Alternative exchanges and sites like Binance.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Must read: Binance to restrict product offerings in Malaysia.
To comply with a regulatory order by the Securities Commission Malaysia (SC), Binance announced in a company statement that it ceased access for the following product and service offerings in Malaysia on 16 October 2021, 12pm (UTC+8):
MYR trading pairs MYR payment options P2P merchant applications.
Binance P2P removed MYR trading pairs before the mentioned date and the company advised users to complete all related P2P trades and remove related trade advertisements to avoid potential trading disputes. Binance is also not operating any Telegram group or other online communication channels in Malaysia.
Binance is one of the most popular cryptocurrency exchanges in the world, with nearly US$3 million more transactions per day than its closest competitor. It offers a large range of features that suit both beginners and experienced traders. Users can stake their tokens for yield, invest in NFTs or trade futures. The platform also boasts an impressive range of altcoins that can be purchased.
Binance has the following features:
It is one of the largest cryptocurrency exchanges by market trading volume. It offers a robust set of trading and charting tools. It has a wide range of cryptocurrency offerings.
Due to regulatory issues, the Binance cryptocurrency exchange
is being banned from operating in a number of countries including Malaysia, Singapore and the UK. If you want to keep trading, it’s a good idea to search the market for another exchange.
KuCoin is a well-known cryptocurrency exchange that is actually based in Singapore. KuCoin supports the purchase, sale and trading of a huge number of coins – over 460 at the time of writing, ni binance byemewe mubuhinde which is even more than Binance.
KuCoin also has regular competitions and giveaways that its users can participate in to have a chance at earning additional revenue. The platform even has its own native token, binance jagora KCS, which can be used to engage with the decentralised finance ecosystem.
Gate.io is one of China’s oldest cryptocurrency exchanges and hosts the highest number of available coins compared to most popular platforms, with over 920.
Many of the coins you can buy and sell on the platform aren’t available on any other centralised exchange and have to be purchased using another cryptocurrency. This may be an inconvenient process for beginners, and the conversion fees can easily add up.
The appeal of using this exchange as an alternative to Binance is obvious – if you want access to a broad range of altcoins from a trusted exchange, Gate.io might be an option to consider.
Kraken is another exchange with a well-established user base and safety profile. Their dealings, governance structures and security measures are all arguably more transparent than Binance’s. This makes it an appealing destination for those that prioritise the protection of their assets. Kraken does have a much lower number of cryptocurrencies for trading than Binance, and also slightly higher fees. That said, most popular coins are still available for purchase.
The platform also supports advanced features such as staking and margin trading. There is also a comprehensive mobile application that lets users buy and sell crypto on the go, much like binance cryptocurrency exchange
How to switch exchanges.
If you find yourself wanting to move from one exchange to another, the process is usually simple. The vast majority of platforms will come with a built-in wallet where you can store your cryptocurrency assets.
Let’s say you wanted to move from Binance to KuCoin. All you would have to do is create a wallet on the KuCoin platform and copy the provided wallet address.
Then, you would paste this address in Binance wallet’s ‘send’ field and complete the transaction.
Within a few minutes, your cryptocurrency should appear in your desired exchange’s wallet.
Another option is to withdraw your cryptocurrency into a third-party wallet instead of keeping it on an exchange. This makes it much easier to move between different exchanges and puts the control of your finances entirely in your own hands.
Certain third-party wallets also allow for in-app binance sing digunakake
staking and trading.
Alternatives to Binance.
The following exchanges are probably the closest equivalents to Binance you can find.
If none of the above has what you’re looking for, you might want to start looking in one of the places below.
Looking for a specific coin? Search for exchanges by coin here. Want more options? Get a wider look at the available cryptocurrency exchanges.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.