Traditional and conventional investment methods have always been the most popular and secure option for investors. As accurate as that may seem, there has been a noticeable shift in interest in virtual currencies.
When you hear about Bitcoin making new highs or a billionaire generating hype around Dogecoin, such news piques your interest in trying out the sweet cake that is cryptocurrency and investing in it.
Binance is the world’s largest cryptocurrency exchange in terms of daily trading volume, but it is not the only option Asian traders and investors have. There are, in fact, several worthy alternatives when it comes to crypto exchanges in Asia that offer a variety of benefits such as lower fees, support for local currencies, and a wider selection of Asian-focused cryptocurrencies.
In this article, we have compiled a list of the 7 best alternatives to Binance crypto exchange along with their features as well as benefits they offer to the Asians.
Coinbase is a popular crypto exchange with a daily trade volume of over $1.6 billion based in the United States. It is currently one of the most trusted exchanges in the world with support for over a hundred countries. It offers a wide range of features including a user-friendly interface, a large selection of over 120 different cryptocurrencies, and support for multiple currencies including many Asian currencies.
Coinbase is an ideal option for Asian investors as it supports a several Asian currencies including the Japanese Yen, South Korean won, and Singapore dollar. Its widespread presence in the Asian crypto space include India, Japan, South Korea, and Singapore.
- Portfolio Management: Buy, sell and stake popular digital currencies and track them easily through their app for Android and iOS.
- Services: Cryptocurrency wallet to store assets, including NFTs as well as Cloud tools for blockchain development.
- Rewards System: Enables users to earn crypto rewards.
More on Coinbase: Visit official site
Gate.io is a cryptocurrency exchange, founded in 2013. It is amongst the most renowned exchanges in Southeast Asia and offers a variety of trading tools and resources for investors. Gate.io ranks 11 in terms of the best cryptocurrency exchanges in the world with a daily trading volume of approx. $700 million.
Gate.io has a strong presence in Asia and offers support for various Asian currencies allowing investors to invest and trade in over 1700 listed assets that the platform offers. CER ranked it as one of the best exchanges for cybersecurity. The platform is packed with in-built security measures allowing Users to safeguard their accounts
- Spot Trading and Margin Trading: Buy and sell cryptocurrencies at market price with up to 100x leverage.
- Lending: Earn interest on your idle crypto investments.
- Launchpad: Invest in new cryptocurrency projects at an early stage.
More on Gate.io: Visit official site
OKX is one of the biggest crypto-currency exchanges around the globe by trading volume. This Seychelles-based crypto exchange supports over 300 currencies which includes Bitcoin, Ethereum, Dogecoin, and many more
According, to various reviews left by users, OKX is one of the most reliable crypto exchanges available. The high liquidity and Instant buy/sell options make this an exceptional option for traders, and the novice ones Features like derivatives trading, margin trading, spot trading and staking etc contribute in earning OKX more than 50 million global users.
The trading fee depends on the type of trade and the amount being handled.these factors influence the trading fee, deposit fee, and withdrawal fee.
- Easy to Use: The user-friendly interface makes it an excellent option for traders who have just started out.
- Multiple Trading Options: Diverse trading options like futures, margins, and spot attracts all types of traders.
- Currencies Supported: Since almost 350 cryptocurrencies are supported along with the feature of Instant buy/sell, Hence, OKX is gaining popularity due to the convenience it offers.
More on OKX: Visit official site
Bitfinex is a cryptocurrency exchange based in Hong Kong. Bitfinex is a sizable cryptocurrency exchange that offers extensive trading options and products, such as paper trading, margin accounts, spot trading, and derivatives.
Featuring a range of features suited to new and seasoned cryptocurrency users, it has a market capitalization of $3.6 billion with support for over 170 crypto coins including Ethereum, Bitcoin, Terra, Tether, Solana, Litecoin, Ripple, and many others.
Since its establishment, the exchange has maintained its position as a leader in cryptocurrency trading, ranking 22nd out of the world's largest exchanges based on volume. With most trades costing just 0.20% or less, Bitfinex offers comparatively affordable trading fees.
Bitfinex offers a user-friendly trading interface, with features and options that seasoned traders would find appealing.
- Staking: Earn rewards by staking your cryptocurrencies to support blockchain networks.
- Paper Trading: Utilize ‘play money’ to buy and sell assets at market price and practice your crypto trading skills without any real investment.
- OTC Trading: Buy and sell large amounts of cryptocurrencies directly with Bitfinex.
More on NordVPN: Visit official site
Crypto.com is a prominent cryptocurrency exchange that accepts extensive crypto assets and blockchain-related products. Users can buy, sell, as well as trade a wide range of currencies while paying lower trading fees. It has a daily trading volume of over $1 Billion with its own coin, CRO. If you own a large stake in CRO, you will be rewarded with lower trading fees, higher staking interest rates, and higher credit card rewards.
The company also facilitates cryptocurrency credit cards, a decentralized exchange, a standalone crypto wallet, and an NFT marketplace. Users can also stake their cryptocurrency or keep it in a Crypto.com wallet for a set period of time to earn up to 11% interest.
- Visa Debit Card: Spend your cryptocurrencies at merchants around the world.
- Crypto Wallet: Securely store your crypto assets and coins.
- NFT Marketplace: Buy and sell non-fungible tokens.
More on Crypto.com: Visit official site
Bybit is an excellent option for traders who are focused on derivatives trading. With over 10 million users across 180 countries, Bybit is one of the most reliable crypto exchanges. The biggest reason behind it gaining traction is that the user does not need to go through the hassle of KYC verification. With more than 100 Crypto tokens listed, Bybit is a trustworthy and convenient option for traders.
Margin trading can be done with up to 100x leverage. The fact that it has negligible fees proves it to be the cherry on top. With it’s headquarters based in Singapore, this relatively new exchange is taking over the trading market rapidly.
Since it also has a mobile app along with the web platform, monitoring, and trading can be done by the user on the go.
- No KYC- All the features of the exchange can be used without having to go through the KYC procedure.
- Crypto Loans- Existing tokens can be used as collateral to borrow cryptocurrencies if needed.
- 0% Trading Fees on Spot Trading- The trading fees are marginally low, which is increasing Bybit’s demand day by day.
More on Bybit: Visit official site
KuCoin is a centralized cryptocurrency exchange that was founded in 2017 with the goal of providing a "simple and safe platform for people all over the world" to trade various digital coins. It made Forbes' list of the best crypto exchanges for 2021 because of its extensive library of altcoins at low fees.
KuCoin Token (KCS) is its native token, with a circulating supply of 78 million and a total supply of 168 million. Its market capitalization is currently $880 million. You can earn passive income as a KCS token holder by receiving trading fee rewards.
- Support For Small Cap Cryptos: KuCoin offers a diverse range of tokens, including lesser-known coins and small-cap coins with significant growth potential.
- Beginner Friendly: KuCoin can be accessed via desktop or mobile app and features an excellent design that makes trading simple and entertaining.
- Stake KCS Tokens: You can earn rewards by staking your KCS tokens on KuCoin.
More on KuCoin: Visit official site
Due to the widespread adoption of cryptocurrencies on a global scale, the number of cryptocurrency exchanges has peaked allowing traders/investors to buy and sell digital currencies on their respective platforms. CoinMarketCap, the most-referenced cryptocurrency price-tracking website, tracks a total of 226 crypto exchanges that are functional today.
However, because this sector is not regulated and still in its early stages, it is critical for investors to distinguish between reputable cryptocurrency exchanges and fraudulent ones in order to avoid falling victim to any of the scams or frauds. Consequently, we have curated this list of the seven best Binance trustworthy and user-friendly alternatives for emerging as well as veteran crypto investors.