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The best FTX alternative in 2023, as found in our independent testing, is Pionex!
The crypto market is booming. Today, there are more than 300 million crypto investors globally, and the numbers are only increasing.
If you’re wondering where all the crypto activity happens – it happens on online crypto exchange sites.
When you do a simple Google search, you will find a long list of crypto exchange sites to use. One exchange site you might have come across is FTX.
The exchange is popular in the crypto industry as it allows users to trade in crypto derivates like futures, options, and leveraged tokens. FTX sees an average daily trading volume of $50 million.
However, FTX has received a few negative reviews with regard to its customer service, and there are concerns that the exchange is unregulated.
It can be daunting to find a reliable FTX alternative as there are so many exchanges available to the public, each one with its own unique features.
This article lists the top 7 cryptocurrency exchange sites like FTX in order to help you decide which exchange would be the best for you.
Best FTX Alternatives in 2023
Let’s look at the seven best FTX alternatives to try in 2023:
The crypto industry is advancing rapidly, mainly due to the rate at which technology is progressing.
Pionex is an excellent site like FTX to use if you want to stay ahead in the crypto industry.
Pionex combines automation with investment to help you make prudent investments. Pionex’s automated trading bots are programmed to trade in the crypto market even when you are asleep.
- Price: FREE
- Types of Bots: Arbitrage Bot, Grid Trading Bot, Copy Trading, Social Trading, Martingale Bot, Spot-Futures Arbitrage Bot, Rebalancing Bot, DCA, etc.
- Supported Exchanges: Huobi, Binance, Pionex
- Mobile App: iOS & Android
Automated bots minimize the scope of committing human errors in the highly volatile crypto market.
The icing on the cake is that Pionex’s trading bots are free, and you don’t need to program them yourselves.
Pionex is a great platform to learn about trading bots and how they make crypto trading more efficient.
The exchange is growing at an incredible pace, especially in Asia. Since its launch in 2019, the exchange presently registers more than $30 million in daily average trading volume.
Cryptocurrencies That Are Available on Pionex:
- Bitcoin (BTC)
- Litecoin (LTC)
- USD Coin(USDC)
Pros and Cons of using Pionex
Many brokerages entered the crypto game very late, but one brokerage which did not is eToro.
eToro is a crypto exchange that started out as an online forex broker in 2007. The exchange enabled crypto trading in 2014.
eToro is widely popular for its ‘CopyTrader’ functionality, where beginners can copy the moves of top-performing investors on the platform.
CopyTrader has helped many newbies learn how to successfully trade in crypto.
eToro offers trading in only 30 cryptocurrencies but holds the most popular and valuable cryptocurrencies.
Additionally, eToro also has its own eToro Money wallet to transfer your crypto and convert them to coins.
eToro is definitely one of the innovative FTX alternatives, which has a noble aim to inspire the youth to start investing in crypto.
Cryptocurrencies That Are Available on eToro:
- Bitcoin (BTC)
- Ethereum (ETH)
- Binance (Binance Coin)
- Cardano (ADA)
Pros and Cons of using eToro
Another unique FTX alternative is Uphold. Uphold is a multi-asset trading platform that was launched in the United States in 2015 and is currently used in more than 180 countries.
Uphold promotes an “Anything to Anything” trading experience.
It is appreciated for its cross-asset trading platform, where users can use one asset to buy another asset from a different category. For example, you can buy Meta stocks with Bitcoin.
Uphold gives users the space to trade in 70+ cryptocurrencies, 27 national currencies, 50 U.S. stocks, and 4 precious metals (the numbers keep increasing).
Uphold is also one of the first few platforms to integrate with XRP (Ripple) cryptocurrency. The exchange has seen a total of around $4 billion in transactions to date.
Cryptocurrencies That Are Available on Uphold:
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (SOL)
Pros and Cons of using Uphold
Hong Kong-based Binance is a site like FTX but way more popular. The crypto world seems to be the most alive on the Binance exchange, which records the highest trading volumes in the industry – a daily average of $2 billion!
One reason why Binance is so popular in the crypto industry is due to the sheer volume of altcoins on its platform.
Sure, Bitcoin, Ethereum, Tether, etc., are all great, but Binance is where you can see what more the crypto industry has to offer.
Although the company is banned from operating in the U.S. (instead, a separate entity called Binance U.S. is used there), Binance continues to be one of the leading crypto exchanges globally.
Apart from its trading platform, Binance is also known for its own cryptocurrency, Binance Coin (BNB), which was launched in 2017.
BNB has a high market capitalization and is very popular among crypto investors.
Cryptocurrencies That Are Available on Binance:
- Terra (LUNA)
- SHIBA INU (SHIB)
- Fantom (FTM)
- ChainLink (LINK)
- Cosmos (ATOM)
Pros and Cons of using Binance
Coinbase, an FTX alternative exchange, is the first crypto exchange to go public.
The Coinbase IPO caused ripples across the entire market, and after the first day of public trading, Coinbase saw its valuation reach over $80 billion.
Coinbase is the go-to exchange for many investors due to its focus on safety and security. It is one of the most popular crypto exchanges, evident from its 50 million+ user base.
With top-quality educational resources, an exceptional mobile application interface, and a separate platform for advanced users (Coinbase Pro), it’s no surprise that around 12% of the total crypto market capitalization is held on just the Coinbase platform.
Coinbase has earned the trust of users due to the steps it takes to ensure safety, such as storing digital assets in offline cold-storage wallets and maintaining crypto insurances.
Cryptocurrencies That Are Available on Coinbase:
- BTC and ETH (obviously)
- USD Coin (USDC)
- Avalanche (AVAX)
- Crypto.com Coin (CRO)
- TerraUSD (UST)
Pros and Cons of using Coinbase
A site like FTX which equally attracts both – beginners and seasoned traders – is Gemini.
Based out of the United States and operating in more than 60 countries, Gemini is a centralized and regulated cryptocurrency exchange that goes above and beyond to keep its platform secure.
Gemini is the world’s first cryptocurrency custodian registered under the New York banking law.
Gemini aims to bridge the gap between fiat and crypto and make crypto more universally accepted but does so by adhering to rules and regulations.
Gemini is also topped with additional features such as Gemini Earn to earn interest on crypto, Gemini Pay to spend crypto in retail stores, and Gemini Wallet to store your coins.
Gemini also keeps up with the latest trends in the crypto industry and owns the ‘Nifty Gateway’ platform to buy and sell NFTs.
Cryptocurrencies That Are Available on Gemini:
- Polkadot (DOT)
- Polygon (MATIC)
- Uniswap (UNI)
- Bitcoin Cash (BCH)
Pros and Cons of using Gemini
KuCoin is another popular FTX alternative. In fact, it is so popular that 1 out every 4 crypto holders use KuCoin.
The exchange offers more than 500 cryptocurrencies and operates in 400-plus markets. KuCoin boasts of holding altcoins that cannot be found on other exchanges.
KuCoin has registered a whopping $600 billion USD total trade volume and is used by investors from spread across 200+ countries
KuCoin is also well-regarded for its excellent 24/7 customer support.
Additionally, the exchange has posted over 1 million news feed posts to educate the public on everything crypto-related.
KuCoin was one of the very first exchange sites which fulfilled the needs of experienced investors by enabling margin and futures trading.
Cryptocurrencies That Are Available on KuCoin:
- Tron (TRX)
- Verasity (VRA)
- Fantom (FTM)
- TrueUSD (TUSD)
Pros and Cons of using KuCoin
For some of us, life without the internet seems impossible. However, such a life did exist just three decades ago, until the mid-1990s, when the rise of the world wide web completely transformed our lives.
Just like how the internet has become an integral part of our daily lives, many people believe that cryptocurrencies will gain the same importance in the upcoming decade.
If you don’t want to miss out on the opportunities in the crypto industry, this article lists some of the best FTX alternative cryptocurrency exchanges used globally.
Each exchange has its own unique strengths and some limitations, and you might still be confused about what to pick. All of them seem great, right?
If we had to select our favorite exchange, we would choose Pionex.
Based on parameters such as ease of use, choice of cryptocurrencies, customer service, security, trading fees, and automated features, Pionex is the exchange that meets all the requirements.
Here’s why we think Pionex is the best cryptocurrency exchange you should try out in 2023:
- Beginner-friendly, good educational tutorials
- As the crypto market continues to advance rapidly, the built-in automated trading bots will help you stay ahead
- Good security measures
- Wide range of currencies and tokens
- Positive reviews about customer service
- Low trading fees
That’s it from us. The crypto world is all yours; go out there and get it!
We hope that 2023 is a great year for you and your crypto portfolio!