Crypto markets are hot property once again and traders are looking to get in on the volatility of the crypto markets. But which are the top exchanges to consider in 2021? In this article, Crypto.com.cy reviews the top 10 exchanges to look out for in 2021.
As the crypto bull run sees more and more new traders joining the fray, the common question becomes, “Where do I buy bitcoin (BTC)?” While seasoned traders and crypto investors know where to go, the newbies usually have no clue.
Ranging from centralized, derivatives, and decentralized exchanges (DEX), we look at the vast array of top quality exchanges that are worth keeping an eye on, in the future.
Changelly exchange starts off the list. Founded in 2015, the non-custodial exchange is well known for exchanging cryptocurrencies without users’ funds sitting on an exchange.
With an offering of over 150 cryptocurrencies, users can exchange cryptocurrencies through the Changelly website or mobile apps available on Android and iOS.
Changelly also boasts over a million visitors monthly. With fast transactions, 24/7 live support, and a reputation stemming over six years, Changelly is an exchange that can be trusted to deliver when needed.
Crypto.com is a centralized exchange well known for running an initial coin offering (ICO) in 2017. The project has since undergone a rebrand from Monaco to Crypto.com, where it paid $12 million for the domain name it now operates under.
The project has come a long way since its ICO, now offering an exchange, a debit card service, a crypto payments solution, as well as a decentralized finance (DeFi) wallet. Crypto.com now overseas roughly $284 million in daily volume and offers a mobile application for iOS and Android to manage users funds for exchange or for card spending.
Stormgain newcomer on the list, Stormgain has grown in popularity recently for its leverage trading. Stormgain currently has over 120,000 users in over 100 countries. Users have the ability to exchange, trade, and store eight of the top cryptocurrencies. The project allows users to purchase cryptocurrencies using a credit card or bank transfer.
Stormgain is predominantly known for its leverage trading which offers a mouth water 200x leverage for those looking to live dangerously. The exchange also features a mobile app for android, iOS, and Huawei.
eToro commonly known as a social trading and multi-asset brokerage, eToro has entered the cryptocurrency fray and now even offers a crypto-specialized exchange in the form of eToroX.
eToroX offers professional crypto services for corporate and institutional grade crypto traders. The popular exchange is currently doing over $467 million in daily volume on eToroX.
eToro is well known as being the world’s leading social trading platform. Most certainly worth keeping an eye on in 2021.
Bittrex known as one of the older cryptocurrency exchanges, Bittrex is well known for being the most popular exchange in early 2017, before the bull market that saw bitcoin hit $20,000. Bittrex unfortunately was not able to handle the influx of new traders, and Binance stepped in to take the market share. More on them later.
Bittrex offers a huge array of cryptocurrencies, approximately 315 different coins to trade on the globe exchange. Bittrex is also available on iOS and Android.
FTX is a relatively new exchange on the market. But don’t be fooled. The exchange is currently doing around $7 billion in daily trading volume. It focuses on trading of derivatives and is quickly growing in popularity. Touted as being a cryptocurrency exchange built by traders for traders. The exchange does not fail to deliver.
FTX currently offers derivatives, spot, prediction, volatility, and even recently adding stock markets to their exchange. The exchange also features an over-the-counter (OTC) for whales who need fast settlement with zero fees and tight spreads. FTX also features a well designed mobile app for all platforms.
Coinbase easily the most popular exchanges in North America, Coinbase was founded in 2012. One of the oldest exchanges on the list, Coinbase boasts over 43 million verified users in 100 countries.
Coinbase currently does over $5.7 billion in daily volume. Featuring over 44 cryptocurrencies, the exchange has remained a vital gateway for Americans to access the cryptocurrency space. Coinbase offers fiat gateways for ease of use. Also, the exchange is insurance-backed, which is pretty convenient.
SushiSwap Following the rise of decentralized exchanges, new decentralized exchange SushiSwap makes the list as one of the popular exchanges to keep an eye on in 2021. With a whopping $446 million in daily volume, the exchange has grown in popularity as users seek to move off of centralized exchanges.
SushiSwap also offers yield farming, a form of generating interest through staking of crypto assets. The DeFi craze has certainly favored the new exchange which looks to rival Uniswap.
Binance Undoubtedly the world’s most popular exchange when it comes to spot and derivatives trading. Binance exchange has risen to prominence during the 2017-2018 bull run and has not looked back since.
Binance boasts a staggering $27 billion in daily volume. No other exchange is even coming close to the volume Binance is doing. Binance is well known for being an easy to use centralized exchange.
The exchange offers several fiat on-ramps to fund accounts, as well as offering over 275 cryptocurrencies to trade. But Binance looks set to remain the largest cryptocurrency exchange on the market for the foreseeable future. Therefore it is one to keep an eye on in the future.
Uniswap has seen some of the fastest growth for a platform over the past year. The largest decentralized exchange in the world is currently doing $1.2 billion in daily volume, over three times the volume of second place decentralized exchange SushiSwap. That is pretty impressive for an exchange that over a year ago was nowhere to be seen.
Uniswap offers a simple decentralized platform for users to exchange any ERC-20 token on the market between one another. One of the major drawbacks currently is the gas fees of the ERC-20 transactions.
However, Uniswap is looking at improving its current offering by offering lower latency, faster settlement and cheaper transactions. The exchange also airdropped the existing users of the exchange with 400 UNI, currently valued at around $9,000.
Uniswap is likely to remain the decentralized exchange of choice with transactions on the exchange accounting for 25% of all Ethereum (ETH) network transactions, at the time of writing.
The list includes a variety of exchanges, all with their dynamic offerings ranging from wallets, mobile applications, centralized and decentralized offerings.
2021 looks to be a huge year for the cryptocurrency industry. The exchanges listed above will offer any seasoned crypto trader or newcomer to the market some of the best options for buying, trading, or holding cryptocurrency.
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