• Introduction

• Defining a crypto exchange platform

• Popular crypto exchange platforms in the market

• Characteristics to consider when choosing a crypto exchange platform

• Conclusion

• About WEEX

Introduction

Web 3, represents the world of cryptocurrency, NFTs, DAOs, decentralized finance and many more. It is a virtual universe, an alternate dimension in the Internet, where individuals connect and exchange through tokens. When we think of crypto, it relates to another type of “money” that we can transact as a form of payment or store as a form of investment. This underlying technology of blockchain has been in the market for years, and it’s surfacing above the sea level as time goes by. Just like what WEEX is conducting - a safer, faster, simpler transaction to make crypto limitless. Whether you are engaging with crypto for investment purposes or transactions, the journey begins with a crypto exchange platform. Which brings us to the question, what is a crypto exchange platform, and how do you go about choosing a suitable one?

Defining a crypto exchange platform

A crypto exchange platform is a digital marketplace designed to allow its users to buy and sell cryptocurrency on the blockchain. For instance, Binance, Coinbase Exchange and WEEX are some of the popular crypto exchange platforms in the markets, offering crypto exchange services directly through their platform without additional software or hardware required. All of the action takes place here, whereby transactions may occur multiple times daily.

Popular crypto exchange platforms in the market

1. Binance

Binance Exchange is the world’s leading cryptocurrency exchange, with the largest crypto exchange by trade volume, catering to over 100 millions of registered users in more than 180 countries. The exchange platform offers asset exchange for stable coins, Altcoins and other virtual assets. Its users can trade hundreds of cryptocurrencies on Spot, Margin and Futures market, earn interest for their idle tokens, or even trade, stake and loan NFTs on their NFT marketplace. The Binance Exchange platform is available on desktop, Lite and Pro version, and mobile version for both iOS and Android users. Bybit Similar to WEEX Exchange, Bybit was also launched in 2018, as a popular cryptocurrency and derivatives trading exchange platform. This exchange headquartered in Dubai allows its traders to trade cryptocurrency perpetual contracts with up to 100 x leverage, successfully becoming one of the widely used crypto exchanges in the world. Its key features include a wide selection of tradable assets, professional grade trading & matching engine, leverage trading, fiat withdrawals, crypto loans, NFT marketplace, copy trading and crypto debit card. This beginner-friendly exchange is accessible via desktop and mobile app, offering over 900 digital assets on its platform.

2. Coinbase

Coinbase Exchange is a cryptocurrency exchange platform established in 2012, with the core objective of allowing users to send and receive Bitcoin easily and securely wherever they are. It offers a trusted and user-friendly platform to access the broader crypto economy. Its services are available for users in over 100 counties, with 114 billion dollars of safeguarded assets, at a quarterly trading volume of 76 billion dollars. Coinbase Exchange takes a strong commitment to compliance, aligning to its mission of being the most trusted crypto platform via its Compliance Program that adopts the best practices from traditional finance and combines it with innovative compliance technology to bring its services a step further. As compared to their competitor WEEX, they have compliance operations with clear licensing from US MSB, Canadian MSB, and Saint Vincent SVGFSA. For users that are interested in trading crypto on Coinbase, simply set up an account via their website and they will provide you with a hosted crypto wallet to store your holdings safely.

3. Crypto.com

Crypto.com is a crypto wallet service provider and cryptocurrency exchange that offers its services in 90 countries, powered by a mission to accelerate the world’s transition to cryptocurrency. Crypto.com distinguished itself from its competitors as the world’s premier crypto trading platform for over 250 cryptocurrencies, also a leader in regulatory compliance and security, trusted by more than 80 million users worldwide. The exchange platform is available for download on Apple and Google Play store, where users can start their crypto journey by buying crypto, price alerts, recurring buy, and on-chain staking. These services are also available on the WEEX mobile trading platform in a beginner friendly interface.

4. WEEX

WEEX Exchange is an initiative and innovative cryptocurrency exchange that specialises in derivatives trading, offering first-rate service to a global base cliente since 2018. Their services include Its users are able to enjoy a fruitful trading experience through a wider variety of trading pairs: BTC/USDT, ETH/USDT, LTC/USDT, TRX/USDT, DOGE/USDT, BCH/USDT, and ETC/USDT. The exchange platform stands out from the crowd through its compliance operations, smooth experience, and protection fund that provides a safe and reliable trading experience for all its users. In addition, WEEX Exchange offers copy trade from over 5000 professional traders, making crypto trading swift and easy. With the latest edition to their services - WEEX Future Pro, users can enjoy trading at the lowest fee for Maker at 0 and taker at only 0.06%. WEEX Exchange is accessible via mobile and downloadable in iOS app, App Store, Google Play and Android APK.

Characteristics to consider when choosing a crypto exchange platform

Level of security

Taking into consideration the decentralized and anonymous nature of the crypto universe, it is essential for users to stress on the security level of a crypto exchange platform. Through accessing the necessary aspects that safeguard your assets, it ensures that your tokens stay in your wallet, and away from hackers. These security aspects include but are not limited to, two-factor authentication (2FA), cold storage for tokens, IP whitelisting, SSL/TLS encryption, and withdrawal confirmation. Crypto companies like WEEX, implements dual risk control guarantee mechanism to ensure a safe and reliable trading experience. Other than that, WEEX has a conservation fund of 1,000 BTC as a precautionary measure and an additional layer of protection for all of its users. Users may also look out for regular security audits and detailed account activity monitoring allows easy detection of unusual or suspicious activities. Hence, users can take precautionary action when any suspicious account activity arises, such as freezing their account can be taken to protect their funds.

Fees incurred

While exploring crypto exchange, users will need to understand the fee structures associated with each platform. Some of the basics include trading fee, withdrawal fee, deposit fee, maker fee and taker fees. Users will encounter service fees when they deposit or withdraw their funds as a small token of service for the exchange platform. Besides that, trading fees for maker and taker apply at different rates or even with a cost for some. In some cases, crypto platforms offer a tiered fee structure based on the user’s trading volume, providing additional cost benefits to high-volume and high-frequency traders. Hence, keeping the users motivated to trade within the same platform and get the best bang for their buck.

Ease of use

Looking to get that intuitive and seamless experience trading crypto? This is where the app layout and navigation comes into place. A user-friendly interface can greatly enhance the process of buying, selling and managing your cryptocurrency portfolio. Users may look out for customizable dashboards, real-time market data, mobile responsive features to prioritise the trading experience, letting you spend less time on figuring out how to use the platform, and more time on researching and trading. Following the pattern of user intuitive experience, WEEX has put into effort to create their desktop and mobile platform to be minimal, and easy-to-use.

Supported chain and tokens

The supported chain and tokens play an important role for your cryptocurrency portfolio, especially when you are interested in investing in new blockchain projects, or finding the next token that will skyrocket. The well known tokens like Bitcoin (BTC) and Ethereum (ETH) are supported by almost all platforms, whereas examples of altcoins like Dogecoin (DOGE), KuCoin (KCS) and Tether (USDT) are only supported by some platforms. On the sideline, blockchain networks or chains is also something to look into before getting into a crypto exchange platform. For instance, ERC20, BRC20 and TRC20 are someof the most used blockchains. Before putting your funds into a crypto exchange platform, look into their supported chains and tokens to ensure an aligned investment preference and opportunities for portfolio diversification in the ever changing world of crypto.

Customer support services

Assistance whenever and wherever you need it can come in handy when you are facing emergencies like theft or making a mistake of transacting a large sum to the wrong wallet address. For frequent traders, customer support services offering multiple channels of communication, such as live chat, email, or phone support, would be a beneficial point to your trading journey. Some of the crypto exchange platforms even offer 24/7 customer support services as their advantage to enhance trustability and reassurance to its users. Thus, this contributes to a smoother overall trading experience in the long run.

Refer & Earn with WEEX Affiliate Program

Crypto trading can be a long-term investment that requires skill, patience and a golden opportunity. But, who has time for that? This is where you can opt to join the WEEX affiliate team and leverage your network to earn top-tier commission of up to 70%. The affiliates can receive additional perks with the latest data and market insights daily to assist in your personal tradings, and invitations to exclusively customizable promotional campaigns with enormous prize pool to be won. Facing any issues? Utilise your dedicated account support with 24/7 access anytime, anywhere. Hop aboard and be one of the champions in promoting a safe and reliable trading platform!

Conclusion

Being the future of the internet, Web 3 can be an intimidating yet rewarding place to be. It is utmost important that you start with the right trading platform and end with the right crypto trading practices. Having control over your tokens, data and identity for a safe and seamless trading experience. With careful evaluation and selection of security measures, fee structures, user interface, supported network and tokens, and customer support services, you will be able to make informed decisions that ensure a delightful crypto trading experience.

About WEEX

Introducing a cutting-edge crypto trading platform - WEEX Exchange. A distinguished cryptocurrency exchange platform established in 2018, headquartered in the financial hub of Singapore. The company specialises in derivatives trading, which is the trading of financial instruments that derive their values from underlying assets, such as stocks, bonds, or commodities. WEEX Exchange allows its users to seamlessly integrate derivatives trading, linking users to a variety of trading pairs including BTC/USDT, ETH/USDT, LTC/USDT, TRX/USDT, DOGE/USDT, BCH/USDT, and ETC/USDT, with more to come in the future. WEEX has currently obtainedregulatory licences from the MSB in the United States, MSB in Canada and St. Vincent SVG FSA. The platform is also well recognized for its innovative features and user-centric design, catering to the needs of both novice and experienced traders. It is also a joint venture with some of the business giants and established crypto businesses like - Binance, Bloomberg, BTC.com, CoinGecko, yahoo!, 非小号, Coinspeaker, Foresight News, Investing.com, 金色财经, KingData, ChipPay, The Times, TScientific and TradingView. The WEEX application is available to download via iOS app, App Store, Google Play and Android APK. Stay updated with the latest news and promotions via Twitter, Telegram, Medium, Facebook, Discord, LinkedIn and WEEX blog. Sign up for a WEEX account today! Happy trading!