- Software Testing Help ranked Binance number ten on its recent ranking of exchanges.
- U.S.-based exchange Uphold took the first spot as it allows users to cross-trade between legacy assets and cryptocurrencies.
- Meanwhile, Uphold had a rating of 4.5/5 compared to Binance, which had a 5/5 rating.
A platform focused on vetting software technologies, Software Testing Help, recently ranked the best crypto exchanges on the market, with the largest crypto trading platform, Binance, coming last in the top ten ranking. The platform ranked the exchanges based on the fees they charge users for trading activities alongside their other unique offerings.
Leading the pack was the American crypto exchange Uphold, renowned for allowing crypto market participants to engage in cross-trading between traditional legacy assets and cryptocurrencies.
Specifically, the ranking platform highlighted that Uphold offers trading over 200 digital currencies, metals, equities, commodities, national currencies, and 50+ stocks across more than 150 countries. Also, Uphold is said to facilitate fiat deposits through bank accounts and bank cards, with zero deposit fees and minimal withdrawal fees.
The second and third exchanges on the list were SimpleSwap and Zengo, which earned the spot due to their capability to enable traders to swap currencies instantly with minimal transactional input. Meanwhile, the prominent derivative crypto exchange Bybit ranked fourth despite its 5/5 rating and spot market maker fees of 0%.
Furthermore, Binance, the largest crypto exchange by volume, ranked tenth with a rating of 5/5. The ranking platform highlighted that the fees Binance charges differ across various VIP categories.
It was noted that the range for maker fees is from 0.0750% to 0.0525%, depending on the 30-day trading volume. The volume considered for this range spans from below 50 BTC to 1500 BTC. The taker fees follow the same pattern. Notably, Uphold, SimpleSwap, and Zengo, which ranked top, have a rating of 4.5 to 4.7.
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