The cryptocurrency trading space has grown rapidly over the years due to several factors. Although many traders are still not too familiar with virtual currency exchanges, there are considerably more professional trading firms and individuals who are actively trading crypto-assets.
During the past 5 years, the digital currency trading market has attracted a large amount of capital. While most traders still prefer to engage in basic spot trading, crypto derivatives are also gaining momentum. In this guide, we shall examine the top 5 most trustworthy crypto exchanges operating in the blockchain and digital asset industry.
MultiBank
MultiBank Group was launched back in 2005 to bring regulation and safety to the financial services sector. Over the years, the team began supporting a trusted trading platform. The service provider has steadily grown into one of the most prominent financial derivatives institutions, holding over 14 operational licenses globally. The business also maintains around 25 international office locations, serving more than 1 million clients, while consistently reporting an average daily trading volume of over $12 billion. This is notable because established centralized exchanges like Binance are averaging around the same, meanwhile, Coinbase only handles about $2 billion of trading volume daily.
Furthermore, MultiBank Group’s platform is built on solid legacy foundations and has regularly led the industry as a derivatives broker, gaining acknowledgment as a well-regulated derivatives broker. With the launch of MultiBank.io, the firm is entering the crypto-assets ecosystem, while being mindful of the present state and the lack of proper regulations within the nascent industry. However, the overall goal remains clear – to establish an ecosystem and enhance the crypto sector by leveraging their reputation for security and regulations with the legacy they worked hard to establish in the traditional derivatives sector.
It’s worth noting that MultiBank has achieved commendable milestones, thus firmly establishing its position as one of the major financial derivatives platforms. With a paid-up capital of more than $322 million, the Group has reportedly achieved industry records with solid financial performance. MultiBank has also expanded its presence across multiple jurisdictions, acquiring regulatory approval and handles large trading volumes in a frictionless manner.
BitOasis
BitOasis also offers a seamless crypto trading experience for novice and more experienced traders. Launched in Dubai, BitOasis is one of the MENA region’s most trusted cryptocurrency exchanges for Bitcoin (BTC) and 60 other virtual currencies. BitOasis customers are able to trade using fiat currencies such as AED and SAR.
Established back in 2015, BitOasis is a key player in the Middle East’s fast-evolving crypto sector, currently serving as a secure platform for new crypto market participants and professional traders. The management at BitOasis aims to support a platform that’s trusted by traders, institutions, and authorities across the region and globally.
They intend to enable the largest digital asset exchange and payments infrastructure platform in the Middle East and other areas. The team also focuses on ensuring regulatory compliance and offering the ability for their clients to easily purchase, sell and trade crypto-assets via a secure platform.
CoinMENA
With head offices located in the Kingdom of Bahrain, CoinMENA is a Sharia-compliant crypto trading platform that is reportedly licensed and regulated by the Central Bank of Bahrain. Through this high-performance platform, users are able to buy, sell, store, and accept virtual currencies securely, as well as deposit and withdraw in their local fiat currencies.
CoinMENA’s management notes that they’re one of the few regulated crypto asset service providers in the area. The platform recently acquired a Virtual Asset Service Provider (VASP) license for VA Broker-Dealer services from Dubai’s Virtual Assets Regulatory Authority (VARA).
This new license will allow CoinMENA to operate and provide its services in and from the Emirate. CoinMENA remains focused on offering competitive fees, high levels of liquidity, and an educational approach. The exchange also aims to be one of the most intuitive and trusted digital currency exchange platforms in the area.
Bitstamp
Bitstamp is well-known for being one of the longest-running crypto exchanges, regularly supporting the Bitcoin economy since 2011. With an established track record and innovative approach to the crypto sector, Bitstamp offers a secure and transparent platform to more than 4 million clients and enables partners to gain access to crypto markets via robust infrastructure.
Earlier this year, Bitstamp revealed that it secured registration as a crypto-asset service provider from the UK’s Financial Conduct Authority (FCA). This is notable because the FCA is one of the most cautious regulators, especially when assessing the operations of crypto firms. In addition to this approval, Bitstamp reports that it has 52 licenses and registrations secured with financial regulators throughout the world.
Companies that are carrying out certain crypto-asset activities in the United Kingdom must adhere to the amended Money Laundering, Terrorist Financing, and Transfer of Funds Regulations and formally register with the FCA. This regulation-first approach ensures that consumers are protected from abusive activities.
Rain
The developers of Rain claim that they offer the simplest way to trade crypto in the Middle East
Rain aims to guide clients on their journey to purchase and sell Bitcoin and other digital currencies online with 0% trading fees.
Rain Management W.L.L. is licensed by the Central Bank of Bahrain as a Category 3 Crypto-Asset Services Provider. Their head offices are also based in the Kingdom of Bahrain.
Last year, Rain Financial acquired $110 million in funding through a Series B round.
The round was co-led by Paradigm and Kleiner Perkins along with Coinbase Ventures, Global Founders Capital, MEVP, and others. Rain is now expanding operations across different jurisdictions. The firm is focused on enhancing the crypto trading platform’s tech stack and further improving its trading engine.
Conclusion
Overall, MultiBank offers the best, most trusted, and seamless crypto trading experience to professional traders. While all of these crypto platforms offer an extensive range of trading options, derivatives remain a highly specialized area. That’s why it’s always best to conduct one’s own research before actively trading and depositing a large amount of funds on any platform.
At present, the crypto derivatives market is only a fraction of the size of the traditional markets, however, it is growing rapidly. Traders who familiarize themselves with the fast-growing digital assets space during this bull market will have the advantage in the foreseeable future.
