The idea of cryptocurrencies is no longer specialized. A growing number of individuals, from big businesses to individual investors, are realizing the potential of digital assets. Growing at a CAGR of 7.1%, the USD 1.6 billion cryptocurrency industry is expected to reach USD 2.2 billion by 2026.
You are not alone if you have been reluctant to start, but the longer you put it off, the more opportunities you may miss. Luckily, a variety of user-friendly apps have made trading in cryptocurrencies easier lately. We will evaluate a few of the best crypto exchanges available, dissecting the most important factors that a beginner investor needs to know.
What Is A Crypto Exchange And How Does It Work?
A crypto exchange is an online marketplace that serves as a middleman between cryptocurrency buyers and sellers. These platforms allow users to trade cryptocurrencies for fiat and digital currencies and deposit funds in various ways, including P2P, online banking, and direct bank transfers. However, a commission or fee is assessed each time a transaction is made through these services.
After creating an account with a cryptocurrency exchange, you may purchase and trade virtual currencies like Dogecoin (DOGE), Ethereum (ETH), Bitcoin (BTC), Ripple (XRP), Solana (SOL), and so on. The customer has two options for buying cryptocurrency: exchanging one type of cryptocurrency for another or using fiat money like the US dollar or Indian rupee.
The investor must fund their cryptocurrency exchange account or a wallet that the exchange has given them in order to start trading. For increased protection, we advise creating your cryptocurrency wallet if you do large orders. Users have access to trade rates for a variety of cryptocurrencies, which are set by supply and demand factors in the market. Users may now place buy orders with ease and have them generated into the order book alongside sell and buy orders.
Top Crypto Exchange 2024
1. CoinDCX
One of the clearest and safest crypto exchange platforms available is CoinDCX. During the user onboarding process, several security checks are performed using automated software programs like biometrics. This exchange has also offered self-custody wallets, which allow customers to move cryptocurrency to their own custody with a single click.
CoinDCX offers many services and products, including margin trading, cryptocurrency futures, and lending options, staking and systematic investment programs, and more. Its mobile app is accessible on iOS and Android platforms. Through its blogs and vlogs, it provides its investors with a wealth of cutting-edge educational resources on cryptocurrency trading tactics. CoinDCX offers extensive instructions on generating passive income from cryptocurrencies that are sitting idle.
2. Mudrex
In 2018, Mudrex was established to provide long-term, less hazardous investments. With an easy-to-use interface, comprehensive cryptocurrency data, and robust customer support, it simplifies trading and investing in cryptocurrencies.
This site offers more than 350 cryptocurrencies for purchase, and the procedure is quick and easy. It offers great security features, such as holding customer cash in cold wallets with two-factor verification, and charges no fees for cryptocurrency deposits.
One of Mudrex’s distinctive features is that it provides its customers with “Coin Sets,” expertly designed cryptocurrency baskets based on themes. This reduces risk factors and offers diversity. Mudrex also provides user-friendly interfaces, low rates, and transparency. It handles $25 million in funds, has over two million invested users, and has a 96% customer satisfaction rating.
3. ZebPay
Investors recognize ZebPay for its quick trading, ability to buy carefully managed cryptocurrency portfolios, and ability to earn interest on idle bitcoin assets via the lending tool. It offers fixed return choices for crypto exchange to its subscribers, with values ranging from 0.2% to 8.5%. With around six million customers, the exchange currently supports more than 100 cryptocurrency currencies.
Zebpay is also the greatest option for intraday cryptocurrency trading since it offers faster payments with cheaper maker costs. Additionally, this exchange gives its members a variety of alluring cashback bonuses on their first trade and recognizes the best traders each month.
4. Giottus
Giottus is one of the crypto exchanges in the nation with the quickest rate of growth. It gives customers access to a variety of cryptocurrency assets for trading and earning. If one wants to invest in cryptocurrencies for a longer period, it provides services like fixed deposits, SIPs, and the development of a crypto basket of themed coins.
Giottus is prepared to introduce a loan service and non-fungible token (NFT). Additionally, the user may take advantage of the recommend and earn programs, which provide benefits and the potential to earn up to 10,000 tokens. Because of its staking function, users have excellent opportunities to increase their passive income from digital coins—which might reach over 10%.
Conclusion
These bitcoin exchanges are decentralized, which means that no organization oversees them. They use smart contracts and decent, entirely automated deals. However, this place does not demand KYC or personal information. Due to their automation through smart contracts, which are carefully crafted with the necessary security checks in mind, DEXs are regarded by investors as safer.
Nevertheless, DEXs’ interface is less user-friendly than CEXs’, which typically affects transaction volume and speed. Experienced traders may find DEXs more helpful than CEXs, while newcomers may find CEXs more helpful.
