Popular cryptocurrencies: bitcoin, ethereum, solana, cardano, dogecoin, polkadot.
Crypto.com is known for its ads with Matt Damon and also for having won the rights to the famous legendary Staples Center in Los Angeles, the home of the Los Angeles Lakers NBA franchise.
The platform is one, along with Coinbase and FTX, of those who are most active in promoting the widest possible adoption of cryptocurrencies and the technologies on which they are based.
Pros : low transaction fees; it has a partnership with Visa and thus offers a debit card that can only be obtained after having owned the platform’s native currency, CRO, for 180 days; This card entitles you to many advantages; Crypto.com has a wide range of cryptocurrencies to buy, sell. Many advantages for those who own its native currency, CRO and keep it in their wallet for a long time.
The fees range from 0.04% to 0.4% depending on the operation. Crypto.com has the advantage of guaranteeing crypto for a value of up to $250,000.
Cons: The fees which are rather an advantage of Crypto.com can also be considered as a disadvantage because the platform charges 2.99% on transactions made with a credit card. While promoting security, Crypto.com was the victim of a hack in January . Cryptocurrencies worth $35 million were stolen on this occasion.
Finally, the firm lags behind in terms of educational materials compared to its rivals.
Popular cryptocurrencies: bitcoin, ethereum, solana, avalanche, cardano, dogecoin, polkadot.
FTX
The legendary quarterback, who has just retired, and his wife Gisele Bundchen own a stake in FTX and are its main charm ambassadors.
In the United States, users have access to FTX US, American Sister of FTX. This platform has a particularity that the transaction fees depend on the volume of transactions carried out over a period of 30 days. These fees range from 0.10% to 0.40%. The lower the trading volume, the higher the fees and vice versa.
FTX US customers must verify their identities to qualify for full access under know your customer (KYC) rules. ‘These rules limit the amounts that can be deposited daily or than can be rolled over a certain period.
It has advanced features for pro traders. Nor surprising since FTX presents itself as a platform “built by traders for traders.”
One of the cons of FTX US is that it has a limited number of digital currencies that can be traded. Which is not the case with FTX, its parent company.
It also has limited support options: some information, such as how to close your account, is difficult to find. There is no phone number and FTX US recommends customers to open a support ticket with their team using an online portal.
Popular Cryptocurrencies: bitcoin, ethereum, solana, avalanche, dogecoin.
The Winklevoss brothers, Tyler and Cameron, used part of the money received in the settlement with Mark Zuckerberg whom they accused of having stolen their idea of social network to create Facebook, to found Gemini.
Pros : the process to sign up for an account is free. All customers will need is their name, email address, password and mobile phone number to further secure their account. If customers want to buy/trade cryptocurrency, customers will need to add a funding source so this could be linking their bank automatically.
To complete the account, Gemini requires email and identity verification.
Opening an account is free and instant, but there is a verification process when customers want to trade cryptocurrency, which can take minutes or 24 hours.
Gemini offers Gemini Earn, an interest earning program that allows customers to earn up to 8.4% interest on 60+ cryptocurrencies available on our exchange. Gemini claims that it currently offer one of the highest yields of competitive crypto interest offerings and the most flexible redemption policies.
One of its best-selling point is that Gemini offers the opportunity for users to earn interest on cryptocurrency in every state, including New York.
Cons : Gemini’s biggest drawback is its transaction fees, which are among the highest of exchanges. They range from 0.5% to 3.99% depending on the payment method and the transaction.
Gemini offers a lot of things – security – but it comes at a cost. The platform is both for beginners and professionals.
Popular cryptocurrencies: bitcoin, ethereum, dogecoin, shiba Inu, uniswap.
Bybit, Kraken, Bitfinex, KuCoin, Huobi Global, Gate.io.
What Do Experts, Competitors Say?
Antoni Trenchev, co-founder and managing partner at Nexo, recommends giving a chance to small exchange platforms, like Nexo.
“Natural pros to large exchanges are things like high liquidity, more available assets, and complex trading tools. Add to this a larger user base, off of which one can gauge an established exchange’s credibility and reputability, and you have quite a secure and versatile offering to benefit from,” said Trenchev.
“As for cons to larger exchanges, the main risk is they hold billions in funds and may become more palatable targets for hackers. Another counterintuitive con of big exchanges is that they tend to offer market pairs for smaller coins and tokens only with bitcoin, ethereum, and tether, and not much else,” he continued.
Adding: “The result tends to be that we users have to make multiple swaps via the larger cryptos to get smaller assets. Meanwhile, smaller providers – usually crypto lenders like Nexo or wallets that have “swap” capabilities – sometimes offer so-called exotic pairs between two less-popular assets. I’d urge people to check out smaller trading venues in search of such pairs; they can be convenient and cost-efficient.”
As for Gautham J, CEO of decentralized exchange Polkadex, he urges potential cryptocurrency investors to also look at decentralized crypto exchanges, such as his platform Polkadex because, he said, they “provide the next generation of the decentralized exchange where blockchain secures user funds and offers the rich user experience and access to high-frequency trading that users expect, which is possible without handing our custody user funds to the orderbook operator.”
