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Cryptocurrency exchanges act as a gateway to the cryptocurrency world to a large extent. Given such significance, the broader crypto industry is very dependent upon crypto exchanges. And vice versa is also true, where exchanges experience highs and lows when the global crypto market goes up and down. Some crypto firms remained frontrunners in terms of shared growth due to the crypto market’s high in 2023.
BitForex Atop the Crypto Exchange Forest
Among these players, Hong Kong-based cryptocurrency exchange BitForex maintained a safe top position in terms of trading volume this year.
BitForex is a centralized cryptocurrency exchange that was established in 2017 and is based in Hong Kong. The platform provides users with the ability to trade, purchase, and sell a variety of digital currencies using various fiat currencies.
The crypto exchange offers a diverse set of products within the digital asset industry, catering to users with various trading experience levels. These offerings include spot trading, perpetual futures, turbo starters, financial services, and more. This range of tools is designed to assist users in trading cryptocurrencies, whether they are beginners or advanced traders.
BitForex places a strong emphasis on ensuring secure data, safeguarding user privacy, and providing a smooth and error-free user interface. These measures are in place to empower traders with the necessary tools and confidence to make informed cryptocurrency trades.
It boasts a global presence, although it may have certain restrictions in specific regions. Despite these restrictions, the platform offers a comprehensive listing of cryptocurrencies, including popular options like Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), and many others, enabling users to access a wide range of digital assets for trading.
BitForex has successfully earned the trust of cryptocurrency market participants by consistently delivering satisfactory services. Its reputation continues to grow, reflected in increasing trading volumes day by day. As one of the largest cryptocurrency trading platforms, the exchange firm holds a prominent position in the industry, particularly in terms of trading volumes. The platform consistently ranks at the top, and it currently boasts an impressive 24-hour spot trading volume of more than $3.15 Billion, according to CoinMarketCap, underscoring its significance and influence in the cryptocurrency market.
Topcredit Int. Holds the Another Top Position
Another crypto exchange that took the second spot in terms of platform with the most trading volume is also from Hong Kong. Topcredit Int, a cryptocurrency exchange platform, has made significant strides in the crypto trading market, earning a notable position on CoinMarketCap’s global exchange rankings.
The platform currently stands in the 69th position on the top cryptocurrency spot exchange list. This recognition on CoinMarketCap underscores Topcredit’s growing presence and reputation in the global cryptocurrency trading landscape.
In terms of trading volume, the crypto exchange firm saw more than $1.988 Billion worth of trade in the last 24 hours.
It represents a significant milestone in the platform’s broader strategy for global expansion, solidifying its status as a key player in the cryptocurrency exchange industry.
Established in June 2020 and headquartered in Hong Kong, Topcredit boasts a team with extensive experience in traditional finance. Their background provides a deep understanding of users’ asset management needs and highlights the crucial role of trading inefficient asset management and achieving favorable returns.
Topcredit Exchange has been dedicated to delivering a secure, user-friendly, and efficient asset management solution since its inception. After three successful years of securely serving 1.2 million users in the regional market, the crypto exchange embarked on an extensive global expansion strategy in June 2023.
Leading Crypto Exchange Coinbase Holds the Line
Coinbase, founded in June 2012, is a cryptocurrency trading and investment platform that allows users to purchase, sell, trade, and securely store cryptocurrencies. The platform is known for its user-friendly interface, serving both cryptocurrency and NFT markets, and is trusted by users for its privacy and security features.
It is accessible in numerous countries, although it’s restricted in some regions due to regulatory reasons. Its reputation and user-centric services led to its initial public offering (IPO) in 2021, highlighting its substantial growth and sustainability in the cryptocurrency markets. Coinbase stands as one of the leading platforms, notably in terms of trading volumes, with a 24-hour spot trading volume of over $700 million.
Coinbase offers premium access, which provides users with lower transaction fees, enhanced support, and advanced tools. Users can trade various cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and more by creating an account and completing the Know Your Customer (KYC) process.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
