What is cryptocurrency?
Cryptocurrencies or “cryptos” are made up of digital bits, also known as digitized money. Cryptocurrencies only work in the electronic environment used to pay expenses. To carry out transactions, users must rely on 3 factors: Internet, computer networks and electronic means of the issuer (3rd party).
What is a cryptocurrency exchange?
A cryptocurrency exchange is an Internet marketplace for trading cryptocurrencies. It’s a space where buyers and sellers (or searchers and vendors) interact indirectly with each other to exchange, buy, and sell cryptocurrencies according to the specific rules of each exchange.
How to choose a reputable cryptocurrency exchange?
There are four main factors that determine which is a reputable cryptocurrency exchange.
Investor assets: Since all transactions are carried out in virtual space (online), it is necessary to ensure a high level of information security.
Good customer support: will protect you when participating in this volatile cryptocurrency market.
Trading fees: should be your top priority when choosing a cryptocurrency exchange. Because when transaction costs are high, your profits go down.
User-friendly interface: makes your investment easier and more efficient than complex interfaces.
Blaclkman Trader would like to introduce the largest and most reputable e-platform today: Binance
Binance was founded in 2017 by Changpeng Zhao (known in the Coin community as CZ). Currently it is the exchange with the highest number of users worldwide.
Advantage:
1. Huge Alt-Coin List
2. Low fees
3.ICO Launchpad
4. Security
5. High Volume Trading
Shortcoming Binance
Binance is one of the largest crypto exchanges in the world, so it is completely inevitable that hackers will be targeted. As of now, Binance has suffered a total of 3 attacks. The 1st time, on 07/2018, hackers broke into the server and took away 96 BTC. For the 2nd time, hackers took advantage of APIs and vulnerabilities to attack and take away 7,074 BTC. Finally, as recently as 05/2019, Binance was stolen by hackers who lost 1 SYS equivalent to 96 BTC.
With a total of these 3 attacks, traders on Binance are also often affected more or less, but for SAFU Fund, it has helped Binance completely repair the damage to investors as quickly as possible. Since then, Binance has always been a reputable crypto exchange in the cryptocurrency market today.
Although it is the largest coin exchange, but in newly listed coins and tokens, low capitalization will limit the Binance list at first, so Blackman Trader would like to introduce you to 4 more exchanges that are also highly reputable and have many newly listed coins/tokens, providing the opportunity to increase your account many times.
1.KUCOIN EXCHANGE
Kucoin Exchange is a centralized exchange founded on 15/09/2017 in Hong Kong. Kucoin Exchange is a Chinese cryptocurrency exchange, headquartered in Seychelle. The CEO and founder, Michael Gam, is a former technical expert at Ant Financial, an affiliate of China’s Alibaba Group. He has also served as a senior partner at Internet giants such as MikeCRM and KF5.COM. OO, Eric Don, has been called a “senior Internet researcher, systems architect and Internet star”.
Advantages of Kucoin
- Support trading a variety of currencies, tokens, languages (22 types).
- Variety of products, tools, trading features.
- High liquidity: The liquidity of the exchange is always in the Top 5 exchanges with the largest volume in the market.
- Own the app on iOS and Android mobile devices.
- Easy to use, user-friendly interface.
- Low trading and withdrawal fees.
- Special Earn feature: a feature that allows users to earn more passive income through Staking with high profit margins
- High security: KuCoin offers very good security features such as via Email, 2-factor security (2FA),..
- Secure Digital Wallet: KuCoin’s cryptocurrency wallets are multi-layered encrypted, stored offline in secure banks, trust funds, and periodic bank audits.
- 24/7 customer support: Customer support via web, email, wechat. Customers will have their questions answered within 10 minutes.
- Page News: KuCoin has a page dedicated to updating the latest breaking news and announcements on the exchange, helping investors keep up to date with all changes of the exchange.
2.MEXC TRADING PLATFORM
- MEXC is an exchange founded in April 2018, the MEXC exchange is one of the world’s leading digital asset exchanges. The core members of the team come from world-class businesses and financial companies who have rich experience in the blockchain and financial industries.
- Advantage
- MEXC has many features and many trading markets, from spot trading to smart contract trading, with many incentive programs for MX Token holders.
- In addition, MEXC has good security with the addition of an additional layer of Anti-Fishing security for users to confirm official information in addition to KYC verification.
- MEXC’s referral commission program is relatively high, ranging from 20% – 80%. The commission will depend on the amount of MX tokens held by participating referrals.
- Shortcoming
- The interface is not optimized, it is a bit complicated for newbies and there is a lot of unnecessary redundant information.
- The website interface still has many errors from the system.
- MEXC sometimes encounters freezes in the deposit/withdrawal feature
