Fearful of Scams? Learn How To Find Reliable Crypto Exchanges

Fearful of Scams? Learn How To Find Reliable Crypto Exchanges

7 months ago

Wondering how to find an exchange to make sure the rug doesn’t get pulled FTX-style? Let us help you out!

Fearful of Scams? Learn How To Find Reliable Crypto Exchanges

Table of Contents

You know how to find crypto alpha on CoinMarketCap. And you know how to escape FOMO with coin pages.

But where do you trade to make sure the rug doesn’t get pulled FTX-style?

This quick guide will explain how to find the perfect exchange as per your preferences.

Go Exchange (S)Hopping!

Click on the exchanges tab at the top of the CMC page to open the shop window for all exchanges:

By default, you will land on the page with the top crypto spot exchanges, so let’s explore that first:

CoinMarketCap ranks all exchanges based on a trust score. It includes factors like:

You can also check how many markets an exchange lists, and how many coins are traded on it. And, of course, which fiat currencies are supported.

Dive Deep Into the Exchanges

We all know what happened to the-exchange-that-shall-not-be-named. So having reserves is paramount to the safety and security of an exchange. Click on any exchange to open the detail page with its financial reserves and token allocation:

You can also investigate the depth of its markets and the most popular trading pairs:

That is a lot of info before you ever opened the exchange itself.

But it doesn’t end there.

Want To Trade Some Derivatives?

If you’re feeling adventurous or want to use leverage, you need to turn to trading derivatives. Click on the “Derivatives” tab to get info on the top derivatives exchanges:

Maker and taker fees and open interest will be among the most interesting nuggets of info here. But if centralized exchanges are not your thing, you can also find a suitable decentralized exchange

The DEX of Your Dreams

CEXes have their benefits but come with some downsides, too. If you’re more of a DEX trader, click on the DEX tab to see the top decentralized exchanges:

You can filter by different blockchains and liquidity types. The exchange page details what markets are popular and liquid:

There is also a tab for lending protocols if you want to provide liquidity.

How To Choose Your Perfect Exchange

What do with all this info?

That depends on you!

Do you want highly liquid exchanges? Then filter for liquidity.

Do you care about low fees? Sort by maker and taker fees.

Any piece of information you could need is covered. But, as always, do your own research and do not rely exclusively on the exchange rankings. Crypto is unpredictable, so make sure you’re aware of the risks.

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