Cryptocurrency Exchange Review: Choosing the Best Platform for Beginners

Platform Overview

This is a centralized cryptocurrency exchange (CEX) founded in 2018. The platform offers a diverse suite of products and services, including spot trading, derivatives, copy trading, and asset management. According to CoinMarketCap rankings, it has consistently ranked among the top 20 spot exchanges in recent years.

The exchange has established a partnership with Chelsea, the renowned English professional football club, underscoring its global influence and credibility in the crypto industry.

Currently, the platform lists over 780 cryptocurrencies and more than 840 trading pairs, providing substantial variety for users. Its highest recorded daily trading volume reached $12 billion, and the exchange has attracted over 10 million users worldwide. With service coverage across multiple countries and regions, and support for nearly 20 languages, the platform demonstrates its commitment to an international user community.

Crypto Purchase Features

The platform supports three primary methods for purchasing crypto with fiat currency: Peer-to-Peer (P2P) Trading, Quick Buy, and Bank Deposit. Each is tailored to meet different user needs and scenarios.

Quick Buy Feature

The Quick Buy feature is a convenient solution that enables users to purchase leading cryptocurrencies such as USDT, BTC, or ETH using over 70 different fiat currencies. This flexibility makes it easy for users from various countries and regions to access the crypto market without fiat currency barriers.

The Quick Buy process is streamlined to complete in just a few simple steps, making it ideal for newcomers with limited crypto experience. Users simply select the cryptocurrency, enter the desired amount, and choose their payment method.

Trading Options

While the platform is suitable for buying and holding crypto, its core strength lies in advanced trading features. With sophisticated charting tools, real-time market data, and customizable trading strategies, the exchange equips users with everything needed for effective trading.

The main trading options currently available include:

• Spot Trading: The fundamental form of trading, involving the purchase or sale of cryptocurrencies at current market prices. Trades are executed instantly, granting users actual ownership of digital assets.

• Derivatives Trading: Financial contracts whose value is linked to the performance of an underlying asset, index, or interest rate. Derivatives trading allows investors to use leverage for greater profit potential, but also entails higher risk.

• Copy Trading: An innovative strategy that lets investors automatically replicate the trades of successful, experienced traders in their own accounts. This feature is particularly beneficial for beginners seeking to learn from experts.

• Grid Trading: An automated quantitative trading strategy using bots to buy and sell assets within a set price range. This approach capitalizes on minor market fluctuations to generate profits.

Derivatives Trading

The platform currently offers two primary futures contract types: Standard Futures and Perpetual Contracts. Each contract type features distinct characteristics and use cases to support various trading strategies.

Futures contracts are categorized by collateral type:

• USDT-M (USDT-Margined): Futures contracts collateralized and settled in Tether (USDT), a stablecoin pegged 1:1 to the US dollar. This structure helps reduce price volatility risk by using a stable asset as collateral.

• COIN-M (Coin-Margined): Futures contracts collateralized and settled in cryptocurrencies such as Bitcoin (BTC) or Ethereum (ETH). This contract type is suitable for traders seeking higher exposure to specific cryptocurrencies.

Derivatives trading enables users to employ high leverage, creating opportunities for substantial profits from small price movements. However, this also means greater downside risk, requiring users to have appropriate knowledge and experience.

Spot Trading

Spot trading on the platform provides access to over 780 cryptocurrencies and more than 840 trading pairs. This includes leading coins like Bitcoin and Ethereum, as well as a wide selection of altcoins and emerging tokens—serving investors with diverse needs.

The spot trading interface is intuitively designed with professional-grade charting tools, enabling effective market analysis. Users can leverage various order types, including market orders, limit orders, and stop-loss orders for comprehensive risk management.

Copy Trading

Copy trading is a standout feature, granting users access to strategies from experienced traders worldwide. Recently, this feature has facilitated over 8 million copy relationships, underscoring its popularity and effectiveness.

Users can browse top traders, review historical performance, win rates, risk levels, and other key indicators before deciding whom to copy. The system then automatically executes proportional trades in the user’s account.

This feature is especially valuable for beginners who lack market experience or analysis time. It enables them to learn from experts while still benefiting from executed trades.

Grid Trading

Grid trading is an advanced algorithmic strategy using bots to automatically place buy and sell orders based on a predetermined price grid. These bots do not attempt to predict market direction—instead, they seek to profit from natural market fluctuations, whether prices rise or fall.

The platform offers three grid trading strategies:

• Spot Grid: Designed for spot markets, suited for moderate volatility and sideways trends.

• Futures Grid: Built for futures markets, allowing leverage to maximize gains from price swings.

• Infinity Grid: An advanced variant with no upper price limit, automatically adjusting to market trends.

Users can also develop personalized grid trading strategies based on their own analysis and expectations, including setting price ranges, grid count, and investment per order.

Grid trading is especially effective in highly volatile, trendless markets, automating trading while capturing every profit opportunity.

P2P Trading

P2P (Peer-to-Peer) trading is a user-friendly service for exchanging fiat and cryptocurrencies directly between buyers and sellers—no intermediaries required.

When a trader posts a sell ad, the corresponding cryptocurrency amount is automatically deducted from the seller’s account and held in escrow. This crypto remains frozen throughout the transaction to protect both parties, released only upon order cancellation or successful completion.

The P2P system supports multiple payment methods, including bank transfers, e-wallets, and payment cards, offering maximum flexibility. A user rating and review system enhances transactional trust and reliability.

Asset Management Services

Wealth is an integrated asset management platform for earning passive income from digital assets. Its two primary earning products are Shark Fin and Simple Earn, each serving different investment objectives.

Shark Fin Product

Shark Fin is a structured financial product that guarantees principal safety. It enables you to earn returns by predicting whether certain cryptocurrencies will rise or fall within a specified timeframe.

This product balances capital protection with higher yield potential. If the prediction is correct, users can earn higher returns than conventional savings products. Even if the prediction is wrong, principal remains intact, with earnings reduced to a minimum guaranteed level.

Simple Earn Program

Simple Earn is a flexible savings program that lets you deposit idle funds for steady returns. Simple Earn supports 50+ cryptocurrencies, allowing users to diversify portfolios and optimize returns.

The program offers two main options:

• Flexible: Allows withdrawals anytime—ideal for users who need flexibility.
• Locked: Requires assets to be locked for a fixed period (7, 30, 90 days, etc.) in exchange for higher interest rates.

Interest accrues daily and is automatically credited to your account, enabling compounding benefits.

Deposit Methods

An important note: the platform does not support direct fiat deposits to the exchange. Users must use indirect methods such as:

• Buying crypto through Quick Buy using a credit/debit card
• Using P2P services to purchase crypto from other sellers
• Transferring crypto from external wallets or other exchanges

The lack of direct fiat deposit may inconvenience some users, but it also helps the platform reduce regulatory and compliance risks in different jurisdictions.

Rewards Hub

The Rewards Hub is a dedicated platform designed to incentivize and reward users for their activity and engagement. Users can earn a variety of rewards by participating in daily logins, completing trading tasks, and engaging in social media activities.

The Rewards Hub offers several reward types:

• Mystery Box: Offers random rewards, including bonuses, vouchers, and trial funds. Users open the box to receive a surprise prize.

• Bonus: Can be used as margin in futures trading to boost trading capital. Bonuses cannot be withdrawn directly, but all profits generated from them may be withdrawn to your bank account.

• Rebate Voucher: Reduces trading fees so users can save on frequent transactions.

• Trial Funds: Usable as margin for opening trading positions and to cover funding fees or losses.

This reward system increases user engagement and provides extra resources for trading and exploring platform features.

Academy

The platform features an Academy designed to simplify the crypto trading journey for both beginners and experienced traders. It delivers a wealth of educational content, including in-depth articles, video guides, and detailed tutorials on various crypto topics.

Topics covered include:

• Blockchain and cryptocurrency fundamentals
• Trading feature guides
• Trading strategies and risk management
• Technical and fundamental analysis
• Market news and trends

The Academy helps users master the platform and gain deeper insights into the crypto market, empowering smarter investment decisions.

Account Registration Guide

Account registration is simple and fast, requiring just a few minutes:

Step 1: Visit the website: Go to the official exchange site. Find the blue oval “Sign Up” button in the top-right corner.

Step 2: Choose a registration method: On the “Get Started” page, select from three options: email, mobile phone, or instant login with Google. Choose the best fit for you.

Step 3: Security verification: If registering by email, a verification PIN will be sent to your inbox. Retrieve the 6-digit PIN from the platform’s email and enter it to confirm.

Step 4: Explore your account: After entering the verification code, you’ll be redirected to your account dashboard. Here, you can explore account features, enable advanced security like two-factor authentication (2FA), or complete KYC to unlock all platform features.

Completing KYC enhances account security, unlocks advanced features, and increases transaction limits.

Fee Structure

The platform applies a competitive, transparent fee structure, covering conversion, withdrawal, standard and perpetual futures trading, and spot trading fees.

Spot Trading Fees

Spot trading fees are set at 0.1% for both makers and takers—very competitive versus industry leaders.

• Maker Fee: Applies when submitting a limit order that adds liquidity to the order book.
• Taker Fee: Applies when placing a market order or a limit order that matches immediately, removing liquidity.

The platform also offers a VIP tiered fee schedule based on 30-day trading volume. Higher volume earns lower rates. Top-tier VIPs enjoy fees as low as 0.005% for makers and 0.02% for takers, delivering significant savings for high-volume traders.

Derivatives Trading Fees

Derivatives fees differ by contract type:

• Perpetual Futures: 0.02% for makers and 0.05% for takers
• Standard Futures: 0.045% for both makers and takers

Perpetual contracts also incur a funding fee every 8 hours, based on the spread between perpetual and spot prices.

Deposit and Withdrawal Fees

The platform charges no crypto deposit fees, allowing users to transfer assets in at no extra cost. Note minimum deposit requirements may apply per cryptocurrency.

For withdrawals, a fixed fee per transaction is required, set by the underlying blockchain and subject to network congestion. For example, Bitcoin withdrawals typically cost more than Litecoin or TRX due to network factors.

A 0.2% conversion fee is charged when depositing a cryptocurrency different from your account’s balance type. For example, depositing BTC to a USDT account will trigger automatic conversion and a 0.2% fee.

Customer Support Services

The platform offers a range of customer support channels:

• 24/7 online support: Live chat (via Zendesk) for immediate assistance from the support team.

• Help Center: A robust knowledge base featuring guides, FAQs, and video tutorials for self-service troubleshooting.

• Training guides: Comprehensive documents and videos on using platform features.

• Email support: For more complex queries, users can contact support via email.

Despite these channels, some online reviews note room for improvement in response times and resolution quality.

Future Development Plans

The platform has reached key milestones over its six-year history. In 2022, it surpassed 5 million users globally; the following year, that figure grew by over 350%, reflecting remarkable momentum.

The “ExpansionX” strategy targets:

• Growth in new markets: Expanding into new geographies, especially high-potential emerging markets.

• Service localization: Delivering local-language interfaces and support, tailoring products to specific market needs.

• Strategic partnerships: Collaborating with financial institutions, technology firms, and major brands to extend the ecosystem.

• Platform innovation: Continuously enhancing technology, adding features, and improving user experience.

• Regulatory compliance: Working closely with regulators to ensure legal, compliant operations worldwide.

• Local community engagement: Hosting events, educational programs, and community initiatives to build lasting user relationships.

USDC Futures Trading Upgrade

Soon, the platform will introduce USDC (USD Coin)-margined futures trading for enhanced capital efficiency. As a highly regulated, reliable stablecoin, USDC support will offer users additional trading choices and flexibility.

Launchpad and Launchpool Launch

The platform will debut Launchpad and Launchpool in the spot trading section—allowing users to participate in new token projects prior to public listing:

• Launchpad: Lets users buy new tokens at discounted rates during initial exchange offerings (IEOs).
• Launchpool: Allows staking existing tokens to earn new project tokens as they launch.

Additionally, the platform will roll out lending services, enabling users to pledge tokens as collateral to borrow other cryptocurrencies or stablecoins, increasing liquidity without selling assets.

Plans also include expanding complex financial products such as:

• Dual Currency Notes: Structured investments offering high yields from two currencies.
• Accumulators/Decumulators: Derivative products for buying or selling assets at advantageous prices.
• Snowball Products: Investments with cumulative returns over time.

Expanding Global Reach

The platform is set to grow rapidly, especially in burgeoning crypto markets like Turkey, Vietnam, and Argentina—all featuring young, tech-savvy populations and growing crypto interest.

The expansion strategy includes:

• Setting up representative offices in key markets
• Partnering with local firms to strengthen brand presence
• Hosting events and educational seminars on crypto
• Supporting popular local payment methods

Commitment to Social Responsibility

The platform pursues a sustainability strategy closely linked to social responsibility, aiming for both profitability and positive community impact.

In 2022, it launched a $10 million charity fund. In 2023, the fund donated 1 million Turkish Lira to rescue efforts following Turkey’s earthquake, helping thousands of people.

Looking ahead, the charity fund plans to expand community outreach. The platform is partnering with Whale and Dolphin Conservation and a leading video platform to produce a documentary raising awareness about marine animal captivity.

Other social responsibility initiatives include:

• Supporting blockchain and crypto education in underserved communities
• Sponsoring green and sustainable technology projects
• Supporting nonprofits in education and healthcare

Pros and Cons

Advantages

• Competitive trading fees: Some fees are lower than industry averages, especially with the tiered VIP structure. The transparent, straightforward fee schedule makes cost calculation easy for users.

• Global accessibility: Supporting nearly 20 languages and present in numerous countries—especially emerging markets—the platform enables users worldwide to access services easily.

• Diverse crypto selection: With over 780 cryptocurrencies and more than 840 trading pairs, the platform meets the needs of beginners and professionals alike.

• Advanced trading features: Additional tools like grid trading and copy trading help users optimize investment strategies.

• Passive income opportunities: Wealth (Shark Fin, Simple Earn) and the Rewards Hub help users maximize returns from idle assets.

• User-friendly interface: The intuitive design serves both newcomers and experienced traders.

• Comprehensive educational resources: The Academy provides extensive materials to enhance user knowledge of crypto and trading.

Disadvantages

• Customer service requires improvement: According to some online feedback, support response times and resolution quality need enhancement.

• Limited product range: Compared to larger exchanges, the platform offers fewer financial products and services. Some complex derivatives and DeFi services are not yet supported.

• No direct fiat deposit support: The absence of direct fiat deposit may inconvenience certain users, especially beginners.

• Licensing and regulatory disclosure: While compliance is a stated priority, detailed licensing information for specific jurisdictions is not fully disclosed.

• Centralization risk: As a CEX, the platform carries inherent security and asset control risks, in contrast to decentralized exchanges (DEXs).

FAQ

What is a cryptocurrency exchange? How does it work?

A cryptocurrency exchange is an online platform that lets users buy, sell, and trade cryptocurrencies. It connects buyers and sellers through a secure system, with trades executed via order books at real-time market prices.

How do I choose the right cryptocurrency exchange for beginners?

Select an exchange with robust security, support for a wide range of cryptocurrencies, and an intuitive interface. Check user reviews, trading fees, and customer support. Favor reputable, legally compliant platforms.

What are the most important criteria for evaluating an exchange's safety and reliability?

Key factors include legal operating licenses, established track record, secure wallet and private key management, system stability, trading volume, a professional team, and positive user feedback.

How do centralized (CEX) and decentralized (DEX) exchanges differ?

CEXs involve third-party asset management, while DEXs operate without intermediaries. CEXs offer speed; DEXs offer greater security. Choose based on your needs.

What are the trading fees on different exchanges and how are they calculated?

Trading fees usually range from 0.05% to 0.25% of transaction volume, based on your total traded amount. Some exchanges offer preferential rates if you hold their native token or reach high trading volumes.

How can I protect my account and digital assets on an exchange?

Use a strong, unique password, enable two-factor authentication (2FA), update your security software regularly, and never share your private keys to safeguard your assets.

Which exchanges are recommended for beginners?

Beginners should choose exchanges with intuitive interfaces, strong security, responsive customer support, and reasonable fees. Leading platforms typically offer detailed guides, secure identity verification, and ample liquidity for seamless trading.