Top 3 Crypto Exchanges - Pros and Cons
I will list my top 3 crypto exchanges that I have personally tested and used and I will share with you my pros and cons of each crypto exchange. The top is made by my personal preferences and not regarding the public trending but personal experience and testing of over 30 days on each and 1000$ invested in each one.
1. Binance
Binance is one of the most popular exchanges on the market so of course, I ended up using it and checking it out. They provide a web and mobile version of the platform that are synced together and makes the use of it a lot easier and I am mainly a mobile user so that is an extra point for them. Binance was the first exchange I registered on and I received USDT payments through it, made FIAT deposits (when it used to work, they lost a point here when the option got canceled), and P2P exchanges selling USDT for Euro through Revolut. The interface is a bit hard to understand at the beginning and it would need some UX improvement in my opinion. It took me a while to understand how to withdraw and trade the crypto I had in my wallet but they have a lot of tutorials and articles helping out and explaining it.
Pros:
A lot of staking options
All important and alt coins listed
Most popular so there is always P2P and liquidity options
Tutorials and Articles
Cons:
Interface hard to understand at the beginning
Hiccups in account verification
Not available in the US
Non-transparent corporate structure
2. Crypto.com
Crypto.com turned out to be one of my actual favorites right now. They offer for the first 30 days when you register a new account, a 0% deposit commission so that was great. I focused on that month investing through it to benefit from the offer so I actually worked with each exchange exclusively for at least 1 month and invested over 1000$ in each (you never know the truth until you actually get involved). I focused on their native coin, CRO, and benefited from the staking offers they have.
Pros:
Crypto debit cards
Cashback and discounts using the card
Lots of earning offers with good rates
Crypto Loan offers
Aggresive Marketing
Cons:
NOT a Credit Card
Abrupt Changes to Terms
Complicated Referral Program
Trade Spread
3. KuCoin
KuCoin is a new player on the market and I find it very interesting especially their native coin. The native coin features were one thing that attracted me and the second one was the low fees that they have. I discovered this exchange when Elrond (with their native coin, eGold, being one of my favorite investments) partnered with them, not too long ago. I like their app and interface and they partner with a lot of newly listed coins and feature lots of possibilities of airdrops, bonuses, earnings, staking, and much more so it is an interesting exchange to look into. Another great feature of it is by owning at least 6 KuCoin coins will give you the advantage of earning dividends, the coin representing the business itself, they are like shares on the stock market.
Pros:
Easy interface
Low fees
Large range of crypto top coins including the new ones
Good account and wallet security
Cons:
High traffic periods create some difficulty
Other times trading volume is low
Sometimes issues with liqiudity of smaller coins
Conclusion
In the end, each one haves it's own benefits and cons. For example, I also use native coin wallets like I mentioned before, Maiar for eGold because it provides me a higher benefit from their staking program and works with my investment strategy. My self, I used Binance to receive different payments in crypto and made some purchases but transferred the coins to other platforms. I use Crypto.com to stake the CRO coin and benefit from their Debit Card offers and finally I use KuCoin to stake their native coin and participate in their different events and airdrops. It all depends on what works for you and your investment strategy. I recommend a diversified investment portfolio for security reasons, if something happens at least you don't have all your eggs in the same place.
If you are new to this financial and crypto world, I recommend that you should first read my other article, 3 Types of Crypto Investments to get familiar with the different types of investment and strategies that you can try out and see what works for you.
*Disclaimer*
The hyperlinks used are referral links and I could earn a small income by registering through the links. This supports me to continue sharing content with you.
