Mark Weaden
For those that are taking their first steps into the cryptocurrency world, one of the most important questions that need to be answered is; which crypto exchange is the best for trading digital assets?
With a near endless list of trading platforms to choose from, it can be difficult to get it right. The above question has a variety of answers and one of the key factors is where the user resides.
We recognise we have readers the world over and wanted to produce an article that would help our community in the East, providing a comprehensive list of cryptocurrency exchanges that cater to the Asian market.
We had our in-house trading experts take a look at a whole host of platforms, analyse the various services and then pick five of the best exchanges. So, without further adieu, below are some of the biggest and best crypto exchanges available in Asia in 2022.
Bitstamp
Bitstamp first went online back in 2011, and as the industry has evolved and grown around it, the company remains one of the longest-standing cryptocurrency exchanges still online today. It provides some great perks, mainly the fact the user experience is so refined, having improved it countless times over the years.
Not only will users find it easy to navigate through the various trading options and listed coins, but they can complete transactions and trades for a minimal fee. Bitstramp offers some of the more competitive trading fees on the continent. On top of that, Bitstramp has focused on ensuring that its customers are satisfied with the service, offering a range of 24/7 customer support channels.
The platform offers just 54 currencies, but those include many of the most of the high volume trading pairs, so the selection will satisfy most users. We would like to see the company add a lending feature, to provide more financial support to customers, as we’ve seen at other major exchanges.
Binance
Binance is one of the most widely-recognised names in the industry, boasting over 365 coins and just shy of 30 million users worldwide. Binance is touted for its low fees and seamless trading features, which has propelled it to the top of the list of platforms for many traders the world over.
The exchange also offers a range of trading options, including unique features that allow users to take long and short positions on various cryptocurrencies. A secure, versatile and simple way to invest coins, using the Binance Lite version of the app, or the Binance Pro version for the more experienced trader.
The range of coins listed is excellent, but what’s better is that Binance users will find that there are regular promotions and competitions to promote certain digital assets. One downside of the platform is the fact there’s no built-in digital wallet available to customers.
LBank
Certainly one of the lesser well-known platforms, LBank first went online back in 2016, with the goal of providing customers with a range of professional cryptocurrency asset management solutions. With a growing userbase, LBank is starting to establish itself in the industry by increasing its trading options.
One of the big takeaways for our team was the fact it’s so easy to navigate the various services, making it quick and painless to carry out transitions. The company is owned and operated by a Chinese company known as Superchains Network Technology Co. Ltd. While it’s based in China, the company services clients across the globe, offering bespoke services clients keep coming back to.
As well as offering a wide variety of crypto assets, the company provides customers with some very competitive trading fees. Though, one thing we should say if you’re an English speaking client residing in Asia, the lack of English language support may be a concern.
Huobi
One of the most well-known Asian exchanges, offering deep liquidity in leading cryptocurrency trading pairs. The exchange supports a staggering number of assets, including more than 400 cryptocurrencies.
The platform is supported by deep liquidity and has excellent yield-generating (earn) opportunities. This is something that has caught the attention of traders and helped this growing brand to establish itself on the world stage. The mobile app is simple and easy to use, it’s also available for both Android and iOS users.
The exchange promotes an experience catered to both experienced and novice traders, which is a mode that can be selected through the mobile and desktop trading platform. One negative point about Huobi is the experiences we’ve read about regarding the company partaking in wash trading, which has damaged its reputation among Asian traders.
CoinFlex
CoinFlex first went online at the start of 2019, building a unique platform that offers spot and margin trading with a wide selection of cryptocurrency pairs and assets to trade. There is a range of investment programs, which are supported by one of the most innovative mobile trading applications we’ve seen in the industry; combining a wallet, exchange, and investor account, in all-in-one.
Another thing we loved about CoinFlex was the company’s transparency, providing customers with a complete archive of all transactions that take place on the network, including those of administrators.
Users will be pleased to know that everyone trades on an even playing field at CoinFlex; with no VIP statuses, unified technical support, and promoting equality of service. We should mention that although we loved the user interface, it can take time to get used to, especially for new users.
Closing Thoughts
The cryptocurrency scene in Asia has grown rapidly in the last few years, with nations like Korea and the Philippines commanding a large portion of the Asian market. But, for traders living on the continent, the choice between an array of great exchanges registered in Asia and one of the more regulated US-based exchanges can be a difficult one.
Having reviewed these top-rated cryptocurrency trading platforms, we’d point towards Binance in terms of adaptability to the user and extensive coin listing. But, for those users that prefer derivatives trading, or working with small to medium cap tokens, then Bitstramp and LBank may be the preferred choice. Whichever it may be, all of the above exchanges are established trading platforms.
