Many newbies in the crypto space usually ask what exchange is best for trading. As a matter of fact, there is no specific correct answer to that question. However, there are several crypto exchanges or trading platforms with different unique features.
In this article, I will talk about some exchanges I have used and the features that make them unique. I will also be including an affiliate link through which you can register on any of the centralized exchanges. Registration is free, and you may get a commission if you register with my link, depending on the exchange and their commission structure. I may also get a commission. So let’s dive in!
Binance
Binance is the world’s largest crypto exchange. This means it has the highest liquidity. Thus, it is easy to buy and sell cryptocurrencies on the platform. When buying a coin on the exchange, the spread or difference between buying and selling prices is usually negligible. Because of the voluminous orders on the exchange, buy and sell orders are completed swiftly.
Binance also allows its users to stake some selected coins or tokens. The exchange supports the staking of more than 60 different tokens, including ETH, BNB, and BUSD. You can earn over 10% annually from staking tokens on the platform. This is a good option for long-term investors as they’ll benefit from the coin’s long-term appreciation and earn extra rewards from staking.
It is equally possible to take crypto loans on Binance. Also, the centralized exchange has a peer-to-peer function with lots of buyers and sellers. This massive volume of buyers and sellers aids price regulation on the platform.
You can create a Binance account using the link below.
Gate.io
Gate.io is another reliable platform for trading cryptocurrencies. The main advantage Gate.io has over other exchanges is its price comparison feature. This feature allows users to compare the entry price for a coin they purchased with the current price of the token.
Many traders and investors I have spoken with sometimes admit that they have failed to keep tabs on the entry price or the price they bought a particular cryptocurrency. They sometimes don’t know whether they are in profit or loss, especially for holders of multiple assets. This is understandable since most cryptocurrency prices can be difficult to memorize—for example, XRP at $0.236 or KLV at $0.00134.
Gate.io relieves you of the stress of knowing all the figures off-hand. The wallet section shows the price a coin was purchased and the current price of the token.
If you want to create an account with gate.io, you can do that with the link below.
Latoken
Latoken exchange is another excellent crypto exchange. Although it is relatively new compared to many other exchanges, it is safe to use. The exchange has gathered a lot of positive reviews from various individuals all over the globe.
Latoken advertises a lot of airdrops that users can benefit from. Also, some crypto gems that aren’t found in some major exchanges can be purchased on Latoken. Some of these gems yield much more profit than blue-chip coins. However, it would be best to be careful while selecting a coin to invest in. Coins with a smaller market capitalization are typically more risky investments than high-cap coins. Always do proper research before investing in a token.
If you would like to create an account on Latoken, you can do so using the link below.
MEXC
The MEXC exchange, also called MXC, is becoming more popular every day. Contract trading option is available on the platform, and it also has a great user interface. Like Latoken, some hidden or unpopular tokens can be purchased on the platform.
If you want to create your MEXC account, you can register with the link below.
Kucoin
If there’s one thing I like Kucoin for, it is its fantastic user interface. To me, it has the best interface when compared to other exchanges. However, this is a personal opinion, and other users may not share the same sentiment. Kucoin also has the futures trading feature and margin trading, which some exchanges lack.
Interestingly, Kucoin has some unique coins like KCS. KCS is the native token of the Kucoin exchange, and rewards and bonuses from the exchange are usually gifted to users with the token. Typically, the value of an exchange’s token appreciates as the exchange grows. However, like any other token, the token can also lose value depending on market conditions. As you must have heard a million times, always do your research before investing in any token.
You can buy KCS or register on Kucoin with the link below.
OKEx
OKEx is one of the largest exchanges in the world. It is seen by many as a competitor with Binance. One thing OKEx is popularly known for is its user rewards. They reward new users for signing up, reward referrals, reward active traders who hit trading milestones, and so forth.
If you love receiving rewards or extra bonuses while trading, you can sign up on OKEx using this link.
Phemex
Phemex is another reliable crypto trading platform. It functions at an optimum level. However, I will only recommend it for traders who trade with a vast sum of money. Most of the user rewards offered on the platform are only beneficial to traders with ample funds. The unique selling point of Phemex is that there are no fees for trading. However, Phemex users pay a yearly subscription of $60. Traders who use a lot of funds to trade will definitely find this beneficial as the amount of money incurred in fees yearly is much more than $60. However, Phemex may not be the right option for you if you trade in bits.
You can create a Phemex account using the link below.
Closing Thoughts
All the exchanges mentioned above are exchanges that many other traders and I have used. We can vouch for these exchanges based on the great experiences we’ve had while using them. Kindly note that there are a lot of other exchanges that also have great features. If any Crypto exchange was omitted in this article, it doesn’t mean that such an exchange isn’t reliable. As a trader or someone who wants to venture into trading, there are limitless options for you to use to trade, and one medium article alone cannot cover all the centralized exchanges in detail.
