Crypto exchange coins and tokens have really done well in both bull and bear market. Buying cryptocurrency exchange tokens might have given you more returns that other altcoins put together.
Identifying good coins in the crypto space is essential to crypto enthusiasts. It may depend on the benefits of the coin provided by the crypto exchange or the crypto exchange itself. Users can earn dividends, receive discounts and generate passive income by merely picking the right choice of coin. Let us have a look at the best crypto exchange coins to buy in 2021.
Best Crypto Exchange Coins and Tokens to Buy in 2021
Top 10 Cryptocurrency Exchange Coins [2021 UPDATED]
FTT (FTX): Best Centralised Exchange Coin 2021
FTX is a crypto derivatives exchange owned and operated by the company FTX Trading LTD. The platform was started in May 2019 by Sam Bankman-Fried, currently the Chief Executive Officer (CEO) of FTX.
FTX offers and issues its native crypto coin known as the FTT token. It is an ERC-20 token which runs of the Ethereum blockchain network. The FTT tokens were created on 21st April in the year 2019. The crypto exchange coin can be found an dtraded on major trading platforms such as Huobi, Bitfinex and FTX. It was previously listed on Binance, but was de-listed as the trading platform found that the FTT token was rapidly volatile and hard for users to understand and trade, as the token has not been primarily created for trading purposes.
Some of the benefits of holding FTT tokens as part of a crypto user’s investment portfolio are:
- FTX users can avail discounts on the trading fees for the processed transactions which has led to an increase in the demand of the FTT token within the platform’s ecosystem.
- FTX has partnered up with Binance, a leading crypto exchange and trading platform which will eventually result in the sale of FTT tokens on Binance Launchpad’s IEO in the upcoming future.
FTT holders can also avail fee rebates. The discount users can receive by holding FTT tokens are:
|FTT Holding (USD)
|Discount on FTX Fees
BNB (Binance Coin): Best Performing Crypto Exchange token of all Time
Binance is the number one crypto exchange in terms of trading volume across the world. It offers crypto trading services with economical trading fees. It offers BNB tokens, a native crypto coin issued by Binance which is available for trading on most crypto exchanges as well as trading platforms. By holding BNB crypto tokens, users can pay discounted trading fees on their trading transactions. It is a versatile digital asset which was launched in 2017.
It is an altcoin which was initially based on the Ethereum blockchain network, an ERC-2o token which means that the BNB coin is compatible with all services that support Ethereum. Thus, it claimed protected from the Ethereum network and gained credibility. However, Binance prompted users in 2019 to convert their BNB tokens to BEP-2 tokens. It currently supports the ERC-20 tokens but users are not allowed to withdraw those tokens.
The special features of holding BNB coins are:
- Users can utilize BNB tokens for payments on Binance for exchange, withdrawal, listing, margin, and other applicable fees.
- The demand for the token increases with the rise in trading volume on Binance.
- Binance is planning to re-purchase the BNB coins from users.
- Users can transfer crypto via BNB tokens.
- The rewards for Binance’s affiliate program are increased if the user holds these tokens.
The KuCoin Shares token or KCS is issued by KuCoin, a globally popular crypto exchange known as “The People’s Exchange”. KCS tokens were launched through an Initial Coin Offering (ICO). These tokens were released by the platform to serve as funding for the growth and development of the organization, KuCoin.
Users can simply earn income by holding KCS tokens as 40% of the trading fees is assigned to users who utlize the referral program and the 50% is given to users who hold KCS tokens. Two hundred million tokens were created and sold to investors of KuCoin. These funds were locked up for 2 years and 4 years. The funds which were locked up for 2 years have been released, the 4 year locked up funds will be released in September, 2021.
Benefits of holding KSC tokens:
- Users can avail attractive discounts on their trading fees.
- Holders can receive dividends on their KCS holdings.
- Additional trading pairs are accessible to users who hold KCS tokens.
- Users can stake their KCS tokens and earn crypto.
HT (Huobi Token)
Huobi is one of the top crypto exchanges and it issued its own native token known as the Huobi Token. The Huobi Token belongs to the best 50 crypto coins in terms of market capitalization. The aim of the creation of HTs are for functionality within the Huobi ecosystem.
Huobi Tokens result in the rise of trading platform’s capitalization and users who hold these tokens can avail additional opportunities within the platform. When users utilize HT tokens for payments, they can receive a discount of up to 50% on the fees charged for transactions.
Additional trading pairs are introduced for these users providing more convenience via conversion and trading. Huobi Token holders have the opportunity to participate in a voting and co-management program for the development of the platform.
Huobi Token can be traded on Huobi Global, HitBTC, Bibox and more. There are not many crypto wallets that support this specific token.
OKB is a native utility token offered by OKex used globally. It is used by the OK Blockchain Foundation. The platform burns OKB tokens on a regular basis to reduce the supply. This results in a rise in the value which encourages users to hold OKB tokens as part of their crypto investment portfolio. The OKB tokens are burnt every 3 burns by a burning address that is inaccessible to the public or OKex users. Users can view the reports of the burning, after the process.
It can be traded on crypto exchanges such as OKex, Bitfinex and more. The benefits of holding OKB tokens are:
- Users can avail discounts on trading fees for transactions executed on OKex.
- They can earn passive income by holding OKB tokens.
- Exclusive benefits can be claimed by OKex users.
- Token sales and buybacks are beneficial for the development of the platform.
Ascendex Token / BTMX (Bitmax)
Bitmax is an exchange for digital assets. The platform offers its native utility token known as the Bitmax token or the Ascendex Token, with the ticker symbol: BTMX. This is the primary unit for exchange purposes on the platform. BTMX has a total supply of 10 million tokens.
Users can receive BTMX tokens through transaction fee mining or direct trading on Bitmax via two crypto pairs: BTMX/USDT and BTMX/BTC.
The token is non-refundable and can be exchange between two users on Bitmax. These tokens are not applicable for trading, discount on fees, dividends, revenue or profits. It serves as an economic incentive for users on the platform who actively participate within the Bitmax ecosystem.
WRX (WazirX Coin)
WRX token is the native token of crypto exchange, WazirX. Users can get a discount of up to 50% on trading fees by using WRX tokens as payments. Other crypto assets can be purchased via WRX coins. WRX coins prove to be essential during the payment of listing fees for tokens on WazirX, voting in favor or against the listing of certain projects, payment of fees on margin trades.
Users can obtain WRX tokens when they register for a new account on WazirX with a referral code. Greater the number of trades made on the platform, especially in markets of USDT, BTC and INR, greater the umber of WRX coins the user can attain. The token is issued and circulated on Binance Chain, Binance’s native blockchain. Other ways to earn WRX coins are through mining, Peer to Peer trading and airdrops. The platforms burns the tokens on a quarterly basis.
UNI (UniSwap token): Best Decentralised Exchange Coin 2021
UniSwap is a decentralized exchange (DEX) where users can fund liquidity pools and generate profits. It launched its own native protocol token known as UNI in September, 2020. A total of 1 billion UNI tokens have been minted since its inception, which will be released to users, investors and advisors in batches, over a period of 4 years.
The UNI token is distributed:
- 60.00% to Uniswap community members 600,000,000 UNI
- 21.51% to team members and future employees with 4-year vesting 215,101,000 UNI
- 17.80% to investors with 4-year vesting 178,000,000 UNI
- 0.069% to advisors with 4-year vesting 6,899,000 UNI
These tokens are utilized for governance and mining liquidity. Users can stake their UniSwap LP tokens to obtain UNI tokens. Liquidity mining is available for specific trading pairs only such as ETH/USDT, ETH/USDC, ETH/DAI and ETH/WBTC.
SUSHI (SushiSwap Token)
SUSHI is the native token offered by Sushi Swap, a popular decentralized exchange (DEX). Theses tokens can purchased on DEXs such as UniSwap, 1inch, Balancer and Sushi Swap. SUSHI tokens can be bought on globally popular centralized exchanges as well, on Binance and Poloniex.
It is an ERC-2o token based on the Ethereum blockchain network. It was initially introduced for rewards, but the demand for token increased and so did the benefits associated with the token. Users can stake SUSHI tokens on the platform to obtain more SUSHI tokens.
CAKE (PancakeSwap Token)
PancakeSwap is a Decentralized exchange and a DeFiapp which is built on the Binance Smart Chain (BSC). CAKE token is a native token issued by PancakeSwap which is a BEP-20 token and is compatible with all platforms that support and allow BEP-20 tokens.
Users can stake their PancakeSwap Liquidity Provider (LP) tokens to earn CAKE tokens. Staking of CAKE tokens will result in more CAKE tokens. Users can also stake CAKE tokens to earn tokens from other projects. CAKE tokens can be purchased on Binance with BEP-20 tokens such as Binance Coin (BNB), BUSD and Bitcoin (BTC).
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Which are my top crypto exchange coins that I hold?
I hold FTX, BNB and KCS. I had Uni in my list but have sold it all. I might again have them in future. For the month of August, I have higher expectations from FTT and KCS.
Now that you know about the best crypto exchange coins and tokens to buy in 2021, let us know which coins from the mentioned list do you hold in your portfolio.