A Guide to Alternative Crypto Exchanges to Diversify Your Investment Portfolio in 2022
Despite the fact that the vision of cryptocurrency is to decentralize and circumvent supervision, market price changes are still heavily influenced by government regulatory policies. In 2021, whether in China or the United States, regulatory agencies and departments have become much stricter about cryptocurrency, and policies have been significantly tightened.
All blockchain users couldn’t help but wonder: as a user, should you avoid putting all of your eggs in one basket and diversify your investment portfolio instead of putting all of your money in one exchange that’s highly possible going to be under policy changes? Where should the existing and new cryptocurrency investors look for new investment opportunities? In the face of such a plethora of acceptable exchanges, which one is better suited to users subject to the high-pressure policy?
Since its inception in 2018, dYdX has grown to become the largest perpetual contract trading platform for cryptocurrency assets. dYdX’s average daily trading volume has surpassed $11 billion, exceeding the trading volume of centralized exchanges such as Coinbase. dYdX uses an order book without custody, supports advanced order types, and offers a wide range of DeFi derivatives. Its most significant innovation is that, despite switching to Layer 2 in November 2021, its API can still provide a user experience comparable to that of centralized exchanges. There is almost no learning cost for investors who have long invested in centralized exchanges.
On the other hand, dYdX is not 100% perfect. For example, the only accepted settlement asset for dYdX trading pairs is currently USDC. Furthermore, aside from stablecoin trading pairs, the spot trading and leverage services supported by dYdX are extremely limited, making it impossible to fully meet users’ needs for diversified project investment. Furthermore, its professional UI/UX design may be intimidating for newcomers and investors looking to enjoy DeFi with ease.
FTX is a centralized global cryptocurrency exchange that distinguishes itself from competitors by providing innovative products such as derivatives, options, and leveraged tokens. It also supports over 300 cryptocurrencies, which is a significant number when compared to some competitors.
FTX provides a wide range of features, and it recognizes that new users may struggle to find them. In order to address this, the exchange includes an overview guide. Important information is also clearly stated throughout the FTX website. For those interested in staking FTX’s token, FTT, the exchange lays out the rules clearly.
On the downside, FTX, like many other cryptocurrency exchanges, receives mostly negative customer feedback. The majority of user complaints are about FTX’s customer service. The length of time it took customer service to respond to support tickets was a recurring theme in the complaints.
BitCoke is a Hong Kong-based cryptocurrency derivatives exchange with a wide range of advanced trading tools that first went live in late 2019. It has excellent security and a pleasing zero-downtime track record. According to CoinMarketCap, BitCoke is now ranked eighth among the Top Cryptocurrency Derivatives Exchanges.
BitCoke has always been proud of its trading function named Quanto Swap. Users can leverage contracts by trading with USDT/BTC/ETH as a settlement coin, lowering trading costs. Quanto swap also enables users to work with more than 50 cryptocurrencies and leverage trade perpetual contracts with a margin. The Quanto Swap contracts are essentially perpetual swaps in reverse.
BitCoke Launchpad is a newly-launched, exclusive token issuance platform, designed to support the crypto ecosystem by providing all BitCoke users with first access to quality projects. The first IEO project launched on BitCoke, Richverse, raised 18.35 million COKE in this launchpad, which was 82 times oversubscribed.
At the moment, BitCoke’s spot has rapidly expanded to more than 50, and Launchpad is also planned to provide BitCoke users with a better experience and greater benefits. It appears that now is the ideal time to join BitCoke and take advantage of the launchpad.
In 2022, users can still choose a trading platform that suits them as a promising industry where both dangers and opportunities coexist. Whatever the state of the blockchain sector, we believe that blockchain investors from throughout the world will maintain the essential spirit of decentralization, pursue a freer and more open financial world, and keep pushing forward to the future.
*Any information provided in this article does not constitute investment advice, financial advice, transaction advice, or any other advice, and please do not consider the information provided herein as the advice listed above. This article does not endorse, warrant, guarantee or recommend any certain product. Please do your own research before you decide to use any third-party service.