To begin with, the Centralized word itself refers to an organization that is controlled and has full authority over someone’s individual identity. The same way that our Non-Democratic Government rules the entire nation as the leader wants. Centralized Crypto Exchanges are not much different from them.
While having a monopoly under these big industries, Centralized exchanges sometimes leave with few good & bad impacts as well. We’ll here discuss what actually are Decentralized exchanges and which exchange to choose and make you as Best Centralized Crypto exchange.
Centralized exchanges (CEXs) are companies that integrate massive trading of cryptocurrencies.
Crypto Exchange which includes features like less fees, High security, Customer support, and Easy to use platform makes Centralized exchanges different from any other exchanges out there. The list of Best Centralized Crypto Exchange are:
- Binance & Binance US
In this article, we’ll discuss everything you must know before you start investing or trading any crypto in these Centralized exchanges. This Informative guide would eventually make you decide which DEXs suits best for you and How to register yourself for the same.
Frequently Asked Questions:
How to choose Best Centralized Crypto exchange?
Are Centralized exchange safe?
Is Kraken Centralized?
What is the most popular decentralized exchange?
Is Coinbase centralized or decentralized?
Centralized exchanges (CEXs) are firms that coordinate cryptocurrency trading on a huge scale, by a similar traditional process that Stock companies use.
Exchanges are basically Shop for any crypto services you want to have from buying & selling crypto to lending or staking your crypto, which Centralized exchanges make all very easy. In the crypto industry, a few well-known Best Centralized Crypto Exchanges are Binance, Coinbase, FTX, Gemini, Kucoin, Kraken and much more.
Centralized crypto exchanges directly engage in markets by “clearing” agreements. They commonly store digital order books, which are listings of open buy and sell orders, consisting of volumes and prices. They connect together buyers and sellers and publicise current market pricing based on the latest price an item sells for.
CEXs frequently offer extra services, such as crypto asset storage. They also offer to stake our crypto or SIP schemes to make your investment even more fruitful. They typically require that users deposit their crypto assets at the exchange before trading can occur.
Exchanges are the most valuable firms in the crypto Global sphere, Where there are always rivalry between Centralized & Decentralized Crypto exchanges. Here’s what we found out As of September 2022, CEXs are still substantially more prevalent than decentralised exchanges (DEXs) (DEXs).
Experts estimated that they accounted for around 95% of exchange crypto trading. The largest crypto exchange in the world is Binance, which is centralised but it has established its own DEX.
Let’s further know the comparison between CEXs & DEXs more in detail.
Centralized Vs Decentralized Exchanges
To Inform there are two types of Exchanges in this industry so far:
- Centralized Crypto Exchange
- Decentralized Crypto Exchange
They Both carry them, especially with pros & cons, Nowadays Crypto enthusiast are already know much more about DEXs which makes them more visible today unlike a few years back. DEXs became more popular when CEXs begin to hit cyber attacks and cyber frauds, where DEXs are beyond such activities over time. Let’s begin with a comparison between CEXs & DEXs.
|Criteria||Centralized Exchanges||Decentralized Exchanges||Impact|
|✔ Control||Here, They Control your Funds||Here, You Control your Funds||High|
|✔ Adoption||Easy Adoption||Tough Adoption||Low|
|✔ Server||Their Serve may have Downtime||Here, Servers are online 24/7||Med|
|✔ Security||Risk of Hackers||No chance of any Cyber attacks||High|
|✔ Fees||Charges Significant trading fees||No such fees||High|
|✔ Liquidity||Very High Liquidity||Low Liquidity||High|
|✔ Features & Tools||Advanced Tools & many features||Basic features||Low|
|✔ Identity||Not Anonymous||Anonymous||Med|
These were the Significant criteria which make CEXs & DEXs differ from others. Our Topic for today is to know the Best Centralized Crypto exchange, so let’s go in!
Binance is the perfect blockchain and cryptocurrency infrastructure provider in the world. One of the financial products it offers is the largest digital asset exchange by volume. The Binance platform, which is trusted by millions of people around the world, wants to give users more financial freedom by giving them access to a wide range of cryptocurrency products and services. These include trading and finance, education, data and research, social good, investment and incubation, decentralisation and infrastructure solutions, and more.
Binance Coin (BNB) and BinanceUSD (BUSD), two cryptocurrencies that the business developed independently, have already been released (BUSD). BNB appeared in July 2017.
Binance has its own native crypto coin which is among the cryptocurrency with the third-highest market capitalization was Binance Coin. Users of Binance are able to utilise BNB to pay fees on the exchange.
Features Binance offers:
- Available in over 180+ Countries
- 0.5% fee for spot buy/sell crypto
- Easier to register and complete KYC details
- Peer-to-peer trading, leverage trading, limit orders, market orders, stop-limit orders, trailing stop orders, and much more
- Heavy Discount on every trade when you hold a BNB coin
- Regulatory oversight in the past
- Customer support has its limit
FTX takes the #2 Spot because of its huge usability and trust built by the brands. FTX is a trading platform and exchange for crypto derivatives.
FTX was developed for Crypto enthusiasts and crypto investors and seasoned traders who are fully aware of what consumers are looking for. It is supported by top-notch security to enable flawless fiat and cryptocurrency transactions.
In a matter of minutes, you may buy, sell, or trade 250+ cryptocurrencies, including bitcoin (BTC), Ethereum (ETH), Solana (SOL), and many more.
The cryptocurrency FTT is referred to as FTX’s “exchange token.” FTX has really improved with time and gained much popularity as Binance did in past few years. It is said that Binance & FTX are town one of the recommended Best Centralized Crypto Exchange.
Features FTX offers:
- Available in over 150+ Countries
- The minimum amount to start trading is as low as $1
- Support FIAT currencies & Allow wire transfers in EURO, USD, INR, AUD, GBP, and so on
- Low withdrawal fees & deposit fees.
- Impressive options & tools while you trade
- No Customer support live chat platform
- Less options for coins then what Binance offers
Kucoin appears to be the Fast-growing best-centralized crypto exchange all because of it super wide variety of coins & projects. Kucoin is also known for Gem treasure as there are numerous coins that are undervalued and then turn out to be catching rocket gains.
Users can use leverage by trading on margin, buying futures, or using tokens with leverage. Before users can use the 100x maximum leverage that KuCoin futures offers, they must first pass KYC.
The company is based in Seychelles, but it also has offices in Hong Kong and Singapore. It has customers in more than 200 countries and more than 20 million of them.
On a list of the top coins, including BTC, ETH, USDT, BNB, ADA, XRP, USDC, DOGE, DOT, UNI, and more. It lets you buy, sell, and trade about 750 numerous cryptocurrencies.
Kucoin focused on design that is easy for people to use, has a simple registration process, and has a high level of security. The platform, which was sometimes called “people’s exchange,” helped more than 20 million members around the world and made it possible for 1.2 trillion worth of trades to happen over a period of time.
Even though the project doesn’t have a licence to operate in the US, traders and investors in cryptocurrencies can still sign up for accounts.
- tiered-based fee distribution when you hold a KCS token.
- High liquidity even on numerous low-caps tokens
- Kucoin Earn feature lets you earn overtime interest on your cryptos
- Low fees with Great UI design for mobile applications
- Supports staking & pools widely
- Doesn’t offer phone support
- Its not available to US residents
Coinbase, which is the largest cryptocurrency exchange in the U.S. It trades in more than 150 different cryptocurrencies. Coinbase made it possible to buy and sell bitcoins using bank transfers in 2012.
With Coinbase Pro, users can make transactions from one cryptocurrency to another, place market, limit, and stop orders, and use advanced charting tools. With the new Advanced Trade feature, Coinbase has added some of the features and lower prices of Coinbase Pro to its regular interface.
Coinbase is also trying out a new service called Coinbase One, which has a monthly fee but offers free trades and other perks in exchange. In May 2022, the price was about $30, even though the app was still in beta testing.
Coinbase has achieved 115,000 ecosystem partners, 7,000 institutions, and 43 million verified users from more than 100 countries. The first time Coinbase sold shares to the public was on April 14, 2021, on the Nasdaq. That makes #1 Crypto exchange to enter in the stock market world! That’s how good regulations look like.
- It has over 200+ currencies to trade on.
- minimum amount to trade is only $2.
- Easy to use & simpler make your first trade
- Extraordinary customer support feature
- highly professional apps for Ios & android
- Higher fees than other cryptocurrency exchanges.
Kraken comes out to be next and why? because, Bitcoin and Ethereum, the two most popular cryptocurrencies on the market, can be bought, sold, and traded easily on Kraken, a large cryptocurrency exchange. In addition to buying and selling cryptocurrency at market prices, Kraken customers can trade futures and margin accounts, which are riskier commodities that can be useful for certain trading strategies.
Kraken was one of the first Bitcoin exchanges. It has low exchange fees and lets you buy, sell, and trade more than 120 different currencies. It stands out because you can trade both futures and spots at the current market rate.
Kraken is a great choice for cryptocurrency investors and traders who want to trade with few fees and access to a wide range of currencies.
Kraken also lets you use stablecoins like Tether, USD Coin, and Dai. You could even trade US dollars for any other stable FIAT currency. This helps many investors to convert their whole fund to their needs.
Kraken has come out to be secured and taking only quality coins with over $250 billion worth of quarterly trading volume alone. Kraken provides consumers with two trading platforms, Kraken and Kraken Pro. Kraken Pro features reduced prices and is accessible to all Kraken account holders.
- High-rated currencies to trade on
- minimum amount to trade is only $10.
- beginner-friendly and Various trading tools
- simple user interface
- customer support includes phone calls, and live chat
- Higher fees with simple Kraken Account then Kraken Pro account
Gate.io rounds up being one of the best-centralized crypto exchanges. On the regulated cryptocurrency exchange Gate.io, you can trade a number of different digital currencies and tokens. More than 2500 trading pairs and more than 1400 cryptocurrencies can be done on the platform. With both spot trading and margin trading, the project has one of the highest trading volumes (more than 12 billion USD in daily trading volume).
The first cryptocurrency exchange in China is called Gate.io. The company is based in the Cayman Islands. Except for Cuba, Sudan, Syria, Iran, North Korea, Venezuela, Pakistan, and Crimea, everyone can get to the website. Some services are not open to people from the United States (Washington and New York) and Canada.
gate .io website has almost every important currency on the market, like the top 25 cryptocurrencies by market capitalization.
Gate .io Features:
- Over 1400+ crypto coins
- Rewards tasks and offers on a regular basis
- Excellent design and usability
- Robo trading, marketplace, Gate earn section, Spot/Margin/ETF trading with leverage
- customer support includes phone calls, and live chat
- it’s not easy to use because of its numerous advanced features which may appear hard to understand.
- Reports of several minor cyber attacks
Bitstamp is one of the oldest centralized cryptocurrency exchanges (CEXs). It serves over 4 million customers in over 100 countries. The exchange says that its platform is useful, clear, and easy for everyone to use.
The exchange is used by more than 100 countries. Bitstamp follows all of the rules and restrictions that Singapore, the EU, and the US have put in place.
Bitstamp has a list of 78 cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, Ripple, Solana, and DOT.
One drawback is that Bitstamp exchange doesn’t let you trade on margin or get a loan.
- Regulated in USA, and many more countries
- No trading fees, if you have funds below $1000.
- Premium 24/7 support available
- Easy to register and start trading
- Cash out your crypto in seconds
- Only 78 variety of coins are available
- No margin trading
Huobi Group is the world’s top provider of financial services for blockchain assets. The global digital asset exchange Huobi Global serves more than 100 countries and also know as one of the alternatives of Best Centralized Crypto Exchange. The platform was started in China in 2013. It works with clients from all over the world and lets people from all over the world trade and invest. Each day, more than $4 billion is traded on the platform.
The centralized exchange (CEX) offers a wide range of cryptocurrencies and supports initial coin offering (ICO) tokens. The site lists more than 500 assets and 300 trading pairs.
Due to a tiered trading fees structure, the rates of trading fees on Huobi depend on how much each user trades each month.
The website lets people trade on margin for a number of cryptocurrencies. For cross-margin, people can borrow money to trade with leverage of up to 3X.
Houbi Global Features:
- Regulated in the USA, and many more countries
- Comparatively fewer trading fees
- Welcome bonus of more than $3000 to anyone who signs up ( Lifetime )
- leverage up to 200X
- Instant deposits and withdrawals with fewer fees
- Frequent server down problems
- Contact help and support via only live chats.
One of the least discussed centralized exchanges out there, MEXC is a regulated cryptocurrency exchange with spot, margin, and futures trading options. The exchange, which opened in 2018, also offers index ETFs, leveraged ETFs, and quantitative trading. MEXC Earn also includes Launchpad, M-day airdrops, MX-Defi, Staking, ETH 2.0 Staking, and other things.
Futures trading fees are based on a tiered system, with levels ranging from 0 to 6 based on the number of trades made in a 30-day period.
MEXC is available to the USA, Canada, Switzerland, Australia, and rest of the countries all around the globe.
MEXC lets you trade futures with up to 125X leverage using USDT and the underlying cryptocurrency as collateral. You can also trade 2X-5X leveraged ETFs on both the long and short sides.
Withdrawals charges fees, but deposits are free. Withdrawal fees depend on the cryptocurrency, payment method, and transaction costs.
- Regulated in the USA, and many more countries
- leveraged ETFs available to trade
- Easy registration and a simple platform to use
- leverage up to 200X
- Safe & Secure Platform
- No fiat withdrawals are available
- Help support which includes only contact via emails.
Bitfinex is the biggest and oldest cryptocurrency exchange. It offers a wide range of trading options and products, such as spot trading, margin accounts, derivatives, paper trading, and more. Bitfinex probably has everything you need to manage all of your cryptocurrencies in one place. It has a mix of features that are good for both new and experienced cryptocurrency users.
Bitfinex has more than 170 cryptocurrencies available on its live trading platform. These include Bitcoin, Ethereum, Terra, Tether, Solana, Litecoin, Ripple, and many more. It would take too long to list them all, but Bitfinex does a great job overall of making it easy to use popular currencies on its platform.
Crypto, stablecoin, and security deposits are all free, but there is a 0.10% fee for wire transfers. The cost of withdrawing money depends on the coin.
Through the platform’s peer-to-peer (P2P) margin funding system, eligible users (basic plus verification level and above) can trade with up to 10X leverage.
- Bitfinex offers order books with top-tier liquidity
- Leveraged Margin trading up to 10X
- supports over 170+ countries across the globe
- Advanced types of order types and trading tools
- Safe & Secure Platform
- not yet established in US
- History of regulation terms and conditions
Bybit is a centralized exchange (CEX) for cryptocurrencies. It offers crypto traders of all skill levels a professional platform with an incredibly fast matching engine, first-rate customer support, and multilingual community support. By bit was started in March 2018 and now gives more than 10 million users and institutions access to more than 100 assets and contracts, including Spot and cryptocurrency derivatives like Futures and Options, launchpad projects, earn products, an NFT Marketplace, and more.
By bit supports more than 300 spot trade pairs and more than 100 crypto tokens, including popular coins like BTC, ETH, SOL, APE, DYDX, DOGE, MATIC, and others.
The exchange also lets people trade crypto derivatives with up to 100X leverage.
Customers can buy inverse perpetual, crypto futures, crypto options, and tokens that can be used to borrow money.
- Multiple types of orders which enhance the trading experience
- leverage up to 125X to any perpetual contracts
- Offers crypto loans with fewer interest rates
- fees are significantly less here
- Safe & Secure Platform
- Lack of regulation.
- Not available yet in the USA
OKX is well known for offering a perfect platform for derivative trading. In addition to spot and simple options, the exchange offers derivatives like options, futures, perpetual swaps, and margins. The exchange also offers crypto loans, trading bots, block trading, OKX Earn (which includes savings, stablecoins, Defi, staking, and ETH 2.0), and Jumpstart, which is its launchpad.
OKX also has its own token, OKB, and blockchain, OKX Chain, which lets projects and builders make DApps and developers use tools like OKX Oracle and other infrastructure.
More than 200 countries have backed the plan. But people from the United States can’t use the platform’s services.
On OKX, you can use up to 10X leverage to trade on margin. OKX lets you trade futures and does swaps that last forever. It also lets you trade derivatives with up to 125X leverage.
- Supported in over 200+ countries worldwide
- Advanced trading tools & charting tools
- variety of crypto coins up to 350
- Smooth interface while trading
- Access new tokens early and trade them
- No support for USA residence
- Poor Help and support
- Fees are comparatively higher then other exchanges
Phew, that’s all with our list of Best Centralized crypto exchanges of all time. but, I am aware you are still confused about the answer “Which is best of them”? Okay, now it’s time to compare the top 3 Best Centralized crypto exchanges for you all to make accurate decisions.
Comparison of Top 3 Best Centralized crypto Exchanges
✔ Good as an investment
✔ Promotes your VIP level
✔ Extra returns on Staking FTT
✔ Good as investment
✔ Promotes your Tier level