Just like all commodities, we need good platforms to trade our crypto assets like Bitcoin and other coins. Sometimes, prices go up within a second and you find yourself stuck when trying to trade your assets due to complications within some exchanges.
As an investor, I evaluate exchanges based on their protocol and what they're accomplishing with their platform.
– Are they user-friendly?
– Can I get help whenever needed?
– Are they secure enough?
– Do they have a solid team?
Here are some of the exchanges I trade at:
Bittrex: It’s one of the safest exchanges in my opinion. But because I am on mobile, the user experience is not so solid. it’is a US-based exchange headquartered in Seattle, Washington. It’s been around since 2013 It was funded by 2 ex Microsoft employees.
Gate io: I used to trade on Gate, but recently, they canned Canadians so, that’s out.Not much is available about the team. What I liked about Gate is that it is secure, mobile friendly and intuitive. The thing is Gate was named by SEC, in the list of crypto exchanges under investigation. Along wth Binance. This raises big alarms.
Binance: I don’t think much is to be said about Binance. In addition to the excellent user experience, mobile friendlines, high liquity, technically sound team, one thing Binance has that I have not seen with other exchanges is their community. If you have been on telegram, you know what I mean. I also like that they are planninhg to go decentralized soon. Rumor has it that plans for beta testing of the DEX is coming in 2019.
KubitX: This one is a new exchange that I have come across, it is an up and coming exchange growing out of Africa. They are serious contanders for the fastest exchange. Their exchange will be able to proces over 12,000,000 trades per second, which should make it the fastest exchange out there,
What sets them part is how they are going about acquiring their user base. They are going on the ground WIth their Global channel ambassador (GCA) program, they have a locally based rep in every country in Africa, and each GCA works with channel ambassadors to bring awareness about blockchain technology even to remote locations. They are going after Africa because it is under served when it comes to cryptocurrency and blockchain technology. Their CAs and GCAs are holding meetings and discussing cryptocurrencies and blockchain in their native tongues. They seem to be really pushing the barrier of what it means to do drive adopton and financial integration. I think it has the opportunity to be a top exchange if they can pull it off.
Sorta like what Binance was to China during the crypto crackdown of 2017.
If you remember, Binance was basically the only exchange that didn't get shut down at the time and this helped them become the giant that they are today.
I see many parallels between Binance and Kubitx in that sense. Africa is looking like it’s going to be the next giant to enter the blockchain space. Kubitx's strategy of working with locally situated representatives to promote blockchain education and user adoption could be key to help them hold a monopoly in the African market.
They did a private sale recently and today they have announced that their beta is ready for testing. They are looking for testers. You can read more about that in the link below, if you want to check them about.
I know this is my opinion only, I would like to know, what about you guys?
What do you look for before deciding if an exchange is not scammy?