Cryptocurrency exchanges to watch out for in 2021

By Joy Dumasia

Cryptocurrency exchanges, or a digital currency exchange, is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. Exchanges may accept credit card payments, wire transfers or other forms of payment in exchange for digital currencies or cryptocurrencies. 

The creators of digital currencies are often independent of the digital currency exchange that facilitate trading in the currency. In one type of system, digital currency providers keep and administer accounts for their customers but generally do not issue digital currency directly to those customers. Customers buy or sell digital currency from cryptocurrency exchanges, which transfer the digital currency into or out of the customer’s account. Some exchanges are subsidiaries of DCP, but many are legally independent businesses. 

Cryptocurrency exchanges facilitate the trading of cryptocurrencies for assets. In effect, cryptocurrency exchanges intermediaries between buyers and sellers and make money through commissions and transaction fees.

The following are Cryptocurrency exchanges to watch out for in 2021:

• Bitstamp

Bitstamp’s Crypto-as-a-Service, any bank or financial institution can enable its customers to buy and sell cryptocurrencies effortlessly. There are no direct fees for staking and unstacking assets. However, they commission the total reward pool collected by staking nodes before distributing rewards to individual customers. This commission covers all costs and fees associated with staking and is currently set at 15.00% of total rewards collected by staking nodes.

Recently, IBS Intelligence reported that Bitstamp announced the appointment of Julian Sawyer as its new CEO. Sawyer will be taking over from Nejc Kodrič, the founder who remains an integral part of the company but has transitioned to a non-executive role as a member of our Board of Directors. He will continue to provide direction play an important role in the future of the company.

• Binance

The Binance Exchange is a leading cryptocurrency exchange founded in 2017, features a strong focus on trading. Binance offers crypto-to-crypto trading in more than 500 cryptocurrencies and virtual tokens, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own token Binance Coin (BNB). 

IBS Intelligence reported that Binance, the world’s largest crypto exchange, has partnered with crypto-fiat hybrid payment solutions provider Alchemy Pay to build a payment bridge between crypto and fiat through the Binance Pay wallet. Binance Pay is a contactless, borderless, and secure user-to-user cryptocurrency payment feature on the Binance App. 

• Coinbase

Founded in 2012, Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like bitcoin, ethereum, and litecoin. Disrupting the industry by having the vision to bring more innovation, efficiency, and equality of opportunity to the world by building an open financial system and making digital currency accessible and approachable for everyone. 

IBS Intelligence recently reported that Coinbase states the global cryptocurrency exchange platform has found that many Brits increasingly identify cryptocurrency as a viable and reliable alternative to traditional financial systems. Cryptocurrency has traditionally been seen as a speculative trading investment.

• Bitfinex

As a cryptocurrency exchange founded in 2012, Bitfinex has always been at the forefront of technological innovation in digital asset trading. The Bitfinex team has gained invaluable experience in blockchain technology while the platform has cemented its position as the go-to place for digital asset traders and institutions to trade. Bitfinex provides state-of-the-art digital asset trading services for users and global liquidity providers.

Recently, IBS Intelligence reported that Bitfinex, a digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers, has launched Increase Position and Bitfinex Borrow features for paper trading to enable users to explore and better understand these features in a simulated market an environment without the use of real funds.

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