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Best Crypto Exchanges December 2024
What is an Crypto Exchange?
A crypto exchange is a place where you can exchange fiat currency like Euro and dollars, to your favourite cryptocurrency or you can buy and sell crypto against other cryptocurrencies. There are 100’s of Crypto Exchanges available online, and while most of them offer the same service, then the price for exchanging your money for coins is different from place to place, and something you need to be aware of. While exchanging from fiat to crypto or visa versa, is what most people do, then there is so much more to exchanges today. Some of the big names offers for example an variety of staking options and lending possibilities where you can place your money and earn a yield that is paid out from anywhere between every day to monthly and in the range of 2% yield/year all the way up to 50% yield/year. You will find both lower and higher yields, but please do your own due diligence before placing your money in something too risky. “If it sounds to good to be true, it most likely is to good to be true”
Best Crypto Exchanges
What to look for when choosing a Exchanges?
As with any other thing in the world, then there are many Crypto Exchanges out there and they all promise you amazing things, but before you join the first and best crypto exchange, then there are several things you can do to make sure you join the exchange that fit your needs best
- What do you want to do?
Might sound like a simple question, but it is important for you to be sure about what you actually want to do. Do you want to deposit dollars > exchange to bitcoin > sent to wallet or casino? or do you want to exchange from one currency to another? - What fees do the exchange charge and when?
You always want to know what you pay for any kind of service or which fee is charged for exchanging coins to avoid any unpleasant surprises. Any exchange or broker will publish the fee they charge and if you do not find this easily accessible then you should be cautious. - Do you want to trade or only buy or exchange?
While for some there is no difference between exchanging fiat to coins vs trading as the volume you put in is not enough to make a big difference. But some of the differences could be faster execution time, lower fees and the number of trades you can do against coins and currencies. If you just want to swap fiat to crypto, you should only worry about single transaction fee and fees related to deposit and withdrawals - What type of coins are you interested in?
Bitcoin is the preferable coin for gambling, but it is not the only option. If you play a game or on a site that require specific token or coins, then you should be aware that not all Exchanges support the same tokes and coins. Be sure to check out if your favourite coin or token is traded at the exchange before signing up. - What type of currency do you use to deposit and does the exchange support it?
We all have our favourite fiat currency that we work with and get paid salary in, pay bills and buy food with. You might have cash in this valuta and use this when you buy crypto and do other things online. Nowadays exchanges support most currencies but make sure to check out if your local currency is also supported and if there are any unexpected fees related to any kind of transactions. You don’t want to find out that the exchange charge high fees for changing to crypto or when you request a transfer. - Is the Exchange legally available in your country?
While Cryptocurrency is mostly unregulated, then the exchanges do fall under financial laws in countries around the world and are heavily regulated by governments. It is impossible for us to list all regulations there is in place for all exchanges, so do your due diligence and read up on your local laws to know if an exchange is legally available in your country. - Is the Exchange licensed?
Some offshore Exchanges do not hold any license and some of them also do not have the same KYC requirements as the licensed Exchanges but use only the one with a good reputation. Licensed exchanges do in some cases offer more security of your tokens, but at the end of the day “Not your keys, Not you coins” is the same if the exchange is offshore with or without a license or placed in a country with regulations.
Frequently asked questions about Crypto Exchanges
A Crypto Exchange is a place where you can buy and sell cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, Solana and much more.
You will find different types of Crypto Exchanges and your personal prefences determines which type suits you best.
Offshore Exchange is based out of the sight of regulators and is operating on different types of local licenses.
Licensed Exchanges is working from a country which provide regulations and a framework for them to work in. Coinbase is a licensed crypto exchange listed on Nasdaq
DEX is a decentralised exchange where you do not have any middle men and the exchange is operating without any ownership.
CEX is a Centralised exchange like coinbase, fully licensed, regulated
The best crypto exchange for you depends on your residency and local laws. Offshore crypto exchanges do operate in most countries, but be aware that your local country might have rules in place to prevent you from depositing or withdrawing funds to fiat.
The crypto exchange with the lowest fee depends in most exchanges on the volume you trade. Most exchanges have some kind of VIP program with benefits such as lower exchange fee’s, in some exchanges you will get a discount in the fee if you hold their token.
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