Exchangify: Compare Top Cryptocurrency Exchanges Together?
What Is Exchangify?
Exchangify is a digital platform that enables users to find and compare the best cryptocurrency exchanges. It is the most advanced exchange comparator available. Besides, it is easier to use. To get started, users only need to choose the ‘Buy/Sell’ tab, select the currency they want to buy and the one they would like to pay with. They also need to enter their country of residence and the method of payment.
Common modes of payment include bank transfer, PayPal, Visa, and MasterCard. However, the platform also accepts cash, Amex, AdvCash, and more.
Exchangify Areas Of Operation
Exchangify considers an exchange to be operating globally when it has an English version if its website and if they report no restricted countries in their Terms and Conditions. Restricted countries happen in two conditions: either the country is under economic sanction or a country has issued a ban on cryptocurrencies.
Some of the countries that are currently under economic sanction by the EU, USA, or UN are available. Some of the countries that have currently issued a ban on cryptocurrencies include China, Bangladesh, Ecuador, India, Nigeria, and more. If an exchange reports a particular country that is not named above, then the platform considers that exchange operational worldwide. If an exchange requires users to sign up in one particular language, then it’s considered available and active in the resident country only.
Exchangify Compare Top Cryptocurrency Exchanges
Sometimes it’s possible to miss a particular cryptocurrency in the dropdown list. Why does this happen? Exchangify currently works with cryptocurrencies with a market cap of higher than 1 million US dollars. This enables the platform to run smoother and to update prices and volumes faster. Exchangify believes that 1 million dollars is a good cut-off, as this ensures that top 500 cryptocurrencies are indexed.
When it comes to calculating volumes, the platform uses the exchange’s API to determine its base volume. The platform then converts the volumes into USD by multiplying them by the last reported USD price of the coin or token on CoinMarketCap. The sum of the USD volumes makes up the total exchange 24-hour volume.
Exchangify Fee Schedules
Exchagify classifies fee schedules into four different systems:
- Flat rate
For an exchange that reports a maker/taker system, but the fee is the same, it’s classified using the flat rate system. A fixed fee system refers to a system in which every trade, regardless of size, always incurs the same trading fee.