5 Best Crypto Exchanges of March 2023

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Looking for the best cryptocurrency exchange? We review crypto exchanges to help you decide which one makes sense for your cryptocurrency needs.

The exchange for your trading must be reliable and offer many trading pairs and products. These are our recommendations for some reliable crypto exchanges in the market:

Binance

Operating since 2017, Binance is widely recognized as one of the best crypto exchanges that offers a platform for trading more than 600 cryptocurrencies. This online program has an API to integrate your current trading application. The app features may be overwhelming for new crypto traders, which is why a light version is available for those who prefer just simple features.

Coinbase

Coinbase is the largest U.S.-based exchange. It has a wide variety of options for users, from beginners to advanced traders. With a long story from 2012, Coinbase is an online platform that can be utilized for purchasing, selling, transferring, as well as storing digital currency. It securely stores a wide range of digital assets in offline storage. This platform supports more than 100 countries, with over 150 cryptocurrencies. Coinbase is one of the few crypto exchanges to allow users to withdraw crypto immediately after they purchase it using fiat currency, rather than waiting several days for the payment transaction to clear. As a negative point, it has complicated fee structures.

BitMart

Founded in 2017, BitMart is a global cryptocurrency exchange that is available in over 180 countries. It allows users to buy, sell, and store over 1000 digital currencies and tokens. Incorporated in the Cayman Islands, BitMart has established itself as a leading trading space for small and mid-cap cryptocurrencies. Security seems to be a concern for many after the company fell victim to a high-profile hack.

LYOTRADE

LYOTRADE is a crypto exchange offering more than 200 cryptocurrencies. Widely renowned for its centralized services and DEX Swap feature, LYOTRADE is part of the LYOPAY ecosystem, with registered service providers registered in Singapore and London for global coverage, which allows for extensive worldwide reach and heightened security measures. In addition to classic trading, ETF trading is available, and services such as USDT staking, crypto loans, as well as buying and selling using card or wire transfer. The weakness is that it’s still relatively new in the market and doesn’t have much history. 

LYOTRADE Twitter

Crypto.com

Crypto.com is one of the best cryptocurrency exchanges that enable you to buy over 250 cryptocurrencies with around 20 fiat currencies. Launched in 2016, the exchange allows you to access, manage, and spend your funds anytime. Crypto.com obtains the highest security and compliance standards, and has one of the best mobile crypto exchange smartphone apps. Users have expressed complaints about the inefficient customer service provided by Crypto.com.

What Are the Benefits of Keeping My Assets on an Exchange?

There are a few interesting reasons why you may choose to store assets on the exchange instead of transferring them to a wallet:

Staking

By inserting tokens in staking pools, you get rewarded with extra free tokens. There is usually a period of lock time. Top crypto exchanges such as KuCoin, Coinbase, LYOTRADE, and Binance offer this service.

Events

Some exchanges offer trading competitions with rewards, where the top volume traders for an asset have a chance to win crypto or even physical prizes such as cars or electronics. 

Convenience

While storing your assets on the exchange does come with the risk of exposing your assets, having them readily accessible to be traded for other cryptocurrencies or exchanged for fiat currencies is very convenient. 

Conclusion

We’d like to remind everyone that it is, of course, up to each individual user to decide whether they feel comfortable using any of the above-listed exchanges. We also stress the importance of doing your own research and understanding the risks before getting involved in cryptocurrency trading, and it is absolutely necessary to take precautions such as enabling two-factor authentication, making sure your wallet password is safe and secure with you, and more.

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