TOP 5 crypto exchanges by reliability and bonuses
Review, selection, and comparison: how do we make a rating?
It is difficult for a layperson to conduct a full analysis of a crypto exchange, as it requires relevant knowledge and qualifications, and most of the functionality remains unclaimed by a significant number of users. The eDrop crypto exchange rating does not aim to assess risks, liquidity, or team qualifications. As our practical experience of trading on different platforms shows, the assessment of the interface and functionality is also quite subjective and individualised - it's easy to get used to this after a few weeks of using the platform.
Our rating is aimed at the category of newcomers who are just getting acquainted with the industry or are looking for an alternative platform. It is based on the assessment of three parameters that an ordinary crypto trader can control: where we lose on commissions, cashback programmes for trading activity, and the size of the initial bonuses for registering on the exchange.
According to the methodology, each parameter will be given a three-level rating:
- A - good.
- B - mediocre.
- C - below average.
Each trading platform will also be assessed by 3 parameters:
- Registration bonuses: the amount of starting bonuses in USD. The grade
A is given for above-average starting bonuses that are easy to obtain.
A grade B is given for the average level of bonuses that are easy to obtain or large bonuses with additional restrictions.
All other bonuses are given a grade C. - Loyalty programme. We evaluate the discount system: we calculate the commission savings for the first 100,000 USDT of spot volume, provided that the holder has 10,000 USD in the local exchange currency.
A is given for above-average savings.
Grade B will be given for an average level of discounts.
Grade C is given for below average discounts. - Trading commission rate: basic rates without discounts are assessed
A for below average commissions.
B for an average level of commissions.
C - with high trading commissions.
Thus, before choosing a crypto exchange, a client will be able to evaluate 3 important parameters that will affect his earnings at the initial stage of getting to know the crypto exchange and will allow him to replenish the trading turnover with the money saved on commissions or bonuses received.
What is a crypto exchange and how to choose one?
All cryptocurrency exchanges are online platforms designed to buy, sell, exchange, or store cryptocurrency for a fee stipulated by staking rules, but there are some differences between them. It is a paid intermediary between a buyer and a seller of cryptocurrencies, providing tools for analysis and trading.
The choice of a crypto exchange depends on your needs: centralized ones are suitable for fast trading, decentralized ones for anonymity, and hybrid and P2P ones for balance.
What are the different cryptocurrency exchanges and how do they differ?
Centralized (CEX)
- They are managed by a company that provides operations and keeps users’ assets.
- An example from the list: Binance, Coinbase, Kraken.
Decentralized (DEX)
- They work without intermediaries on the basis of smart contracts in the blockchain.
- Example: Uniswap, PancakeSwap, SushiSwap.
Hybrid exchanges (HEX)
- Combines the advantages of CEX (speed and liquidity) and DEX (control over assets).
- Example: Nash, Qurrex.
Futures exchanges
- They are focused on trading derivatives (futures and options).
- Example: Bybit, BitMEX.
P2P exchanges
- Provide tools to users by trading directly with each other.
- Example: LocalBitcoins, Paxful.