With so many different cryptocurrency exchanges to trade on, you must certainly be wondering which is the best for you. After looking at dozens of platforms, this review will discuss CryptoExchange.com and examine it based on offerings, customer support, and more.
Is Crypto Exchange Good for Beginners?
If you’re new to trading cryptocurrency, Crypto Exchange is a great place to start. For one, the platform only charges 0.1% on every market trade – lower fees than many of its competitors. That said, it’s worth noting the platform doesn’t list nearly as many assets as other exchanges. This could be seen as a good or a bad thing.
For one, newer investors might appreciate not being overwhelmed with hundreds of assets. However, as you become more experienced, this lack of diversification might be a bother.
Otherwise, Crypto Exchange features an in-depth Learning Center for breaking down all sorts of crypto-related concepts. Coverage includes basic topics like defining crypto, Bitcoin, and blockchain before ranging into more complex ones. That and the platform offers 24/7 customer support to assist you with any and all issues you may have.
How Does Trading on Crypto Exchange Work?
Trading on Crypto Exchange is fairly easy, considering the platform allows you to invest with a debit or credit card. If you’re in the United States, you can also invest via a bank transfer. Withdrawals using this same method are handled in seconds.
All peer-to-peer trades on this exchange happen via its escrow service. Basically, a buyer sees a seller’s price they’re happy with. The buyer will submit their payment, which will then be locked in the platform’s escrow. From there, the seller will deliver their assets, the buyer will confirm their arrival, and Crypto Exchange will release the funds.
It doesn’t matter the size of the transaction – this method can handle any peer-to-peer trade you need to make. From here, you can also invest in the market via debit or credit card or even a bank deposit. The platform also supports third-party payments from Simplex and Banxa.
What’s the Difference Between Crypto Exchange and Other Platforms?
For one, you can be sure your funds are safe on Crypto Exchange. Considering the platform is a newer one, it is up to date with the latest security features. This means there’s little risk of hacks or other bad things happening to your crypto.
Of course, no online platform is completely free from hacks. That’s impossible. But there are ways to circumvent bad actors, and Crypto Exchange does this just as good, if not better, than competitors.
As mentioned, Crypto Exchange has a more limited set of cryptocurrencies than, say, Binance. However, most of the assets on Binance aren’t worth trading. Some of them might be scam coins, while others are just copies of previous coins.
Most traders don’t get involved with these other types of cryptos. They exist only to scam new traders and have no reason to be on legitimate cryptocurrency exchanges.
Also, most other platforms, especially Coinbase, have incredibly high trading fees. Crypto Exchange’s fees are much lower than this. It’s a great feeling to trade and not have to worry about paying so much of your funds to the exchange.
Crypto Exchange has just as streamlined a user interface as any. For each cryptocurrency, the platform shows you its current price, any recent price changes, and its 24-hour volume. This is enough information to make an educated trade. On top of this, it provides you with the price history of each coin, as well as any asking rates on the platform.
While no cryptocurrency exchange is perfect, Crypto Exchange is a decent way to get started in the trading space. More experienced traders might want to wait until more features are unveiled, but even then, they’ll still find something to enjoy here.
Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.