Which cryptocurrency exchange is better? 2024 Latest Cryptocurrency Trading Guide
What is a cryptocurrency exchange?
The cryptocurrency exchange is a bridge connecting the fiat currency and cryptocurrency markets, an online platform dedicated to trading a variety of cryptocurrency transactions. In addition to buying and selling cryptocurrencies, users also have basic trading features such as money query, hold order, and matching transactions; virtual wallet services are also available where users can store cryptocurrencies in the exchange's wallets, as well as other financial services such as trade spreads, loans, etc. The investment needs of the user.
Top 5 Cryptocurrency Exchanges in the World
Cryptocurrencies are a new field of investment that, with institutional and regulatory systems still incomplete, will bring security concerns to everyone more or less. Therefore, if you want to invest, it is best to choose a larger exchange that will be relatively secure, because:
High liquidity often has a huge volume of transactions and an active user base, which ensures good liquidity.
Complete trading features typically offer multiple landing methods and more advanced trading features to give traders a more flexible and professional trading experience.
Asset security is more effective in protecting users' assets by adopting security measures such as multiple authentication, cold storage of assets.
Diversify the trading range of a wide variety of mainstream and popular cryptocurrencies on the exchanges to meet the different trading needs of different investors, increasing usage and volume.
5 major cryptocurrency exchanges in the world: Binance (Binance), Coinbase Exchange, OKX, Bybit, Upbit:
Cryptocurrency Exchanges | Introduction & Features | 24H TRADING VOLUME* |
Binance (Binance) | Founded in 2017, it is now one of the largest cryptocurrency exchanges in the world, covering more than 200 countries or territories (including Hong Kong), with daily trading volumes reaching hundreds of billions of dollars | Over HK$221.6 billion |
Coinbase-Exchanges | Founded in 2012, it covers more than 100 countries or territories (including Hong Kong) and offers a wide range of product services such as wallets, credit cards, deposit loans, and more. Coinbase Pro is also launched for institutional investors. | Over HK$38.8 billion |
OKX | Founded in 2014, it covers nearly 180 countries or territories (including Hong Kong); its community is highly active, actively engaging with global cryptocurrency enthusiasts, and regularly hosts various online offline events such as meetups, trading contests, etc. | More than HK$35.7 billion |
Bybit | Established in 2018, covering nearly 150 countries or territories (including Hong Kong); Focus on derivatives trading of mainstream cryptocurrencies such as futures, options, etc. | More than HK$64.1 billion |
Upbit | Established in 2017, it is the largest cryptocurrency exchange in South Korea, mainly serving Korean users; Covers nearly 120 markets or regions worldwide (including Hong Kong) | Over HK$23.7 billion |
Source: coinmarketcap * Data as of 2024.8.7 12:15, taken from the trading volume in the last 24 hours of the day | ||
Although the above 5 are the largest cryptocurrency exchanges in the world, so far they have not been licensed in Hong Kong. If you want to trade cryptocurrencies securely in Hong Kong, we recommend using a platform licensed by the Hong Kong Securities and Exchange Commission.
How to choose a platform that supports cryptocurrency trading locally?
Futu will start supporting cryptocurrency transactions from August 1, 2024, and will be regulated and double-secured by a licensed certificate holder who will be licensed as a licensed exchange. Apart from that, there are 3 major advantages:
1. Buy and sell better
Trade 0 commission, investment threshold as low as HK$80/US$10
2. Wide range of trading options
SUPPORTS 2 MAJOR CRYPTOCURRENCIES: BITCOIN AND ETHEREUM, AND SUPPORTS A RANGE OF RELATED VIRTUAL ASSET TRANSACTIONS. In addition to being able to trade cryptocurrency futures, it is also possible to trade cryptocurrency spot ETFs or futures ETFs. In addition, you can also trade stocks with concepts related to cryptocurrencies.
3. HKD USD Direct Deposit
Now, Futu will trade cryptocurrencies without having to re-open a hot wallet, without having to re-enter a private key code composed of a long string of complicated numbers, and no need to write down any other day, or if you do not need to use the currency to convert the currency to USDT for an effective transaction, you can use Hong Kong currency. Or making a transaction in USD, aligning the funds directly from the securities account to the cryptocurrency account, makes it easier and more secure to trade USDT than when you find an exchange shop.
What are the risks when looking for cryptocurrency exchange?
You may encounter an irregular exchange shop where fraud may be present during the exchange process, such as a false quote, which causes you to exchange USDT above the market price, a refund will not be available; more likely to be borrowed for illegal activities, such as money laundering or illegal foreign exchange transactions, or the risk of improper handling of funds, such as money laundering or illegal foreign exchange transactions, or causing funds to be mishandled Sealed or frozen, leaving you at a loss:
4. User-friendly trading interface
The trading interface is too complex to cause losses when the user operates or is prone to error. Making it user-friendly, user-friendly, user-friendly, easy-to-find trading information, and buying and selling paths will not only make it easy for beginners to get started, but also ensures smooth trading. The results are commendable.
In Futu, if you want to invest and crypto, you can open the Bull App→Market Stake→Cryptocurrency Aspect→Outlook Thoughts:
How to Trade Cryptocurrencies in Hong Kong
Futu Securities provides virtual asset trading services for Hong Kong certificated institutions to trade cryptocurrencies, cryptocurrency futures ETFs, futures ETFs and related securities in one place. Futu currently supports Bitcoin and Ethereum trading. More hot cryptocurrencies will continue to grow, please note.
In Futu, you only need 4 steps to trade cryptocurrencies:
![Click on any cash account, go to [Account Management], select Start Trading [Cryptocurrency]](https://blogimg.futunn.com/1723104018241.jpeg?imageMogr2/quality/100/ignore-error/1)
Step 1 Activate Crypto Trading Features
After opening an account, activate the Crypto trading function, go to the [Accounts] page, click on [Cash Comprehensive Account], and open [Account Management] in [More], [Activate Trade Varieties] in [More], and select [Cryptocurrencies] in [Unactivated].
Step 2 Assessment Test
Before starting a cryptocurrency account, a “virtual asset risk assessment, virtual asset holding limit assessment, virtual asset knowledge test”, and identity verification are required. After submitting the application, start up in about 5 minutes and a successful launch will receive a system message and message.
Step 3 Allocate funds to a cryptocurrency account
Before trading cryptocurrencies, make time to allocate funds to your crypto account. Go to the [Accounts] page, click on [Cash Integrated Account - Cryptocurrency], select [Inter-Account Funds], select the settlement currency type and enter the amount, and you can trade after your account.
Step 4 Trading
Go to [Market] - [Cryptocurrencies], select the currency for which the trade is offered, click “Trade” in the lower left corner and you can start trading. （How to Trade Cryptocurrencies on Futubull)
About Cryptocurrency ETFs
If you intend to invest in a cryptocurrency ETF, you can search for [Cryptocurrency ETF] in the search box to track more cryptocurrency ETFs. You can also learn about the size of each ETF's assets and basic information such as management fees, dividend policies, etc., on the ETF Funds page to guide your investment decisions.
For those of you who are interested in cryptocurrencies, develop your virtual currency investment journey with a secured Futu, so you can trade safely and enjoy the benefits of free money!
