Bitblinx Comes ideal if you’re someone new to Crypto and has gained some ideas in trading cryptocurrencies. The chances are that you are looking for the best Crypto Exchange to trade. You also probably know well that finding the perfect Exchange isn't going to be a walk-in-the-park.
We thought the same until we found Bitblinx Exchange. There are so many Cryptos Exchanges where you could trade Cryptos. So much so, that it is hard to find the right one for us.
This post, will not only give you some tips you need to consider when selecting a Cryptocurrency Exchange but it will also review the Bitblinx Exchange, a cryptocurrency trading platform you ought to consider if your target is to make profits as you minimise your exposure to the risks involved in this industry.
Just as you wouldn’t buy a financial instrument like a stock or bond from a supermarket store, you also can’t just walk into a shopping mall and ask for cryptocurrencies. There are specialised online marketplaces called Cryptocurrency Exchanges where sellers of these currencies offer them for sale. They are digital platforms that enable customers to trade currencies or digital assets for other assets.
Let's say John wants to buy some coins:
There are two kinds of orders that you can make on Cryptocurrency Exchanges, and there is one of two categories you fall in when you make any of those orders.
So put, Cryptocurrency Exchanges are platforms that connect buyers with sellers. However, not all cryptocurrency exchanges are built the same way so before you invest your hard-earned cash on any Crypto Exchange here are some factors to consider first when selecting a Crypto Exchange:
What are the most important factors to consider when choosing the best crypto broker in the market? Is Bitblinx the best crypto broker? Keep reading.
Cryptocurrency businesses are generally unregulated and don't require Government approval to operate, but if a regulatory authority has registered a Crypto Exchange's activities, it minimises the risk of managerial misconduct. Bitblinx, for example, is a regulated Crypto exchange.
Prior to being issued an operational license, the business is audited and a background check conducted on its directors to ensure they are suitable to run it.
So if an Exchange has passed this test and received some Government endorsement, there is confidence that the directors have been held accountable to uphold the highest standards of protecting their customer's investments. Such an exchange is also more likely to navigate future regulatory adjustments that would otherwise wipe out unregistered Exchanges.
It is worth investing your money in the best crypto exchange if a Government Authority officially recognises it.
Even if the internet is free, openly accessible by anyone on earth, not all exchanges are legally permitted to provide their services in every country.
Depending on your nationality or where you reside, you may be restricted by some exchanges from accessing their functions.
Choose the best crypto Exchange whose services you are illegible to access.
The type and level of security procedures put in place by the exchange are essential in ensuring that your investment is safe.
The best crypto exchange will keep your data, transactions, and wallet secured or at least make an effort to ensure them under all circumstances.
The most basic security safeguards to look for in a good Exchange are:
When your hard-earned investment is at stake, no chances can be taken with the security of the Exchange, so choose a cryptocurrency exchange that takes its security seriously.
When you are new to the world of crypto, you might find it unusual for an exchange not to have fiat currency paired assets like BTC/USD. This is because most crypto Exchanges pair Cryptocurrencies against other cryptocurrencies.
When you are looking for the best Crypto Exchange from which to make a profit from, don't just look for an Exchange that has many trading pairs.
Instead, look for one that has the most profitable trading pairs. It is not about the number of coins listed by the Exchange, but rather the quality.
The best and most profitable currency pairs are the currencies paired against high-volume/highly Liquid cryptocurrencies like Bitcoin, Ethereum and some stable coins like USDT, EURS. In the Crypto market.
Bitcoin and Ethereum are by far, the most preferred quote currencies, against which most cryptocurrencies are paired. This is because if you have Bitcoin or Ethereum, it isn’t hard to trade into and out of any other cryptocurrency.
No one likes to get overcharged. For every trade you are going to make on an exchange, it’s vital that you know in advance what you’ll be charged for each trade. Otherwise, the Cryptocurrency Exchange will keep taking its cut while your investment keeps shrinking.
|Deposit fee||0||0||BTC:0.0004||0||0||BTC: 0.001||0||0|
|(30 Day Volume = 50 BTC)Maker/Taker Fee||0.05%||0.1%||0.200%||0.25%||0.075%||0.25%||0.08%||0.08%||0.07%|
|Withdrawfee||0||BTC: 0.0005||BTC: 0.0004||0||0||BTC: 0.001||0||BTC: 0.0004||Fees vary|
|ETH: 0.01||ETH: 0.00135||ETH: 0.01||ETH: 0.01|
There are mainly three types of fees an Exchanges deducts from your account, namely– deposit, transaction, and withdrawal fees.
The best crypto exchange:
If you want to make big profits, start by incurring fewer expenses.
Stay away from Exchanges that ask for regular maintenance fees, massive withdrawal & deposit fees, large spreads, unfair margin rollover fees, or account verification and administration fees.
If you don’t have any Bitcoin before joining an exchange, it is crucial to find ways of converting your fiat currency into Bitcoin first. This is because the majority of Cryptocurrency exchanges don’t accept Fiat deposits.
The few Exchanges that do accept Fiat payments also have varying transaction timeframes. Some process fiat payment instantly, while others take days or even weeks to process bank-transfers.
Such delays could hinder you from snatching trading opportunities that occasionally present themselves at the right time on the exchange.
Some exchanges have complex systems and layouts that are difficult to navigate and operate. If you are new to crypto trading, you could find yourself wasting more time learning the platform than making trades.
The best Cryptocurrency exchange is:
Good exchanges are exchanges that give good user-experiences.
Your time is valuable when you are trading cryptocurrency. Whenever issues arise in the course of your trading, you don’t want to spend long hours waiting for customer support to resolve it.
The best crypto exchange must have an excellent and responsive Customer Support service. It will always attend to your issues on time. This way, more of your time and energy is dedicated to trading than troubleshooting.
Find an Exchange whose Support service is reachable and can tolerate your dumb questions but also respond to your more complex ones, as well as. Bitblinx responded in less than 3 minutes, which is appreciated.
Their Chat Bot also offers ready-made answers for general and FAQ questions. Only the best crypto exchange will offer such useful services.
The best crypto exchange will offer the best. Bitblinx App is a new tool any trader can use. This facilitates trading anywhere you are, without the time and place constraints that some users experience with other crypto exchanges.
In light of the above eight factors to consider when choosing a Cryptocurrency Exchange to trade on, we joined Bitblinx Exchange and here is what we learnt about it.
Bitblinx Exchange is a Cryptocurrency trading platform established in 2019. It is registered in Estonia (company registration number 14753654) located at Harju maakond, Tallinn, Lasnamäe linnaosa, Punane tn 56, 13619
If you don't reside in any of these countries, then you are not eligible to buy and sell Cryptocurrencies on Bitblinx Exchange.
Afghanistan, Algeria, Bangladesh, Bolivia, Democratic People’s Republic of Korea (North Korea), Ecuador, Ethiopia, Iceland, Iran, Kyrgyzstan, Macedonia, Morocco, Nepal, Pakistan, Qatar, Saudi Arabia, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, and the USA, Vanuatu, Vietnam, Yemen, Japan.
Here are some Security measures Bitblinx has implemented. This is evidence Bitblinx is the best crypto exchange:
As long as Bitblinx maintains these and more security safeguards that are compliant with the Security industry’s best practices, it is a safe Exchange to use.
Currently, Bitblinx Exchange offers 19 cryptocurrency pairs to trade and is continuously working on expanding the list.
Bitblinx exchange does not charge for depositing or withdrawing from the exchange. The exchange uses a maker/taker model and charges a fee for every transaction made.
The maker and taker fee depend on the trader's monthly trading volume and the type of cryptocurrency they are trading, but the Maker fee varies between 0.012% to 0.02% while the Taker fee varies between 0.02% to 0.05%. Here is a detailed breakdown of the Bitblinx Exchange Fees.
Currently, Bitblinx accepts deposits and withdraw through all Cryptocurrencies supported on the platform namely and also FIAT: Bitcoin, Ethereum, Bitcoin Gold, Litecoin, DASH, Bitcoin SV, Bitcoin Cash, GTFortuna, GTPlus, USDT, Tether, XRP, Stellar, Stasis
The Exchange has launch fiat deposits and withdrawals through advcash and also bank transfers.
The trading platform's simplicity makes it easy for beginner traders, and advanced traders to navigate and operate. Gettingd and executing your trades is as easy as Step 1, 2 and 3.
To create an account:
It is as simple as that!
Hence, depositing, withdrawing or placing a buy or sell order on the Exchange is also very straight-forward. For more guidance on this, visit the Bitblinx Knowledge Base:
Additionally, Bitblinx will also be rolling out their Mobile Application soon, where users on Android and IOS can navigate the exchange more easily while they are on-the-go.
When it is your first time to visit or hear about a new trading platform such as Bitblinx Exchange, naturally you would mistakenly assume that since it’s a new Exchange in the industry, your inquiries will take a while to get responded to, or not attended to at all.
That's not the case. Customer support at Bitblinx Exchange can be reached via Live-Chat on their platform, and they are surprisingly fast at responding to inquiries.
Support is also proactive at handling customer's issues through their Facebook Messenger.
Our conclusion on Bitblinx Cryptocurrency Exchange.
Considering the above evaluation checklist, on a scale of 10, Bitblinx Exchange scores 8.5.
Every exchange has its advantages and disadvantages depending on what the trader wants to achieve.
However, if earning a profit while minimising risks and losses, is your end-goal. Bitblinx Exchange is one of the best Crypto Exchanges platforms you should immediately start trading on.
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* Disclaimer: Highway Media Group will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Currency trading on margin involves high risk, and is not suitable for all investors. Trading or investing in cryptocurrencies carries with it potential risks.
Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Cryptocurrencies are not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument or cryptocurrencies you should carefully consider your investment objectives, level of experience, and risk appetite.
Highway Media Group would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures), Forex and cryptocurrencies prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Therefore, Highway Media Group doesn’t bear any responsibility for any trading losses you might incur as a result of using this data. Highway Media Group may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.