The cryptocurrency market is very dynamic in every possible sense of the word. In addition to the extreme simultaneous volatility of reputable cryptocurrencies, it is worth mentioning the equally extreme “staff turnover”. Almost daily new projects enter the market and those that have not managed to win a place in the sun leave.
Experienced traders claim that it is never too late to liquidate a bad position, although this is not always true. Suppose, as long as Binance exists, there will be no problems with the BNB to ETH exchange. But if suddenly something goes wrong with crypto exchange No. 1, even every homeless dog will be aware of this. But what if you have several hundred rarer and not very popular coins lying around?
Where to buy and sell rare coins
Today it is much easier to buy or sell cryptocurrency than it was seven to ten years ago. With all the richness of choice, it is better to give preference to proven methods, namely, to make transactions on cryptocurrency exchanges.
Types of cryptocurrency exchanges
Cryptocurrency exchanges were created by analogy with traditional stock and currency exchanges. Their main functionality is for buying and selling digital assets for fiat money or exchanging them for each other. Cryptocurrency exchanges have retained many features inherent in their “ancestors”, but they also have their own specific features.
First of all, we are talking about continuous trading, while the stock and currency exchanges adhere to a strictly established working schedule. In addition, it is important that you can still trade anonymously on cryptocurrency platforms, although the further you go, the fewer exchanges provide such an opportunity.
The first cryptocurrency exchanges were centralized, but by the beginning of this decade, the active development of decentralized trading platforms began. They work on the blockchain and this technical feature provides users with much more freedom of action. While this market segment is in its infancy, decentralized platforms are far inferior to centralized ones in many important indicators.
Best rare coin trading platforms
Cryptocurrency exchanges approach token listings very differently. Some sites keep up with the times and quickly place tokens of young projects, but rather quickly part with coins that are losing popularity. On some, little-known assets linger longer.
In the list of the best platforms for trading rare coins, the MEXC crypto exchange takes pride of place. To date, the platform supports about 1500 coins and tokens. After registering on the platform, the system will ask you to verify your account, but this is not necessary, unless you plan to withdraw more than 10 BTC per day.
Purchase of digital coins for fiat and withdrawal of funds to the card is available. The platform supports spot, margin, futures and p2p trading, there is the possibility of passive income. Also, users have the opportunity to vote for the tokens they want to see on the platform.
Among the disadvantages of MEXC, users note rather high commissions.
Gate.io centralized exchange supports over 1500 coins and tokens. This is one of the few top exchanges that does not require mandatory account verification. It is possible to buy cryptocurrencies for fiat, but trading in crypto-fiat pairs is not supported. Trading fees are below industry averages. Available spot, margin, p2p, futures trading.
The decentralized crypto exchange Sushiswap runs on the Ethereum blockchain. It is based on a decentralized exchange protocol based on AMM. Users can create liquidity pools from any ERC-20 tokens. SushiSwap is community-driven – the owners of the SUSHI token, which is credited with the supply of liquidity to the pools, have the right to vote in the discussion of project management issues. The platform supports about 430 cryptocurrencies. Registration on decentralized sites is not required.
You can manually search for a platform where the desired asset is traded, but this is a very laborious task. It is much easier to entrust this process to the Smart Rate search engine. To do this, you just need to go to LetsExchange and fill out the exchange widget. The platform supports more than 2000 coins and if there is a deal with the parameters you need on the network, you will get this chance. The platform is available without registration, there are no commissions and there are no limits on the number and volume of swaps.