Best Cryptocurrency Exchanges
Cryptocurrencies have imposed themselves strongly on the global economy today, especially with the increase in their spread and circulation in various parts of the world, including our Arab world, where the volume of transactions via digital currency trading platforms amounted to about 2.5 trillion dollars last September, and it is constantly rising.
This type of currency has become a fait accompli that cannot be overlooked or ignored, especially as it has acquired a large part of the attention of investors, specifically in our Arab world, as digital currencies are traded in Saudi Arabia, the Emirates, Kuwait, Egypt, Jordan and the rest of the Arab countries on a large scale.
But many analysts show the risks of dealing with these currencies and the negatives that they may contain, especially with the increase in fraud and scams after the number of these currencies exceeded more than 5,000 cryptocurrencies.
Muhannad Erekat, an economist and chief analyst at Jordan's CFI (one of the largest Arab companies specialized in forex), said, "The company does not deal with digital currencies due to the instructions issued by the Central Bank, which warns citizens against dealing with all types of these currencies. Due to the high risks and losses that dealers may incur,” via cryptocurrency trading platforms.
He spoke about the fluctuation of the value of these currencies largely and exaggeratedly, in addition to security concerns, financial crimes, and electronic piracy that may lead to the loss of all the investor's balance, in addition to the legal risks surrounding dealing with these currencies, as they are not classified as money or private property by the legislation, laws, and regulations It is enforceable in many countries, due to its lack of a financial cover, and the failure to issue it from licensed or accredited bodies that are legally bound by it.
Erekat explained that "trading in digital currencies is linked to financial, economic and environmental risks, the lack of financial control, and the high energy consumption of cryptocurrencies."
He stressed that "the future of these currencies is still unknown and in doubt, as governments do not have a clear ability or ability to monitor the dynamics of the work of these currencies, and therefore the possibility of this affecting the official local currencies and various financial institutions, and this is what prompts many countries to fight these currencies."
But at the same time, many world governments are also studying the adoption of digital central bank currencies such as "Digital Euro" by European countries, adds Erekat,With all these risks and caveats, the demand for cryptocurrencies through digital currency trading platforms is constantly increasing due to the high and rapid profits that investors achieve through them,In this report, we present to you the most famous digital currency trading platforms in the world, and we took into account in the selection the level of security, credibility, spread, and ease of use of these selected platforms.
Coinbase
Founded in 2012 in the United States of America, it is one of the most famous and most powerful digital currency trading platforms in the world, because it makes the process of buying and selling these currencies very easy while providing strong protection for traders, and the platform also contains a large number of market indicators and charts that it needs Users to analyze the market movement.
The platform is the largest broker for the exchange of bitcoin, ether and litecoin, against 32 fiat currencies, and this platform is used in 190 countries around the world and is used by about 10 million customers from different countries. Another advantage of it is the relatively low fees it charges compared to other platforms, although it is not the least among them.
Coinbase also offers secured trading wallets to investors, providing them with insurance against hacking and hacking, and the funds are stored in bank accounts that are secured by the Federal Deposit Insurance Corporation (FDIC), which is important because many users have reported hacking and theft of their accounts. The platform also offers custodian accounts for novice users to protect them and offers the best investment advice for them.
Binance
We chose this platform among the most famous cryptocurrency trading platforms because it offers a long list of currencies other than the most common cryptocurrencies, as well as for its availability on an Arabic interface dedicated to Arab traders.
Founded in 2017 in America, and since 2019 it has become one of the most powerful cryptocurrency trading platforms in the world. The platform only allows deposits in US dollars by global users via the Society for Worldwide Interbank Financial Telecommunication (SWIFT), but it allows users to purchase a specified number of cryptocurrencies. Directly with credit cards, deposits using 12 other fiat currencies are also allowed.
Binance is suitable for people who want to trade or invest in lesser-known altcoins. It offers more than 50 different cryptocurrencies for trading. It is a good choice for anyone who wants more advanced charting than most other exchanges; The features, charting and data capabilities that come with account opening are great, and give traders an excellent ability to analyze and read the movement of the markets.
Bisq
We chose this platform among our cryptocurrency exchanges because it is an open-source decentralized exchange with no Know Your Customer (KYC) requirements,It is a downloadable software that exchanges Bitcoin and other crypto-currencies pair-to-pair, so this software does not have a central point of control and cannot be removed, just like Bitcoin itself, which means complete control for investors.
No one but the user can control the movement of funds or buy and sell, and it differs from central exchanges such as "Coinbase" or others, where "Coinbase", for example, can control the movement of users' funds in a custodian account that the user does not have the keys to access, In this scenario, Coinbase reserves the right to freeze your account if it deems that there has been suspicious movement in this account.
Cash App
We chose this platform because it is very easy to use, and it gives traders flexible options to withdraw to other cryptocurrency wallets,Cash App is a currency-to-currency money transfer system, much like the Venmo app. This service allows users to buy food for their friends, pay rent for a roommate, or even shop online at a retailer that supports the app. This app works like a bank account, and users can get their own "Cash App" debit cards
.In addition to all these features, CashApp also allows its users to invest in stocks, exchange-traded funds (ETFs), and Bitcoin. It is very easy to download this platform (application) and use it in transactions and trading immediately; This makes it an ideal platform for beginners who are just starting with trading for the first time in their lives,While this platform’s main feature is the transfer of funds, it also has the primary advantage of investing in cryptocurrency, as it allows users to withdraw cryptocurrency investments to their wallets, and the ability to withdraw cryptocurrency from the exchange is critical in the cryptocurrency community, that is The main reason why we chose this app over other apps and platforms as the best choice for beginners who are looking to buy and sell bitcoins.NSFX
A financial company licensed by the European Union, the Securities Commission, and the Central Bank of Malta since 2013, and monitored by the Malta Financial Services Authority (MFSA), and provides trading services for various digital currencies such as Bitcoin, Ethereum, Ripple, Bitcoin, and Bitcoin Cash, in addition to forex and shares of international companies approved.
Among the most prominent features offered by this platform to its clients are a strong and deep financial portfolio, tight spreads between the buying and selling prices, and great ease in depositing and withdrawing funds through a licensed European broker,It also provides a negative balance protection policy, which is a very important feature for investors, and offers a risk-free demo trading account for beginners, before they enter the market. The platform also has an Arabic interface and uses the Metatrader 4 trading platform. It is a chartered platform, and there is a newer and more powerful version of it, Metatrader 5.
Huobi Global
It was established in 2013, headquartered in Singapore, and considered by observers to be one of the largest digital currency trading platforms in the world. This institution has many offices in many countries of the world; Such as Japan, Korea, Hong Kong, America, Britain, and other countries, with its services reaching more than 130 countries in the world.
The platform offers many distinguished services and exchanges that can be accomplished at the lowest costs, as the participation fee is only 2% of the entry fee, and the platform provides security for users by setting appropriate trading limits for all,After verifying the user’s account, he can trade about 200 bitcoins per day, and transactions are not only done online and on the platform’s websites, as traders can download the platform’s application for Android devices on Google Play, as well as for Android devices. iOS through the Play Store.
Voyager
A famous American platform for investing in cryptocurrencies, and it was one of the first exchanges established in New York City in 2017 with the aim of trading in these currencies publicly. The company's capital is more than $100 million, has been put up for a public subscription, and is traded in Canada and the OTC market in the United States.
It is an application that can be easily downloaded on all smartphones, and one of its most important features is to provide a commission-free trading structure. It also supports most major cryptocurrencies, as more than 50 encrypted digital currencies are traded through it, and it enjoys strong support and widespread participation and pays prices Competitive interest on assets. Additionally, when you open a Voyager account, you can earn $25 in BTC (BTC) after trading $100 in cryptocurrency.
Capital.com
A modern Australian site that supports the Arabic language and works as an online broker, and provides easy-to-use trading tools for beginners, in addition to providing important tips and instructions aimed at making the market accessible to everyone, in addition to providing online training courses, and on this site investors can trade in more than 200 A pair of cryptocurrencies in more than 3 thousand financial markets around the world.
It provides an easy trading interface in 29 languages in the world, including Arabic, all of which help users of different nationalities to anticipate the market movement through the charts and market reading indicators it provides. One of its other advantages is that it does not charge any fees or commissions, which also applies to withdrawals and deposits, in addition to that, it provides 24/7 customer service,The site is authorized and monitored by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), which gives reassurance to investors.
eToro
It is one of the most famous digital currency trading platforms in the world and was established in 2007, and it is licensed in both Cyprus and Australia and subject to the financial laws and regulations in these two countries, with more than 11 million investors registered from around the world, and more than 15 digital currencies are traded It is characterized by providing an interactive and social digital trading platform, and among its other features is the provision of an Arabic interface that facilitates trading for Arab traders in digital currencies.
eToro offers an interesting social interactive service that is not available on other platforms, the Copy Trader service that allows novice traders to copy the portfolios of more experienced investors in the short or medium term. Copy trading is ideal for inexperienced investors, Where they can learn from the experiences of the most experienced and trained traders.
The platform offers high leverage when it comes to cryptocurrencies, and this has two advantages; Where profits can be maximized, especially for investors who have limited capital, however, the risks are also high for these investors, as they can lose all their capital if the market reverses on them, and for this we advise them to put an end to the loss before starting trading on this platform.
TGMFX
A British company that supports the Arabic language, and it has branches in Europe, Asia, Latin America, and Australia, and it is one of the best and most modern international brokerage companies, in the forex market, through which investors can interact and trade easily and simply, as the platform provides trading accuracy in global markets, and the brokerage company is The only one that guarantees stop orders and a profit limit, regardless of market conditions, as all investor orders are executed automatically.
The company is distinguished by using SSL with Bit 128 encryption technology on all transactions; This makes all customer information secure at all times, and it has platforms designed for all levels of experience, to help build clients' investment portfolios in the fastest time. There are other advantages, perhaps the most important of which is the provision of an investment advisor in Arabic.