Top Centralized Exchanges to Trade Cryptocurrencies in 2021
This year has started with a bang for crypto traders. The market is in the middle of a legendary bull run, and Bitcoin and altcoins are at all-time highs. This momentum continues to draw more attention and new investors into the sector. To service these investors, there needs to be a variety of helpful exchanges.
Centralized exchanges are the most popular type of exchange in the market today. These exchanges differ from DEX (decentralized exchanges) because a centralized firm runs them. In most instances, centralized exchanges are custodial. You will need to load your funds onto the exchange’s network wallet to trade your digital assets. Many investors prefer centralized exchanges over other options because they can be regulated and offer insurance services.
Bitfinex has been a major contender in the market since December 2012. As one of the first exchanges to gain momentum in the market, the platform has earned a reputation as a highly respected trading option. Notably, over the last 9 years, the network has expanded its options and security features.
Bitfinex is a global platform that serves 52 countries at this time. According to recent reports, Bitfinex is responsible for just over 1% of the entire cryptomarket’s total volume. Bitfinex is also well known as the first exchange to offer USDT (Tether) as a stablecoin option. The combination of new features, security, or ingenuity has helped Bitfinex remain a strong contender in the sector.
Read the full review of the Bitfinex exchange here.
Robinhood is another centralized exchange option. Unlike Bitfinex, Robinhood Crypto is fairly new as it’s a branch of the network’s popular trading app. This free-trading app allows cryptocurrency traders to buy and sell top coins without fees. This fee-less approach makes the network ideal for new investors and those seeking to participate in the network with small transactions.
The network offers a Gold Service that you pay around $5 a month to gain access to more features. You can trade on margin and access more market data when you sign up for this account. Robinhood is unique in that most stock brokerage firms are hesitant to incorporate crypto trading activities. As such, Robinhood stands as a pioneering force in the sector.
Read the full review of the Robinhood exchange here.
OKEx is a globally recognized trading platform that offers features for both new and experienced traders. The network features advanced features such as margin and futures trading. You can even trade with up to 125X leverage on approved accounts. The introduction of high leverage, margin, and OTC features makes OKEx a wise choice for experts.
The network is very popular and consistently ranks within the top 10 exchanges in terms of market capitalization. OKEx is available across a nice selection of platforms, including Windows, Mac, iOS, and Android. Today, the exchange registers over 20 million active users and offers 400 trading pairs and more than 200 assets. Best of all, the network includes a host of video tutorials to help you get started.
Read the full review of the OKEx exchange here.
eToro is another popular choice for those seeking a reputable centralized exchange. eToro officially launched in the U.S in 2007 and is registered in Cyprus. The network supports 15 cryptocurrencies at this time. Interestingly, non-US investors can also trade equities and FOREX on the exchange.
eToro is best known for its copy trade options. You can easily scroll through hundreds of active professional traders to find the best and most profitable users. You can select to copy their trades via the social trading feature. Once activated, your account will duplicate the trades of the trader you chose. This feature is very popular and has helped eToro secure more than 13 million users in 140 countries in only a few years.
Gemini is unique in many ways. The network is a regulated cryptocurrency exchange, wallet, and custodian. Unlike the competition, this network isn’t just an exchange holding a Bitlicense. The network achieved a unique status as a New York State limited liability Trust. In this way, Gemini can provide users with a trading experience more akin to Wall Street.
Gemini is user-friendly and well designed. You can buy and sell 20+ digital currencies without any prior technical understanding of the market. You can also purchase many cryptocurrencies directly using fiat currency or other cryptos. Gemini has never been hacked, and 98% of users’ funds remain tucked safely away in cold storage accounts.
Read the full review of the Gemini exchange here.
BlockFi offers its users the unique opportunity to earn interest on their cryptocurrency deposits. This feature works like a supercharged savings account that pays out up to 0.8% annually. In comparison, you would be lucky to get 0.02% from any fiat currency holdings at your local bank.
BlockFi users have access to a debit card that automatically converts your Bitcoin to fiat at the time of your transactions. In this way, you can spend your crypto anywhere that accepts VISA. Impressively, BlockFi offers some DeFi capabilities in the form of a p2p lending protocol. You can earn interest by lending out our idle crypto, or you can take out a loan to strengthen your position using the system. Best of all, BlockFi has an impeccable security record that includes zero hacks.
Read the full review of the Blockfi here.
Huobi is one of the largest exchanges in the world. This global exchange earned a reputation for deep liquidity and reliable trading services. Huobi provides global trading options but has a premier focus on the Asian markets. Huobi users can load their account with any of the 27+ fiat currencies this exchange supports. The website is also available in a wide variety of languages as part of this international approach.
Currently, Huobi ranks in the top ten exchanges in the world in terms of market capitalization. Additionally, the network has an excellent selection of coins. The network supports 290+ crypto at this time and is consistently adding new projects that meet their stringent quality requirements. This coin selection and liquidity make Huobi a wise decision for both new and experienced traders in the market.
Read the full review of the Huobi exchange here.
Bithumb Global was built to meet the greater needs of the international crypto community. The exchange reflects the advancements made in the sector over the last 5 years.
Bithumb Global encapsulates the most exciting features from a variety of different blockchain sectors to create a truly unique investor experience. The platform takes inspiration from other successful exchanges and adds a plethora of new features to cater to the international blockchain investment community. Moreover, you can see aspects of the DeFi community such as its unique staking mechanism.
Read the full review of the Bithumb Global Exchange exchange here.
Many investors consider Bitstamp as the world’s longest-standing crypto exchange. The network features a responsive interface that is suitable for both intermediate and experienced investors. Impressively, Bitstamp was the first fully regulated EU exchange. Specifically, the network is regulated by the Luxembourg Financial Industry Supervisory Commission (CSSF) at this time.
Customer service is another big plus for Bitstamp users. The network features a telephone number to call and get all of their questions answered in real-time. In comparison, most exchanges require you to fill out a trouble ticket and await an email. The addition of a helpline makes Bitstamp a wise decision for new users who may not have a firm grasp of the market’s trading strategies and coins. Additionally, Bitstamp has a transparent fee structure that is far below the industry standard.
Read the full review of the Bitstamp exchange here.
Poloniex is a fully regulated centralized exchange worthy of your review. The network was one of the first platforms to enter the market. Over the last decade, Poloniex has maintained its commitment to its users and has expanded its coin selection and user base. Notably, Poloniex was the first crypto exchange to seek regulatory approval from FinCEN actively.
Poloniex users enjoy a simple user interface with an appealing design that simplifies all the most common trading activities. The network supports over 100+ cryptocurrencies at this time and a variety of popular fiat currencies. Poloniex offers a competitive fee structure and unlimited deposits to users.
Read the full review of the Poloniex exchange here.
Bityard is a regulated and centralized custodial exchange option that continues to gain momentum in the market. This platform is a little different than its counterparts in that it offers cryptocurrency derivatives rather than crypto directly. Crypto derivatives are contracts based on the future price of digital assets. They are crucial to expanding the crypto market because they offer large financial institutions a way to participate without holding crypto directly.
Bityard is considered one of the world’s leading cryptocurrency contract exchanges. The network is regarded as a straightforward, user-friendly option. The interface makes it easy, fast, and safe to trade cryptocurrency asset contracts. Notably, crypto derivatives have long been a topic of discussion in the market. Their introduction was hailed as a major step forward for the entire sector. As such, Bityard stands as a pioneer in the market.
Read the full review of the Bityard exchange here.
Coinone is an entry-level exchange designed to support the Korean market. Users can effortlessly buy, sell and store Bitcoin, Ether, and other top coins without previous trading experience. The interface combines simplicity and regionalization to provide Korean investors with a tailored approach to the market.
Impressively, Coinone consistently ranks among the top three cryptocurrency exchanges in Korea based on market capitalization. The network continues to see more adoptions due to its top-notch security protocols and advanced features. For example, Coinone users can utilize Multi-sig wallets to keep their holdings protected from unauthorized withdrawals.
Read the full review of the Coinone exchange here.
BitMAX is a third-generation digital asset trading platform. This global exchange provides traders with many benefits that have helped it become a major contender in the space. The interface provides a simple and secure trading experience to traders. Additionally, the platform is packed full of features that reflect its Wall Street heritage.
BitMAX services institutional and professional traders. Its Wall Street-like approach helps bridge the gap between the traditional and blockchain investment sectors. BitMAX entered the market with much fanfare. The network has backing from some major players, including Bitmain, Matrix Partners China, FBG Capital, and Danhua Capital.
Read the full review of the Bitmax exchange here.
Top Centralized Crypto Exchanges in 2021
Now that you have a little more insight into the top centralized cryptocurrency exchanges for 2021, you are ready to expand your strategy. These platforms earned their reputations by providing traders with reliable and safe experiences. Today each of these platforms is recognized as the best in their class. For those seeking a regulated and centralized trading experience, it would difficult to find exchanges better suited for the job than those listed here.