The five best crypto exchanges for gamblers in 2021
More and more people are showing interest in cryptocurrencies today, and this is being reflected in the increasing price of tokens such as Bitcoin and Ethereum. These assets have delivered staggering returns over the last 12 to 15 months, as have most other cryptocurrency tokens, and it seems as though cryptocurrencies are here to stay. Increasingly, we are seeing governments and central banks open up to the idea of cryptocurrencies as part of mainstream financial markets. Canada has seen multiple ETFs based on cryptocurrencies get listed on the Toronto Stock Exchange, for example, and the Securities and Exchange Commission in the United States is also considering several applications for the same. While there are still quite a few countries where crypto trading is restricted or banned, attitudes seem to be changing in these countries, and the growing value of the crypto market is proving to be quite attractive for people all over the world.
Thus, it is important for people to know where they can invest in cryptocurrencies from, and what the various alternatives are for this. We will now provide a list of some of the best crypto exchanges globally, with their advantages, disadvantages, and features, for you to be able to make an informed choice in this regard.
Coinbase is the largest crypto exchange in the world, offering more than 50 cryptocurrencies for trading, including Bitcoin, Ethereum, Litecoin, Dogecoin, and Ripple. There are multiple investment options for both individual and institutional investors, while it also has mobile apps for easy use. Other features include staking rewards, as well as a Coinbase Earn option where you can earn in crypto tokens for watching educational videos. There is a 0.50% spread for buy/sell transactions, while fees range from $0.99 to $2.99. Coinbase Pro is the option for advanced traders, with access to trading bots, real-time order books, and charting tools, while Coinbase Prime is for institutional investors and high net worth clients i.e. those with at least $1 million. Prime users also have access to commercial services, cold storage for their assets, as well as an Asset Hub that allows issuers to list and grow their tokens on the platform.
Binance primarily caters to US investors – it also offers individual and institutional accounts, and provides trading access to over 50 crypto assets. Some of the features include staking rewards, recurring investments, where users can automatically invest in tokens at a set schedule, OTC trading, crypto trading pairs, as well as access to Stablecoins i.e. coins that are backed by US dollars. Staking rewards can range from 1-2% annually to as high as 6-9%, depending on the asset. There are features for institutional clients as well, including a Websocket feed that provides real-time market data, a trading API, monthly staking rewards, 24/7 customer service, and an OTC trading desk. Fees are also quite low – there is a 0.1% spot trading fee, while a 0.5% instant buy/sell fee is applied, although deposits using US debit cards will be charged a 4.5% fee as well.
Like the above exchanges, Kraken also offers more than 50 crypto tokens for trading, but unlike Binance, it operates in 200 countries. Another big point of difference is that Kraken supports margin and futures trading. You can borrow up to five times of your account balance to trade through the margin trading option, while futures trading is available for Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple. Institutional clients can take advantage of expert advice, one-on-one consultations, and account management support, while all users have access to staking rewards and educational resources. Fees range from 0% to 0.26%.
Bittrex is perhaps the best crypto exchange when it comes to account security. It has two-factor authentication, in addition to multi-wallet storage to keep tokens secure, as well as offline or cold storage. The exchange has a maker/taker fee schedule that is based on your 30-day trading volume, with a 0% – 0.35% fee range. However, one big advantage is that Bittrex does not charge anything for USD deposits or withdrawals. Crypto withdrawals have a minimal network fee to be paid, but overall, Bittrex is one of the safest and cheapest exchanges out there. However, it is not the best option if you are looking for a vast market of crypto tokens to trade in, since it only offers 25 cryptocurrencies at the moment.
CEX.IO is a global crypto exchange which supports traders in virtually every country in the world. It has one of the largest selections of crypto assets, giving users access to over 80 cryptocurrencies. Users can also take advantage of its instant buy feature, staking rewards, as well as crypto-backed loans. There are spot-trading orders for more advanced traders, as well as margin accounts, while institutional investors can use its aggregator and payment management services. It has a maker/taker fee schedule that is similar to Bittrex, ranging from 0.16% to 0.25%, but debit and credit card transactions can be a little expensive.