Best Alternative To BankCex 2023 Updated Free Guide

The underlying BankCEX platform has been deployed on 30+ exchanges already. It supports all devices and multiple languages, offering a seamless user experience. Whe have solid relationships with industry leaders, simply look at the list of investors and advisors who are willing to stand behind the platform.

1. Decentralized Exchanges (DEXs) (Best Alternative To BankCEX )

1- Tokenlon ( BankCEX Alternatives Without Verification )

Tokenlon is a decentralized exchange built on top of 0x protocol. It aims to provide a secure, reliable and seamless trading experience to the masses. The trade limit of each token or pair is dynamic adjusted depending on the ability of market makers or token’s liquidity.

The Tokenlon trade occurs on-chain, so the transaction time depends on the speed of the Ethereum network. Most trading transactions are completely within 60s. They supports adjusting the price slippage tolerance from 1% to 3%. Tokenlon supports adding other addresses as payees.

2- Solarbeam (BankCEX Alternatives)

Solarbeam is a decentralized exchange, providing liquidity and enabling peer-to-peer transactions on the Moonriver Network. They are currently the leading DEX on the network. The goal is to provide a comprehensive and convenient, one-stop platform for the cryptocurrency community.

Solarbeam allows users to trade directly from their wallets, rather than trading through a third party – tokens never leaving your custody means it is 100% owned by you. Lower trading fees make Solarbeam an attractive platform to trade with.

Higher liquidity also helps provide a broad range of support to various facets of the crypto community, and to continuously adapt to the market by continuing to provide value to both token holders and the community.

3- MojitoSwap( BankCEX Alternatives )

Mojito Finance is a decentralized exchange running on KCC, with lots of features that let you earn and win tokens. It is fast, cheap and easily accessible as it is not difficult to use. It has currently opened Trade ,Bar (Farm) and Wine Pools. Other functions are on the way. And it will continue to launch interesting functions such as Cocktail Tickets and NFT in the future.

MJT (MojitoToken) is the native token of MojitoSwap, with a total circulation of 100,000,000. MJT is a practical and governance token with rich application scenarios. Holding MJT can not only allow investors to participate in liquidity mining and borrow money to obtain rewards, but also make them owning the governance rights of the future Mojito DAO organization.

MJT (MojitoToken) is a platform governance token issued by MojitoSwap based on the KRC20 protocol. Users who hold MJT can participate in various activities provided by MojitoSwap, such as liquidity mining, lending, etc. They also have the governance rights of the future Mojito DAO organization.

Best Centralized Exchange Of BankCEX Alternative

Deepcoin

Deepcoin is a Singapore-based centralized exchange (CEX) offering spot trading, derivatives, wealth management, DeFi investment, and other comprehensive financial services. It is reportedly registered in the Republic of Seychelles with a company number of 206025. Deepcoin claims to have obtained three major authoritative regulatory licenses, including the United States NFA, the United States MSB, and the Canadian MSB.

The crypto derivatives trading platform is primarily aimed at the Asian market. It offers a handful of innovative products like Super Saving, Lucky Money, and Options FX. The exchange platform was founded by Eagle Huang. The CEO had over ten years of digital experience and was the head of a wealth management company with more than $7bn of assets under management.

2- Another popular alternative to BankCEX is DigiFinex

Ranked top 10 globally by volume and liquidity. The in-house developed security system with multiple fail-safe layers, giving your cryptocurrencies bank-graded protection. They offer a variety of asset management products including Crypto Quant Fund, Crypto Loan and Flexible term for you to flexibly manage your assets. Sit back and watch your assets grow.

DigiFinex is the world’s top 10 crypto exchange by trading volume and liquidity, offering spot, leverage, perpetual swap trading, and fiat to crypto trading.. They are widely loved for being stable, secure and easy to use. They break the boundaries for blockchain by offering insightful and engaging content to educate users, for experts and newbies alike.

3- Independent Reserve is another alternative to BankCex

Launched in October 2013, Independent Reserve is a centralized exchange based in Sydney Australia. It supports AUD, NZD, and USD fiat pairs and OTC. It is regulated by AUSTRAC under the Anti Money Laundering Counter-Terrorism Financing Act 2018. Its geographical focus is on Australia, New Zealand. and Singapore. Citizens from 30+ countries are permitted to join.

In January 2020, it launched in Singapore and aims to become a licenced operator with MAS. Independent Reserve describes itself as a pro-regulation exchange with a focus on trust and security. In February 2019, Independent Reserve announced it had become the first cryptocurrency exchange in Australia to offer insurance coverage to its clients. It offers a KPMG tax calculator, an auto trading platform, Bloomberg price feeds, and API trading.

With mandatory KYC and tiered trading fees, its services are available to individuals, businesses, trusts and Self-Managed Superannuation Funds.

PowerTrade

Options focused derivatives exchange offering USD portfolio margined accounts with stable or coin collateral. At PowerTrade, they believe your trading platform should be as mobile and dynamic as you. That’s why we’re offering a mobile-first trading experience that’s designed to be simple, fast, and focused on your success.

The PowerTrade Fuel Token (PTF) is a DAO token which governs the treasury that covers PowerTrade traders in the unlikely event of a black swan. This DAO is an alternative to exchange insurance funds that are generally funded via liquidation and trade fees and often outperform the market during downturns.

Token holders can also benefit with PowerTrade by staking their token to receive reduced trading fees and staking rewards. Participate in the governance of the DAO treasury and decide on cover events by voting as a DAO.

About Crypto Exchange

A cryptocurrency exchange is a digital platform that allows users to buy, sell, and trade cryptocurrencies, such as Bitcoin, Ethereum, and many others. These exchanges provide a marketplace for buyers and sellers to come together to exchange cryptocurrencies using different fiat currencies or other cryptocurrencies.

There are different types of cryptocurrency exchanges, including centralized and decentralized exchanges. Centralized exchanges are run by a company or organization that controls the exchange, while decentralized exchanges are run by a decentralized network of users, without any central authority controlling the exchange.

Some of the key features that users look for in a cryptocurrency exchange include ease of use, security, liquidity, availability of different cryptocurrencies, and low transaction fees. It’s important to note that investing in cryptocurrencies is a high-risk activity, and users should be aware of the risks and do their own research before making any investments.

Why BankCex Popular

BankCex is a centralized cryptocurrency exchange that allows users to buy, sell, and trade a variety of cryptocurrencies. Some of the factors that may contribute to the popularity of BankCex include:

1. Security: BankCex has implemented various security measures, including SSL encryption, 2FA authentication, and cold storage of user funds to protect users’ accounts and assets.
2. User-friendly interface: BankCex provides an easy-to-use platform with an intuitive user interface that allows even novice users to trade cryptocurrencies with ease.
3. Wide range of cryptocurrencies: BankCex supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, and many others.
4. Low fees: BankCex charges low fees for trading and withdrawing cryptocurrencies, which makes it more affordable for users to trade.
5. Good customer support: BankCex provides 24/7 customer support to users through various channels, including email and live chat.

Overall, these factors may contribute to the popularity of BankCex among cryptocurrency traders and investors. However, it’s important to note that users should do their own research and carefully consider the risks before using any cryptocurrency exchange.

Why BankCex Not Good Choice For Some Users

There could be several reasons why BankCex may not be a good choice for some users. Here are some possible reasons:

1. Centralized Exchange: BankCex is a centralized cryptocurrency exchange, which means that it is controlled by a central authority. Some users prefer decentralized exchanges, which operate on a peer-to-peer basis and are not controlled by any central authority.
2. Restricted Jurisdictions: BankCex is not available to users in certain jurisdictions due to regulatory restrictions. Users from these regions may not be able to access BankCex and may need to look for alternative exchanges.
3. Limited Payment Options: BankCex supports a limited number of payment options for deposits and withdrawals, which may not be suitable for some users who prefer to use other payment methods.
4. Lack of anonymity: BankCex requires users to complete a KYC (Know Your Customer) verification process to use the platform, which means that users need to provide personal identification information. Some users prefer to remain anonymous when trading cryptocurrencies and may not feel comfortable providing personal information.
5. High Withdrawal Fees: While BankCex’s trading fees are low, some users may find the withdrawal fees to be higher than other exchanges.

It’s important for users to do their own research and carefully consider their needs and preferences when choosing a cryptocurrency exchange. Different exchanges have different features, fees, and security measures, and what works for one user may not work for another.

How to Choose best crypto exchange?

Choosing the right crypto exchange can be a daunting task, as there are many options to choose from and each has its own set of pros and cons. Here are a few things to consider when choosing a crypto exchange:

1. Security: The security of your assets should be a top priority when choosing an exchange. Look for an exchange that has a history of good security practices and has never been hacked.
2. Jurisdiction and regulations: Some exchanges are not available in certain countries due to regulatory restrictions. Make sure the exchange you choose is available in your country and complies with the local laws and regulations.
3. Fees: Compare the trading fees of different exchanges to see which one offers the lowest fees. Also, consider the deposit and withdrawal fees as well.
4. Payment methods: Some exchanges only accept cryptocurrencies for deposit and withdrawal, while others also accept bank transfers, credit cards, and other methods. Make sure the exchange you choose offers a payment method that is convenient for you.
5. Coin offerings: Not all exchanges offer the same coins and tokens. Make sure the exchange you choose offers the coins you want to trade.
6. Trading volume: Exchanges with high trading volume typically have more liquidity, which means it’s easier to buy and sell coins without affecting the market price.
7. User-friendly interface: Look for an exchange that has a user-friendly interface and offers helpful features such as charting tools and order book.
8. Customer support: Good customer support is important in case you have any issues or questions. Look for an exchange that offers multiple ways to contact customer support, such as email and live chat.
9. Reputation: Look for an exchange that has a good reputation in the community, and has been around for a while.
10. Remember to do your own research, read reviews and check the reputation of the exchange before making any decision.

BankCex Alternative Conclusion

When choosing an alternative to BankCex, it’s important to consider factors such as security, fees, range of cryptocurrencies offered, and user experience. Users should also ensure that the exchange is available in their jurisdiction and offers payment methods that they are comfortable using. It’s recommended that users do their own research and compare different exchanges before making a decision.