How to Choose the Best Crypto Trading Exchange

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At the moment cryptocurrencies are mostly used for speculation and trading. As you might already know, there is always a need for third-party interference to conduct trading operations. Exchange or a broker usually does the job as long as it is not an over-the-counter market. It is very important to choose the right exchange due to many scams, fraud, hacks, and poor performance exchanges. This article will explain to you how to choose the right exchange and will give you some of the best examples.

Is the exchange safe?

Before choosing any crypto exchange the most important thing is to understand whether or not the exchange is safe. Your funds can get stolen by hackers or scammed by fraudulent exchange owners. It is fundamentally important to choose a crypto exchange that stores its funds in cold storage so it is close to impossible for hackers to move large amounts out of the exchange. See picture of largest cryptocurrency exchange hacks below. You should also remember that funds stored on a self-owned hardware wallet is always safer than storing your funds on an exchange.

Crypto exchange hacks by size. Source: Insider PRO

What trading instruments is the exchange offering?

If you are willing to trade the mayor cryptocurrency pairs, then by this criteria almost every exchange will be suitable for you.  When it comes to mid and low cap altcoins you have to seek for specific exchanges. Also, you must check if the exchange is offering real cryptocurrency trading or derivative trading. Derivative markets usually come with bigger leverage and liquidity but their price usually does not reflect real bitcoin price and often makes different, not synchronized price moves.  

Other exchange specifics

A Very important thing to look for is trading volume and liquidity. For every trade you make, you want to be sure that there is another party willing to do the opposite trade. If the exchange does not have any liquidity you might be left with 10000000 dogecoins that you can not liquidate and tell everyone that you are a “Millionaire”. Usually larger the trading volume is the better. The issue that goes hand by hand with trading volume, is trading platform speed. Some platforms are perfect and run without any ease in moments of huge trading volume, some are just slow and clunky and takes you 5 minutes just to confirm a trade. Coughs *Kraken* Coughs. So it is just reasonable to choose the best volume/performance ratio exchange.

List of most popular exchanges

How to start trading in these exchanges?

You can start your crypto journey by registering and depositing funds in one of these exchanges:

BitMEX is a centralized next-generation crypto-coin trading platform, which supports highly leveraged trading via perpetual and fixed-date contracts. To start trading with BitMEX, click HERE.

HitBTC is centralized and it claims it is the world’s most advanced cryptocurrency exchange. Since 2013, HitBTC has been providing markets for Bitcoin, Ethereum, Litecoin, Dogecoin, Monero, USDT, and more than 300 cryptocurrencies in total. To start trading with HitBTC, click HERE.

Binance or Binary Finance is currently the world’s second largest cryptocurrency exchange, with around $6 billion in assets traded in an average seven day period. To start trading with Binance, click HERE.

Kraken, a centralized US-based cryptocurrency exchange operating in Canada, the EU, Japan, and the US, and “the world’s largest bitcoin exchange in euro volume and liquidity”. Kraken provides Bitcoin pricing to the Bloomberg Terminal. To start trading with Kraken, click HERE.

Bittrex is a secure, reliable, centralized and advanced digital asset trading platform developed for international customers and built on Bittrex’s cutting-edge technology. To start trading on Bittrex click HERE.

Kucoin is a centralized cryptocurrency exchange located in Hong Kong. It currently has 178 coins and 398 trading pairs. The most active trading pair on KuCoin exchange is META/ETH. KuCoin is live since 2014. To start trading with Kucoin, click HERE.

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Blockchain conference in Seattle 2018

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Today a lot of industry specialists will gather in a blockchain conference in Seattle. It is a two-day conference and it will focus on community-building, educating, and showcasing all that the Pacific Northwest offers to the blockchain ecosystem.

Some of the brightest speakers are Joe Roets, the CEO of Dragonchain, Robert Mao, the CEO of Arcblock, Perianne Boring, the Founder and President of Chamber of Digital Commerce and Matthew Roszak who is the Co-founder of Bloq.

The conference will feature series of events like “Women in Blockchain” breakfast or “Developers Academy” workshops for developers and engineers who will teach the attendants how to develop dApps, write smart contracts and more.

Since Bittrex is one of the main sponsors for this event, the company has delegated 3 spokespersons, to talk about series of topics: John Roth (Chief Compliance and Ethics Officer), Kiran Raj (The Chief Strategy Officer) and Katey Harrison (The Director of Digital Assets).

Dragonchain is the presenting partner of this conference and their Certification and Training Architect Tommy Cooksey will be leading the Developers Academy, “he is responsible for collaborating and creating the training tracks, materials, certification tracks, and pilot training programs for the Dragonchain Platform,” reads the description on their website.

The conference agenda is set into five tracks:

1. Blockchain in Business: Use Cases, Proof of Concepts & Pilots

2. Blockchain Tech & Platforms: Building the Best Blockchains

3. Investing in Blockchain

4. Blockchain in the Public Sector

5. Regulatory Environment

And after all this the Developers Academy will take place.

The exhibit hall will feature big-name companies like Bittrex, Arcblock, Neo, Storm, Dragonchain and many more.

Overall the event looks very well organized and up to date. The event is organized by The Blockchain Seattle Community which was founded in 2016 as a meetup group with the objective of educating and connecting the blockchain community. Judging by the information provided, this is going to be the first large-scale event for this Seattle Community, but they have been doing regular events within their Meetup group, which has more than 2,5k followers.

Comment below whether you’re going to attend this event?


BTG gets delisted from Bittrex with a scandal

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Bittrex is one of the largest cryptocurrency exchanges, and just recently they delisted BTG (Bitcoin Gold) from their exchange. But there is more to this than just a delisting. Previously in May 2018, Bittrex and a number of other exchanges like HitBTC, Bithumb, Binance and etc., experienced a 51% attack that allowed hackers to steal more than 388k BTG (Approx. $18 million).
“On May 19, 2018, U.S.-based digital currency exchange Bittrex allowed attackers who deposited 12,371 BTG to trade and withdraw coins to perform a 51% attack to double-spend those BTG. The operator has not disclosed the value of the coins that were withdrawn,” writes NewsBTC. 

Referring to a statement made by BTG, Bittrex wanted 12,372 BTG from the BTG team to cover the loss they incurred. Later Bittrex settled and even “came a step towards” the BTG team: “They later informed us they would cover part of the loss from their own BTG reserves and requested we pay the remaining ~6000 BTG, and that if we did not, we would be delisted.”

Then the BTG team offered a loan from the endowment, because its time-locked for future use. Bittrex turned it down and insisted on a payment.

While this story has been only told from a BTG point of view, we are still waiting on an official Bittrex announcement that could clear some of the offense coming from the BTG team towards Bittrex.

Source: – The BTG team announcement.

Bittrex allows USD to crypto trading

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Recently Bittrex, one of the worlds largest crypto exchanges, announced that now they allow retail clients to trade with US Dollars on their platform. The exchange was able to close a deal with Signature Bank some weeks ago, that allows the platform to offer trading with US dollars. In order to fully implement the US pair, the exchange will be inviting small groups of retail customers to participate in the USD markets. Individuals in four different states will now be able to trade US pairs at Bittrex. At the moment, only traders from Washington State, California, New York and Montana are able to participate. But Bittrex explains that later more states will be added. 

“We’re going to continue implementing these phases until all qualified customers are included, and we’re making good progress. For example, at launch, we started with only corporate customers, and only two weeks later, we’re beginning to methodically add batches of retail customers,” says in their blog post. 
Binance is also trying to offer fiat pairs. In order to do that, it has opened bank accounts in Malta to offer EUR pairs and it is working in the island of Jersey to open a GBP bank account.