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Ethereum Exchanges – Introduction
In this post, we will talk about “Top 10 Ethereum Exchanges for 2018 (Trusted Exchanges)”. Ethereum is the most versatile cryptocurrency out there today, and it is able to take over from the Bitcoin, in the future. Currently rated as the number two, of digital currencies, Ethereum enjoys much attention from many who value cryptocurrency.
With a market capitalization of over $43 billion, and an opportunity to carry out a wide range of financial activities, you may want to get some Ethereum tokens.
You may like to read: 5 BEST WAYS TO GET ETHEREUM (BUY/ TRADE/ MINE)
What are Ethereum exchanges?
Ethereum exchanges refer to sites where one can exchange Ethereum tokens for fiat money or other cryptocurrencies like Bitcoin.
*Note: Ethereum is a platform, in which the unit of currency, Ether, and many other tokens are used. So Ethereum in this article refers to the platform, as well as every other token within it*
Exchanges serve three purposes:
- Currency conversion: At a certain rate, an exchange can allow you get other currency for the currency you wish to part with, by offering a secure means to sell or buy them.
- Margin trading: A couple of exchanges lend coins to margin traders, at certain leverage, for them to trade with. Margin trading means you borrow some coins from an exchanger, add yours too and then buy coins when cheap so you can sell when their value increases. A huge portion of the profits remains with you.
- Storage: An exchanger, like Coin base, allows you to store the cryptocurrency you just purchased with them. However, it is not very secure, and your money may not be refunded if lost, so I don’t advise the use of exchanges for this.
Features of a Good Exchange
- Security: there have been cases of exchanges being hacked and millions of dollars lost. A notable one being that of Bithumb, from which data and money of over 30000 users were
- Currency allowed: some exchanges only accept a particular currency, others accept other altcoins, and some also allow one to buy Ethereum using different currencies. Choose the best Ethereum exchanger for the fiat currency you have.
- Area served: some exchanges offer services to only Europe, some only specific countries. Make sure you choose the one who serves in your geographical location.
- Exchange rate and fees: The rates of Ethereum exchanges vary due to many factors. However, some Ethereum exchanges sell at notably higher amounts than others, so you have to compare.
- The volume of trade: exchanges that experience a higher volume of trade are more reliable. Poor or unsteady volumes of trade can be dangerous to Ethereum exchanges. Go for exchanges with high transaction activity and quick processing time.
Based on these considerations, here is a list of the best Ethereum exchanges.
Top 10 Ethereum exchanges
Coinbase is the most popular Bitcoin exchange, which also trades Ethereum and Litecoin. Coinbase offers services to about 32 countries, including USA, Canada, Singapore and some European countries from where customers can easily buy bitcoin using their credit cards or just their bank account. It also has a user-friendly interface good for beginners.
Launched in 2013, Coinmama is a broker which allows one to buy Ethereum using cash deposits via money gram and western union or using credit cards. It offers its services to most countries in the world using credit cards, the verification of a customer is not mandatory for certain amount of Ethereum purchases and Bitcoin is also available on Coinmama. The only downside s that it has high fees. Nonetheless, it is highly recommended to me.
It has just about the largest trading volume among all the Bitcoin exchanges, but it also offers other cryptocurrencies. It was established in 2014 and offers a lot of coins with which to trade. It does not allow the purchase of Ethereum but the exchange of Ethereum with other currencies. Poloniex has a wallet to store all cryptocurrencies. It has mobile and desktop interface and is user-friendly and also offers good security.
Bitrex is a U.S-based exchanger, which offers a large number of cryptocurrencies to exchange with. Bittrex has a large trading volume and a user-friendly interface. Transactions and payments are instant, and the fees charged are minimal. Although Bittrex has a top-notch security, it does not allow one to buy altcoin, but to exchange other cryptocurrencies for it.
CEX i0 is an exchange which accepts all the major world currencies, including USD, Euros and RUB to buy Ethereum directly. It also offers margin trading using Ethereum. CEX.i0 once offered cloud mining but now exists as an exchanger alone (since 2015). It allows you to buy coins for a limited amount if you have a verified account and is very user-friendly. It takes a rather lower rank in this review because of the incident of delayed payments and poor reaction from its administrators, when it had an unbalanced trade. Nonetheless, CEX.i0 is special because you can sell coins at the same price you bought them. It also allows payment using credit or debit cards. Before you exchange Ethereum here, you must first provide your Id, after that, every other thing moves swiftly.
Established in 2011, Kraken is one of the most experienced exchanges which allows trade in many currencies such as USD, GBP, CAD, EUR and JPY and for cryptocurrencies like Ripple, Dogecoin, Litecoin, Ripple, and Ethereum. It also serves a large number of countries including US, Japan, India and Europe. It also has a large trade volume. Kraken requires personal information before you can open an account with them, and it also takes some time to get an account here.
Bitfinex is the fastest way to buy any amount of Ethereum, without any difficulty. It also exchanges all the altcoins available, providing a worldwide coverage. Bitfinex has a mobile app currently, and has security as its number one priority. The user interface is customizable, making it easy to use.
GDAX offers you the opportunity to trade Ethereum and other coins like Litecoin and Bitcoin, on a US-based exchange. It is the most trusted digital asset exchange and has all its assets insured. For extra security, it stores all user information offline, and it is very safe. The use of GDAX will prove worth it because it gives you all you want.
This exchange was created in 2015, by the co-creators of Facebook Tyler and Cameron Winklevoss and it uses bank and wire transfer to buy or sell cryptocurrencies. It is a very good Ethereum exchange, which has gained much of the market, because if its user-friendly interface. It also exchanges Bitcoin, has a good community support and charges very low fees. For security, users are required to use the two-factor authentication. However, they have a limited deposit amount of just $500.
This is a crypto-asset exchange site, which also has a mobile app. It was formed in China and has been offering reliable exchange services for some time. The major currency used here is the Chinese Yuan. It is pretty easy to use for beginners and offers very low fees and extra security you can very well rely on.
These exchanges modify their services from time to time, and some have hitches unexpectedly. Therefore, never store your Ethereum on an exchange; always sends them to a safe Ethereum wallet.
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