The 12 months 2022 is one which cryptocurrency buyers and merchants wish to quickly neglect, however it’s sure to be a painful reminiscence for a very long time. The 12 months noticed not solely the collapse of many cryptocurrencies when it comes to worth down from all-time highs but additionally the whole dismantling of a number of high cryptocurrency exchanges and firms.
2023 is now right here, and cryptocurrencies like Bitcoin and Ethereum aren’t going wherever. And neither are the rising variety of customers adopting the rising asset class and decentralized monetary know-how. However clearly, crypto merchants themselves must go someplace – particularly now that so many high firms are actually defunct or bankrupt.
Which platforms are left after the mud has settled on the crypto business? And what do these platforms provide for promise, energy, and safety? On this head-to-head comparability between PrimeXBT, Binance, and Coinbase, we’ll information you on the place to commerce crypto in 2023.
PrimeXBT Vs. Binance Vs. Coinbase: The 2023 Comparability
Rather a lot has modified throughout the cryptocurrency business and at every of those particular person platforms. Whereas they’ve been in contrast previously, we’re as soon as once more placing these platforms head-to-head based mostly on every little thing that’s unfolded for the brand new 12 months.
Buying and selling Devices
Though there are outliers within the inventory market which have carried out as poorly or worse than some cryptocurrencies, few asset courses have been as impacted by the drawdown in monetary markets of 2022 as crypto. Bitcoin and Ethereum plummeted by round 80% every, whereas different altcoins fell upwards of 90 to 99%.
PrimeXBT is the chief on this space for 2022 and 2023, as the one platform of the three to offer publicity to conventional property along with the most well-liked cryptocurrencies. Proper on the identical spot, you may commerce Bitcoin and altcoins with lengthy and quick positions and leverage. You can too commerce foreign exchange currencies, inventory indices, commodities, and treasured metals.
The worst platform to commerce at in 2022 was shortly Coinbase, having shut down its Coinbase Professional platform and folded it into its foremost Coinbase product. The Coinbase app and web site do enable for a extra skilled buying and selling interface to be toggled on and off. Nonetheless, the principle expertise leaves quite a bit to be desired. Coinbase additionally lacks any derivatives merchandise and solely affords spot buying and selling of cash, which means anybody with cash on Coinbase is at a loss except they’re holding stables.
Binance customers have been served barely higher than Coinbase in 2022 and will likely be in 2023 as properly. Binance does enable customers to quick cryptocurrencies with leverage utilizing perpetual swaps and futures, so loads of income have been and can proceed to be made.
Extra Options
The subject at hand is the place to commerce crypto, and that’s what we’ve centered on first. However what else a platform affords determines which platform is price contemplating within the new 12 months. Crypto merchants have a various set of wants, making many secondary options supplied at every platform price on this comparability.
Coinbase is essentially the most restricted when it comes to added options. There’s a Coinbase Pockets that customers can use to entry Web3 functions, retailer NFTs, and many others. Exterior of that, they’re a platform to purchase and promote crypto property.
PrimeXBT affords essentially the most distinctive differentiators specializing in the aggressive nature of merchants. The Covesting copy buying and selling module is unique to PrimeXBT and permits followers to repeat the trades of technique managers ranked within the leaderboards. All-time income for 2022 topped out at greater than 4,000%. There are additionally weekly buying and selling competitions at PrimeXBT Contests, the place customers can win free crypto.
Binance has constructed itself as much as be among the many most full-featured platforms of all, with crypto loans, DeFi, NFTs, and far more.
Security And Safety
Fortunately, security and safety haven’t ever been a big difficulty at any of those platforms. None have skilled any sort of hack that places customers in danger, and every affords further fail-safes similar to two-factor authentication and handle whitelisting.
Binance has had some shut calls over time because of having essentially the most important publicity to customers and buying and selling quantity within the business. This has made Binance a goal, however to this point has managed to maintain customers’ funds secure.
Coinbase safety is usually so extremely regarded they provide institutional custody companies to rich purchasers. Coinbase applies the identical safety measures to all property throughout all merchandise.
PrimeXBT depends on a proprietary chilly storage course of that makes the platform just about hackproof. Withdrawals exit solely as soon as a day in consequence, however it’s well worth the added security and safety.
Fame
In 2023 and the aftermath of final 12 months, fame will grow to be a very powerful issue throughout the cryptocurrency business. Every of those platforms has survived a number of bear markets and is among the strongest manufacturers within the house nonetheless standing at the moment.
Just lately, Coinbase settled with New York state regulators to the tune of $100M, in keeping with The New York Instances. Clearing up the problem and being given a cleaner invoice of well being helped Coinbase International shares climb for the primary time in ages.
Binance, whereas an business chief when it comes to measurement and market share, is starting to battle with its fame, with the platform experiencing an exodus of BTC and different cash in worry of the corporate falling sufferer to an identical destiny as FTX and others.
In the meantime, these two different platforms faltered, PrimeXBT secured the award for Most Trusted Crypto-Asset Buying and selling Platform from Crypto Expo Dubai. PrimeXBT additionally stayed out of the crosshairs of the continuing market controversy and contagion, guaranteeing secure, uninterrupted service.
Conclusion: The place To Commerce In 2023
We’ve helped break down which platform is the perfect by every essential issue, together with security and safety, fame, buying and selling devices, and extra options. Whereas different options will be important, ensure that they’re options you truly need to use and supply measurable success. In any other case, they’re only a waste of time and capital.
By specializing in buying and selling devices, instruments, and fame, the clear winner is PrimeXBT, with its current awards and entry to extra international monetary markets than wherever else. Coinbase is hard to suggest in any respect, contemplating being centered round spot buying and selling whereas volatility is so intense. Binance, regardless of its market chief place, might be vulnerable to the identical destiny as FTX.
To be taught extra about why we’ve chosen PrimeXBT, go to the award-winning buying and selling platform your self and get registered for a free account.
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