Three New Exchanges You Need to Check Out in 2020

Three New Exchanges You Need to Check Out in 2020

Today’s cryptocurrency exchange scene is dominated by a small number of industry heavyweights, many of which have been breached in the past, or lack industry-leading features, but still continue to gain prominence due to their extensive marketing budgets and first-mover advantages.

As we’ll soon see, bigger isn’t always the best when it comes to cryptocurrency exchanges, and there is now a new crop of platforms that are hot on the heels of the industry juggernauts — offering features and markets that even some of the largest exchange platforms would struggle to match.

Here are our picks for the top three.

Bityard

Bityard is a hedge-fund backed cryptocurrency contract exchange platform that exploded onto the scene earlier this year with the launch of its deceptively simple range of cryptocurrency derivatives contracts.

Despite being a new entrant to the cryptocurrency trading scene, Bityard stands apart from the competition thanks to its 30-second registration process and extremely intuitive user interface and trading options — which makes cryptocurrency derivatives accessible to anybody. In total, the platform offers ten different contracts, including those for Bitcoin, EOS, Tron, Chainlink, and several other popular cryptocurrencies.

These contracts can be traded with up to 100x leverage, giving traders the opportunity to open both long or short positions that are much larger than their balance — and multiply their profits by the same factor.

The platform features an innovative daily mining game that allows users to ‘mine’ for small amounts of a variety of cryptocurrencies each day, including Bitcoin, Ethereum, Tether, and the platform’s native utility token BYD.

Bityard also stands out as one of the most regulated platforms around, and is licensed in Singapore, Estonia, Australia, and the United States. This gives users the confidence that they’re dealing with a well-reputed, accountable platform that is operating legally. This is surprisingly rare in the cryptocurrency exchange space.

This, combined with its forward-thinking approach to security, impressive customer support, and unique daily mining incentive makes Bityard an ideal trading platform for both beginner and advanced traders.

StormGain

StormGain is another up-and-coming cryptocurrency exchange platform with a major focus on cryptocurrency derivatives.

Launched back in 2019, StormGain has quickly risen the ranks to become one of the most popular derivatives exchange platforms thanks to the wide-range of industry-leading features it offers. For one, it offers an incredible 200x leverage for its BTC/USD contract, giving traders the opportunity to open huge positions with even a small starting balance.

 

StormGain recently made the news after it became the official sleeve partners of Newcastle United Football Club, and launched its own monthly Answer Time YouTube series with the Newcastle Utd FC players.

It isn’t just its impressive partnerships and industry-leading leverage features that set StormGain apart from the competition either. StormGain currently stands out as one of just a handful of exchange platforms that provide a fixed interest rate on all cryptocurrency deposits on the platform. This currently sits at 10% APR for all assets supported by the platform — making StormGain one of the best places to turn a profit, one way or another.

Unlike many exchanges, StormGain features a fully functional demo platform that can be accessed on desktop or mobile, giving traders the opportunity to hone their skills or test their strategies before trying them out for real. Combined with its useful market signals, this makes StormGain an attractive platform for newer and learning traders.

Binance DEX

One of the most common gripes with most cryptocurrency exchanges is that they’re centralized, custodial platforms. This essentially means the exchange operates on a centralized server that is responsible for matching your orders and that you need to keep your funds in a wallet controlled by the exchange.

This issue was essentially solved by the development of decentralized exchanges (DEX), but these have largely failed to provide the user experience traders want since most DEX platforms typically lacked liquidity and featured a clunky user interface — until now.

Almost all of the major issues with decentralized exchanges were solved by the Binance DEX, a platform that features the same look and feel of the popular Binance exchange platform but manages to offer impressive liquidity for a DEX.

Despite launching just over a year ago, the Binance DEX already occupies the position of the world’s most liquid decentralized cryptocurrency exchange by trading volume. The exchange offers well over 100 different trading pairs and currently has almost 300,000 users, making it one of the most comprehensive DEX platforms in existence.

With trading fees of just 0.1%, or potentially as low as 0.04% if paying in Binance Coin (BNB), the Binance DEX is one of the cheapest cryptocurrency exchange platforms around. Secure, liquid, and cheap — what’s not to like?

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Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Author: Casper Brown

I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.

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Casper Brown 239 Articles

I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.

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