5 Best Cryptocurrency Exchanges in 2021
Are you planning to invest in cryptocurrencies in 2021? Well, that’s a wise choice. However, for you to get access to the crypto-world, you will need to find the best cryptocurrency exchange in the market. Thankfully, in this article, we are going to discuss the five best cryptocurrency exchanges in 2021.
A crypto-exchange is a platform to exchange your fiat currency for cryptocurrency or one crypto to another. That helps you to invest in the cryptocurrency of your choice. More importantly, most exchanges in 2021 have a wallet where you can store your cryptos for a while. So, without further ado, let’s get started with the five best cryptocurrency exchanges 2021.
Among all the new cryptocurrency exchanges, Kucoin has proven to be the most impressive one. It features a modern, intuitive design and top-notch security, not to mention a stellar reputation over the years.
Although the exchange is based in Hong-Kong, China, it has countless international investors who help position it as an international organization. What’s more, KuCoin offers its users an advanced API, which allows the users to come up with a programmatic and secure trading strategy.
KuCoin is essentially an exchange that is designed with its user’s needs at heart. Therefore, this exchange mostly focuses on making crypto coins easily accessible to users. That’s by having a team of experienced customer service 24/7 and not setting any trading limits.
KuCoin is one of the fastest exchanges, and trades are always quickly executed, ensuring you get the best prices when selling or buying. Also, the deposits and withdrawals are very fast as well. Not to mention, this crypto exchange is very user friendly even for a beginner, thanks to the intuitive design.
Key Features of KuCoin
Pros of KuCoin
Cons of KuCoin
Is KuCoin Safe?
Security is a sensitive matter, especially in the cryptocurrency industry. That said, KuCoin is a safe place for you to conduct all your cryptocurrency trading projects. The platform uses state-of-the-art technology to ensure all your funds are safe and secure from hacks. More importantly, the company has never had any security breaches. Therefore, their tech-team must be doing something right. The site also implements the latest security advancements to reduce any vulnerabilities that may expose their clients to hacks.
The site operates on a centralized server, which means in case the site is hacked, you can be sure your funds are safe. Additionally, the platform uses an encryption protocol to safeguard private account information that could be used to access your account. They also implement Google Authenticator's use, which essentially reduces any chances of unauthorized entry to your account.
Fees on KuCoin
The company offers free deposits at any time of the day to all users. Meaning you will not have to deal with any charges when depositing your funds to this platform. Besides that, KuCoin offers a 0.1% fee on trades, which is relatively low compared to other platforms. There is no withdrawal limit on this platform as well.
Does KuCoin Have an App?
Of course, yes! KuCoin has an interactive app that will provide you with fast information on your digital assets. What's more, you can use the application to create price warning setups that will ensure you never miss those sensitive trading times. You can also create a collection of all your trading pairs for easy access and monitoring. With this app, you no longer need to carry your laptop around to keep up with your trades.
Kraken is one of the best cryptocurrency exchanges in 2021 based in the US. It offers a very advanced trading platform with OTC options and margin trading. This trading exchange is known for its wide range of features, low transaction costs, and high-end security features.
Kraken boasts of its reliable customer support and high liquidity. Kraken allows you to trade in more than 140 markets with more than 32 cryptocurrencies and six fiat currencies. With Kraken, you also get a dark pool, which is an invisible order book.
With that said, the dark pool allows each trader to trade anonymously and only know their individual order without revealing their interests to other traders. Aside from the cryptocurrencies, you can also engage in forex trading with either of the six supported fiat currencies.
Kraken takes the security of its users very seriously. Therefore, they have in place the necessary system upgrades to prevent hack attacks. New deposits on Kraken are directly transferred to the offline cold wallets physically isolated from online systems. All wallets and data centers are also encrypted.
Key Features of Kraken
Pros of Kraken
Cons of Kraken
Is Kraken Safe?
Yes, the platform is safe. After the previous security issues in Mt. Gox, it led to the birth of Kraken. With that in mind, this platform is centered around security hence making it one of the safest places to do your cryptocurrency trading. The site uses cold storage as a safety measure against hacks. Kraken also uses server security, where the servers are stored on a secured premise with 24/7 surveillance. Access to this area is tightly controlled and regulated.
Additionally, Kraken has a team that's fully dedicated to testing the platform's vulnerabilities and creating a countermeasure. The 2FA is a mandatory feature on Kraken. To increase the security measure, you can't withdraw your funds on this site without email confirmation.
The account information is also encrypted from hacks. Typically, such information can be used to gain access to your trading account, so it's crucial to work with a platform that takes extra precaution to secure your info. And that's not all! You can't recover your account through your phone or SMS. That means if you lose your smartphone, be sure your account will still be safe.
Fees on Kraken
Kraken fees are known in the crypto-world as one of the lowest in the entire cryptocurrency exchange industry. That's because the fees you will pay will depend on the trades you've conducted in the last 30-days. And like most exchanges, the Kraken fees are also based on the maker and taker model. Typically, makers pay a lower fee compared to takers to complete their existing orders.
Does Kraken Have an App?
Yes, the platform has a new user-friendly application that will cater to your every trading need. More importantly, the app is compatible with most android and iOS devices. The user interface is intuitive, and you can understand the whole platform within minutes. The download process is also relatively straightforward. And like the website, the Kraken application also offers top-notch security systems.
Created by a team of economists and pro traders, BitMEX is a crypto-market that’s worth every penny. The platform has zero issues, especially when it comes to liquidity. More importantly, you can also get future and present contracts on bitcoin and several alt-coins. Additionally, the registration process is relatively easy to understand. The company was launched back in 2014 and has grown ever since. The platform has one of the best security systems in the field.
The signing up process on BitMEX is pretty much straight forward and simple. All you have to do is fill up the blank spaces and verify your email address. The BitMEX interface is, however, a bit complex for beginner traders. That said, if you are looking for a simple buy and sell interface, then BitMEX is not for you.
That’s because the platform doesn’t offer any simplified version. The company has several coins up for trade, but you will not get direct purchases. In general, the platform provides tools that could increase your trade profits but only if you know how to use them. With that in mind, this platform will ensure you have a smooth cryptocurrency trading experience.
Key Features of Bitmex
Pros of Bitmex
Cons of Bitmex
Is BitMEX Safe?
Hands down! When it comes to security, BitMEX has the highest record in the business. The site was one of the founding cryptocurrency exchanges in the market. Yet, with all those years, BitMEX doesn't have a single hack story. Imagine that?
That said, BitMEX is highly ranked in terms of security for margin trading cryptocurrencies. Unfortunately, BitMEX doesn't offer any form of spot trading, but you can still deposit your cash in the form of bitcoins. BitMEX is the ideal platform for margin trading, considering it's been in the game for years. More importantly, the platform also has a high daily volume.
When it comes to security measures, BitMEX implements some of the latest technological advancements in the industry. The platform uses a multi-signature withdrawal and deposit system, which means users' addresses have multi-signature, and the storage of asses is done offline. There won't be enough funds on the web-server to steal in case of a hack on the network.
Additionally, there are no private keys on the server, and the bulk of the funds are deposited in deep cold storage. Above all, deposits made on this server are verified by an external service that ensures the external firm contains the founders' keys. And in case the keys do not match, the entire system will immediately shut down, and trading will be stopped for a few hours.
Fees on BitMEX
BitMEX trading fees are considered as competitively low. The BitMEX trading fees work through a maker and taker model; hence, the prices depend solely on the type of order and the coin. That said, customers who use the future BTC order will typically earn compensation. The maker gets a 0.025% while the taker charges 0.075%.
Another vital fee that's worth noting is the fees for the hidden or iceberg orders. The fees are used to pay the taker until the whole order is complete. But once the order is entire, the order returns to normal, and the maker receives a commission for the non-hidden order.
Does BitMEX Have an App?
Yes! BitMEX has recently released its mobile trading app allowing you to trade on the go. The BitMEX mobile app is available on IOS and Android devices.
Bybit is a cryptocurrency exchange based in Singapore. And without a doubt, it is one of the best cryptocurrency exchanges in 2021 with the P2P feature. Bybit primarily offers perpetual futures products with 100:1 leverage. That means that Bybit is a highly competitive exchange with other similar exchanges that offer such non-expiry futures products.
Bybit has top-notch security, which helps to counter any threats posed by hackers. Therefore, the exchange operates a cold storage solution. That means that the exchange stores their client’s funds and some of their crypto reserves in offline wallets.
On top of that, they require multiple signatures to approve a transaction from one wallet to another. That ensures that no single individual gets to manage the funds on the exchange. Also, Bybit features full SSL encryption, which provides secure communication on the site.
Key Features of Bybit
Pros of Bybit
Cons of Bybit
Is Bybit Safe?
Bybit is one of the safest places to trade, mostly because it has never been hacked, just like BitMEX. More importantly, the platform takes extra precaution by storing its funds in cold storage. Additionally, as par the site, if Bybit gets hacked, the site assures its users that they will compensate for their losses.
The company also has encrypted messages using the full SSL encryption. That means that all your passwords and address information are entirely secured from hacks. Additionally, the site uses 2FA security, which protects against unauthorized access to your account.
Fees on Bybit
Bybit uses the maker and taker model when it comes to trading fees. If you are a taker in a particular order, you will pay a fee of 0.075%, while a maker will earn a 0.025% rebate. Through that, Bybit makes a 0.05% worth of commission from the maker and taker model. On top of that, Bybit charges a fee of 0.2% on spot trading. Thankfully, you are not charged for deposits on this platform, but you might have to incur overnight charges for orders that extend to the next day.
Does Bybit Have an App?
Yes. Bybit has an intuitive mobile application that will take care of all your trading needs at the simple press of a button on your smartphone. Traders can access perpetual swaps and contracts on this application, including USDT perpetual. The mobile application is optimized for a seamless user experience. More importantly, the app can notify you all the time, even when you can't access your laptop. You can also monitor the progress of your portfolio on this mobile app. Additionally, your funds are 100% safe on the application. The best part is that the application offers customizable widgets that could help you monitor the markets.
Since 2017, Binance has grown to be one of the leading cryptocurrency exchanges of our time. That is why it’s among the five best cryptocurrency exchanges in 2021. The company is located in Malta, which happens to be a favorite, especially for cryptocurrency investors. What’s more, Binance also offers a great discount for any trader who uses its coin, BNB, to trade. Currently, Binance has the highest liquidity.
Binance has a high volume of traders, and with good reason. Even though the platform has several features, it’s relatively easy to understand than other cryptocurrency exchange platforms. What’s more, with this platform, you now have access to several cryptocurrency pairs. With their new future contracts, you can also trade on the bitcoin price and leverage up to 125X. What’s more, the company also offers a P2P section for anyone who wants to change their cryptos.
Additionally, Binance also happens to be one of the few cryptocurrency exchanges that offer credit and debit card deposits. That means you can buy cryptocurrencies straight from your bank account. And that’s not all! With their mobile application, you can now access the platform on the go. They offer all features on their mobile applications; hence you can continue trading even when you are away from the computer.
On top of that, the mobile app allows you to monitor your trades anywhere at any time. Thankfully, the interface of Binance is easy to understand even if you are a beginner in the crypto-world. With this platform, you will have access to spot trading, and there are three different interfaces you can choose from depending on your trading experience.
Key Features of Binance
Pros of Binance
Cons of Binance
Is Binance Safe?
Without a doubt, Binance is one of the safest places you can exchange your cryptocurrency. That's because the tech team behind this platform goes above and beyond to ensure they have the market's latest security systems. Typically, Binance is the newest cryptocurrency exchange today, but it has quickly become one of the favorites platforms because of its high-end security systems.
The site offers 2FA security protocols that reduce the chance of unauthorized entry to your account. More importantly, the site also provides a multi-tier architecture to beef up the security systems. And that's not all! Binance was hacked back in 2018. However, the team was able to stop the hack even before anyone lost their funds. That not only instilled confidence in the users of this platform, but Binance also offered a bounty of $250,000 to any person who can catch the hackers.
Fees on Binance
Another crucial element of any platform is the fees. Binance uses a simple system for trading fees. Typically, you either pay for the full trading fees or use their discounted rate by trading with BNB. Your trading fee will amount to around 0.1% with every trade, but when using BNB, the rate drops to 0.75%.
More importantly, with BNB, you can purchase and hold to enter the lottery games on this platform. By doing so, you will become one of the few people who get to invest in IEO on offer.
Does Binance Have an App?
Of course, yes! Binance has an interactive mobile application that's relatively easy to understand. It's also compatible with most android and iOS devices. What's more, you can buy and sell cryptos directly from the application. The app also lets you monitor your ongoing trades and even make new trades. To be more specific, the Binance application will let you do most, if not all, of the actions that you can perform on their website.
That concludes our five best cryptocurrency exchanges in 2021. Each of these platforms will help you master your trading craft and, in particular, your crypto trading skills. Take time and check out the features of each platform as well as their pros and cons. That will tell you which platform to invest in.
All in all, cryptocurrency seems to be a good investment alternative thanks to the advancement in technology. You can start with small capital as you learn the crypto-world ropes and then build your fortune with time. That’s how most cryptocurrency traders began. With this article, you now have a good understanding of where to start and what to do. If you loved this piece, then you should stick around for more articles on cryptocurrency.
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