In today's article, I will share with you about the Top 6 Crypto exchanges in the world that are interested and used by the Vietnamese community. With these exchanges, you can comfortably trade, buy and sell with many different cryptocurrencies.
Each exchange has its own advantages and disadvantages, so I will give details for you to have an overview to choose the exchanges that are the most suitable for you.
Along track posts!
- 1 Top 6 most prestigious Bitcoin and Crypto exchanges in the world
- 2 Binance exchange
- 3 Huobi Global exchange
- 4 Bittrex exchange
- 5 Gate exchange
- 6 KuCoin exchange
- 7 BitMax exchange
- 8 Summary
- 9 F
Top 6 most prestigious Bitcoin and Crypto exchanges in the world
Coin98 has posted articles on how to register an account, and how to use, as well as more details of the Top 6 Bitcoin and Crypto exchanges. You can refer to the below articles:
- Binance: What is Binance? How to use Binance Exchange?
- Huoban of: Huobi: Guide to register and trade on Huobi.pro
- Bittrex: What is Bittrex Exchange? How to use Bittrex Exchange?
- Gate.io: What is Gate.io? How to use Gate.io Exchange?
- Kucoin: KuCoin: Guide to register and trade on KuCoin
- BitMax: What is BitMax? How to register and use BitMax from AZ
Binance is the leading Bitcoin & Crypto exchange today. The word "Binance" stands for Binary & Finance.
You must be too familiar with the name Changpeng Zhao (or more commonly called as CZ). In July 07, CZ called for the first time for Binance exchange through ICO and earned 15 million USD. After more than 2 years of development, you can see Binance is a big name in the Crypto market.
Binance or CZ is also considered as one of the "captains" leading the cryptocurrency market, especially with IEO - token sale right on the exchanges.
Featured article: What is IEO? A Complete Guide to IEO Investments
I guess most of you here have accounts on Binance. If you are a newcomer to the Crypto market, Binance is definitely a name you can not ignore when choosing to trade Bitcoin as well as other Crypto.
Highlights of Binance exchange:
- The ICO in July 07 helped Binance raise $ 2017 million.
- 20,000 registrations in the early days.
- Daily trading volume reaches over 2.4 billion USD.
- Handles over 1.4 million transactions per second.
- Traffic to Binance from Vietnam is ranked 4th, accounting for ~ 6%.
Maybe you are interested in: What is Binance? How to use Binance Exchange?
Advantages of the Binance exchange
The number of trading pairs is high
Currently on Binance, there are 171 coins with 580 trading pairs. This number is quite comfortable for people who want to trade multiple coins on the same exchange.
Real trading volume
Binance is one of the top exchanges with high real trading volume as reported by Bitwise in March 03.
Vietnamese is one of the languages supported by Binance, and Binance has a suitable interface for Vietnamese people.
Good commission regime
You can enjoy up to 40% trading fee earned from inviting friends to join Binance through your referral link.
Binance can also be considered as the first exchange to take the lead in awarding commissions for referrals.
Low transaction fees
The transaction fee on Binance is currently only about 0.1% for both taker and maker fee. And it will decrease even more when users use BNB to pay for trading fees.
Compared to many other exchanges, this is the lowest fee, which is best for users to trade.
BNB - its utility coin
It is the coin of an exchange that has the most uses.
The ROI or profitability ratio of BNB coin compared to the time of ICO is the most obvious number that shows clearly the strength of this coin.
Diverse forms of trading
All trading orders from basic to advance ones are available on Binance.
Currently, Binance has supported spot trading, futures trading, margin trading, market, limit, stop-limit, and OCO.
Without KYC, you can withdraw 2 BTC per day
People who have just registered an account on the exchange, but not completed KYC are still able to trade and withdraw 2 BTC per day.
SAFU Insurance Fund
SAFU is Secure Asset Fund for Users - risk insurance fund for users. Binance will use 10% of the transaction fee collected to put into SAFU fund.
In case of the exchange hacked, which affects the user account, Binance will use the money from this fund to protect users. Most recently, Binance was hacked with API in May 05. The total amount of assets up to 2019 BTC has been deducted from SAFU fund to pay to the damaged user.
Binance is not just an exchange
This is my favorite thing about this exchange. Binance is more than just a crypto exchange. They can be considered as a complete Crypto ecosystem including Biance.com (Crypto exchange), Binance DEX - decentralized exchange, and Binance Chain - Binance's own blockchain.
It was Binance that recently created a wave of "migration" to Binance Chain with the standard BEP-1. They also have their own official wallets, Trust Wallet and Binance Incubators, investing in Blockchain projects.
Besides, it is impossible not to mention the ICO trend - Binance Launchpad , which is initiated by Binance. Besides, the latest products like Binance Futures, Binance Lending, etc. promises to create a new trend for the community.
To better understand the ecosystem of Binance, you refer to the articles of Coin98: Learn about Binance's ecosystem from AZ
Cons of Binance
Often targeted by hackers
Because it is a large exchange, Binance is always in the sights of many hackers.
After more than 2 years of launching, Binance has been attacked twice. The first time was in July 2, when the hacker took away 7 BTC. And the last time a hacker took advantage of the API attack vulnerability, and took away 2018 BTC.
OTC transactions has not been available for Vietnam yet
Huobi Global exchange
Huobi is the leading Bitcoin and Crypto exchange today. Huobi exchange was established in 2013 in China.
In 2017, when the country issued a ban on Crypto and ICO exchanges, Huobi moved to expand in South Korea, Japan, the US, etc.
Maybe you are interested in: Huobi: Guide to register and trade on Huobi.pro
Advantages of Huobi exchange
Support multiple coins
Currently, Huobi allows trading with 224 coins, and 538 trading pairs. You can freely choose to trade many altcoins on Huobi.
HT - its utility coin
HT is the Huobi exchange's own coin.
HT is used to pay/reduce transaction fees, as well as to participate in other products and services on Huobi.
Especially from the beginning of 2019, the price of HT has increased by more than 5x (the highest price).
Useful articles for you: What is Huobi Token (HT)? All about Houbi Token virtual currency
There are many different forms of trading
Huobi offers spot trading, margin trading, futures and OTC trading.
OTC transactions with VND
This is one of the few international exchanges to support OTC trading directly with Crypto for the Vietnamese community. That is, you can use VND in your bank account to buy Crypto directly.
The exchange has many forms to attract users
Besides the familiar types of transactions, Huobi also caught up with the IEO trend with Huobi Prime.
Besides, the exchange also launched the FastTrack program, which allows the community to use HT to vote for projects that users want to list on the exchange. These forms directly use HT tokens, thereby affecting its price.
The interface with Vietnamese language
Currently Huobi's Vietnamese interface has been updated and is easy to use for Vietnamese users.
In particular, traffic from Vietnam to Huobi Exchange is ranked 2nd, and accounts for more than 8% of the total global traffic.
Disadvantages of Huobi exchange
The transaction fee is quite high
The trading fee on Huobi is currently 0.2% for Taker/Maker fee. This is a relatively high transaction fee compared to many other exchanges.
People who use HT as a transaction fee will be reduced to only 0.07%.
Bittrex is a Bitcoin and Crypto exchange based in Seattle, USA. The exchange was established in 2013.
Currently, the traffic to Bittrex from Vietnamese accounts for nearly 7%, and it is ranked 3rd.
Maybe you are interested in: What is Bittrex Exchange? How to use Bittrex Exchange?
Advantages of Bittrex Exchange
Real trading volume
As reported by Bitwise in March 03, Bittrex and Binance are exchanges with good real trading volume.
Bittrex is one of the best security platforms at the moment; they have never been hacked or any problems.
Disadvantages of Bittrex Exchange
As a US-registered exchange, Bittrex must comply with many strict regulations of this country. Therefore, sometimes you will have some difficulties in registering or withdrawing on this exchange.
The interface is difficult to use
During the experience of using Bittrex, I found it very difficult to use, and the interface was not intuitive. Open/History Order display areas, and trading orders on the market are difficult to see.
High transaction fee of 0.25%
The transaction fee of 0.25% is high compared to many other exchanges at only 0.1%.
There are not many trading options on Bittrex
Currently, the exchange only supports crypto-crypto spot trading with Limit orders and Stop-Limit. This can be considered a relatively big drawback of this exchange. Some other exchanges like Binance or Huobi all have trade margin or futures trading options.
There are no its utility coin
I suppose that this may be due to problems related to the US laws ,so they cannot issue their own coin. Hopefully, in the future, Bittrex will soon have its own utility token.
No phone apps
Gate.io is one of the oldest exchanges in China. The exchange was founded in 2013 with the first domain name - Bter.com, under the leadership of CEO Lin Han.
In 2017, China introduced a strict regulation on exchanges and ICOs, and Bter.com changed its name to Gate.io.
Maybe you are interested in: What is Gate.io? How to use Gate.io Exchange?
Advantages of Gate Exchange
In fact, Gate Exchange (formerly Bter.com) was once stolen by 7,000 BTC. Then, they have tightened security issues of the exchange to protect users.
In addition to the password-logining layer, users also have the transaction and withdrawal password layer
GT - its utility coin
GT is its utility coin that Gate launched in April 04.
There are many forms of trading
Gate currently not only has spot trading for crypto-crypto, but also supports margin trading, futures trading, and margin lending/borrowing.
The exchange has many services that attract users
Not only catching up with the IEO 2019 trend, Gate also launched a number of its own services such as HODL & Earn, Margin Lending, Borrowing, etc. These services will help the exchange attract users as well as increase demand of GT token.
Disadvantages of Gate Exchange
The transaction fee is quite high
Trading fee for maker/taker is 0.2% as high as Huobi.
Complex KYC process
The exchange has been hacked, so the review and documentation requirements for KYC will cost users more time.
Floor Gate has supported Vietnamese
However, according to my experience, this Vietnamese interface is not good. Many words are still translated quite unnaturally.
Those who do not like this interface can use English interface to be more comfortable.
KuCoin is one of the Chinese exchanges to be launched at the same time as Binance.
Although not growing as fast and as strong as Binance of CZ, KuCoin is currently one of the exchanges interested by the Vietnamese community.
Maybe you are interested in: KuCoin: Guide to register and trade on KuCoin
Advantages of KuCoin exchange
Low transaction fees
Currently, trading fee on KuCoin is 0.1% for Maker and Taker, which is similar to Binance. This can be considered as the currently lowest transaction fee.
Secure cold wallet storage
According to my research, KuCoin has a cold wallet system that securely stores users' trading accounts. Therefore, you are somewhat more reassured when trading on this exchange.
Receive bonus when owning its utility token - KCS
KCS (KuCoin Share Token) differs from other exchange's coins in that the holders of KCS coins will receive a Bonus deducted from 50% of the exchange fee collected.
Useful articles for you: What is KuCoin Shares (KCS)? Complete focus on virtual currencies KCS
There are many programs that attract more users
KuCoin also has IEO Spotlight, which helps to sell tokens on the exchange using KCS.
In addition, the exchange also launched various programs such as Pool-X, or KuMex (KuCoin's derivatives exchange), and Soft Staking - allowing users to receive bonuses from the project while holding and trading 1 coin on the exchange.
Disadvantages of KuCoin exchange
There have been no margin trading
Currently, apart from spot trading and KuMEX (derivative transaction), KuCoin has no Margin transaction. This is KuCoin's shortcoming compared to other exchanges.
Fake trading volume
According to Bitwise's report, KuCoin is also one of the exchanges with large fake trading volumes.
In addition, other large and reputable exchanges in the world also have Coinbase - this is the largest and reputable exchange in the US, with a real trading volume.
However, this exchange currently only serves the US and European markets, not supporting transactions for the Vietnamese market. Hopefully, in the future, they will expand to other markets, and support Vietnamese users.
BitMax is a Bitcoin and Crypto exchange based in Singapore. The BitMax exchange was established in July 07, and until the beginning of 2018, the BTMX coin was officially listed, which drew much attention from the community.
It is reported that Bitmain is the one to support for BitMax behind to compete directly with Binance and BitMEX.
Maybe you are interested in: What is BitMax? How to register and use BitMax from AZ
Advantages of BitMax Exchange
Low transaction fees
Currently, the transaction fee on BitMax is only 0.04% for maker and taker. This price is almost the cheapest at present.
Utility token - BTMX - with many services provided
BitMax is not just Crypto exchanges. On BitMax, there are also other services, for example, BitTreasure - a lock coin program that gives interest for users.
This form is usually for the newly-listed coin, and the card-buying program with BTMX to receive the exchange's incentives.
Providing many of these services will help to attract more users to participate, and directly impact the demand for BTMX.
Useful articles for you: What is BitMax Token (BTMX)? Complete focus on virtual currency BTMX
BitMax allows trading margin with different trading pairs.
When it was just launched, many people still compared BitMax as the combined version of Binance (at that time, there was only spot trading, and no margin trading) & BitMEX (the exchange specialized in Margin trading).
There is a mobile application
BitMax now has enough apps for mobile devices.
Disadvantages of BitMax Exchange
Transaction mining mechanism
At the beginning, the exchange has a Transaction mining mechanism. That is, the more users trade, the more its exchange's coins are unlocked.
However, in September 09, BitMax announced the termination of this program. In my opinion this is good news for BTMX because its unlocking number is no longer dependent on transaction volume.
The exchange has not supported Vietnamese language yet
In the above article, I have introduced to you top 6 of the world's leading Bitcoin and Crypto exchanges that support Vietnamese users.
In the upcoming articles, I will introduce and compare more details about exchanges that feature margin trading, derivative transactions, futures contracts, etc. so that you can know better and have more options when participating in this market.
Which of the 6 exchanges do you currently have an account with? What are the exchanges you trust to buy and sell Bitcoin daily?
Feel free to comment below, do not forget to join the chat channels, discuss with Coin98 at Facebook & Telegram!
Goodbye and see you again in the next article!