A large number of crypto exchanges operate in the digital asset market and choosing the right one is not an easy task: you need to analyze the technical capabilities of the platform, study its history and compare the working conditions with other platforms.
To simplify the task, you can make a rating of the best crypto exchanges of 2021. It includes 5 popular cryptocurrency exchanges for trading digital assets: StormGain, Binance, Kraken, BitMEX and Bitfinex.
1.Kraken is probably the world’s most well-known and secure exchange
Jesse Powell, the founder and CEO also has an excellent reputation within the crypto space, as do many leading figures in the team, and that inspires a lot of confidence.
Unlike other exchanges (e.g. Coinbase) Kraken only accepts bank or wire transfers and you will not be able to deposit or withdraw funds using a debit or credit card.
2.StormGain is an anonymous and secure crypto exchange.
The platform was launched in July 2019. Project CEO – developer Alex Alfausen. StormGain has functionality for margin trading and investing. A demo version of the account and a section with video tutorials for beginners are also available on the crypto exchange.
StormGain is easy to register. To buy cryptocurrency, you will need to confirm your mobile phone number and email address. After that, the user will be able to purchase digital assets for fiat by paying with a bank card.
The exchange’s refusal to collect full name and other personal information is an important advantage of StormGain. Platform users can be confident that their data will not leak into the network. Also, anonymous work allows you to avoid attention to cryptocurrency transactions from regulators.
The main focus of StormGain is creating simple solutions for anonymous trading. In addition to basic trading tools, the developers also offer a referral system and a loyalty program. For example, when registering using the link, you can receive 25 USDT to replenish your deposit.
Due to the opportunity to get a bonus at the beginning of the work, many consider StormGain to be the best crypto exchange for newbies.
During its existence, the cryptoexchange has never been hacked. There are no scandalous incidents in the history of the project.
Among the disadvantages of the exchange, users attributed a small selection of cryptocurrencies.
3.Binance is the largest crypto exchange with an audience of 40 million
Binance crypto exchange was launched in July 2017 by programmer Changpeng Zhao, who previously worked on the development of another crypto project – the OKCoin trading platform.
Binance is a centralized cryptoexchange. Identity verification is required for full-fledged work on this site. The project also launched a decentralized version of the site – Binance DEX. The platforms differ in their approach to organizing trades. The decentralized exchange has fewer working instruments and trading pairs, but its level of security is higher. The project is registered in Malta, but according to the regulator, Binance does not have a local license. The statement by the country’s authorities was the reason for discussing the real location of the company’s headquarters.
In one of the interviews, Changpeng Zhao stated that the Binance office is where he is. The specialist declined to give the exact address, citing a large number of company offices around the world.
He explained that Binance is a new type of organization. The company, in his opinion, does not need to go through the traditional registration procedures.
The minimum fee for a deal on the spot market is 0.0120% of the transaction amount, the maximum is 0.1000%.
On the forums, you can find comments that the exchange rates are unprofitable compared to other platforms, as well as problems with logging in from some browsers. But most of the reviews on Binance are positive.
4.BitMEX is a cryptocurrency exchange and derivative trading platform.
It is owned and operated by HDR Global Trading Limited, which is registered in the Seychelles and has offices worldwide.
BitMEX is highly rated and one of the safest exchanges for margin trading cryptocurrencies. And that’s because very few people know how to margin trade cryptocurrencies and not many reviews are available for the same. But concerning reviews related to margin trading, it is no doubt BitMEX is the one of the best in business.
5.Bitfinex is a centralized cryptoexchange that survived the biggest hack.
The exchange was founded in 2012. The CEO of Bitfinex is Jean-Louis van der Velde.
Bitfinex is is registered in the Virgin Islands. In order to gain access to all the site’s functionality, including replenishment of the account with fiat, user verification is required. The exchange offers the purchase of assets from bank cards.
The company is working on advanced technical solutions. So, at the end of March 2020, Bitfinex launched a service for the automated detection of suspicious transactions. A little later, a functionality for cryptocurrency staking appeared on the platform.
The standard Bitfinex functionality is friendly and intuitive. Additional services are available for advanced users and institutional investors. For example, a professional trading center with functionality for creating sub-accounts, a separate support service and accelerated verification.
In August 2016, there was an attack attempted. Unknown people stole 119 756 BTC, of which 28 were returned. Hacking has become one of the largest theft episodes in the history of cryptocurrencies. Two years later, the stolen coins began to move. Specialists tracked them down but could not return them.
Bitfinex has been subjected to multiple DDoS attacks. One of them – in December 2017 – ended with a significant drop in the bitcoin rate. At the end of February 2020, a DDoS attack was again committed on Bitfinex, as a result of which the platform was disrupted.
This was a quick review of the best cryptoexchanges in the market. Depending on specific needs, each of the presented exchanges has its own advantages and disadvantages. Which crypto exchange is better, everyone should choose based on their preferences.
Do you have any investment experience? Share your opinion in the comments below! I will be happy to answer any questions or submit your project to my team at Astorts Group for evaluation.
Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the CEO of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.