Almost every investor is puzzled by the main question — on which exchange is it better to trade crypto currency? About its relevance and relevance is no longer a question, as almost everyone at least once heard about this new direction of the financial structure.
What are the Crypto-Currency Exchange and which one is better for trading?
The exchange of crypto-currencies is a platform for trading and exchanging one digital money for others or for different world currencies (USD, EUR, RUR, CNY). In addition to mining, which is the original way of creating crypto-currencies, exchanges are the way to get them. In addition, only with the help of exchanges can they be exchanged for real money.
Types of Exchanges
The division of the entire list of exchanges can be made conditionally according to one of the most important criteria:
- Exchange, where bitcoins and part of the basic forks can be exchanged for national, world currencies (fiat money).
- Exchanges on which trade exclusively between bitcoin and forks and the exchange of some crypto-currencies for others.
Forts are called digital money, derived from the main bitokoyn. Many forks can be exchanged only on certain exchanges.
Popular Currencies Exchange
Below is a list of exchanges of crypto-currencies, which received the greatest popularity.
- Exchange Bitfinex. One of the largest exchanges in terms of trade. There is a list of only three pairs: BTC / USD, BTC / LTC, LTC / USD. As in the stock market, it is possible to carry out margin trading, without margin and brokerage, which provides for other players the opportunity to trade on the exchange with margin.
- Exchange Bitstamp. The main and only pair for this exchange of crypto-currencies is BTC / USD. A distinctive feature is the commission charged for each transaction. Initially, it is 0.5% and decreases with the growth of trade volume.
- Exchange BTC-e. One of the most popular stock exchanges is the crypto currency, which is due in part to the lack of mandatory verification during registration. It’s enough to specify e-mail to start trading. The lists of pairs of bitcoins for fiat money, such as the euro, the US dollar, the Russian ruble are presented.
- Exchange BTCChina. The stock exchange, opened in 2011, by 2013 became the largest in terms of trade volume. However, after the release of a number of laws regulating the exchange and trading of virtual money, it lost its primacy.
- Exchange Bter. The large Chinese exchange is a crypto-currency, which sells a lot of pairs with a list of different forks, together with three major CNY, BTC and LTC. In total, the list includes more than 35 different pairs. Attracts many players a wide range of forks used and a relatively low commission of 0.2% for trading.
- Exchange Coined Up. One of the many exchanges on which trade is conducted exclusively with bitcoin and forks.
- Exchange Cryptsy. The exchange, which also trades exclusively with crypto-currencies. It is allocated the largest list of traded pairs with forks. Interest in the stock exchange is caused by information that it will be possible to trade in pairs with USD participation.
- The Kraken Exchange. Internet site designed for trading in digital currencies and allied pairs with USD, EUR, KRW.
- Stock Exchange Mt.Gox. The exchange on which the trade in crypto-currencies was actually started. Until 2013, it was the largest, attracted huge amounts of both crypto currency and real money. Has lost its primacy in the list of top exchanges and has somewhat surrendered positions by volume as a result of security problems.
- Exchange OKCoin. One of the largest Chinese exchanges. Provides opportunities to trade BTC and LTC in relation to CNY. Possessing its own software platform, it keeps it only in Chinese, as well as conducting all operations, except for this, when registering, it is required to provide documents confirming the identity of the trader.
Principles of trade
Exchange transactions and speculations on stock exchanges crypto currency are identical to any other. To make a profit you have to buy cheaper, sell more expensive. That is, just like when investing in ordinary currency.
Naturally, the basis of instruments and the principle of determining the goals for trade are put in the same way as in the securities markets or forex. To make a profit by trading in virtual money will not be a problem for those who know the basics of trading in the stock market, securities and national currencies.
The main components used by a participant in trading on the exchange are the following:
- Orders sell, buy for sale and purchase;
- History of concluded deals;
- Trading volumes held on the exchange (s).
What is the best exchange for the exchange
There are many exchanges of crypto-currencies, but experience and practice shows that one of the most promising ones is upbit.
We have been trading on this exchange for about a year now and can share with you some of our observations. When we got acquainted with the functional of the stock exchange upbit, we were imbued with respect for its creators, but they made limited money and the total account did not exceed 5,000 rubles (Russian). It was interesting for us to observe how the currencies of the currencies are moving and the main task was to try to find patterns that would make it possible to earn on it.
We managed to find some inefficiency, but not in the crypto-currency pairs, but in the pair usd / rur. The fact is that the miners at the sale of the earned coins had to transfer them to phiath (traditional currency), then to withdraw this money to their accounts in banks or to any electronic purses. The volumes on this exchange are not large, so the pair usd / rur moved not as the same pair did on Forex, but on its own whimsical trajectory.
Upbit in the modern world
Unfortunately, in the form in which we remember it, the stock exchange did not last long and survived the crisis, when its participants began to panic to withdraw money, which entailed delays in the withdrawal of funds.
Personally, we deduced 3000 rubles for about a month, but still got it.
The rest of the funds we withdrew after the reorganization of the exchange and the launch of futures for crypto-currencies for 1 day — at the moment the withdrawal is carried out without delay.
There was a professional functional exchange terminal — CopperlarkTrader. The exchange has changed, but its volumes have fallen significantly.
It’s time to buy coins!
For the prudent, shrewd investor, the most favorable moment has come — you can invest money in the crypto currency.
More recently, bitcoin cost more than $ 1,000, and now it is sold at $ 400 and there is no special demand. This situation can not continue for a long time and it is very likely that the new growth of quotations not only of bitcoins, but also of other crypts that are gaining popularity, is quite close. For example, we advise paying attention to coppirlark, which is the own development of the owners of the exchange upbit. You can regard this crypto currency as the stock of this exchange and, judging by the steps taken by its owners, this is an effective and promising site, which has a great future.
The article is in the translation stage, and is still being updated. I’m sorry for the mistakes. Good reading.