Pay Attention to These Centralized Coins: The Next Big Moves for Traders

Despite the increased popularity and adoption of cryptocurrencies, centralized exchanges remain significant places in trading and investing. Some of the platforms that have attracted people’s attention are Bitstamp, Bybit, KuCoin, Coincheck, and Kraken. These exchanges have carved a niche for themselves as major platforms for digital assets trading each with a different coordination that presents opportunities for traders.

Bitstamp: A Pioneer in the Industry

Trading Volume:$156,747,907

Bitstamp is one of the few cryptocurrency exchanges that has been in business for several years. Overall, having established a strong market presence today as an exchange aimed at institutional clients, Bitstamp’s recent move into new markets makes it a notable venue for traders.

Bybit: Derivatives Powerhouse

Trading Volume:$4,480,338,069

As compared to its earlier competitors, Bybit is relatively newer to the market but has gained a considerably strong position among the derivative traders. The exchange has developed an innovative product such as a perpetual contract and has a friendly user interface which has led to an increase in the number of users. Due to this, Bybit has been deemed a company to watch in the months to come since it intended to develop and improve its products and also diversify its market.

KuCoin: Diversifying Beyond Traditional Trading

Price:$8.09

Trading Volume:$104,636

KuCoin has established itself as a unique platform with a focus on services other than spot trading. A lending platform, offering staking services, and a focus on small and mid-cap cryptocurrencies have been popular amongst traders. Another factor that has led to the growth of KuCoin is the ability to provide for both new and complex clients.

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Coincheck: Rebuilding Trust

  Trading Volume: $67,998,115

Suffering from security issues in its formative years, Coincheck has made considerable efforts to regain consumer confidence. Since then the Japanese exchange has grown its services further, with the addition of an NFT marketplace. Due to its ability to persist and evolve in response to market changes, Coincheck has become a significant actor in the Asian cryptocurrency market.

Kraken: Emphasizing Security and Regulatory Compliance

Trading Volume:$605,733,510

Kraken has been praised for its focus on security and adherence to the rules since its inception. The exchange has aggressively moved into new markets, and it has been increasing its targeted services to institutional investors. It means that Kraken is one of the companies to watch in the context of the ongoing transformation of the financial sector by digital assets.