Trading Tips: Top 5 Crypto Exchanges in 2021

By Crypto Adventure | Crypto Adventure | 28 Apr 2021


Crypto exchange and brokerage services are increasingly gaining momentum as the crypto world grows. The most recent statistics show that there are over 100 million estimated crypto enthusiasts globally. Hundreds of crypto platforms have been launched to satisfy the crypto masses, providing unique services to the average user. 

Generally, all these crypto exchanges focus on providing user-friendly services on highly secure networks. This guide will discuss some of the best crypto exchange platforms that offer various assets at favorable fees. Keep reading for more. 

Binance Exchange

Binance is probably the most commonly used crypto exchange today, giving the best spot, margin, derivatives, and futures trading. The platform, launched in 2017, has a vast collection of crypto assets currently supporting over 200 crypto assets. 

Accordingly, Binance gives the user multiple fiat options to enhance the convenience of the platform. For instance, a user can deposit a currency like USD, EURO, and about ten more. There are multiple payment methods available, including Bank account, Paypal, credit and debit cards, visa, etc.

This platform suffered severe phishing attacks a few years ago, but it has prioritised security since then. The platform has a series of verification procedures for KYC purposes, requiring identity verification. The KYC here aims to protect users and the platform at large. Similarly, the platform has 2FA systems for confirmation of identity before transaction. 

The platform charges a standard 0.1% for trades and makers and takers fees depending on the value. 

One thing that draws the platform back is its poor customer support services. Due to the vastness of the network, it may take hours to wait for assistance. 

Coinbase

The second most trusted crypto exchange platform today is Coinbase. Coinbase was launched in June 2012, offering crypto services in a highly secured and user-friendly interface. 

According to their website, this platform has over 56 million loyal users and serves over 100 countries. The mobile application also helps in attracting more users globally.

Coinbase has its native wallet, which is custodial, meaning that whenever you use the platform, all your assets remain under the control of the platform. Generally, the use of custodial wallets makes it inconvenient for people to control their investment. This platform has an insurance policy for the assets stored to guarantee its users complete security. 

Although the platform is highly trusted, it supports very few crypto assets, primarily the top assets like bitcoin, Ethereum, bitcoin cash etc. 

However, Coinbase charges sky-scraping fees ranging from 0.5%-4.5% depending on the type of transaction undergoing. The minimum trade and account balance are $2. The makers and takers fee starts from a minimum of 0.5% and decreases as the volume increases. 

MXC Exchange

Another great crypto exchange platform with excellent up-to-date services is the MXC exchange. The platform launched in 2018 and has been a crypto exchange service provider for three years. The user interface is highly intuitive and reliable for crypto users with different trading expertise.  

This exchange supports the highest number of crypto assets when compared to all others in this list. Currently, it supports 392 coins and works in over 590 markets. According to the website, this platform has over 600 thousand weekly visits, translating into over 2.4 million visits every month and even greater trading volumes.  

Generally, MXC provides services like margin and spot trading, derivative trading, POS staking, Defi services, IEO launchpad and ETF trading. 

Security is prioritised in the MXC exchange with the platform instilling tools like multi-sig, cold wallet, KYC for large trades etc. Moreover, it has its media authenticator tool to help users identify the right social media pages. 

The trading fee in MXC stands at 0.2% per every trade, above others like Coinmama, Coinbase etc. The withdrawal and trading limits depend on the crypto assets. 

You can pay for assets in MXC using a bank account, credit card, Alipay, Visa etc. 

Coinmama

Established in 2013 in Israel, Coinmama is a crypto exchange network providing excellent services for over 180 countries. The platform supports the buying of 10 crypto assets, including BTC, ETH, ADA, EOS, LTC, XRP, and several others.

Unlike some of the exchanges listed above, this platform is available everywhere globally, making it a highly convenient and reliable exchange platform. 

The fee charged ranges from 2.9% to as high as 5%, depending on the level of loyalty of the transacting party. Accordingly, the payment methods are also vast, including SWIFT, SEPA, Sofort, Fedwire and Apple Pay, debit, credit cards.

Verifying your identity in Coinmama requires proof of identity; thus, users must upload their ID and a selfie to be verified. 

This platform is probably the most expensive crypto exchange platform, thus discouraging users. However, everything else in the platform is up to crypto standards. 

The minimum transactions in Coinmama are $100 in deposits, while for withdrawals, it's $200. This platform is available in over 180 countries.

Kraken

Kraken offers crypto exchange services in many countries for over 50 crypto assets. It provides margin trading and futures trading options for crypto enthusiasts. It implants a highly user-friendly interface, meaning even a beginner crypto user can have an easy time. 

Moreover, Kraken provides various payment methods, including SWIFT, Fedwire, credit and debit cards. Accordingly, the minimum fees charged vary depending on the payment option chosen by the user. However, the standard fee ranges from 0.00% to 0.26%. 

When it comes to payment modes, you can pay using various methods, including SWIFT, SEPA, bank transfer, wire transfer etc. The order size in Kraken depends on the type of asset chosen. 

The platform's security uses 2-factor authentication, cold storages, and global settings lock. 

Kraken is currently available in 176 countries. Although Kraken is a highly convenient platform, it's pretty hard to understand their fee schedule. 

Final Word

When looking for a crypto exchange platform to use for your trading purposes, you need to see the security and reliability of the platform. Although there are many exchanges to consider, the five platforms mentioned above are the best for providing highly secure services. Some have implanted strong policies that include insurance for crypto assets. 

The platforms above also have a broad reach, with some serving almost every country globally, meaning utter convenience for users. 

One platform that stands out today is the MXC exchange which just recently celebrated its 3rd anniversary. This platform has made great strides in crypto, aiming to be the best service provider.

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