People join the crypto market for a variety of reasons, from entrepreneurs who wish to establish unhindered international trade to professional investors aiming to diversify their assets and increase profitability. To ordinary people who’re simply curious to try their hand at a new way of making money. No matter your reason, it’s still desirable to carry out deals in the easiest and safest way possible. That's what you’ll need a crypto trading platform for.
Crypto exchanges are converters that allow users to exchange one form of digital currency for another. But instead of buying crypto from the platform, you buy it from other users. On a crypto exchange, you usually place orders to buy or sell crypto at specific prices. Once another user puts out a sell order for the same coin at a cost that matches or is lower than the buy order, the platform automatically matches these orders.
Here are a few things that crypto trading platforms facilitate for the clients:
- Crypto conversion. If you have the Chilean peso or Ethereum, but you want to buy Bitcoin, you need to find a person who wants to sell Bitcoin in exchange for these currencies. Crypto exchanges make this search very simple and fast.
- Making higher profits. If you have plenty of people to trade with, you have a choice of what price to agree on. It results in more lucrative deals.
- Cheaper and more accessible international transactions. When trading in crypto, you can avoid lengthy review procedures, compliance issues when it comes to international regulations, and high commissions that banks impose.
- User protection. If you trade directly, you never know who is on the other end of the deal and whether they stick to the agreement or not. Crypto exchanges often propose mechanisms to mitigate these risks and ensure fair trading.
- Special features. Spot trading, margin trading, futures contracts, and other expanded trading opportunities enable users to participate in various forms of trading activities.
То sum up, choosing the right crypto exchange is essential for smooth and secure trading. So, let’s move on to discussing the features of a good crypto exchange, Chile, and how to tell it apart from an untrustworthy one!
| Top Crypto Exchanges in Chile | |||
| Exchange Name | Coins Quantity | Fees | Payment Methods |
| Binance | 500+ | 0.1% (spot) | bank transfer, credit and debit cards, P2P |
| OK | 350+ | 0.08% - 0.1% per trade | crypto deposits, P2P via third-party processors |
| Orionx | 30+ | 0.2% - 0.5% per trade | bank transfer, crypto |
| Buda | 20+ | 0.4% (maker)/0.8% (taker) | bank transfer |
| Libertex | 50+ | 0% trading fee, spread | bank transfers, credit/debit cards |
| CryptoMKT | 15+ | 0.5% per trade | bank transfer, credit/debit cards |
Best Crypto Exchange in Chile: Selection Criteria
With all the benefits a crypto exchange has, it all is in vain if you pick an unreliable one. If a crypto trading platform doesn’t make enough efforts to protect the assets of its clients, it may be vulnerable to hacking attempts. Besides, you might run into some hurdles when dealing with things like transaction mix-ups or difficulties getting into your account.
It’s a predicament no one wants to face, so there’s a rule to follow. The key factors to watch out for are safety protocols, transaction fees, the range of cryptocurrencies available, the platform's liquidity, and reputation. Each of these elements has a crucial impact on the efficiency of your trading experience and the protection of your funds.
Below, we’ll take a closer look at each of them separately.
Security Measures
Good exchanges typically are clear about the actions they take to ensure the safety of your money. Look for platforms that implement 2FA (two-factor authentication), encrypt their databases, and hold most of the users’ funds in secure offline storage. Also, in Chile, exchanges must comply with local regulations to minimize the risks of fraud and hacking.
Cryptocurrency Assortment
While it’s easy to find such popular coins as Bitcoin and Ethereum, users who search for newer or more specialized coins may find themselves dismissing platform after platform. It's safe to say that if it's your case, major platforms with regular listing of new coins are more suitable for you.
Exchange Liquidity
Liquidity matters because it affects how fast and profitable you can buy and sell digital coins. In the Chilean market, high-liquidity platforms help prevent delays and slippages. So, if you’re an active trader with large trading volumes, you don't want the selling price of your asset to suddenly drop before you manage to close the deal.
Transaction Fees
Every exchange applies varying fees for trades, deposits, and withdrawals. Some Chilean exchanges target beginners with their low fees, while others lure big-volume crypto users with fees that drop the more you trade.
Deposit and Withdrawal Methods
The convenience with which you can make deposits in Chilean pesos or withdrawals to your bank account is crucial. Consider if it’s essential for you to have an opportunity to make direct CLP transfers or if you don’t mind taking extra steps.
Exchange Reputation
Seek out exchanges with a proven track record of dependability, clarity, and a high level of customer service. Check its background for any scandals and security failures, and consider both negative and positive user reviews when making up your mind.
Crypto Exchange Platforms in Chile: Recap
With cryptos, Chilean users can send digital money around the world in minutes, protect their personal assets from inflation, or engage in staking and lending crypto to others. And to do this, they need a convenient platform to meet people with similar interests.
No matter if you're a new user or a pro, you won’t do without a safe platform with affordable fees, plenty of user activity, diverse coins, and convenient payment options.