Here is an overview of the top five crypto exchanges that both new and old users can continue pitching tents with this year.
The digital currency ecosystem is growing at a very fast pace, and crypto exchanges are helping to provide a faster and more reliable gateway for people looking to interact with these nascent asset classes. According to data from CoinMarketCap, there are at least 299 spot crypto exchanges in operation, most of which have their inherent uniqueness.
For traders looking to buy some cryptocurrencies or tokens, choosing the best trading platform to pitch tents with can be a very daunting task. This article gives an overview of the five best trading platforms where they can start their research. While this is no recommendation, the ideas herein can save traders and prospective investors time and stress in holistically reviewing a platform to trade with.
Top Crypto Exchanges to Patronize
Here are the top 5 crypto exchanges that traders can patronize to meet their investment needs, they are profiled in no particular order;
Binance exchange is recognized as the world’s largest crypto exchange for its daily trading volume. The trading platform is known for providing one of the most cost-efficient trading experiences for both retail and institutional traders alike.
With over 395 coins and more than 1,682 markets, Binance has arguably earned its rank as one of the biggest around. The exchange also plays a very vital role in the broader cryptocurrency ecosystem and for this, it is always in the crosshairs of top media. The exchange was recently accused by Reuters of processing at least $2.35 billion in crypto connected to illegal and money laundering activities.
While Binance has denied these claims, it should be noted that the exchange helped in recovering at least $$5.8 million of stolen funds from Axie Infinity’s Ronin Bridge. The exchange may have its struggles, but it sure is amongst the most trusted platforms around today.
Kraken is an American trading platform that is ideal for more experienced crypto traders. While newbies can also get a hang of its UI-rich platform, its advanced order types, on-chain staking, biweekly payouts, and crypto futures notably distinguishes it.
Kraken exchange, according to data from CoinMarketCap, hosts about 190 coins. The exchange is particularly ideal for high-volume traders who are in search of comparatively lower fees. Kraken Exchange is not supported in most regions, so it would help to confirm if they operate in your environment.
Coinbase Global Inc (NASDAQ: COIN) is a publicly-traded cryptocurrency trading platform that is highly user-friendly and ideal for those just getting into the crypto ecosystem. The trading platform is highly ranked with over 202 coins and 560 markets per CoinMarketCap’s data.
Coinbase exchange has obligations to its investors and in a bid to cut costs, it recently retrenched 18% or 1,100 of its staff. For a trading platform that pays attention to customer satisfaction, there is no indication that Coinbase will reduce its excellent services with the new staff changes.
Coinbase has a comparatively higher fee, and this comes off as a major drawback for the exchange.
MyCointainer brandishes one of the widest range of tradable tokens among the profiled exchanges on this list. The trading platform supports more than 300 trading pairs with no fees.
The company has taken on the liberty of providing free access to various crypto reward mechanisms for first-time crypto buyers. This unique feature has made MyCointainer a very straightforward and accessible trading platform, especially for newbies.
As an emerging exchange platform, MyCointainer is continuously evolving and expanding its services beyond crypto trading capabilities. Many crypto holders choose this platform to unlock other ways to earn interest annually – cold staking.
Founded by the renowned Winklevoss Twins, the Gemini exchange has earned a reputation for being a diverse trading outfit with about 100 coins and 124 markets. Gemini has a lot of security features in place including FDIC insurance, private insurance for hot wallets, and support for U2F hardware keys.
Just like Kraken, high-volume traders may particularly find Gemini a perfect platform as it brandishes an Active Trader platform users can embrace block trading, auctions, and access charting.
Exchanges are going to remain relevant in the emerging Web3.0 world as many are offering products and services that go beyond just trading. These profiled platforms have more features than was described, and they evolve on a daily basis in line with market trends.
Prospective clients should attempt to do more research about these outfits before deciding which one works best for their trading needs.
Disclaimer: The opinions and views expressed in this article are solely those of the author and are not necessarily shared by Coinspeaker. We recommend you conduct the necessary research on your own before any investment and trading move.
CEO and Co-Founder of MyCointainer, an entrepreneur with over 15 years of experience in shaping global digital products. Previously, Bartosz worked in multiple industries, including investment banks such as Barclays & Deutsche Bank in London. Bartosz launched MyCointainer in 2018. In 2022 MyCointainer announced that it has raised $6 million in a seed round.