When big exchanges with lots of volume shuts the door on new users, what’s the best alternative available for them?
With the increasing demand of users jumping into crypto-currencies, exchanges are facing tough time catering their needs. To mitigate risks financially and handle challenges on infrastructure and support mechanisms, Bittrex & Binance has temporarily closed on new customer/users. What’s a better alternative for Binance or Bittrex in this situation for new users?
As discussed earlier in Exchange Specific Tokens article, there are a couple of good exchanges out there, which doesn’t look scammy and has good volume and liquidity.
This is an observation & knowledge gathered from few other educational sources and not an investment advice.
Growth of Binance
Very young cryptocurrency trading platform called Binance, which started just few months ago has now claimed it’s top slot as the world’s largest crypto exchange by 24hr volume. It’s all because of astounding marketing, new kind of business model and aggressive coin listings. Binance now features a lot of coins which has greater potential in terms of project capability and not listed anywhere on Bittrex, Poloniex. This gives Binance a great advantage.
As we all know Binance charges 0.1% transaction fees and if you pay with their own coin BNB, it reduces the fees by half!
Healthy Alternative = KuCoin
With almost exact dynamics of Binance, there came another exchange called KuCoin — which is famous in East Asian countries and slowly targeting user base across the world with incentives and contests similar to Binance.
Kucoin Steps up the game
Along with very cool interface and very usable experience, Kucoin also has their own token, KCS — Kucoin Shares. Kucoin charges a 0.1% fee from every trade, both from the maker and taker, which comes up to 0.2% fee’s per trade(someone sells and someone buys). Big bang offer from KuCoin is that they pay 50% of this fee (0.1% per trade) to KCS holders!
So, in this situation where new registrations are closed on Bittrex and Binance, Kucoin could be a better alternative.
Additional advantages of KuCoin & How to avail them are listed in this article here
Apart from KuCoin — Other Alternatives for trading crypto currencies are
- Poloniex
- Cryptopia
- HitBtc
The content of this blog is not intended as investment advice. it’s just a how to tutorial. You should always do your own research (DYOR), make your own decisions (MYOD) and be comfortable with the risks before making an investment. Investing in volatile cryptocurrencies involves an element of risk: prices of these currencies go up and down, (often in a manner that seems irrational).