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Exchanges allow you to trade your Bitcoin, Ethereum and often fiat for alternative coins. Using an exchange is one way to obtain coins and tokens and also often used to benefit financially from the variations in prices between trading pairs and between different exchanges. This is a volatile and speculative market and it is easy (believe me, I know) to see a coin's value go to close to £0 in just a few minutes. :(
I am not a financial adviser. My advice is do your own research and never risk more than you can afford to lose.
There are all kinds of exchanges available. Some are centralised in that your funds are kept in a 3rd party's "hot" wallet meaning they are more vulnerable to a hack. Some are decentralised in that once the smart contracts are set up, there is no third party involved - you deposit funds, set the contract parameters (e.g. buy or sell prices) and then launch the contract. Commission fees also vary across the platforms as do features such as ability to set automatic stop loss or limit orders. Below are a few that I have tried and don't mind putting my name to - although, as always - please do your own research and due diligence! But good luck and happy crypto!!
Binance Jersey builds on the technoloy of the Binance trading platform, specialising in the fiat-to-crypto trading space enabling Bitcoin and Ethereum to be purchased using £s and €s.
BitFinex offers three main functions - it is a Bitcoin, Litecoin and Dashcoin to fiat exchange; a margin-trading exchange and a liquidity provider. There are a number of features available that expand the financial positions you can take - for example the ability to short Bitcoin via margin trading.
BitMart is a multi-cryptocurrency exchange officially registered in the Cayman Islands. It offers trading pairs such as BTC/EOS, BTC/ETH, BTC/XLM, BTC/MOBI, BMX/BTC, BTC/ABT, and BTC/VEN.
As of December 2018, Coinbase offer USD, GBP and EUR to BTC trading and have publicly stated their plans to add other pairs as and when banking arrangements in other jurisdictions are secured. With the seamless integration of wallet and exchange features Coinbase have rapidly increased their trading volume and provide decent liquidity on low spreads. Announcements have been made to add up to 30 of the leading crypto coins and tokens to the wallet.
Brought to you by Bitfinex, Ethfinex is a cryptocurrency exchange focused on ERC20 compatible tokens. The platform allows for trading and discussion of ERC20 compatible tokens and ethereum-based crowdsales, making it an information and investment hub rather than a simple exchange. Ethfinex features its own token, the Nectar tokens (NEC).
Ethfinex is building a hybrid trading and discussion platform for Ethereum tokens. Ethfinex provides users with the option of trading on a centralized or decentralized version of the platform, connecting order books to ensure a liquid trading experience. Market makers on Ethfinex are incentivized to use the platform through the Nectar (NEC) token, rewarding traders with a stake in the platform.
KuCoin is a multi-cryptocurrency exchange with Service Centers based in China. KuCoin offers trading pairs such as BTC/BCH, BTC/DASH, BTC/NEO, BTC/ETH, BTC/RDN, BTC/LTC, BTC/CVC, BTC/KCS, etc. and returns a percentage of the day's trading in the form of each currency traded - the amount received is based on the number of owned KuCoin Shares (KCS).
LATOKEN is a one-stop multi-asset trading platform. LATOKEN is building the first decentralized exchange based on DAG technology (directed acyclic graph) that allows unprecedented trading volumes of up to 100,000 transactions. At the moment, LATOKEN exchange offers trading pairs such as ETH/LA, VEN/LA, SNT/LA, WTC/LA, AION/RDN, ETH/POWR, RDN/LA, and more.
TradeSatoshi is a multi-cryptocurrency exchange with Service Centers based in London. TradeSatoshi offers trading pairs such as BTC/BCH, BTC/DASH, BTC/ETH, BTC/LTC, BTC/BTCZ, BTC/BCD, etc. It also provides users with cloud storage, two-factor authentication, live backups, and encrypted wallets.
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