A cryptocurrency exchange allows people to buy, sell or trade cryptocurrencies. In order to do that, first you need to deposit fiat (real money) or crypto currencies. Then you can trade or exchange your funds - buying other cryptocurrencies or monetize to fiat money.
For each transaction, the trading platform will charge you a fee, which is different for each platform. The cryptocurrency exchanges typically support the top 5 cryptocurrencies: Bitcoin, Ripple, Ethereum, Litecoin and Bitcoin Cash. There are though much more other crypto pairs for trading.
Before you decide to open an account with any cryptocurrency exchange, you should look for some basic features like geographical and legal restrictions, transaction fees, security, ease of use and the credibility of the respective exchange.
g8pool rating is using a unique model to assess all these features and rate the exchange. Below you can find the top 3 crypto exchanges for 2019:
BINANCE -†Binance was founded in 2017 in China and after the ban on trading there (September 2017) and tighter regulations in Asia they moved to Malta (for EUR liquidity). The strengths of the exchange are the user experience, which is very innovative and easy to use, the amount and quality of the traded crypto currencies (Binance has a good model for selection of the listed cryptos). Binance management have a strong vision and team, which makes it a potential candidate to top the list for the next few years.
Liquid -†Liquid is web application launched in 2018 replacing the exchange Qryptos and build on the Quoinex (Quoine Exchange), which is a Japanese exchange founded in 2014 by Quoine Pte. Ltd. It is a fiat-crypto exchange and follows the business model of Coinbase/GDAX and OKCoin/OKEX: one deals with fiat and the other one with crypto trading. It is one of the first exchanges, regulated by the Japanese authorities. This provides transparency and confidence of the users.†
Exmo -†EXMO is a European crypto currency exchange, with focus in Eastern Europe, that allows users to trade the most popular crypto currencies. It was founded in 2013. You can deposit funds into your account using a number of payment methods and the platform offers support for five fiat currencies including Russian, Polish and Ukrainian national currencies and most recently EXMO launched a subsidiary also in Turkey.†
If you are a beginner and want to have a tailor-made exchange selection, which best fits your profile, check out the the g8pool crypto exchanges list.