World Biggest Cryptocurrency Exchanges

in #bitcoin7 years ago

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When the first cryptocurrency emerged on the world scene, it requested for a global trading platform. To perform this function cryptocurrency exchanges were quickly built. Today a few dozen exchanges are operating with cryptocurrencies. Some of them are local, while others are trading globally. Each exchange offers some specific advantages to its members. Let’s have a closer look at a few leading cryptocurrency exchanges operating globally.

Exmo
Spain-based exchange with international team, Exmo is probably one of the most convenient trading platforms. It supports any and all types of transactions with cryptocurrency. About 250,000 clients from more than 100 countries are active users of this platform, which makes Exmo the most universal and multipurpose platform in the market.

Multilingual user interface and high standards of service allow the exchange traders to sell and buy conveniently and to store their cryptocurrency and fiat money.

BTC-E
One of the most popular bitcoin exchanges in the world, BTC-e has been in business ever since 2011. The exchange handles a high percentage of total bitcoin transactions, and is No3 in BTC/USD transactions globally. BTC-e Web host is located in Bulgaria, the company is registered in Cyprus.

BTC-e is considered to be simple and easy to use. No personal data is needed to create an account, only an email address. The fee on all trades is fixed and one of the lowest in the industry.

Initially the site had English and Russian user interface but then the Chinese language was added, after a burst of activity from Chinese users. The BTC-e even has its chat room called “troll box”, available in three languages.

In 2012 BTC-e was hacked. Hackers found a way to inject large amounts of non-existing USD into the system and then quickly exchanged them into bitcoins. When the fraud was discovered, all illegitimate transactions were cancelled and affected traders received their money back. According to official estimates the company lost about $400,000.

However, BTC-e survived the attack, it has been operating and developing to the present day.

Bitfinex
Security is one of the main criteria for people selecting a trading platform. Bitfinex developers know it well, that’s why they try to make their exchange the most secure, reliable and trusted cryptocurrency exchange in the market.

Among the latest novelties are personal wallets with multi signature – this project was developed in collaboration with Bitgo. This technology allows its users to check their balance any time, using blockchain. Many exchanges are still using a pool with a standard set of keys and such wallets regularly become a target of cyber attacks. The multi signature feature immediately propelled Bitfinex to the ranking top of secure trading platforms in the global cryptocurrency market.

Bitstamp
Bitstamp, one of the most reputable cryptocurrency exchanges in the world, has been operating since 2011. In terms of trading volume it is one of the industry leaders. In 2014 Bitstamp became the world second in the number of BTC/USD transactions. The company is Europe-based and was founded as a European trading platform. The system allows EU citizens to withdraw fiat money from European banks and to exchange them into cryptocurrency.

When Bitstamp came to the financial market of the United Kingdom, it applied for a license to become a regulated financial institution, but local financial authorities refused to grant it. However, today Bitstamp is the only EU bitcoin exchange with an official license granted by the Luxembourg government and passportable into 28 EU countries.

To prevent the use of cryptocurrency for mass frauds and money laundering scams, Bitstamp now requests its clients to present the copies of identification documents.

BTCChina
Founded in 2011 in Shanghai, this trading platform has been rapidly developing ever since, being the first exchange of such type in China. Today BTCChina is No 2 in the volume of financial transactions globally.

In 2013 the National Bank of China filed lawsuit against BTCChina and for some time the system stopped accepting Yuan as such transactions were considered illegal. But after re-examination of the case the exchange was allowed to proceed with their business.

Bter
Bter is one more China-based cryptocurrency exchange with a wide variety of fiat to crypto and crypto to crypto exchange. Currently it has been operating with 150 currency pairs.

Had a severe security breach early in 2015 but survived it and gradually recovered.

Some withdrawals are free here, like withdrawing USD, and transaction fees are about 0.2% on almost all markets. An interesting feature of Bter is their investment program – they are ready to pay you interest about 10-11%, and your deposit is fully withdrawable at any time. % discount, a person who brought the client will get a 30% discount for all trading transaction fees.

Poloniex
To bring in new clients, administration introduced a referral system. A client who started trading using a reference link will get a 10

Poloniex trading platform allows its users to make transactions with 146 pairs cryptocurrencies. The platform interface is English and it is very simple and easy to use. Fully zoomable charts covering all the market history, stop-limit orders to reduce trading risk and candlesticks from 5 minutes to 4 hours long.

To provide security Poloniex uses 2-factor authentication, entire exchange is continuously monitored for unusual activities and clients’ main funds are kept in the cold storage.

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