What Is Cryptocurrency?

Cryptocurrency is a medium of internet-based exchange that uses cryptographic functions for conducting financial transitions. Cryptocurrencies leverage blockchain technology for gaining transparency, decentralization, and immutability. In other and straightforward words, a cryptocurrency is a form of payment used to buy goods and services online.

Today, many companies issued their currency such as tokens. These currencies are mainly used for the trading of goods and services that specific companies provide. For example, suppose you need arcade casino chips or tokens, so you will need to exchange your real money for cryptocurrency to buy or access the goods and services.

Cryptocurrency’s work is handled by blockchain technology. In a blockchain, decentralized technology is spread across many computers, which records and manages all transactions. This technology is mainly famous for its security.

The Top Best Cryptocurrencies Are:

  1. Bitcoin ($1.1 trillion)
  2. Ethereum ( $497.6 billion)
  3. Tether ( $70.1 billion)
  4. Solana ( $59 billion)
  5. XRP ($49.7 billion)

Why Is Cryptocurrency So Famous Or Popular?

  • Some people like cryptocurrency because it removes the role of the central bank, which manages the money supply. For many years these central banks have been reducing the value of money through inflation.
  • Some people like cryptocurrency because it grows the value up, and in this, there is no interest in currency’s long-term acceptance ( way to move money).
  • Most people buy cryptocurrencies like Bitcoin because they think that this currency will raise its value much in the future.
  • Many people prefer cryptocurrencies because of the technology blockchain used behind it. In blockchain technology, the decentralized system of processing and recording is more secure than traditional methods or systems of payment.

Top Best Cryptocurrencies Exchanges In Mexico

  1. CEX.IO:

    CEX.IO manages multi-functional cryptocurrency exchange and allows people to buy their Bitcoin with their credit card, SEPA transfer, Astro pay, ACH bank transfer. The buying, which is made with a credit card, gives people immediate access to their bitcoin. CEX.IO was established in 2013, and its offices are situated in the US, UK, Cyprus, Gibraltar, and Ukraine.

    CEX.IO has more than 3 million users worldwide, and they provide services of cold cryptocurrency storage, high security, financial, viability, AML/KYC best practices.

    This exchange platform is one of the first platforms that give people accessibility to do flat to crypto transactions via bank transfer and card payments. CEX.IO provides various buying or trading tools for bitcoin, stellar, litecoin, crypto assets, ethereum, etc. CEX.IO enabled their customers to trade through WebSocket, android mobile apps, through the website, and REST API.

    This exchange has some drawbacks like lack of liquidity in the GBP market, and verification process is very long, and they ask for much personal information.

  2. eToro:

    It is one of the cryptocurrency exchange and trading platforms. This exchange mainly supports Bitcoin, Litecoin, Ethereum, Zcash, etc. in this exchange, people can make deposits through bank transfers, NETELLER, SEPA, PayPal, etc. Etoro promotes virtual cryptocurrency trading and investing within the USA and EU unregulated in most EU countries, not supervised by EU framework, including loss of principal, high volatility, no EU protections, and investments subject to market risks.

    eToro offers many unique features such as copy trading. This trusted exchange is active in traditional finance, and its interface is easy to use and clean. You cannot deposit money in cryptocurrency in this exchange, but you make deposits with any other payment method.

  3. Binance:

    It is one of the popular cryptocurrency exchanges in Mexico. This exchange mainly supports crypto-to-crypto trading, and now they have decided to start fiat currency trading in the future. Binance has its own BNB and native tokens that traders can use to avail of a 50 percent reduction in fees. That exchange was established in 2017 and has grown rapidly. Binance does not charge fees for depositing, and its standard trading fee is 0.1%. The crypto trading exchange pairs available are Bitcoin, BNB, USDT, and Etherum.

    Currently, the Binance exchange has more than 150 cryptocurrencies that are traded against bitcoin. Suppose any trader faces security issues, their team deals with the problem effectively and promptly. In binance, some issues arise related to accounts, but no user’s account has been hacked.

  4. Coinbase:

    Coinbase exchange name is like a synonym of cryptocurrency. They are the world’s largest bitcoin brokers. This exchange is best for beginners because it provides them with a fast and easy way to purchase bitcoins and other cryptocurrencies. Coinbase cryptocurrency exchange was founded in 2012, and they offer many different solutions like custodian solutions, institutional services, and exchanges for advanced trading.

    Coinbase exchange supports more than 30 countries like Europe, the UK, the US, Singapore, Australia, and Canada. They enable their customers to purchase bitcoin cash, bitcoin, Litecoin, Etherum with several different payment methods such as through debit cards, bank transfers, SEPA transfer, etc. traders get up to $ 36 when they sign up using coinbase earn.

    In coinbase, the exchange is user-friendly and inborn to use. Coinbase also has storage solutions that make it easy for users or traders to store their cryptocurrencies after purchase. Coinbase charges high fees on the selling and buying cryptocurrencies, and fees vary from method to method.

  5. Youholder:

    It is the crypto asset-based banking platform that provides other solutions to traditional banking. Youholder cryptocurrency exchange provides traders a platform that offers easy-to-use growth cryptocurrencies products and flexibility in managing fiat financial services and crypto. Do not think that youholder replaces traditional finances or a scheme of pushing its native tokens. This exchange model is simple; they offer clients services based on seamless conversion between crypto and fiat assets.

    The youholder enables their clients to use their crypto as collateral to get cryptocurrency loans and instant cash, earn up to 125 APR, and compound interest by depositing their crypto in youholder accounts; They enjoy universal conversion between fiat and crypto and stable coins.

  6. Gemini:

    Gemini is an approved, registered, licensed digital asset and cryptocurrency exchange based in New york. Gemini exchange is open for the residents of Mexico, the UK, the US, Hong Kong, South Korea, Japan, Canada, etc. in this exchange; traders can buy or sell all the digital assets.

    In addition, they secure their client’s digital assets in their account or wallet. Gemini cryptocurrency exchanges do two types of registration: institutional and personal. Gemini is a site for buying, selling, and trading cryptocurrency and acts as supervised trading activities, marketplace, and custodian.

    In this exchange, traders can make deposits via SEPA, wire transfer, or ACH transfers. Gemini trading transitions are practical, easy, and transparent. They provide 24/7 services to their customers, and their customers can store their funds in an offline Gemini cold storage system without worrying about safety.

    It is one of the trustworthy exchanges and charges the lowest fees in Canada and the US. However, this exchange has some drawbacks, like their system is somehow confusing for new traders to use, and their services are not yet available in the US.

  7. Poloniex:

    Poloniex was established in 2014, and it is an exchange of crypto to crypto. Poloniex has one complex exchange system that is complicated to use, and payment processors acquire it. This exchange offers a vast variety of crypto to crypto trading. This exchange currently has over 170 cryptocurrencies that are variable for trading against bitcoin. They also provide trading against Tether and Monero. One thing you should know is that it is the only exchange that trades against Monero.

    The lending feature of this exchange is viral. They provide high-margin trading to traders and have many bot services that automatically renew traders’ loans in search of attractive rates. They are now planning to start making fiat trading. No doubt poloniex has the cryptocurrency ecosystem, but it cannot become an ideal exchange site for beginners because trading in this is difficult.

  8. Bitstamp:

    It is a digital asset exchange platform that involves five cryptocurrencies; Bitcoins, Bitcoin Cash, XRP, Etherum, Litecoin. This site exchanges cryptocurrencies for their real-time value. They change the values immediately and quickly when changes happen in the market. They also display the currency’s value on their year-ending chart on their homepage. The graph shows the fluctuation in the currency and how much time the currency was still in the market. Bitstamp has a practical feature than others that they believe in to set their standard. And this is the feature that every other cryptocurrencies exchange needs to learn from them.

    Bitstamp provides the best services like buying, selling, and trading digital assets. They do not charge any hidden fees; they ensure their clients that their pricing is fair and transparent. In bitstamp exchanges, traders do not need to worry about trade deposits because they accept every credit card, so now traders can trade in bitstamp without any worry. In this exchange, traders’ digital assets are secure and safe because they are protected by multifactor authentication. They also started cold wallets services in which traders could store their funds.

Conclusion

Cryptocurrency market grows day by day. So many people start trading in cryptocurrency because they think that their money will grow more in the future. For dealing in cryptocurrencies, many exchanges began in different countries. In this article, we discussed the best cryptocurrencies exchanges in Mexico. I hope the information in the article related to cryptocurrency helps you in your trading, whether you are a beginner or an old trader.