This is the third part of our three-part coverage of some of the most prominent cryptocurrency exchanges. If you have not read the first two parts, check it out here on the site.
Based in Hong Kong, Beijing, and Singapore, Bit-Z is an exchange that caters mainly to Chinese customers. Trading in 74 different tokens and hosting 105 markets, Bit-Z handles transactions for just over $250 million every day. Like some of the other exchanges we have covered in this series, Bit-Z has its own native cryptocurrency token called DKKT. One of the advantages of Bit-Z is that it is not regulated. Another advantage is that it facilitates the over-the-counter trading of cryptocurrency.
Another Chinese exchange is Bibox, which only launched last year. Despite its relatively young age compared to the other exchanges, it has consistently ranked in the top lists of highest trading volume. Clocking in at $200 million every day, Bibox has 62 tradable coins. Traders can use five different currencies to pay the transaction costs. Bitcoin and Ethereum, as well as USDT, DAI, and BIX. The last token is the native currency issued by the exchange during their ICO. Bibox is not limited to China, however. The exchange has satellite offices in Japan, Hong Kong, Canada, the United States, and mainland China. One of the advantages of this exchange is that it is not regulated. Another is the advanced AI that helps traders optimize their trades.
Before this guide becomes too Asia-centric, let us return to the United States briefly, and look at Kraken. Based in California, this exchange handles $135 million worth of transactions every 24 hours. Here, traders can use the most widely accepted fiat currencies, such as the US and Canadian Dollars, the Euro, the Pound, and the Yen. As opposed to some of the newer exchanges, Kraken was founded back in 2011 and is one of the first exchanges in the US. One of the advantages of Kraken is the proof-of-reserves they offer as part of their partnership with a cryptocurrency bank.
GDAX, short for Global Digital Asset Exchange, is the advanced arm of Coinbase described in the first part of this series. Once beginners have honed their skills in crypto-trading, they can move on to using GDAX. This exchange is partnered with the New York Stock Exchange, among other credible institutions. Moving funds from Coinbase to GDAX is very easy, and all customers are insured for up to $250,000. By the end of this month, GDAX will be renamed Coinbase Pro.
The last exchange on our list is Gemini, another American exchange based in New York. Founded in 2015, it caters to traders based in Europe, Asia, as well as the United States. There are not many tradable coins, but users can rest assured that Gemini complies with all regulations. No short selling or trading on margin is allowed on Gemini, and it handles transactions for just over $22 million every day.
We hope this three part guide has given you some insight into the various cryptocurrency exchanges. Leave a comment in the section below if we have missed any important ones!