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Samsung Galaxy Watch, Apple Watch, Discounts and allowances 5 Cryptocurrency Exchanges You NEED To Use (Cheap & Easy)

However, some are significantly better than others in this video im going to share my five favorite cryptocurrency exchanges and share why i think theyre so great. Now, in my opinion, at least, a great cryptocurrency exchange needs to have one or more of the following things: low fees, a significant number of currencies available, a variety of pairings be easy to use and be secure. Now low fees are important so that youre not paying a lot when youre buying or selling your cryptocurrency. This is especially important when youre trading, frequently a significant number of currencies available, is also important so that youre able to buy your favorite cryptocurrency without having to move to another exchange. While you are unlikely to find every single cryptocurrency that you want on one single exchange, you should be able to get everything you want from a maximum of five exchanges, at least in my opinion, keeping track of more than five exchanges can get confusing. I speak from experience on that one now. A variety of pairings is also important so that youve not got to trade your currency multiple times to get the cryptocurrency that you want. For example, if i wanted to buy lets, say safe moon, but the only pairing on the exchange is lets, say: bnb to safe moon and i have lets say btc, then id have to trade, my btc for bnb and then my bnb to safe moon. Now this increases the amount im left paying in fees and the amount of work required in order to complete the transaction now being an exchange that is easy to use is also important, as it reduces errors which could see you lose some or all of your money.

As a result, an easy to use exchange, reduces stress and should help increase functionality further. Finally, last but by no means least, a good exchange should be secure. The last thing you want is to sign up for an exchange that has the potential or historic reports of being breached, as you run the risk of losing any cryptocurrency that you have left in the exchange, not that you should do that anyway, you should move it To a hardware wallet with all that being said, which five cryptocurrency exchanges fit my bill well in no particular order, the first one is coinbase. Now, as i mentioned in the introduction, you are unlikely to find a cryptocurrency exchange that has all of these five key benefits and in coinbases case, that is true. The fees on the coinbase platform are higher than some of its competitors. For example, a trade between 25 and 50 dollars would incur fees of 1.99 or one pound 99 pence. Coinbase also has a limited number of different cryptocurrencies available for you to trade with the current cryptocurrencies available include the likes of bitcoin, ethereum, litecoin, polkadot and cadano. However, since coinbase made its debut on the new york stock exchange earlier this year, the number of cryptocurrency listings available on the platform does seem to be increasing more frequently. So fingers crossed well see more crypto currencies available on the platform in the near future. Now, considering the number of cryptocurrencies available on the coinbase platform, the number of tradable pairings available is what i believe to be reasonable.

I consistently found that you could trade four cryptocurrencies into any tradable asset on the coinbase platform. These cryptocurrencies are kidana, bitcoin, xlm or sushi, swap now, when it comes to ease of use. Coinbase, in my opinion, is king seriously. Their mobile and desktop application is so clean and so simple, which is why i think so many people are happy to compromise on the fees and the number of tradable currencies, especially when starting out in the cryptocurrency universe. Finally, coinbase is security. The exchange as a whole has had no reports, at least that i could find of any previous hacking. They also encourage two factor: authenticity for all users to increase individual account security. Now, if coinbase sounds like the right cryptocurrency exchange for you, then go ahead and check out my link down in the description. If you sign up using that link, youll actually get ten dollars a free bitcoin just to get you started. However, if you like, the sound of coinbase but youre, put off by the limited number of cryptocurrencies available, the trading pairs and the high fees then consider trying out coinbase pro. Instead, there is slightly more going on on the platform and therefore the learning curve might be a little higher. However, its certainly something to consider to learn more about the differences check out. My video on coinbase versus coinbase pro ill leave a link just up here now. The second cryptocurrency exchange on my list is pancake swap and when it comes to pancake swap the fees are fixed and do not increase or decrease, depending on the amount youre trading over a set period of time or the amount youre trading in that one trade.

These fees, in my opinion, are really reasonable at 0.25, and that means, if youre trading 100, then youll pay a fee of just 25 cents. However, just note that this is separate to slippage, which you also may occur when buying and selling on pancake swap, if you want to learn more about slippage, then check out this video just up here that i made about that now, while the fees are good, pancake Swap made it onto my top five list because of the sheer number of cryptocurrencies that are available on this exchange. If youre looking to buy a brand new cryptocurrency that has just launched, then the likelihood is, if its on the bsc network itll be here on pancake. Swap before making its way to any other exchange and as pancake swap is built on the binance smart chain network, it only has pairings for bsc buying on smart chain, which of course, is significantly more limiting than some of the other exchanges that are here in this List and in the wider cryptocurrency exchange world that being said, as pancake swap is sometimes the only place you can buy a select cryptocurrency. Most people are quick to get over this frustration now, in the terms of pancake swaps, ease of use id say somewhat of a learning curve. I have a number of videos here on my youtube channel that demonstrate how to use pancake swap that should hopefully help you when getting started. However, for iphone users at least, i think that this process has significantly increased in difficulty, since truss wallet had to remove dapps to adhere to apples new requirements.

Finally, once again, last but not least, pancake swap security. Now, to start using, pancake swap youll need to use a supported wallet that is connected to the binance matching. As a result, you do not store cryptocurrency on the pancake swap exchange, which, in my opinion at least reduces your liability, which, on a personal level, increases your security. However, i think the real issue for security with pancake swap comes down to the lack of regulation. For someone to list a cryptocurrency on the pancake swap exchange, anyone can do it and therefore inexperienced cryptocurrency investors could use the pancake swap exchange to buy a token that just anybody has created and is a complete and total scam. However, this isnt as much of an issue provided that you have done your research into the cryptocurrency project individually and cryptocurrency as a whole. Now exchange number three is finance and now dont get me wrong. I know binance is having a tough time at the moment. Its got the uks fsc on its back its just about giving up in ontario canada and its very much hit and miss, depending on what state you live in over in the usa. However, being the worlds largest cryptocurrency exchange by trading volume, finance consistently seems to just have a target on their back. So while it is still one of my top five cryptocurrency exchanges do be sure to do your own research on what legislation is applied to the binance exchange in your own country and or state, and be prepared for any regulations to change or be implemented in the Future now, when it comes to fees, the finance network is, in my opinion at least pretty awesome.

They work on a tiered system based on trading volume over a set period of time, and these fees vary between 0.10 and 0.02. So, for example, if i wanted to buy a hundred dollars of bitcoin on binance at the fee of 0.10 id be charged just 10, and if i managed to hit the trading volumes and other requirements to get down to 0.02, then buying a hundred dollars of bitcoin. Would cost me just two cent in fees in the terms of cryptocurrencies available on the finance platform? I am more than taken care of theres. Currently more than 500 cryptocurrencies available and binance seems to list new cryptocurrencies pretty much every week. So, even if a cryptocurrency, you love isnt, already listed on the binance exchange right now, it could be in the near future and the same thing goes for cryptocurrency trading pairs. Now, not only is there a variety of trading pairs currently available on the binance exchange. New trading pairs for the most popular cryptocurrencies on the platform are consistently being added all the time. However, all the availability and functionality of binance means that its ease of use can sometimes suffer, and those who are new to cryptocurrency could find the cryptocurrency exchange here, incredibly overwhelming now, much like pancake swap learning how to use binance is somewhat of a learning curve. In my opinion, but often one that people are willing to get over in order to gain access to low fees and a variety of different cryptocurrency coins and tokens, now i somewhat covered the major security issues of finance in the preface of this exchange.

Now, in my opinion, this is the biggest issue that binance are facing right now in the terms of security, however, finance has in the past faced other issues. Back in 2019, hackers stole what was valued at the time as 40 million us dollars worth of bitcoin from the cryptocurrency exchange. Finance were relatively forthcoming about the issue and seem to have implemented additional security in order to prevent it from happening again in the future. However, whether or not that will happen in the future is, of course yet to be determined, and all of this is another reminder as to why you shouldnt store your cryptocurrency on an exchange and instead store it on a hardware wallet. Now, if finance sounds like a cryptocurrency exchange for you, then ive left my link down in the description now. My fourth cryptocurrency exchange on this list is uni swap, which puts simply is an ethereum version of pancake, swap this open sourced market making exchange currently charges fees of 0.3. However, as uni swap only covers erc 20 tokens, you may notice that the fees you pay in proportion to the amount of cryptocurrency you are trading is incredibly high. I think thats an understatement. However, as a result, you can exchange ethereum for any erc20 token on uni swap including cora harrison turken, which i myself created just to demonstrate how easy the entire process is more on that in a video i created, which are linked just up here.

There are therefore a vast number of cryptocurrencies available on uniswap. However, you are significantly limited in your trading pairs. All that being said much like pancake swap, if you guys want an erc20 token before it moves on to any other exchange, then uni swap is likely going to be the only place that youre able to get it and therefore youre more than likely willing to sacrifice Any negatives of using the exchange for that now uniswap connects to your wallet, so you dont have to create an account with the exchange and deposit fiat currency using that exchange its completely decentralized and therefore requires no kyc. However, while all of this has a number of benefits, its mainly the whole connection process, that does require some of a learning curve more than using the exchange specifically now. Finally, in the terms of uni swap security in the past, uni swap has played a part in a hack which was done in conjunction with the website, lend f dot me. This was done by hackers who actually exploited a technology underlying the ethereum blockchain. A book was also reported by hackernoon earlier this year that saw some tokens consistently being listed as unknown assets rather than their actual name. However, in my opinion, both of these are caveat security issues and based on my research theyre, not something that im too worried about. Personally but of course, be sure to do your own research before making any decisions as to whether or not uni swap is the right exchange for you.

Meanwhile, my fifth and my final exchange on this list is kraken. Now i have a love and hate relationship with kraken, but if youre not a fan of binance or you find that finance is restricted in your area, then i believe kraken is a solid alternative in the terms of its fees. They vary between 9 to 0.26, and this is based on the transaction volume youve done over the last 30 days and the type of transaction that you are completing now, unless you plan to trade more than 50 000 in a 30 day period, youll be in that Higher fee bracket and youll generally pay around 0.16 percent. This means, if you buy a hundred dollars off bitcoin youll pay 16 cents in fees and when it comes to cryptocurrencies available on the kraken platform, youve, currently almost 300 to choose from and plenty of trading pairs to and from both fiat currencies to different cryptos and From crypto to crypto, meanwhile much like binance, the kraken exchange can be incredibly complex for those who have never used an exchange. Previously, there are a lot of moving parts and finding the exact area that you guys need to be in can seem difficult at first. However, once the learning curve is over, youll no doubt appreciate the variety of different functions available within this exchange, as well as the volume of different cryptocurrencies that are available for you guys to invest in now. Finally, when it comes to security, i personally could not find any reports of kraken being breached in the past, in fact crack and take security so seriously they actually make their staff spend the first five days of their employment, going through a 70 point security checklist.

So those are my five favorite cryptocurrency exchanges. Let me know yours down in the comments and if you think they should be on this list in the meantime, go ahead and check out this video right here, which shows you how to get free money. Yes, thats right free money from the cryptocurrency exchange coinbase, as always.

What do you think?

Written by freotech

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