The number of cryptocurrency exchanges is growing every year. There are currently 301 spot cryptocurrency exchanges according to the analytical portal Coinmarketcap. A high level of competition is connected with an increased demand for services such as trading, storage, and conversion of digital currencies. Crypto Shop is a platform to buy cryptocurrencies. Users can buy Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dash and Monero on the platform.
It might be difficult for new users to understand such a variety of crypto exchanges. So we are going to tell you about the TOP-5 Bitcoin exchanges to pay attention to in 2021.
Binance
This exchange was registered in Hong Kong. It is the best both in the number of users (more than 14 million per month) and in terms of trading volume — more than $80 billion per day. Binance offers 1,114 currency pairs for trading.
The fast-growing crypto exchange stands out also because it has its own coin — BNB. It is used to pay commissions, keep the ecosystem running, and staking.
Besides, the exchange offers low fees (around 0.1%) and fast transaction processing (up to 1.4 million transactions per second). You can enter any cryptocurrency without commission and verification is not required on the service.
Huobi Global
This Chinese crypto trading platform appeared in September 2013. Its average daily trading volume exceeds $12,3 billion, while the number of unique users per month is more than 800 thousand. 930 trading pairs are available for users.
The internal token of the exchange HT is used in the Huobi blockchain ecosystem to fund its activities. Thus, token holders can receive rewards in sub-tokens. Besides, users can expect an increase in the value of the asset due to the buyout and the “burning” of coins.
Huobi is the largest Chinese crypto exchange in terms of trading volume. The site developers pay special attention to safety. For example, Huobi uses a distributed hacking protection system, and 98% of assets are stored in “cold” multi-signature wallets. An independent professional system is used for asset valuation.
Godex
This rather young platform deserves to be on the list of the best crypto exchange platforms. It stands out for its decentralized control system. This means that the coins are not stored not on the exchange.
To start working on the site, you don’t need registration. All you got to do is visit the official website and proceed with the conversion in a couple of clicks.
There are almost all existing (200+) cryptocurrencies, so you can create any trading pair and switch coins in a matter of minutes. This site is ideal for both beginners and experienced players. Inexperienced users will appreciate the simplicity of the interface, while large traders will enjoy the lack of upper limits.
If you want to trade cryptocurrencies anonymously, then Godex is what you need. The platform does not store the personal data of its users, so you don’t have to bother about the safety of your personal information.
Besides, exchanging cryptocurrencies on this platform, you can expect the best exchange rate on the market. As you know, the prices of digital coins differ at different sites, so the Godex algorithm monitors the situation in real-time and provides its users with the most profitable option.
OKEx
The Asian Cryptocurrency Exchange was launched in January 2014. The daily trading volume is $30 billion, and the number of users is more than 600 thousand per month. A total of 684 cryptocurrency pairs are available for trading.
Like many other exchanges, OKEx uses its OKB token to reduce trading fees. The site’s clients get access to the most valuable information about blockchain and crypto trading, as well as the complex OKEX Pool.
The site supports 9 national currencies, commission-free deposits, and margin trading with one hundred tokens. Security is provided by two-factor authentication, SMS confirmation codes, and an additional password for trading operations.
BitMEX
The international bitcoin derivatives exchange was created in April 2014. Almost $4 billion in transactions are performed on the site every day.
The main feature of the BitMEX platform is quality tools for beginners. They can practice on a demo account as well as study detailed background material about crypto trading. Trading on the exchange using leverage is easy because you don’t need to calculate the order size and leverage. There is an exchange calculator to count the balance when opening a new position.
The main advantage of the BitMEX exchange is the absence of the KYC procedure. Bitcoin can be found by “XBT”. The deposit and withdrawal of assets to the platform occur only to the Bitcoin address while the rest of the coins are displayed only in the trading section interface.
Conclusion
Crypto trading has become quite an attractive occupation lately. Due to the high demand in the market, new exchanges are emerging. Each of them has advantages and disadvantages. Experienced traders use several platforms at once for different purposes. But if you are a beginner, we strongly advise you to understand how the cryptocurrency market works before starting trading.
