Cryptocurrency is a digital or virtual currency. It uses cryptography to secure transactions and verify transfer. Furthermore, Cryptocurrency operates on decentralized networks that are based on blockchain technology.
Names Of Some Famous Crypto Currencies
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- BNB
- XRP
- Dogecoin
Crypto Exchange:Basically, Crypto exchange is a platform where people buy, sell or trade cryptocurrencies. Moreover, people convert between cryptocurrency and fiat currency.
Below are some of the crypto exchanges mentioned with their features and risks.
Centralized Exchanges (CEX)
- Basically it holds user’s funds.
- Handles (know your customer/Anti money laundering) regulation.
- Easy fiat integration.
- High liquidity.
Decentralized Exchanges (DEX)
- Trade through smart contract.
- Users have custody of own keys and funds.
- Moreover, it has less fiat support.
- Lower liquidity.
Hybrid Exchanges or Other Variation
Mix features of CEX and DEX
Top 5 Crypto Exchanges and Their CEOs
- Binance: Basically, Binance is #1 by trading volume. It shares market globally among centralized exchanges. Richard Teng is the CEO of Binance. Furthermore, Teng emphasized on regulatory alignment, licensing, compliance, etc.
2. Gate.io: Gate.io ranks in top 5 by various measures. Dr Han (Lin Han) is the CEO of Gate.io. Basically, it focuses on global user base.Furthermore, it’s founder has given it some stability, still the challenges of regulatory compliance arise.
3. Bitget: Bitget comes in top ranking by trading volume. It has a strong growth and user base especially derivatives or futures.Moreover, Gracy Chen is the CEO of Bitget. She was appointed in May 2024. Under her this platform is pushing global expansion and product innovation.
4. MEXC: MEXC comes in top 5 ranking by market share / volume in certain things. The original CEO stepped down in 2022. Name of new CEO has not been officially verified.Furthermore, leadership uncertainty imposes risks. Moreover, public communication seems less clear.
5. OKX: OKX comes in top few global exchanges by volume / offerings. Star Xu is the founder and CEO of this exchange. Moreover, it has globally, offering features such as spot, derivatives, wallet, NFTs, etc. Furthermore, they have been participating in markets outside core traditional crypto hubs.
