Rating exchanges: review, reliability

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Cryptocurrency trading is a common thing for many Internet users who have been mining or investing in ICOs for years. However, for beginners, this question can lead to a dead end. After all, you need to be not only aware of the real real value of a particular cryptocurrency, but also choose the right trading platform. Only an exchange that has been proven over the years, carrying out thousands of financial transactions per day, is able to ensure the security of the transaction, as well as guarantee the full payment to the account of the user who has entrusted his funds to the trading platform. Based on the feedback and comments left on the forums dedicated to the topic of crypto trading, we have compiled our own rating of cryptocurrency exchanges that you can trust.

Bittrex

The Bittrex exchange (bittrex.com) tops our ranking. This trading platform is a contender for the title of the largest online platform that allows you to exchange cryptocurrency for fiat money. The exchange is based and registered in the United States of America. Pride of Bittrex -an ultra-modern server that allows you to process millions of transactions per minute quickly and without any "freezes".

For exchange users who are accustomed to making money on fluctuations in the rate of cryptocurrencies, here is a huge number of altcoin trading pairs. This site offers up-to-date rates, constantly monitoring the global cryptocurrency markets.

The main advantages of the Bittrex platform:

• is one of the most popular in the world, which indicates the absolute trust of users;
• in addition to the main cryptocurrencies, it offers a large number of altcoins for exchange;
• has an intuitive interface for both desktop and mobile browsers;
• Efficiency of technical support response to user requests.

Explicit disadvantages of the Bittrex platform:

• registration for new users is temporarily closed;
• restricted withdrawal of money - the maximum amount should not exceed 0.4 BTC per day;
• wallets turn off periodically, usually at the time of a sharp jump in the rate of major cryptocurrencies.

Despite its shortcomings, Bittrex tops the list of the best exchanges. By entrusting your funds to this trading platform, you can be sure of the safety of funds and the security of transactions. And this is one of the main conditions of any trader.

Poloniex

Poloniex (poloniex.com) is in second place in the ranking of the best cryptocurrency exchanges. It is very similar to Bittrex. It is just as convenient and offers a huge amount ofmajor altcoins. Registration here is open to new users. However, in order to withdraw money, you need to verify. The administration takes identity verification quite seriously. To create a verified account, you will need to go through several stages and provide quite a solid package of documents, which will take a lot of time.

The main advantages that allowed us to take second place in the ranking of cryptocurrency exchanges are:

• good technical support, instantly responding to user requests;
• having our own "cold" storage, which allows you to store user deposits offline as securely as possible;
• the most beautiful and intuitive interface designed for both desktop and mobile browsers;
• has large volumes of popular altcoins, including Ethereum.

Like any other platform included in the rating of exchanges, Poloniex has its drawbacks:

• it is not possible to replenish the wallet with fiat money;
• restricted withdrawal of funds - a maximum of 2000 dollars per day.

Users who have worked with Poloniex over the years remember that the exchange had serious security problems. A few years ago, hackers managed to successfully attack the trading platform, steal a large amount of altcoins and fiat. But at the moment, according to the administration of the exchange, there are no problems.

Coinbase

The third place in the rating of cryptocurrency exchanges for Russia is occupied by the Coinbase platform (coinbase.com), founded and registered in the United States of America. This online platform that allows you to exchange cryptocurrency for fiat is one of the oldest, and its investment valuation has long exceeded the $1 billion mark. Unlike most trading platforms that represent the rating of exchanges, Coinbase is more like an electronic wallet that allows you to exchange crypto for fiat.

The main advantages of this exchange can be considered:

• ease of use;
• attractive and intuitive interface;
• availability of mobile applications;
• the ability to deposit/withdraw fiat;
• no withdrawal limits;
• fast response of technical support to user requests;
• maximum protection for clients' online wallets;
• absolute user trust (Coinbase already has over 5 million loyal customers).

Despite the fact that Coinbase is one of the top three leading exchanges, the trading platform has its drawbacks:

Lack of anonymity. In order to become a verified user of Coinbase, the client is required to disclose quite a lot of personal information, which will be sent to the tax office. Without verification, withdrawal of funds is not possible

For residents of Russia and Ukraine, it is important to know that they will not have full access to all the instruments of the exchange. For example, you will not be able to deposit fiat from a debit card.

SEX

The fourth place in the ranking of crypto-exchanges is the CEX platform (cex.io). This platform was created as a service for cloud mining, however, since its foundation (in 2013), CEX has been repeatedly upgraded, becoming a multifunctional cryptocurrency exchange.

Despite the fact that this platform is in fourth place in our ranking of exchanges and its popularity is significantly lower than that of its predecessors, CEX has an undeniable advantage. The online platform allows not only to change cryptocurrency to fiat, but also to instantly withdraw real money to a plastic card. CEX offers cross-platform trading via REST API, Web, WebSocket and mobile app.

In the rating of cryptocurrency exchanges for Russia, cex.io will confidently enter the top three leaders. Why? CEX accepts for exchange all the world's leading currencies, including rubles. Thanks to this platform, you can quickly and safely exchange cryptocurrencies such as BTC, ETH, ZCash, Dash for fiat. Popular altcoins are also presented here.

Positive aspects of CEX:

• the ability to conduct financial transactions with debit and credit cards;
• intuitive interface that allows even an inexperienced user to deal with all the tools;
• no hidden fees;
• Russified technical support.

Negatives:

rarely rare update of trading pairs

GDAX

The next in the ranking of crypto exchanges is the gdax.com platform. GDAX is the brainchild of Coinbase. This online platformperfect for experienced traders, offering them excellent liquidity. All financial transactions are made in cryptocurrency or US dollars.

GDAX strengths:

• clear interface;
• availability of mobile applications for iOS and Android;
• the ability to deposit/withdraw fiat;
• no withdrawal restrictions;
• good tech support;
• maximum protection;
• optimized as a professional trading site.

Weaknesses:

• complete lack of anonymity of transactions;
• no support for CIS users;
• a rather complicated procedure for verifying a new account.

Bitstamp

In sixth place in the ranking of cryptocurrency exchanges for Russia is the bitstamp.net platform. This is a European online platform licensed to carry out financial transactions related to cryptocurrency. The exchange has been operating since the beginning of 2011 and has proven itself from the best side. If we created a rating of exchanges by reliability, then Bitstamp would surely be among the leaders.

The platform has large volumes of both fiat and cryptocurrencies, which allows you to instantly carry out large financial transactions. Deposits are accepted in dollars and euros. Until 2017, the exchange was engaged in the sale of Bitcoins, but at the moment, almost all popular altcoins are available for exchange.

Pros:

• reliability;
• intuitive interface.

Cons:

to work from the territory of the CIS, you must use a VPN orTOR browser

Bitfinex

The Bitfinex platform (bitfinex.com) is in seventh place in the ranking. The Bitcoin exchange (which is exactly what it is) has a daily trading volume in excess of the $1 billion mark. This online platform received an intuitive interface, as well as a wide range of tools. There are many types of orders, margin trading.

Positives:

• convenient platform for trading/exchange;
• large BTC volumes.

Negative points:

• many experts suspect this platform of manipulating the BTC rate, as well as artificially increasing the cost of Bitcoin;
• registration on the site is possible only by invitation of an active participant/trader;
• Very hard to verify account;
• lack of anonymity;
• quite a long time to wait for the input/output of real money.

Binance

Binance (binance.com) is a relatively young currency exchange with a steadily rising rating. Due to the fallen popularity, the administration suspended the registration of new users. The forced measures are explained by the fact that for the stable operation of the service, the site infrastructure needs to be changed. Most likely, the exchange, whose server is capable of processing up to 1.5 million orders per second, was not ready for the rapid growth of new users.

First trading on Binance took place on 2017-15-07. From that moment on, interest in the exchange began to show both newcomers,and experienced traders. Most users were attracted by the customer focus, user-friendly and intuitive interface, as well as the ability to remain anonymous. However, the site became really popular only when it offered its users the option of PoS mining. For holding the NEO cryptocurrency, which was popular at the end of 2017, a reward of 0.1% of the total deposit amount is charged.

Strengths of Binance:

• quite a wide range of trading pairs;
• minimum commission;
• large set of tools;
• the ability to carry out financial transactions without verification and registration;
• maximum withdrawal amount (for an unregistered user) - 2 BTC per day;
• PoS mining.

Weaknesses:

The main page of the site freezes quite often

HitBTC

One of the age platforms is HitBTC (hitbtc.com), founded in 2013. It is constantly in the top 10 ranking of bitcoin exchanges according to statistics from various sites. And its venture capital is more than 6 million euros. The HitBTC trading platform has become widely known for its unique matching mechanism as well as its wide range of blockchain support. The vast majority of users note the friendly attitude towards the client on the part of the support service, which not only immediately responds to requests, but also effectively resolves the issues that have arisen.

Always being in the forefront of the world exchange rating is not an easy task, but the administrationHitBTC is doing its best to stay one step ahead of its closest competitors. The site runs on a unique and rather powerful "engine", which provides uninterrupted access to the trading platform. Among the colossal set of tools presented on the exchange, there are also innovations, such as real-time cleaning. In addition to the main version, the site has an easier demo version.

Strengths:

• the exchange has no restrictions on deposit/withdrawal of funds;
• minimum commission;
• reliable protection;
• intuitive interface;
• prompt and professional technical support for users;
• high and smooth operation of the site.

Weaknesses:

a small variety of altcoins offered for exchange

Gemini

Gemini (gemini.com) is a true pioneer among cryptocurrency trading platforms. The founders of this resource are the world's first bitcoin billionaires - the Winklevoss brothers. It is on this site that the futures price for Bitcoins is set, which is equal to the cryptocurrency and stock exchanges of the world. The rating of this trading platform is always high, since the internal reserves of both BTC and fiat are prohibitive here. No matter how much you want to exchange, there will always be the necessary amount.

Gemini Pros:

• continuous monitoring of compliance with the standards of banking obligations;
• highest capital reserve requirement;
• regulated by the state(subject to the jurisdiction of the State of New York).

Cons:

Exchange services are only available in the United States of America

BitFlip

BitFlip (bitflip.cc) is a Moscow-based exchange whose rating is constantly growing. It was founded in 2017 by Russian programmers Dmitry Kuzmenkov and Vladimir Kosenko. The platform statistics show incredible performance. In the first months of work, the daily turnover of funds did not exceed 10 thousand dollars. At the moment, this figure is measured in seven figures.

It is worth noting that the creators of the trading platform did not stop there and decided to conduct their own ICO, giving the future crypt the name FLIP. Oddly enough, but they did it. Investors believed in the project and began to invest fairly decent amounts in it, and six months later they received their first dividends.

Positive aspects of the trading platform, thanks to which it leads the rating of Russian stock exchanges:

• Multicurrency. The platform makes it possible to exchange cryptocurrency and altcoins not only for dollars, but also for rubles, euros, hryvnias.
• Many ways to deposit/withdraw fiat money.
• The trading platform supports various payment systems, including many Russian ones. Money can be withdrawn to Qiwi, Capitalist, Webmoney, Interkassa, Yandex Money.
• The system credits free coins in case of BTC hard fork.
• More than 60 types of cryptocurrencies are offered for exchange.
• Minimum commission,which directly depends on the amount of exchange (from 0.1% to 0.18%).
• Efficiency and efficiency of technical support. The vast majority of users note that their problem was solved as soon as possible.
• Transaction security.

Negative points:

Partial loss of anonymity. In order to make financial transactions on this trading platform, the user must go through the registration and identification process

EXMO

EXMO is one of the most convenient platforms for Russian-speaking users, which has not only an intuitive interface, but also Russified technical support. EXMO is a multi-currency platform that cooperates with many popular payment systems, such as Qiwi, OKPAY, Skrill, Yandex. Money, Payeer, Perfect Money, Payza, Webmoney, MasterCard, Visa. Money can be withdrawn in dollars, hryvnias, euros and rubles.

Dignity:

• intuitive interface;
• Russified technical support;
• multicurrency;
• small fee (0.2%);
• quite a wide range of buy/sell altcoins.

Flaws:

Verification may be required for withdrawals to some payment systems

BitMEX

BitMEX broke into the rating of stock exchanges of the world relatively recently. This is a Hong Kong platform licensed for financial transactions related to cryptocurrencies. It is ideal for experienced traders who know how to make moneyon exchange rate fluctuations. Here are the most popular altcoins:

• Ripple.
• Dash.
• Ethereum.
• Monero.
• Bitcoin.
• Augur.
• Factom.
• Zcash.
• Litecoin.

Strengths can be considered:

• intuitive interface;
• Russified user support;
• a huge number of tools that allow you to earn on the cryptocurrency rate;
• fast deposit/withdrawal of funds.

Weaknesses:

lack of anonymity, as it is necessary to go through the verification procedure and provide identity documents

Bitesbook

Bitesbook is another exchange created by developers from the CIS. At the moment, only two cryptocurrencies can be bought here:

• Litecoin.
• Bitcoin.

However, the administration says that more trading pairs will appear soon. Here, at a favorable rate, you can exchange cryptocurrency for fiat. Payments to your account can be ordered both in US dollars and in Russian rubles. Registered users have the opportunity to withdraw money to such popular payment systems as:

• Qiwi.
• "Yandex Money".
• WebMoney.
• MasterCard.
• Visa.

Good points:

• intuitive interface;
• completely Russified platform;
• efficiency of technical support;
• high security;
• legality;
• minimum commission percentage (0.1%);
• site stability.

Negative points:

at the moment, the withdrawal of funds takes about 24 hours, but the administration assures that in the near future the situation will be radically corrected, reducing the waiting time to one hour

LocalBitcoins

LocalBitcoins is a trading platform fully adapted for Russian-speaking users. This resource is a full-fledged stock exchange, the rating of which is growing rapidly. Unlike other platforms on our list, there is no withdrawal or deposit of funds. The platform allows direct exchange with the counterparty, acting as an intermediary-guarantor of the transaction.

Pros:

• Russified interface and technical support;
• many exchange offers;
• always up-to-date exchange rate;
• multicurrency.

Cons:

• All operations are done manually, which often takes a long time.
• Relatively high commission (the person who created the exchange request is charged a commission, the amount of which is 1% of the total transaction amount).

LiveCoin

LiveCoin is an excellent trading platform for Russian-speaking users. More than 260 different currency pairs are presented here, as well as many useful tools that will help even an inexperienced broker to successfully trade. The rating of the exchange is growing rapidly due to the ability to remain anonymous. If aIf you operate exclusively with payment systems and cryptocurrency, then you do not need to go through the registration and verification process. This moment is very popular with users who wish to remain anonymous. There are not so many options for depositing / withdrawing fiat, but they are quite enough for comfortable work with the exchange. LiveCoin cooperates with such electronic payment systems as:

• OKPAY.
• PerfectMoney.
• Payeer.
• Capitalist.

It is worth noting that residents of Russia and Ukraine have the opportunity to deposit money in cash. In order to replenish the balance on the exchange in this way, you must contact the services of a courier.

Good points:

• intuitive and pleasant interface;
• presence of Russian-speaking employees in the technical support service;
• possibility to replenish the balance in cash;
• a huge number of currency pairs;
• small fee (0.18%);
• high security;
• opportunity to remain anonymous.

Cons:

to deposit / withdraw funds to the card, you must go through the account verification procedure

Moscow Exchange MICEX-RTS

The MICEX-RTS Moscow Exchange is an exchange holding that in 2017 began preparing to create a platform for trading cryptocurrencies and stocks. The rating of exchanges may seriously change in the near future, because such a giant as MICEX-RTS, which will soon start trading crypto, has a huge capitalization, and the annual trading volumemeasured in trillions.

KuCoin

KuCoin is a young marketplace based in Hong Kong. There are quite a few trading pairs here:

• ETH.
• VTS.
• TTM.
• OMG.
• EOS.
• QTUM.
• CVC.
• KNC.
• NEO.
• LTC.
• VNS.

Judging by the comments of users, the range of trading pairs is regularly updated and increased. The site itself works stably and is under reliable protection. This is not strange, because professional, well-known and successful IT specialists are involved in its development. The KuCoin exchange offers NEO holders special e-wallets with full PoS mining setup. This is a great opportunity to get additional passive income.

KuCoin has its own cryptocurrency of the same name. Experts note that investing in KuCoin is a great investment. The exchange rate for this coin is growing by leaps and bounds.

Strengths:

• anonymity;
• financial transactions are securely protected and are performed in a semi-automatic mode, which has a positive effect on the time of transactions;
• PoS mining available;
• many currency pairs, the list of which is constantly expanding;
• commission can be paid with internal cryptocurrency, which reduces the user's costs by half;
• stable operation of the site;
• always up-to-date courses.

Weaknesses:

• interface only partially translated into Russian;
• no Russian speakerssupport staff.

Summing up

This is how the rating of cryptocurrency exchanges for Russia looks like. In fact, there are many more trading platforms, you can work with other platforms. However, before entrusting your money to third parties, make sure that these are not just another scammers, read user comments, pay attention to the age of the exchange.