Top 5 Crypto-to-Crypto Exchanges for Intermediate Traders
Finding the right crypto-to-crypto exchange is a vital step in progressing your trading strategy. Crypto-to-crypto exchanges provide users with some significant advantages in terms of coin selection and ease of onboarding. Many of these platforms don’t support fiat currency trading pairs. As such, they don’t require you to undergo intrusive KYC protocols.
Nowadays, there are more crypto-to-crypto options in the market. Part of this increase in selection can be attributed to the rising popularity of DEXs (decentralized exchanges). Here are five options that have proven their reliability and commitment to users.
As the largest Ethereum Dapp in the world, Uniswap is vital to the crypto sector. This exchange was designed to allow anyone to trade ERC-20 compliant tokens with ease. The network is packed with new and hard-to-find projects. Consequently, it continues to see growing adoption.
As a truly decentralized exchange, you enjoy maximum privacy. You don’t need to log in or even register to use this popular trading platform. The network is non-custodial, so all of your trades complete in a peer-to-peer manner. All you need to use Uniswap is an ERC-20 compliant wallet such as Metamask. You link your wallet to the exchange, and you’re ready to start trading.
Another benefit of this platform is its UNI token. This token acts as the main exchange and governance token of the ecosystem. Notably, Uniswap has seen an increase in usage ever since the rise of DeFi (decentralized finance). Since most of these networks live on the Ethereum blockchain, Uniswap has become critical to the market.
Impressively, many of these new projects rely on Uniswap as one of their core protocols. New platforms can seed a liquidity pool on Uniswap and start trading their tokens in minutes. This policy of open access has helped Uniswap become the dominant DEX in the market.
BlockFi entered the market in 2017 and is another interesting project worth taking a peek at. This cryptocurrency exchange is centralized and does support direct fiat to crypto trading pairs. You will need to register and provide identification before your account is approved. Once approved, you can enter the blockchain market directly and gain access to a wide selection of coins and tokens.
BlockFi is known for its innovative approach and DeFi features. Users can earn interest on their holdings on the platform. Specifically, users can earn up to 8.6% annually on their deposits. These interest payments far exceed those found in traditional savings accounts, which average around 1% annually.
This platform also introduces some other nifty features that are sure to interest investors. For example, users can take out loans in USD using cryptocurrency as their collateral via its decentralized lending protocol. Users also gain access to a crypto Visa debit card. This card offers 1.5% Bitcoin rewards on all purchases.
KuCoin is another centralized option with an impressive selection of altcoins to trade. The network offers users access to 500+ assets. Of these, there are 200+ cryptocurrencies available to further your trading efforts. Users seek out KuCoin when they desire to trade hard to find low market cap options not traded on other platforms.
The network offers some of the most competitive fees available to centralized exchange users. There is a flat fee of 0.10% applied to all spot trades. In comparison, many other platforms have rates as high as 2.3%. Notably, this low fee structure extends across the network, including low deposit, withdrawal, and trading fees all included.
KuCoin offers an interactive and easy-to-navigate interface that allows both intermediate and new users to find the coins they desire in seconds. This combination of factors has made the platform extremely popular. Consequently, KuCoin users gain access to deep liquidity, an excellent selection of supported assets, several markets, and hundreds of cryptocurrency trading pairs.
If you are looking for a more mature crypto-to-crypto exchange option, Hitbtc is one of the oldest and most successful options to consider. This established platform has been serving the crypto community since 2013 and launched too much fanfare after securing $6 million in venture capital. The network has received praise for its responsiveness, reliability, and ability to support massive liquidity.
Hitbtc is an unregulated platform, so it has a bit more flexibility in terms of registration requirements. Despite being unregulated, the network has earned a reputation for providing a stable trading environment to users. This reputation, coupled with an excellent selection of coins and contests, has helped the platform to remain a top contender.
Today, Hitbtc users can access 800 trading pairs and 500+ spot crypto instruments. Each of these markets displays real-time updates to help you remain ahead of the trend. Whale investors gain extra benefits when they trade on Hitbtc. The network offers rebates to traders who conduct large maker orders.
Bittrex is one of the most popular and secure crypto-to-crypto trading platforms in the world. The network supports 442+ trading pairs with 100+ altcoins. One of the main draws of this platform is that developers continually add new projects to keep you on the cutting edge of market developments.
As one of the most popular exchanges on this list, Bittrex users have no problem filling their orders due to a large amount of liquidity found on this platform. The network frequently averages over $50 million in daily trading volume. Best of all, your fees drop after you hit the network’s 30-day volume threshold.