Ground Report | New Delhi: 10 Most Popular Cryptocurrency Exchanges; When it comes to cryptocurrency, there’s no buying it at your local store, and you can’t trade it physically. For such activities, you’ll need a cryptocurrency exchange. These online platforms are a hotspot for crypto enthusiasts, but they’re not all equal. Some exchanges are certainly bigger than others, and it’s better to know which exchanges are most used and most loved before choosing the one for you.
10 Most Popular Cryptocurrency Exchanges
Coinbase, an American exchange platform, was founded in 2012 by investors Brian Armstrong and Fred Ehrsam. It has since become a hugely popular exchange, with a current value of almost $86 billion. Pretty impressive, given that the company was started with just $150,000 from a startup program. It has since expanded with a stock listing on the NASDAQ, a cryptocurrency wallet, and a debit card, allowing users to spend cryptocurrency more easily.
Kraken was founded in 2011 by Jesse Powell and is now one of the world’s biggest exchange platforms, with an estimated worth of around $20 billion. What’s so great about Kraken is its support of 72 different cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and ADA (or Cardano). The exchange platform now also comes in the form of an app released in June 2021.
The FTX exchange platform is pretty new, founded in 2019 by MIT graduates Gary Wang and Sam Bankman-Fried. However, FTX is entirely unavailable to those living in the US. Despite this, it’s still managed to obtain a net worth of around $18 billion.
KuCoin is a Hong-Kong based cryptocurrency exchange launched in 2017. The platform is known most notably for its hosting of hundreds of trading pairs. On top of this, KuCoin supports a selection of well-known crypto coins, including Bitcoin, Binance Coin, Ethereum, XRP, and Tether.
Poloniex was founded by Tristan D’Agosta in 2014 and was acquired by the American tech company Circle in 2018. Though it was hacked in 2014, it has remained secure ever since and is considered safe in general. But it’s worth noting this if security is your priority.
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Poloniex offers impressively low trading fees and supports all the top cryptos, such as Bitcoin, Ethereum, and TRON. Its interface is also easy to use. However, it does not accept any form of fiat currency, which can complicate the whole process for newcomers.
The Binance cryptocurrency exchange was founded in 2017 by Changpeng Zhao, a Chinese-Canadian businessman. In just four years, the company has acquired an incredible overall value of $2 billion, making it a pretty huge crypto exchange. It also has the highest daily trading volume of any cryptocurrency exchange, outstripping competitors by billions of dollars.
Bitfinex is a Chinese crypto exchange founded in 2013 under its mother company, iFinex Inc. And, while this platform has become hugely popular, it’s not without its past problems.
Gemini is an American cryptocurrency exchange founded in 2014. As of 2021, the company holds over $10 billion worth of digital assets and is fast becoming one of the world’s most popular exchange platforms.
Gemini supports all of the top crypto coins, including Ethereum, Bitcoin, Litecoin, Orchid, and Chainlink. It is also legal across the entirety of the United States. However, Gemini’s transaction fees can go pretty high. So be aware of this if you’re looking to buy, sell, or trade using this particular platform.
Bittrex was founded in 2014 by three cybersecurity engineers: Bill Shihara, Rami Kawach, and Richie Lai. It’s a pretty simple exchange platform but has evidently taken the liking of over half a million users worldwide, making it a popular choice.
Bittrex supports Bitcoin, XRP, Litecoin, and a huge range of other coins. What’s more, its transaction fees are relatively low, as well as speedy exchanges due to its system design. However, if you’re pretty new to buying, selling, or trading crypto, you may find Bittrex to be a little too complicated to use. On top of this, the customer service is a little slow and could do with some extra employees to handle its increasing customer base.
The British crypto exchange CEX.IO was founded in 2013 by Oleksandr Lutskevych, a software developer and investor. It has since grown to become a hugely popular platform, with around four million users worldwide.
CEX.IO supports the world’s most well-known crypto coins, including Ethereum, Bitcoin, Dash, Litecoin, and Ripple. It also supports four fiat currencies, including GBP, USD, RUB, and EUR. CEX.IO’sding fees are also pretty low, and it even offers over-the-phone customer support.