Binance News: Centralized crypto exchanges were the platforms that were first developed and most popular even since the launch of decentralized crypto exchanges like Uniswap. While these two types of exchanges dominate the market, hybrid exchanges, a combination of CEX and DEX, are now more attractive for investment.

 

 

In this article, we will talk about the pros and cons of popular crypto exchanges.

Binance

Binance is the world’s most popular and largest exchange by volume. Founded in 2017 and currently available in over 182 countries, Binance offers users a unique trading experience.

Transaction fees on Binance are reduced by 25% with the use of BNB coins. Binance has expanded the number of Altcoin units and currently has 374 tokens, 1,325 cryptocurrencies. Binance’s average daily volume is around $16.5 billion.

pros

  • More liquidity adjustments than any other exchange.
  • Lower fees.
  • There is a strong market and asset diversity.

Cons

  • Binance is limited in the US as 17 states are not supported.
  • Binance is a technical exchange that is better understood by advanced traders.

Coinbase

Coinbase is the most popular and adopted exchange in the US and is currently available in 42 states in the US. It is also a successful exchange founded in 2012 and listed on the NASDAQ. It is known that the Coinbase exchange is visited more than 5 million times a week.

pros

  • Coinbase is a very secure and regulated exchange.
  • It offers very high liquidity opportunity.

Cons

  • It is limited for fiat currency as it only supports USD, EUR and GBP.
  • If you do not use Coinbase Pro, high deductions may apply.

Huobi Global

Established in 2013, Houbi Global is a leading centralized exchange topped with high liquidity, world-class security and advanced markets.

The exchange is proud that it has not had any security breaches since its inception and has a $20,000 BTC security reserve fund. Average trading volume is over $3.3 billion. Houbi has 330 coins and 928 cryptocurrencies.

pros

  • It supports multiple fiat currencies.
  • Perfect for altcoins as it supports more markets and cryptocurrencies.

Cons

  • It is not suitable for beginners due to its complex interface.
  • The number of altcoins is less than the Binance exchange.

Bitfinex

Founded in 2012, the Hong Kong-based cryptocurrency exchange offers users advanced charts and tools and is among the top exchanges on every list.

Billed as the home of digital trading, Bitfinex offers margin trading that gives traders 10x leverage. Bitfinex has a 24-hour volume of over $2 billion with very high liquidity. It has more than 951,000 weekly visits with 280 cryptocurrencies and 139 tokens.

pros

  • Advanced features and tools for traders meeting even the highest demands.
  • An improved incentive liquidity provider program that increases its liquidity.

Cons

  • There are fewer cryptocurrencies compared to other exchanges.
  • It does not have reliability due to the weak security of the stock market.

Uniswap

Uniswap is the most popular decentralized exchange. It is a decentralized finance protocol aimed at achieving fully automated trading.

Since Uniswap is not a centralized entity that trades on behalf of users, transactions within the exchange are open to everyone. Uniswap has a daily trading volume of $886.545,684.

pros

  • It has a simple interface which makes it easy for new traders.
  • Trading takes place directly, without a central entity.

Cons

  • Uniswap may not catch it, as someone could easily list a fake coin.
  • As a decentralized exchange, it sometimes faces liquidity challenges.

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