Centralized crypto exchanges were the first to be developed and remain the most popular even after the introduction of decentralized exchanges like Uniswap. Though these two types of exchange dominate the market, hybrid exchanges, which are a combination of CEX and DEX, are now being developed.
Choosing the exchange that is best for you can be daunting as you have to worry about the liquidity, security, reliability, and drawbacks of the exchange. Here’s a list of the top ten crypto exchanges on the market.
Binance
Binance is the most popular crypto exchange in the world, and the largest exchange by volume. Founded in 2017, and now present in over 182 countries, Binance offers a unique trading experience for users.
Trading fees on Binance are reduced by 25% with the use of BNB coins. Binance expanded into Altcoin trading and currently has 1,325 markets with 374 coins. The average daily volume of Binance stands at about $16.5 billion.
Pros
Coinbase
Coinbase is the most popular and adopted exchange in the US, and is currently available in 42 states. Founded in 2012, it is a tightly regulated exchange that is listed on NASDAQ. Coinbase has over 5 million weekly visits.
Coinbase is tightly secured, steering clear of hacking controversies. With an average trade volume of over $2 billion, Coinbase has 230 markets with 75 coins.
Pros
Houbi Global
Founded in 2013, Houbi Global is a leading centralized exchange that reached the top through its high liquidity, top-notch security, and advanced markets.
The exchange prides itself on the fact that it hasn’t had any security breaches since its inception and has a $20k BTC security reserve fund. It has an average trading volume of over $3.3 billion. Houbi has 928 markets with 330 coins.
Pros
Kraken
Kraken is a top centralized exchange with a very high-security protocol. The platform offers its users high trading limits and low trading fees.
Kraken has a volume of just over $1 billion with 311 markets and 65 coins. Kraken allows a range of fiat currencies, unlike Coinbase.
Pros
Bitfinex
Founded in 2012, the Hong Kong-based cryptocurrency exchange offers advanced charting and tools for users, and it’s among the top exchanges on every list. It is the Self-proclaimed as the home of digital trading,
Bitfinex offers margin trading which gives traders 10x leverage. Bitfinex has a 24-hour volume of over $2 billion with very high liquidity. It has over 951,000 weekly visits, with 280 markets and 139 coins.
Pros
AAX Exchange
AAX Exchange is a fast-growing crypto exchange launched in 2019 with over 500,000 active users. It is the first crypto exchange that is powered by London’s Stock Exchange Group’s LSEG technology, and has offices in Europe and Asia.
AAX has a daily trading volume of 63,690,528 and rapidly increasing liquidity. It offers crypto trading at the “speed of light” and other features like P2P trading. AAX currently has 67 markets and is a reliable exchange.
Pros
Gemini
Gemini is a popular crypto exchange with a range of features, including a crypto savings account option. Gemini is a simple-to-use cryptocurrency exchange with user-friendly features.
Constantly expanding, Gemini is available in all US States. Gemini is tightly secured and tightly regulated by the New York Department of Financial Services. Gemini has a daily volume of $155,567,121 with 70 markets and 49 coins.
Pros
Uniswap
Uniswap is the most popular decentralized exchange. It is a decentralized finance protocol aimed at achieving fully automated trading.
Uniswap keeps trading open to everyone and free from technicalities as there is no centralized entity that trades on behalf of the users. Uniswap has a daily trade volume of $886,545,684 and a market share of 19.5% among DEXs. Uniswap currently has 173 markets.
Pros
PancakeSwap
PancakeSwap is the second-largest decentralized exchange, holding a 14.3% DEX market share. Pancakeswap has a total locked value of $7,518,341,307. The network allows users to earn fees while providing liquidity through farming.
As a decentralized platform for the exchange of protocols, Pancakeswap furtherss community development. Pancakeswap has a daily volume of $656,603,058 with 779 markets.
Pros
FTX is a US-based exchange built by traders, for traders, and offers advanced trading options to make trading more profitable.
It prides itself on providing more tokens for traders with high liquidity. FXT has a 24-hour volume of $7.8 billion with 2 million weekly visits. FXT offers 455 markets with 230 coins.
Pros
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Source: Cryptocurrency - investing.com
