Alternative Exchange Replacement For Binance

By fun2learn | fun2learn | 3 Oct 2021


I am quite sure there are many Binance users who are affected when Binance has to stop allowing them to trade on its platform due to regulations of the respective countries.

I was greatly affected when Binance announced that it would stop allowing Singapore users to use its spot trading of cryptocurrencies and liquid swap by 26 October 2021 on Wednesday.

I have been using Binance Smart Chain(BSC) for Defi activities and I have just recently invested in NFT in Three Kingdom Battles on BSC.

I tried to search for alternative exchange that can cater to BSC but most of them may only have cake and bnb on BSC.

I was accessing some of the exchanges that I have an account with yesterday and I found one exchange that is accepting many BEP-20(BSC) tokens on its exchange.

I felt that it was a good alternative to Binance for those who are still using Binance Smart Chain for Defi activities.

The exchange is Hotbit. Hotbit is not new to most of us as it has been around.

Below are the BEP-20 (BSC) tokens available for transfer to Hotbit below.

USDT, BTC, ETH, BNB, ALICE, ALPACA, ALPHA, ANI, ARENA, ARO, ARV, ASS, ATA, ATOM, AUTO, AWT, BABY, BABYDOGE, BABYDODO, BABYSHIBA, BAFE, BAKE, BALL, BASEREWARD, BAT, BBNET, BCH, BDO, BELT, BEST, BFG, BFI, BHC, BIBA, BIFI, BIN, BIRB, BLAST, BLT, BLZ, BMON, BNW, BONDLY, BONFIRE, BORING, BP, BPRIVE, BRO, BRY, BSCB, BSCGOLD, BSCPAD, BSW, BTCST, BTT, BUGS, BUNI, BUNNY, BUSD, BZRX, C98, CAKE, CARMA, CATE, CATGIRL, CELR, CFISH, CFX, CHESS, CHIK, CHNG, CHS, CLIMB, CLION, CLU, CLV, CNS, COCOS, COLD, COOKIE, CORGI, CRH, CRS, CRX, CTK, CTS, CTT, CUP, CWS, CYT, DAI, DAM1, DBALL, DCASH, DFC, DFTBSC, DFY, DIGIBET, DND, DNF, DODO, DOGE, DOGGY, DOP, DOT, DOVE, DPET, DRACE, DRS, DRSL, DRYCAKES, DUCKFINANCE, DUKE, DVI, DXCT, DXT, EARN, EARNX, EBSC, ECLIPSE, EDOGE, EGG, ELTB, ENERGY, ENV, EOS, EPS, ERIS, EZ, FARA, FEGBSC, FINUBSC, FIRETOKEN, FLAME, FLIGHT, FLOKI, FLUX01, FORM, FOX, FOXT, FOXY, FREN, FRONT, FTM, FWATCH, GAFI, GAT, GBE, GDM, GDR, GFI, GFX, GNT, GOAL, GOLDENINU, GREEN, GSD, GUM, HAM, HAPI, HELMET, HERO, HEROES, HIDEOUS, HMNG, HOG, HOLDEX, HTB, HUNGRY, HUI, IEM, IF, INJ, IOTX, IRON, IVG, JADE, JIND, JULD, KABOSU, KAIJU, KAIKEN, KAMPAY, KANGAL, KEF, KGO, KIND, KITTY, KIWI, KLT, KOSHU, KP3RB, KRN, KRYPTON, LAIKA, LATTE, LEAD, LEOPARD, LIEN, LINA, LINK, LITENTRY, LOUD, LOVELY, LTC, LVGC, MANGO, MASH, MBOX, MBOXKEY, MDF, MEL, MEONG, MION, MISTGAME, MMON, MNEB, MNG, MNSTP, MOFI, MOMO, MONI, MONS, MOOLAH, MOONLIGHT, MOONMOON, MOONRISE, MOONSHOT, MOONTOKEN, MPT, MSD, MSS, MTDR, MTF, MXF, NAFTY, NAOS, NASADOGE, NAUT, NCAT, NEAR, NF, NFT, NFTART, NFTBOX, NICHEMAN, NPT, NRV, OBS, ODDZ, OGC, ONE, OOE, OPEN, PABLO, PANTHER, PAPEL, PARA, PAYA, PERL, PET, PHO, PICA, PIG, PIT, PIZA, PIZZA, PLZ, PMON, PNIX, POCO, POCR, POFI, POODL, PORNROCKET, POTS, PSWAP, PTE, PVU, PWT, QBT, QUACK, QUAM, RABBIT, RALPH, RAMEN, RAMP, REAU, REEF, REFI, REVV, RFOX, RISE, ROCKET, RYOSHI, SAFEBTC, SAFEICARUS, SAFEMOON, SAFEZONE, SAFUYIELD, SATOZ, SBDO, SBULL, SCORGI, SDFI, SDOGE, SFC, SFM, SFMS, SFN, SFP, SFUND, SHI, SHIBCASH, SKILL, SKYMOON, SMD, SMON, SMOON, SMUDGE, SNOOP, SPE, SPIDER, SPP, SPS, SPY, STC, STEEL, STRI, SUPESONIC, SUSHI, SW, SWAMP, SWINGBY, SXP, TABOO, TFF, THG, TIGER, TITANWAR, TKO, TLM, TPT, TRGI, TRX, TSA, TWT, UBU, UCF, UCR, ULTI, UNFI, UNI, UNICORN, UNIF, UNR, USDC, VANCAT, VBSWAP, VICS, VIKC, VLK, WAIV, WANA, WATCH, WENMOON, WEX, WEYU, WGC, WOW, WSG, XD100, XIASI, XRP, XSAT, XTZ, XVS, XWG, YFBT, YFFII, YFI, YFIG, YOCO, YOOSHI, YSOY, YTOFU, ZABAKU, ZEROPAY, ZIL, ZOO AND ZOON.

The above list was collated manually by accessing the deposit tab of the Hotbit wallet within the exchange. Please forgive me if there is any typo error.

Some of these BEP-20(BSC) may not be trading anymore so you really need to do your own research.

I have also faced a situation when I transferred one ERC-20 token to Hotbit but later to find that there was an announcement that it had already been removed from its service. It was a good thing that it was not a huge amount.

It is a good rule of the thumb to transfer a small amount of your BEP-20 tokens first to see whether everything is working well before transferring more.

You may also want to check out the trading volume to ensure you can easily trade your tokens.

The exchange fee may also be a bit higher than Binance.

On the other hand, there are also quite a number of good advantages in Hotbit.

We do not need to complete KYC to use the exchange. KYC would only need to be provided if there is suspect of fraud.

There are many cryptocurrencies on different blockchains available on Hotbit so it is not hard to find the token that you wanted to exchange for.

Hotbit offers staking as well as many other services.

About 5 days ago, it started a new invitation rebate function. By getting a successful referral, both referral and referrer can share up to 60% of every true transaction fee generated by the referral.

In short, there is a profitable referral program that we can earn by referring others to use Hotbit.

It would be a win-win for both referrer and referral. Below is the detail of the referral program.

https://hotbit.zendesk.com/hc/en-us/articles/360051828853-Invite-Your-Friends-To-Register-Hotbit-Accounts-And-Receive-Commissions-As-Reward-Latest-Update-On-Rules-and-Regulations-

Signing up for Hotbit is not really difficult. No KYC is needed and I remember that we simply need to verify our contact number or email if I do not remember wrongly.

Some other exchanges like poloniex, hoo, kucoin etc do allow BNB (BEP-20) for transfer but they do not have as many BEP-20 tokens when compared to Hotbit.

Remember to do your own research if you are interested in using Hotbit.

Click here to sign up for an account for Hotbit if it interests you as it will definitely have no harm to have more than one option to transfer our BEP-20 tokens out of the Binance Smart Chain.

Hope that this is an useful article for those who are facing the same issue with Binance exchange.

Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth.

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fun2learn
fun2learn

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fun2learn
fun2learn

An educator who often writes educational articles as well as crypto-related articles.

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