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6 Best Crypto Exchange Platforms in the UK in 2023
Dexs6 Best Crypto Exchange Platforms in the UK in 2023As the cryptocurrency market continues to grow, more and more exchanges are popping up in the UK. But with so many options, it can be challenging to choose the best platform for your trading needs. Here we've compiled a list of the top crypto exchange platforms in the UK in terms of usability, safety, features, fees, supported crypto, and more. 1. eToro—Best in Ease of Use eToro is one of the best crypto exchanges globally, offering over 70 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. It's regulated in multiple jurisdictions, including the UK. eToro is also secure and easy to use, allowing its UK users to instantly deposit funds using a credit card, debit card, e-wallet, or via bank transfer. Opening a verified crypto account on the platform is fairly straightforward and takes five minutes. One of eToro's top features is its Copy Trading tool, which allows both new and experienced investors alike to mimic the trades of expert traders in the cryptocurrency space. The platform's crypto portfolio is also updated regularly, making it a great exchange if you're into altcoins, meme coins, or stablecoins. 2. Kraken—Best in Security Kraken has been around since 2011 and has remained one of the top platforms for buying, selling, and trading crypto. The platform ensures the safety of its users' assets through regular security testing and bug bounty programs, in addition to a strict protocol for keeping assets safe in cold storage. Kraken has never experienced a platform-wide crypto hack and likewise extends its security measures to its users through PGP asset encryption, two-factor authentication, and global setting lock. Kraken also offers a wide range of cryptocurrencies and has an iOS and Android-compatible app to allow trading on the go. 3. Bitstamp—Best for High-Volume Traders Bitstamp is a great place for buying crypto in the UK with low fees. It's one of the longest-running exchanges worldwide and has been around since 2011. As such, its reputation for exceptional safety, user experience, and asset offerings is also quite high. Bitstamp offers over 50 cryptocurrencies for trading within the UK and charges a flat fee of 0.5%. The fee drops to 0.25% for transactions exceeding £7,975 in trading volume per month, making it a great option for high-volume traders. Crypto can also be bought instantly by credit or debit card, but this will result in a 5% fee per transaction. For safety, 98% of customer holdings are offline and Bitstamp offers asset protection with BitGo insurance. 4. Coinbase—Best for Beginners Coinbase is one of the most user-friendly crypto exchanges, making it a great option for crypto beginners in the UK. The platform allows users to buy crypto instantly through a debit or credit card and has a standard transaction fee of 3.99%. Users can also transfer their funds into a UK bank account for a standard commission fee of 1.49%. While the platform's fees may seem steep compared to that of other exchanges, users find that its user-friendly interface and intuitive design more than make up for it. 5. Crypto.com—Best in Mobile Crypto.com's 10 million users worldwide are a testament to its ease of use, especially if you prefer trading on your mobile device. The platform offers a wide range of cryptocurrency options and allows for instant purchasing through a credit or debit card. The platform charges a 0.4% maker/taker fee whenever users buy or sell cryptocurrencies. However, fees can be reduced further for payments made in Cronos (CRO), the platform's native token. Crypto.com's app is well-designed and very easy to use, making it a great option for tracking assets and staking CRO—which offers a 34.6% annual percentage yield (APY). Their Crypto Earn feature also allows users to earn interest up to 14.5% APY on 50 cryptos. 6. OKX—Best in Versatility OKX is one of the top crypto exchanges in the UK owing to its versatile assets and services. In addition to buying, selling, trading, and storing cryptos, users can immerse themselves in its vast library of educational materials, allowing them to hone their crypto trading skills. OKX has basic and advanced trading features, making it a great platform overall for both newbies and experienced traders. The platform is also very secure, with 95% of client funds held in cold storage, in addition to supplementary semi-offline wallets for the other 5%. Fees on OKX are also quite low, at 0.1% taker and 0.08% maker, making it one of the most cost-effective options for traders. Investors who choose to take out a fiat loan on OKX can also use their crypto as collateral—a great option for those looking to diversify their investments. Conclusion Overall, there are a variety of great options for crypto trading in the UK. The best exchange ultimately boils down to your individual preferences and needs. Be sure to do your own research and choose the platform that best suits your style of trading. » Looking to invest elsewhere? Explore the best crypto exchange platforms in the US and Argentina
3 Best Crypto Exchange Platforms in the US in 2023
Dexs3 Best Crypto Exchange Platforms in the US in 2023Blockchain technology has grown by leaps and bounds over the past several years, and with more and more people joining the crypto craze, more trading options have emerged. However, if you're new to trading, it can be challenging to determine which cryptocurrency exchanges have the features you're looking for. To help narrow down the options, here are some basic factors to look at when comparing potential US-based cryptocurrency trading platforms. Choice of Crypto There are over 19,000 cryptocurrencies in circulation. Most exchanges will carry high market cap currencies but for those interested in unconventional coins, you may have to look into niche exchanges.Security Keep your assets safe by choosing a reputable cryptocurrency exchange that employs industry-standard security measures like two-factor authentication (2FA) and strong encryption.Transaction Fees There isn't a standard charge for exchanges yet, so trading and commission costs may vary. These costs may appear small at first, but can add up in the long run.Liquidity A highly liquid exchange allows traders to trade at any time since it receives a significant number of orders daily. It also implies many users trade on it. Below, we've compiled the 5 best crypto exchange platforms in the US that are capable of carrying your investments safely into 2023. 1. Gemini Establishment and Offering The Winklevoss brothers founded Gemini in 2013. Gemini is regulated by the New York State Department of Financial Services (NYDFS) and other global institutions. It supports over 50 coins and is easily accessible across all US states. Fees Every trade on the platform comes with convenience and transaction fees. The convenience fee amounts to about 0.5% of the market price and is payable in the cryptocurrency you choose to purchase. Trading crypto imposes a flat processing fee of 1.49%, while the fee to buy or sell cryptocurrency varies from currency to currency. Pros and Cons Gemini offers a versatile trading platform. It's easy enough for beginners to use, but also offers advanced features that are appealing to serious traders, including a portal for peer-to-peer trading, insurance against exchange hacks, block trading, and advanced charting. However, Gemini's fees are higher than some other crypto exchanges, but its high functionality and advanced security measures make it worth it. 2. Coinbase Establishment and Offering Coinbase is one of the largest exchanges. It has a presence in over 100 different nations and has even introduced a Visa debit card in the US and Europe. In 2021, the exchange made $7.8 billion in revenue from a user base of over 98 million. Fees A "Coinbase Fee" is added to every transaction on top of the spread and the cost of depositing money. This fee varies and depends on the transaction amount, payment type (debit or credit), and location of purchase. Pros and Cons It’s one of the best and most user-friendly platforms for beginners with more than 150 cryptocurrencies, including all the major ones, available to US traders. Additionally, users can receive token rewards and interest in USDT by fulfilling certain tasks on the exchange. They may also opt to use the Coinbase wallet. However, it does charge higher fees compared to its competitors and the fee structure can be confusing. 3. Kraken Establishment and Offering Kraken was established in 2011, making it one of the oldest Bitcoin exchanges in the world. The platform offers access to over 150 cryptocurrencies, including DOGE and other risky coins, to both beginner and experienced traders. Fees Rates offered to entry-level traders are up to 2%—slightly higher than some of Kraken's competitors. However, the fees offered to advanced traders on the Kraken Pro platform are very low at only 0.26%. Pros and Cons There are few exchanges as safe as Kraken. Compared to other exchanges, it ranks second in security overall and has seen no major hacking incidents since its inception. Its servers are secured in cages with 24-hour armed guards and camera surveillance. All private contact data is encrypted, and the system is regularly tested for vulnerabilities. Unfortunately, Kraken is not available in all US states as it excludes New York and Washington. Additionally, it uses a service called Trustly to let users link their bank accounts and while the service has 1,000 banking partners, if you're bank is not one of these partners you may not be able to complete transactions. Conclusion With so many options to choose from in the market, it's important to think about what kind of exchange best fits your needs. While investing in cryptocurrencies is exciting, it's not without its downsides. Do your own extensive research to make sure you understand how these platforms work before using them to avoid any catastrophes. » Looking to invest abroad? Explore the best crypto exchange platforms in Argentina and crypto trading platforms in the UK
3 Best Crypto Exchange Platforms in Argentina in 2023
Dexs3 Best Crypto Exchange Platforms in Argentina in 2023Picture this: You finish the registration process at a crypto exchange platform, including KYC, only to discover that you can't buy or sell the altcoin you're interested in. Or, whenever purchasing assets, you incur high currency exchange costs because the platform doesn't support Argentine Pesos or local payment methods. It's definitely a difficult situation to be in. While there are numerous crypto exchange platforms on the market, the one you choose will significantly impact your overall trading or investing experience. Some factors you should consider include payment methods, fees, supported currencies, compliance with laws, security, personal goals, and user experience. So, we compared different offerings with all these factors in mind and identified Argentina's top three crypto exchange platforms. Read on to see why they made the cut. 1. Paybis Establishment and Offering Paybis is one of the first well-established crypto exchanges for people from Argentina. The UK-based exchange was founded in 2014, giving it a long history in the crypto space. On this platform, users can buy around 50 different cryptos using one of the supported 47 fiat currencies, including Argentine Pesos (ARS). Fees You can expect to pay a 2.49% fee for every transaction and a 4.5% payment processing fee when using credit cards. Pros and Cons Paybis is an excellent choice for beginners that are buying crypto with a credit or debit card in ARS and keeping them. If you don’t want to store your crypto at Paybis, you can instantly send the purchased assets to another wallet of your choice as Paybis allows for easy and simple transfers. Additional benefits include 24/7 online customer support, a platform available in Spanish, high limits of up to $20,000-$50,000 per week for credit or debit card purchases, and up to $200,000 weekly for bank wire transfers. However, Paybis isn’t heavy on advanced trading features, so we wouldn’t recommend it to those seeking to trade frequently. Paybis also has limits for each transaction depending on the payment method and fees are on the higher end. 2. Satoshi Tango Establishment and Offering Satoshi Tango markets itself as one of the first brokers in Latin America. The platform has more than 8 years of experience in the market and allows users to easily buy, sell, swap, and margin trade 15+ cryptos. The platform is not just amazing for Argentinians, but also for other crypto enthusiasts from South America. In addition to ARS, Satoshi Tango also features Peruvian Sol, Brazilian Real, and Chilean Pesos. Fees Satoshi Tango charges a fixed 1% transaction fee every time you buy or sell crypto. But if it's a crypto-crypto purchase, you'll pay a 0.5% fee instead. Pro and Cons Regarding the user experience, we believe Satoshi Tango offers one of the best there is. You can expect 24/7 customer support, nearly 20 popular cryptos on offer, and margin trading with a 5x leverage. The platform even has a feature to help you pay utility bills using the crypto in your account. While Satoshi Tango might appear perfect, it still has some downsides. The platform charges relatively high withdrawal fees, which vary depending on the method used. However, the fee structure is clear so you can determine if it'll work well for you before getting started with the platform. Additionally, their variety of cryptos is quite limited, so we wouldn’t recommend it if you plan on investing in altcoins. 3. Binance Establishment and Offering Binance is one of the largest crypto exchanges along with Coinbase and FTX. It's available in Argentina and allows Argentinians to buy crypto with their native currency through Binance's P2P (peer-to-peer) network to trade with other users. Fees Binance has low trading fees, which are set at 0.1%. Pros and Cons Binance provides advanced trading features for both new and experienced traders, including advanced trading tools, high levels of security, 24/7 chat support, and resourceful learning materials. You can also obtain the Binance Argentina Card, which allows you to spend your crypto in both online and brick-and-mortar stores. You'll get 1% to 8% back in BNB on every purchase you make with the card, depending on how much BNB you're holding in your card. On the downside, some users may find the Binance identity verification process lengthy. Unfortunately, this could scare some newbies away, as they’ll find it overwhelming. Still, this is for the greater good, as Binance wants to ensure that you’re using the platform's services safely and fairly. Conclusion While there are numerous crypto exchanges for Argentinians interested in crypto, not all of them are created equal. So, before joining and depositing money at any exchange, it’s essential to exercise due diligence and consider various factors. Do your own thorough research regarding fees, payment methods, customer support, and security to match your trading goals. » Looking to invest abroad? Explore the best crypto exchange platforms in the US and crypto trading platforms in the UK
3 Best Crypto Exchange Platforms in Hong Kong in 2023
Dexs3 Best Crypto Exchange Platforms in Hong Kong in 2023Cryptocurrency exchange platforms offer investors an easy and secure way to buy, sell, and trade crypto. However, many new traders get carried away by a well-designed website or the hype made by famous crypto influencers. Unfortunately, not all platforms are worth your time and money. Even among reputable exchanges, their offerings and services may differ slightly, with some being better suited to your trading needs than others. So which crypto exchange is best for Hong Kong investors? You must consider various key factors, including individual trading goals, Hong Kong regulations compliance, track record, fees, security, supported coins, and payment methods. To help you, we conducted an in-depth analysis while considering all these factors. Below are the top 3 crypto exchange platforms in Hong Kong for 2023 from our research. 1. Cex.io Establishment Cex.io is one of the best crypto exchange platforms for Hong Kong traders and investors, with a good track record dating back to 2013. This London-based exchange began as a cloud mining provider but then refocused on becoming a global cryptocurrency exchange in 2016. Functionality On this platform, users can buy or sell crypto via fiat currencies, trade over 100 cryptos and tokens, earn rewards by staking cryptos, and borrow crypto-collateralized loans. Moreover, Cex.io has a reputable history of taking regulations seriously in multiple jurisdictions. So, it’s safe to assume that it will quickly comply with any future crypto trading regulations imposed by Hong Kong's Securities and Futures Commission (SFC). Fees Like other crypto exchanges, your trading fees will be based on your 30-day trading volume. New and low-volume traders should expect a 0.25% taker fee and a 0.15% maker fee, while more seasoned ones can expect lower fees. There are also daily deposit limits and commissions that vary by payment method, though they’re on the lower end. Pros and Cons One of the conveniences of trading with Cex.io in Hong Kong is that it accepts payments through Hong Kong's Faster Payment System (FPS). Other accepted payment methods include debit and credit cards and wire transfers. Regarding its security, Cex.io has had zero security breaches so far. The platform's notable security features include an internal KYC policy, two-factor authentication, cold storage for user crypto funds, and data encryption. Finally, Cex.io also features a dedicated trading experience, with spot trading and margin trading. However, absolute beginners may be overwhelmed by this abundance of features, so we suggest they take it slow or use another platform. 2. BitMEX Establishment BitMEX (Bitcoin Mercantile Exchange) was launched in the island country of Seychelles in 2014, giving it a relatively long history in the fast-growing crypto industry. Functionality BitMEX isn't your typical Hong Kong crypto exchange platform for buying, selling, and trading cryptocurrency. Instead, it focuses on crypto derivatives trading, which includes futures and perpetual swap contracts on various cryptocurrencies. As a result, BitMEX is ideal for experienced and professional traders looking for professional-grade derivatives. Fees You can capitalize on low trading fees and zero withdrawal and deposit fees on BitMex. Pros and Cons Some benefits of trading on BitMEX include high liquidity for crypto derivatives, the low fees just mentioned above, no ID verification requirements, and leverage of up to 100x on Bitcoin and Ethereum. However, the downsides of BitMEX include a lack of fiat currency deposit options, a lack of regulatory compliance, complex features for inexperienced traders, and a restriction on crypto-to-crypto-only trading. 3. Crypto.com Establishment Crypto.com was launched in 2016 in Hong Kong to serve as a one-stop shop for all crypto features. Currently, the platform supports well over 250 currencies and constantly offers 50% off newly-listed tokens, making it ideal for those looking to acquire altcoins. Functionality Beyond buying and selling crypto, the exchange offers other quite solid features. These include spot and margin trading for 200+ pairs with up to 10x leverage, 40+ quarterly futures and perpetual contracts, deposit bonuses, high daily rewards for staked coins (up to 14.5% APY), a stand-alone crypto wallet, a cashback card, and even an NFT marketplace. The exchange also provides trading fee discounts to investors with large CRO balances (Crypto.com native cryptocurrency). Fees The average trading fee is 0.4% for new or low-volume traders, which is definitely on the higher end. However, high-volume traders can benefit from trading fees of as low as 0.04% as a maker or 0.1% as a taker. Pros and Cons Crypto.com offers a wide range of functionalities, making it an attractive platform for traders. However, Crypto.com isn’t perfect. Cons include a lower trading volume, which might result in higher trading fees unless you hold and use CRO. Conclusion We can summarize that some of the best crypto exchange platforms suited for Hong Kong traders are Cex.io, BitMEX, and Crypto.com. Still, remember that your trading goals ultimately determine the best platform for you. Do you want to buy some cryptocurrency and hold it in the long term? Or is your goal trading actively and earning on the go? Depending on your requirements, the answer for the best crypto exchange for you will vary. Therefore, we recommend doing your own research to find the best platform for you. » Looking to invest in Singapore? Discover the best crypto exchange platforms in Singapore
3 Best Crypto Exchange Platforms in Singapore in 2023
Dexs3 Best Crypto Exchange Platforms in Singapore in 2023Every seasoned crypto trader or investor will agree on one piece of advice for beginners: if you're serious about investing in cryptocurrency, you must choose a safe and reputable exchange to buy, sell, and trade from. However, with all the exchanges on the market and so much hype surrounding them, how do you know if a platform is safe and best suited to your needs? Firstly, you shouldn’t choose an exchange based on hype or speculation—you should look at the important factors, such as: Payment optionsFees and commissionsPrice quotesSupported coinsRegulation by the Monetary Authority of Singapore (MAS)Customer supportSecurity We understand that analyzing various exchanges isn't an easy task. That's why we have done the heavy lifting for you and shortlisted the top three crypto exchange platforms in Singapore for 2023. 1. Coinhako Established Date and Regulation Established in 2014, Coinhako is one of the most popular and reliable crypto exchange platforms in Singapore and Asia in general. You can use Coinhako confidently and reliably as it's regulated by the MAS under the Payment Services Act. Fees This exchange offers traders competitive trading fees. USDC/USD trades have a 0% commission, while all other stablecoin-fiat trades have a 0.3% commission. Outside of stablecoins, Coinhako charges a 0.6% fee for every buy, sell, or swap transaction, which is on the lower end. Regarding payment fees, Singapore dollars (SGD) deposits by bank transfer are free of charge, but Xfers deposits are subject to a 0.55% fee. SGD bank transfer withdrawals incur an SGD 2 fee per transaction. Advantages The main reasons that people flock to Coinhako are that the exchange is easy to use for newbies, has an integrated wallet, and allows users to trade crypto for SGD at spot prices. Moreover, Coinhako Singapore users can fund their accounts with bank transfers, debit/credit cards, GrabPay, and Xfers Direct Charge. So, what makes Coinhako a good platform? Well, Coinhako's advantages include: Ease of useSupport for most coinsHigh securityMAS complianceCompetitive feesFast transactions Disadvantages Coinhako's only drawback would be its lack of advanced trading features. 2. Independent Reserve Established Date and Regulation This Sydney-based cryptocurrency exchange was founded in 2013 with a vision of becoming the leading fiat-to-crypto exchange in Asia and Oceania. It's regulated by the MAS, which means you're unlikely to encounter problems with authorities for safely trading on the platform. Users can buy more than 20 cryptos using fiat currencies, including SGD. Fees The fees on the Independent Reserve exchange vary depending on your 30-day trading volume but are generally in the range of 0.02% to 0.5% per transaction. If you want to fund your account at Independent Reserve, FAST transfer is probably the easiest and cheapest way if you’re in Singapore. Deposits and withdrawals of up to SGD 20,000 every 24 hours are processed instantly. Moreover, you won't incur any deposit fees if you deposit amounts above SGD 1,000. Even if you make a deposit of less than SGD 1,000, you'll pay a small SGD 2.50 processing fee. Advantages Low feesMAS complianceFast withdrawals and deposits Disadvantages The two biggest cons of Independent Reserve include a limited token offering and its non-user-friendly interface. Since there are only around 20 cryptos to choose from, you won’t be able to make your portfolio that diverse. 3. Gemini Established Date and Regulation Founded in 2014, Gemini is a US-based cryptocurrency exchange platform that’s incredibly popular in Singapore. As of late 2022, Gemini supports over 120 cryptocurrencies, including all of the popular ones like BTC, ETH, and BNB. Moreover, the trading interface is simple and clean, both for the website and the mobile app. Gemini offers a dollar-cost average (DCA) feature, which is specifically for those using the platform for long-term investing. It allows you to invest small amounts at regular intervals. Of course, active traders who want advanced order types are not left out either. Fees Gemini has a separate in-built platform (ActiveTrader) with low commissions of 0.4% compared to 1.49% on the Gemini app. Regarding Singaporian residents, Gemini supports SGD transfers via FAST transfer. It allows you to deposit up to SGD 20,000 per transaction from your local bank account to your Gemini wallet. Advantages Offers numerous tokensGood for beginnersUser-friendly interfaceLow commissions Disadvantages Gemini's only real disadvantage is the slightly higher fees than other exchanges. Conclusion A quick search on CoinMarketCap reveals that there are over 500 cryptocurrency exchanges, which can make selecting one difficult. However, choosing a reputable exchange with the necessary features to support your trading or investing objectives is critical. Some features you should look for include MAS compliance, easy payment, low fees, support, and ease of use. Thus, our top three crypto exchange platforms in Singapore are Coinhako, Independent Reserve, and Gemini. Still, please do your own research to ensure you select one that's best suited for you. » Looking to invest in Hong Kong? Discover the best crypto exchange platforms in Hong Kong
ShapeShift: Convenient DEX Aggregation Platform
DexsShapeShift: Convenient DEX Aggregation PlatformEstablished in 2014, ShapeShift is a cryptocurrency exchange that has been growing in popularity over the last couple of years. The platform allows users to buy, sell, and trade a variety of cryptocurrencies like BTC, ETH, and BNB, in addition to stablecoins like USDT and USDC. However, ShapeShift has evolved to become much more than just an exchange since its inception. Now, it's a full-scale DeFi platform that also acts as a decentralized exchange (DEX) aggregator and a portfolio management tool. ShapeShift has successfully partnered with many protocols, allowing it to put together the features of many DEXs and offer their trading pairs. Now, let's dive deeper into what features the platform offers and why it has become so popular. What Features Does ShapeShift Offer? Some of ShapeShift's key features are as follows: Liquidity Providing and Staking These two features are core pillars of DeFi, and thanks to them, anyone can earn a solid passive income as long as they have some crypto. ShapeShift allows users to earn revenue through its liquidity provider program. Investors can stake their assets on the platform in exchange for a share of the trading fees. As you can already guess, users who provide liquidity earn rewards in the form of FOX, the platform's native token. Multi-DEX Support One of the things that makes ShapeShift unique is that it supports multiple DEXs simultaneously. This means that users can trade on many different exchanges through the platform without having to create accounts on each one. This isn't just a convenient solution—it can also be a great earning opportunity. For example, if the price of an asset is different on two platforms, you can use ShapeShift to perform arbitrage and earn money on the price difference. Instant Swap ShapeShift also offers an instant swap feature, which allows users to trade one cryptocurrency for another without having to wait for an order to be filled. Namely, ShapeShift has partnered with 0x and THORChain, implementing a cross-chain swapping protocol between cryptos. If you want to buy ETH with BTC without a cross-chain solution, for example, you'd have to sell your ETH for USD and then fill an order for your new BTC purchase. However, with ShapeShift, you can directly swap your ETH for BTC, thanks to the cross-chain protocol. How Does ShapeShift Work? Although ShapeShift started as a centralized exchange, it became a decentralized protocol run by a decentralized autonomous organization (DAO). This means that the holders of the protocol's native token (FOX) get to vote on how the project is run and how its future will unfold. Every token is worth exactly one vote, so the more tokens you have, the more impactful you can be on the protocol. In terms of the actual platform, ShapeShift is pretty straightforward to use. After connecting your wallet, you can start buying, selling, and trading cryptocurrencies immediately. You'll also have instant access to all the DeFi features, like lending, borrowing, and staking. In addition to being available through a website, the platform also has a mobile app for both Android and iOS devices. The FOX Token The FOX token is built on the Ethereum blockchain, meaning it's an ERC-20 token. We briefly mentioned that the token is primarily used for governance on the protocol, but it also has a utility use case. Namely, the FOX token can be used to perform DeFi operations like trading, staking, and yield farming on the platform. Currently, as of September 2022, the FOX token trades at $0.06, with an all-time high of $1.67 reached in April 2021. So, if the token somehow manages to reach its all-time high, there's a potential to earn a 2,600% profit with just one position. Final Thoughts All in all, ShapeShift ended up being quite a promising project, despite changing from a centralized exchange (CEX) to a DeFi platform. As a platform, ShapeShift simply offers too many features to be ignored—it's a DEX where you can buy and sell crypto, as well as a platform for DeFi operations like staking, lending, and borrowing. However, it's worth mentioning that ShapeShift had a small incident in the past. Namely, the platform had a massive security breach in its first couple of years, causing users to lose around $200,000 due to the attack. Nevertheless, the platform has come a long way since then, and in the last six years, they've operating impeccably.
Orca: A Solana-Based AMM DEX for the People
DexsOrca: A Solana-Based AMM DEX for the PeopleDecentralized exchanges (DEXs) have flooded the market in the last few years. Unlike centralized exchanges (CEXs), which have a central authority leading them (usually in the form of a company), decentralized exchanges are fully autonomous protocols built on top of the blockchain. This means that no central body has any view over your activity, guaranteeing complete privacy for all its users. What Is Orca? One of the most user-friendly decentralized exchanges is Orca, a protocol built on Solana's blockchain. Although the protocol is not as popular as other DEXs, Orca can still be regarded as a great project. Orca's primary focus is to provide a permissionless experience to all its users when buying and selling crypto. To do this, they have built a unique Automated Market Maker (AMM) system that does not require any order books or liquidity pools. As a result, all positions opened on Orca are entirely decentralized. Now with the basics out of the way, let's dive deeper into how Orca works as a protocol. How Does Orca Work? Orca works as a decentralized protocol that is built on top of the Solana blockchain. The mainnet for Orca was launched in March 2020. We briefly mentioned that Orca uses an Automated Market Maker (AMM), but how exactly does that work? Users who want to buy or sell crypto on Orca will have to deposit their crypto into the Orca smart contract. After the user has deposited their crypto, they will be able to trade on the Orca platform. When a trade is initiated, the Orca protocol automatically matches the trade with another user who wants to buy or sell the same asset. This means that as long as there's a market for the cryptocurrency in question, your order is almost guaranteed to execute. It's also worth mentioning that the team behind Orca has built a native token for their protocol, which goes under the label ORCA. The main use case for the ORCA token is to provide liquidity to the platform. When a user provides liquidity to the Orca platform, they will receive staking rewards. The rewards coming in the form of the ORCA token can then be used to trade on the Orca platform, or they can be sold on other exchanges. How Does Orca Compete With Other DEXs? Of course, Orca isn't the only DEX to use such a system. Its protocol for buying and selling crypto is very similar to how other AMM DEXs work, such as Uniswap. The main difference between Orca and other AMM DEXs is that Orca uses the Solana blockchain instead of Ethereum. Consequently, trades on Orca are much faster and cheaper than they would be on other protocols since Solana's fees are significantly lower than Ethereum's. What Benefits Does Orca Offer? Focus on User Experience The team behind Orca has made it their mission to provide a seamless and permissionless experience for all their users. This means anyone can use the Orca protocol without going through a KYC process. Focus on Security The Orca protocol is built on top of the Solana blockchain, which is known for prioritizing scalability and security. In addition, the Orca team has also built a number of security features into their protocol, such as 2-factor authentication and multisig wallets. Focus on Flexibility The Orca protocol is designed to be easily integrated into other platforms and protocols. This allows developers to easily build on the Orca protocol and create new applications and services. Should I Invest in the Orca Protocol? If you want to invest in a decentralized exchange primarily focused on user experience and security, then Orca is an excellent option for you. There is a vast use case for the ORCA token, as anyone can use it to transact. Moreover, stakers can provide liquidity to the protocol and receive their rewards in ORCA tokens, so the future for it seems bright. Still, it is essential to note that Orca is a relatively new project and is not yet available on any major exchanges. It may be difficult to buy ORCA tokens if you are not already familiar with the cryptocurrency space. Promising Project for the People Overall, Orca seems to be a promising project. It's a fully decentralized protocol built on the Solana blockchain, meaning that all of the transactions executed on the platform will have minimal fees and lightning-fast execution. However, the Orca platform has some drawbacks too. It's a relatively new project, and although Solana is known for being fast and efficient with transactions, it's also known to have occasional network outages. Make sure to do your own research to see whether or not Orca is the right investment for you.
Pangolin: Avalanche's Innovative Cross-Chain DEX
DexsPangolin: Avalanche's Innovative Cross-Chain DEXAs of late 2022, decentralized finance (DeFi) is growing at a rapid pace. More DeFi applications are being released, each one offering new and unique features. Blockchain users are attracted to this, so it's apparent why DeFi is growing accordingly. However, there's one inherent problem. The majority of DeFi apps are built on top of Ethereum, which has a notorious gas fee problem. Many teams of developers have been discouraged to build an app on Ethereum simply because the gas fees of the ecosystem would make their project unsustainable. So, developers have started to build their apps on other blockchains—which is where networks like Avalanche came onto the scene. What Is Avalanche? Originally launched in September 2020, Avalanche promised to offer the same features as Ethereum—smart contracts, decentralized apps (Dapp), and automated protocols—only operating on the network would be faster, cheaper, and ultimately more scalable than on Ethereum. Also keep in mind that, unlike Ethereum, Avalanche is a cross-chain protocol. This means it's designed to interact directly with other blockchains and exchange data with them. For example, you could use Avalanche to launch an ERC20 token on the Ethereum network. Then, you could use the Avalanche network to trade that same token with other ERC20 tokens or even Bitcoin. However, with the current way DeFi is built, you would have a difficult time trading your token for another. You would have to use "bridges" to make the transaction possible. However, bridges have occasional security flows and are known to delay transactions, which is why a cross-chain blockchain will do the job with ease. Pangolin: An Avalanche-Based DEX with a Cross-Chain Vision One of the most popular DeFi applications built on the Avalanche blockchain is Pangolin. Pangolin is a decentralized exchange (DEX) that enables users to trade cryptocurrency assets in a secure manner without having any third party oversee them. In other words, you don't have to worry about entrusting your funds to any single entity or centralized exchange like Binance or Coinbase. Pangolin's Features Perhaps the most attractive feature about Pangolin is that it's a cross-chain DEX. This means that you can trade assets from different blockchains on the same platform. For example, you could trade a token on Ethereum's network (ERC20) for Bitcoin all within the same DEX. Moreover, Pangolin is also one of the most user-friendly DEXs on the market. Once you visit its website, you'll notice that it has a clean and intuitive interface that even beginners will have an easy time navigating. All you need to do is connect your wallet to the platform, which can be done via platforms such as MetaMask, Ledger, and Trezor. Drawbacks of the Pangolin DEX So far, we've only talked about the advantages of using Pangolin. However, no DEX is perfect and there are a few drawbacks worth mentioning. Firstly, Pangolin is still a young project that's in its early stages of development as it was only launched in February 2021. This means that there's still a lot of room for improvement and that some features are still missing. For example, the platform doesn't currently support stop-loss orders or limit orders. This means that you can only trade assets at the current market price, which isn't ideal for everyone. Another thing worth mentioning is that Pangolin is primarily focused on trading Bitcoin and Ethereum assets. This might change in the future, but for now, you might have a hard time finding some lesser-known altcoins that you're looking for. Finally, Pangolin currently doesn't have that much trading volume. This is to be expected given that the platform is still relatively new. However, it's something worth considering if you're looking for a DEX with high liquidity. Should I Invest In Pangolin? Pangolin has its native token going under the symbol PNG, with a current market cap of around $8 million and a price per token of $0.06. The token is primarily used in the blockchain's governance model, allowing the community to shape the way the protocol is developing. We believe that Pangolin is a solid investment, as the token is 100% community-focused, with no institutional investors having a part of the circulating supply. Still, keep in mind that Pangolin is a relatively new project, and it might need some time to prove its authenticity to the public. Thankfully, the project hasn't had any security issues thus far, and it has successfully delivered in all departments. Nevertheless, only time will tell what the future holds for Pangolin as a project.
How to Create a Cryptocurrency Exchange
DexsHow to Create a Cryptocurrency ExchangeA cryptocurrency exchange is a marketplace for buying and selling cryptocurrencies. Cryptocurrencies are transactional and value-based digital assets such as Bitcoin, Ethereum, and Cardano powered by blockchain technology. On crypto exchanges, users can sell their digital assets for their desired cryptocurrency, assets, or fiat currency, and vice versa. They also provide user accounts and a place for accessing and managing assets already owned. It is impossible to imagine what would become of the cryptocurrency market without exchanges. Trading, investment, and launching of crypto tokens essential for the continuity and growth of the cryptocurrency market take place on exchanges, and so these essential features of DeFi would not exist. Create a Crypto Exchange in 5 Steps 1. Create a Prototype After deciding on the technology stack, you need to develop a basic description of the exchange. Prototyping should involve UI/UX designers and business analysts. These talents are needed to fully conceptualize the project and bring it to its final state. 2. UI/UX Development Following the development of the prototype, a designer needs to work with Figma, and the wireframe to come up with the best designs for the admin side and front end of the project. 3. Code the App/Website The prototype and technical description of the product is sent to the developers, who then transform the simple visual presentation into live websites and apps accessible from the admin and user side. They use technology stacks such as angular, HTML5, CSS, and Nodejs to define the platform setup. For dApp, this includes building the frontend and writing the smart contract for the backend, which will be live on the blockchain. 4. Testing Centralized and decentralized exchanges must be tested to spot bugs before the projects go live. For centralized exchange, QA engineers review the codes for possible errors and notify the development team if they find any. dApps can use QA engineers plus additional testing on a testnet by the community waiting to use the project. Some dApps promise to incentivize testers with platform tokens. 5. Project Launch Launching makes the project live and accessible to users of the platform. For dApps, the smart contract cannot be changed once it is live on the blockchain. Therefore, extra caution should be taken to ensure a seamless launch and a positive experience for the users of the platform. 6 Features of Successful Crypto Exchanges 1. A Responsive Design With the number of smartphone users worldwide set to hit 7.2 billion in 2022, using an exchange available across devices has lots of advantages. First, you can make physical transactions using your device straight from your exchange wallet, and you can also make emergency withdrawals on the go. 2. User Interface The user interface of the exchange is how users feel when they visit the exchange. If the user interface is responsive and great, customer retention and long-term potential to stay successful in a highly dynamic space will be high. The user interface design of the exchange must be friendly, clean, and seamless to navigate. If users find it hard to explore the exchange, build a user base and community. 3. Products The exchange products include crypto lending, borrowing, perpetual swaps, and futures. The more diverse the products offered by an exchange, the wider the range of investors it will attract. Cryptocurrency investors are always on the lookout for opportunities, and one of the reasons people try out new exchanges or platforms is to try their products. Some exchanges also offer self-help tools for traders like customizable bots, trading charts, and copy-trading. 4. Legal Compliance and Availability The law in some countries does not officially recognize cryptocurrency businesses. However, this is changing fast as there are now lots of cryptocurrency companies registered with governmental institutions. Since the financial authorities aim to protect the public and consumers, most exchanges are trying to comply with the laws and receive approval to operate. 5. Support What happens when you have a problem using an exchange? The frustration caused by little lags and missing tokens can decrease user trust and make them lose interest. Great exchanges respond on time. They always show concern by responding to complaints. 6. Security After setting up the platform trading engine, user interface, admin panel, wallet, order book, push notifications, and transaction history for exchange users, the next and most important feature is security. The security of user funds can make or break the platform. Exchanges like Binance, Bithumb, Bitfinex, and Mt.Gox have lost hundreds of millions of dollars to hackers. To avoid this, consider adding features to protect the exchange against distributed denial of service, DDoS attacks, denial of service or DoS attacks, server-side forgery, two-factor HTTPS authentication, HTTP parameters pollution, biometric authentication, cross-site request forgery, SQL injection, and data encryption. Technology Stacks for Your Crypto Exchange Developing a cryptocurrency exchange from scratch has many advantages compared to pre-made white label exchanges. After creating a working model for how the exchange should work, the next step is programming the exchange. The technology stack for creating a centralized exchange varies with the team and its willingness to learn. While PHP is considered a secure language, for example, Python applications have a better history regarding the security of the exchange. Even though Python is slower, it is easier to write, and it simplifies the job of data analysis. Traditional financial firms have also built several applications using C# and C++ because these languages have low cause and effect delay, making them particularly efficient for high-frequency trading. Java and C# are also statically typed, which means developers can avoid bugs, and refactoring is easy. You can change codes in a statically typed language without changing the code's behavior. The most common routes developers take across exchanges are Java, HTML5, Angularjs, and Nodejs. The tech stack for decentralized exchanges is not far-fetched. You need to write the frontend of the application using Javascript, HTML5, and CSS, while the backend of the exchange should contain the logic of the smart contract written in solidity, which you can then deploy on the blockchain.