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Reviews, Fees, and Security Compared
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What are Crypto Exchanges?
A cryptocurrency exchange is like an online brokerage for cryptocurrencies, tokens (virtual assets created through existing blockchains), and other digital assets. Many of these exchanges offer investment options for active traders looking to buy, sell, or hold digital assets like bitcoin, ether, and litecoin.
There are two types of crypto exchanges: centralized and decentralized. The most common type, centralized exchanges, are platforms owned and operated by private companies. Decentralized exchanges are peer-to-peer marketplaces that operate on the blockchain.
Best Crypto Exchanges for 2024
- Coinbase: Best cryptocurrency selection
- Crypto.com: Best for mobile trading
- Abra: Best for low fees
- Kraken: Best for futures and margin traders
- Cash App Investing: Best for bitcoin
If you don’t want to use your exchange’s built-in wallet (if applicable), you’ll need to set up an external crypto wallet, such as one of the best bitcoin wallets, to store your assets securely.
Compare the Top Cryptocurrency Exchanges
The best cryptocurrency exchanges work similarly to the best stock trading apps, offering competitive fees and resources on digital marketplaces like mobile or desktop. Crypto-enthusiasts can easily buy, sell, and store popular digital currencies like bitcoin or Ethereum alongside traditional investable securities.
Here are the best cryptocurrency exchanges for low fees, human advisor access, and more as picked by Business Insider editors in 2024.
Best Cryptocurrency Selection
Coinbase
Insider’s Rating
A five pointed star
A five pointed star
A five pointed star
A five pointed star
A five pointed star
4.35/5
Fees
0.50% spread for buy/sell transactions; transaction fee from $0.99 to $2.99; up to 0.60% for Coinbase Pro and Coinbase Advanced Trade
Pros
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Buy, sell, or store more than 170 cryptocurrencies like bitcoin and dogecoin
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Educational investment resources, mobile access, digital storage, and customer support
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Low account minimums
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Can earn rewards for certain cryptocurrencies
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Coinbase card lets you spend crypto or USD anywhere and earn crypto rewards; can deposit your paycheck into your account and convert from USD to crypto with no fees
Cons
-
con icon
Two crossed lines that form an ‘X’.Pay more for lower balances
-
con icon
Two crossed lines that form an ‘X’.High trading and transaction fees
-
con icon
Two crossed lines that form an ‘X’.Limited staking options
Product Details
- Promotion: Get $5 of bitcoin when you join Coinbase; earn up to $200 when you set up a new account and make your first purchase
- Features: Coinbase Earn rewards, Coinbase Pro advanced account, user-controlled storage, stablecoins, staking, and institutional trading tools.
- App store rating: 4.7 iOS/ 4.1 Android; Coinbase Pro: 4.7 iOS/ 4.1 Android
- Awards: Named Best Prime Broker in Hedgeweek’s annual European Digital Assets Awards
As one of the largest U.S.-based cryptocurrency exchanges, Coinbase is a user-friendly digital marketplace offering hundreds more coins and tokens. Coinbase caters to all kinds of traders, including sophisticated investors, institutions, and high-net-worth clients through its Pro, Advanced Trade, and Prime platforms.
Coinbase has a low account minimum to get started and offers wallet storage for digital assets. Coinbase’s beta NFT trading platform currently offers no transaction fees for creators and collectors.
What to look out for: Coinbase is currently under investigation by the SEC. Also, if you regularly use margin accounts to trade, Coinbase isn’t the best choice. It charges high fees.
Best Cryptocurrency Exchange for Mobile Trading
Crypto.com
Insider’s Rating
A five pointed star
A five pointed star
A five pointed star
A five pointed star
A five pointed star
4.35/5
Fees
Maker fees 0.0750% – 0% and taker fees are 0.0750% – 0.0500%; 0% credit/debit card purchases for first 30 days of opening account
Pros
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.350+ cryptocurrencies; support for more than 20 fiat currencies
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Separate NFT platform
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Earn up to 5% cash back on purchases with Crypto.com Visa Card
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.You can set up price alerts and price movement alerts to stay updated on more than 250 assets
Cons
-
con icon
Two crossed lines that form an ‘X’.Crypto.com Exchange isn’t available to U.S. residents; U.S. investors limited to the mobile app
-
con icon
Two crossed lines that form an ‘X’.Crypto.com isn’t available to residents of New York
-
con icon
Two crossed lines that form an ‘X’.High credit and debit card transaction fees
Product Details
- Promotion: Get up to $2,000 for every friend you refer and 50% of their trading fees.
Crypto.com is a popular global crypto trading platform with a user-friendly mobile trading app featuring various reward opportunities and DeFi wallet storage. Although Crypto.com offers a web-based exchange in addition to its mobile trading platform, U.S. investors cannot access the online exchange.
Crypto.com supports more than 350 cryptocurrencies, including bitcoin, ethereum, dogecoin, and others. It also accepts 20+ fiat currencies. The Crypto.com mobile app provides Visa Card perks, reward-earning opportunities, crypto-tracking features, and price alerts.
What to look out for: U.S. investors won’t have access to Crypto.com’s more advanced trading features, such as margin trading, OTC trading, staking, and trading bots.
Best Cryptocurrency Exchange for Low Fees
Abra
Insider’s Rating
A five pointed star
A five pointed star
A five pointed star
A five pointed star
A five pointed star
3.62/5
Account Minimum
$5 minimum deposit; Minimums vary per cryptocurrency
Fees
0% (Spread fee built into exchange rates)
Pros
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.No fees to trade 75+ cryptocurrencies (excluding spread fee)
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Can borrow against crypto holdings, with payback interest rates of 0% to 9.95%
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Can earn up to 10% interest on crypto or USD stablecoins
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Support in 150+ countries with access for 50+ fiat currencies
Cons
-
con icon
Two crossed lines that form an ‘X’.No longer available to new US investors
-
con icon
Two crossed lines that form an ‘X’.High fees for Visa or Mastercard transactions
-
con icon
Two crossed lines that form an ‘X’.Limited transparency on the exact exchange spread rates
Product Details
- Features: 100+ cryptocurrencies, crypto-backed loans, staking, and support for traders in 150+ countries.
- App store rating: 4.6 Apple/4.3 Android
Abra is a global crypto exchange serving individual and institutional traders in over 150 countries. Along with the fact that Abra doesn’t charge any trading fees (though it earns income from the spread between different assets), the exchange stands out due to its expansive selection of crypto products and features.
This includes trading for 70+ cryptocurrencies, interest accounts that let you access over-the-counter (OTC) trading, and multiple educational guides for beginners. Its OTC services also give institutional clients access to interest-earning accounts, loans, and one-on-one account support.
What to look out for: Visa and Mastercard transactions have high fees.
Best Cryptocurrency Exchange for Futures and Margin Traders
Best for futures and margin traders
Kraken
Insider’s Rating
A five pointed star
A five pointed star
A five pointed star
A five pointed star
A five pointed star
4.35/5
Account Minimum
Depends on cryptocurrency
Fees
0% – 0.26% (1.5% for instant buy, sell, or convert orders)
Pros
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Can exchange more than 100 crypto assets
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Low account minimums and fees
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Variety of educational resources and tutorials on cryptocurrencies
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Over-the-counter (OTC) trading and account management support available
Cons
-
con icon
Two crossed lines that form an ‘X’.No 24/7 phone customer support
-
con icon
Two crossed lines that form an ‘X’.Kraken’s futures mobile platform isn’t currently available in the US
-
con icon
Two crossed lines that form an ‘X’.Not a personal wallet service
Product Details
- Features: More than 100 cryptocurrencies, margin and futures trading, OTC trading, account management for HNW individuals and institutional clients, multiple trading platforms, educational resources, and staking rewards.
- App store rating: 4.7 iOS/ 4.2 Android
Kraken offers more than 200 cryptocurrencies and a handful of fair currencies with various options for retail and institutional investors. It is available in more than 190 countries worldwide.
Kraken provides investors with access to trading on margin and futures trading opportunities. With a margin account, you can borrow up to five times your account balance to trade crypto assets. Futures trading is available for bitcoin, ether, litecoin, bitcoin cash, and ripple.
What to look out for: Kraken’s futures mobile platform isn’t currently available to US traders. In addition, only institutional and high-net-worth clients can use the exchange’s consultation and account management services.
Best Cryptocurrency Exchange for Bitcoin
Cash App Investing
Insider’s Rating
A five pointed star
A five pointed star
A five pointed star
A five pointed star
A five pointed star
3.99/5
Icon of check mark inside a promo stamp
It indicates a confirmed selection.
Perks
Account Minimum
$0 ($1 for access to fractional shares)
Pros
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Banking and investing on one platform
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Commission-free trading of stock and ETFs
-
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.Gift stocks to friends and family
Cons
-
con icon
Two crossed lines that form an ‘X’.Doesn’t offer IRAs, custodial accounts, or margin trading
-
con icon
Two crossed lines that form an ‘X’.Limited resources and tools
-
con icon
Two crossed lines that form an ‘X’.Doesn’t offer cryptocurrencies other than bitcoin
-
con icon
Two crossed lines that form an ‘X’.Doesn’t trade mutual funds, options, or futures
Insider’s Take
Cash App Investing is a beginner-friendly platform for banking and investing on the go. If you’re looking for simplified, low-cost trading, Cash App may be worth looking into. However, other low-cost investing apps for beginners offer more investment options, more account options, and better resources.
Cash App Investing is a user-friendly trading platform offering commission-free trades of more than 1,800 stocks and ETFs. When you link or Cash App balance in the mobile app, novice crypto investors easily buy, sell, send, and receive bitcoin. You can even designate a specific portion of your paycheck to be converted into bitcoin when you set up direct deposits.
Send bitcoin to your friends fee-free with Cash App’s Lightning Network features. Cash App also provides an in-app custodial wallet to store your bitcoin assets. You can start trading with as little as $1.
What to look out for: Cash App Investing only offers bitcoin. Consider other top cryptocurrency platforms if you want to invest in other cryptocurrencies like ether or dogecoin.
How to Choose the Best Crypto Exchange
The best crypto exchanges offer competitive pricing for various cryptocurrencies beyond bitcoin and ether and prioritize user experiences with an intuitive interface, clear platform navigation, and mobile app access. Trustworthy crypto trading platforms are licensed and compliant with industry regulations.
You should choose a cryptocurrency exchange that aligns with your preferences, like your risk tolerance, time horizon, preferred trading features, and investment goals. Additionally, ensure the exchange you pick matches your preferred trading style. For example, if you’re a hands-off trader, you should pick a platform equipped with automated trading features and tools.
FAQs About Crypto Exchanges
In general, cryptocurrency exchanges are not as secure or as closely regulated as other investment platforms. The crypto world has been subject to numerous frauds, scams, and bankruptcies. Most crypto platforms have an F rating from the BBB. But that doesn’t guarantee whether the platform will be good for you. Some exchanges, like Coinbase, have built strong trustworthiness reputations by compiling with regulatory practices and enforcing security protocols.
You must have a crypto wallet to buy and sell cryptocurrencies through an exchange. Most platforms have built-in wallet storage. If you don’t want to use your exchange’s built-in wallet (if applicable), you’ll need to set up an external crypto wallet, such as one of the best bitcoin wallets, to store your assets securely.
For tax purposes, cryptocurrencies are considered property by the IRS, similar to stocks and bonds. Typically, you’ll be taxed when you sell or trade crypto for more than you originally bought it. The tax rate varies depending on how long it was held before you sold it. Short-term capital gains of less than a year are taxed at your regular income tax rate. Long-term gains are generally taxed at a lower rate but can change based on your income level.
Why You Should Trust Us: Our Expert Panel For The Best Cryptocurrency Exchanges
Rebecca Zissar/Business insider
We interviewed the following investing experts to see what they had to say about cryptocurrency exchanges.
What are the advantages/disadvantages of investing through a cryptocurrency exchange?
Sandra Cho:
“The advantages to investing through a cryptocurrency exchange are the ease of trading and functionality. These exchanges are built for cryptocurrency are are made as such.
“The disadvantages, however, are important. Recently, several cryptocurrency exchanges have gone under, and investors have lost significant amounts of money. Given that this industry and asset class is still relatively new, there are unique risks that are nor present in traditional investments like stock and bonds. Investing through a cryptocurrency leaves you at the will of the exchange itself, which has a non-zero possibility of going defunct.”
Tessa Campbell:
“Investing through a cryptocurrency exchange offers several advantages, including access to real-time market data and research, trading strategies, and multiple cryptocurrency options to add to individual brokerage accounts, retirement accounts, and more.
“Some disadvantages include high trading fees, limited resources, and frequent fraudulent activity. These platforms are often criticized for their inadequate security measures, risky trading, and subpar customer support.”
Who should consider investing through a crypto exchange?
Sandra Cho:
“Investors with an extremely high-risk tolerance and those that understand the inherent risks in investing through cryptocurrency exchanges may want to consider using an exchange. However, they should be wary of the risks and the lack of oversight that is apparent in the industry.”
Tessa Campbell:
“You may want to consider investing through a crypto exchange if you’re primarily focused on trading crypto and other decentralized currencies. Moreover, you’ll want to have a high investing risk tolerance and a hands-on trading approach.”
Is there any advice you’d offer someone who’s considering investing in cryptocurrencies through a crypto investment app?
Sandra Cho:
“I would tell them to first potentially reconsider dealing with cryptocurrencies at all. The asset class is extremely volatile and unregulated. If they insisted, I would then tell them to do their research on the relevant exchanges and choose the one that is safest and best backed. As mentioned, many crypto exchanges have gone under recently, which is a huge risk to the investor.”
Tessa Campbell:
“Make sure you fully understand the risks involved in purchasing highly volatile cryptocurrencies like bitcoin, ether, or dogecoin. You should also ensure that the cryptocurrency exchange you’re investing through is free of scams, bad business practices, or public scandals. One way to check this is with the Better Business Bureau’s grading system.”
Our Methodology: How We Rated the Best Cryptocurrency Exchanges
We applied Business Insider’s rating methodology for investing platforms to over a dozen exchanges to find the best options for cryptocurrency availability, low fees, asset/account security, user interfaces, and mobile access. Investment platforms are given a rating between 0 and 5.
We also explored whether exchanges offered services both for individuals and institutions, and we paid close attention to other account options like staking rewards, margin trading, and Stablecoin support.
Tessa Campbell
Investing and Retirement Reporter
Tessa Campbell is an investing and retirement reporter on Business Insider’s personal finance desk. Over two years of personal finance reporting, Tessa has built expertise on a range of financial topics, from the best credit cards to the best retirement savings accounts.ExperienceTessa currently reports on all things investing — deep-diving into complex financial topics, shedding light on lesser-known investment avenues, and uncovering ways readers can work the system to their advantage.As a personal finance expert in her 20s, Tessa is acutely aware of the impacts time and uncertainty have on your investment decisions. While she curates Business Insider’s guide on the best investment apps, she believes that your financial portfolio does not have to be perfect, it just has to exist. A small investment is better than nothing, and the mistakes you make along the way are a necessary part of the learning process.Expertise: Tessa’s expertise includes:
- Credit cards
- Investing apps
- Retirement savings
- Cryptocurrency
- The stock market
- Retail investing
Education: Tessa graduated from Susquehanna University with a creative writing degree and a psychology minor.When she’s not digging into a financial topic, you’ll find Tessa waist-deep in her second cup of coffee. She currently drinks Kitty Town coffee, which blends her love of coffee with her love for her two cats: Keekee and Dumpling. It was a targeted advertisement, and it worked.
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Over the past 24 hours, Jupiter and JasmyCoin emerged as the top gainers among the top 100 crypto assets, while Bittensor and Mantra plunged as the top losers.
Top Winners
Jupiter
Jupiter (JUP) led the charge among the biggest gainers on July 27.
At the time of writing, the crypto asset had surged 12.6% in the past 24 hours and was trading at $1.16. JUP’s daily trading volume was hovering around $282 million, according to data from crypto.news.
JUP Hourly Price Chart, July 26-27 | Source: crypto.news
Additionally, the cryptocurrency’s market cap stood at $1.56 billion, making it the 62nd largest crypto asset, according to CoinGecko. Despite the recent price surge, the token is still down 42.6% from its all-time high of $2 reached on Jan. 31.
Jupiter functions as a decentralized exchange aggregator that allows users to trade Solana-based tokens. The platform also offers users the best routes for direct trades between multiple exchanges and liquidity pools.
In addition to being a DEX aggregator, Jupiter has expanded into a “full stack ecosystem” by launching several new projects, including a dedicated pool to support perpetual trading and plans for a stablecoin.
JasmyCoin
JasmyCoin (JASMI) has increased by 12% in the last 24 hours and is trading at $0.0328 at press time. JASMY’s daily trading volume has increased by 10% in the last 24 hours, reaching $146 million.
JASMY Hourly Price Chart, July 26-27 | Source: crypto.news
The asset’s market cap has surpassed the $1.5 billion mark, making it the 60th largest cryptocurrency at the time of reporting. However, the self-proclaimed “Bitcoin of Japan” is still down 99.3% from its all-time high of $4.79 on February 16, 2021.
JASMY is the native token of Jasmy Corporation, a Japanese Internet of Things provider. The platform seeks to merge the decentralization of blockchain technology with IoT, allowing users to convert their digital information into digital assets.
The initiative was launched by Kunitake Ando, former COO of Sony Corporation, along with Kazumasa Sato, former CEO of Sony Style.com Japan Inc., Hiroshi Harada, executive financial analyst at KPMG, and other senior executives from Japan.
Kaspa
Kaspa (KAS) saw a 100% increase in trading volume and an 8% increase in price over the past 24 hours, trading at $0.19 at the time of publication.
KAS Hourly Price Chart, July 26-27 | Source: crypto.news
According to data from CoinGecko, Kaspa now ranks 27th in the global cryptocurrency list, with a circulating supply of approximately 24.29 billion KAS tokens and a market capitalization of $4.59 billion.
Kaspa is a cryptocurrency designed to deliver a high-performance, scalable, and secure blockchain platform. Its unique Layer-1 protocol includes the GhostDAG protocol, a proof-of-work (PoW) consensus mechanism that enables faster block times and higher transaction throughput compared to standard blockchains.
Unlike Bitcoin, GhostDAG allows multiple blocks to be created simultaneously, speeding up transactions and increasing block rewards for miners.
Bonk
Bonk (BONK) is the only one coin meme which made it to this list of biggest gainers and jumped 8.6% in the last 24 hours. Trading at $0.000030, the Solana-based meme coin’s market cap has surpassed $2.1 billion, surpassing Floki (FLOKI), another competing dog-themed coin with a market cap of $1.78 billion.
BONK Hourly Price Chart, July 26-27 | Source: crypto.news
BONK’s daily trading volume hovered around $285 million. However, BONK is still down 33.5% from its all-time high of $0.000045, reached on March 4.
Bonk, a meme coin that rose to prominence in 2023, has contributed significantly to Solana’s value increase amid the meme coin frenzy.
Bonk started out as a simple dog-themed coin. It has since expanded its features to include integration with decentralized finance. The project also partners with cross-chain communication protocols, NFT marketplaces, and various other cryptocurrency ecosystems.
BONK trading pairs are now listed on major exchanges including Binance, Coinbase, OKX, and Bitstamp.
The big losers
Bittensor
Bittensor (TAO) was the biggest loser among the 100 largest crypto assets, according to data from CoinGecko.
At the time of writing, TAO, the native token of decentralized AI project Bittensor, was down 5%, trading around $344. The crypto asset had a daily trading volume of $59 million and a market cap of $2.43 billion.
TAO 24 Hour Price Chart | Source: CoinGecko
Bittensor, created in 2019 by AI researchers Ala Shaabana and Jacob Steeves, initially operated as a parachain on Polkadot before transitioning to its own layer-1 blockchain in March 2023.
Mantra
Mantra (OM) fell 6%, trading at $1.13 at press time. The digital currency’s market cap fell to $938 million. Additionally, the 82nd largest crypto asset has a daily trading volume of $26 million.
OM Price Hourly Chart, July 26-27 | Source: crypto.news
Mantra is a modular blockchain network comprising two chains, Manta Pacific and Manta Atlantic, specialized in zero-knowledge applications.
Coat
Coat (MNT) also saw a 2.4% drop in price, now trading at $0.8413. Currently, Mantle has a market cap of around $2.75 billion, which ranks 36th in the global cryptocurrency rankings by market cap, according to price data from crypto.news.
MNT Hourly Price Chart, July 26-27 | Source: crypto.news
Over the past 24 hours, MNT trading volume also fell by 6%, reaching $240 million.
Mantle, formerly known as BitDAO, is an investment DAO closely associated with Bybit. The MNT token is essential for governance, paying gas fees on the Mantle network, and staking on various platforms.
Built on the Ethereum network, Mantle provides a platform for decentralized application developers to launch their projects. It has become particularly popular for GameFi applications, leading to the formation of an internal Web3 gaming team.
Markets
Bitcoin Price Drops to $67,000 Despite Trump’s Pro-Crypto Comments, Further Correction Ahead?
Pioneer cryptocurrency Bitcoin has registered a 1.13% decline in the past 24 hours to trade at $67,400. Despite a strong pro-crypto stance from US presidential candidate Donald Trump at the Bitcoin 2024 conference, this massive selloff has raised concerns in the market about the asset’s sustainability at a higher price. However, given the recent three-week rally, a slight pullback this weekend is justifiable and necessary to regain the depleted bullish momentum.
Bitcoin Price Flag Formation Hints at Opportunity to Break Beyond $80,000
The medium-term trend Bitcoin Price remains a sideways trend amidst the formation of a bullish flag pattern. This chart pattern is defined by two descending lines that are currently shaping the price trajectory by providing dynamic resistance and support.
On July 5, BTC saw a bullish reversal from the flag pattern at $53,485, increasing its asset by 29.75% to a high of $69,400. This recent spike followed the market’s positive sentiment towards the Donald Trump speech at the Bitcoin 2024 conference in Nashville on Saturday afternoon.
Bitcoin Price | Tradingview
In his speech, Trump outlined several pro-crypto initiatives: he promised to replace SEC Chairman Gary Gensler on his first day in office, to establish a Strategic National Reserve of Bitcoin if elected, to ensure that the U.S. government holds all of its assets. Bitcoin assets and block any attempt to create a central bank digital currency (CBDC) during his presidency.
He also claimed that under his leadership, Bitcoin and cryptocurrencies will skyrocket like never before.
Despite Donald Trump’s optimistic promises, the BTC price failed to reach $70,000 and is currently trading at $67,400. As a result, Bitcoin’s market cap has dipped slightly to hover at $1.335 trillion.
However, this pullback is justified, as Bitcoin price has recently seen significant growth over the past three weeks, which has significantly improved market sentiment. Thus, price action over the weekend could replenish the depleted bullish momentum, potentially strengthening an attempt to break out from the flag pattern at $70,130.
A successful breakout will signal the continuation of the uptrend and extend the Bitcoin price forecast target at $78,000, followed by $84,000.
On the other hand, if the supply pressure on the upper trendline persists, the asset price could trigger further corrections for a few weeks or months.
Technical indicator:
- Pivot levels: The traditional pivot indicator suggests that the price pullback could see immediate support at $64,400, followed by a correction floor at $56,700.
- Moving average convergence-divergence: A bullish crossover state between the MACD (blue) and the signal (orange) ensure that the recovery dynamics are intact.
Related Articles
Frequently Asked Questions
A CBDC is a digital form of fiat currency issued and regulated by a country’s central bank. It aims to provide a digital alternative to traditional banknotes.
The proposal for a strategic national Bitcoin reserve is a major confirmation of Bitcoin’s legitimacy and potential as a reserve asset. Such a move could position Bitcoin in a similar way to gold, potentially stabilizing its price and encouraging other countries to adopt similar strategies.
Conferences like Bitcoin 2024 serve as essential platforms for networking, knowledge sharing, and showcasing new technologies within the cryptocurrency industry.
Markets
Swiss crypto bank Sygnum reports profitability after surge in first-half trading volumes – DL News
- Sygnum says it has reached profitability after increasing transaction volumes.
- The Swiss crypto bank does not disclose specific profit figures.
Sygnum, a Swiss global crypto banking group with approximately $4.5 billion in client assets, announced that it has achieved profitability after a strong first half, with key metrics showing year-to-date growth.
The company said in a Press release Compared to the same period last year, cryptocurrency spot trading volumes doubled, cryptocurrency derivatives trading increased by 500%, and lending volumes increased by 360%. The exact figures for the first half of the year were not disclosed.
Sygnum said its staking service has also grown, with the percentage of Ethereum staked by customers increasing to 42%. For institutional clients, staking Ethereum has a benefit that goes beyond the limitations of the ETF framework, which excludes staking returns, Sygnum noted.
“The approval and launch of Bitcoin and Ethereum ETFs was a turning point for the crypto industry this year, leading to a major increase in demand for trusted, regulated exposure to digital assets,” said Martin Burgherr, Chief Client Officer of Sygnum.
He added: “This is also reflected in Sygnum’s own growth, with our core business segments recording significant year-to-date growth in the first half of the year.”
Sygnum, which has also been licensed in Luxembourg since 2022, plans to expand into European and Asian markets, the statement said.
Markets
Former White House official Anthony Scaramucci says cryptocurrency bull market could be sparked by regulatory clarity
Anthony Scaramucci, founder of Skybridge Capital, says the next cryptocurrency bull market could be sparked by a new wave of clear cryptocurrency regulations.
In a new interview On CNBC’s Squawk Box, the former White House communications director said he and two other prominent industry figures traveled to Washington, D.C. to speak to officials about the dangers of Sen. Elizabeth Warren and U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler’s hardline approach to cryptocurrency regulation.
“Mark Cuban, myself, and Michael Novogratz were in Washington a few weeks ago to speak with White House officials and explain the dangers of Gary Gensler and Elizabeth Warren’s anti-crypto approach. I hope that message gets through…
“Overall, if we can get regulatory policy around Bitcoin and crypto assets in sync, we will have a bull market next year for these assets.”
Scaramucci then compares crypto assets to ride-hailing company Uber, saying regulators were initially wary of the service but eventually decided to adopt clear guidelines due to public demand.
“Remember Uber: Nobody wanted Uber. A lot of regulators didn’t want it. Mayors and deputy mayors didn’t want it, but citizens wanted Uber and eventually accepted the idea of regulating it fairly. I think we’re there now.”
The CEO also says young Democratic voters believe their leaders are making the wrong choices when it comes to digital assets.
“I think President Trump’s move toward Bitcoin and crypto assets has shaken Democrats to their core, and I think very smart, younger Democrats are recognizing that they are completely off base with their positions, completely off base with these SEC lawsuits and regulation by law enforcement, and now they need to get back to the center.”
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Michael Saylor – “A bitcoin revolution has started! Many lives will change forever”
“Buy the fucking DIP! That’s why this accident is all noise ” – Planb & Raoul Pal
Biotechnological agenda exposed! This is purely diabolical … – The shocking revelation of Whitney Webb
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DeFi9 months ago🏴☠️ Pump.Fun operated by Insider Exploit
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Videos9 months ago“We will enter the ‘banana zone’ in 2 WEEKS! Cryptocurrency prices will quadruple!” – Raoul Pal
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Tech9 months agoBitcoin’s Correlation With Tech Stocks Is At Its Highest Since August 2023: Bloomberg ⋆ ZyCrypto
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Tech9 months agoEverything you need to know
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