As we all know, there are more than 700 cryptocurrency exchanges in the world, but only Binance and EOS can be called top exchanges. This article will select exchanges from the perspective of an ordinary user.

The selection principles of the six major virtual currency exchanges

Considering the legality and security issues aims to reduce the possibility of loss and ensure the safety of the principal. This is the key and premise, because without the principal, there is no need to consider other issues. Liquidity and handling fees are intended to reduce costs and increase transaction fees. Of course, this is relatively limited. If you want to significantly increase the rate of return, it mainly depends on your personal trading ability. In addition, the user-friendly interface and the number of currencies solve the user experience problem, which is also the standard that users care about.

Three major issues to pay attention to when choosing a virtual currency exchange

Although we have given the criteria and solutions for selecting an exchange, which basically solves the problem of difficulty in choosing, it does not mean that all problems have been solved. Therefore, we still need to pay attention to the following common problems.

(1) Diversification of funds

Each virtual currency exchange has its own advantages and disadvantages, and no virtual currency exchange is absolutely perfect. Therefore, it is best not to put all your assets on one platform, but to store them on multiple different platforms. Although Binance is currently the world's number one exchange, it does not mean it is absolutely safe. Among them, the Mentougou platform was once the world's number one, but it eventually went bankrupt.

(2) Beware of fraud

There are many new exchanges in the market, but they are not good in terms of security and credit. In order to attract new users, they often use some special marketing methods, such as low fees, deposit gifts, airdrops, etc. In the face of these, you must be careful not to be deceived, and don't lose the big picture. If you must try, you must also control the amount of funds. Once you find that the situation is not good, you should withdraw the money immediately and leave, and never have feelings for the platform.

(3) Account protection

After choosing a trading platform, be sure to keep the password well. You can strengthen the security level, such as setting up SMS verification and Google authentication. In addition, try not to use API interfaces, reduce the use of currency withdrawal whitelists, and do not click on airdrop addresses casually, because every step of this may cause your assets to be stolen.

Based on the above six selection principles for selecting exchanges, and then according to the spot and contract data rankings of CoinMarketCap below, you can have a clear understanding and selection.

Therefore, in terms of platform selection, Binance has a natural advantage. Whether it is spot or contract, it ranks first in the world. In terms of interface usage, Binance is more professional and clear, so it is very suitable for novice players.

What trading offers does the exchange offer?

Spot trading, ordinary user's handling fee rate is one-way (one thousand)

If you hold enough BNB to pay for the transaction fees, you will receive a 25% discount on the transaction fee rate. Combined with the discount on the rebate, the user's transaction fees can be greatly reduced.

However, Binance has trading pairs with zero order fees, which allows users to trade with zero transaction fees, so users can choose according to their personal circumstances.

Contract Trading

First, understand how transaction fees are calculated

Leverage × Opening Margin = Position Value

Position value × handling fee rate = handling fee

For ordinary users of contract transactions, the handling fee rate is 0.02% for Maker (limit price) and 0.05% for Taker (market price).

Benefits you can enjoy
In the transaction, if you hold enough BNB to cover the transaction fee (transfer it to the U-margin contract account when using it), you can enjoy a 10% discount on the transaction fee rate.

In addition, by filling in the invitation code when registering, you can enjoy a portion of the transaction fee as a rebate.

Double discounts can greatly reduce users' transaction fee expenses.

Rebate

This is the most important way for users to save transaction fees. When users fill in the invitation code during registration, they can enjoy a fee refund, which is equivalent to reducing the user's transaction fee expenditure.

Especially for high-frequency contract users, handling fees must be a large expense. A rebate with a good ratio and stable returns can save users worry and money.