Since Bitcoin became mainstream, cryptocurrency has been in everyone’s mind. The digital gold rush has attracted many enthusiasts-from stock exchange experts to privacy freaks.Some people think of encryption as Choice of diversified investment portfolio And there are more profit opportunities.Others are excited about the future prospects Decentralized and anonymous currency Not controlled by any authority.

Whatever your reason, you must Familiar with all available cryptocurrency exchanges. They provide traders with different benefits and can fundamentally change the way you trade assets online. Therefore, don’t blindly sneak into the cryptocurrency market and arm yourself with some key information.

What is an encrypted transaction?

Essentially, crypto trading is a process Exchange one digital encryption currency into another digital encryption currency based on market valueAlthough expert traders usually only use cryptocurrencies for trading, others may wish to start with fiat currencies such as the euro and the US dollar.

The process of crypto trading depends on the exchange you choose. First of all, transactions may have costs, and if you trade frequently, this may be a problem. Certain platforms require certain verification processes, such as Know Your Customer (KYC) and Anti-Money Laundering (AML), which can have a negative impact on your confidentiality. Of course, there are anonymous transactions, but they may have a reputation as a safe haven for illegal transactions.

Types of cryptocurrency exchanges

There are several different styles of encrypted exchanges, which will Affect the transaction process and the way your digital assets are processed.

concentrated

As the name suggests, centralized crypto exchange (CEX) Operate on a single central platform covering every step of the transaction processMost importantly, they provide hot storage for your assets, which means your cryptocurrency is stored online instead of on your own device.

Although this leads to fast and convenient transactions, it also enables The platform is more susceptible to hackers and data breachesIn addition, it requires authentication, which is not ideal if you want to use cryptocurrency to remain anonymous.

Thankfully, you can use VPN for encrypted transactions Minimize these shortcomingsThe virtual private network reroutes your connection through a remote server, providing you with an extra layer of security and privacy by hiding your IP and encrypting your traffic.

Decentralized

At the same time, the decentralized exchange (DEX) lacks a central server to store everything.Instead, it uses A decentralized system with a wide range of servers worldwideIn addition, users can use cold storage to store their assets on personal devices. Of course, this also means that any problems are the responsibility of the user.

Another disadvantage is Transaction completion is quite slowThis means that you have no chance to take advantage of rapid market changes. However, decentralized exchanges are very suitable for maintaining your confidentiality because they lack KYC and AML verification.

Hybrids

Hybrid exchange (HEX) try Combines the best aspects of previous platform typesMainly, they provide the fast and smooth trading experience of CEX and the confidentiality of DEX without compromising security. They do this by using blockchain technology to create a market. In addition, these platforms provide cold cryptocurrency storage to increase security.

5 best crypto trading platforms

Now that you are familiar with the types of encrypted exchanges available, it’s time to check it out Some of the best crypto trading platforms Available in 2021. Some are very suitable for novices and provide simple and intuitive trading methods. At the same time, others are more suitable for experts-whether it is anonymous transactions or real-time monitoring of the encrypted market.

It is important to pay attention Not all cryptocurrency exchanges are available globally. This means you may have to Use VPN to change your location Visit these markets.

Using a VPN will not only hide your real location and IP address, but also your real location and IP address Encrypt your traffic and keep it safe from hackersIn this way, no matter which encrypted trading platform you decide to use, your online data is safe.

Toro

eToro – eToro is a great choice for beginners because it offers Learn the many functions of ropesFirst of all, the market has similarities with social networks, where people can discuss trading strategies with other traders.In addition, you can Imitating the best performers By copying their transactions on the platform. Finally, novices can try to use virtual accounts for risk-free transactions.

Coin Bank

Coinbase is one of them The most popular centralized crypto exchange in the U.S.. It is fully regulated Cannot be used globallyIn addition, the market supports fiat currencies, which is a good starting point if you don’t currently have any cryptocurrencies. It also has a paid version, which provides lower transaction fees and powerful functions to track your investment.

Binance

Binance is an excellent crypto trading platform Traders interested in alternatives to Bitcoin. It offers about 600 different trading pairs and various altcoins. Fortunately, fiat currency can also be used for transactions. Most importantly, the platform provides a lot of educational resources, which can teach newbies the basics of crypto trading.

Bisk

Bisq is The perfect choice for privacy lovers. It is a decentralized encrypted exchange platform that works with the help of P2P technology.Have No need to register or verify your identity, And your funds are kept in the cold storage, which is the equipment you own. However, the disadvantage is that the transaction speed is extremely poor, and the transaction volume must be kept at a low level.

Cash application

Cash App is a good choice Finance Master App. You can use it to transfer money, split bills, buy stocks, and most importantly, buy Bitcoin. It is mainly a simple and easy-to-use mobile application. However, for more serious traders who want access to a wider range of cryptocurrencies, this simplicity may be lacking. In this case, Binance is a better choice.

in conclusion

Choosing the right cryptocurrency trading platform will have a significant impact on your trading experience. Some are easy to use and do not require working knowledge of how cryptocurrencies work. Usually, they even support fiat currencies and allow you to trade without owning any cryptocurrency. However, such platforms may limit your transaction volume, and transaction costs may be relatively high.

At the same time, experts can choose a platform that can provide more market control and insight. But as the transaction volume increases, errors and losses are more likely to occur.

No matter what your goal is, Thoroughly research many different crypto trading platforms to see if they provide the features you needThe most important thing is to use a reliable VPN to ensure top-notch security and geographic unlocking.