The cryptocurrency market is undergoing an active transformation, and the number of platforms for trading digital assets is constantly growing. Today, a crypto exchange is no longer just a service for exchanging coins, but a full-fledged financial ecosystem. Your choice determines not only the convenience of the interface, but also the security of capital and the profitability of operations. UNN has prepared a detailed guide that will help you choose a reliable platform for working with virtual assets.
What types of crypto exchanges are there?
Before opening an account, it is important to determine the type of platform that suits you:
- Centralized exchanges (CEX). The most popular format. Such platforms act as intermediaries between buyers and sellers, provide high liquidity, and are responsible for the technical infrastructure. They are easy to use, support operations with hryvnia or dollar, and offer a wide range of products: from spot trading to crypto deposits. Examples: WhiteBIT, Binance, Coinbase.
- Decentralized exchanges (DEX). The choice for those who seek complete anonymity and control. Trading here takes place directly between users through smart contracts, and assets are stored in the owners' personal wallets. However, working with DEX requires experience, they usually do not support national currencies (fiat) directly, and have limited liquidity. Examples: Uniswap, PancakeSwap, Curve Finance.
Key selection criteria
To minimize risks, evaluate the platform according to the following parameters:
- Reputation and transparency. Give preference to platforms that have been operating in the market for more than 3–5 years, have public management, and open registration data.
- Security. This is a comprehensive indicator that includes:
- Liquidity and trading pairs. The higher the trading volume on the exchange, the faster you can make a deal at a favorable price without "slippage."
- Commissions and deposit/withdrawal of funds. Pay attention not only to the percentage of trading volume, but also to fees for depositing/withdrawing funds. It is important that the platform offers convenient deposit methods: bank cards, P2P transfers, or payment systems.
- Technical support. The availability of an operational "live" chat with specialists instead of limited bot instructions is a critically important factor in case of difficulties.
Additional functionality for passive income
Modern exchanges offer tools for generating profit without active trading. One of the most popular is crypto deposit. You transfer assets to the exchange for a certain period and receive a reward. The most predictable option is deposits in stablecoins (e.g., USDT), whose exchange rate is pegged to the US dollar. In particular, on WhiteBIT, an annual plan in USDT can bring up to 18.64% per annum.
Summary: When choosing a platform, focus on time-tested companies that care about protecting your funds. Although the choice of specific tools is an individual matter, the functionality and security of the exchange become the foundation of your financial success.