Understanding Crypto Exchanges
For those who have just taken an interest in the exciting element of crypto exchange, it is essential to clearly understand what this novelty actually is. In simple terms, a crypto exchange platform is a special site where any enthusiast can freely buy, sell, or trade a variety of digital assets. They were created to make the lives of both buyers and sellers easier and more convenient. A pipeline helps both sides understand how the trade is going to happen, what elements it includes, and how much money the parties will receive or spend on the asset.
What to Look For When Picking a Crypto Exchange, Israel
Certainly, there is, normally, a definitive list of platforms where enthusiasts can trade cryptocurrency safely and with little to zero risk. However, new websites and services emerge daily, and perhaps occasionally, you may encounter a site with smaller fees. So, it’s better to understand the criteria of a trustworthy platform.
Security matters
With worldwide technological development comes more interest in cryptocurrencies, and Israel is no exception in this respect. However, to avoid losing money or encountering fraudsters, it is essential to work with secure Crypto Exchanges only. Therefore, they should fit some important criteria.
Security considerations for trading in Israel are the following:
- When it comes to regulating cryptocurrency in Israel, ISA, or the Israeli Securities Authority, comes into play. They oversee the processes of trading cryptocurrency and issue regulations and guidelines to provide the best experience for those buying and selling crypto coins in Israel. What is more, strict Anti-Money Laundering regulations also act as a deterrent to illegal activities.
- Trying to pick the right platform means paying attention to the technical security measures they provide. Some of them may offer cold storage to protect crypto assets from hacking; certain platforms introduce two-factor authentication that requires another layer of verification, for example, a code from the phone, while others work with stronger security algorithms and encryption procedures.
- The best way to trade cryptocurrency safely is to bank on the insurance protocols that are activated on the occasion of hacking. Therefore, users may save at least some of their money in case of fraudulent activities.
Coins to Buy and Sell
The cryptocurrency market in Israel is especially rich in the variety of assets one can trade. Without any doubt, just like in any other country, platforms here offer major coins, namely Bitcoins and Ethereum. Moreover, a longer list of altcoins or memecoins also provides traders with exceptional opportunities. You can buy, for instance, Ripple or Cardano and add Dogecoin to your wallet. Nevertheless, the availability of crypto exchanges may also vary, and you may find certain coins unavailable. So, before you invest in coins, be careful and check the variety of coins available on individual platforms and the odds, too.
Number of Deals Made, a.k. Trading Volume
Another important factor here is the number of deals made or the amount of currency traded within a certain period. In other words, it is called Trading Volume, and the higher it is, the greater liquidity the platform offers. Just like in any other market, during crypto to crypto exchange, Israeli platforms can provide different levels of trading volume. More established usually attract higher volume and vice versa. Don’t forget to consider other factors while evaluating trading volume, such as market conditions or trading fees.
Israeli Cryptocurrency Trading Fees
While trading, any platform can charge its fees; we don’t make the rules here. At the same time, fees and their amount may vary significantly between platforms. Nevertheless, by analyzing them, one can easily figure out which platforms providing crypto exchange lowest fees are better for the trader.
We can break down all the fees into the following groups:
- Maker fee, charged when you place a limit order
- Taker fee, charged when you place a market order
- Withdrawal fee, charged when you withdraw cryptocurrency to external wallets
- Deposit fee, charged when you deposit currency
So, to find a better platform for trading, it is best to compare the fees beforehand. After all, apart from the fees, platforms may offer discounts or rebates, which you should keep an eye on.
Crypto Payment Options in Israel
It is difficult to imagine more freedom of choice when it comes to cryptocurrency in Israel. Traders can choose a method they wish, as the opportunities include bank transfers, credit or debit cards, or digital wallets. While picking the option, it is essential to consider factors like the purchase speed, fees, and security. However, before choosing one, you should ensure that this payment method is available on the platform where you will buy cryptocurrency.
Cryptocurrency Platforms: credible and safe
Be it crypto to crypto exchange or another, working with fraudsters should never be an option. But how can the credibility of a platform be assessed, and is it even possible at all? First, pay attention to the security measures undertaken by the platform. They may include 2FA, encryption, or cold storage. Second, the reputation and user reviews on the platform should be checked. Notice what they say about the site and its advantages and disadvantages. Sometimes, clients mention customer support, which is a vital element of any platform. Moreover, pay attention to compliance with the local law.
Best Crypto Trading Platform Selection in Israel
To clarify, let’s compare the most popular platforms in Israel in the following table.
| Platform | Cryptocurrencies | Fees |
| Plus500 | >2500 assets | From 0.08% |
| XTB | >1600 assets | 0.2 pips |
| Zengo Wallet | >70 assets | 0.25% |
| Kraken | >80 assets | 0.10-0.26% |
| Binance | >500 assets | From 0.12% |
| Eightcap | >700 assets | Up to $3.5 RT |
| KuCoin | >700 assets | From 0.1% |
| AvaTrade | >400 assets | From 0.13% |
| Coinbase Exchange | >240 assets | From 0.05% |
| Bybit | >250 assets | 0.1000% |
Cryptocurrency exchanges are the most secure way to participate in the cryptocurrency market. However, without additional knowledge and expertise, it can be easy to encounter all sorts of fraudsters, from unreliable sellers to fake websites mimicking the existing platforms. Go for the exchanges with a clean reputation only and follow our recommendations on choosing the most profitable crypto exchange in Israel for the top-rated crypto experience.