242
views

5 Cryptocurrency Exchanges to Trade Crypto in 2021

Trading cryptocurrency can be profitable and fun if done correctly. Today, traders have more options, exchanges, and features than in the past. All of these choices can leave new investors a bit confused about where to start their crypto adventure. 

If you are familiar with crypto trading, you probably have used some of the more extensive exchanges in the market, such as Binance and Coinbase. While these exchanges are valuable because they provide a reputable and reliable trading experience, they are also a bit more expensive and restrictive than newer exchanges that can operate more freely in the market. Here are five exchanges to try out in 2021.

Uniswap

Uniswap is one of the hottest exchanges in the market. Unlike Coinbase, Uniswap is a DEX (decentralized exchange). As such, it doesn’t hold any of your cryptocurrency directly. Instead, the platform utilizes smart contracts to conduct trades in a non-custodial manner. The main advantage of this approach is that your crypto is safer from hackers.

Currently, Uniswap is the top DEX in terms of market cap. Users can effortlessly swap any two Ethereum assets against an underlying liquidity pool. Uniswap’s rise to fame is partly due to its open token features. Specifically, anyone can create or seed a market by supplying the pool with an equal value of the two ERC-20 tokens being paired. Liquidity providers earn a pro-rata portion of the 0.3% trading fees each time the trading pair is used.

Uniswap introduces a simple one-click interface that makes trading simplistic. However, some have complained that this interface is too basic as it lacks features like limit orders. Despite these concerns, Uniswap is still the premier DEX in the market. Recently, the platform added support for Yield Farming liquidity pools under the Uniswap Money Market feature.

Gemini

Cameron and Tyler Winklevoss founded the Gemini exchange. Keenly, they are best known as the Winklevoss twins. These two Bitcoinists have long supported cryptocurrency adoption through various measures. Their exchange is well-known as one of the most secure options in the market.

Gemini is a regulated exchange that offers fiat-to-crypto trading pairs. As such, it serves a critical role in the US market. Gemini also has an excellent security record. The platform keeps all BTC and ETH in cold storage. Additionally, all fiat deposits are stored in FDIC accounts with reputable banks. 

Users have a variety of coins and ways to fund their accounts. Gemini supports debit and credit card purchases. For example, you can use a bank transfer for large deposits. Large crypto purchasers enjoy added discounts for using the network. In this way, Gemini is a wise choice for whale investors seeking some additional profits.

IDEX

IDEX is one of the oldest DEXs in this market. Interestingly, this non-custodial exchange started as part of the Aurora project. Aurora collects powerful Ethereum applications and protocols that make up a decentralized banking and finance ecosystem. Specifically, this project includes the IDEX exchange, the Boreal stable currency, the Snowglobe decentralized exchange protocol, and Decentralized Capital.

IDEX offers real-time trading at competitive rates. The platform boasts a high transaction throughput and decent liquidity for a DEX. Unlike the competition, IDEX offers more trading functionalities. In this way, the platform can be seen as a hybrid exchange that leverages the best aspects from centralized and DEXs to provide a unique UX.

IDEX is built atop the Ethereum ecosystem. The exchange supports all ERC-20 tokens. Notably, there are over 200,000 of these tokens in use today, and the number keeps growing. Consequently, IDEX provides an alternative to Uniswap. Users who seek more trading functionality often venture from Uniswap over to this platform. 

dYdX

Dydx is another hybrid exchange that combines DeFi (decentralized finance) with DEX technology. This exchange allows you to earn rewards staking assets. Interestingly, all the capital supplied by users to dYdX collects interest. You can earn a passive income as your supported assets stay idle on the exchange.

Dydx users also gain the ability to long or short Ethereum. Shorting cryptocurrency is an advanced strategy that professionals often seek out. When you short crypto, you bet against its value. Specifically, you take out a short term loan of the asset and then sell it. When the token price drops, you rebuy it and repay the loan, keeping the interest as your ROI.

DYdX users enjoy permissionless margin lending and leveraged trading up to 5x using this network. For these reasons, dydx provides a valuable service to professional traders looking to short Ethereum. The platform also supports seamless conversions between supported stakable assets such as Dai, USDC, and ETH.

NAGA Trader

The NAGA Trader exchange represents a shift from traditional trading platforms over to blockchain assets. NAGA gained notoriety in the market as a stock trading platform. Recently, the exchange included cryptocurrency trading into its features. 

NAGA simplifies trading through its toolset. As a primarily stock-based platform, the network includes a plethora of valuable tracking tools. Users can track all of their digital assets from the network’s interface. From here, you can trade various crypto trading pairs. Additionally, this network has a strong user base that adds to the liquidity enjoyed by traders. The added liquidity makes this exchange ideal for large value traders. 

You can sell and buy your digital assets in seconds using NAGA trader. Best of all, the platform utilizes advanced AI algorithms to improve your ROI. The CYBO robot makes it easy for anyone to implement a trading strategy in an automated environment. Lastly, NAGA supports copy-trading strategies, as well.

 5 Cryptocurrency Exchanges to Try Out in 2021

Bitcoin live price
Btc
Bitcoin
$28.895
price
0.46819%
price change
BUY NOW

There’s no need to be timid in 2021. The crypto market is over a decade old, and there are endless opportunities to earn in the market. No one can argue the value of major exchanges like Coinbase. However, once you are a bit more comfortable in the market, it pays to venture out of the nest and try new platforms. These five exchanges are sure to provide you with a streamlined trading experience to further your crypto investment strategy.

Stay up to date with our latest articles

More posts

Top Crypto Marketing Agencies to Promote Your Cryptocurrency Project in 2022

Nowadays, launching a crypto project can be a daunting task for most developers, especially considering the competition. This report claims that the industry amasses over 18,000 cryptocurrencies as of March 2022. Whether you focus on NFTs, DeFi, or any other crypto-related activity, you will have to face stiff competition. Fortunately, you can gain a competitive advantage over your peers with the help of crypto marketing agencies. These services cover all the promotional aspects your project needs to get into the…

Unstoppable Domains – A Beginner’s Guide

Unstoppable Domains are an intriguing and unique new option that is gaining traction in the crypto industry as more people become aware of them. Even though you may be inclined to dismiss them as simply another "crypto craze,” you may not want to be so hasty in your judgment. Whether you have your wallet or just learning about crypto, unstoppable domains have some unique advantages that you might consider utilizing for your website. This post will go over all you…

Understanding How Ripple’s Interledger Protocol Works

Payment networks are now fragmented and disjointed. Transferring money within a nation or between accounts on the same system or ledger is quite simple. The same goes for transferring money between accounts on a different network or ledger. In most cases, however, transmitting data from one ledger to another is unfeasible. Even in places where connections are available, they are often manual, sluggish, or costly. Ripple’s Interledger Protocol allows the routing of payments across multiple digital asset ledgers. Meanwhile, it protects both…

Rebalancing the Portfolio or Buy & Hold? A Comparison Between Crypto Investments Strategies

Blockchain and cryptocurrencies have attracted an outstanding amount of interest and money over the years. However, the popularity of an asset does not automatically indicate that investing in it is easy. If you don't know how to distinguish between reputable cryptocurrency suggestions and scammers, you'll have a hard time making a profit. New traders often have many questions and have no idea where to begin when they first enter the market. Different investors tend to prefer different investment strategies for…

1Password Now Lets You Easily Store Crypto Wallet Details

1Password is taking its storage security to another level with a new crypto-centered feature. The latest update allows users to store details concerning their cryptocurrency wallets. Simply put, you can store a small piece of information on 1Password that could help you remember your private key. However, you cannot store the entire key giving access to your digital assets. As a friendly reminder, you should always store your private key offline and never share it with anyone. 1Password Rolls out…

Top NFT Portfolio Trackers to Use in 2022

Non-fungible tokens (NFTs) are the latest craze in and around the crypto industry. These digital assets provide a never-before-seen ownership value that empowers creators, brands, and artists everywhere. Moreover, they have spurred a new class of investors, the NFT collectors. Their community is expanding rapidly and developing into a multi-billion market. Similar to a domino effect, the rise of NFT collectors has increased the popularity of portfolio trackers. These tools track the performance of assets within a portfolio and provide…

How Social Leaders on Shrimpy help Investors Maximize Profits from Crypto Trading

The emerging trend of social trading allows millions of investors to interact with their peers and learn from accomplished traders in the crypto market. Every market participant wants to become a profitable crypto trader and maximize earnings from the ongoing crypto boom. Unfortunately, navigating the highly volatile space while grasping the complex learning curve that involves fundamental/technical analysis can be rather daunting. Becoming successful in the crypto market requires time to develop a working strategy that empowers investors to execute…

What Are the Best Crypto Prediction Sites?

There are now several websites that provide, besides crypto live prices, some forecasts on the future of the leading cryptocurrencies. However, considering the market’s high volatility and the few analysis tools available to the public for formulating these forecasts, it must monitor these portals carefully. This article will report some of the primary sources of price forecasts in the crypto industry. However, we remind you that the information contained in the text does not constitute financial advice, and we invite…

How to Track and Stay Updated with Cryptocurrency News

Cryptocurrency is a young market and, as such, very fast-moving. If we exclude the phenomenon of stablecoins, the prices of cryptocurrencies change continuously, with sometimes very high volatility. Since a volatile investment is, by definition, a risky operation, traders usually look for ways to reduce the possibility of incurring significant money losses. In this context, it is vital to stay up to date with market events, even if this can be complex. As seen in the past, a single tweet…

What You Need to Look For in a Crypto Broker

Traders are very fond of investing in cryptocurrencies, as the market has shown in recent years. However, often those who approach this world do not have a high level of investment experience, and, for this reason, it is necessary to pay attention to the choice of the trading method. There are several ways to trade cryptocurrencies, from specialized exchanges to financial brokers. Today's article will discuss the latter category, highlighting the main factors that one needs to observe to choose…