world. So far, it has not been hacked…yet. Also, Coinbase has an insurance policy that insures against theft of cryptocurrencies resulting from security breaches, hacks, employee theft or fraudulent transfer.

    On account security, Coinbase advises its users to use two-factor authentication. The system supports either short messages sent to the registered mobile phone number, Google Authenticator, among other reliable ways to prevent malicious account login.

    HOWEVER, storing substantial assets in exchanges is not recommended as exchanges are prone to hacks. The best practice is to only leave enough assets for day-to-day trading on exchanges, the remainder should be stored offline on hardware wallets for.

    To learn more about hardware wallets, check out our reviews on the Ledger Nano X and Trezor Model T.

    Is Coinbase affected by the liquidity issues at FTX?

    Coinbase issued an announcement on 8th November 2022 concerning transparency, risk management, and consumer protection. In the announcement, Coinbase confirmed they have approximately US$15 million worth of deposits on FTX which they use to facilitate business operations and client trades. However, they do not have any exposure to Alameda Research, and no loans to FTX.

    As at 10th November 2022, there do not appear to be widespread reports of issues with withdrawing or trading funds on Coinbase. Their status page is also only showing that there are delayed withdrawals on the Polygon Network ONLY but a fix has been implemented. Therefore, it appears that Coinbase is not affected by the issues surrounding FTX exchange.

    Conclusion: Coinbase exchange pros and cons

    Pros

    • Coinbase has remained one of the most secure and reliable cryptocurrency exchanges.
    • The Exchange maintains an insurance policy against hacks and theft, which is reassuring for users.
    • Generally available in many countries, including the US with many payment options.

    Cons

    • Fee structure is highly confusing and not the cheapest out there.
    • Lack of features.
    • Not many supported cryptocurrencies compared to other exchanges.
    • Seems to be unable to handle sudden surges of users and has a history of crashing during periods of high price volatility.

    Final Score

    Services offered: 3/5
    Cryptocurrency support: 3.8/5
    Fees: 3/5
    Security: 4.5/5
    Final Score: 3.6

    To learn more, check out our review of the Top Cryptocurrency Exchanges of 2023!

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • BitMart Exchange Review (2023): Complete Beginners Guide

    BitMart Exchange Review (2023): Complete Beginners Guide

    BitMart has users from over 180 countries can access a wide range of digital assets. This includes more than 1,000 cryptocurrencies and tokens. It is through their secure and reliable global cryptocurrency exchange platform. In this review, we will expand on how BitMart works, it’s features, advantages and disadvantages.

    Get up to $3,000 welcome bonus for signing up below!

    Sign-upsign-up

    What is BitMart?

    BitMart is a leading cryptocurrency exchange platform that was established in 2017 and began public operations in 2018. It is one of the top-20 cryptocurrency exchanges in the world. It offers users a secure and reliable platform to buy, sell, and trade digital assets. BitMart provides a wide range of services, including spot trading, margin trading, futures trading, and OTC trading. The platform also offers a variety of features such as 24/7 customer support, advanced security measures, and a user-friendly interface. With competitive fees, low latency, and high liquidity, BitMart is a good choice for traders looking to buy, sell, and trade cryptocurrencies.

    It is a cryptocurrency exchange platform that is gaining popularity among users. It also offers a variety of payment methods, including credit cards, bank transfers, and digital wallets. Additionally, BitMart offers a comprehensive customer service system. It has 24/7 customer support, and a variety of educational resources to help users learn more about cryptocurrency trading.

    Key Features and Advantages of BitMart

    Here are the key features of BitMart:

    Supports a Very Wide Assortment of Cryptocurrencies. BitMart is a top-rated cryptocurrency exchange that allows users to trade over 170 different cryptocurrencies in various trading pairs.

    Quite Decent Fees. BitMart is a cryptocurrency exchange that offers a flat fee model of 0.25% for both market makers and takers. With an additional 25% discount available for holders of BMX tokens or those trading higher amounts of cryptocurrency.

    Broad Selection of Payment Methods. BitMart offers a wide range of payment methods, including bank transfers, credit & debit cards, and PayPal.

    Perfect for Both Beginner and Expert Traders. BitMart is offering users features such as cold wallet storage, referral rewards, lending programs, and up to 100x leverage trading. All these are perfect for both beginners and expert traders.

    Key Disadvantages of BitMart

    At this point in our BitMart exchange review, we can conclude that the platform offers some great features to users. However, is it a reliable option for long-term cryptocurrency trading? To answer this question, let’s take a look at some of the less-positive user reviews of BitMart.

    Higher Fees When Buying Cryptocurrency with Fiat Money

    BitMart is a cryptocurrency exchange that offers a range of services, including crypto-to-crypto trading, fiat-to-crypto purchases, and more. The exchange is known for its low fees, fast transactions, and a wide range of supported coins. Fiat-crypto purchases on BitMart can be expensive, with fees depending on the payment method. BitMart has some minor issues, such as limited customer support and coin selection. But, these are outweighed by its overall benefits.

    All in all, BitMart is a great choice for those looking to buy, sell, and trade cryptocurrencies.

    BitMart is a cryptocurrency exchange that allows users to purchase cryptocurrencies with PayPal, credit & debit cards, or bank transfers. Fiat-crypto purchases on BitMart have higher fees but offer a secure, fast, and simple way to buy cryptocurrencies. The choice is up to the user.

    Not That Many User Reviews Found Online Yet

    When it comes to user reviews, there is a lack of them for BitMart exchange. However, most of the reviews that are available are overwhelmingly positive. This could lead one to believe that BitMart is an underground, shady trading platform, but this is not the case. BitMart is a legitimate and reliable cryptocurrency trading option that is worth considering.

    BitMart is a legitimate cryptocurrency exchange that is slowly gaining recognition among traders for its positive features. Despite its relatively young age, the platform is quickly becoming a popular choice for those looking to trade digital assets.

    BitMart Hacked for $200 million in December 2021

    In December 2021, BitMart suffered a security breach in which hackers stole about $200 million worth of tokens. BitMart suspended customer withdrawals and conducted a thorough security review following the hack. In an official statement, BitMart vowed to use its own money to reimburse victims of the hack. Some users complained several weeks later they still have not been repaid. However, there has not been any further news on this.

    How to Use BitMart Cryptocurrency Exchange?

    How to Register on BitMart?

    1. Visit the BitMart official website and click the “Get Started” button located in the top-right corner to begin.

    2. Create an account by entering your email address, setting a password, and confirming you are 18 or older.

    3. Verify your email address by clicking the link in the confirmation email BitMart sent to you.

    4. Log in to your account to complete the process – it’s that simple!

    Registering on the BitMart exchange is a breeze and can be done in a matter of minutes. With no need for KYC verification, users can quickly explore and use the exchange after signing up. This makes the process incredibly simple.

    After registering successfully on BitMart, it will redirect you to the main trading page. BitMart is simple and user-friendly, even for beginner crypto traders. Navigating the exchange is easy and doesn’t require any complex interfaces or leverage trading features.

    How to Purchase Cryptocurrency on the BitMart Exchange?

    1. Navigate to the upper-left corner of the trading dashboard after registering and click the “Buy Coins” button to start trading.

    2. On the screen that appears, you can select the preferred crypto purchasing method that best suits your needs. You will also be able to view the different crypto options available for each method.

    3. Choose the cryptocurrency and fiat currency you wish to buy, and enter the amount. You will then be able to view your wallet address.

    4. Once you have confirmed your details, you will be given the option to purchase cryptocurrency. You can pay with either a credit/debit card or via bank transfer. To complete the purchase, you will need to verify your identity (KYC) – a standard procedure for most crypto exchanges.

    Buying cryptocurrency on BitMart is a simple process. You can easily buy the cryptocurrency of your choice and have it delivered to your BitMart wallet in minutes. The platform provides clear instructions at each step of the way, so no special knowledge of crypto trading is required.

    Buying cryptocurrencies with PayPal or via a bank transfer is easy. If you don’t have any cryptos to transfer to BitMart, you can buy them on the platform easily.

    Conclusion

    BitMart is a good choice for people who want to trade cryptocurrencies. It has many coins to choose from, is easy to use, and has security measures and an insurance fund. It also has other features like leverage trading and referral programs. BitMart is becoming popular and has fair fees, but buying cryptocurrencies with regular money can be a bit expensive. Still, many people like using BitMart.

    Sign up now to get $3,000 welcome bonus!

    Sign-upsign-up

    BitMart Exchange Review

    When reviewing a cryptocurrency exchange, it is important to consider several key factors to ensure that the exchange meets the needs and expectations of its users. In our reviews, we have evaluated a crypto exchange based on the services it offers, the cryptocurrencies it supports, its trading fees, and its security measures. These criteria were chosen because they are essential for providing a comprehensive and reliable trading experience for users. So by examining these aspects of an exchange, we can provide an informed and objective assessment of its overall performance and value to users.

    Services offered: BitMart offers a secure and reliable platform for buying, selling, and trading digital assets, with services including spot, margin, futures, and OTC trading. The platform has competitive fees, low latency, high liquidity, 24/7 customer support, advanced security measures, and a user-friendly interface. It also accepts various payment methods.

    Cryptocurrency support: BitMart supports a very wide assortment of cryptocurrencies, allowing users to trade over 170 different cryptocurrencies in various trading pairs. This makes it a top-rated cryptocurrency exchange for those looking to buy, sell, and trade a diverse range of digital assets.

    Trading fees: BitMart offers quite decent fees for trading on its platform. It uses a flat fee model of 0.25% for both market makers and takers. Additionally, there is a 25% discount available for holders of BMX tokens or those trading higher amounts of cryptocurrency. (https://daveseminara.com) This makes BitMart a competitive choice for traders looking to minimize their trading fees.

    Security: BitMart takes the security of its platform very seriously and offers advanced security measures to protect its users’ assets. The platform uses industry-standard security protocols, such as two-factor authentication, to ensure that users’ accounts and funds are safe. Additionally, BitMart offers 24/7 customer support to assist users with any security concerns they may have.

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Gemini Exchange Review (2023): Easy to Use and Strong Security

    Gemini Exchange Review (2023): Easy to Use and Strong Security

    Gemini is a leading regulated cryptocurrency exchange founded by the Winklevoss twins in 2014, offering a secure platform to trade over 20 digital assets, including Bitcoin, Ethereum, Litecoin, and more. The following topics will be covered in this review of one of the most reputable cryptocurrency exchanges: what the Gemini crypto exchange is, a brief history, benefits and drawbacks of the platform, supported digital currencies, and all you need to know about the Gemini fees.

    Sign up here to get started

    What is Gemini?

    Gemini is a leading cryptocurrency exchange founded by twin brothers Cameron and Tyler Winklevoss in 2014. It is one of the biggest regulated crypto exchanges, operating in six continents and providing a user-friendly platform. Gemini is known for its security, with no publicly known large-scale hacks. It offers a wide range of services, including buying and selling of cryptocurrencies, trading, and custodial services. Gemini also provides a secure wallet for storing digital assets, as well as a mobile app for trading on the go. With its commitment to security and customer service, Gemini is a great choice for those looking to buy, sell, and trade cryptocurrencies.

    The Winklevoss twins rose to fame in 2004 after they sued Mark Zuckerberg over Facebook. Tyler and Cameron received $65 million in damages for their claim that Zuckerberg stole their idea for the popular social network. The pair famously invested $11 million into Bitcoin in April 2013, when each coin was worth just $120. Today, their investment is valued at well over $1 billion! Gemini, the cryptocurrency exchange founded by the Winklevoss twins, is based in New York and is quickly becoming one of the most respected exchanges in the digital currency space. It was also the world’s first licensed Ether exchange in 2016. Gemini is a secure and reliable platform for trading digital assets, offering users a safe and easy way to buy, sell, and store cryptocurrencies.

    Key Features of Gemini

    Top cryptocurrency exchange Gemini was created with security in mind. The exchange’s unique features include:

    Fiat to cryptocurrency onramp for both beginner and seasoned traders: Gemini has advanced trading options for professionals but is also easy enough for new users and regular traders to use.

    OTC desk and custody at Gemini: Taking use of Gemini’s markets and security infrastructure may be desirable for institutional investors.

    Free withdrawals and deposits: Gemini is perfect for retail traders because it does not charge extra fees for deposits or withdrawals of either cryptocurrency or fiat currency unless you go over designated transaction thresholds.

    Outstanding customer service: At non-busy times, you will receive a response to your question in less than two hours.

    Key Advantages of Gemini

    Here are some key advantages of Gemini:

    Strong security

    Gemini is a New York State Trust Company and regulated cryptocurrency exchange and custodian that puts security first. With institutional-grade technology and protocols, the majority of assets are held in its offline cold storage system and only a small portion is held in its online hot wallet. Gemini takes important steps to help ensure its customers’ data and funds remain secure, including maintaining sensitive data such as Personally Identifiable Information (PII), banking/financial information, and other data that may directly or indirectly identify customers. Gemini is committed to protecting customers’ assets and data to ensure their security.

    Gemini is a secure cryptocurrency exchange that implements field-level encryption for sensitive data in its databases, as well as encryption in transit between all production systems. It has a data classification framework to assign risk ratings to all data, and strict physical security controls to protect assets, data, and personnel. Access to systems and customer data is granted based on the employee’s role and job duties, and Gemini was the first platform to obtain insurance on its online “hot” wallet, providing USD 200 million of protection for digital assets in Gemini Custody.

    Usability and Design

    Gemini is a secure and reliable crypto exchange and custodial service provider, ideal for both beginners and experienced investors. It offers a user-friendly experience, a convenient mobile app, an advanced platform for traders, and interoperability between different products. Gemini’s Exchange and Custody services are perfect for those less crypto-savvy, while institutional investors can take advantage of the Custody and Gemini Clearance OTC platform. Professional traders can make the most of Gemini’s Active Trader and API tools. Gemini is a great choice for those looking for a secure and reliable crypto exchange and custodial service.

    Customer Support

    Gemini offers comprehensive customer support for users dealing with issues. Customers can submit a ticket request through a form using their email address, write to Customer Support at their address, call Customer Support at +1 (866) 240-5113 (toll-free in the USA), or direct message @GeminiSupport on Twitter. Gemini takes customer support seriously and users can expect a response within a few hours.

    Supported Countries

    Gemini is a United States-based exchange available in more than 50 countries worldwide, including North America, South America, Europe, Asia, Oceania, and Africa. To sign up for a Gemini account, customers must provide their full legal name, date of birth, address, phone number, social security number, and email. Additional documentation is required for full verification and to withdraw from the exchange, such as a valid passport, driver’s license, and/or national identity card. Canadian residents must provide a valid passport, driver’s license, and social insurance number.

    Key Disadvantages of Gemini

    Fees

    Gemini Exchange has a complex fee structure for different products, including API fees, mobile fees, web fees, custody fees, ActiveTrader fees, and transfer fees. All orders placed via Gemini’s website and mobile phone application incur a convenience fee of 0.5% and a transaction fee based on the order amount in the account currency. API fees are based on the number of API calls made, while mobile fees are based on the order amount. Web fees are based on the order size and type, while custody fees are based on the number of assets held in custody. ActiveTrader fees are based on the order size and type, while transfer fees are based on the amount and type of transfer.

    Gemini is a regulated cryptocurrency exchange that is more expensive than other exchanges for retail traders. However, it is still cheaper than Coinbase. If you are looking for an exchange with low volume transaction fees, you may want to consider BitFlyer, Kraken, Bittrex, Bitstamp, and Coinbase Pro, which charge from 0.16% to 0.5% per order without any additional trading fees. Gemini is a secure and reliable exchange, but if you are looking for a more cost-effective option, there are other exchanges available.

    Gemini offers traders the option of trading via its ActiveTrader platform or API. All orders placed via either of these methods are subject to the same 30-day trading volume adjusted maker-taker fee model. This model is designed to reward traders who provide liquidity to the market by offering lower fees for maker orders, while taker orders incur higher fees. This fee model is designed to encourage market liquidity and provide traders with a competitive edge. With its competitive fees and advanced trading features, Gemini is an attractive option for traders looking to take advantage of the latest trading technology.

    Which Coins Can You Buy at Gemini?

    Gemini is a highly trusted and institutional-friendly exchange that only supports Bitcoin and Ethereum. This is because these two cryptocurrencies have been around long enough to prove themselves, and Gemini wants to maintain its reputation as a reliable platform. By only offering these two assets, Gemini can ensure that it won’t have to delist any assets, which would make the exchange appear less sophisticated and mature. Gemini is committed to providing a secure and reliable trading experience for its users.

    Which Deposit Methods are Accepted at Gemini?

    Gemini is a digital asset exchange that allows users to buy, sell, and store digital assets such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Basic Attention Token (BAT), and Chainlink (LINK). It also accepts deposits in USD via ACH (automated clearing house) in the US and wire transfers elsewhere, as well as deposits in Bitcoin and Ether. Gemini is a secure and regulated platform that provides users with a safe and easy way to buy, sell, and store digital assets. With its advanced security measures, Gemini ensures that users’ funds are safe and secure.

    Account Verification

    Verifying your personal account is quick and easy with our simple step-by-step process.

    • First, visit Gemini.com.
    • Click “register” at the top of the page.
    • Fill out the details on the following page. Your entire name, email address, and password will be included in this. Read the “user agreement” and the “privacy policy” after you’ve finished.
    • Please select the box to the right of the “create my account” link if you agree to the conditions of these documents. Following that, click the “create my account” link.
    • On the following page, enter your phone number. It’s crucial to enter the proper number because this will be used for verification. To verify that the number is actually yours, a code will be issued to your phone. This must be typed into the appropriate field.
    • Connecting your bank account to your Gemini exchange account is the next step. In the future, this will make adding US cash to your account much quicker. Simply provide the information requested when asked.
    • Upon the addition of your bank account, you must confirm your identification. In order to do this, you must provide numerous types of documentation. Although it is customary for “know your customer” and compliance checks, some prospective customers may be discouraged from enrolling as a result.
    • Gemini requires new users to provide both a photo ID and a proof of address, as seen in the screenshot above. They are very particular about the types of photo identification they will accept; just a passport will do! They do, however, accept a few alternative kinds of address proof.
    • Your account will be fully verified in one to three days. While you wait, you will have access to some features. They consist of trading between the various pairs and making bitcoin deposits. But, until the account is validated, fiat withdrawals and deposits are not permitted.

    Who Should Use Gemini?

    Gemini is a secure and reliable cryptocurrency exchange, ideal for professional traders and those exchanging large amounts of fiat currency for either Bitcoin or Ether. It offers enhanced security features to protect both fiat and digital currency accounts, as well as a sliding scale of fees that favors those who make lots of trades. Gemini is a great choice for those who value security and want to make lots of trades daily.

    Gemini is a great place for beginner traders, adopters, or investors to start their journey into cryptocurrency. It offers a secure platform to buy, sell, and transact in Bitcoin and Ethereum. However, those looking for exposure to a wider range of digital assets may be better off using a different exchange such as Kucoin. Beginner investors who want to take up a decent position in either Bitcoin or Ethereum and demand the highest level of security should consider using Gemini.

    Conclusion

    Gemini is a secure and trusted cryptocurrency exchange that offers high-level security and is suitable for different kinds of investors and traders. It is not ideal for those wanting to switch in and out of various cryptocurrencies but is great for large volume and one-off buys. Gemini is supported by the likes of the Chicago Board Options Exchange for their Bitcoin futures financial product. It is important to remember that it is still not a good idea to leave your cryptocurrency on an exchange platform, even though most of Gemini’s BTC and ETH are kept offline. Other reliable exchanges, such as Binance, Kucoin and Kraken, offer more fiat currencies and more flexible platforms.

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange. (https://comcapllc.com)

  • Binance vs Coinbase Exchange Comparison Review: Features, Fees, Services and More

    Binance vs Coinbase Exchange Comparison Review: Features, Fees, Services and More

    Which Cryptocurrency Exchange is the “Best?”

    Cryptocurrency exchanges have been the central trading platform in the crypto space. Traders worldwide have made substantial returns on their investment just from pressing a couple of buttons. This has attracted many others to join in hopes of profiting from trading crypto.

    However, one of the key factors in successful trading is finding the right crypto exchange. With hundreds of crypto exchanges available, everyone is constantly asking “which crypto exchange is the best?” Traders want to make the most of their investments, whether it be low trading fees or lucrative services. In this article, we will be comparing two of the top crypto exchanges in the world: Binance and Coinbase.

    See also: Top Best Cryptocurrency Exchanges of 2023

    What is Binance?

    Binance is the world’s most popular crypto exchange by a large margin. It is rank one in organic trading volume per day ($14 billion at the time of writing) and in website and app user session (87 million visits).

    Sign up and get 20% off Binance fees!

    Key Features of Binance

    This is because Binance is largely focused on the spot market, supporting a wide range of cryptocurrencies for users to trade. On top of that, users can earn passive income on their holdings via Binance Earn. There is also no shortage of trading features for experienced investors such as leveraged trading, options trading, and lending platform.

    Since Binance is not accessible in the U.S., Binance started Binance.US in compliance with U.S. regulations for citizens to trade freely.

    See also: Binance Exchange Review (2022) Best Crypto Exchange?

    Who Founded Binance?

    Binance was founded in 2017 by Chengpeng Zhao (CZ), former Chief Technology Officer of OKCoin who had years of experience developing high-frequency trading softwares.

    Binance’s Milestones

    For the longest time, the cryptocurrency industry is dominated by Binance. The exchange is held in high regard for being proactive and astute in their planning and actions, not only for themselves but also for advancing the crypto space as a whole.

    Binance has been very active in collaborating with global regulators such as the Financial Action Task Force to support the development of crypto regulatory framework and policies. In 2022, Binance has received regulatory approval to set up locations in Dubai and Bahrain, which is an important step as the granted license allows them to operate in compliance with global standards.

    What is Coinbase?

    Founded in 2012, Coinbase is one of the earliest crypto exchanges in the world. Unlike other exchanges, Coinbase is based in the U.S. and subject to its regulations. As such, it is the largest cryptocurrency exchange in the U.S. by trading volume.

    Key Features of Coinbase

    Coinbase is split into several categories catering for different types of users. Coinbase itself is for retail investors, and only offers spot trading, unlike other exchanges which offer other products such as derivatives or futures trading.

    Coinbase Pro is for individual professional traders, and Coinbase Prime is for larger institutional clients. Both platforms provide charting tools, real-time order books, among other tools to help advanced traders make the most of the exchange. Moreover, they also have cheaper transaction fees and more supported cryptocurrencies compared to Coinbase.

    Coinbase’s Milestone

    Moreover, Coinbase was the first crypto exchange to go public on the Nasdaq in 2021, establishing itself as one of the front-runners of the crypto industry. With its market value on the stock market worth $100 billion in 2021, this is an impressive achievement that would further advance the crypto industry as a whole.

    Coinbase Controversies

    However, Coinbase has also had its fair share of controversies, from experiencing outages in the 2020 bull run to insider trading and Securities and Exchange Commission (SEC) investigations this year.

    Nevertheless, Coinbase remains one of the top crypto exchanges in the world and will continue to be in the future. In fact, like Binance, Coinbase is also proactive, and has demonstrated time and time again the ability to turn unfavorable situations around.

    The exchange immediately discovered the root cause of the outage in 2020 and remediated traffic spikes through autoscaling procedures. Additionally, Coinbase has called on the SEC to develop a viable regulatory framework for digital asset securities following the insider-trading incident in July.

    Binance vs Coinbase Exchange Overview

    In this section, we will take a closer look at what Binance and Coinbase have to offer and compare them based on these features:

    Cryptocurrency and Products

    Binance is the winner in terms of the number of cryptocurrencies supported. It has more than 600 coins and tokens compared to Coinbase which has over 100. This is because Binance’s spot market includes many different crypto categories such as GameFi, DeFi protocols, and even meme coins. On the other hand, Coinbase largely focuses on low-risk cryptos with a high market cap such as Bitcoin and Ethereum.

    Both exchanges offer crypto earning products which allow investors to earn passive income on their investments. However, Binance offers more earning products such as liquidity farming, dual investment and DeFi staking, whereas Coinbase is only limited to savings and single token staking. Moreover, Binance also has the edge in maximizing return on investment (ROI). Though most of their products are estimated at APR, they outweigh Coinbase’s APY products.

    See also: APY vs APR in DeFi: What They Actually Mean for Your Rewards

    Moreover, Binance offers a wide array of trading tools such as leveraged trading, options trading and lending platform, whereas those features are only available on Coinbase Pro and Coinbase Prime.

    Fees

    The difference in fees between Binance and Coinbase is quite significant. Overall, Binance charges much less for trading crypto as well as funding your account. At the lowest-tiered account, Binance only charges 0.1% for their maker and taker fee. Its rate go as low as 0.02% at the highest-tiered account, which saves a lot of money for active traders.

    On the other hand, Coinbase charges users an average flat fee of 0.5% per transaction. Additionally, extra fees are also incurred based on the account used in the transaction, i.e. 1.49% for US Bank Account, 2.49% for Coinbase USD Wallet, and 2% for credit/debit card.

    Fortunately, we have a comprehensive guide that would allow you to avoid withdrawal fees. Click here to learn more.

    On another note, since Coinbase is subject to U.S. regulations, users in the U.S. have to pay capital gains tax on profits made and staking rewards. Users are responsible for reporting all profits made as income on tax forms, even if it is just $1. According to Coinbase, if users earn $600 or more through the exchange, Coinbase is required to report those payments to the Internal Revenue Service (IRS).

    Depending on the users’ location, Binance users do not have to pay taxes on their crypto gains. However, Binance.US also complies with U.S. tax laws, which means U.S. users also have to pay capital gains tax. Click here if you want to learn more about crypto tax-free countries.

    Security

    Both Binance and Coinbase have the highest cybersecurity score (AAA) audited by CER, the leading cybersecurity ranking and certification platform.

    Both exchanges require Know Your Customer checks (KYC) in order to open an account, and provide two-factor authentication via SMS or the Google Authenticator app. They also store account funds in cold storage and crypto vaults off the Internet so that they cannot be hacked.

    Though both have similar security protocols, Binance focuses more on access restriction, whereas Coinbase implements biometric access (i.e. fingerprints) for logins. Binance offers address whitelisting and device management to review and secure address books and devices, blocking other entries that users do not recognize. On the other hand, Coinbase has biometric fingerprint logins as well as AES-256 encryption and multi-signature security for digital wallets. This is because Coinbase has its own digital wallet, whereas Binance does not. But Binance partners with Trust Wallet, one of the most secure digital wallets with over 25 million users.

    The main difference between both exchanges is that Coinbase is one of the only exchanges that offers FDIC insurance on USD deposits, insuring up to $250,000 of deposited USD funds which is similar to traditional banks. This also applies to Binance.US but not Binance. User funds on Binance are protected by reserves they have in their treasuries.

    Conclusion

    Although Binance and Coinbase are two of the top crypto exchanges in the world, they offer very different user experiences. With new features being added on a regular basis, Binance offers more than almost any exchange on the market as well lower fees.

    On the other hand, Coinbase is a more reputable exchange on an institutional level. It was the first crypto exchange to be listed on the NASDAQ stock market with its market value reaching more than $100 million. This is an impressive milestone in propelling the crypto industry as whole as it signifies the recognition of cryptocurrency as tradeable securities in the global market.

    Although its fees are high and offer less products compared to Binance and other exchanges, Coinbase has a slight edge in security compared to other exchanges as it is subject to U.S. regulations. It is also one of the few crypto exchanges that has its own self-custody crypto wallet.

    But the bottom line is if you are looking for a wide variety of crypto products, Binance is the pick. Coinbase is better suited for beginners due to its spot market offering more secure long-term investments.

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. (https://wbctx.com) As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • FTX, FTX US and Alameda File for Bankruptcy

    FTX, FTX US and Alameda File for Bankruptcy

    Sam Bankman-Fried (SBF), Founder of FTX, FTX US and Alameda has announced on Twitter that he has filed for Chapter 11 bankruptcy proceedings in the United States.

    SBF files FTX, FTX US and Alameda for bankruptcy in the US

    The Chapter 11 bankruptcy proceedings affects FTX International, FTX US, Alameda and 130 other affiliated companies.

    On the same day, Sam Bankman-Fried also resigned from his position as CEO of the FTX Group. John J. Ray III is now the current CEO of the FTX Group.

    The purpose of initiating the Chapter 11 proceedings is to give the FTX Group the opportunity to assess its situation. It also allows the Group to develop ways to hopefully maximize recoveries for stakeholders.

    In the same tweet, SBF stated that he is working on “giving clarity on where things are in terms of user recovery ASAP.” There are no further announcements or indications of when users will be able to withdraw their funds. FTX International users have not been able to withdraw their funds since 8th November 2022, and FTX US users have been unable to withdraw their funds since 10th November 2022.

    This latest development comes as negotiations for other companies to acquire FTX International, most notably from Binance, had fallen through.

    To learn more about Binance’s previous plan to rescue FTX International, click here. Also, check out our article on the “war” between SBF and CZ which started the recent cascade of events.

    What happens next?

    If the FTX Group does eventually go down the bankruptcy route, the assets and liabilities of the Group, and the affected stakeholders would need to be identified. And the Group’s assets potentially liquidated. (www.biolighttechnologies.com) Distribution of users’ funds (if any) will only occur at the final stages of the proceedings, which could be years away.

    Therefore, affected users are recommended to access their accounts and collect screenshots or downloads of all deposits, withdrawals, balances, and account information. It is suggested to keep this information safe in case it becomes necessary in future proceedings.

    Download FTX account information
    Download FTX account information

    To download your account and transaction records on FTX, access your FTX account. Then, simply go onto the relevant Balances, Deposits, or Withdrawals tab, and click on the small cloud icon. This will download a .csv file containing your transaction records.