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5 Cryptocurrency exchanges to watch out for in 2022

By Joy Dumasia

January 12, 2022

  • 2022
  • Binance
  • Bitfinex
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Cryptocurrency exchanges, or digital currency exchange, is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. Exchanges may accept credit card payments, wire transfers or other forms of payment in exchange for digital currencies or cryptocurrencies. 

The creators of digital currencies are often independent of the digital currency exchange that facilitate trading in the currency. In one type of system, digital currency providers keep and administer accounts for their customers but generally do not issue digital currency directly to those customers. Customers buy or sell digital currency from cryptocurrency exchanges, which transfer the digital currency into or out of the customer’s account. Some exchanges are subsidiaries of DCP, but many are legally independent businesses. 

The following are 5 Cryptocurrency exchanges to watch out for in 2022:

The Binance Exchange is a leading cryptocurrency exchange founded in 2017, features a strong focus on trading. Binance offers crypto-to-crypto trading in more than 500 cryptocurrencies and virtual tokens, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own token Binance Coin (BNB). 

Recently, IBS Intelligence reported that Circle, a global internet finance firm that provides internet-based payments and financial infrastructure to businesses of all sizes, and the principal operator of USD Coin (USDC), recently announced the listing of native USD Coin on TRON (TRC20 token) on Binance – the world’s leading cryptocurrency exchange platform.

As a cryptocurrency exchange founded in 2012, Bitfinex has always been at the forefront of technological innovation in digital asset trading. The Bitfinex team has gained invaluable experience in blockchain technology while the platform has cemented its position as the go-to place for digital asset traders and institutions to trade. Bitfinex provides state-of-the-art digital asset trading services for users and global liquidity providers.

IBS Intelligence reported that Bitfinex, a digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers, has launched Increase Position and Bitfinex Borrow features for paper trading to enable users to explore and better understand these features in a simulated market environment without the use of real funds.

Bitstamp’s Crypto-as-a-Service, any bank or financial institution can enable its customers to buy and sell cryptocurrencies effortlessly. There are no direct fees for staking and unstacking assets. However, they commission the total reward pool collected by staking nodes before distributing rewards to individual customers. This commission covers all costs and fees associated with staking and is currently set at 15.00% of total rewards collected by staking nodes.

IBS Intelligence reported that Luxembourg-based Bitstamp announced the appointment of Julian Sawyer as its new CEO. Sawyer will be taking over from Nejc Kodrič, the founder who remains an integral part of the company but has transitioned to a non-executive role as a member of our Board of Directors. He will continue to provide direction play an essential role in the company’s future.

Founded in 2012, Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like bitcoin, ethereum, and litecoin. Disrupting the industry by having the vision to bring more innovation, efficiency, and equality of opportunity to the world by building an open financial system and making digital currency accessible and approachable for everyone. 

Recently, IBS Intelligence reported that Coinbase announced the launch of its marketplace for non-fungible tokens (NFTs). Prospective users will join the waiting list to use Coinbase NFT, a decentralized marketplace for NFTs that will make minting, purchasing, showcasing, and discovering NFTs easier than ever.

A globally recognized competitor with over 17 million users from around 100 countries worldwide. This large client base offers an excellent social trading platform and an opportunity for more inexperienced users to observe and imitate advanced investors. eToro requires a minimum purchase of $25 for each cryptocurrency, meaning investors may find it difficult to spread their cryptocurrency around if they only want to dabble in the industry.

Recently, IBS Intelligence reported that Backbase, an Engagement Banking technology providerannounced that it has partnered with eToro. This multi-asset investment platform empowers people to grow their knowledge and wealth to enhance eToro’s digital onboarding capabilities and back-end compliance infrastructure.

ALSO READ: Blockchain Technology in Financial Services Report 2020

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