Cryptocurrency has not only provided the fastest way to transfer money, but also a new entity that can be used to trade and make money alongside stocks and other commodities. While you can sell and buy bitcoin directly, you can also use bitcoin trading exchanges to continue your cryptocurrency trades. There are many exchanges where Bitcoin trading is safe and secure and customers are also facilitated with many advanced services. As a cryptocurrency investor or trader, you can choose any of the exchanges as you see fit. However, it is recommended to take a look at the reviews of some before unsubscribing from the one. Below is a brief overview of the best bitcoin exchanges around the world.
It is probably one of the most reputable and largest bitcoin trading exchanges with dual facility direct and wallet trading. Founded in 2012 through venture finding by Y-Combinator, CoinBase has grown rapidly since then. It has many sell ethereum in Nigeria lucrative services like multiple cash deposit and withdrawal options, money transfers between two CoinBases are instant, wallet setup with multiple signature options for safer transfers, bitcoin deposits are insured against loss, etc. CoinBase has a wide range of payment partners from Europe and the US allowing transactions to be seamlessly processed through them. It has relatively low transaction fees and offers bitcoin trading along with a large number of altcoin trading.
One of the oldest and most reputable exchanges, launched in London in 2013 as a bitcoin trading exchange and also as a cloud mining facilitator. Later, its mining power grew so enormously that it held almost half of the network mining capacity; However, it has now been closed. “CEX.IO” allows clients to expand to the much larger amount of bitcoin trades and it has the ability to make bitcoin instantly available at the desired price. However, a somewhat high exchange amount is charged for this exchange, but this is compensated by the security and facilities that allow multi-currency transactions (dollars, euros and rubles) to buy bitcoin.
It is one of the most advanced trading exchanges and especially suitable for experienced cryptocurrency traders. With high liquidity for both Ethereum and Bitcoin, this exchange offers better options like leverage, margin funding, and multiple order trading. Apart from that, Bitfinex offers the features of customizable GUI, many order types like Limit, Stop, Trailing Stop, Market etc. This exchange also offers about 50 currency pairs to trade and with easy withdrawals for all. One of the largest exchanges in terms of volume traded, Bitfinex offers pseudonymity for trading and only for some of the services that require identification. The only downside with this exchange is that it does not support buying bitcoin or other altcoins through fiat transactions.
Founded in 2011, it is the oldest exchange offering cryptocurrency and bitcoin trades. Most respected because, despite being the oldest, it has never faced any security threat and that until recently. Bitstamp currently supports four currencies Bitcoin, Ethereum, Litecoin and Ripple and is available with the mobile app in addition to trading on the website. It has great support for the European users or the traders who have their accounts with Eurobanks. The security is advanced and cold storage type, which means the coins are stored offline. So, it can be said that it is totally impossible for any hacker to get in. Last but not least, its complex user interface suggests that it is not intended for beginners but for professionals, and it offers relatively low transaction fees.
It is one of the largest bitcoin trading exchanges in terms of liquidity, euro-crypto trading volume, and Canadian dollar, USD, and yen trading numbers. Kraken is the most reputable exchange that has been steered through the turmoil of cryptocurrency trading and has managed to keep customer funds safe regardless of the other exchanges being hacked at the same time. With 14+ cryptocurrency trading facilities, the user can deposit both fiat and cryptocurrency along with similar capacity for withdrawals. However, it is not suitable for beginners but has better security features and low transaction fees compared to CoinBase. The most important factor for Kraken is that it is trusted in the community and was the first to display volumes and prices on Bloomberg Terminal.
ICO Token Rating and Misplaced Emphasis by Blockchain Experts and ICO Advisors
The statistics could no longer be ignored. Most ICOs tank and stay tanked once the tokens hit crypto exchanges after the frenzy and ‘FOMO’ participating in the crowdsale is over.
Most observers following the ICO phenomenon generally agree that the trend over the past few months has been for ICOs to fall in value post-crowdsale, with many buyers waiting in vain for the promised “moon” once the Cryptocurrency reaches an exchange portal.
What is not discussed, however, is the main reason why we observe this phenomenon, and what the participants in a crowd sale, including the rating agencies that most of us rely on to make a choice, must be doing wrong when they pick which ICO has the most value, or has the best chance of increasing in value once the crowdsale is over.
While there are many reasons one could legitimately put forward for this phenomenon, there is one fact that I believe is probably more responsible than most of the other contentious reasons: ICO token valuation and the misplaced emphasis on “blockchain Experts”, “ICO Advisors”. ‘ or ‘technical geniuses’ for erc20 tokens.
judging a project by these criteria, the need for blockchain technical experts or technical advisors for ICO is overkill or even completely misplaced, unless the project is actually trying to create a brand new coin concept . With most ERC20 tokens and copycat coins, the really important consideration should be the business plan behind the token and the management history and leadership profiles of the team leaders.
As anyone working in the industry should know, creating an ERC20 token from Ethereum or similar tokens from other cryptocurrencies does not require great technical skills or an overrated blockchain consultant (in fact, with new software out there an ERC20 token can can be created by a total tech novice in less than 10 minutes.
So technically it shouldn’t even be a big deal for tokens anymore). The key should be the business plan; level of business experience; Competence of the project managers and the business marketing strategy of the main company raising the funds.
Honestly, as a lawyer and corporate consultant with over 30 years of experience at multiple companies worldwide, I cannot understand why people keep looking for a Russian, Korean or Chinese “crypto whiz” or “crypto advisor” to show the strength of an ICO to determine for what is basically a crowdfunding campaign for a BUSINESS CONCEPT…
I strongly believe this is one of the main reasons why most ICOs never live up to their pre-launch hype. In an era of an abundance of token creation software, platforms and freelancers, disproportionate focus on promoters’ blockchain experience or technical skills is mostly misplaced. It’s like trying to evaluate a company’s likely success based on its employees’ ability to build a good website or app. This train left the station long ago with the rise of technical hands on freelance sites like Guru; Upwork, Freelancer and even Fiverr.
People seemed to get too caught up in the hype and technical credentials of people promoting an ICO, especially ERC20 Ethereum-based tokens, and then wonder why a tech-superior Russian, Chinese, or Korean didn’t do the business after the fundraiser end of the company can deliver.
Even many of our ICO rating firms seemed to attribute a disproportionate number of points to the team member’s crypto experience, the number of crypto advisors, and the ICO success story they have on their team, rather than focusing on the underlying business model be created with the funds raised
Once you understand that over 90% of cryptos and ICOs out there are simply tokens created to raise crowdfunding for an idea and simply not a token for the sake of the token, then people’s focus will shift from the technical point of view the more relevant work of evaluation shifts to the business idea itself and the business plan of the company.
Once we enter this era of evaluating, before deciding whether to buy or invest in a cryptocurrency, we will begin evaluating the future prospects or value of our tokens based on sound business considerations such as:
- Swot analysis of the company and its promoters
- Leadership skills and experience of team leaders
- The solidity of the business idea beyond the creation of a token
- The company’s marketing plan and strategy to sell these ideas
- The ability to supply the underlying products to the market
- The customer base for the products and services to be created by the company
- and basis for forecasting market acceptance
What most people don’t realize is that the potential for their tokens to increase in value after the ICO depends not so much on anything technical as on the good things happening at the company raising the funds and the perceived increase in value of the Company it presents its business plan and provides its business products.
Of course, buying cryptocurrency does not buy shares or the security of a company. We understand that, but similar to stocks, tokens react to good or bad news about a company. The only difference is that with cryptos, the effect is amplified by 100x.
So when a company hits a financial or business milestone, the price of its token goes up on the exchange… and it goes down quickly when nothing good happens. So what the company will do and how it will do it after the ICO should be of paramount importance to anyone who doesn’t want the value of their tokens to plummet and stay down forever.
Sure, most tokens would crash once the tokens hit a crypto exchange post-ICO for those wanting to take profits immediately, but whether it will ever return to the expected multi-digit profits always depends on the criteria you’ve got buy or sell ethereum I already outlined above. After you buy a token, the values of “Crypto Advisors” and “Technical Wizards” go to zero relative to the potential of your tokens.
Following this reality, I think a savvy crypto buyer or investor should focus less on how many crypto consultants a project has or how technically sound the team is (unless the company’s underlining business is technical in nature) and should focus more on the management, marketing and potential customer base of the company raising funds through an ICO.
In other words, give more credit to the business and management side of the ICO than to the jargon that doesn’t help your token in the market once the money has been raised!