The market for cryptocurrency exchanges has witnessed explosive growth in the past three years. With so many options to choose from, which up and coming platforms should be on your radar? Here are four emerging exchanges that offer something different from the usual tried-and-tested crypto platforms. Each offers distinctive products and services, and caters for a different niche, from retail to institutional traders. Here’s how the quartet stack up.

Bitrue

Bitrue Bitrue Photo: Bitrue

Bitrue launched its exchange in 2018 as a financial management platform specializing in digital assets, investments, loans, and trading. It became one of the first cryptocurrency exchanges to adopt XRP as a base currency, going on to establish itself as one of the top three trading platforms for the asset as a result.

Bitrue has generated an impressive 620% daily trading volume growth year on year and now manages daily trading volumes over $300 million from its 1.6 million global users. It offers some of the lowest exchange fees via the Bitrue platform token, BTR.

Bitrue was also the first exchange to develop an Investment Earnings Product. Known as Power Piggy, it allows users to earn a passive income of up to 10% interest on BTC, XRP, ETH, USDT, and other digital assets, later becoming a widespread feature among competitors. This led to an expansion of cefi finance loans and BTR staking services, with defi additions expected to launch in early 2021. As a result, Bitrue will become one of the first hybrid platforms to power both cefi and defi services.

Xcalibra

Xcalibra Xcalibra Photo: Xcalibra

 

Launched in 2019, Xcalibra offers users zero-fee deposits on crypto, including BTC and ETH. It also allows you to buy crypto with 14 different fiat currencies, including smaller markets like the Serbian Dinar, servicing users across more than 100 countries. In 2020, Xcalibra also partnered with Simplex to provide additional credit or debit card payment processing to purchase BTC or ETH.

Built upon the SUN protocol, Xcalibra can handle an ultra-fast 3,000 simultaneous trades per second across a high availability fiber-optic network infrastructure. It also provides first-grade security, with 100% of funds held in multi-signature cold storage, automated backups, DDoS mitigation, IP security, and 2FA.

The exchange also offers Safex Token ( SFT ) and Safex Cash ( SFX ), the dual-coin system for the Safex privacy-focused blockchain, a sister project of Xcalibra described as a “blockchain engine for e-commerce.” It provides an open-source, decentralized marketplace platform where users can build unstoppable web stores and participate in revenue sharing by locking up tokens or mining tokens to turn into products and services.

CoinZoom

Coinzoom Coinzoom Photo: Coinzoom

CoinZoom is a traditional brokerage firm seeking to bridge the gap between crypto and legacy FX, futures, stock, and banking to make digital assets available to the masses. Its institutional-grade trading platform offers multiple currencies and payment methods, allowing users to fund accounts with bank transfers, debit cards, and crypto, providing access to dozens of trading pairs. 

Founded in 2018, with its exchange launch in 2020, CoinZoom is quickly establishing itself as a reputable regulated platform around the world. Having registered as a Money Service Business (MSB) throughout the US, and as a Money Transmitter, available for trading in 48 US states, it is in the final stages of receiving an E-Money Licence in the EU, and is also a registered digital currency exchange in Australia.

CoinZoom also became the first US exchange offering its own Visa debit card and dedicated wallet app with Apple Pay and Samsung Pay connectivity. The crypto card allows users to buy, sell, and trade multiple cryptocurrencies in the US market, with up to 5% cashback on all card purchases and incorporating a free “ZoomMe” instant Venmo-style remittance system in USD or crypto.

Bingbon

Bingbon Bingbon Photo: Bingbon

Bingbon is a relative newcomer to the scene, hitting the headlines this summer following a report from global cryptocurrency data and rating agency TokenInsight, highlighting it as one of the " key emerging exchanges " in the market. In a short space of time, it has taken on the established players to become one of the top three platforms in terms of low taker fees and achieved trading volumes of $30.5 billion in Q2.

Unique amongst its competitors, Bingbon also offers both a demo and social copy trading service. It allows its 100,000 users to practice and manage positions by passively and automatically copying some of the most successful traders on the platform, providing an easier entry into the market for more novice traders. It also stands out from the crowd by integrating forex, global indices, and commodity instruments into the interface.

The platform provides a full range of top digital asset trading pairs, and a recent partnership with the XanPool internationally compliant payment software has also expanded fiat on-ramp capabilities for Bingbon across Southeast Asia. This latest partnership adds to its already extensive gateway for fiat currencies around the world.

Key Differentiators

What all these platforms have in common are key differentiators that help them to stand out in an otherwise competitive and crowded exchange platform field, offering innovative features and services that are unavailable elsewhere.