Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $1,09 trillion. Bitcoin is up by over 2% to reach around $27,200. Ethereum increased by nearly 6% to close to $1,700. XRP gained almost 2% in value during a highly volatile week. Almost all altcoins are trading in the green, with virtually no exceptions. The DeFi sector maintains the total value of protocols (TVL)…
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 must 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, the network has expanded its options and security features over the last nine years.
Bitfinex is a global platform that serves over 100 countries and is also well known as the first exchange to offer USDT (Tether) as a stablecoin option. Combining new features, security, and ingenuity has helped Bitfinex remains 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 feeless 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 for around $5 a month to gain access to more features. For example, you can trade on margin and access more market data when you sign up for this account. Robinhood is unique because 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. Introducing 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. In addition, 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. This way, Gemini can provide users with a trading experience 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. In addition, Gemini has never been hacked, and 98% of users’ funds remain tucked safely in cold storage accounts.
Read the full review of the Gemini exchange 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 accounts with any of the 27+ fiat currencies this exchange supports. The website is also available in various 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.
Many investors consider Bitstamp the world’s longest-standing crypto exchange. The network features a responsive interface 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).
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. Adding 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 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 actively seek regulatory approval from FinCEN.
Poloniex users enjoy a simple 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. In addition, Poloniex offers a competitive fee structure and unlimited deposits to users.
Read the full review of the Poloniex exchange here.
BYDFi, formerly known as Bityard, is a regulated and centralized custodial exchange option that continues to gain momentum in the market. However, 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.
BYDFi is considered one of the world’s leading cryptocurrency contract exchanges. The network is regarded as a straightforward, user-friendly option. The interface makes trading cryptocurrency asset contracts easy, fast, and safe. Notably, crypto derivatives have long been a market discussion topic. Their introduction was hailed as a major step forward for the entire sector. As such, BYDFi stands as a pioneer in the market.
Read the full review of the BYDFi 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.
Coinone consistently ranks among the top three cryptocurrency exchanges in Korea based on market capitalization. Furthermore, the to its top-notch security protocols and advanced features, the network continues to see more adoptions. For example, Coinone users can utilize Multi-sig wallets to protect their holdings from unauthorized withdrawals.
Read the full review of the Coinone exchange here.
Top Centralized Crypto Exchanges in 2023
Now that you have 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 not bet easy to find exchanges better suited for the job than those listed here.