Bitcoin trading Somalia 2021
          

A cryptocurrency exchange is a virtual place to convert or exchange virtual currencies for fiat money;

Such exchanges are characterized by well-developed functions and offer investors the opportunity to make money;

The world's first digital currency, Bitcoin, appeared relatively recently, in 2009. It differs from classical finance by its anonymity, high transaction execution, low transaction costs, and a special mining algorithm. As its popularity grew, so did users' demand for dedicated platforms - the best cryptocurrency exchanges. On these resources, people could exchange one cryptocurrency for another, or exchange a cryptocurrency for fiat money. Miners would mine the cryptocurrencies and then transfer the mining by conversion on a special service.

Coinbase

Coinbase is a very large and popular exchange. It was established in 2012, just a few years after the rise of bitcoin. This exchange is based in the US and operates strictly according to all established rules, making it a proven and reliable exchange. They offer two different accounts - regular and professional.

Coinbase has pretty high commissions unless you use their professional account. With this professional account, you can also get more different charts and even some additional indicators that track subtle changes in the currency market. However, they do offer several different types of cryptocurrencies, so there is plenty of choice.

Coinbase is intuitive, so it should be easy to get used to, even for beginners. There are now more than 10 million customers using the platform.

  • 23 types of digital coins.
  • The rates charged for all operations under $200 are as follows: $ 0.99 - $ 2.99 - for operations from $ 0 to $ 200; for over $ 200, a fixed interest rate comes into play. Its size depends on the payment method.
  • Free mobile and online wallet. The advantage of this wallet is that transactions can be made off-blockchain.
  • You can pay funds that can be deposited and withdrawn using a bank card, transfer and a range of payment systems. SEPA transfers are available for EU residents.
  • Two-factor authentication. All website traffic is encrypted using the SSL cryptographic protocol.
    All wallets keys are protected by AES-256 encryption. Only 2% of her clients' cryptocurrency funds are stored online, and they are insured in case of loss.
  • Android and iOS app.

Binance

The exchange first went public in 2017. Being a fairly new company, it has still managed to expand its portfolio significantly. Perhaps the main highlight of this exchange is that they have deliberately focused on a wide range of cryptocurrencies. There are even some fiat currency options, but they are much more limited.

The number of currency pairs, the wide choice of trading instruments and the trust of millions of users, which is especially important in the cryptocurrency market, all play in its favor. The variety of assets and lower commissions have made it more than competitive worldwide.

Users can make deposits with the cryptocurrencies or fiat currencies that Binance allows. This is an often overlooked benefit that makes it easier for customers around the world to access. Perhaps the only real disadvantage of this exchange is that it has a slightly more complicated schedule than some other exchanges, and may be more suitable for those with experience with similar cryptocurrency systems:

  • 740 different crypto and fiat pairs, including own token BNB.
  • Binance offers competitive trading fees (commissions): 0.1% on each side of the trade, or 0.075% if you are using your Binance tokens (BNB).
  • Trust Wallet mobile application.
  • Bank transfer, debit/credit cards, various P2P payment channels.
  • The exchange launched CryptoSafe Alliance (CSA). This initiative will bring together exchanges, blockchain protocols, cybersecurity experts, and regulatory compliance companies. It is the first comprehensive threat monitoring and protection tool in a decentralized data exchange environment.
  • A free app is available in Google Play Store or the App Store.

Kraken

Kraken is one of the oldest exchanges in the industry and among the current leaders. Officially launched on July 28, 2011 in San Francisco, public beta testing began in May 2013, and by September the exchange was open to a large number of traders.

Kraken has managed to gain the trust of its users. No successful hacker attacks have yet been reported.

After a relatively quick establishment, the company quickly became one of the most popular exchanges on the European market. They are highly rated and offer a good mix of altcoins and fiat currencies to trade.

Kraken is a self-regulated exchange, which means that it develops its own security policies and business rules. However, it complies with the rules and regulations of many supported jurisdictions.

It is certainly a good exchange, with all the features you need to support more advanced users. One notable drawback is that there are not many payment methods available to fund your account. This can be overcome, but is still inconvenient for some:

  • 8 tokens are available for.
  • Transactions under 50,000 units of a particular currency are subject to a commission of 0.16% for the seller and 0.26% for the buyer. For sums over 50,000 units, commissions are reduced to 0.14% and 0.24% respectively.
  • No crypto wallet is offered on the site.
  • Crypto wallets and money transfers via bank transfer. Deposit/withdrawal via bank cards is not available.
  • The exchange offers users two-factor authentication, PGP encryption, and global settings lock, which prevents any account changes within a certain period of time.
  • Kraken Pro and Kraken Futures applications.

Bittrex

Bittrex Inc. was founded in 2014 and is headquartered in Seattle, Washington, USA. Bittrex was founded by cyber security experts. Although Bittrex Inc. is a US-based company, it has recently expanded its operations and opened an international subsidiary.

The exchange is constantly being adapted and updated, and Bittrex is entering new partnerships.

It offers storage and transactions for over 200 tokens, a number that is constantly growing. The exchange also works with euros and dollars and allows withdrawals to bank cards. In addition, the exchange has extensive security features and technologically advanced software that protect these online wallets and the platform itself:

  • 250+ trading pairs are available.
  • Topping up your euro account is available via SEPA credit transfer,international bank transfer,bank card. Fiat funds withdrawal is possible to a bank account using an international bank transfer, and for euros, a SEPA credit transfer is supported. The withdrawal commission depends on the chosen currency: in bitcoin, it is 0.0005 BTC, in Ethereum - 0.00600000 ETH.The site has a fixed trading fee of 0.25% of the total value of the order.
  • No crypto wallet.
  • Bank transfers, credit/debit cards.
  • Two-factor authentication (2FA),IP check, which requires an email confirmation of entry from a new IP-address, IP whitelists, Cold storage for 80%-90% assets.
  • There are two apps for Android and iOS respectively: Bittrex Global and Bittrex.

BitMex 

BitMex started in 2014 and has grown very quickly, thanks to its attractive margin trading offer. BitMex is the largest Bitcoin platform that offers Bitcoin futures contracts with up to 100x leverage. This environment is probably best suited for more experienced traders.

BitMex offers fixed-term and open-ended contracts with different expiration dates. However, all contracts are paid for in bitcoins.

BitMex offers the highest market liquidity of any exchange. Ultra low trading costs and minimum deposit requirements. Ability to register in 30 seconds. BitMex's interface looks very functional. The user can freely change the different widgets available, depending on his preferences. Overall, this exchange has become one of the popular options, especially for margin trading:

  • 55 trading pairs.
  • BitMEX does not charge any fees for deposits or withdrawals. When withdrawing BTC, a minimum Bitcoin Network commission is applied; commissions for takers are 0.075% of the total order value, while makers are paid an additional 0.025% for each trade.
  • Crypto BitMEX wallet.
  • Beyond virtual currencies, BitMEX does not accept any other deposits.
  • Funds are stored in cold wallets; Two-factor authentication; Registration via SMS notifications; Multi-signature wallets for transactions; Email communications are encrypted using PGP encryption.
  • BitMEX Mobile launched in September 2020.

Bitfinex

This exchange was established in late 2012 and is one of the first exchanges. Originally it was a platform for peer-to-peer margin lending on BTC, but later other cryptocurrencies became available and Bitfinex developed into an exchange. From the beginning, the platform focused on attracting US users. Now the exchange is used internationally.

One of the reasons for its success is its fairly simple interface. Despite its versatility, the exchange is quite easy to use. The combination of this ease and the variety of features makes the exchange suitable for both experienced and novice traders. Users can customize the interface, create their own market information layouts, change the colors of the interface elements, etc. Both the mobile and web versions of the site are convenient:

  • Over 140 coins and 300 trading pairs.
  • No additional payments for deposits and withdrawals in digital coins. When you deposit USD, you will have to pay a commission of 0.1%, but not less than $ 20;Minimum fee for withdrawing fiat money is $ 60; With the minimum currency turnover per month, the trading fee is 0.1% for the maker and 0.2% for the taker.
  • Users are offered three wallets to choose from - Exchange Wallet, Margin Wallet, and Financing Wallet.
  • In addition to digital currencies, bank transfers and card withdrawals are available to users.
  • Only 0.5% of crypto assets are kept online to support daily transactions. The rest of the coins are kept in cold wallets out of the reach of hackers. For these wallets to become available, manual authorization of several members of the management team is required.

Localbitcoins

LocalBitcoins was launched in Finland in 2012. It has its headquarters in Helsinki, the capital of Suomi. LocalBitcoins is a P2P exchange for buying bitcoin by offline fiat money, online e-money and some altcoins. It is considered a reliable platform for direct, decentralized exchange between parties to a transaction. You can quickly buy bitcoin with it using several convenient methods.

Citizens of more than 200 countries work with the exchange, making it one of the largest cryptocurrency exchanges.

It is not like other exchanges. There is no common global exchange rate. Competitors decide at what price to sell or buy Bitcoin, and choose their own exchange method:

  • The service does not charge a commission from the buyer.  For sellers, there is a set commission of 1% on each sale.
  • Bank transfers, banking cards, electronic systems.
  • The security of the transaction is ensured by the escrow method, which has proven to be highly effective; User accounts are protected by two-factor authentication.

Poloniex 

Poloniex is one of the largest cryptocurrency exchanges in the world, founded in 2014 by Tristan D'Agosta. At the time of writing, there are over 100 currency pairs on the exchange, with a daily trading volume of over $13 million. Initially, the exchange focused on the US market, but its global popularity and large trading volumes have attracted altcoin traders from all over the world.

It offers a large number of pairs, allowing experienced traders to build a good portfolio of their choice in a short period of time.

The interaction with the Poloniex exchange interface leaves only the best impressions. In addition, the good liquidity and the large choice of forks are undeniable advantages. The Lending function will leave no one indifferent to a small but stable passive income. But Poloniex is not without its drawbacks, such as the lack of a mobile app and a difficult-to-use website:

  • 100+ currency pairs.
  • All deposits are allowed without any additional charges; The withdrawal fee is fixed, and it depends on the type of the currency; commissions are from 0 to 0.25%.Maker commission is from 0% to 0.15%; taker commission is from 0.1% to 0.25%. The higher is the volume of completed transactions in one month, the lower is the commission for all subsequently completed transactions.
  • Own Wallet.
  • Replenishment of an account with a bank card or withdrawal to a card are not available for users of some countries.
  • The administration highly recommends to add two-factor authentication to your account.
  • Mobile application.

Kucoin

KuCoin is a Hong Kong-based exchange that launched in May 2017, and has already gained popularity among traders. It is a third-party exchange that allows you to buy, sell, and trade various cyber currencies.

KuCoin's main feature is its own cryptocurrency, KuCoin Shares (KCS).

KuCoin is very popular with new virtual coins that have gone through ICOs, which means that you can buy your coins while they are still in the early stages. You can access KuCoin through your desktop computer, as well as through the Kucoin app on Android and iOS.

This exchange is an excellent platform that guarantees a high level of protection for your goods. Transactions are fast enough and withdrawals are almost immediate:

  • 200+ coins and 450+ trading pairs.
  • All deposits are free on the site, and there is a fixed fee for withdrawals; KuCoin offers a flat commission of 0.10%, which is less than the industry average.
  • Inner site crypto wallet.
  • A variety of payment methods supported by P2P fiat services.
  • The exchange offers you the option to set up two-factor authentication by Google Authenticator.
  • Mobile application .

Bitpanda

Bitpanda is an Austrian company that specializes in buying and selling digital currencies. It strictly adheres to KYC - know your customer and anti-money laundering principles.

The exchange is true to its slogan: customer satisfaction is a top priority. The site runs fast and like a well-tuned machine.

A big advantage is working with fiat and a wide range of deposit and withdrawal options. The service offers a wide choice of payment methods. Cryptocurrencies can be purchased here via Visa/MasterCard, payment systems and bank transfers.

The crypto service is concerned about customer security. Therefore, it has introduced a two-factor authentication system and constantly monitors the activity of crypto investors. And to prevent hackers from gaining access to the cyber coins, Bitpanda keeps the funds in "cold" storage, i.e. offline:

  • Bitcoin, Ethereum and 30+ digital assets.
  • The trading commission of the service depends on the type of currency and the nature of the transaction. When buying bitcoins, you pay 1.49%, when selling - 1.29%.
  • Commission for replenishment and withdrawal is fixed for each coin and is debited from the account.
  • Bitpanda crypto wallet.
  • You can make a deposit either by bank transfer, credit cards or electronic payment systems.
  • Bitpanda refers to systems that independently manage user wallet keys.Besides, the following security measures are offered: fund cold storage session control. Every login attempt from a new device requires two-factor authentication confirmation, authentication and validation via email.

Coinmama

Coinmama, founded in 2013, is owned by the investment company New Bit Ventures Ltd, which is legally registered in the State of Israel.

Coinmama can be used by traders of all experience levels. There are not many sites on the market made with a focus on novice investors.

Coinmama is not a simple coin exchanger. Since you can only buy currency with it, it can also be considered a currency exchanger. There is no digital wallet built into the site. All goods purchased are transferred to an address provided by the user. This can be inconvenient for some users. This exchange is known for its three-tier verification. This shows that its creators care about the security of its users' capital and personal data:

  • The website sells Bitcoin, Ethereum. Litecoin, Bitcoin Cash, Qtum, Ripple, Ethereum Classic, Cardano, Tezos and EOS.
  • The use of credit or debit cards implies a service charge of 5%.Besides, the charges 3.90% for buying coins and 0.9% for selling these.
  • No Wallet.
  • Credit/debit cards and bank transfers; It supports SEPA and SWIFT payments.
  • Coinmama is a reputable company with a secure site using Trust Guard and Comodo technologies. Both services have confirmed that 256-bit SSL encryption is actively used on pages containing personal. information
  • Mobile app.

Paxful

Paxful allows you to exchange fiat money for digital assets in Peer-to-Peer mode and earn money by connecting an automated payment service and referrals. Paxful was founded in 2014. Currently, the site allows you to exchange digital assets into fiat assets in 400 ways, and works with almost all national currencies.

Paxful is a very powerful platform. If you are looking for a quick way to buy or sell bitcoins, this site is ideal.

The Paxful website has a user-friendly interface. Everything is very clear and understandable, which is especially important for people just starting out.

One of the features of this platform is that it allows its users to sell gift certificates for BTC to various retailers, online auctions and stores. For example, merchants accept certificates for purchases from Amazon, Walmart, iTunes and many others:

  • Bitcoin and Tether as assets.
  • Commissions are applied for crypto selling:0.5% for bank transfers; 1% for bank cards and e-payments; 3-5% for gift cards; No commission is charged for buying cybercurrencies; Paxful will charge a transfer fee for sending funds to an external wallet. $ 0 - $ 9.99 = 0.0001 BTC$ 10 - $ 19.99 = 0.0002 BTC;More than $ 20 = 0.0005 BTC.
  • The Paxful Wallet App makes it easy to store and manage coins with your mobile wallet.
  • More than 300 ways to buy coins, including bank transfer, credit and debit cards, PayPal, Western Union, and even Amazon, iTunes or Steam gift cards.
  • The security of the system is ensured by two-factor authentication, depositing and the obligatory verification procedure when working with large amounts.
  • Paxful Wallet for Android and iOS.

HitBTC

HitBTC has been up and running since 2013 and is a nicely designed site with a fast engine, support for multiple currencies, and the ability to trade in all types of cryptocurrencies as well as tokens.

The site offers users more than 500 currency pairs to trade. It is possible to work with fiat money.

It is worth noting that it is a convenient and easy platform for trading digital currencies. During its existence, it has proven to be a reliable and secure exchange. A large choice of currency pairs, a simple interface and low commissions make the platform a good choice for both novice and experienced traders:

  • 800 currency pairs.
  • No commissions for deposits and a fixed commission for withdrawals depending on the coin; HitBTC uses a multi-level trading fee calculation system. The more a user trades, the lower his commission will be.
  • No crypto wallet.
  • The HitBTC exchange can be replenished exclusively with digital currency.
  • The platform provides 2-factor authentication, high-end encryption technology and cold storage of funds.
  • No application.

There are many tradeoffs, and the choice is an individual matter.

However, the most important criteria you should consider when choosing a trading platform are as follows:

  • Reputation.
  • Commissions.
  • The number of trading pairs.
  • Liquidity.
  • Payment options.
  • Requirements for user verification.

The brief information in this article will help you make the right choice for you.