While basically any new year starts like this, the year 2020, in particular, has many businesses and brands looking to attract new people. This is also true for exchanges. Today, Josip Heit will tell us what he thinks about trading in 2020.
It’s a new decade and many people are looking to make major changes in their lives or to gather new experiences, so businesses are looking for new ways to attract potential customers. For example, tokens, which are commonly issued during the opening phase of most crypto/blockchain projects, often attract many new users since their interest is sparked by them.
While there are many exchanges that have existed for decades, the number of exchanges is rapidly increasing. Considering that exchanges are used to trade coins and fiat money and that amount of coins is also growing each day, this makes sense. Existing exchanges don’t really have a way to cope with the sheer number of cryptocurrencies.
The following are some of the top exchange platforms for your coins in 2020:
First off, Binance. Binance, which was rated the top exchange platform of 2019 will definitely carry its fame and momentum to the future. It’s even available as a mobile application, with a really high number of cryptocurrencies listed for exchange.
Second in line is BitMex, which also has a very high number of subscribers.
Cex exchanger is rated the easiest to use, while CoinMama, one of the older exchanges, enables you to instantly get your Bitcoin and Ethereum.
Others include, CoinBase, ChangeNow, Bittrex, KuCoin, and OkEx.
Exchanges such as Binance are gaining such a huge amount of popularity even though there are so many exchanges available globally because of the efficiency of their systems, which can handle the tremendous amount of coins being listed and traded.
Binance, for instance, has over 200 altcoins being traded daily and it has maintained its centralized exchange and still can afford to attract users by providing a discount for people that are using Binance Coin.
Binance has a 0.1 percent standard trading fee, which, if you compare it with other exchanges, is pretty low. Its discount rate reduces by half each year. For the first year, the discount rate is 50 percent, making it 25 percent for the second year, 12.5 percent for the third year, 6.75 percent for the fourth year, and, after the fifth year elapses, the discount is gone.
BitMex prides itself on being created with the help of high profile web developers, economists, and traders. The team’s efforts have translated into an increased volume of exchange over the BitMex exchange.
Josip Heit, a Croatian self-made multi-millionaire, shares his advice with willing investors and entrepreneurs who are already in the field. Heit began his business life at young age and also started investing in precious metals very early on. Precious metals are one of the world’s most valuable yet risky fields.
Now, he owns two precious metals mines; one in Madagascar and the other in Brazil. Josip Heit also is the Chairman of the Board at GSB Gold Standard Banking Corporation AG https://www.gsb.gold/
‘‘One shouldn’t only invest heavily on the major exchanges but also on some exchanges that are fast arising and have some of the best conditions. The transaction costs, ease of trading, and capability of exchanging the coins to fiat money and the other way round all need to be considered,’’ said Heit.
When you want to figure out a way of doubling your income with resources such as tokens, you first need to ensure that the coin in question is listed on multiple exchanges. This ensures authenticity and also smooth transactions if other exchanges are under maintenance.
For example, KaratGold Coin (KBC) is a coin that is linked to CashGold. Karatbars has been in the gold market since 2011 and definitely knows how to handle itself and its products. Today, the KBC is one most dominant coins and it’s listed on several exchanges. KBC is, among others, already listed on CoinBase, CoinAll, Coineal, p2pb2b, and LBank.
‘‘The Initial Exchange Offering (IEO) of any project should be traded and listed on various exchange platforms. Their purchase or any form of acquisition should be regulated to leave no big gap when the coin takes root after the IEO,’’ said Heit.
Heit added that ‘‘the exchanges should be modified to accept trades that relate to a specific industry; this should be the future plans of the blockchain entrepreneurs. For instance, raw material industries should have separate exchanges than healthcare, Agriculture, Tourism and other industries.’’