Among 600+ crypto exchanges, which one should you pick?
Crypto exchanges vary with transaction fees, coin availability, and level of safety.
Coinbase is one of the largest cryptocurrency exchanges with 98M+ users.
It supports 50+ cryptocurrencies, and more will be listed.
But the transaction fee is pricey.
Binance is often praised for its low transaction fees of 0.1% and its user-friendly interface.
You can buy and sell 80**+** cryptocurrencies on the Binance exchange.
It doesn’t require KYC (Know your customer) info, like name, phone number, address, picture of you, etc.
But lacks transparency.
Kraken features strong-level security, low transaction fees, and supports trading with 97 different cryptocurrencies.
Compared to Coinbase, Binance, and Kucin, Kraken is poor in extensive crypto financial services.
CoinList is a token sales platform that offers new tokens before they list on larger exchanges.CoinList has tools for pro and casual traders. CoinList.co offers a fiat on-ramp and buy/sell tool for major cryptoassets like BTC, ETH, and SOL and recently launched tokens like CSPR, MINA, and FLOW.CoinList Pro is their centralized spot exchange with all the features that professional traders expect.
Matcha is a DEX (Decentralized Cryptocurrency Exchange) aggregator on Ethereum.
Aggregators combine networks to find the user’s best rate.
Matcha can be used to connect with leading DEXes like Uniswap, Balancer, Curve, and Kyber.
Gemini lists 62 cryptocurrencies and is known for its security, reliability, and transparency.
Its product Gemini Earn allows users to earn up to 8.05% APY on their crypto balances.
The con is that the transaction fees are comparatively high.
If you are interested in margin and perpetual trading in a decentralized manner, then dYdX is recommended.
It has no gas fees when trading perpetuals or swapping supported assets.
But it has only 3 assets available for swaps: ETH, DAI, and USDC.
Defi swap is a decentralized exchange that offers instant token swaps, yield farming, and staking.
It will soon be incorporating an NFT feature into the exchange.
Like Sushiswap and PancakeSwap, it is an automated market maker (AMM) that features liquidity pools.
Users can earn fees from staking, lending, and yield farming in Uniswap.
But the gas fees are higher than the average.
PancakeSwap is a DEX built on the Binance Smart Chain (BSC).
It has low transaction costs and doesn’t have KYC.
But you can be exposed to impermanent loss in liquidity pools.
SushiSwap is a DEX built on the Ethereum blockchain, listing 299 cryptocurrencies and 9 stablecoins.
It increases rewards for network participants through the native token SUSHI, trying to differentiate itself from Uniswap.
But the transaction fees are high.
Curve is a DEX built on top of the Ethereum blockchain with low transaction fees and high liquidity.
It mainly focuses on stablecoins, listing 40+ cryptocurrencies.
Its layout and designs are good fits for retro fans.
Balancer is a DEX, Automated Market Maker (AMM), and Liquidity Pool protocol.
The gas fees are low, and users can add up to eight assets to the pools.
But there is a risk of malicious tokens.
1inch is a DEX aggregator, featuring low transaction fees and high liquidity.
It supports trading in over 250 cryptocurrencies and launches a gas token CHI to reduce fees.
But it lacks fiat deposits and cannot be used by users who don't already possess cryptocurrencies.
Crypto.com serves 10M+ customers worldwide across 90 countries.
It is an all-in-one crypto services platform offering trading, investing, lending, earning interest, DeFi, and NFTs.
The drawback is that it’s banned in NY and 40 of the coin offerings are restricted in the US.
KuCoin offers 500+ coins to trade and provides secure digital asset trade and management services.
It tends to list lesser-known and promising small-cap cryptocurrencies.
But it’s not licensed in US, so it will bring restrictions on how much one can withdraw, leverage access.
FTX is a global exchange with top 3 trading volume.
It features a competitively priced and low fee schedule.
FTX offers over 323 cryptocurrency market offerings and over 492 pairs including margin trading and futures.
Many great crypto exchanges are out there!
DYOR and dig in!
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