A crypto exchange is a service that enables transactions with digital assets: buy, sell, and swap. Reputable crypto exchanges offer a much wider range of functions:
- spot trading;
- staking (passive income);
- trading with leverage;
What crypto exchange can we call “reputable”?
Looking for a good crypto exchange platform, first and foremost, users’ attention should be paid to its daily trade volume. The more trust the exchange deserves – the bigger the trade volume. Look at the most popular crypto exchange, Binance – its trade volume reaches $14,3 billion (as of mid-April 2022). Impressive daily trade volume indicates a great deal of transactions and users per day.
The second thing to consider is the number of crypto assets available on a platform. The bigger it is, the more credible the exchange. For example, WhiteBIT offers over 400 trading pairs. Besides, the service allows buying crypto with fiat currencies. That’s another thing to consider when choosing a crypto platform.
The next feature of a reliable crypto exchange is its level of safety. Popular centralized platforms like Binance, WhiteBIT mentioned above, and other less popular Coinbase, Huobi, OKEx, etc., offer robust security for their clients’ investments. WhiteBIT stores 96% of users’ funds offline, making it impossible for hackers to reach.
The next thing to think about when picking a reliable crypto exchange is additional methods for users’ account protection such as two-factor authentication. It is crucial when clients store their investments on the exchange wallets to have different approaches to protect their accounts from third parties. The WhiteBIT exchange, as well as other reputable crypto exchanges, provide this way of protection for their clients.
WhiteBIT is considered to be the best crypto exchange platform, according to users’ reviews. They actively comment on a convenient WhiteBIT app that can be customized to a user’s liking. Also, clients note lightning-fast customer support on a Telegram chat, lower transaction fees, and a profitable affiliate program that allows earning up to 40% of users’ fees, brought through a referral link.