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August 20, 2019

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Crypto Exchanges Welcoming Visa and MasterCard

Digital currency platforms are looking to cater to people’s ever-growing need to own digital currencies, by introducing systems that support purchasing currencies with credit and debit cards. Most people already hold cards which make it convenient to use. However, using a credit card in such transactions tends to be riskier and more expensive. That is why it is important that you learn about the transaction fees, limitations on amounts transacted, and the available coins on a platform.

This article is set to give you detailed information on some of crypto exchanges that accept Visa and MasterCard.

Table Of Contents

  1. Binance
  2. Coinbase Pro
  3. Bitstamp
  4. KuCoin
  5. BitMart
  6. HitBTC
  7. DigiFinex
  8. ABCC
  9. Exmo
  10. Liquid
  11. Bithumb
  12. Bitrue
  13. Bitlish
  14. Fedlio
  15. CoinMate
  16. CoinsBank
  17. Kuna
  18. LiteBit
  19. BitBay
  20. Cryptonex
  21. CEX.IO

1. Binance

Binance is in a bid for retaining its position of the world’s largest cryptocurrency exchange trading spot, partnered with Simplex to start accepting debit and credit cards for crypto payments. Some of the digital currencies supported on the site are Bitcoin, Litecoin, Ethereum, and XRP.

Buying crypto with Binance is easy and straightforward: go here, select the coin you want to purchase, enter the amount, and proceed to insert your card details, then finish.

Some of the benefits you will get from using a debit or credit card to purchase cryptocurrency on Binance include:

Rapidity

The cryptocurrency reaches your wallet in 10 to 30 minutes after purchase.

Cost efficiency

It charges $10 or 3.5% of transactions, whichever is higher. Even though the rates are subject to change depending on prevailing market trends.

The minimum transaction allowed by Simplex is $50 and the maximum is $20,000 in a day and $50,000 in a month. It is important to note that residents of Connecticut, Mexico, Washington, New York, and Hawaii are not allowed to use the site. Globally, the restricted countries include China, Afghanistan, Congo, Cuba, Libya, Eritrea, Sudan, Ivory Coast, Iran, Lebanon, and South Sudan.

Credit and debit card support helped Binance remain one of the most sought-after trading platforms globally. Even though it might be a little costlier to purchase, users are ready to spend to get the guaranteed speed and convenience.

2. Coinbase Pro

Coinbase Pro has made it possible for users across several countries to make both physical and online transactions using cryptocurrencies such as Ethereum, Bitcoin, and Litecoin, directly from their Coinbase accounts by a Visa card. A Visa card instantly converts a cryptocurrency into fiat currency—e.g. euro or dollar—a customer needs to get.

According to CNBC, Coinbase Pro charges around 2.5% of the currency converted during the transaction and it doesn't charge cardholders any monthly fees. Users can withdraw up to 200 pounds every month in ATMs. You can easily fund your account using this information (for users in the US and UK).

Using Coinbase Pro is convenient as it allows you to make a range of transactions provided that you have preloaded the cryptocurrency in your visa card beforehand. It is also available as an iOS or Android app. The app allows clients to select the cryptocurrency wallet of their choice. It also offers transaction summaries, spending categories, and instant receipts.

Starting out exclusively in the UK, Coinbase Pro has fast grown to other countries across Europe, increasing its accessibility. It partners with Paysafe Financial Services Limited to issue Visa Cards.

As Coinbase Pro gave the crypto holders carte blanche to use a cryptocurrency wallet, it staked out its Visa’s claim for being one of the most preferred payment methods. The company plans to expand to other regions.

3. Bitstamp

Purchasing your favorite cryptocurrency is now easier with Bitstamp. It allows purchasing the currencies using a MasterCard or Visa-branded debit and credit cards in supported countries. Digital currencies supported on this site include Litecoin, Bitcoin, Ethereum, and XRP.

Initiating transactions in Bitstamp is just a piece of cake. You just choose the credit card to use on the deposit page from the side menu. Then choose the cryptocurrency you want to buy, then corresponding currency, and amount you would like to pay through. Enter the credit card details and submit.

Bitstamp partners with Master Payment as the payment service provider. It comes with a 3D secure technology system that makes it one of the safest transaction platforms. The platform charges 5% of transaction amounts with a maximum of credit/debit card Bitcoin purchases of €5,000/5,000 daily and €20,000/20,000 monthly.

Bitstamp app is available for unlimited access on mobile devices. It comes with advanced analytical and order type tools for experienced traders and a simplified interface for beginners. The platform also allows free deposit or withdrawal for cryptocurrencies.

Bitstamp consistently updates prevailing BTC market prices. This means you can purchase the currencies at the currencies and not the ones locked by the site.

To sum it up, Bitstamp is a reliable exchange platform you can rely on for your Bitcoin purchase. It comes with the first-grade data-encryption security, being easy-to-use even for beginners.

4. KuCoin

Like Binance, Singapore-based KuCoin has partnered with Simplex to allow users worldwide to buy crypto using their debit and credit cards—move that ensures that clients get a secure and fraud-free purchase experience while opening up KuCoin to more users. Users can purchase Ethereum, Ripple, Bitcoin, Litecoin, and Bitcoin cash ABC, both with euros and US dollars. People from over 100 countries can use the service.

It takes 5 to 30 minutes to set up a new credit card on KuCoin platform.

Purchasing coins using credit cards with KuCoin is easy. Log in, select cryptocurrency, click Buy Now, then check out Terms of Use, and click Confirm.

Simplex charges a fee of 5% of the total transaction. The minimum transaction allowed is $10 per purchase order.

With over 5 million users already registered on the platform, introducing credit cards purchase makes KuCoin a good choice of a digital currency trading platform. It comes with a range of benefits and the likelihood of introducing newly-created currencies Grin and BitTorrent token.

5. BitMart

BitMart, one of the premium worldwide-operating digital asset trading platforms, in collaboration with Simplex.com, offers a platform where in a few steps you can quickly and safely purchase digital currencies such as Ethereum and Bitcoin with your debit or credit card.

The service allows buyers and merchants to complete transactions online without the risk of exposure to fraudulent trade practices. To this end, the system has an integrated card-processing solution, welcoming several currencies with a presence in over 100 countries. This ensures smooth and secure e-commerce experience.

BitMart comes with a range of benefits. Verifying the payment is easy and takes a few steps, making the whole transaction process simple. The transactions in normal conditions take 10 to30 minutes which is quite fast. From time to time there can be extreme cases of transactions lasting for 48 to 72 hours due to identity verification delays. You can easily resolve this by continually checking the status of your transaction on the site and making sure you complete the verification request sent via email.

The platform charges competitive transaction fees for the transactions. Simplex charges an additional 5% fee of the transaction amount, with a minimum of $10 per transaction.

BitMart is currently ranked one of the top 20 crypto exchanges with a daily trading volume amounting to $70 million to $120 million. Incorporating features such as enabling the purchase of digital currencies and charging low transaction fees will only provide for further growth.

6. HitBTC

HitBTC allows you to purchase digital currencies on a trading platform. It is one of the well-known crypto exchange sites dealing in hundreds of digital coins. It is available in several countries globally with few exceptions (e.g. Japan).

HitBTC platform comes in three tiers with different transactions limitations.

The lack of software or wallet to store such currencies implies that any unsupported token deposited in the system cannot be retrieved unless they are integrated into the system.

You must, therefore, be attentive when using HitBTC, making sure the contact addresses in your transaction and official transaction address of the tokens are similar.

Some of the benefits you get from trading with HitBTC are charges, competitive transaction fees, quick transaction process, and huge range of currencies to trade. Trading with HitBTC is safe: it offers security features like two-factor authentication, email notifications of new IP logins, and withdrawal addresses.

You should take caution though before engaging with HitBTC due to the fact that it is unregulated, and there have been some negative reviews from past users. It does also not support fiat currencies as trading instruments.

HitBTC is a popular digital currency exchange platform with competitive withdrawal and transaction fees. However, the service still needs to improve some aspects—e.g. customer experience and security of funds.

7. DigiFinex

DigiFinex is yet another digital currency platform powered by Simplex to allow purchasing cryptocurrencies with Visa and MasterCard. Any transaction is restricted may only be from $50 to $20,000, and the digital currency you purchase using the cards is deposited to your DigiFinex account as from any other source. The quotes you get depend on prevailing market rates and you will receive an email to reconfirm the transaction in case of changes in the rates by more than 2.5%, appreciation or depreciation.

Some of the benefits that come with using DigiFinex are that it is fast-to-use as it takes an average of 10 to 30 minutes to complete a transaction. It is also relatively cheap and charges $10 or 3.5% of the transaction amount, whichever is higher. You can also easily track the status of your transaction using a transaction ID sent to your email by Simplex— this brings even more convenience.

You cannot access DigiFinex in unsupported countries such as China, Yemen, Tunisia, Bahamas, Cambodia, Ethiopia, Ghana, Pakistan. It also does not allow Singapore and US citizens to register and use the site due to related regulations and policies.

In a bid to ensure safety, the company has a rigorous anti-money laundering and fraudulent transaction scheme which involves reviewing company policies and procedures regularly to stay up to date with current trends. It complies with all the AML laws and regulations and employs a variety of customer identification methods before authorizing any transaction for both individual and corporate users.

DigiFinex is one of the safest and most reliable digital trading platforms you can rely on for your crypto purchasing needs using debit or credit cards.

8. ABCC

ABCC—in partnership with Simplex—allows buying crypto using credit cards. You can easily purchase Ethereum or Bitcoin using MasterCard or Visa in euros or US dollars.

The transaction cost is 5% or a minimum of $/€10 for transactions under $/€200. Each minimum transaction unit is $/€50 with a daily limit of $20,000 and monthly of $50,000.

The platform has a thorough verification process that might request your selfie. You might also experience delays from technical errors, high currency demand, and potential fraud.

Buying crypto on ABCC using a credit card is an easy process provided that you are in a supported country and already have a card. Select Fiat Trading in the top panel after creating and verifying your ABCC account. Select digital currency, amount and preferred fiat currency, and confirm. Verify the details on Simplex and confirm. Complete the verification process and finalize the transaction.

You can easily check your transaction status on the platform using a Simplex payment ID and reach the customer care on the homepage in case of any concerns or questions related to the transaction. The site can also decline payments based on risk-related reasons, operating in unsupported countries among other undisclosed reasons due to protection from fraud. In conclusion, ABCC is a fast, simple and reliable digital trading platform to purchase cryptocurrencies. Moreover, the intensive verification process makes it safe for regular use as it limits risks of fraudulent transactions.

9. Exmo

Exmo is a reputable digital currency trading platform based in Spain. It is run by a team of international programmers drawn from India, Spain, England, Thailand, and Russia. It works with financial advisors from the USA, UK, and Singapore. Speaking of customer reach, it is accessible in more than 170 countries serving over 253,770 users. Exmo supports a large range of digital coins: Ethereum, Bitcoin, Litecoin, Ripple, Helbiz, Bitcoin Cash, and several others. It also has a number of fiat currencies such as USD, EUR, PLN, RUB, UAH, and TRY.

To add on these amazing features, the site also gives you the option of buying digital currencies with a credit and debit card. Setting up and verifying an Exmo user profile is easy and straightforward. It has few registration requirements. You don’t necessarily have to submit any documents to exchange/deposit currencies. However, it might require identity and address documents to use fiat currencies.

You can go ahead and make withdrawals immediately after verification in either USD or EUR. It takes an average of 1 to 3 days after initiation for withdrawals to appear in the recipient account.

Some of the benefits you will gain when using Exmo platform include fast transaction processing fees, user-friendly site that is accessible in a variety of languages, and reliable customer care ready to help with any concern. Superior website safety is ensured by the two-factor authentication that helps avoid unauthorized access. The system also notifies you of logins from unregistered IP addresses.

Exmo is a reliable and trusted site for your digital currency trading. As long the website greets users from all countries without any limitation, you can access it anywhere in the world.

10. Liquid

Liquid wants to make it easier for their users to trade digital currencies and open the cryptocurrencies to mainstream users. That is why they have partnered with Simplex to introduce the possibility of purchasing the currencies safely and quickly with debit and credit cards. To date, the platform supports euro, with plans to introduce USD and JPY quite soon.

Liquid supports a range of digital currencies such as Ethereum, Bitcoin, XRP, QTUM, DASH, and ONT. It comes with a limitation of $20,000 of daily and $50,000 of monthly deposits. The minimum deposit amount is $50, while the transaction fee is 5%.

Buying cryptocurrencies with Liquid using cards is super easy. You should log in to Liquid website, select funds, and select Buy with a Credit Card. Select currency, enter the amount to deposit, and proceed to the secure payment option in the Simplex platform. Fill out your details and you are ready to have your funds.

Using Liquid to buy digital currencies comes with several benefits like ease and convenience, secure and fast transactions. Also, it allows you to trade a range of over 100 cryptocurrencies.

Liquid is supported in all countries across the world except the ones deemed by FATF as high-risk states, such as Ethiopia, Pakistan, Serbia, Syria, and a few others.

11. Bithumb

Bithumb is a relatively new exchange from a company based in Singapore called Random Monkey. The name does not honestly inspire confidence especially since there is so little information about the company itself. However, they have several advantages. First and foremost is the almost zero transaction fee. It is mainly applied to coin exchanges where the major currency is BTC. A new feature for trading with fiat money via credit/debit cards was recently introduced in April via a partnership with Simplex. You can now buy listed coins using Visa or MasterCard. These features are open to level 2 users, and charges apply depending on your bank.

When you buy coins by card you need to provide a wallet address where the coins will be sent to. When needed, Bithumb will create an automatic link for you. Not much information about limits is available on the site. However, Bithumb is quite strict with security and requires users to pass through the Know Your Customer and 2-step phone verification.

In general, Bithumb is a bit shaky and there is not much activity going on most of the time, as it only trades during Asian hours. It also has a short range of traded coins which includes Bitcoin, Ethereum, Ethereum Classic, Litecoin, and Siacoin. It offers 0.1% trading fees for level 1 users and comes totally free for level 2 users. We are not sure how long this will last though, and in view of that little information and so little user reviews, new users would rather use more established platforms.

12. Bitrue

Bitrue is one of the major crypto exchanges will a daily trading volume of >20$million. It originated from Singapore with offices in the US. They recently brought online their fiat-to-crypto program powered by MasterCard and Visa. Although the platform boasts over 40 coins in total, only a few are available for card purchase. Those are XRP, Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). Purchase fees are 3.5% or $10, whichever is higher. After purchase, it takes about half an hour for the coins to reach your wallet, which is pretty fast.

Bitrue deposit fees are very friendly at 0.98% taker fee, a similar maker fee, and a withdrawal fee of 0.0005 BTC. The main advantage of Bitrue, however, is that it is XRP-based. In fact, XRP fans enjoy massive benefits on this exchange including minimal trading fees (up to 50% lower), fiat transfer fees of 7.3%. However, this also applies to some other cryptos such as BTC, Tron, and Ethereum.

Bitrue is rated 67th by exchange volume. It also has three special focus areas: Security, Speed, and Simplicity, all well-developed. Their UI both in the app and on the website is intuitive and easy-to-use. It also supports different languages like Chinese (traditional and simplified), Japanese, Korean, Indonesian. Its trigger orders feature for buying and selling currencies is one of their cornerstone features. Overall, we find that for those whose favorite coin is XRP who love trading XRP pairs, Bitrue is the best place because of its security, rewards, and user-friendliness.

13. Bitlish

Bitlish is a crypto exchange registered in the UK. It has listed most of the major coins available such as BTC, ETH, LTC, IOTA, NEM. One of its most special features is that it also allows you to trade against major fiat currencies like EUR, USD, RUB, and RMB. However even though it allows trading in USD, it has banned users from the US. In addition, you will discover that members from the EU receive distinct discounts in transfer fees.

Bitlish also has a small change in the way it charges its fees. This is because in addition to a percentage commission they also charge a small fixed amount depending on the fiat currency used. In general, it is 3.79% for RUB, USD, JPY, and GBP plus the fixed fee. Withdrawal fee is 1.79% and fixed charges for the different currencies. This averages 0.3% for non-verified users and 0.2% for verified users, which is quite fair given industry averages. In addition, fees for makers are at 0% which helps improve liquidity.

Broadly speaking, Bitlish is quite a good platform with major positive features, especially its security which is one of the best in class. It also boasts fast API both on the site and in the app. They also allow direct withdrawals to MasterCard at competitive rates of about 2.79% and fixed price depending on fiat currency used.

14. Fedlio

Fedlio is an exchange currently based in Seychelles. According to CMC (CoinMarketCap, an independent site which shows trading volumes of different exchanges along with other information), it is placed at position 39th globally with a trading volume of $125 million. Quite impressive, right? A flat-rate fee of 0.20% for both makers and takers is one of its other major advantages.

Fedlio allows you to buy coins using MasterCard and Visa, although no deposit fee information is available on the site. Withdrawal to card fee amounts to 0.001 BTC. Apart from Visa and MasterCard, one can also use Alipay, Ok-Pay, and Swift wire transfers. This makes it an entry-level exchange friendly to new crypto investors.

However, lots of user reviews about this exchange are quite negative, with some actually claiming that it is a scam. As of February 2019, many traders on the site are reporting loss of their money upon requesting a withdrawal, and the exchange has gone silent on the issues and has not posted any updates. We therefore advise new users to be very careful with that exchange until more information is available on the issue.

15. CoinMate

CoinMate is a crypto exchange based in London and specializing in BTC/EUR trading. In terms of volumes, it is in the lower range averaging just below £90,000. However, this is not so bad for an exchange focusing on Eastern Europe markets. Other features of CoinMate are that it offers two UI that is only available on its website: simple for new traders and advanced for more experienced ones. It has yet to come up with a mobile app (the site is mobile-optimized).

CoinMate offers run-of-the-mill charges for trading, depositing, and withdrawal. The deposit can be done via BTC, SOFORT, bank transfers and MasterCard. People from Eastern Europe will find SOFORT deposits to be very convenient and cheap at 1.5%. MasterCard deposits are charged at 3.8% and withdrawals at 3.98%, for a minimum of €1. Visa payments are yet to be introduced as of June 2019. For liquidity purposes, maker fee is set at 0.05% and taker at 0.35%.

CoinMate has excellent security features, requiring bank statements, address information, and government ID pictures all taken while on live camera. There are three levels: Basic, Verified and VIP accounts. Major downsides include the number of pairs available for trading. There are 14 as of June 2019, with major pairs including TC/EUR, ETH/EUR, BCH/EUR, ETH/BTC, BCH/BTC among others. The exchange is unavailable for users from the US. Indeed, it is designed for and most conveniently suits traders using euros: in this very regard, we highly recommend it.

16. CoinsBank

CoinsBank is an exchange registered in Belize. It also has its major focus on European markets and currently specializes in four cryptos: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and XRP. It also focuses on trading fiat currencies and has an impressive list on the same: Australian dollar (AUD), Japanese yen (YEN), British pound (GBP), Russian ruble (RUB), US dollar. This makes it perfect for those who focus on trading with fiat currency.

CoinsBank fees are a bit on the premium side with deposit fees at 0.01% per fiat deposit and 0.5% for withdrawal fees. It should be noted that ETH and BTC deposits are free. To deposit fiat currency to CoinsBank, you can use bank transfers, card payments, and system payments like Perfect Money, Qiwi and Epay. Fees vary depending on the method used, and a comprehensive list can be found on their website. Trading fees are 0.2% for makers and 0.5% for takers and apply to all currencies no matter crypto or fiat. All transfers are subject to relevant security checks such as the 2-factor verification via email and phone.

CoinsBank generally has some good reviews, and its user interface is simple and user-oriented. Inexperienced users will find it convenient. Its only drawback is the worrisome risk factor. There are unconfirmed reports of deposits not being acknowledged and withdrawals not being honored. There is also little information available on its officials. However, users assess and make decisions on their own. and Totaled up, CoinsBank can be said to be a decent exchange.

17. Kuna

Kuna is a Ukrainian exchange founded by Michael Chobanyan in March 2014. It is basically a small crypto exchange focusing on providing a platform for the Ukrainian currency Hryvnia (UAH) to trade in crypto. That is not the only fiat currency that is accepted and you can now trade also in USD and Russian ruble. Total volume by trade is usually some $650,000 daily, and according to CoinMarketCap is ranked 123rd globally.

Kuna trading fees are fixed at 0.25% for both makers and takers, which exactly matches the market average. Deposit fees vary by currency, with UAH enjoying the lowest fees at 1.5% + 5UAH. Deposit fees for cryptos are zero whereas withdrawal fees vary, with 0.0005BTC for every 1BTC. The full fee list is available on their page. Kuna has several deposit methods for both UAH and USD. These are Advanced Cash, Perfect Money, Ukrainian Visa or MasterCard, and Kuna’s own Kuna code. These methods are now available for RUB.

Kuna's strongest points are excellent security (Mozilla Observatory has rated it B) and people-centered approach. Kuna’s public presence is solid and its customer service excellent. Its biggest shortcoming is its reach as it is currently focused on a very limited market and only trades 19 coins and 26 trading pairs.

18. LiteBit.eu

LiteBit is a Dutch crypto exchange founded in 2013. It is one of the major crypto exchanges in Europe featuring over 50 coins in numerous trading pairs. Its mode of operation is however not like that of a conventional exchange, because it also deals with buying crypto and selling it at a higher price. In this, it functions resemble a spot exchange. It offers two languages, English and Dutch, and mainly attracts EU traders.

LiteBit deposit fees are fixed at €0.42 for each deposit. It accepts euro deposits as well as crypto. LiteBit trading fees are not specified on their website, which is quite unusual for an exchange of such a caliber. However, as it has been around for over 6 years now, they can't be much higher than the industry average. Withdrawal to fiat currency is also available at undisclosed fees. Overall, it would be better to be careful especially for beginners when using this platform. However, fees for crypto transactions using its LiteBit Wallet transactions equal zero.

LiteBit is, in general, a very good wallet with excellent security and easy-to-use UI. It spans over 59 coins available for trade and trades mostly against the euro. It is open to the US which is a major advantage. Its only drawback is the lack of a well-defined fee structure for trading and withdrawals—this is what tends to keep wary investors away.

19. BitBay

BitBay is a Polish crypto exchange that was launched in 2014 by Sylwester Suszek. It is one of the biggest exchanges with daily volumes exceeding $57 million. This is quite impressive for an exchange that was initially started with a view to enabling trade with Poland Zloty (PLN). It is also unique in a sense that it has no restrictions on who can trade on the platform so anyone from any country is free to trade on the platform if they pass the KYC qualifications. It offers two kinds of accounts, individual and corporate. For the individual account, one can trade both as an unverified user and as verified one. A corporate account is much the same, only the trading fees are invoiced on the 10th day of every month.

BitBay trading fees are charged depending on volume by trade. A full structure can be obtained at FX Trading, but basically, if the volume is below £250 it’s charged 0.43% for makers and 0.30% for takers, and so on. One major advantage is also the allowed ways to deposit fiat currency and corresponding fees, of which there is an impressive range. Those include wire transfers that are free, 2% for Express Dot Pay and through the Polish post office. Debit and credit card transfers are available for deposit and withdrawal at a 5% commission and not less than $/€10.

BitBay is among the exchanges that can check almost all the boxes, and its only drawback is that it lacks detailed trading data on its UI and only offers a simple buy/sell option. It also lacks a dedicated API and has a limited range of cryptos.

20. Cryptonex

Cryptonex is an exchange based in the UK and one of the popular exchanges given its daily trading volume of over $114 million daily according to CoinMarketCap. It’s mainly focused on offering a wide range of fiat-to-crypto pairs as well as cheaper fees. It allows peer-to-peer trading and acts as a guarantor so trade can be performed without currency going through the exchange. This helps eliminate much of the fees associated with trading.

Also, Cryptonex is able to offer very low trading fees of 0 to 0.001 CNX. Their deposit fees are also very low, pegged at 0.10% for fiat currency and free for crypto. One can purchase BTC, ETH, and CNX directly using a card on the website which makes it an excellent option for beginners. There are also no limits imposed on trading, nor country-based restrictions. All this applies to US users that are welcomed.

Cryptonex has already established itself as an iconic exchange for those who specialize in P2P trading as well as for fiat-to-crypto exchange. It is very easy-to-use and it has industry-standard security features including the proof-of-stake hashing algorithm. It also offers very fast verification (1 minute per block) which is 10x faster than BTC.

21. CEX.IO

CEX.IO is one of the oldest and most advanced exchanges available. It is based in the UK and was started in 2013. This means that the exchange owners are very experienced in trading matters and obviously very popular as shown by their $20 million daily trading volume according to CMC. One of their unique features is that they offer 2 services: a brokerage service that is very convenient for beginners and a very advanced trading platform for skilled traders.

Due to this, their fees vary according to the platform that one prefers to use. The brokerage option is quite expensive and charges up to 7% in trading fees. This is because CEX charges a premium to carry out trading for you. The trading platform is much cheaper and charges about 0.16% to 0.25% for makers and takers respectively. The full list of their fees is available here. Deposit fees vary for fiat currencies where wire and credit transfers are available. Limits are imposed depending on the account type, individual, verified individual, corporate, or enhanced corporate.

CEX is great for both beginners and veterans, its security record is stellar, and UI very advanced especially for the trading platform with a lot of technical information. Despite the high fees particularly with the brokerage service, it is still one of the highly-recommended platforms.

Conclusion

Exchanges vary and are always designed to attract a certain set of traders so there is no one-size-fits-all solution. That being said, it is very important for traders—especially beginners—to research on some of the most pertinent features such as fees, security, and user reviews.

It is also important to keep up to date with current happenings with the chosen platform, use a secure cold wallet when not actively trading, and never to share private keys with third parties. To cut it short and clear short, always keep on your toes!

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