Guide to make a smart choice between crypto-exchanges

In order to optimize the trading practice of Cryptocurrencies, one should be aware of prerequisites and well-equipped with the superior services offered by the exchanges, that would be highly essential. The exchanges you choose has to offer unique and wide-range of tools and technical know-hows to their clients. One has to be cautious about below aspects while choosing exchanges:

Availability of all major cryptocurrencies

The exchange should contain major digital assets in order to execute different trade strategies, such as, trading, arbitrage, swapping and for hedging. Some renowned exchanges like, Binance, Poloniex, and Bittrex etc are satisfying these needs.

Well, Binanceoffers more than 290 trading pairs and while Bittrexoffers 260 cryptocurrencies.

Most importantly, please be informed that many coins indicate lack of scrutinizing procedure for their authenticity. Quite a few coins on such exchanges have had the instance of scams and been delisted in the recent past because of the inadequate volumes.

Signing up and KYC norms: 

While signing up for some exchanges, clients are expected to furnish many information.

For instance, Bittrex requires users’ birth details, origin of domicile, address, contact details, and proof of identification. Whereas Binance only requires an email address for basic users. Usually, in cryptocurrency space, uninformed traders/investors are least bothered to share their personal information, that in turn causes obstacle to process their accounts instantly. 

While Binance users’ experience is concentrated more on tools for trading and analysis, gearing itself more toward users who are already familiar with crypto.

Flexibility for fiat currency trading:

Trading cryptocurrencies against fiat currencies at exchanges has become cumbersome. Binance is the only exchange so users will have to use at least one other exchange if they wish to take a larger position in crypto.

Liquidity options:

There have been some exchanges that prohibits the trading limits on how much one can withdraw within a time period. Some exchanges facilitate a bigger withdrawal amount. For example, Binance’s beginners are allowed to withdraw a maximum of 2 BTC per day. Free and flexible flow of liquidity option will motivate trading strategies.

Trading on the Go

Major exchanges are predominantly web-based. Unlike Bittrex however, Binance has a fully functional mobile app for Android and Windows. There is also an iOS app which is still in Beta phase. 

Currency Strength Index:FxWirePro's hourly BTC spot index is flashing at 175 levels (which is bullish), while hourly USD spot index was at -61 (bearish) while articulating at (09:45 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex