Top 3 Underrated Cryptocurrency Exchanges: Top Alternatives to Popular Cryptocurrency Exchange Markets

Picking the right cryptocurrency exchange for trading and investing in digital assets may not be the easiest task, especially due to the fact that all exchanges more or less fit different investors’ needs. Moreover, the number of cryptocurrency exchanges is consequently rising with the growing popularity of cryptocurrency and crypto trading and investing. In the process of seeking for the most suitable and most favorable exchange, it may be more than useful to extend your search for a perfect crypto exchange to the list of underrated cryptocurrency exchanges that have little or no media support in general, but have numerous perks to offer on the other hand.

Additionally, the majority of crypto exchanges are focusing on listing only top coins and cryptocurrency, failing to encourage well-covered and carefully developed projects that facilitate tokens with special utilities and defined purposes even though tokens are an important part of the wider cryptocurrency and blockchain ecosystem. Here is the list of top 3 underrated cryptocurrency exchanges that will most possibly fit your needs in terms of crypto investing, exchanging and trading of digital assets.

1. Tokens.net

Tokens.net is deemed “next-generation cryptocurrency trading platform” while the exchange is surely living up to promises listed in technicalities and the way Tokens.net exchange is functioning. The exchange is fully transparent and offers easy and simple way of trading digital assets as well as investing in a long list of popular cryptocurrencies. High trading volumes recorded on a daily basis within a 24-hour timeframe support the fact that despite low-key media coverage, Tokens.net has more than a decent base of users with active accounts on the exchange. Transparency is one of the main perks of Tokens.net, as all crucial data for determining the present value of live-trading cryptocurrencies is available and fully disclosed to users. Users may follow up with real-time live changes, while Tokens.net made sure that users may have easy access to all services available on the exchange, all supported by detailed tutorials and step-by-step guides.

Access to the exchange platform is granted through creating a user’s account while all users get a uniquely generated ID to match the account. Deposits and withdrawals are instant, while some of the most popular digital assets on the platform according to trading volumes are Bitcoin (BTC), Ethereum (ETH) and Dynamic Trading Rights (DTR), which is actually a type ERC20 token, native to the network and created to allow Tokens.net users to cover their trading fees by using DTR units.

Granted access to Tokens.net platform unlocks live changing metrics from the market of digital assets. In addition, Tokens.net traders may follow up with trading pairs they prefer the most and create watchlists for a personalized trading experience. Another perk that comes with opening a user’s account on Tokens.net exchange is eligibility to take a crypto-based loan and use it for trading, investing or withdraw it for other purposes.

Users can also create requests for buying and selling digital assets while monitoring the status of all created requests. Tokens.net also has a Market Making Bot, which is a version of market maker created as an intelligent software that serves the purpose of making trades or set of trades in accordance with a predetermined set of rules. Tokens.net exchange also offers programs for listing of ICOs and tokens, where one of the listing programs is based on community votes.

Pros:

  • Transparency in terms of cryptocurrency metrics and data
  • Utter accessibility to market data and Tokens.net exchange services
  • Personalized experience and user-friendly interface
  • Fully transparent exchange market
  • Highly available information and real-time market changes
  • Additional services such as Crypto Loan service
  • Traders can focus on crypto assets they are most interested in and follow live changes
  • Native token DTR can be used for covering fees
  • Low fees for cryptocurrency trading and exchanging
  • Safe and scalable
  • Traders may follow up with live changes by markets and trading pairs or follow individual cryptocurrencies
  • Market Making Bot designed to follow instructions on making trades and set of trades

Cons:

  • Tokens.net Market Making Bot is capable of creating a large profit within a short period of time, but you need to make sure to use this feature in a proper way
  • Some of the trading tools available on the exchange might be too complicated for less experienced traders

2. Waves DEX

Waves DEX, or Decentralized Exchange, takes pride in decentralized nature of Waves exchange platform, while offering two versions of the exchange platform. You can trade cryptocurrency and make investments via desktop app designed by the exchange or use web version. Sine Waves represents a decentralized exchange, users can take advantage of all the perks that centralized crypto markets have, while retaining all rights to their funds and accounts given the fact that the exchange is created without having a central authority. Waves practices decentralization in its core, which means that the funds of users cannot be meddled with by the exchange, alongside having decentralization posing as a perfect security strategy, making the exchange practically and virtually unhackable.

Decentralization has its downfall in this case scenario, which is also summed up in a warning made by Waves DEX in the process of opening an account on this exchange – since the trading platform is decentralized, users’ passwords are not being saved by any central authority and as such can’t be retrieved in case of being lost or stolen. That means that users are personally taking care of their account passwords. The exchange is also a part of a greater ecosystem - Waves platform – where you can create your own tokens, while Waves DEX has its own native token called Waves (WAVES).

Real-time data is accessible through DEX trading platform, where all tools for trading are available for account users.

Pros:

  • High accessibility and availability of trading tools
  • Live-changing and real-time cryptocurrency data
  • DEX is a part of a greater blockchain-based ecosystem
  • Has web and desktop version of the exchange
  • Ledger wallet support
  • Low and fixed trading fees

Cons:

  • There is no central authority to turn to in case your account password is lost or stolen
  • Low liquidity
  • Withdrawals limited to cryptocurrency
  • The lack of regulations due to decentralized architecture

3. ETHfinex

ETHfinex exchange is a part of a greater blockchain-based ecosystem, Ethereum, and it represents another decentralized exchange where central authority doesn’t exist. ETHfinex is presented on their official website as a place to “Discuss, Trade and Learn”, relying on the strength of the ETH community and beyond. Deposits made in amounts larger than 1,000$ are free on the exchange, however, smaller deposits are eligible for small deposit fee on depositing popular cryptocurrencies such as Ethereum (ETH) and Bitcoin (BTC).

ETHfinex is actually a subsidiary of Bitfinex, one of the top popular exchange markets created back in 2013, in addition to focusing on allowing users to sell and buy ERC20 type tokens. Trading fees are not fixed unlike it is the case with Waves DEX and Tokens.net exchange, and are being determined within a course of every 30 days. The amount paid in fees for trading digital assets is being determined based on the volume of trades each user places within a given period of time. In this equation, “makers” will pay lower fees as opposed to “takers”, while loyalty fee may also apply. In case a user encounters any type of problem, despite the decentralized nature, there is a support center for submitting tickets. The trading platform also hosts live-changing metrics from the market of digital assets, updating changes in market trends in real-time.

Pros:

  • Margin trading is available
  • A type of a hybrid decentralized exchange with trustless trading available as an option for account owners
  • Customer support available in the form of a help center where users can submit tickets when encountering issues
  • Accepts both fiat and cryptocurrency-based payments
  • A wide range of ERC20 type tokens for trading and exchanging
  • Advanced price charts available for more experienced crypto traders and investors

Cons:

  • Mostly suitable for ERC20 type token trading
  • Doesn’t have fixed fees for trading
  • Has a history of lack of scalability where ID verification took weeks to be completed as opposed to hours or days on other platforms
  • The parent exchange of ETHfinex, Bitfinex, has a history of being hacked