Top Cryptocurrency Exchange “Now and in the future!”
Cryptocurrency Exchange which is the best?
Which Cryptocurrency Exchange you use may depend on many factors. Mainly where you live and what you seek to do with your cryptocurrency. In this article we seek to look at the NOW and the FUTURE. Governments have started to make their mark, this goes along with the institutional push.
Paypal recently stated it will start to accept crypto, and it is said they are looking to acquire a number of crypto firms, including Bitgo. This is likely to give the go ahead to many other institutional/corporate entities to jump into the crypto exchange and the crypto market in general.
We write from time to time exchange reviews or guides. As an example: “THE ULTIMATE BITTREX GUIDE” At SmartOptions we keep you informed.
Below we will take you through the exchanges and give you an idea of the who is who. From there you can see which is the best fit for you now and into the future.
Binance “Too big to fail?”
Binance is the #1 Exchange in Crypto bar none. The scope of which they cover all types/markets leaves other exchanges in the dust. They Now also offer margin/futures trading.
4 main reasons Binance has taken over
- Fiat to Crypto Trading
- Crypto to Crypto Trading
- Crypto to Derivatives Trading
- DEX Trading
As if this was not enough they also now provide a U.S. regulated cryptocurrency exchange option, covering all bases and giving great legitimacy to their business. With Binance.us they made a move similar to Etoro to forward their business model. This was a strategically intelligent move by Binance in our view.
Binance has not stopped there they continue to expand their offering from A to Z. It is dizzying to see the number of options Binance has offered things such as.
- The Binance Earn
- Binance Smart Pool
- Branded Binance Visa Card
- Crypto Loans Option
- Liquid Swap
- P2P Bank Transfers
- OTC for large trades
- 3 Types of interfaces by level
Currently, they really can’t be beaten with their offering and it seems they are not slowing down either. Binance gives you three different levels for their interface for users. This makes the platform usability for beginners to advanced users The lower fees vs most competitors and plethora of options makes them #1
Bitmex “The Fallen Star”
Bitmex is the biggest story of 2020 and likely to be a big disappointment of the crypto trading universe. Early on from their start Bitmex engaged in manipulation of their platform against their own users. Along with the lack of any AML/KYC policies, this gave a door to prosecutors in the United States. Now the future of this platform is in great doubt.
The sad part of all of this is that Bitmex is the most secure and well programmed trading platform in Crypto bar none. Binance might offer more options and bells and whistles, but for pure raw trading does not compare.
Volume on this cryptocurrency exchange has dropped off like a lemming falling off a mountain. Many other platforms have benefited from the Bitmex fall.
Arthur Hayes developed a institutional grade platform for traders. Unfortunately him and his gang decided to use it with malfeasance it seems.
As we can see the amount of complaints by Bitmex and their actions, also has lead to Arthur Hayes stepping down from Bitmex. Him and his fellow owners have had criminal charges filed against them even. Very sad the best platform for trading is destroyed by the greed and stupidity of its owners.
Again I hope they overcome the charges as this is imo the best trading platform in crypto. For now they will remain a fallen star and one to avoid until issues with the U.S. regulators are resolved.
Coinbase Pro “The Big Money Choice”
Coinbase Pro is really for higher net worth individuals seeking mainly safety above all. This is the best option for those of us who want a safe place to trade our crypto. Coinbase Pro compared to their competition price themselves out of the market for the higher volume/lower account balances.
Unless you have at least 100k or above this cryptocurrency exchange might not be for you. The real price advantage of using this platform is with larger trade sizes, add the safety of funds. FDIC “Federal Deposit Insurance Corporation” is important to professionals and Institutions. Coinbase Pro has that for the smart money.
The smart money/institutions will use this option to get into Bitcoin and Ethereum in size. They won’t risk scam exchanges with limited pedigrees. Many of these higher volume Asian exchanges just don’t measure up.
Coinbase Pro is for those with larger funds and in need of both quality and safety.
Kraken “Tentacles across the world”
Kraken a humble #3 cryptocurrency exchange. This imo was the first exchange to be cited as legit. This crypto exchange started back in 2011 and is one of the oldest. The company itself are pure crypto geeks and likely have zero business or marketing knowledge. Still outside of coinbase pro this has been the goto exchange for safety and reliability in crypto.
Kraken is an unsung here to crypto adoption, one of the backbones of helping bitcoin adoption imo. They have the perfect balance of security/fee structure and use-ability. Jesse Powell helped with the Mt. Gox debacle in processing claims back in the day. They have good liquidity and are third to only Coinbase Pro and Bitmex in terms of security.
Another great thing about Kraken is how they employee a independent cryptographically verified audit for their customers. This insures the crypto exchanges funds are correctly held. Powell really deserves some credit for being the all around good guy for BTC and the Crypto Sphere in general.
Kraken is very popular with clients in the USA and Europe. A good choice for smart traders. If you want low trading fees, high security, dark pool order book for large orders and just high quality service. Well Kraken is for you!
Huobi “Growing Asian Tiger”
Huobi is Right there with Okek in terms of volume and scope. The main difference between the two exchanges for the Asian community is Huobi has not been hacked. Unlike many other Asian exchanges which I am not sure why the vast majority of Asian exchanges get hacked!?
Simply put at least Huobi has not been and seems to be a safe choice for users in that region. They have a large selection of altcoins for users to choose and a fairly simple interface. They are based in Singapore yet most of their market is China-centric.
Crypto trading fees are pretty standard around 0.20% which is middle of the road for most Cryptocurrency Exchanges. Now again to note they have a poor rating on security D+ which makes them vulnerable to future hacks. Imo most Asian exchanges are just too risky for holding any real funds, but if you little guy in China check them out.
Cryptocurrency Exchange of the FUTURE!
Below are the Exchanges we are going to bet on might take over from the old guard of exchanges. New exchanges are seeking to be regulated and have good security for their users.
The days of the Mt-Gox are behind us and in order to grow we need the paypals and CME. Along with other institutional support for Bitcoin and crypto the future looks bright!
Robinhood “You will be ASSIMILATED!”
Robinhood is an overlooked PHENOM that IMO will also take over in crypto. The key to their success has been a combination of focusing on a younger demographic that wants FREE!
The FREE along with very easy to use platform has been a major factor for them taking over in trading volume from their peers in the stocks and options space.
They are also one of the innovators of stock slices/fractional shares where you don’t need to buy full shares of a company anymore. This gives an onramp for those with limited funds to start investing.
The simplicity of the app and account setup for trading enthusiasts is amazing. Add the Paypal news of them allowing buying/selling of crypto on their platform are tell tale signs. Institutions and the big players with huge funds are moving into the crypto space at a rapid rate.
If you want an all in one place to trade not only for FREE but with ease. You have no further to look than Robinhood!
Tradestation “Technical trading juggernaut”
Tradestation is another recent entry into the crypto market. They are known for technical prowess. A favorite of stock market and commodity traders for the advanced indicators and platform. Though that was way back when, now most of the features it has can be found on a number of platforms.
Still having a TA based platform like Tradestation enter the crypto market just like Paypal is nothing less than a big win. It will be very interesting how these firms will compete in the space and grow crypto adoption across the board.
For a technical crypto traders this might be a great solution for you. As well Tradestation has a large base of institutional money, which again likely will translate into more bitcoin hodlers and adoption.
FTX “Growing fast and strong”
FTX has been showing up more and more across the board. They have very low fees, even lower than Binance at around .07% making them the low-cost alternative to many of their peers.
As well the platform has some interesting derivative crosses giving crypto traders more assets to choose from. The recently acquired Blockfolio giving users multiple advanced ways to track their cryptocurrency portfolios.
They have added a US Presidential Elections for you to trade. Now imo that is hilarious, still very cool.
With their low fees and extensive derivatives offerings. FTX will likely gain in the wake of the Bitmex crash. I think in the near future they will be on top of the list of top Cryptocurrency Exchanges.
Final thoughts on the top Cryptocurrency Exchange…
The future of the top cryptocurrency exchange has yet to be written. We have some clues with regulators and how they might change the landscape. With the recent attack on Bitmex, which honestly they deserved. Too many times they manipulated the market and their own users. No matter how great the platform is, their greed cost them. We have had many reports from Signal Providers on the site of how Bitmex traded against them.
We hope the new crop of low cost high-tech exchanges will bring bitcoin adoption for all new investors and traders. Ethics will be in focus for the future, no more of these BS hack attacks will be accepted by users.
Many of these Asian firms for whatever reason will bear a great deal of scrutiny as they deserve. The vast majority of hacks have been located in their region. Firms that offer insurance and a high degree of security will win the day.
Another strong note is the institutional/smart money coming into the space. They will bring a new customer-centric modus-operandi to our blockchain revolution. Users will have more options and greater “SAFU” safety of funds. Adoption of Bitcoin by the general public will grow and grow, the next ATH break of Bitcoin will likely induce FOMO “Fear Of Missing Out” by a whole new crowd. This panic buying will be imo a sight to see 🙂