Best FTX Alternatives: Which is the best exchange to Trade on?
FTX, once one of the most popular and highly rated crypto exchange platforms, has now found itself in a concerning position. It has also filed for bankruptcy. After the entire FTX and Binance situation, with FTX now gone, and a lot of people lost massive amounts of funds, many investors are looking for alternatives.
In this article, we give you a list of 5 best crypto exchanges that you can use as an alternative to FTX.
What we are going to learn?
Binance: Best CEFI FTX Alternative
Binance stands to be the top crypto exchange platform globally. With its CEO Changpeng Zhao, Binance is one of the most popular and trusted programs to use for crypto exchange. The platform doesn’t charge users any depositing fee and also restricts the trading fee to just 0.01% to 0.05% of the entire amount. Binance has constantly taken pride in its SAFU (Security Asset Funds for Users) feature that prevents users from falling prey to the consequences of stolen funds. Binance offers a platform for highly secure and fast-running transactions which makes it one of the best crypto exchange alternatives. However, if you are a beginner using and understanding the program might take a little while.
Coinbase: Best FTX Alternative for the US traders
Coinbase is known to be the largest crypto exchange based in the United States of America. One of its top features is also high-speed transactions and the amount of crypto assets you have at your disposal on Coinbase is very vast. However compared to other crypto exchanges, their costs are slightly higher. Coinbase has also rolled out programs like Coinbase Pro and Coinbase One that come with added features. It is convenient to use the platform and also allows easy crypto-to-crypto transactions.
Uniswap: Best DEFI Alternative to FTX
Uniswap is a DeFi peer-to-peer exchange platform for cryptocurrencies. It is based on the Ethereum blockchain and aims at creating a platform that has low censorship and high security levels. Currently, only three versions of the Uniswap protocol are available, V1, V2 and V3. The best parts about Uniswap are that you don’t need KYC for it and you can earn cryptocurrency with liquidity mining. Unlike mainly other platforms Uniswap is very user friendly however it doesn’t accept fiat money and also charges a gas fee.
DYDX: Best Derivative FTX Alternative Crypto Exchange
Founded by Antonio Juliano, DYDX is a Starkware-based exchange platform that has a gasless onboarding regulation in effect. They offer leverage to users and support more than 30 cryptocurrencies like Bitcoin, Ethereum, Avalanche, etc. Like Uniswap even DYDX doesn’t require you to be KYC verified and also has stop-loss order and limit-order features. DYDX is known for paying users rewards for just trading on the platform which is a great incentive. The only cons are that they don’t have APY-generating features and also lack the availability of fiat support.
Hashflow Protocol: New Derivative Crypto Trading Platform
Hashflow is a no-slippage and MEV-secured layer zero DEX (Decentralized Exchange) protocol. The exchange offers nominal gas prices and is very simple to use. Hashflow doesn’t need any external bridges and also doesn’t levy any commission on token swapping.
Read our detailed article to learn more about Hashflow: Hashflow Protocol (HFT) to be Listed on Binance: Should you buy?
Even though there seems to be a negative sentiment spread across the entire crypto world, the time is not to lose hope. We need to find better and safer alternatives for our crypto requirements and do all the necessary digging to find the best possible exchange alternatives.
Read more about the FTX and Binance deal here: Binance FTX Deal Called Off: Know Why and What happens Next?