Global cryptocurrency exchange

Global Cryptocurrency Exchange

Cryptocurrency is all the rave these days. So, if you are looking to start buying or selling crypto, you need a cryptocurrency exchange. A global cryptocurrency exchange is where you get to have all the tools to help you buy and sell all kinds of digital currencies like Bitcoin, Dogecoin, or Ethereum.

It gets easier for you to deal in all kinds of digital and fiat currencies with a cryptocurrency exchange. A cryptocurrency exchange works as an intermediary to facilitate transactions between buyers and sellers, charging some premium on each transaction.

So, if you are looking to invest in digital and fiat currencies via a cryptocurrency exchange, there are some factors that you may need to keep in mind. First, you need to know how the exchange handles pricing options, withdrawals, and overall transactional security.


What are the different kinds of cryptocurrency exchanges?

To fully understand how cryptocurrency works. You first need to know the different kinds of cryptocurrency exchanges.


Centralized Exchange

A centralized cryptocurrency exchange has a third-party relationship with the buyer and seller. Such types of exchanges are mostly private companies with different cryptocurrency platforms. Since such exchanges are centralized, you need to register with them. Hence, making them more secure in comparison. It is the reason why most people trust centralized exchanges with the dealings of cryptocurrency. Following are some advantages and disadvantages of centralized exchanges.


Advantages of Centralized Exchange

#1 Easy to understand

Centralized exchanges offer an easy-to-understand and user-friendly solution for transactional dealings between buyers and sellers. Users make their personalized accounts on the centralized exchange, which they use for making transactions on different websites and apps.


#2 Authenticity

The main reason why many people prefer using centralized exchanges is that they are far more authentic compared to decentralized exchanges. In addition, since people deal with a reliable central authority for dealing with their transactions, they feel much more at ease.


Disadvantages of Decentralized Exchange

#1 Risk of Hacking

The major drawback of using a centralized exchange for cryptocurrency transactions is the great risk of hacking. Since all the servers are their own, and if one server compromises, there is a great risk of the entire network going down, causing a leak of sensitive data.


#2 Transaction Fee

Since there is a third party involved in all your crypto transactions, it may charge a certain amount of fees. A transaction fee can amount to a significant figure, especially when with large transactions.


Decentralized Exchange

On the other hand, decentralized exchanges allow the buyer and seller to deal directly without using any third-party services. Thus, there is no central point of control. It rather follows a direct peer-to-peer design for dealing. Due to the disadvantages of centralized exchanges, some people prefer decentralized exchanges.


Advantages of Decentralized Exchange

#1 No Hacking Risk

Since no single party has full control over your assets, your account is less likely to get hacked. Also, there is no single platform where all your transactions get done, so even if one computer gets compromised, there is no risk of other computers going down the same fate.


#2 Lesser or no Risk of Market Manipulation

There is no third party involved in the trading using decentralized systems. Therefore, there is a lesser or no risk of market manipulation. In addition, it helps to keep users safe from fake trading scenarios.


#3 Anonymous

There is no need for any personal details when trading using a decentralized exchange. Moreover, it gives you the freedom to remain anonymous when trading as there are no rules or no central regulating body running the operation.


Disadvantages of Decentralized Exchange

#1 Too Complex

If you want to trade via a decentralized exchange, you need to get some information beforehand. Since you will be dealing with all the trading, you need to know your way around certain policies and procedures.


#2 It does not Work with Fiat Payments

You cannot use a fiat currency for trading in digital cryptocurrency. Hence, it gets very difficult for those trading in digital currencies to get in the game for the first time.


#3 Liquidity problems

Centralized exchanges control about 99% of cryptocurrency transactions. It shows that a huge chunk of trading volume comes under centralized exchanges. Therefore, decentralized systems often face liquidity problems.


Top 5 Cryptocurrency Exchanges

Top 10 cryptocurrency exchanges

We have listed down below the top 10 cryptocurrency exchanges in 2021 according to their sales volume.

#1 Binance.US

#2 Coinbase

#3 Kraken


#5 Gemini



Binance is one of the most popular global cryptocurrency exchanges. It charges up to a 0.1% fee on a single transaction. You get the freedom to buy, sell or exchange cryptocurrency. Moreover, you also get the option to earn an interest of 0.5-10% if you stalk your bitcoins for some time. Binance has about 50+ coins available for trade purposes.



Coinbase is yet another famous name in the world of cryptocurrency. It is a perfect option for those who are new to cryptocurrency. Besides, its easy procedures make it an ideal pick for beginners to learn how things work. It trades in 100-odd tradable cryptocurrencies and is one of the safest platforms for cryptocurrency trading. It charges about $0.99-$2.99 transaction fee on dealing with amounts till $200. The only drawback of Coinbase is that it doesn’t deal with Dogecoin. But, if you are new to the game of cryptocurrency trading, then there is no better option than to opt for Coinbase.



Kraken is also one of the best global cryptocurrency exchanges, trading in about 50+ cryptocurrencies. You can either opt for any of the three packages, starter, intermediate, and pro, offered by Kraken to start trading. It is a solid option for cryptocurrency due to its low transaction cost of between 0.9%-1.5%. offers to trade in more than 70+ cryptocurrencies and also offers many different attractive perks. These include crypto rewards and debit cards for easy accessibility. You can even link your crypto wallet to your normal bank account for the transfer of funds. Another reason for its popularity is its super low fees that come between 0.04%-0.20%.



Gemini is yet another popular cryptocurrency exchange for traders in the US. It deals in about 20 different cryptocurrencies and over 25 fiat currencies. Due to Gemini’s ease and convenience, it is an ideal option for beginners to learn how things work in the cryptocurrency world.

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