6 Best Crypto Exchanges of August: At crypto exchanges, traders can buy, sell, and swap different cryptocurrencies and NFTs (tokens that can’t be used to buy other cryptocurrencies). They are needed for digital assets to be traded at the size they are at now. Some exchanges have the most competitive prices or speeds, while others offer financial goods that aren’t available anywhere else.
Read on to learn about the best coin exchanges, how they work, and which one you should choose.
What’s Happening in the Crypto Organization?
The Securities and Exchange Commission (SEC) is cracking down on the crypto industry in a big way, and this has put a lot of organizations in the spotlight. This crackdown comes after a series of high-profile failures that started in 2022 and shook the business.
Most recently, Coinbase got into trouble for not following rules that were meant to protect investors. In a lawsuit filed on June 6, the SEC says that the exchange has been a middleman for at least 13 crypto assets that should have been listed as securities since 2019. The Commission also found that the company’s crypto-staking service might have broken securities law.
Just one day before this case, the SEC sued Binance, the biggest cryptocurrency exchange in the world, for running a “web of deception.” It says that the exchange lied about how it worked, inflated the number of trades, and botched customer funds.
Our top choices for the best crypto exchanges of August 2023:-
| Exchange | Best for | Highlight |
|---|---|---|
| Coinbase | Beginners | User-friendly interface |
| Bitstamp | Low Fees | Competitive fee structure |
| Kraken | Security | Strong focus on security |
| Pionex.US | Automated Trading | Offers automated trading bots |
| Bisq | Decentralized Exchange | Emphasis on privacy and control |
| Public | $0 Commission Platform | No-commission trading platform |
Coinbase
We picked Coinbase as the best cryptocurrency exchange for beginners because it has an easy-to-use interface, a lot of information on how to use it, and strong security features.
If you know about cryptocurrency, you’ve probably heard of Coinbase. The exchange is one of the biggest and most well-known in the U.S., and the cryptocurrency site does a great job of making it easier for new investors to start trading by having a simple onboarding process. At the same time, its interface makes it easy to move around the site and manage crypto.
Bitstamp
We picked Bitstamp as the best cryptocurrency exchange with low fees because its maker/taker fees are very low, it’s free to move money between bank accounts, and it has strong security.
As a way to get traders to join their platform, many crypto exchanges claim low fees, but then “catch” you with high fees to send and receive money. This is not the case with Bitstamp, because all of its fees are low.
Kraken
We picked Kraken as the most secure cryptocurrency exchange because it has strong security tools and protections that have helped the company run smoothly ever since it opened.
Kraken has been around for a while, and crypto users all over the world know and love it. At first look, the exchange might not seem to have anything special about it. It supports more than 200 cryptocurrencies and offers a wide range of services, such as spot trading, margin trading, staking, and futures.
Pionex.US
We picked Pionex.US as the best place to trade cryptocurrencies automatically because it has built-in auto-trading bots, low fees, and an easy-to-use interface.
Since it started in 2019 in Singapore, Pionex has gained a large online following thanks to its low fees and 16 built-in trade bots. Pionex.US is a branch of the platform in the United States. It only allows spot trading and has only 11 bots, but it is still the most complete automated option for trading cryptocurrencies.
Bisq
We chose Bisq as the best-decentralized exchange because it keeps an open-source platform that is completely decentralized and doesn’t limit the number of currencies it can handle.
Bisq, which used to be called Bitsquare, brings to a decentralized setting the clean, easy-to-use interface and wide range of coins that centralized exchanges offer. The platform is built on open-source software, which means that its design is available to the public. The project is paid for by the user’s personal savings and gifts.
Public
We picked Public as the best platform with no fees because not only are the trades very cheap, but the exchange is also very easy to use and has a lot of educational content.
The public is a platform for new investors that tries to make investing easy and cheap while putting financial knowledge first. It does this by giving users articles on a wide range of financial topics, market updates, and a daily live show called Public Live, where a group of experts, analysts, and journalists talk about market news.
Check Out:
- What is Cryptocurrency and How Does It Work? A Comprehensive Guide for Beginners
- 9 Amazing Benefits of Cryptocurrency for Your Business Growth and Success
- How to Invest in the Top 7 Crypto Currencies for Long-Term Growth?
Conclusion
Crypto exchanges allow traders to buy, sell, and swap various cryptocurrencies and NFTs, making them essential for trading digital assets.
The SEC is cracking down on the crypto industry, with recent high-profile failures such as Coinbase’s lawsuit for not following rules and Binance’s lawsuit for running a “web of deception.” The top five crypto exchanges of August 2023 include Coinbase, Bitstamp, Kraken, Pionex.US, Bisq, and Public.
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