Recently the capitalization of cryptocurrency reached $ 500 billion and continues to grow, however, not all exchanges have equal capitalization.
In this article, we will try to figure out who are the biggest and safest crypto exchanges. The main goal of this research is to get an answer to the question: Who is the biggest crypto exchange?
6 Major Exchanges
Coinbase, Bitfinex, Kraken, GDAX, Gemini and Bittrex. All exchanges have certain pros and cons to consider when choosing which one will be right for you.
Below we’ll look at each major U.S.-based exchange as well as each exchange's average fees for buying bitcoin with a credit card or bank account. We'll also examine what payment methods are available on each platform as well as their strengths and weaknesses...
It’s important to note that these rankings are based on our research alone, so do your own due diligence before depositing any funds into an exchange. This list is not meant to be exhaustive of all exchanges out there today but instead focuses on those most popular among U.S.-based traders in 2017.
This list was last updated on December 5th, 2017. In addition to comparing specific aspects of different exchanges, it’s also worth considering some general questions about security.
For example: Does the exchange offer two-factor authentication (2FA)? 2FA adds another layer of security by requiring users to enter a unique code sent via text message or email every time they log in.
In other words, even if someone else knows your password they won't be able to access your account without that additional code. As far as I know, every major cryptocurrency exchange offers 2FA. Does it use cold storage (offline wallets) for its customer deposits?
Cold storage is a must for large amounts of cryptocurrency—it would be foolish and reckless not to use it! How long has it been operating without interruption?
Which Exchange Is Best For You?
Exchange security can be a major factor in choosing where to buy and sell cryptocurrency. When choosing an exchange, it’s important to understand that not all exchanges are created equal—especially when it comes to keeping customer funds safe.
Some of the most popular exchanges have been known to temporarily halt customer withdrawals due to technical issues or regulatory compliance checks, resulting in significant losses for their users.
In fact, some major exchanges have been hacked by criminals who’ve made off with millions of dollars worth of digital currency. For example, Mt Gox reportedly lost more than $450 million USD worth of bitcoin over a two-year period due to poor security practices and customer service complaints.
Do Your Own Research
Many investors take and if you build it, they will come to approach investing. That might work in some sectors and at certain times, but it’s rarely a good long-term strategy. If you invest without doing your own research and understanding what you’re investing in, your chances of success are limited.
The same goes for picking an exchange – or wallet – where you plan to keep your cryptocurrency. Read up on different exchanges and wallets (which are software applications that allow you to store your coins on an online server).
Narrow down what appeals to you and then look into them further. Do they have fees? How secure are they against hacks? How reputable is their team? Are there any complaints about them online or with other industry players?
These are all questions you should ask before deciding which one is right for you. Just because a platform has been around for years doesn’t mean it’s still trustworthy; it could be running outdated code, or worse, scamming users with fake volume.
There are many variables to consider when choosing an exchange or wallet. Some can be tailored specifically to your needs; others may be more generic. Weigh these options carefully before settling on one. Remember: In cryptocurrency, security trumps convenience every time!
So even though you might like how easy a web-based wallet makes buying and selling your digital currency, it could also expose you to hackers who steal your funds. Security is paramount. When making an investment decision, always weigh security over short-term gains or convenience.
For example, Coinbase offers one of the most popular web wallets out there – but that doesn’t make it immune from cyberattacks. Be sure to research potential vulnerabilities before putting any funds into a new wallet or exchange account.
Cryptocurrency Safety Tips
Cryptocurrency exchanges are less regulated than regular stock exchanges. Once you send your cryptocurrency to exchange, it can be stolen by hackers, stolen by administrators, and/or mismanaged.
If you want to invest in cryptocurrencies but are uneasy about depositing funds on an exchange, there’s an alternative: You can become a cryptocurrency miner. Mining involves using high-powered computers to perform complex calculations for which miners are rewarded with cryptocurrencies—but only if their answer is correct.
Some miners have large mining rigs built with multiple high-end graphics cards that cost thousands of dollars each; others use small CPUs that run software written specifically for mining cryptocurrency coins.
It takes time to set up a mining rig and get it running smoothly, so as soon as you do, we recommend sending your mined currency directly to an offline wallet (more on these later). This will keep your money safe from cybercriminals who might target online wallets.
Additionally, always make sure you double-check all transactions before clicking send. And remember: Transactions can take some time to process, so don’t assume that just because you sent some bitcoin somewhere that it was received immediately.
It may take a few minutes or even hours for transactions to complete depending on how busy the network is at any given moment.
Conclusion
Although Binance and OKEx claim to be leading in daily trading volume, it’s essential to keep in mind that not all exchanges are actually transparent about their figures.
And considering that BTC transactions are only registered when they are confirmed, several exchanges may manipulate their volumes. This can make data comparisons a little tricky—and frankly, maybe not even worth your time.
So while we can’t say for sure who has exactly the most volume across all exchanges, one thing is certain: as long as investors continue trading on these platforms, there will continue to be problems with fake volumes. Be careful out there!
_11zon.jpg)
