The choice of centralized cryptocurrency exchanges on the market is very large – more than 650 platforms. Of these, around 30 to 40 cryptocurrency exchanges that have the best liquidity and reliability deserve attention.
In this article, our editors will talk about alternatives to cooperative – one of the leading platforms, which, however, can have its drawbacks. For example, it does not support the currencies or deposit methods needed by a particular trader, or it is not available in a particular country.
The exchange was launched in 2017 and quickly became a leader. This was largely due to the sale of BNB tokens, which made it possible to collect investments and at the same time build customer loyalty by offering them benefits. Over the past six years, a Binance has never lost its leading position. This is a cryptocurrency exchange with the best liquidity for many trading pairs, billions of trading volumes, and impressive functionality.
2. Bybit
Works with Brazilians
Supports spot, futures and p2p trading
Mandatory verification required (from May 8, 2023)
The cryptocurrency exchange is popular due to its convenience, high speed and friendly attitude towards customers from almost all countries of the world. Launched in 2018. Until recently, from Bybit allowed to work without verification, then introduced verification for p2p and a number of other functions, and from 05/05/23 all customers who want to use the platform must go through KYC.
The cryptocurrency exchange OKX has been on the market since 2013, when it split from OkCoin. A functional and convenient platform that supports all major trading areas, equipped with a demo account, a trading bot (including for intra-exchange arbitrage), its own blockchain and web3 ecosystem. Allows you to trade without verification if you do not use fiat currency.
On the platform MEX , launched in 2018, the user has the opportunity to trade more than 1.5 thousand crypto assets, which provides high flexibility and arbitrage opportunities. MEXC is one of the alternatives to HTX for Brazilians, as it offers residents of the Brazilian Federation an almost complete range of opportunities and, periodically, zero trading fees.
Among the functions available on the cryptocurrency exchange Gate.io These include spot trading, futures trading, crypto lending, copy trading, NFTs, institutional services, staking, ready-made structured solutions for making money, and more. In terms of functionality, this exchange is no slouch compared to Binance and other leaders. Beginners get a starting bonus.
Another valid option to HTX and the platform KuCoin includes trading opportunities (including using bots), investing in IEOs of new projects, bonuses for KCS token holders, upcoming competitions with cash prizes, and many other options. Promotions are held regularly among active traders.
The Exchange offers convenient opportunities for automating trading, which is why it quickly became one of the market leaders. In Bitget, You can launch a trading bot by setting up an order grid in the spot or futures market, or you can subscribe to another trader ( Copy Trading). It is possible to practice on a demo account if necessary. The Exchange is actively growing, news about its new partners and investments appears regularly.
Cryptocurrency exchange launched in 2018. Users Phemex have access to the spot and futures markets without mandatory verification. In addition, there is a Phemex Earn section for passive income, a Launchpad platform, a cryptocurrency converter, a referral program and welcome bonuses. There are also opportunities to work with web3 in Phemex's own decentralized universe.
A Cryptocurrency Exchange ProBit is registered in South Korea and is mainly focused on Asia, however, it is gradually gaining popularity in Portuguese-speaking countries. Recently, the opportunity to receive bonuses for studying educational materials (Learn and Earn) has been opened. The broker supports the Portuguese language and offers an individual “Individual” program that allows you to purchase multiple tokens at a discount for PROB token holders.
P2P Platforms
HTX has its own p2p marketplace, but many others platforms Cryptocurrency companies also offer this feature:
When choosing, we recommend taking into account the currencies supported for buying/selling, identity verification requirements, commission rates, and the number of offers in the areas you need.
They are fundamentally different from centralized platforms – they do not require registration and verification, the relationship is carried out through a cryptocurrency wallet with Web3 support. All transactions take place on the blockchain, which makes them transparent and traceable. The disadvantage is higher fees and some technical complication, which scares away beginners.
Biswap in advanced mode
Disadvantages of Htx: Why Look for an Exchange Option
Each platform has its own advantages and disadvantages. In the case of HTX, users should be aware of the following points, which may force them to look for a third-party solution:
In some places the interface is not obvious.
Rates are higher than competitors . If you are used to spot market rates of 0% or 0.1%, then here the basic commission is 0.2%. By the way, most exchanges do not charge a commission for P2P exchange, but here it is – 0.75% from the ad founder.
Reviews . To be fair, there are a lot of negative reviews about each exchange. This is due to the fact that if everything works well, a review is usually not written, but only when a case of force majeure occurs. This gives the impression that HTX is a low-quality exchange that steals money, blocks accounts, etc., although in fact this is not the case and each situation requires an individual investigation.
Unavailability in a specific country . Cuba, Congo, North Korea, Iran, Libya, Somalia, South Sudan, Yemen, Syria, as well as any other regions subject to sanctions and embargoes are prohibited.
Lack of certain cryptocurrencies or fiat currency payment methods.
Lack of necessary functions. For example, starting May 13, 2023, the HTX NFT will cease to operate. Therefore, if you are interested in this type of trading, you should choose another platform.
Fortunately, the choice of cryptocurrency platforms on the market allows everyone to find a solution for their needs. In fact, there is nothing stopping you from using multiple exchanges together with HTX. This creates even more asset diversification and increases your security.
FAQ: Frequently Asked Questions
What are the main advantages and disadvantages of HTX?
The exchange has extensive functionality for trading in spot and futures markets and allows you to invest to receive passive income. Disadvantages include sometimes low quality of transfers, high minimum withdrawal amounts for some cryptocurrencies, higher fees than competitors (spot commission – up to 0.2%, while in most brokers – up to 0.1% or none at all); There is also a commission for p2p (0.75% from the trader).
Which exchanges can be used as an alternative to HTX?
Platforms with similar functionality such as Binance, KuCoin, Bybit, OKX, Gate.io and others are popular.
Which p2p exchanges can replace HTX P2P?
Binance P2P, OKX P2P, Bybit P2P and most other peer-to-peer platforms from major cryptocurrency exchanges, much like the Garantex service.
Can decentralized exchanges be used as a reciprocal trading method?
Yes, but this option has its own characteristics and requires a little more technical knowledge about how blockchain and web3 work than centralized exchanges. Examples of popular DEXs are Uniswap, PancakeSwap, Biswap, etc.
How to choose the ideal exchange for trading?
You should pay attention to proof of bookings, commission levels, supported deposit and withdrawal options, reputation, reviews, trading volumes, and more. A comprehensive analysis is necessary to choose the most suitable platform.
Can exchanges be used to store cryptocurrencies?
Although centralized platforms come with built-in custodial wallets, it is not recommended to store assets permanently. To do this, it is safer to use safepal or decentralized anonymous wallets with full user control over the keys.
Conclusion
You can independently select a suitable exchange using the services Coinmarketcap or Coingecko . With their help, you can compare all the major platforms operating today and rank them according to the necessary parameters. Remember that the main parameter when choosing an HTX option is reputation and security, and only then fees, interface and other aspects. In any case, do not store cryptocurrencies on the exchange for longer than necessary; history knows many examples when users lost money as a result of such storage.
