New cryptocurrency exchanges continue to join the ranks. According to Coin Market Cap, this amount is 4,087 unique cryptocurrencies and over 300 registered exchanges. With hundreds of options to choose from, it might be easy to overlook the new players in the cryptocurrency space for industry leaders that have been around since the early days of bitcoin.
This is unfortunate since many new exchanges have taken note of some of the current platforms’ issues and have released what are believed to be superior offerings.
Unfortunately, determining if a new exchange is worth trying is another question altogether. With many options at your disposal, three of the best new (or newer) cryptocurrency exchanges to try in 2021 have been outlined below. This list has been compiled based on availability in geographical locations, feature offerings, fees, platform usability and trading volume if applicable.
CryptoExchange.com offers the first-ever crypto escrow marketplace to safely exchange any currency. As a new exchange, the platform excels in providing 24/7 email support and extended hours from Monday to Friday to answer any questions about using the platform.
With a more personalized experience, CryptoExchange has since become comparable to larger exchanges that may require users to wait a few days (to weeks) to hear responses on submitted concerns.
CryptoExchange offers geographical diversity, allowing users to deposit and withdraw funds easily from anywhere in the world. New traders can also get started quickly, using either a debit or credit card to make their first purchase for bitcoin or altcoins such as Ripple (XRP) or Litecoin (LTC).
With fees now varying (sometimes upwards of 0.9% on each transaction), prices are advantageous at 0.1% on every trade, with an added benefit of a 0.01% rebate on limited partner (LP) orders.
The platform is unique in its offering as the first-ever cryptocurrency escrow service platform. Knowledgeable escrow officers conduct transactions that will safeguard both parties’ funds by storing them in a secure location until both the buyer and seller have been verified.
Another platform to keep on your radar is Biki. Biki is a cryptocurrency exchange based out of Singapore and now offers over 150 cryptocurrencies and 280 trading pairs. Its mission is to provide the safest, most stable, and most effective cryptocurrency trading platform. BiKi.com has received nearly 10M USD of funding from notable executives such as the co-founder of Huobi, Du Jun, and Genesis Capital Zhu Huai Yang.
This centralized exchange has made their projects’ growth their underlying mission, pledging to use 100% of the fees they receive to repurchase and burn their token until supply is decreased to 100 million.
This fee amount is 0.15% for token-to-token trading with minimum withdrawal amounts and fees, which fits in the average range expected by other cryptocurrency exchanges of its size. Since its opening in 2018, BiKi.com claims that over 200,000 users are actively participating on their platform.
3. Bitthumb Global
Bitthumb Global was launched in May 2019 as the international platform to Bithumb Korea. The co-founder, Javier Sims, claims to have onboarded over a million users since this date.
Bitthumb Global supports both cryptocurrencies and fiat currency and is active in 124 markets. The platform offers security to new users through Know Your Customer (KYC) verification and the assurance that user systems across various countries all meet the local area’s requirements.
Making Your Cryptocurrency Exchange Selection
To determine which, if any of these platforms are a good match for your trading style, it is essential to select which criteria are the most valuable to you as a trader. Each exchange listed has a unique offering that may be a match to the requirements you have outlined.
That said, when comparing newer exchanges, it is also important to remember that cryptocurrency exchanges, in general, are notorious for inflating their trading volume with inaccurate numbers to attract users to their site. Research on sites other than the exchange’s website itself can help you gain a more unbiased look into each platform.