If you’re a crypto trader that every crypto trader needs to be trading on more than one exchange. As market conditions change and exchanges start to falter. It’s more important than ever that you’re only trading on the best exchanges out there. I’m going to break down the best exchanges out there. I’m going to show you which ones I use and why I use them for specific things. I’m going to break down things like fees, coins listed and even KYC requirements. So, you can withdraw your bitcoin with no hassles. I’m going to help you navigate the best exchanges out there in 2022. Let’s dive right in.
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2022 is turning out to be a brutal year for crypto. We started off in this raging bull market and today we’re watching a brutal bear market play out. We’ve already seen some of the biggest lending companies go bankrupt and there are rumors that exchanges will follow suit. If they do, they’ll destroy entire portfolios and wreck traders everywhere. That’s why we always say that trading on centralized exchanges has amazing advantages. You can trade your favorite old coins with amazing liquidity and you don’t have to worry about gas fees. But if you are going to trade on centralized exchanges you need to make your trades. When you’re done making your trades you need to get the hell out and take your money with you. Leaving money on centralized exchanges is always a bad idea. Also if you are trading on centralized exchanges the biggest mistake. You can make it to only be trading on one exchange, so I’ve spent hundreds of hours researching the best crypto exchanges for you to trade on and it’s not only about which ones will make it and which ones will go bankrupt.
Let’s start off by looking at Kucoin. If you’re an altcoin djinn like me you’re gonna love Kucoin the main reason why I use Kucoin is because Kucoin is always the first reputable exchange to list my favorite altcoins. If you look at their platform, you’ll see that they’ve got over 500 altcoins listed on their platforms today. So, if you’re an old coin trader this is going to become your trading space another reason why I love kucoin is because of the three dreaded letters in crypto KYC. We all know them very well.
Kucoin allows you to withdraw up to one bitcoin a day without doing any KYC means that you can get all the benefits of a centralized exchange. But, you don’t have to give up your identity. If you live in the United States, well you’re in luck because Kucoin allows traders in the United states to trade without doing any KYC. You can also withdraw up to one bitcoin a day. If you’re into exchange tokens. Kucoin has the KCS token and if you are holding the KCS token not only do you get super low fees. But, you also get a dividend that’s paid out of their daily trading fees and already their fee base is so low in fact I think their fee base is at around 0.1 to start all right now. Let’s look at the exchange size so I analyzed the numbers and if you look at the numbers. Kucoin is one of the biggest exchanges by traffic which means that a lot of people are going there. Their traffic is growing every single day Kucoin also recently announced a raise they raised 150 million dollars. They raised it from some of the biggest names in the industry at a 10 billion valuation. So, I think that financial stability is not something that you need to worry about.
Let’s talk about KYC, so Bybit allows you to draw up to two bitcoins a day without having to verify yourself. That’s more than Kucoin and for American friends. Well, bad news, you can’t trade barbers. Unless, of course, you’re using a VPN. Lots of people are trading there and the exchange is pretty sound financially. They also have a user-friendly app which I use primarily when I’m trading leverage the app is super-fast and allows you to trade both futures and spot across all your favorite tokens lastly one of my favorite things about Bybit is their customer support you don’t need customer support until you need it and when you do need it you need them to resolve your queries fast and this is where by bid come out 10 out of 10. Their customer support is in a league that no other exchange is even near, they resolve queries super quickly.
The next exchange I use is Binance. It’s my crypto safe space. If you want to call it. It may not be the best exchange in the world but it’s definitely the biggest exchange in the world. According to these statistics, Binance has about 30 million traders. They can do about 1.4 million transactions per second and sometimes they do up to 10 billion dollars worth of volume every single day. So ,from a size point of view finance is definitely the biggest. If you’re looking for reliability and reputation finance ticks all the boxes. It’s also legally compliant in most jurisdictions so if you’re looking for exchange-compliant finance is definitely the place to be from a safety point of view finance also created a fund to protect its users against exchange tax. Last I checked there was about a billion dollars in this fund, so why do I like finance well to me since checks all the boxes. It’s the safest exchange.
It has about 600 different altcoins. If you’re in the US, you can trade about a hundred of them. It also has a futures exchange where they have about 90 futures contracts that you can trade with finance also has the BNB token and if you hold the BNB token. You can get huge discounts on their already very low trading fees. I think their trading fees start at about 0.1 percent. If you’re looking for on-ramps and off-ramps finance is the easiest exchange in the world with the most feared undamped and off-ramps. It’s almost like no matter where you live it’s the easiest place to get money onto the crypto ecosystem. That’s not to say that it’s impossible to get many on to buy bit and coupons. Lastly finance is also a crypto banter partner.
I think their interface is designed much more for intermediate or advanced traders their speed of execution and their liquidity is absolutely amazing. In fact, it’s one of the fastest exchanges if you want to trade large amounts of crypto they have a mobile app. To be honest, I use this mobile app a lot when I’m trading leverage on the go the app is super-fast. If you’re looking for fast execution times, in fact, all in all FTX is the place. If you’re intermediate or an advanced trader, but if you’re a beginner don’t go there. One thing I really like about FTX is their FTT token if you hold the FTT token you can get about 60 percent discount on fees which is a huge discount on an already low fee base. The founder Sam Bankman freed is a friend of mine. I’ve been supporting him since 2008 and he’s always done things differently. In fact, you can see that he’s already trading tokenized stocks like tesla or Coinbase that you can trade on the platform as easily as you can trade crypto.
This article is a transcription of a video made by Crypto Banter
Original video: https://youtu.be/YNKL2cmSYms
