A crypto exchange can be of different kinds. Some offer spot trading while otherslc support margin or leverage trading. These are important details to know because if you choose a certain type of crypto trading then you should choose an exchange accordingly.
However, before you choose the best exchange for crypto, it is important that you have an idea of some of the popular options available in the market. Knowing about your options can help you understand the services and features they offer, which is essential for you to identify a platform that is most suitable for you to use.
Therefore, here are some of the largest derivative exchanges in the market that you should know about.
Binance Crypto Exchange
Binance, the largest crypto exchange in the world, is one of the most prominent options for you. It was launched in 2017 and has grown into one of the most well-reputed exchanges in the market.
There are several impressive features in the services it offers to its users. One of them being a low and competitive fee structure. Buying a crypto asset through the exchange is free, whereas, the withdrawal fee is based on whatever the market situations are.
Binance also offers high liquidity, which is an important aspect that crypto investors and traders look for. It is an insured exchange that has a team of customer support experts to assist the users around the clock. It has a fast and user-friendly trading interface, which is why it is one of the top options for new and experienced traders alike.
Phemex
Phemex crypto exchange is one derivative exchange you should know about. It is one of the rare platforms that is community-focused, which means it modifies based on the feedback given by the users to make it more user-friendly and outstanding.
It is one of the best crypto exchanges, thanks to its good quality services such as support extended to a wide array of crypto assets. It is a suitable platform for crypto traders, especially those who want to trade leverage as it offers 100x leverage. It allows people to create sub-accounts and trade with several advanced order types.
One of the top reasons why numerous customers opt for this exchange is that it does not require KYC, which means it is easy for people all around the world to register with it.
OKEx
OKEx is a popular crypto exchange that also offers leverage trading of up to 100x. It has several impressive features, which is why it stands out among its competition in the market. It was established in 2017 and offers a wide range of crypto assets.
One of its most highlighting aspects is that it offers both DeFi (decentralized finance) and banking services. It is one of the biggest cryptocurrency exchanges in the crypto market and offers a user-friendly interface and amazing customer support services.
It charges a low fee as compared to other platforms which is 0.15% for buying and 0.0005 BTC for withdrawing. This crypto exchange also accepts payments made through PayPal and offers good liquidity.
FTX
FTX is a well-known crypto coin exchange that is popular for its impressively low trading fee, among other things. It follows the market maker and taker fee structure according to which the maker fee is 0.020%, whereas the taker fee is 0.070%.
This exchange is also an outstanding option among several other platforms, thanks to its leverage. As a margin trader, you can trade with a leverage of up to 101x, which is one of the highest leverages in the crypto market.
This platform also offers high liquidity and enables the users to choose from various asset classes and digital assets. The crypto traders that use FTX crypto exchange can also trade leveraged tokens and indices.
Bybit
Bybit is one of the best crypto exchanges you will come across in the market, whether you are a crypto trader or investor. It is a peer-to-peer Bitcoin trading platform that was launched in 2018.
Similar to the crypto exchanges mentioned above, Bybit exchange also offers high liquidity. It has been designed to help beginners and experts in trading crypto assets they offer, which is why it has a good user experience.
It has an impressive customer support and also has a great mobile-friendly application. The mobile app is available for Android and iOS users and makes trading easy while on the go. It offers good sign up bonuses and has a low fee.
It follows market maker and taker fee according to which the taker fee is 0.075% and maker fee is -0.025%.
Conclusion!
The kind of crypto exchange you choose for crypto trading or investing can make quite the difference, especially if you are new to the crypto space. Therefore, it is important that you take your time to know about your possible options. As a crypto investor or trader, you should know about the platforms that are mentioned above, with some of their details.
Author Bio
Audrey Throne has an ongoing affair with the words that capture readers’ attention. Her passion for writing dates back to her pre-blogging days. She loves to share her thoughts related to business, technology, health and fashion.
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