Thinking of joining the crypto clan but can’t decide on the exchange medium? It is indeed an important decision to make as it will determine your earnings in the long run.
A digital currency exchange is a platform on which you can trade with multiple cryptocurrencies. Make sure you invest through the right place so that your money doesn’t just vanish. Currently, people trust these three crypto exchanges to be among the most secure ones in 2021.
Redot
Redot crypto exchange emerged recently in 2019 in Estonia. But it was quick to spike some popularity as it has been consistently moving up the crypto space to become the most recognized exchange platform. Because of its high-security measures, investors are more inclined towards it.
A distinct feature about Redot is it provides a powerful infrastructure architecture that can handle the heavy trade volume and a highly secure network to trade, deposit and withdraw digital assets. Redot can be considered an accountable exchange app as it was designed and found by the leaders in the industry of finance with in-depth knowledge in virtual currency.
Trading facts
You get to trade in major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Atlant (ATL), Tether (USDT), and Litecoin (LTC). Trade pairs are available between Ethereum and Bitcoins and, each of them with USDT.
Redot conducts over 13k plus trades in a single day.
The transaction cost varies between 0.05 and 0.15 percent. It depends on trade volume and payment mode.
Security features
Redot has ISO certifications in Information Security Management Systems (27001:2013) and Quality Management Systems (9001:2015) that cover a wide variety of activities, and a license from the Estonian Financial Intelligence Unit for a comprehensive spectrum of crypto custody and crypto exchange activities.
Redot has offline cold storage facilities for keeping the assets protected from cyber attacks all the time.
It runs a monthly audit to keep a check on fraudulent acquisitions of cryptocurrencies.
Other features like 2FA and U2F, two-factor authentication are also present.
Availability
Since Redot is a relatively new launch, it is only available in Europe. It has intentions to expand in the near future.
Pros
- Robust infrastructure
- Multi-lingual support team available for 24/7 hrs.
- Get occasional rebates.
- High liquidity and transparency
Cons
- No fiat currencies available
Coinbase
A very popular exchange site running over 100 countries, Coinbase is the most widely accepted Crypto Exchange Platform. Coinbase is a trusted exchange by many major investors. Even new investors start with Coinbase as their no-brainer option. It started in 2012 when the popularity of cryptocurrency was gaining momentum. Now it also has Coinbase Pro under its hood, which provides more robust and extensive visual and executive experience.
Coinbase enables investors to buy, sell, send, receive and exchange from a large pool of cryptocurrencies. It runs on both Android and iOS devices.
Trading facts
- Coinbase has the biggest base of crypto coins. It supports more than 50 types of cryptocurrencies including, Bitcoins(BTC), Bitcoin Cash(BCH), Litecoin(LTC), Uniswap(UNI), Ethereum(ETH), and many others. You get a ton of options to start trading with small-value currencies if you don’t wish to make a big investment right away.
- The transaction fee varies from 0.5-4.5%. The convenience fee for all U.S based banks is 1.49% and, other mediums like PayPal are 3%. ACH transfers are free.
- Through Coinbase Pro, you get additional charting functionalities, crypto-to-crypto transactions, and 60 plus crypto pairs.
Security features
Coinbase provides a highly secure environment for traders, so you would not have to worry about your money getting lost. It has a password-protected built-in wallet to keep your digital assets safe.
Additionally, with its offline storage option called cold storage, keeping the hackers off the bay.
Coinbase also provides insurance up to $250,000 for dollars deposited in the exchange.
Availability
Except for Hawaii, all other U.S states have users of Coinbase. Being the largest exchange network, it is available in South America, Europe, Oceania, Africa, and Asia.
Pros
- Extra safety for stored assets
- Clean and simple user interface
- The site features are beginner-friendly
- Free Bitcoins on signing up
Cons
- Convenience is high compared to other exchanges.
- Customer service is limited to email.
Gemini
Gemini is another U.S based crypto exchange platform by the company Gemini Trust Co., LLC. Gemini is accepted and trusted worldwide because it is based on basic concepts of security and liquidity. Gemini enables both its private and commercial customers, a platform to buy, trade, and store, withdraw digital currencies in a regulated and safe environment.
They have user-friendly features across, which makes it a perfect trading app for hardcore traders and casual traders.
Here’s a little side story. Gemini was found in 2015 by the famous twins Cameron and Tyler Winklevoss who were classmates of Mark Zuckerberg in Harvard. They sued him over ownership of Facebook that ended with a $60 million settlement. They used this money to buy Bitcoins and other cryptocurrencies and realized its potential business capabilities. It gave birth to the exchange platform, Gemini.
Trading facts
- Gemini supports trading over 34 cryptocurrencies including, all large to smaller coins like Bitcoins(BTC), Ethereum(ETH), Chainlink(LINK), Zcash(ZEC), Litecoins(LTC).
- It has some convenient trading options for market orders and limits orders that will help you attain the best market price.
- It charges a convenience fee of 0.5% along with a transaction fee. The rate reduces for high-volume traders.
- Trading minimums: Trades in Bitcoin start at 0.00001 BTC, while Ethereum trades start at 0.001 ETH.
Security features
Gemini holds a license issued by the New York State Department of Financial Services (NYDFS) and has connections with many NY-based banks for holding digital assets of customers.
It has features like Hot Wallet, KYC for users, Two-factor authentication, whitelisting approved addresses, and other cybersecurity measures.
Availability
Gemini is available all over United States, Europe, Asia, Oceania, and Africa. You can access it through both Desktop and Mobile app.
Pros
- Highly secure
- Availability of API Keys
- Opportunity to earn extra money through various programs
- Great 24/7 hrs Customer Support with Live chat options
Cons
- The fee structure is complex and high compared to other exchanges.
- No Margin or Short Trading facility.