Best Crypto Exchanges In 2021

 

Discovering cryptocurrencies and blockchain technology is like discovering an entirely new world. It’s full of excitement and hope—the hope of changing your life in ways that you’ve always dreamed of. It’s possible, and if you are patient enough to let your investments grow over time, especially in this young market, then your dreams will likely become a reality. However, it doesn’t mean that you should be careless about where and how you invest your money. It’s essential to do your research. Not only to find the best projects with the best potential in their field but also to make sure you’re using the right tools before you make any purchases on any crypto exchanges. In this blog, we will guide you on how to choose the right exchange for you, and of course what are the best crypto exchanges in 2021.

Things to Keep in mind when choosing a crypto exchange.

There are few things that you must pay attention to before choosing your exchange:

Your location:

We recommend searching for the best local crypto exchanges in your country or region on google before going for the biggest exchanges. Look at the reviews on each exchange, and compare them to one another. See what other people say about them in their reviews and comments. It’s the simplest way to find a suitable exchange.

Fees:

Each exchange has different fees; some exchanges charge much more than others. Make sure you don’t end up paying them a fortune over the long run.

Enough options:

Another thing to keep in mind is how many different projects (coins) they offer on their exchange. Every major exchange around the world offers Bitcoin since it’s the godfather of all cryptocurrencies. But you should consider other smaller cryptocurrencies such as Ethereum, Litecoin, Cardano, and many others, simply because they may offer better returns on investment. In addition, some coins perform better than others due to many factors. Some of them are:
a) The team behind the project.
b) The kind of project the team is building on top of their blockchain.
c) How big or small their market cap is.
d) The kind of category they fall into, such as store of value coins, privacy coins, Defi coins, etc. That’s why it’s important to diversify your portfolio.
A tip: Look for small projects with good fundamentals and solid teams behind them.

High liquidity:

You want your buy and sell orders to be filled as soon as possible by the exchange. It shouldn’t take long for your orders to be completed and for your coins to be in your wallet address.

Check the trust score on Coingecko:

– 24h Volume: is how much liquidity there is on the exchange.

– Visits: are the number of people that check or use the website.

– Coins: is the number of projects (coins) on each exchange.

– Pairs: is the number of trading pairs that are offered on the exchange, e.g., BTC/USDT, BTC/ETH, ETH/USDT, XRP/USD, BNB/USDT, etc.

 

Here are some of the best exchanges in no particular order and what I do think about them personally.

1. Binance:

Positives:

+ One of the most trusted exchanges in the world.
+ A large selection of cryptocurrencies (300+ options).
+ A large selection of financial services.
+ A Generous referral program.
+Low fees.
+ Crypto staking.

negatives:

– People who are new to crypto might find it confusing.
– They offer very high leverage, and with higher leverage comes a higher risk of liquidation and losing everything.

• Binance was established back in 2017, and since then, it has proven itself as one of the best crypto exchanges in 2021. It’s one of the most popular exchanges among crypto trades due to the large selection of altcoins and various financial services, such as spot trading, futures trading, margin trading, and other financial services.
• Its low fees make it so attractive to retail investors and big institutions. If you wish to check the rates, click here.
• Binance has a generous referral program that encourages people to promote Binance to their friends and family.
• It’s not easy to use at first, especially for someone who just started investing in cryptocurrencies. But once you know your way around the website, it will surprise you how user-friendly it is.

Note: Binance and Binance.US are two different exchanges. Binance is for you if you live outside of the US. Binance.US is available to US residents, excluding some states; please check their website for more information about this matter.

2. Coinbase:

Positives:

+ One of the most trusted exchanges in the US.
+ Many big institutional investors purchase their crypto assets from them.
+ Easy for people who are new to crypto.
+ High liquidity.
+ Crypto staking.

Negatives:

– A small selection of cryptocurrencies, currently around 60 options.
– Their website is notorious for crashing during high-volume days.

• Coinbase is a digital asset exchange that is located in the USA.
• It’s straightforward and friendly to use. People who are looking where to buy cryptocurrency will most likely end up on Coinbase.
• Fees are higher than other exchanges, and you can check them by clicking here.
• Usually, when a coin gets listed on Coinbase, the price of that coin spikes shortly after.
• However, it’s fair to say that they frequently went offline at the worst possible times. But it seems like they have gotten better in recent months.

Note: If you want an easy way to purchase cryptocurrencies because you are new to the space, then Coinbase is your exchange but keep in mind that their fees are higher than other exchanges. You might consider switching to another exchange eventually.

3. Kucoin:

Positives:

+ It’s user-friendly.
+ A wide selection of cryptocurrencies (310+ choices).
+ A wide selection of financial services.
+ You can stake your crypto.
+ You can trade Anonymously.

Negatives:

– Has low trading volume compared to other crypto Exchanges.
– People who are new to crypto might find it confusing.

• Kucoin’s headquarters is in Singapore.
• Fees are relatively low. You can check them by clicking here.
• They have a large selection of less well-known and cheap cryptocurrencies; Who knows – some of these projects could be the next big thing, and their coin price could soar high months later. But as always, make sure that you do your research before investing in any projects.
• It’s similar to Binance when it comes to the financial services that they offer.
• It might be hard to use for someone new to crypto. It can be a little confusing initially, but once it’s been used for a while, it becomes easier to navigate inside the exchange.

Note: Kucoin isn’t my favorite exchange, but I do use it from time to time to buy cryptocurrencies that aren’t listed elsewhere.

4. Gate.io:

Positives:

+ A huge selection of cryptocurrencies, more than 680 choices.
+ You can invest in early projects and enjoy large gains if you choose the right ones.
+ It offers some financial services, such as margin trading.

Negatives:

– It’s unregulated, so always keep that in mind.
– It might be hard to use for someone new to cryptocurrencies.
– You can’t deposit fiat currencies such as the dollar or euro; you must deposit cryptocurrencies.

• This exchange is one of the oldest Chinese exchanges that still operate today.
• It has one of the biggest selections among crypto exchanges.
• You can invest in many early projects before they become listed on other exchanges.
• Their fees are low, but not the lowest in the market. You can check them by clicking here.
• I must mention that even though they are unregulated, they have a strong cybersecurity team, and users can secure their accounts in multiple ways.

 Note: Although it’s an unregulated exchange, that did not stop it from becoming the third biggest crypto exchange globally, and that’s for a good reason; they offer a massive selection of cryptocurrencies and a variety of financial products. That is what makes them very attractive to investors with a high-risk tolerance.

In conclusion:

It’s essential to do your research before deciding to open an account on one of these exchanges or any others because you want to keep your investments safe and available for relocation at any moment. What’s important is safety, legitimacy, and only investing what you can afford to lose.

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