The world has gone crazy about cryptocurrency. People lucky enough to invest in crypto at earlier stages are billionaires now. Their success story has inspired thousands of people to research the blockchain industry and start investing in cryptocurrencies.
However, some scammers use this hype around crypto to deceive and steal people’s money. Primarily they target novice investors who are making their first steps in the blockchain industry. Sometimes, in pursuit of more beneficial exchange opportunities, experienced traders also fall into scammer’s trap.
For avoiding such unpleasant experiences, it’s recommended to swap cryptocurrencies on trusted online exchange platforms. Here are the top five most reliable crypto exchanges trusted by thousands of users.
Coinbase should be your number one choice if you’re looking for a secure crypto exchange. The platform inspires trust in its users due to two security features:
- On Coinbase all the funds are insured against data breaches.
- Users’ cash is stored in banks approved and insured by FDIC.
Besides these advantages, Coinbase also boasts a big variety of cryptocurrencies. Here you can conduct a BTC to CNB, ETH to XRP exchange, and trade hundreds of coin pairs.
Though Gemini provides crypto conversion services to both institutions and individuals, it’s mostly preferred by institutions. It offers two types of storage – online or offline. For offline storage, the platform offers insurance coverage of $200 million.
Here are some other features of the exchange:
- All accounts in USD are insured.
- The account minimum is $0.
- The app works perfectly with iOS and Android phones.
Any user of this platform knows that conducting a cryptocurrency exchange online at LetsExchange is fast and secure. It’s your best option if you want to trade coins within seconds.
The platform has an impressive selection of coins (200 crypto coins) and features. For trading any of its 40 thousand crypto pairs, you should create an account on the platform. However, no identity verification is required which allows trade crypto a couple of minutes right after registration.
Account security is of utmost importance for Bittrex. Here is what security features the exchange has:
- Two-factor authentication
- Multi-stage wallet protection
- Offline storage
- Compliance with the US regulations
Due to all these top-notch security procedures, the platform never had a data or security breach. It’s a cold hard fact that inspires confidence in both novice and experienced traders.
Another feature that attracts users is the platform’s low transaction fees. Moreover, Bittrex has no charges for deposits and withdrawals in US dollars.
Binance has been providing crypto exchange services for five years now. Over such a short period, Binance became a leading exchange platform by the number of its daily users and crypto trading volume.
Currently, the exchange supports over 500 cryptocurrencies and 18 fiat currencies. The platform always adds new currencies and crypto trading pairs, so the list gets updated often.
Despite its global success, Binance comes fifth in this list because of its regulatory issues in the US and China. Currently, the exchange is banned in the USA, but it doesn’t stop investors from trusting their funds to this platform.