The Main Exchanges Of The Crypto Ecosystem — Part 1
Today we present you with a list of three centralized crypto-currency exchanges. For each CEX (Centralized Exchange), you will find our general opinion, the main statistics of the exchange, the fees etc..
Launched on July 14, 2017, Binance is based in Hong Kong by Zhao Changpeng (better known as CZ). In early 2018 Binance is considered the world’s largest cryptocurrency exchanger by volume.
In 2020 the company also acquired the market data provider : CoinMarketCap (https://coinmarketcap.com), which itself is one of the most visited sites in the world (top 1000 most visited sites daily).
That same year, Binance announced plans to create their own non-fungible token (NFT) marketplace where users can create, buy and sell digital collectibles.
They have also created two cryptocurrencies: BNB, and BUSD (a stablecoin backed by the US dollar).
Thanks to its ability to constantly innovate, this company has quickly become a key player in the Cryptosphere.
Fee and vip program
Binance’s native cryptocurrency, the BNB, provides many benefits to its users. Its primary use was to pay the platform’s transaction fees (proportionally cheaper than paying them in USDT).
On the Binance exchange you can access other services, like.. .. .
You can use your BNB to purchase multiple, separate products such as Staking, Launchpool, BNB Vault, or Liquid Swap. These products offer great returns and make an excellent source of passive income.
Binance Card is a crypto-powered Visa debit card allowing you to use BNB to pay for your shopping, bills, mortgage, and pretty much anything you want. You can pay with BNB at over 40 million merchants worldwide. Get your card today!
Binance Crypto Loans
Use BNB as collateral and get fast access to a simple and straightforward crypto loan with no hidden fees or costs. Borrow BTC, ETH, BUSD, USDT, and more, and choose a loan term ranging from 7 to 180 days.
But BNB’s usefulness and vision goes much further. Today BNB is also the native token of the BSC (Binance Smart Chain), the Binance Blockchain. Today this Blockchain is fully operable and you can participate in hundreds of projects powered by the BSC (DeFi, liquidity pools, DEX trading, or as a payment for NFT marketplaces.
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Features of Binance :
Ranking: 1st in trading volume
24 hour trading volume: approx. 15 billion as of 07/2021
Number of assets listed: approx. 260
Number of trading pairs: approx. 1200
190 countries supported by Binance.
Coinbase is an American platform where it’s possible to buy, sell, store, transfer and receive cryptos. Located in San Francisco, California, the platform was founded in early 2012 by Brian Armstrong and Fred Ehrsam.
Coinbase launched the same year their first services : buying and selling Bitcoin by bank transfer. What a Legend ! Coinbase quickly became the most important trading broker in the United States, and today it is a leader in its sector !
With its strong reputation, the platform is considered one of the most reliable.
Coinbase and Instant Banking
In some countries, it is becoming possible to link bank accounts and access instant crypto-currency purchases. This means that users can deposit or withdraw funds directly from/to their bank accounts, making the process faster and more efficient.
Services for Businesses
On this trading platform, you can also find your account as a professional. Here are three notable services: Coinbase Commerce, Coinbase Custody, Coinbase Ventures
Coinbase, Publicly traded company
Coinbase’s IPO took place on April 14, 2021, where it makes its splashy debut on the stock market with an expected initial price of $250 per share and a valuation of $65 billion.
Coinbase Deposit and Withdrawal Fees
3.99% for credit card purchases, 1.49% for Coinbase wallet or bank account purchases, and wire transfers are $10 for deposit and $25 for withdrawal
Coinbase Trading Fees
Coinbase’s fees for crypto trading are less than 0.50% per trade.
Features of Coinbase
Fiduciary currency support: Coinbase offers support for the fiduciary currencies, USD, GBP and EUR.
Coinbase is also available as a mobile application, which is just as effective.
Instant conversion: You just have to pay in Crypto-currency to get another currency, and it doesn’t require any additional fees.
Coinbase Card: The card granted by Coinbase that allows you to spend your crypto-currencies directly from your Coinbase account.
99 countries supported by Coinbase.
From the founders of alameda research FTX is a trading platform for crypto assets and derivatives.
The platform launched its services in May 2019. It was funded by several large investors including Binance, and FTX has its own token, the FTT, Like Binance 😉.
The seriousness of the team is no longer to be demonstrated, in less than two years, FTX has become a key player, with a daily volume of nearly 1 billion dollars.
In August 2020, FTX diversify its activity by acquiring Blockfolio, an app for retail investing consumers that allows users to keep track of the value of their cryptocurrency portfolios, and also create a DEX on the Solana Blockchain.
The team at FTX claim to have designed the FTT coin with a strong positive network effects, which means the price of FTT tokens should rise as cryptocurrencies and the FTX exchange attracts more users.
These incentives include trading fee rebates for FTT holders, with the % discount increasing along with the amount of FTT held. FTT holders are also rewarded with weekly airdrops of the SRM cryptocurrency, which is the native token of a Solana-based decentralized exchange, co-founded by Bankman-Fried.
In addition to a referral program, FTX also operates a VIP program for professional traders, and a Backstop Liquidity Provider program for market makers.
Staking FTT also brings benefits, such as additional airdrops, bonus votes, etc ..
The FTX derivatives products
One thing that really makes the FTX exchange stand apart is the wide availability of blockchain-based derivatives products.
On FTX, users can purchase a wide variety of company stocks, such as Apple, Google, Facebook, Netflix and Paypal, as easily as they can swap one cryptocurrency for another. This is an exciting development for the future of the stock market on the blockchain, and a glimpse at the huge potential of the FTX exchange.
Going forwards, trade volume on FTX is increasing consistently, and may capture a larger market share following regulation troubles faced by centralized competitors such as BitMex and OKEx, which also offer sophisticated trading options.
The trading conditions on FTX are hard to replicate, because of the huge amount of liquidity provided by Alameda Research, and the team’s fast development cycles that see them quickly and consistently bringing out new trading products and making improvements to the security of the exchange. And with the expansion onto Solana and an increasing amount of partnerships and acquisitions, The FTX ecosystem is growing quickly.
In addition to this, through FTX you can easily access:
Forward contracts, Perpetual contracts, Options, Index funds, Leveraged tokens
The team behind the project is strong and delivers consistently new features on their platform which make FTX enjoy a great potential in the future.
On the other hand, when looking at the range of products and services on offer, it is clear that FTX exchange is not aimed at beginners.
Products such as Bitcoin options, leveraged tokens, perpetual swaps, and contracts take some time to understand and will not suit trading beginners.
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FTX Cryptocurrency Derivatives Exchange, built by traders, for traders. Buy and sell BTC, ETH, USDT, BNB futures and…
Made with ❤️ by the SCFX-Community
This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.