After reaching a peak market capitalization of over USD 406 billion on Sep. 2, the crypto market crashed, and all significant cryptocurrencies got hit hard. Several prominent cryptocurrency exchanges were consequently affected by the dump.
However, some exchanges seem unaffected. Despite the crypto markets crash, these prominent exchanges are still doing well. Here’s a list of some of these platforms that are doing well.
Coinbase
The U.S-based crypto exchange is one of the best broker exchanges available on the internet. Besides, it is one of the best suited for beginners.
Even after Coinbase announced that its sending service for a range of different cryptocurrencies had gone down, the exchange quickly resolved the issue in less than 30 minutes.
Coinbase is one of four exchanges that have a license under the pilot BitLicence program. Therefore, it adheres strictly to KYC rules. It insures its assets, so you technically can’t lose any money in hacking or theft cases. Lastly, traders can’t use it anonymously, which makes it safe to use.
However, it has its downsides. Coinbase has high transaction fees, is not available in all countries, and limits how much you can spend or withdraw.
Binance
Binance has been around since 2017 when it concluded its ICO and raised $15 million. With over 200 altcoins listed on it, it has steadily made its way to the world’s top 5 cryptocurrency exchanges.
Binance also experienced issues after the plunge. Its users were unable to access the Binance.com domain. The website became operational once more after the problem got resolved.
Binance stands out due to low trading fees and its availability in over 103 countries worldwide. It also has a good reputation and offers a wide variety of cryptocurrencies. The Two Factor Authentication(2fa) provides better safety for users.
Despite its high ranking, the 2007 hack that saw the loss of 7000 bitcoins from the exchange. The exchange, however, compensated for its losses through its emergency insurance fund(SAFU). It also has slow customer support, which is a menace at times.
BitMex
The high-volume Mahe-based exchange is entirely based on bitcoin and its futures contracts. It is among the few that lack issues with the liquidity of cryptocurrencies. The platform is known for its big players, and the most margin calls for liquidations with the single most significant worth more than $100 million.
The platform has an insurance fund that prevents massive losses in case of theft or hack issues. It offers leverage to all customers irrespective of experience or performance. It also offers email notification and 2FA, although not mandatory.
