Choosing a cryptocurrency exchange is a difficult challenge for a newcomer: there are dozens of platforms today, and each has its pros and cons. The BeInCrypto editorial team made it easy for novice investors and traders and compiled the top centralized exchanges that are great for learning about the world of cryptocurrency.
The world’s most famous centralized exchange, Binance, is seriously outpacing its competitors in terms of trading volume. The platform supports all popular languages and allows users to buy cryptocurrencies for any currency through p2p transactions.
Binance’s ecosystem includes spot, futures and over-the-counter trading, a mining pool, stacking, lending, and a marketplace for non-fiat tokens (NFT). For those who prefer to keep private keys under control, the company offers a non-custodial Trust Wallet.
Key figures and data:
- Founding date: 2017
- Geography: Cayman Islands
- CEO: Changpeng Zhao (CZ)
- Trading volume per 24h: $14,991,572,892 (Binance international); $288,223,824 (Binance US)
- Number of supported cryptocurrencies: 387 (Binance International); 147 (Binance US)
Pros:
- Greater liquidity.
- Low and sometimes zero trading fees
- Convenient mobile app for iOS and Android
- The most favorable P2P rates
- Own database of training materials
Cons:
- Requires compulsory KYC
- There are restrictions for citizens of the Russian Federation – the deposit amount for users from Russia should not exceed the equivalent of 10 000 euros. Restrictions can be bypassed by the extended verification of the address (Proof-of-Address) of another country.