03 most prestigious Trade Coin & Margin exchanges (2021)
Description of 03 most prestigious Trade Coin & Margin exchanges (2021)
Newcomers should trade coins on which exchange? In this article, Coin98 will introduce the 3 most prestigious coin trading exchanges in 2021!
Choosing an exchange when starting to participate in the "subject" of Trade Coin is extremely important. Basically, they are not just a place where you do your regular cryptocurrency purchases and sales, but also a place to store your valuable assets.
The criteria for evaluating a good exchange are also based on many factors: the variety of coins/tokens, the liquidity of the exchange, security issues, convenience in use,... Each exchange All have different trading coin options, Coin98 has summarized and selected the 3 best coin trading platforms for you to trade regular cryptocurrencies and Trade Margin.
Binance Exchange
Binance exchange interface
Binance exchange information
Binance is one of the largest cryptocurrency exchanges in the world today. In Vietnam, Binance is also the largest reputable bitcoin trading platform used by many traders to trade.
In most cryptocurrency exchanges, Binance has a very diverse ecosystem. The exchange provides many services such as: Lending , Margin trading , Futures, Staking , DEX , ...
- Binance Futures : Futures trading platform.
- Binance Margin Trading: Margin trading.
- Binance DEX : Decentralized exchange, Trade directly between two people without going through any middlemen. Eliminates hacker problems as well as phishing.
- Binance Lending : A form of cryptocurrency lending. Those who store coins long term can consider Lending for extra profit.
- Binance P2P : Peer-to-peer cryptocurrency trading platform. You can buy and sell cryptocurrencies in VND directly on the Biannce exchange.
- Binance Staking : The coin staking service provided by the Binance exchange. Previously, this feature was made a section in Binance, but now, Staking has become a small part of the Binance Earn section.
Sign up for a Binance account at: https://coin98.xyz/binance-bnb
Advantages
It is not natural that Binance has become the world's largest exchange for cryptocurrencies. When trading coins on Binance exchange, you will receive the following benefits:
Safety and stability : When you bring your assets anywhere, safety and stability is a top priority. You will not be able to give any place to store your coins if they are not tested for safety and stability. And of course, if it wasn't safe, Binance would not have become the most reputable exchange today.
High liquidity: When you trade on other exchanges, you will worry because you don't know if the trade can be fully matched due to insufficient liquidity, but if you trade on Binance, it is almost impossible for you to trade. need to worry about this. Binance's total trading volume is still ranked 1st in the statistics of the whole market.
Support for multiple trading pairs: With Binance, not only has the diversity in trading pairs, almost on exchanges, Binance is still the top 1 in owning the most trading pairs.
Multi-language, multi-device: Becoming the world's largest cryptocurrency exchange, Binance is a cross-device trading platform, and language diversity is also an advantage to enhance Binance's accessibility with users.
Transaction Fees: When trading on Binance, users enjoy different incentives, especially you can use BNB coin to reduce transaction fees.
All in one: Speaking of Binance, you can do the entire trading process of a normal trader. From buying and selling P2P cryptocurrencies, participating in market transactions and then cashing out money back to your VND wallet.
All of these operations are not available to all exchanges, and perhaps for those reasons, Binance is in a position after only a few years where not all exchanges can.
Defect
Although it is the largest exchange, it is not because of that that Binace is perfect. Having encountered a number of problems that I feel is quite a big influence of the floor:
Binance has been hacked many times : Yes, as a large exchange, it is extremely normal for hackers to scour every security hole to seize assets. However, despite its efforts, Binance was hacked 3 times.
- The first time was in July 2018, hackers took away 96 BTC.
- The second time, the hacker took advantage of the vulnerability of the attack API and took away 7,074 BTC.
- The most recent was in May 2019, Binance was hacked 1 SYS = 96 BTC.
Exchange lags when trading volume is high : This happens quite often, with those who have been using Binance for a while will surely notice, every time the market fluctuates, trading volume increases. The mutation is that Binance's system is often difficult to access for users to trade.
This is really quite annoying for those who do not have a specific trading plan in place. If you want to take advantage of market fluctuations to trade to make profit, it will be quite difficult when the floor has lag in trading.
Trading operations is quite difficult for newcomers, especially Binance futures: Binance Futures is extremely risky. Referring to Binance Futures, there is inherent risk due to the use of high leverage.
However, with the Binance exchange, the popularity caused many users to burn their accounts due to the unusually long "beards" of candles compared to other exchanges, causing many users to burn their accounts, which otherwise would not exist on other exchanges. is also a big minus point of binance.
Evaluate
Of course, every exchange has its downsides, but overall, Binance is still the best exchange because of the services they provide to users today. Recognizing the disadvantages of the exchange so that we have an effective trading plan is the best method.
FTX Exchange
FTX floor interface
Information about FTX
FTX is an exchange specializing in providing derivative products related to Crypto such as: Futures (Futures), Leveraged Tokens (Leveraged Tokens) and OTC.
FTX was founded by Alameda Research – one of the largest market makers and liquidity providers in the world. Launched in April 2019, but after a while, FTX has created separate products to impress users.
FTX offers separate products such as:
1. Future contract: Future contract or futures contract. Like today's popular exchanges like Binance, FTX also supports contracts such as: quarterly and perpetual futures with popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK). ....
2. Leveraged Token: Also known as leveraged tokens , the FTX exchange offers more than 45 leveraged tokens with the suffix BULL and BEAR in the token name. These leveraged tokens are pegged to the original coins such as: ETH, BTC. Every time the price of ETH and BTC increases or decreases, the leveraged token will also fluctuate by a corresponding proportion. Example: When ETH increases by 10%, ETHBULL will increase by 30%. If ETH drops 10%, ETHBEAR will decrease 30%.
3. MOVE Contract: The MOVE contract on FTX also works like a futures contract, which will expire according to the amount of BTC moved in a certain period of time (maybe daily, weekly, quarterly).
The MOVE Bitcoin contract tracks the volatility of Bitcoin over a certain period of time. The more volatile the Bitcoin price, the higher the value of the contract. This contract is special in that, it doesn't matter whether Bitcoin goes up or down in price, the contract will increase in value as long as there is a movement in the price.
4. Options: Options contracts allow the “right” to be traded to buy or sell the underlying asset at a set price, over a set time, and FTX options can be customized in many ways as users have can configure the strike price and expiration time as they wish.
5. Spot Market: You can buy and sell popular cryptocurrencies and trade the way you do. For example BTC, ETH, LINK, DOT, UNI, etc.
6. Prediction Market: FTX introduces futures contracts for traders to predict the possibility of winning the US presidential election.
Register for an FTX account at: https://coin98.xyz/ftx
Advantages
FTX's trading market fully meets the needs of today's investors, such as:
Special diversified products : Unlike other Oder-book exchanges, FTX offers many derivative products, stocks, Perpetual futures, Crypto Indexes, Volatility contracts.
Other innovative products include: Token leverage, MOVE contracts (quarterly contracts)… and almost FTX is the first exchange offering Prediction Market that allows predicting the probability of winning the US presidential election.
Free Deposit and Withdrawal: With the FTX exchange, no matter how much and how many times you deposit and withdraw coins, FTX is free to trade.
It is this that makes me extremely satisfied and often leaves my assets on FTX and moves when I need to trade in other exchanges. Besides, the deposit and withdrawal of FTX is also very fast which is a plus point for the exchange.
Link API with trading application: FTX exchange has an API gateway that makes it easy for you to link your account with portfolio applications or trading bots.
No errors have arisen : Since coming into operation, the floor has not had any serious errors such as lag, slowness, hacked ...
Provide full API Key : FTX provides a full API for those who want to use 3rd party tools to trade.
Wide customer support : Support and create groups on telegram for users to communicate with many different languages, including a group for Vietnamese users.
Sub-account creation function: This is an extremely cool feature for you to manage money, divide assets into different accounts for convenient transactions such as long-term holding wallet, daily trading wallet. , or simply categorize each coin/token you hold.
Defect
Trading volume is still small , so statistics on CoinMarketCap are still limited.
Leveraged tokens become risky if users use them without understanding the details of how it works.
There are quite a few Altcoin pairs for users to choose to buy for long-term holding.
Evaluate
The crypto market is constantly evolving, FTX is an exchange with additional features like deep liquidity, fiat transfers, unlimited withdrawals and an OTC desk suitable for both retail and organizations.
At the same time, features such as liquidated funds, stablecoin payments, escrow wallet switching, and mobile apps will suit everyday retail traders.
Bingbon exchange
Bingbon floor interface
Information about Bingbon
Bingbon is a CFD (Contract For Difference) exchange and the largest margin exchange in Taiwan. Founded in May 2018, Bingbon received a $10 million investment from technology company Grand Shores – a listed company in Hong Kong (stock code 1647.HK).
Register for a Bingbon account at: https://coin98.xyz/bingbon
Advantages
Make a profit both when the price increases and the price decreases , something that the Order-book floor has not been able to do. At the same time you can place a “buy” and “sell” order in the same coin, same entry.
Ease of use : Bingbon's interface is considered to be easier to manipulate than other exchanges in the market. As for the execution of buy/sell orders, stop-loss/take-profit settings, bingbon is almost at the forefront of simplicity. Nearly anyone, even newcomers to the market, can use it expertly, something that Order-book floors have not been able to do.
With Order-book brokers, the setting of take profit/stop loss is usually required after opening a trading order. As for Bingbon, the Bingbon interface can perform all operations before placing an order, clear all parameters and from there, even newcomers can easily use it.
High security: Up to now, after 3 years of operation, Bingbon has shown itself to be a serious competitor in all aspects with other exchanges, and so far, Bingbon has never encountered security errors.
Support on multiple devices: Although it was officially launched not long ago, Bingbon has completed and supports transactions on both computers and phones.
High Leverage : Bingbon allows users to use very high leverage with BTC pairs up to 150x, while this figure in BitMEX is 100x and Binance Future is 125x.
Bingbon allows trading coins with leverage up to 150x
In addition, Bingbon has upgraded the leverage adjustment feature similar to Binance. The user can directly select the desired leverage level on the toolbar.
1. Copy Trading : This is considered a remarkable feature of Bingbon. With Copy Trade function, Bingbon will attract more users than other trading platforms due to its ability to help users make money on Bingbon for the simple reason that Bingbon creates a place where both copywriters and users copy is profitable.
2. Diversity of trading pairs: Not only allows trading of crypto pairs, Bingbon also allows trading in other fields such as: Forex, Commodity, Stock Indices...
3. Buy crypto: Allows trading and converting coins directly via visa card, OTC through the extremely new "Buy crypto" feature that no CFD floor offers.
Defect
There are still quite a few crypto trading pairs, trading pairs are all coins that have been around for a long time, stock index pairs or oil gold are not diverse.
Bingbon's trading volume is many times less than that of Binance or FTX.
Evaluate
Trading on bingbon is considered very easy for both newbies and those who are already familiar with the market.
To get where it is today, no other place, of course, lies in a small part of the exchange's efforts to bring users. Of course, for that reason, I consider Bingbon to be the best CFD trading platform today.
Conclusion
Just now is a summary of 3 coin exchanges that I think are the best for traders today. Of course, each person will have their own choices because they do not use only one exchange. The ultimate goal is profit, so each floor has its advantages, I will try to take advantage of it as much as possible to limit risks in trading.
And if you really want to start seriously with Trade coin and Trade Margin, you need to be fully equipped with all knowledge and a strong mentality. Follow the Technical Analysis section of Coin98 Insights to learn about indicators and tools in technical analysis, so you can be ready and confident to join Trade Coin!
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