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Binance Alternatives? A Better Solution to Centralised Crypto Exchanges

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What is a centralised crypto exchange?

Centralised crypto exchanges are those where there is a single authority that plays the role of an intermediary in all the transactions. It could also be referred to as the middleman or a third party which handles the assets of buyers and sellers. They are the more popular ones so far compared to the recently emerged decentralised exchanges.

And why are they more popular?

Advantages and disadvantages of centralised exchanges

There is no third-party acting as a regulator at the decentralised exchanges and the approval of the transactions is done through smart contracts, which are based on mathematical algorythms. There is another very important aspect for all the participants in the trade and that is the privacy factor, something people become more and more aware of, more and more concerned with. This, on the other side, could also be used for some illegal/black market deals. Another aspect are the transaction fees which can get quite high due to smaller reserves and occasionally not sufficient equity. Due to the lack of service experience some trouble shooting moments could cause delays in the trading process and spoil the whole experience. Common practice shows that many centralised exchanges often have their customer support on their active telegram group to assist their users.

On the other hand, most of the centralised crypto exchanges offer crypto trading with high liquidity and less volatility and could be a better starting point for first-time traders. They are often seen as bridges between many different fiat currencies and cryptocurrencies. That enables them to accept credit payments, debit payments and bank transfers thus making the two-way exchanges run smoothly. And it means that people can deposit ‘fiat currency’ on the exchange and use that currency to buy crypto. This centralised exchange functionality makes the whole trading experience more user friendly especially for the novice investors.

Bitop exchange is committed to solve the above-mentioned problems of decentralised exchanges. It focuses on CFDs and provides a unique trading experience, especially for new users. The exchange allows users to trade with ease, to conduct transactions of any size and secure a friendly deposit and withdrawal environment. The products offered by Bitop include cryptocurrency trading, futures, spot trading and derivatives. Bitop’s creative team envisions the CFD trading system as an integrated trading signal and innovative risk management tool.

Bitop relies on secure encryption, easy usage and scalability. The team members have their eyes on many fields including high tech new services, big data, blockchain technology, artificial intelligence, tourism, real estate, etc. As far as security is concerned Bitop uses trusted computing, ring signatures, homomorphic encryption and zero-knowledge proofs to ensure user data security and encryption privacy.

How can you compare Bitop with the rest of CEXs? And what are the key advantages here:

Let’s mention some of them:

 

Bitop’s users are given the chance to trade 100+ CFDs in multiple pairs

 

As far as the cryptocurrency space is concerned, the term “trading pairs” describes the asset pair being traded, typically one cryptocurrency for another. For example, the “trading pair” ETH/BTC.

 

Fiat-based trading pairs can be found on cryptocurrency exchanges as well. For example, BTC/USD, ETH/USD, etc. A fiat-based pair works the same as a cryptocurrency-based pair, except one of the assets being exchanged is a fiat currency (aka dollars or cash).

 

Free demo account with 100K virtual USDT funds for practice

 

Another important aspect not to be missed is the option for users to open a demo trading account to practice trading with their strategies and get familiar with the trading operators before opening a real money account. In each type of simulated trading there will be a fixed amount of virtual trading funds. If you are already familiar with demo trading and feel ready to jump into deep waters you can click on the current virtual trading page, under the buy or sell button, and start real trading.

 

Innovative mirror trading (copy trading) system

 

Using Bitop exchange is as easy as a child’s game. It allows new users and ordinary investors to follow closely and copy trades from experienced traders on the platform thus reducing the trial and error cost of the whole process. According to the trading volume in Bitop exchange the ranking of the experienced traders will be shown, players will see the past performance of these experienced traders. There is a cost involved for every copied trade and users can choose which trader to follow.

 

3 levels of API security

 

Bitop exchange cooperates with world-class security companies for audits on the entire site before going online. Multi-level firewalls are set up to monitor system data abnormalities in real time. In terms of user assets a wallet solution with multiple signatures is provided, as well as hot and cold wallet to ensure the security of user assets to the greatest extent.

 

MSB licenses from US and Canada 

 

Being a global international trading platform Bitop serves users in most of the countries supporting digital asset transactions, mainly in Japan, South Korea, Russia and Southeast Asia.  The supported languages are Chinese, Japanese, Russian, English, Korean and Arabic.

Keeping in mind the points above, the potential trader has more clarity as to what to look for in a CFD exchange and what aspects make one platform stand out from the rest.

Bitop exchange is surely your best trading partner! Let’s have a look at the summary of the most important points:

 

  • Leverage

A CFD exchange should have a good ratio of leverage – the investor can have access and take a position on a larger portion of the market with less capital as an initial deposit.

  • Trading Tools

When trading CFDs, take full advantage of the advanced trading tools Bitop exchange can offer you. Some offer tools that help you manage risks and losses, such as setting a limit on profits. Also, make use of the information and help provided, keep a close eye on the indicators to analyse currency charts easily.

  • Strategy and Technique Testing

A benefit of an online CFD exchange is that the majority of them offer a risk-free demo account before you start trading with real capital. It’s vital to have the chance to develop and test your strategies in real market conditions and then move on to trading with real money.

  • Global Market Access

A diverse portfolio is always a wise idea for investors, and so when looking for a CFD exchange, it is good to know which markets and instruments you’ll have access to through your account. The advantage of a CFD trading platform is that the brokers can offer access to a wide range of worldwide major markets, with around-the-clock access, all in one place.

So, think before you choose your crypto exchange, do your own research and follow where big money is going 🙂

After all, crypto trading is not as easy as buying a pair of shoes, you just need to learn from the best and forget the rest! 😉

Telegram Channels: Chinese, English.

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