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Cryptocurrency exchanges are among the main elements that constitute the cryptocurrency ecosystem. Exchanges enable cryptocurrencies conversion to Fiat money and crypto to crypto conversion amongst others. There are many exchanges out there ranging from coinbase, local bitcoin to Huobi and others. Here we compiled some of the exchanges that will surprise you this year in terms of their performance.
Gemini Exchange is under the Gemini Trust Company, LLC in the United States. It is a digital currency exchange and custodian that enables users to buy, sell and store a variety of digital assets. Bitcoin proponents and early investors, the Winklevoss twins found the exchange. The founders Cameron Winklevoss and Tyler Winklevoss are serial investors in many successful internet businesses including HarvardConnect.
The Gemini founders say cryptocurrency should regulate in order to bring in the big institutional investors it yearned for. The exchange has it’s own native cryptocurrency, the Gemini Dollar. Gemini claims that the Gemini dollar directly tethers to the USD. This means the cryptocurrency can attain stability almost like the USD. The exchange is among the first applicant for licensure for trading Bitcoin futures.
Gemini gained public attention when it occasionally appeared on different news outlets during its attempt to obtain a license for trading Bitcoin futures. Given the track records of the Winklevoss twins, Gemini certainly is an exchange to watch this year.
The different catastrophe of hacks in cryptocurrency exchanges led some of the industry players to turn to a more secure decentralized approached. Changelly is among the most popular decentralized exchanges, which is already operational. Changelly has a very easy to use UI and sums up the prices of different digital assets.
This exchange has a significantly affordable transaction fee with an open fee model. The exchange currently charges 0.5 percent on every trade as transaction fees. Another interesting aspect about the fees is that it is constant for all the digital assets on the platform. The platform incorporates merchant APIs to enable cryptocurrency trading via an easy to use widget.
Furthermore, change is really very fast in terms of transaction processing with average transaction speed, ranging from a few seconds to 3 minutes. Changelly is among the few big exchanges that do not require identity verification before trading at the platform.
Shapeshift is among the list of the most popular decentralized exchanges on the planet. The exchange allows trading even to unverified users from any part of the world. However, at the moment, the platform succumbed to SEC regulations, that ensured they enforced a very strict KYC policy. The platform is useful from anywhere in the world apart from North Korea and New York State.
Shapeshift does not facilitate exchanges to fiat money. The exchange only exchanges one cryptocurrency to another in a peer-to-peer setting. The platform allows users to choose between basic quick trades or more precise trades. The list of coins available for exchange on the platform varies weekly as liquidity changes. However, all of the stable popular cryptocurrencies on the market hold their positions at the exchange.
OpenLedger Dex [Bitshares]
The blockchain company OpenLedger developed their own decentralized exchange Bitshares. BitShares brags of many amazing features on their platform. Recently the platform published that it can handle the trading volume of the NASDAQ while setting orders within seconds of submission.
OpenLedger host another decentralized exchange built on top of the BitShares blockchain. OpenLedger allows users to use SmartCoins to withdraw directly to cash via OpenLedger all-in-one debit card. The platform also supports money transfers through Ripple and promises to add PayPal options soon. This implies OpenLedger users to use cryptocurrency in the same way as fiat money.
Altcoin.io is a decentralized cryptocurrency exchange powered by Atomic Swaps. Although it is yet to officially launch sometime this year, Altcoin.io currently allows users to signup on the platform and obtain the atomic swap wallet. Altcoin.io also allows anybody who wants to set up their own cryptocurrency exchange to do so using its design capacity.
Majority of existing cryptocurrency exchanges in existence are centralized. However recent reports revealed that centralized exchanges are more susceptible to malicious attacks than their decentralized counterpart. In 2019 many well-established exchanges will expend to decentralized modes to keep up with the industry changes.
In this list, we shared the list of the top five cryptocurrency exchanges we think will rock this year. No part of this publication is for advertising, the article is strictly informative. Yet once again we still advise users to research about an exchange before signing up on it. Some exchanges are scams and others sometimes do not live up their end of the bargains.
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