Asked on 11 Aug 2018
It depends on what aspect you're interested in, so it'll be helpful if you can let us know more!
As a user, cryptocurrency exchanges are necessary if you're looking to get your hands on some tokens / cryptocurrencies. There are different ways to categorise & look at cryptocurrency exchanges. Here are some ways to look at them:
Centralised vs decentralised: Centralised exchanges (e.g. Coinbase & Binance) act as the middleman in storing your tokens & conducting your buy / sell orders, whereas Decentralised exchanges (e.g. IDEX) use smart contracts and other technologies (e.g. atomic swaps) to conduct your trades completely peer-to-peer. Generally, centralised exchanges are more usable and have greater liquidity, but represent a 3rd-party risk. Decentralised exchanges are theoretically more secure, but have lower liquidity and are less usable.
Fiat-to-crypto vs Crypto-to-crypto: Fiat-to-crypto (e.g. Coinbase & Coinhako) are usually used to exchange your SGD / USD to major cryptocurrencies (e.g. BTC / ETH / LTC), whereas your crypto-to-crypto exchanges (e.g. Huobi & Binance) help you exchange your cryptocurrencies to other cryptocurrencies.
Logically speaking, as a new user looking into cryptocurrencies, you'll use a fiat-to-crypto exchange such as Coinhako to acquire your major cryptocurrencies. If you want to own other cryptocurrencies, then you can use crypto-to-crypto exchanges such as Binance.
Hope this helps!
Not safe to use, few got hacked. Must buy hardware wallet to store your cryptocoins and ensure it is not connect to any network. Store your private ekey somewhere else safe also.
Go for established ones like Binance, Huobi etc.
Quite a few of them got hacked. I don't feel they are as safe as banks now. And crypto is losing their value now.
Blockchain is a good technology but crypto may or may not be useful. I feel the investment is too risky.