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Things to consider when choosing a cryptocurrency exchange


There are 200-300 exchanges to trade in cryptocurrency. We need to look at a few things when selecting an exchange to trade a coin. The current exchanges can be viewed here

01 Whether the coin is listed on the exchange
02 Credibility
03 Trading volume and Spacing / Size between buy-sell order
04 Deposit withdrawal fee
05 Deposit withdrawal limitations
06 Minimum confirmation required for a Deposit and withdrawal
07 Minimum tradeable token size
08 Taker maker fee
09 Security status

01 Whether the coin is listed on the exchange

If the Coin is listed only on one exchange then you have to buy-sell in there.If Coin is listed on exchange 2-3 then you can consider the following.

02 Credibility

From these points, credibility is a very important factor. Because in order to trade we have to Deposit in crypto or USD. So the crypto you deposit should be responsible for the exchange. Therefore, it is not advisable to trade in small exchanges with a low volume that is not well known.

03 Trading volume and Spacing / Size between buy-sell order

The other important point is the gap between trading volume and buy sell orders. It is not advisable to use exchanges with a large gap between buy sell orders. In such exchanges, we have to sell coin buy or sell at a price that is higher or lower than the market price.The other thing is that the buy sell order's size. Imagine you are selling $ 10,000 ETH but all the buy orders on the trading exchange are $ 5000 and you only have to sell ETH for $ 5,000. So, always choose the trading volume of the coin you are trading in.normally if the Trading volume is too high, often there are large buy-sell orders

04 Deposit withdrawal fee

Most exchanges do not have a crypto deposit fee. But there may be some exchange deposit fees. Be aware of it. Every exchange charges a withdrawal fee because you have to pay a blockchain transaction fee when you withdraw the crypto. However, the exchange fee is charged 10 times as much as the blockchain transaction fee. However, the withdrawal fee is different from one exchange so be careful about that. If you want to withdraw crypto from exchange to an another exchange, use a coin with a low withdrawal fee. I'll post about that in a future post.

05 Deposit withdrawal limitations

There are some exchanges where they say that if you deposit this coin, you  have to deposit this much. If not it won't show it in the balance. So if you deposit too few, you have to deposit more untill that number, or you get stuck in the exchange. If you don't have minimum withdrawal amout you can not withdraw that amount .That is why this matter is a must-see

06 Minimum confirmation required for a Deposit and withdrawal

This is especially true for the less popular coin. The popular coin we use often doesn't have that much effect. When you deposit a coin in any exchange, Confirmation means that how many blocks that need to compleate before balance is displayed.  ex- If you deposit ETH to binance, binance will show ETH in your balance when the block you deposited is 12 blocks ahead. A block of Ethereum is going to take 1 minutes. But there are some exchanges where some coins have 50 - 100 confirmations.So some coin has to wait for hours to be deposited on some exchanges. If you suddenly want to sell, you can't. As a result, the number of confirmations to be deposited  is very important to the less popular coin.

07 Minimum tradeable token size

Every exchange has a minimum buy sell order size. So you can't trade for less than that. In that case, the deposited crypto will get trapped. So if you want to deposit less than $ 50, you should look for that too.

08 Taker maker fee

Taker / maker fee is the fee charged by trading. In most exchanges this is like 0.1%. This is not a big deal.

09 Security status

The other is the security status of the exchange. Has the previous exchange been hacked or not? 

Considering many of these, the following exchanges are the best exchanges to trade at the moment. It is better to have your ID verified in these exchanges and perhaps pay $ 10- $ 20 airdrops / Trading contest so that the giveaway can be missed when the ID is verified.

01 Binance
02 Okex
03 Huobi Global
04 Bitforex 
05 Cex.io
06 Coinbene
07 Bittrex
08 Digifinex
09 Binance Dex (Decentralize)
10 Forkdelta (Decentralize)


While in the crypto field we have to use the main exchange as well as many small exchanges. However, it is not wise to keep a large amount in exchange without trading daily. Because the security was high, the binance exchange, the main exchange, was also hacked. It's best to put crypto in a private wallet

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