Different cryptocurrency exchanges you should know about
In the rapidly growing crypto market, investors and traders have a variety of options when it comes to choosing a crypto exchange. With so many different exchanges available, it can be overwhelming to find the right platform that suits your needs. Each exchange offers its own unique features and benefits, making it crucial to understand the options at hand and the differences between them.
These platforms serve as gateways to the world of cryptocurrencies, allowing users to buy, sell, and trade various coins. Some exchanges cater to beginners with user-friendly interfaces and easy-to-understand processes, while others target experienced traders with advanced features and trading tools. The diversity in offerings ensures that individuals with different levels of expertise and investment goals can find a suitable exchange.
When comparing crypto exchanges, it is important to consider factors such as security, fees, liquidity, and the number of available coins. Some exchanges may offer a wide selection of coins, allowing users to trade popular cryptocurrencies like Bitcoin, Ethereum, and Ripple, as well as lesser-known altcoins. Others may focus on offering a limited but carefully curated selection of coins, ensuring quality over quantity.
Overall, by conducting a comprehensive comparison of leading crypto exchanges, investors and traders can make informed decisions that align with their individual preferences and trading strategies. Whether you are a novice looking for a beginner-friendly platform or an experienced trader seeking advanced tools, understanding the options and variety of features available across different exchanges is essential for success in the crypto market.
Different Crypto Exchanges: A Comprehensive Comparison of Leading Platforms
Cryptocurrency trading has become increasingly popular in recent years, with a growing number of individuals and institutions looking to invest in digital assets. As a result, there has been a surge in the number of crypto exchanges available in the market. Each platform offers a unique set of features and benefits, making it essential for traders to understand the different options before making their investment decisions.
One of the key factors that sets crypto exchanges apart is the variety of coins that they support. While some platforms have a limited selection of cryptocurrencies, others offer a wide range of options, allowing traders to diversify their portfolios and take advantage of the fluctuations in the crypto market. It’s important to research and compare the available coins on each platform to find the one that aligns with your investment goals.
In addition to the variety of coins, it’s crucial to consider the different trading features offered by crypto exchanges. Some platforms focus on simplicity and ease of use, making them ideal for beginners, while others cater to advanced traders with advanced order types and charting tools. Understanding your trading style and preferences can help you choose a platform that meets your needs.
Furthermore, the security and regulation of a crypto exchange should be a top priority for any trader. It’s important to choose a platform that employs stringent security measures to protect your funds and personal information. Additionally, some exchanges operate within a regulated framework, providing an added layer of protection and accountability.
Overall, comparing different crypto exchanges is crucial for traders who want to make informed investment decisions. By considering factors such as coin variety, trading features, security, and regulation, traders can select the platform that best aligns with their needs and investment goals.
Key Factors to Consider When Choosing a Crypto Exchange
When deciding on a crypto exchange, there are several key factors to consider to ensure you are making the best choice for your trading needs.
Variety of Coins
One important factor to consider is the variety of coins available on the exchange. Different exchanges offer different coins, so it’s important to choose one that supports the crypto assets you are interested in trading. Look for exchanges that have a wide selection of coins to choose from, as this will give you more options for diversifying your portfolio.
Trading Options
Consider the trading options available on the platform. Some exchanges offer advanced trading features such as margin trading, futures contracts, and options trading. If you are an experienced trader looking for more advanced trading opportunities, make sure the exchange you choose offers these options.
Crypto platforms
It’s also important to consider the overall platform of the exchange. Different exchanges have different user interfaces and trading tools, so it’s important to choose one that is intuitive and easy to use. Look for exchanges that offer a user-friendly interface and provide the necessary trading tools you need to succeed in the market.
Market and Liquidity
Consider the market and liquidity of the exchange. Look for exchanges that have a high trading volume and liquidity, as this will ensure that you can easily buy and sell your desired crypto assets without encountering any issues. Exchanges with a large market and liquidity tend to have tighter bid-ask spreads, reducing the impact of fees on your trading profits.
To make an informed decision when choosing a crypto exchange, it’s important to consider these key factors. By evaluating the variety of coins, trading options, platform usability, and market liquidity, you can choose the platform that best suits your trading needs.
Binance: The Largest Crypto Exchange by Trading Volume
Binance is widely recognized as the largest cryptocurrency exchange by trading volume. With a variety of coins available for trading, Binance provides crypto enthusiasts with a platform to buy and sell different cryptocurrencies.
One of the main advantages of Binance is its extensive selection of coins. Traders can access a wide range of cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, and many more. This variety allows users to diversify their portfolios and take advantage of different market opportunities.
Binance offers a user-friendly interface and advanced trading features. Traders can choose from different trading platforms, including spot, margin, and futures trading. The platform provides trading tools such as limit orders, stop orders, and market orders, empowering users to implement their trading strategies.
Security
Binance places a strong emphasis on security. The exchange implements several security measures to protect user funds, including two-factor authentication, withdrawal whitelist, and cold storage for the majority of funds. Binance also conducts regular audits and security assessments to ensure the safety of its users’ assets.
Global Market Presence
Binance has a global presence and serves users from different parts of the world. The exchange provides support for multiple languages and offers customer service to assist users with any queries or concerns. Binance aims to create a seamless trading experience for users worldwide.
In conclusion, Binance stands out as the largest crypto exchange by trading volume due to its wide variety of coins, user-friendly platform, robust security measures, and global market presence. Whether you are a seasoned trader or a beginner, Binance offers a comprehensive trading experience on one of the most reputable cryptocurrency exchanges in the market.
Coinbase: A Popular and User-Friendly Exchange
When it comes to crypto trading platforms, Coinbase has emerged as one of the leading options for both beginners and experienced traders. Known for its user-friendly interface and extensive range of available coins, Coinbase provides a seamless and convenient trading experience.
One of the key strengths of Coinbase is its wide variety of coins available for trading. Unlike some other exchanges that have a limited selection, Coinbase offers a diverse portfolio of cryptocurrencies, allowing users to explore different options and diversify their investments. Whether you’re looking to trade Bitcoin, Ethereum, Litecoin, or a range of other popular coins, Coinbase has got you covered.
In addition to the vast selection of coins, Coinbase also stands out for its sleek and intuitive platform. The user-friendly interface makes it easy for newcomers to navigate and execute trades, while offering advanced trading tools and options for more experienced traders. With a clean layout and straightforward design, Coinbase ensures that anyone can get the hang of trading in no time.
Another advantage of Coinbase is its robust security measures. The platform takes the protection of user funds seriously, implementing industry-standard security protocols such as two-factor authentication and cold storage. This gives users peace of mind knowing that their investments are safe and secure.
Competitive Fees and Extensive Market Coverage
Coinbase also stands out due to its competitive fees and extensive market coverage. The platform offers transparent fee structures, ensuring that users know exactly what they are paying for each trade. Additionally, Coinbase provides access to a wide range of markets, allowing traders to capitalize on various opportunities and react to market fluctuations.
Conclusion
In conclusion, Coinbase has earned its reputation as a popular and user-friendly crypto exchange. With its wide variety of coins, intuitive platform, robust security measures, competitive fees, and extensive market coverage, Coinbase is an excellent choice for anyone looking to enter the world of crypto trading.
Kraken: A Secure and Trusted Platform
Kraken is a leading crypto exchange in the market that offers a wide range of options for trading various digital coins. With the increasing popularity of cryptocurrencies, it is essential to choose a reliable and secure platform to protect your investments.
Kraken stands out among the different exchanges due to its strong commitment to security. The platform has implemented robust measures to ensure the safety of users’ funds and personal information. Kraken utilizes advanced encryption techniques and offers two-factor authentication (2FA) for enhanced account security.
One of the key advantages of Kraken is its extensive selection of cryptocurrencies available for trading. The platform supports a large number of coins, including Bitcoin, Ethereum, Litecoin, and many others. This wide range of options allows traders to diversify their portfolios and take advantage of different market trends.
Additionally, Kraken offers a user-friendly interface that is suitable for both beginners and experienced traders. The platform provides various trading options, including spot trading, margin trading, and futures trading. This flexibility enables users to choose the trading method that suits their individual preferences and strategies.
When it comes to fees, Kraken offers competitive rates compared to other platforms in the market. The fees vary depending on the trading volume and the specific services used. However, Kraken strives to maintain transparent pricing and provides a detailed fee schedule on its website.
In conclusion, Kraken is a secure and trusted platform that offers a wide range of crypto trading options. With its commitment to security, extensive coin selection, user-friendly interface, and competitive fees, Kraken is an excellent choice for both beginners and experienced traders.
Bitstamp: Catering to Both Retail and Institutional Investors
When it comes to cryptocurrency exchanges, there are a variety of platforms to choose from. Each platform offers different trading options and coins, catering to the needs of different investors. Bitstamp is one such platform that stands out in the market.
Platform Features
Bitstamp is known for its user-friendly interface, making it an ideal platform for both beginners and experienced traders. The platform offers a wide variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more. This allows users to diversify their portfolios and take advantage of different investment opportunities.
Bitstamp also offers margin trading, which allows users to borrow funds to amplify their trading positions. This feature is particularly beneficial for experienced traders who want to maximize their potential profits.
Catering to Retail and Institutional Investors
Unlike some exchanges that primarily focus on retail investors, Bitstamp caters to both retail and institutional investors. This is evident in their extensive list of trading pairs and the high level of security they provide.
For retail investors, Bitstamp offers a user-friendly platform with low transaction fees. This makes it a popular choice for those who are just starting out in the crypto world or are looking for a reliable and cost-effective way to trade cryptocurrencies.
On the other hand, institutional investors can benefit from Bitstamp’s advanced features, such as its REST and WebSocket APIs. These APIs allow institutional investors to integrate Bitstamp’s trading capabilities into their own systems and execute high-volume and automated trades.
In addition, Bitstamp provides a high level of security for all users, regardless of their investor type. They utilize industry-leading security measures, including two-factor authentication and cold storage for funds. This gives investors peace of mind knowing that their assets are safe and secure.
In conclusion, Bitstamp is a versatile and robust platform that caters to both retail and institutional investors. With its variety of trading options, wide range of coins, and high level of security, Bitstamp is a reliable choice for anyone looking to enter the world of cryptocurrencies.
Gemini: A Regulated Exchange with Strong Security Measures
Gemini is one of the leading crypto exchanges in the market, offering a variety of options and coins for traders. As a regulated exchange, Gemini has established itself as a trusted platform for buying and selling cryptocurrencies.
One of the key advantages of Gemini is its strong security measures. The exchange adheres to strict regulatory guidelines, which helps to protect user funds and ensure the integrity of the platform. Gemini also employs advanced security technologies, such as two-factor authentication and cold storage, to safeguard against potential hacks and theft.
When it comes to the variety of coins available on the platform, Gemini offers a decent selection. While it may not have the extensive range of some other exchanges, it does support popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. This makes it a suitable choice for traders looking to invest in the major coins.
Gemini also stands out for its ease of use and intuitive interface. The platform provides a user-friendly experience, making it simple for beginners to navigate and execute trades. Additionally, Gemini offers a mobile app for trading on the go, further enhancing accessibility for users.
In terms of liquidity, Gemini boasts decent trading volumes, particularly for the major coins. This ensures that users can easily buy or sell their crypto assets at a desirable price, without experiencing significant slippage.
Overall, Gemini is a reliable and secure option for trading cryptocurrencies. With its regulatory compliance, strong security measures, and user-friendly interface, it has positioned itself as a reputable exchange in the market.
Huobi: A Global Crypto Exchange with a Wide Range of Trading Pairs
Huobi is one of the leading crypto exchanges in the market, offering a wide range of trading pairs for users to choose from. With over 200 listed coins and tokens, Huobi provides crypto traders with plenty of options to diversify their portfolios and take advantage of different market opportunities.
Unlike some other exchanges, Huobi is a global platform that serves users from around the world. It has established a strong presence in various regions, including Asia, Europe, and the United States, making it accessible and convenient for traders worldwide.
With Huobi, traders can access a variety of trading options, including spot trading, futures trading, and options trading. This makes it a versatile platform that caters to different trading strategies and preferences.
Furthermore, Huobi offers a range of advanced trading tools and features to enhance the trading experience. Users can take advantage of features like real-time market data, customizable charts, and trading indicators to make informed trading decisions.
In terms of security, Huobi has implemented industry-leading measures to protect user assets and information. It uses advanced encryption technology to secure user data and funds, and it also offers two-factor authentication for added security.
When compared to other crypto exchanges, Huobi stands out for its wide range of trading pairs, global presence, and advanced trading features. Whether you are a beginner looking to explore the world of crypto trading or an experienced trader seeking new opportunities, Huobi offers a platform that caters to your needs. With its strong reputation and reliable services, Huobi is undoubtedly a top choice for crypto traders across different platforms.
KuCoin: Providing an Extensive Selection of Altcoins
When it comes to different trading options and a variety of coins, KuCoin stands out among the exchanges and platforms in the market. Offering a wide range of altcoins, KuCoin provides users with ample opportunities to diversify their investment portfolios.
One of the key advantages of KuCoin is its comprehensive selection of altcoins. While many exchanges primarily focus on major cryptocurrencies like Bitcoin and Ethereum, KuCoin goes above and beyond by offering a plethora of lesser-known altcoins. This allows traders to take advantage of emerging trends and potentially invest in promising projects at an early stage.
KuCoin’s commitment to offering a diverse range of altcoins is evident in its extensive list of supported tokens. From well-established coins to newly launched projects, KuCoin provides traders with an array of options to choose from. This vast selection ensures that users can explore different investment opportunities and tailor their strategies according to their preferences and risk tolerance.
In addition to its wide selection of altcoins, KuCoin also distinguishes itself with its user-friendly interface and intuitive trading features. The platform’s advanced trading tools and charts enable users to analyze market trends and make informed decisions. With its straightforward navigation and comprehensive trading options, KuCoin caters to both beginner and experienced traders.
Key Features of KuCoin |
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Extensive selection of altcoins |
User-friendly interface |
Advanced trading tools and charts |
Secure and reliable platform |
Overall, KuCoin stands out as a leading crypto exchange that provides an extensive selection of altcoins. With its commitment to offering a variety of trading options and its user-friendly interface, KuCoin appeals to traders looking to explore different investment opportunities in the ever-evolving crypto market.
OKEx: Offering Innovative Financial Products
When it comes to different crypto exchanges, OKEx stands out for its wide variety of options in the crypto market. As one of the leading trading platforms, OKEx offers a plethora of coins and financial products for traders and investors.
With OKEx, users have access to a diverse range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and many others. The platform allows traders to buy, sell, and trade these different coins, providing opportunities for profit in the dynamic market.
What sets OKEx apart from other exchanges is its innovative approach to financial products. In addition to regular trading, the platform offers advanced derivatives trading options, such as futures and options contracts. Traders can take advantage of these products to hedge their crypto holdings or speculate on price movements.
OKEx also provides a variety of trading tools and features to enhance the trading experience. The platform offers spot trading, margin trading, and perpetual swaps, giving traders different ways to participate in the market.
Moreover, OKEx is well-regarded for its security measures and user-friendly interface. It employs strict security protocols and cold storage options to ensure the safety of users’ funds. The platform also provides a seamless trading experience with its intuitive interface, making it easy for beginners to navigate.
Whether you are a seasoned trader or a novice investor, OKEx offers a comprehensive trading experience with its innovative financial products and diverse range of coins. With its emphasis on security and user-friendly interface, OKEx is a reliable choice for those looking to engage in the crypto market.
Bitfinex: A Leading Exchange with Advanced Trading Features
When it comes to crypto exchanges, there are a variety of platforms to choose from. However, Bitfinex stands out as one of the leading exchanges in the market. With its advanced trading features and user-friendly interface, Bitfinex offers a unique trading experience for crypto enthusiasts.
Advanced Trading Options
Bitfinex provides traders with a range of advanced options to enhance their trading strategies. The platform supports various order types, including limit orders, market orders, and stop orders. This allows traders to execute their trades with precision and flexibility.
Additionally, Bitfinex offers margin trading, which enables users to trade with borrowed funds. This feature can potentially amplify profits, but it also carries higher risks. Traders can choose from different leverage options, depending on their risk appetite and trading goals.
A Wide Selection of Coins
Bitfinex offers a diverse range of cryptocurrencies for trading. With over 200 different coins available on the platform, users can easily find their preferred assets and take advantage of market opportunities. The exchange continuously expands its list of supported coins, ensuring that traders have access to the latest coins in the market.
Furthermore, Bitfinex provides users with the option to trade against various trading pairs. Whether it’s Bitcoin, Ethereum, or other altcoins, traders can easily navigate the platform to find the most suitable trading pairs for their strategies.
In conclusion,
Bitfinex is a leading crypto exchange that offers advanced trading features and a wide range of coins for trading. With its variety of platforms and options, traders can take advantage of the dynamic crypto market and explore different trading opportunities. Whether you are a beginner or an experienced trader, Bitfinex provides the tools and resources to meet your trading needs.
Bithumb: South Korea’s Largest Cryptocurrency Exchange
Bithumb is the largest cryptocurrency exchange in South Korea, offering a wide variety of trading options. As one of the leading platforms in the market, Bithumb provides users with access to a diverse range of coins and tokens for trading.
Trading Options
Bithumb offers a comprehensive range of trading options, catering to both beginner and advanced traders. Users can choose between spot trading, margin trading, and futures trading, depending on their preferences and risk tolerance.
Different Platforms
Bithumb provides users with different platforms to facilitate their trading experience. The platform offers both web-based and mobile applications, allowing users to trade conveniently on their preferred devices. Whether you prefer to trade on your desktop or on the go, Bithumb has got you covered.
Additionally, Bithumb also offers an API for users who wish to integrate their trading strategies with external platforms or build their own trading bots.
With its user-friendly interfaces and advanced trading features, Bithumb is suitable for traders with different levels of experience.
Market and Coins
Bithumb supports a wide range of cryptocurrencies, including leading coins such as Bitcoin, Ethereum, and XRP, as well as numerous altcoins and tokens. The exchange provides access to both major and emerging markets, allowing users to diversify their portfolios and take advantage of various investment opportunities.
Furthermore, Bithumb actively seeks to expand its selection of tradable assets, regularly listing new coins based on market demand and credibility assessments, ensuring that users have access to the latest and most promising projects in the crypto space.
In conclusion, Bithumb stands out as South Korea’s largest cryptocurrency exchange due to its extensive trading options, different platforms, and wide variety of coins supported. Whether you are a beginner or an experienced trader, Bithumb offers a reliable and convenient platform to engage in the exciting world of cryptocurrencies.
Coincheck: Catering to the Japanese Market
When it comes to trading on crypto exchanges, there are a variety of options available for investors. Different exchanges cater to different markets and offer a variety of coins to trade. One such exchange is Coincheck, which is known for its focus on the Japanese market.
Japan has long been a prominent player in the crypto space, with a significant number of traders and investors. Coincheck recognizes this and has tailored its platform to meet the specific needs and preferences of the Japanese market.
One of the key features that sets Coincheck apart from other exchanges is the wide range of options it offers for trading. Users can trade a variety of crypto coins, including popular options like Bitcoin, Ethereum, and Litecoin, as well as lesser-known coins that are specific to the Japanese market.
Trading Options | Supported Coins |
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Spot Trading | Bitcoin, Ethereum, Litecoin, XRP |
Marginal Trading | Ethereum Classic, Bitcoin Cash, Lisk, Monacoin |
Futures Trading | NEM, Dash, Augur, Cardano |
This variety of trading options allows users to diversify their portfolios and take advantage of different market trends. It also gives investors the opportunity to explore and invest in up-and-coming coins that are specific to the Japanese market.
In addition to its diverse range of trading options, Coincheck also ensures the security and reliability of its platform. The exchange has implemented robust security measures to protect user funds and personal information.
In conclusion, Coincheck is a leading crypto exchange that caters to the Japanese market. With its wide variety of trading options and support for a range of crypto coins, it offers Japanese investors a platform to explore and invest in the ever-changing world of cryptocurrencies.
Upbit: A Prominent South Korean Cryptocurrency Exchange
When it comes to trading cryptocurrencies on exchanges, there are numerous options available in the market. Upbit is a prominent South Korean crypto exchange that stands out among the different platforms.
With the ever-growing crypto market, Upbit provides users with access to a wide variety of coins and trading pairs. This allows investors to have the flexibility to choose from different cryptocurrencies and explore various trading opportunities.
What sets Upbit apart from other exchanges is its strong presence in the South Korean market. South Korea has emerged as one of the major players in the crypto space, and Upbit has played a significant role in this growth. As such, Upbit has established itself as a reliable platform for crypto enthusiasts in the region.
One of the key advantages of Upbit is its user-friendly interface, which makes it easy for both beginners and experienced traders to navigate through the platform. The exchange provides a seamless trading experience and offers advanced trading features for those looking to take their trading to the next level.
Furthermore, Upbit ensures the security of users’ funds through robust measures, such as cold storage and two-factor authentication. This gives traders peace of mind knowing that their assets are safe on the platform.
In conclusion, Upbit is a prominent South Korean cryptocurrency exchange that offers a variety of trading options in the crypto market. With its strong presence in the South Korean market, user-friendly interface, and emphasis on security, it has become a reliable platform for crypto traders looking to explore different trading opportunities.
HitBTC: Supporting a Wide Range of Cryptocurrencies
When it comes to the crypto market, there are many different trading coins and exchanges to choose from. One of the platforms that stands out is HitBTC, due to its wide variety of supported cryptocurrencies.
HitBTC offers a vast selection of coins for traders to choose from, making it a popular platform for those who want to invest in a diverse range of cryptocurrencies. Whether you are interested in well-known coins like Bitcoin and Ethereum, or you prefer to explore new and emerging altcoins, HitBTC has you covered.
Compared to other exchanges, HitBTC’s extensive collection of supported coins sets it apart. This variety allows traders to take advantage of unique investment opportunities and stay ahead in the ever-evolving cryptocurrency market.
Furthermore, HitBTC provides a user-friendly platform that makes it easy for traders to navigate and execute trades efficiently. The platform offers advanced trading tools and features, enabling users to make informed decisions and maximize their trading strategies.
Whether you are a beginner or an experienced trader, HitBTC’s diverse range of supported cryptocurrencies and intuitive platform make it a top choice among cryptocurrency exchanges. If you are looking for a platform that offers a wide variety of coins and user-friendly trading options, HitBTC should definitely be on your radar.
Question-Answer:,
Which are the leading crypto exchanges in the market?
The leading crypto exchanges in the market include Binance, Coinbase, Kraken, Bitstamp, and Gemini.
What factors should I consider when choosing a crypto exchange?
When choosing a crypto exchange, you should consider factors such as security, fees, available cryptocurrencies, user interface, liquidity, and customer support.
Which crypto exchange has the lowest fees?
Among the leading crypto exchanges, Binance has the lowest fees. Its fee structure is competitive and offers discounts for holding BNB, the exchange’s native cryptocurrency.
Which crypto exchange has the largest selection of cryptocurrencies?
Binance has the largest selection of cryptocurrencies, with over 200 different coins and tokens available for trading. It offers a wide range of options for both popular and less-known cryptocurrencies.
What are some alternative crypto exchanges that are gaining popularity?
Some alternative crypto exchanges that are gaining popularity include FTX, KuCoin, Bybit, and Bitfinex. These exchanges offer unique features and services that attract traders and investors.
What are the main factors to consider when choosing a crypto exchange?
When choosing a crypto exchange, there are several key factors to consider. These include security measures, fees and commissions, available cryptocurrencies, user interface and experience, customer support, and liquidity. It’s important to find an exchange that meets your specific needs and aligns with your trading goals.
Which crypto exchanges have the lowest fees?
Some crypto exchanges have lower fees compared to others. For example, Binance offers competitive fees, especially if you use their native token, BNB, to pay for trading fees. Kraken also has relatively low fees, especially for larger volume traders. It’s always a good idea to compare the fee structures of different exchanges before making a decision.
Are all crypto exchanges equally safe?
No, not all crypto exchanges are equally safe. The level of security can vary depending on the exchange. It’s important to choose an exchange that has strong security measures in place, such as two-factor authentication, cold storage for funds, and regular security audits. It’s also a good idea to research the exchange’s history and reputation in the crypto community to ensure they have a track record of protecting user funds.
Which crypto exchanges offer the most diverse range of cryptocurrencies?
There are several crypto exchanges that offer a wide range of cryptocurrencies. Binance is known for its extensive selection of cryptocurrencies, with hundreds of options available for trading. Coinbase also offers a diverse range of cryptocurrencies, although the selection is more limited compared to Binance. It’s always a good idea to check the list of available cryptocurrencies on an exchange before signing up.