I don’t know if you have heard such a saying: There is a saying in the digital currency world that there is a “two-eight effect”, that is, 80% of traders are concentrated in the top 20% of the exchanges. There is a certain source of this sentence. First of all, choosing a compliant large-scale exchange definitely means that you can enjoy a high-quality trading experience, and you can also enjoy the security of funds with a higher safety factor.

Four well-known digital currency exchanges in the digital currency circle: Huobi, Binance, ZB.com and OKEx, these exchanges have obtained legal exchange licenses recognized by many countries.

The purpose of writing this article is to let newcomers in the digital currency circle better understand the pros and cons of these four major exchanges, so that everyone can compare and choose.

Binance:Just when Bitcoin was growing wildly again in 2017, Binance, as a dark horse, broke the situation that the old exchanges would continue to monopolize, and became a leader in domestic exchanges. Everyone must be impressed by Binance’s all-star lineup. Several sexy young ladies on the poster pose beautifully, and the founder Zhao Changpeng is a big figure in the digital currency circle. Binance even ranks high after the acquisition of CMC. The Binance website mainly provides services such as Binance Savings, Locked Savings, Flexible Staking, and Locked Staking. However, the biggest negative news about Binance in recent years is that Binance's website has been hacked many times, and it is rumored that users have suffered losses of up to 40 million.

Huobi:Huobi, as the older one among the four major exchanges, successfully entered the industry with the declaration of permanent free transaction fees and reached the first place in China in a very short period of time. It has to be said that Huobi's transaction volume and user volume are indeed huge, and it is very cautious in wealth management products, and it is still in the development stage. Huobi's first wealth management product, "Lending to Earn Coins", was launched about three months ago. It use leveraged business to control risks. However, in recent years, the rumors of Huobi's suspected "money laundering by hackers" have intensified. It has been reported that its risk control system has been paralyzed. It can be seen that the security of Huobi's OTC transactions really needs to be strengthened.

ZB.com:As a stable operation for seven years, ZB.com's reputation is still more praise than derogation. Founded in June 2013, it is the oldest among the four major exchanges. However, these years have been quietly making their own products, not making fancy publicity stunts, acting rather restrained, focusing on improving user experience and continuously developing products. The system has now formed a rich ecosystem that integrates currency trading, Fiat currency trading, leveraged trading, wealth management, ZAPP, a social terminal for tens of thousands of hot chats, and support for currency red envelopes and other product lines. However, some netizens complained that ZB.com's withdrawal speed is slower than other websites, and the withdrawal process is relatively complicated, which greatly affects everyone's enthusiasm for withdrawal, and ZB.com does not open contract transactions. It's confusing.

To sum up, no exchange is perfect, and of course there are some negative news, but compared to the insecurity of small exchanges, it is still much better. It is recommended that novices in the digital currency circle choose large exchanges with high security. Of course, the trading volume and service quality of the four major exchanges described above are not far from each other. You can make rational choices based on your reference.

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