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What’s your favourite CEX app to use and why?

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Hey everyone. I’m sure we all know by now that keeping a lot of funds on exchanges is generally seen as a bad idea. However it seems that for now at least CEXs are the most prominent and accessible way to transact your crypto, especially from mobile devices and even more especially for basic traders.

But which one should we use? There’s seemingly thousands of them, all claiming to be the biggest or best. It’s only once you’ve used it for a while (and potentially lost funds over and above what you should have done) do you know if you like it. Or if you’ve used several exchanges do you realise where the pitfalls lie from one to another.

Another hurdle is where you live in the world, some exchanges will offer superior services in certain regions and terrible offerings elsewhere.

Personally, and living in the UK, I’ve now used 3 of the big exchanges and I’m still not happy with any of them as an overall package.

Binance: This was my starting CEX. Massive company, easily the biggest exchange by volume. Easy to use, cheap fees and lots of coins listed. However getting funds to them is very difficult, I can no longer ramp off with them or stake in the UK. So I moved onto-

Coinbase: Another big name, UK friendly (for now) with easy on and off ramping. They also offer learning rewards which are a nice and easy way to get some free crypto. Staking available although limited without their Web3 wallet which is a UI nightmare on mobile. Plus there’s fees on pretty much everything, even my monthly DCA which is a reasonable sum of lost coins on each purchase. Plus their Visa card is lacklustre. So now I’m on-

Crypto.com app: Nice interface, native coin, good staking APRs and a cool selection of Visa cards and perks although with a questionable entry price, even the daily missions and diamond rewards a quirky. However there’s potentially high spread fees which are hard to discern and no real way to exchange without their sister app crypto.com/exchange and the balances aren’t intertwined so you’d have to send funds from one and another to use as a pair.

So, what is the true winner of the CEX wars and why? Which aspects of certain exchanges would you like to see mirrored on others?

submitted by /u/Slippytoe
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