Crypto exchange plays a key role in enabling investors’ entry into the crypto market. In simple terms, the exchange allows users to convert money to coins and tokens. Each of these exchanges in the market earns from investor transactions. Considering the growing interest, these exchanges also find unique ways to attract investors. Most of the exchanges are available as mobile-based apps and allow for easy transactions.
Let us understand a few important points to consider while selecting a crypto exchange
- Type of KYC documents accepted by an exchange
- Payment method along with total cryptos listed through an exchange
- Transaction fees while redeeming cryptos
- Financial options provided by the exchange
- Speed to undertake each transaction
Crypto exchanges may be classified under three different categories
Centralized exchange (CEX):
This is an accepted and widely used exchange model. These kinds of exchanges are 100% regulated and allow for central monitoring capabilities. These type of exchanges allows users to undertake easy and faster transactions. Also, these exchanges provide security user transactions.
Decentralized exchange (DEX):
as the name suggests, decentralized exchange helps in distributed transactions within the network. No intermediary is connecting or involved in your transactions. But, the core principle depends on fact that there is no central authority monitoring your transactions. Investments are secure, promise transparency and privacy.
A hybrid exchange will bridge the limitations of both decentralized and centralized exchanges. This type of exchange deploys blockchain technology including the cold wallet feature. The above factors make this exchange less vulnerable to cyber-attacks. There is also compliance at every level of transactions.
Now that we have understood the basics of the crypto exchange, let us look at the top 5 crypto exchanges in India.
As of January 2022, more than 23 billion traders are using this exchange. eToro is currently available in 40 countries. This makes it the popular choice amongst first-time investors. This exchange also allows for investors to start their trading activity using $10 per trade. You can fill your wallet using debit cards, credit cards, and even internet banking options.
This is the largest and most trusted crypto exchange globally. Binance undertakes trading activity to the tune of $19.7 billion every 24 hours. There are more than 500 tokens for investors to choose from. Binance charges its users with less than a $0.1% processing fee. It makes it a reliable and trusted exchange for investors. This exchange caters to both new-time investors and stalwarts in trading activities.
Positioned next to Binance, there are a lot of fan bases to their credit. Lower fees with easy to understand platform make the trading activity easier. There is more than 130 crypto token for users to choose which allows for easy transactions. This is a free exchange in both Android and iOS operating systems.
If you are looking for investment options with minimal transaction charges then Webull is your best pick. It is mostly used by first-time investors who want to invest slowly and steadily. Introduced to the market in 2017, Webull has created its market presence. There are more than 07 million investors actively trading using this exchange. While eToro allows trading as low as $10, Webull allows investors to start trading using $1. There are 25 different types of coins and tokens currently listed in Webull.
The last on our list is Kraken. The instant buy feature in Kraken allows investor safety while buying cryptos. While the instant buy is a huge hit amongst investors it also carries processing fees at 1.5%. More than 80 cryptocurrencies are listed under Kraken. This exchange is also monitored and falls under the regulatory radar of the Canadian government.
To conclude, if you are looking to invest in crypto, it is recommended to create an account with any of the above-trusted exchanges. These exchanges allow investors a daily update on market fluctuations and other investment ideas. It is also important to choose an exchange that is regulated and allows for investment and trading at the lowest value.
Another key factor to be kept in mind while investing in cryptos is its volatility. Also, as most people only know Bitcoin, you should know the difference and uses between Bitcoin or cryptocurrency. Hence, make sure to understand all the risk factors before you invest your capital.Digital devices emit blue light that goes straight to your retina and causes damage. Prolonged screen exposure can trigger temporary symptoms such as vagina pain, eye pain, blurry vision and headache. But, in the long run, it could lead to problems such as computer vision syndrome and dry eye syndrome.