What are cryptocurrency exchanges?
Cryptocurrency exchanges are gateways to the crypto world.
They allow you to convert your fiat currency into a wide range of cryptocurrencies.
Most are very similar in terms of function, but some are more suited to beginners, and some are more suited to pros.
Using a simple exchange that’s perfect for beginners is the best way to get your crypto adventure started.
These types of exchanges makes it as simple as possible, which gives you the confidence you need to buy crypto in style.
Others are packed full of advanced trading features, graphs, and systems.
However, the best crypto exchanges offer both a basic and a pro platform, allowing you to move through the ranks and dabble with more advanced features as you get used to crypto trading.
Some crypto exchanges will have licenses and some won’t.
Some will list every cryptocurrency under the sun, some will have just a few.
So, to make your life simple and easy, we’ve taken the time to sign up, deposit and trade at every cryptocurrency exchange listed here at CryptoMeister.
In our guides, we walk you through every step of the registration and trading process, giving you the confidence that you need to manage on your own.
We even share tons of pro tips that will take your crypto trading game from rookie to pro in a matter of hours.
At CryptoMeister, we make it as easy as possible for you to understand how crypto exchanges work so that you know exactly what you’re getting yourself into.
What makes a good crypto exchange?
Cryptocurrency exchanges come in all shapes and sizes, so picking the best of the best can be a daunting task.
When we’re looking for a good crypto exchange, we keep an eye out for a few key factors.
First up, we like to make sure that an exchange has a legal understanding with the regulators in our jurisdiction.
This protects you as a crypto trader as regulators won’t suddenly turn around and block the exchange, as we saw with Binance in the US.
Next, we take a look at the cryptocurrencies an exchange lists.
If you want to buy a specific cryptocurrency but an exchange doesn’t have it, you’re wasting your time signing up.
Always check out the cryptos that an exchange offers and compare it to your list of planned buys.
We list all these currencies in our reviews, saving you time!
Finally, the best crypto exchanges offer you the ability to trade as a beginner with a simple platform as well as offering a pro platform for more advanced traders.
This gives you platform longevity, meaning that you don’t need to find a new exchange once you become more confident and want to take up advanced trading.
Again, we’ll tell you if a particular exchange has a pro exchange alongside a basic exchange so that you can save time and hassle later down the line.
This is how we rate crypto exchanges
When we review a cryptocurrency exchange, we will give it a rating out of 5 stars.
The more stars, the better we think the exchange is.
But, how do we decide what rating an exchange deserves?
Well, the answer is fairly simple – we grade them based on features they have and how reputable they are.
We rate crypto exchanges based on the following criteria:
- Range of cryptocurrencies
- Ease of use
- Security and history of security
- Quality of support
- Range of fiat currencies
- Range of deposit methods
- Is verification necessary?
- Ease of verification (if required)
- Trade volume and market depth
As more features become the norm at crypto exchanges, we’ll update reviews to include them.
Whether that’s going to be a non-fungible token (NFT) marketplace, access to decentralized finance (DeFi) or something else, we’ll make sure to keep you up to date!