Choose From the Top 3 Bitcoin Exchanges in Denmark
Compare exchanges pertaining to fees, trading volumes, and various other factors
Starting with Binance, it’s the largest and most popular exchange globally in terms of the trading volume. Its popularity is obvious with the number of users it caters to every day. In order to keep itself competitive enough, Binance supports trading of a very high number of cryptocurrencies. Users can trade with over 200 digital coins when trading on Binance.
The exchange was founded by Changpeng Zhao, a very well-known coder from China in 2017. Hence, the exchange has a lot of great features that traders can depend on for making selection of the crypto trades. This platform is one of the most opted choices for Bitcoin as a buy. Apart from offering a secure exchange platform, it does provide users with cryptocurrency to keep their funds and assets safe.
With a daily trade of over 10 billion to 12 billion, Binance boasts over 12 million users trading through its platform on a daily basis. It even has its own native token, named BNB. The token started with an ICO price of $1.52 and has reached to $15. Hence, offering a return of more than 16000%.
It charges the lowest trading fees of 0.1%
The exchange has support from more than 190 countries
Users get higher discounts when trading using BNB tokens
The exchange founded by the former Oracle computer engineer, Leon Lin. Huobi Global, since it’s inception in China in 2013, the exchange has flourished to become the top crypto exchanges around the world. After securing a very high venture investment contributed by popular investors including Sequoia Capital, Huobi got huge financial aid to further improve its platform in 2014.
Huobi has since then has never ceased to impress investors and traders globally. As of now, it has partners and subsidiary companies scattered in over 12 different nations.
After China put restrictions on crypto exchanges and traders in 2017, Huobi relocated to Singapore to ensure that the limitations do not come in the way of profit of its users. As a result, it has over 5 million users and caters to more than 2 billion trades every day.
Similar to Binance, it has its native token, Huobi Token (HT). As of now, the ICO price has reached $4, when starting from $1.52. Clearly a considerate jump.
Trading fees range between 0.2% to 0.4%
Offer margin trading to traders and multiple payment methods.
Huobi exchange is available in more than 130 countries
HotBit was founded in 2018. Hence, it is a comparatively new exchange to be on the top three list. However, the exchange has managed to reach among millions of users across the world, earning its place in the top exchange list. It has over 600 digital assets that users can utilize to trade. It also offers high liquidity and various other benefits. With huge popularity, it also has gathered a lot of attention and boasts over 1 billion dollars of trade volume daily.
Even better, HotBit pays a 0.05% makers fee, instead of charging it from those placing the trade. It actually rewards those who make trader. It does charge takers fee of 0.2%.
If you wish to deposit the fee on the platform’s account, you must use cryptos. There is no provision to deposit regular fiat currencies. However, that does not make a difference as long as you are making benefits using the platform. Apart from the wider altcoin support, HotBit also has a great interface, easy to apprehend for even the beginners. And, it does count for the best choice.
Wider selection of altcoins and digital assets over 600 in number
It offers rewards for making trades: 0.05% as makers' fee
It caters to over 1 billion dollars trade volume every day
What is Bitcoin Exchange?
Bitcoin exchange refers to the digital marketplace providing traders an online platform to sell and buy bitcoins. The purchase can be done in exchange for either fiat currencies or altcoins. In other words, these exchanges are more like an intermediary making trades possible between the buyers and the sellers of different digital assets.
As mentioned above, bitcoin exchanges are a medium that enables the buying and selling of cryptocurrencies between two parties. In cryptocurrency terms, the trade happens between a "maker" and a "taker."
These exchanges are very close to a brokerage. Users get various options for depositing money via different payment methods. This may include wire transfers, bank transfers, and few other means. What’s important to note is that you must often pay for the service, depending on the choice of your exchange.
For every trade between cryptocurrencies, there is a currency conversion fee. This is the same as you expect with the institutional banks for trading fiat currencies of different countries.
If you know about the existing brokerage and its ordering system, it would be easier to understand the purchases and sales of cryptocurrencies. Similar to it, in the case of crypto trading, a taker (‘buyer’ in case of a conventional brokerage ordering system) is supposed to place a limit order. This can be sold only when a matching cryptocurrency is made available by the crypto maker (‘seller’ in case of a conventional brokerage ordering system).
How to Use Exchanges?
Have you ever worked with a usual stock exchange for trading with shares? If you have, trading with cryptos won’t be much of a hassle. To start with, you would need to create an account with the selected exchange. Once you do that, you will be asked to follow certain verification process to prove your identity. Few exchanges do allow you to trade without verifying your identity. However, there many limitations and restrictions on your withdrawals and other processes.
Again, when it comes to trade using the exchanges, you must follow a similar ordering system as it is with the stock exchange. A buyer can place a market order to buy the chosen digital coin at the current market rate, set by the seller. However, the exchanges also provide the privilege to place the limit orders. In this case, buyers can set the price at which they wish to purchase the bitcoin or other altcoins. If the set price is greater than the best available price, the trade will execute. If the set price is less than the market price, the exchange will wait until the seller places a matching bid.
However, before starting a trade, one must deposit funds to the exchange account. This can be done using various payment methods. Some exchanges support multiple methods while others may have just one or two options. Starting from bank transfers to credit or debit card transfers to PayPal transfers, there are many other methods too.
Bank transactions vs blockchain transactions
This website is for educational purposes only. We recommend the best choices through thorough research of the market space. However, the website does not provide any financial advice for crypto investment. If you need such assistance, you must consult with the concerned team.
Getting to understand the risks associated with cryptocurrencies would help you make the right decision. Hence, connecting with financial or investment professional is what you must seek before starting crypto trading. Invest as much as you can afford to lose.
Once again, our team only provides a list and comparison for top exchanges. We do not guarantee any profits with trading cryptos. Also, BitcoinDenmark24 isn’t a legal advisor for trading needs.
Also, note that BitcoinDenmark24 receives an affiliate advertising commission from Crypto wallets and exchanges.