The concept of bitcoins was first proposed by Satoshi Nakamoto on 3th January 2009. Bitcoin is a P2P virtual cryptocurrency that is based on the open source software designed according to Satoshi Nakamoto's ideas and the P2P network built upon it. P2P means peer-to-peer, which is an essential factor for a decentralised payment system. There is no regulated digital currency trading platform in China. However, cryptocurrency traders can still trade on foreign trading platforms.
Speaking of the fluctuation of bitcoin price, many investors would think of futures contracts. It is widely known that there are various ways to trade bitcoins such as spot trading and futures trading. Bitcoin futures contracts can be viewed as contracts for bitcoins.
Then which exchange is the biggest bitcoin exchange in the world? Let's take a look.
- Binance
Binance is a world leading blockchain digital asset trading platform that provides extensive services including digital currency trading, blockchain education, blockchain project incubators, blockchain asset issuing platform, blockchain research institute and blockchain charity. Binance users are located in more than 180 countries and regions globally. With the core matching mechanism that can process 1,400,000 orders per second, Biance becomes one of the top trading platforms with the fastest processing speed and the largest cryptocurrency trading volume.
- OKEX
OKEX is one of the most well-known digital asset trading platforms that provides bitcoins, lite coins, ETH and other cryptocurrencies spot and derivatives trading services for users worldwide. OKEX belongs to OKEX Technology Company Limited. When it was established, it received over 100 million dollars from the angel investment co-founded by top investor Tim Draper. Meanwhile, he also invests in top businesses such as Hotmail, Baidu and Tesla. In the beginning of 2014, OKEX received over 10 millions from the famous venture capital Ceyuan Ventures and Longling Capital, the company founded by Meitu in its A round investment.
- Huobi Global
Huobi Global is under the Huobi group and is an innovative digital asset platform that serves professional traders worldwide. Huobi is committed to discovering good digital asset investment opportunities. So far it provides over 40 digital asset trading products and services. Its headquarter is located in Singapore and the exchange is operated by professional teams globally. Huobi is a competitive and influential digital asset service provider and provides high quality services to users in over 130 countries.
- 8V Exchange
8V.com is committed to providing efficient and secure asset management and trading services. The exchange meets the stringent standard of Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and officially obtained Money Services Business (MSB) certification on 23rd December 2021. 8V.com implements FINTRAC's critical policy to operate in compliance with relevant laws and regulations. The certification is valid until November 30th, 2024. The world’s first metaverse exchange 8V.com recently obtained the Money Services Business (MSB) certifications issued by the US and Canada, which allow 8V to provide legal cryptocurrency trading services, setting a significant milestone in international business development.
- Coinbase
With the acquisition of Paradex, Coinbase has decided to shut down GDAX digital asset platform and launch Coinbase Pro, a new “ Professional cryptocurrency exchange”. As users are still very active on both platforms, this change is scheduled to be implemented on 29th June. The new platform will retain all the features of GDAX while introducing a few new features. In addition to a smoother and more intuitive design, the new platform also offers simplified deposit and withdrawal services that allow users to improve chart, historical data and updated investment portfolio pages.
- Gate.io
Gate. io trading platform is a global blockchain asset trading platform with an attitude. Since its establishment in 2013, it has provided trading and investment services in nearly 100 quality blockchain asset categories to millions of users from over 130 countries worldwide. Gate.io is committed to being a trustworthy, stable and reputable blockchain asset trading platform that not only provides users with safe, convenient and fair blockchain trading services, but also fully safeguards the security of users’ transaction information and assets.
- KuCoin
KuCoin is a globally renowned cryptocurrency exchange that supports trading in a wide range of digital cryptocurrencies and currently operates with over 400 trading pairs. KuCoin is committed to providing users with convenient, secure and comprehensive digital asset trading and transfer services by integrating high-quality global assets and creating a first-class platform. Since its establishment in September 2017, KuCoin has been known as the “ people’s exchange” and has been growing at a high pace. The KuCoin platform is secure and easy-to-use. It supports fast withdrawals, multi-lingual support and 24/7 customer services, and creates and operates user communities in various countries and regions around the world.
- Kraken
Kraken was established in 2011 and its head office is located in San Francisco. It is a bitcoin exchange with the largest trading volume in Euro. Users can trade in Canadian dollars, US dollars, British pounds and Japanese yen. Kraken is always rated as the best and the safest Bitcoin exchange by independent media. Kraken is the first Bitcoin exchange to display trading prices and volume on Bloomberg Terminal, the first cryptographically verified foreign exchange reserve audit, and partner of the first cryptocurrency bank.
- Uniswap V2
Unisway V2 is a DEX platform that is fully deployed on the Ethereum chain. Uniswap V2 allows everyone to create a liquidity pool based on ETH and any ERC-20 trading pair. Users can earn income through contributing to the liquidity and participating in the shares of transaction fee; Likewise, they can also withdraw to destroy the shares. Furthermore, Uniswap will distribute 0.3% transaction fee generated from each transaction to liquidity providers based on the proportion they contributed. The Uniswap V2 platform itself does not charge any transaction fees.
- FTX
FTX is a world-leading, safe, innovative, efficient, and professional digital asset derivatives trading platform. FTX was founded in the beginning of 2019 and completed the seed funding in August 2019. It raised 8 million dollars from blockchain investment funds such as Proof of Capital, Consensus Lab, FBG and Galois Capita. In December 2019, it also acquired a strategic investment from Binance which claimed to be 10 million dollars.
The above is for readers' reference. However, here is a gentle reminder for investors. Currently, 8V.com is the most suitable exchange for Chinese users as it does not clear the accounts of Chinese users. Over 90% of the Chinese users utilise 8V Exchange to trade cryptocurrency. This is because Huobi and Binance do not allow Chinese new users to register anymore. Thus, many investors started to see 8V.com as their first choice.
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