Major cryptocurrency exchanges Somalia 2021

A crypto-currency exchange is a virtual place where you can convert virtual currencies or exchange them for fiat money. 

These exchanges are characterized by advanced features and offer investors the opportunity to earn money;

The world's first digital currency, bitcoin, emerged relatively recently, in 2009. It differs from conventional finance in its anonymity, high transaction execution, low transaction fees and a special production algorithm. With its popularity, user demand for special platforms - the best crypto-currency exchanges - increased. In these resources, people could exchange one crypto-currency for another, or exchange a crypto-currency for fiat currency. Miners mine crypto-currencies and then transfer the mining by conversion to a special service.

Coinbase

Coinbase is a very important and sought-after exchange. It was founded in 2012, just a few years after the emergence of bitcoin. This exchange is located in the United States and operates in strict compliance with all the established rules, which makes it reliable and trustworthy. They offer two different accounts - ordinary and professional.

Coinbase has a fairly high fee if you don't use their professional account. This professional account also allows you to get more different charts and even some additional indicators that track subtle changes in the currency market. They do offer several different types of crypto-currencies though, so there are plenty of choices.

Coinbase is intuitive, so even beginners shouldn't find it hard to get used to. More than 10 million customers are currently working with 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  • You can pay funds that can be deposited and withdrawn using a bank card, transfer and a range of payment systems.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 went public for the first time in 2017. Being a relatively new company, however, it has managed to expand its portfolio significantly. The main advantage of this exchange is that it has deliberately focused on a large number of different cryptocurrencies. There are even some fiat currency options, but they are much more limited.

It works in its favor - the number of currency pairs, the wide range of trading instruments, as well as the trust of millions of users, which is especially important in the crypto-currency market. The variety of assets and low fees have made it more than competitive globally.

Users can make deposits using the crypto-currencies or fiat currencies that Binance allows. This is an often overlooked benefit that allows for easier access for customers around the world. The only real drawback to this exchange is that it is slightly more complicated than some of the other exchanges, and is perhaps best suited for those who have experience with such crypto-currency 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 is among the current leaders. It officially went public on July 28, 2011 in San Francisco, public beta testing began in May 2013, and by September the exchange was already open to a wide range of traders.

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

Having been established relatively quickly, the company has quickly grown to become one of the most popular exchanges on the European market. Their prices are very cheap and they offer a good mix of altcoins as well as fiat currencies to trade.

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

This is certainly a good exchanger that has all the features you need for more advanced users. One notable drawback is that there aren't many payment methods to fund your account. This problem can be overcome, but it is still annoying 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 based in Seattle, Washington, USA. Bittrex was founded by cybersecurity 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 modified and updated, and Bittrex is establishing new partnerships.

It provides storage and operations with more than 200 tokens, whose number is constantly increasing. The exchange also works with euros and dollars and allows withdrawals by credit card. In addition to this, the exchange has extensive security and high-tech software to 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 began its history in 2014 and has grown very quickly with attractive margin trading offers. BitMex is the largest bitcoin platform, offering bitcoin futures with up to 100x leverage. This environment is probably best suited for more experienced traders.

BitMex offers perpetual and fixed contracts with different expiration dates. But all contracts are paid in bitcoins.

BitMex offers the highest market liquidity of any exchange. Ultra low trading fees and minimum deposit requirements. Ability to sign up within 30 seconds. The BitMex interface seems to be quite functional. Users can freely modify the various widgets available, depending on their preferences. Overall, this exchange has become one of the most 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

Founded in late 2012, this exchange is one of the first exchanges. Initially, it was a peer-to-peer platform for margin lending on BTC, but later on, other crypto-currencies were made available and Bitfinex evolved into an exchange. From the beginning, the platform aimed to attract users from the United States. The exchange is now used worldwide.

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 of use and the variety of features makes the exchange convenient for both experienced and novice traders. Users can customize the interface according to their needs, create their own layouts of market information, change the colors of interface elements, etc. Both 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. The headquarters is located in Helsinki, the capital of Suomi. LocalBitcoins - a P2P exchange buys bitcoins for offline fiat money, online electronic money and some altcoins. It is considered a reliable platform for direct and decentralized exchanges between trading parties. It allows you to buy bitcoins quickly through a number of convenient methods.

With citizens from over 200 countries working with this exchange, it is one of the largest crypto-currency exchanges.

There are no other exchanges. It does not use a common global exchange rate. Bidders decide for themselves the price at which they want to buy or sell bitcoins and choose the exchange methods:

  • 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 crypto-currency exchanges in the world, founded in 2014 by Tristan D'Agosta. At the time of writing, the exchange has over 100 currency pairs and a daily turnover of over $13 million. Initially, the exchange focused on the U.S. market, but its global popularity and high trading volumes have attracted altcoin traders from around the world.

It offers a large number of pairs, so experienced traders can create a large portfolio of their choice in a short time.

Interaction with the interface of the Poloniex exchange leaves only the best impressions. In addition, good liquidity and a wide choice of ranges are undeniable advantages. The loan function will not leave indifferent those who prefer a low but stable passive income. But Poloniex is not without a number of drawbacks either, such as the lack of a mobile app and a cumbersome 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 was 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.

The main feature of KuCoin is its own crypto-currency, KuCoin Shares (KCS).

KuCoin is very popular among new virtual currencies that have gone through an ICO, which means you can buy your coins while they are still in their infancy. You can access KuCoin via your desktop computer, as well as via the Kucoin app for Android and iOS.

This exchange is an excellent platform that guarantees a high degree of protection for your assets. Transactions are quite fast and withdrawals are almost instantaneous:

  • 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 specialized in buying and selling digital currencies. It strictly follows the principles of KYC - know your customer - and the fight against money laundering.

The exchange fully lives up to its slogan: customer satisfaction is the top priority. The resource page is fast and serves as a debugging mechanism.

A great advantage is to work with fiats and a wide range of options to deposit and withdraw money. The service offers a wide range of payment methods. Here, crypto-currencies can be purchased via Visa / MasterCard, payment systems and bank transfer.

Cryptoservice is concerned about the security of its customers. That's why it has implemented a two-factor authentication system and constantly monitors the activity of crypto-currency investors. And to prevent hackers from accessing cybercurrencies, Bitpanda stores 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

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

A trader of any level of education can work with Coinmama. There are few sites on the market that are created with a focus on novice traders.

Coinmama is not an easy exchange. Since you can only buy currency there, it can also be considered an exchange. The site does not have a built-in digital wallet. All goods purchased are transferred to the address specified by the user. This can be inconvenient for some users. This exchange is known for its three-level verification. This suggests that its creators care about the security of their users' capital and personal information:

  • 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 on a peer-to-peer basis and earn money by connecting an automated payment service and getting referrals. Paxful was founded in 2014. Today, the site offers you 400 ways to exchange digital assets for currency and works with almost every national currency.

Paxful is a very powerful platform. If you are faced with the task of finding a quick way to buy or sell bitcoins, then this site is perfect.

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

One of the features of this platform is that it offers its users the possibility to sell BTC gift certificates to various retailers, online auctions, stores. This way, merchants accept the certificates for purchases at 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 exchange has been running since 2013 and is a beautifully designed site, fast engine, multi-currency support and the ability to trade multiple crypto-currencies as well as tokens.

The site offers users over 500 currency pairs to trade. The possibility of working with fiat currency is available.

It should be noted that it is a convenient and simple platform for digital currency trading. Throughout its existence, it has established itself as a reliable and safe exchange. The large selection of currency pairs, the simple interface and the low commission levels make the platform a good choice for both beginners 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 replacement options, and the choice is a matter of individuality. 

However, the main criteria to consider when choosing a trading platform are:

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

Based on the information summarized in the article, you can make the right choice for you.