A cryptocurrency exchange also referred to as a digital currency exchange is an online platform that allows customers and traders to exchange one cryptocurrency or digital currency for another. The exchange can be in form of different digital currencies or the conventional fiat money. Cryptocurrency Exchanges are often independent of the digital currencies being traded or exchanged in their platforms.
Cryptocurrency Exchanges keep and administer their customers' accounts and generally do not issue Exchange based Coins or Tokens to customers. However, a few exceptions exist that deal with trading and exchange of the cryptocurrencies as well as offering solely owned coins, shares or tokens.
Top 10 Native Tokens & Coins For Crypto Exchanges
This article discusses 10 top Cryptocurrency Exchanges that not only allow trading and exchange in their platforms but also own the digital currencies that are traded in their platforms
1. Binance Cryptocurrency Exchange:
Binance Coin (BNB Token)
Binance is a cryptocurrency exchange that was developed in China and later relocated its headquarters to Japan in September 2017 after the Chinese government prohibited trading in cryptocurrencies. Binance is one of the best cryptocurrency exchange currently. It was the largest crypto-exchange as of January 2018 with a BNB market capitalization of US$ 1.3 Billion. Due to the strict regulations on cryptocurrencies, Binance declared in March 2018 of its intentions to establish an office location in Europe at Malta.
Binance created its ETH platform (ERC20) based Binance Token (BNB) in 2017 which has a fixed supply of 200 Million. The Binance token (BNB) was generated during the 2017 Initial Coin Offer (ICO) event to fund the expansion and development of the Binance exchange. The BNB Token can be used to pay for fees on the Binance Exchange platform such as the listing fees, the withdrawal fees and the Exchange fees. Users and owners of BNB receive regular dividends, regular BNB token burns as well as reduced transaction costs by 50 percent. The benefits are increasing exponentially due to increased volumes of trades handled by the Exchange.
2. Cryptopia Cryptocurrency Exchange:
Cryptopia Exchange is among the best and most powerful digital assets trading platform. It is a marketplace and cryptocurrency platform that is based in New Zealand. The Exchange possess one of the largest selections of different Altcoins. It allows users to trade, deposit and withdraw Bitcoin, Litecoin and well over 400 digital currencies. The Cryptopia Mineshaft is a well streamlined, straightforward and easy to use mining platform for cryptocurrencies.
In addition to be being an easy to use platform, the Cryptopia exchange also provides a quick way to convert digital currencies. The Cryptopia's Block Explorers also allow traders and users to view comprehensive information on all blocks and transactions. Cryptopia Exchange owns the CryptopiaFeesShare (CEFS) Token. These tokens generate dividends for the owners over the Ubiq Blockchain. These tokens are however very expensive and rare. For example, at the time of writing this Article, one piece of CEFS token had a value of US$ 1,723 with the total number of tokens having a fixed cap of 6300. Holders and owners of CEFS Token receive 4.5% of the monthly revenue from Cryptopia which is proportionately distributed in accordance to the CEFS holdings.
3. KuCoin Cryptocurrency Exchange:
KuCoin (KCS Token) Shares
KuCoin Exchange is one of the most advanced cryptocurrency exchanges where traders can buy and sell Bitcoin, Litecoin, Ethereum, Monero, DigitalNote, ZCash, Ardor, KuCoin Shares (KCS) and over 210 other digital currencies. KuCoin exchange is based out of Hong Kong and its founders started researching about blockchain technology back in 2011.
They further built KuCoin`s technical architecture in 2013. The Exchange launched 4 years later with the sole purpose of “becoming one of the top 10 hottest exchange platform[s] worldwide” by 2019. KuCoin Exchange managed to pave its way from an obscure exchange to a sort after Exchange as the 18th largest Exchange through its 24-hour trading volume.
KuCoin Exchage owns the native token KCS referred to as KuCoin Shares. KuCoin had an ICO whereby 100 Million tokens were distributed. Owners of KCS receive 50 percent of the platform`s trading fees for all volume in the Exchange.
KCS has a market capitalization of around US$ 435 Million and a value of US$ 4.78 per token. Users of KCS receive passive income from the referral system.
4. CryptoBridge Decentralized Exchange:
CryptoBridge Exchange is a decentralized cryptocurrency Exchange (DEX) that enables trading of most of the well-known Altcoins. The main innovation involves the elimination of a single spot of failure when trading cryptocurrencies. Additionally, another unique point characterized with this Exchange is the utilization of a multi-signature federated gateway. All deposits, withdrawals as well as all the order books are stored transparently on the blockchain.
Each user holds the private keys to their BCO coins. CryptoBridge Exchange therefore has no access to the user’s funds. CryptoBridge owns the native currency referred to as BridgeCoin (BCO). BCO coin is not an ERC20 token but is instead minable. BCO is a crypt-compatible coin and it was created in July 2017.
Holders of BCO receive up-to 50 percent of the bonus and revenue share of the CryptoBridge Exchange once they stake their coins in the schedule outlined in the platform.
5. COSS Exchange:
COSS cryptocurrency Exchange is a secure and fast cryptocurrency Exchange that is located in Singapore. It has similar features to Binance and KuCoin. This Exchange has future goals of being a payment processor and USD Exchange. With the COSS Exchange, a customer`s entire cryptocurrency funds can be stored in a single location safely. All the transactions that are initiated at the COSS Exchange platform are retained and validated on the Ethereum Blockchain. COSS Exchange owns the native currency COSS Coin which is an ERC20 token. Holders of COSS are currently paid 50 percent of the trading fees from the Exchange on a weekly basis. A trader or owner of the COSS Token can hold their tokens in an ERC20 wallet such as MyEtherWallet or on the COSS Exchange itself to receive the rewards
6. COBINHOOD Cryptocurrency Exchange:
This cryptocurrency Exchange was launched on 18th December 2017. COBINHOOD Exchange sets itself apart from other Exchanges because it offers zero fee trading which is great news to crypto traders. When COBINHOOD Exchange launched the open beta version for a month beginning on 14th November 2017, they acquired around 25k+ open beta testers.
The Exchange has been able to access crypto markets across continents in regions such as Europe, North America, Asia and the Oceania. The Exchange is constantly undergoing Continuous Integration and Development with regular updates through the bi-weekly development blog
COBINHOOD Exchange owns the Cobinhood (COB) Tokens. Holders of the COB Token have the Advantages of enjoying bounties. The Exchange has since 18th December 2017, launched bounties and five contests which include: Fresh Tokens Alert, The 20188 COB Lottery, creative and content marketing bounty, Purchase of CMT with 1 COB and the Localization and translation bounty.
7. Coinmetro Crypto Exchange:
CoinMetro Exchange is a Fintech licensed platform that fuels the future of blockchain innovation. This exchange is a greater part of a much wider platform since the Exchange supports direct crypto or fiat deposits and withdrawals. CoinMetro Exchange also offers other features like a customizable trading interface crypto ETF’s.
CoinMetro has two outstanding innovative models that is TAM accounts which allow anybody to partner up with a professional trader and ETCF’s which are just like ETF’s but for cryptos.
CoinMetro Exchange prides in its buyback program which is supported by sharing of revenue with its strategic partner FXPIG, a forex brokerage firm that has been in operations since 2011 with established assets to support the program.
The CoinMetro platform is an all-in-one solution for cryptocurrencies geared towards maximizing client value. The Exchange delivers a rock-solid, user-focused framework and platform that offers exceptional mobility between the traditional markets and blockchain-based digital assets.
CoinMetro owns the CoinMetro (XCM) Token, a unique digital asset which is not being structured or sold as securities. The XCM Tokens are sold with a deliberate future functionality on the Exchange platform which intend to be developed by CoinMetro.
All the proceeds acquired during the Token Sale were spent on the development of CoinMetro`s business and platform. CoinMetro burns a percentage of their tokens over periodic time intervals as a way to reinforce value through scarcity. XCM tokens can be used by traders to pay fees on the respective exchanges at discounted rates, which is awesome for the traders.
8. Bibox Crypto Exchange:
Bibox Exchange is an all enhanced-encrypted digital assets and cryptocurrencies exchange platform. It is a very young Chinese based crypto Exchange that allow traders to trade multiple altcoins. The founding team is constituted by top tier Chinese Crypto and blockchain giants. Bibox`s team comprises of the co-founder of OKCoin and other key founding members from HuoBi.com, the two largest Bitcoin Exchange platforms operating in China even across the continent.
The Bibox Exchange supports various languages such as English, Mandarin, Russian, Korean and Vietnamese. Although Fiat payments are not accessible, this is a definitive choice that can be added in the future because of the number of people and consumers that like trading with crypto since it has the power of using Fiat currency at the same time.
Bibox owns a native token called BIX. These BIX tokens can be used in various ways. They can specifically be used to pay for fees on the Exchange platform such as Withdrawal fees, Exchange fees and Listing Fees. Holders and Owners of BIX tokens receive rewards in fee reduction in the Exchange`s platform. Holders also enjoy the economic incentive of that these tokens derive when the tokens are bought back regularly and burnt until finally the supply reaches 200 Million.
9. IRCEX Exchange:
GCN Coin The IRCEX cryptocurrency Exchange is a relatively new Exchange based in Dublin, Ireland. It has just been recently launched towards the end of March 2018. This great platform allows traders to sell or buy different cryptocoins, bitcoins and rptcoins. Registration at the Exchange is currently ongoing. The IRCEX Exchange is a beta exchange. The owners are currently inviting users for testing of the Exchange. The exchange mainly supports GCN holders and users.
The IRCEX Exchange owns the GCN coin. The GCN Coin has been around since the early 2014. GCN Coin has a maximum supply of 200 Billion. As at the time of writing this Article, the GCN issued out totaled over 150 Billion. It has a market capitalization of US$3.53. According to GCN`s website, the mining block is expected to half to 32,500 with the rewards anticipated around June 2018.
10. IDEX cryptocurrency Exchange:
IDEX is an Ethereum-based decentralized cryptocurrency exchange that features Ethereum and ERC20 enabled token trading pairs. It is the only Ethereum decentralized exchange that provides real-time trading and high transactions throughput the trade. IDEX also features Meta Mask Wallet and Ledger Nano S integrations. It provides safer alternatives for fund management instead of manually entering the private key which presents distinctive design pairs.
The trading experience at IDEX Exchange is managed by the off-chain infrastructure while the smart contract manages all funds, trade authorization and final settlement. By separating trade pairing from execution, IDEX produces the user experience and speed of centralized exchanges merged with the auditability and security of the Ethereum Blockchain.
IDEX Exchange owns the AURA Token. The AURA token allows users to earn a share of fees that are generated by IDEX and from future Aurora products. Through staking AURA and assisting secure Aurora's fully-decentralized Platform and Network, the node operators receive rewards that are proportionate to their percentage stake.
In conclusion, the best cryptocurrency Exchange and the best Coin/Token or share depends on the Goals and expectations of the consumer. Exchange based tokens and coins are not always the “perfect” coins.
A consumer needs to analyze the flow of volume of an Exchange and do due diligence on the coins or tokens that they are interested in purchasing.