In the wake of the arrest of Sam Bankman-Fried, the future of the cryptocurrency industry looks murky. Indeed, the cryptocurrency sector has grappled with recovering from the market turbulence of the previous year.
Despite cryptocurrencies making a grand entrance into the financial landscape, the once-prominent figurehead’s downfall has come to epitomise the difficulties plaguing this industry – a realm that has frequently been criticised for its association with illicit activities.
Despite the negative attention it has garnered of late, cryptocurrency exchanges still serve valuable purposes, and a number of them continue to flourish on the global stage. Here’s our compilation of some of the top performers in 2023.
What Are Cryptocurrency Exchanges?
Cryptocurrency exchanges are online platforms that facilitate the buying, selling, and trading of various cryptocurrencies.
They act as intermediaries, allowing users to convert traditional currencies like pounds or euros into cryptocurrencies and vice versa, as well as trade one cryptocurrency for another.
These exchanges provide liquidity to the cryptocurrency market and play a crucial role in enabling people to participate in the world of digital currencies.
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What Are The Best Cryptocurrency Exchanges 2023
eToro is known for its user-friendly and intuitive interface, making it accessible to both beginners and experienced traders. Founded in 2007, eToro allows users to trade in more than 60 crypto tokens and offers an integrated wallet.
If you are a beginner getting into the crypto world, eToro allows traders to copy the trades of experienced investors and, if you’re an old hand, you can receive exclusive perks for sharing your own trading strategies.
eToro offers trading in more than 3,000 stocks, cryptocurrencies, commodities, currencies, indices, and exchange-traded funds (ETFs).
Coinbase provides access to a diverse selection of over 150 tradable cryptocurrencies, catering to the needs of investors seeking entry into the cryptocurrency market. What sets this platform apart is its user-friendly interface, simplifying both one-time and recurring cryptocurrency transactions.
For customers with a keen interest in comprehensive technical analysis and enhanced security, Coinbase’s Advanced Trade product is worth considering, offering additional features and safeguards.
Coinbase has consistently strong user reviews and robust security features, making it a popular choice for all kinds of traders.
Gemini is another platform that is well-suited for crypto traders of any skill level. The platform is packed to the brim with scores of features, like its Gemini Earn program for earning interest on crypto holdings.
Along with a simple, intuitive user interface, Gemini has low fees and well-rated security.
Founded in 2011, Kraken is one of the world’s longest-standing digital asset platforms. Globally, Kraken clients trade more than 200 digital assets and 6 different national currencies, including GBP, EUR, USD, CAD, CHF and AUD, having also launched a custodial NFT marketplace.
Already trusted by more than 10 million traders and institutions around the world, Kraken offers professional, around-the-clock online support to all its users. Plus, its markets can be monitored and traded via the web or through the Kraken iOS and Android apps.
With Crypto.com, purchase and trade over 100 cryptocurrencies using more than 20 fiat currencies. Earn potential annual yields of up to 8.5% on your cryptocurrencies, and up to 14% for stablecoins.
And, with the Crypto.com Visa Card, you can access, oversee, and utilise your funds at your convenience. Users can also benefit from the Crypto.com Pay feature to shop and receive up to 10% in CRO cashback.
Lastly, users can enjoy cost-effective transactions when buying with a credit/debit card or bank transfer.
Being a little newer on the scene, Cash App is currently only available in the US and the UK. The platform serves as a full-service banking option, but there’s a separate section from the user’s base account where they can buy and sell stocks. Users are also able to trade Bitcoin in this section.
Users can buy and sell Bitcoin at the click of a button in this easy-to-use app.
Bisq operates as a decentralised, open-source, and community-driven peer-to-peer trading network. Within this network, users have the flexibility to exchange Bitcoin for both fiat currencies and other cryptocurrencies. Rather than relying on a centralised headquarters or central authority, Bisq functions through a network of servers distributed globally.
Due to its global aspect, Bisq supports many currencies. Additionally, it’s easy to get started with no identity verification needed, and the platform has strong security measures in place to keep you safe when you trade.