What are the formal exchanges in the currency circle?

Formal exchanges are regulated cryptocurrency trading platforms that comply with anti-money laundering and know-your-customer regulations, providing a safe and reliable trading environment. For example, global exchanges include Binance, Huobi, and Ethereum, US exchanges include Coinbase, Gemini, and Kraken, and European exchanges include Bitstamp, Luno, and Bitpanda. The benefits of choosing a formal exchange include: security, transparency, compliance, credibility and convenience.

Formal exchange in currency circle

What is a formal exchange?
Formal exchanges are cryptocurrency trading platforms regulated and authorized by national or regional financial regulatory agencies, comply with anti-money laundering (AML) and know your customer (KYC) regulations, and provide a safe and reliable trading environment.

Characteristics of formal exchanges:

• Hold a business license issued by the government
• Comply with national or regional financial regulations
• Adopt KYC/AML verification mechanism
• Provide high security measures (such as: multiple verification, Cold wallet storage)
• Has good reputation and customer reviews

List of formal exchanges in the currency circle:

Global exchanges:

• Binance
• Huobi
• OKX

US exchange:

• Coinbase
• Gemini
• Kraken

European exchange:

• Bitstamp
• Luno
• Bitpanda

Choose regular transactions Advantages of the exchange:

• Safe and reliable: Protect user assets through supervision and security measures.
• Transparency: Comply with regulatory requirements and transaction records are clear and traceable.
• Compliance: Comply with financial regulations and avoid legal risks.
• Reputation Guarantee: Have good reputation and customer reviews.
• Convenience: Provides a convenient transaction interface and multiple payment methods.

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