So the most popular cryptocurrency exchanges are
- Binance
- Coinbase
- WhiteBIT crypto platform
Each belongs to a centralized type of exchange, which means they operate the same way as traditional financial organizations. They have central management that trucks suspicious activity of users and does not allow illegal transactions, blocking such members.
Before starting a full-fledged work, every user has to pass KYC, sending documents to a central office for checking. Usually, it takes a few days, but services do their best to provide new clients access to their tools as soon as possible. For example, the WhiteBIT crypto exchange conducts the KYC procedure within 24 hours.
Let's take a look at the three most popular cryptocurrency exchanges.
Binance
This is the most used crypto platform worldwide. Probably every crypto investor has an account on Binance. The exchange has the biggest daily trading volume of $24,27 billion. The exchange provides over 500 digital assets and virtual tokens, including the most popular ones. The exchange also focused on altcoin trading. Binance fees are the market average, 0,1% for spot trading. The platform offers a mobile app and an educational section.
Coinbase
The exchange has a beginner-friendly interface and low fees. There are dozens of digital assets available, including all the most popular cryptocurrencies. Client's can use debit cards to buy crypto. The exchange provides a convenient mobile application. There are also educational resources, charts, and news. The trade volume reaches $4,2 billion.
WhiteBIT
This is a young exchange, but it has become one of the most popular cryptocurrency exchanges. Over 150 countries, 400 crypto pairs, average fees of 0,1%, a wide selection of tools, and the opportunity to buy crypto with bank cards. The daily trade volume is $1,2 billion.