5 legit & safe cryptocurrency exchanges

Summary

• The first exchange-listed digital asset firm follows financial regulations, and it is one of the best crypto trading platforms across North America. 
• The Hong Kong-based crypto exchange offers saving crypto accounts and loans to its customers.
• Toronto-headquartered crypto exchange complies with Ontario Securities Commission’s regulations and holds 95 per cent of assets in a cold wallet. 

Binance, the world’s leading crypto exchange by volume, operates anonymously, which led to financial regulators in UK ban it. The exchange also shut shop in Ontario before Canadian authorities could act against it for failing to comply with Ontario securities laws.

Under these circumstances, the crypto enthusiasts have been looking for legit and safe alternatives to Binance.

We did some research and here are five legit crypto exchanges to buy and sell digital tokens:

1. Coinbase

Coinbase is the first and only publicly listed crypto exchange. It has more than 56 million authenticated traders. Coinbase Global, Inc. (COIN:US, NASDAQ:COIN) allows crypto investors to trade in Bitcoin, Ether, and other cryptocurrencies around 100 countries. 

According to Coinbase's website, it recorded a quarterly volume of US$ 335 billion. It has a market cap of 35 billion and assets listed on its application of US$ 223 billion. It is available across North America and the UK and fully complies with financial regulations. 

2. BlockFi 

BlockFi is an advanced crypto trading platform, offering 7.5 per cent annual percentage yield to cryptocurrency holders. It also lends money on crypto holdings at a 4.5 per cent annual percentage rate. 

The crypto exchange is backed by crypto investment management frim Galaxy Digital, Coinbase Ventures, and other institutional investors.

BlockFi operates worldwide and adheres to regulatory directives. It provides loans in Tether (USDT) to non-US citizens.

3. Crypto.com

Crypto.com is one of the emerging crypto trading firms. It has operations in more than 90 countries and over 10 million users. It also provides a Visa card that can be loaded with cryptocurrencies, and users can get up to eight per cent cashback. 

The exchange also has a native token “Crypto.com coin (CRO)”. CRO has a market cap of US$ 3.15 billion and a circulating supply of 25.26 billion coins. 

The Hong Kong-based firm also secures its clients' crypto holdings by storing them in a physical cold wallet, and it has an insurance plan of US$ 360 million in case of any fraud. 

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4. Coinsquare

The Toronto-based crypto exchange claims to store 95 per cent of digital assets in a physical wallet. It is a regulated financial platform and safe to trade in the cryptocurrency market. 

It charges a minimal trading fee between 0.1 per cent and 0.4 per cent. It charges a direct bank transfer fee of two per cent. The crypto exchange is secure, and it uses multiple layers of cybersecurity to avert any internet fraud. 

5. Mandala 

Mandala exchange is one of the legit and upcoming alternatives of Binance. It has a native crypto token MDX, which has a market cap of nearly US$ 23 million and an uncapped circulating supply.

It over 1000 cryptocurrencies listed on its trading platform. Mandala charges a low trading fee of 0.10 per cent. Crypto investors can transfer Bitcoin or altcoins from Binance to Mandala without paying any fee. It offers digital asset services across 160 countries.