The collapse of FTX has been a very powerful cryptocurrency news this week. Its challenges got here a couple of months after different centralized exchanges (CEX) like Voyager Digital, Celsius, and BlockFi. Therefore, there are issues concerning the security of centralized exchanges and their tokens. Here are a few of the prime CEX tokens to avoid.
Kucoin Token (KCS)
KuCoin is likely one of the greatest crypto exchanges on the earth. In May, the corporate raised $150 million at a valuation of over $10 billion from the likes of Jump Crypto, Circle Ventures, and IDG Capital. It has over 27 million clients. In addition to its exchange, the corporate is exploring turning into a serious participant in different industries just like the metaverse and gaming.
In an announcement this week, KuCoin’s CEO reiterated that the exchange was utterly protected and that it was able to deal with any outflows. He talked a few main hack that occurred within the exchange in 2021, which it managed to cowl internally.
He additionally added that the corporate will launch its Merkle tree proof-of-reserves in a single month’s time. KuCoin Token value has crashed by greater than 6% prior to now 24 hours and over 19.54% prior to now 7 days.
How to purchase KuCoin Token
As KCS is such a brand new asset, it is but to be listed on main exchanges. You can nonetheless buy KCS utilizing a DEX (decentralised exchange) although, which simply means there are a couple of further steps. To purchase KCS proper now, comply with these steps:
1. Buy ETH on a regulated exchange or dealer, like eToro ›
We recommend eToro as a result of it is one of many world’s main multi-asset buying and selling platforms, an exchange and pockets all-in-one with a few of the lowest charges within the business. It’s additionally beginner-friendly, and has extra cost strategies accessible to customers than every other accessible service.
2. Send your ETH to a suitable pockets like Trust Wallet or MetaMask
You’ll want to create your pockets, seize your tackle, and ship your cash there.
3. Connect your pockets to the 1Inch DEX
Head to 1Inch, and ‘join’ your pockets to it.
4. You can now swap your ETH for KCS
Now that you simply’re linked, you will have the option to swap for 100s of cash together with KCS.
OKX (OKB)
OKX is a Seychelles-headquartered firm that serves greater than 20 million customers in over 100 nations. It gives providers like spot, margin, futures, choices, perpetual swaps, DeFi, and OTC buying and selling amongst others.
OKB is the ecosystem’s native token. Like FTX’s FTT, the coin’s holders get buying and selling charge low cost that saves them up to 40% reductions. It can also be used for passive earnings. Also, customers can use it in locations like Coinrule, Cobo, and Bitpie. OKB has a complete provide restrict of 300 million cash and burns lots of them each three months.
How to purchase OKB
Huobi Token (HT)
Huobi Global is likely one of the greatest Chinese exchanges on the earth. The firm was began by Leon Li, a number one entrepreneur within the nation. Huobi skilled substantial progress a couple of years in the past. This occurred as cryptocurrencies grew to become extra in style in China.
Recently, nevertheless, the corporate skilled gradual progress after China banned digital cash. It additionally skilled substantial competitors from the likes of Binance and Coinbase. Last month, Leon exited his stake and bought it to About Capital, a agency related to Justin Sun. While Huobi is doing properly now, there are issues about most offshore exchanges.
How to purchase Huobi Token
KuCoin
Kucoin is a cryptocurrency exchange which provides over 200 cryptocurrencies.
Kucoin has a variety of providers, resembling; a built-in peer-to-peer exchange, spot and margin buying and selling, financial institution degree safety and a variety of accepted cost strategies.
Users can profit from a beginner-friendly interface and comparatively low charges.
Coingate
CoinGate is a Lithuanian-based fintech firm based in 2014. The cost gateway provides cryptocurrency cost processing providers for companies of any sizes. Permission-based account administration, fiat payouts to the checking account and model new electronic mail billing characteristic are just some explanation why CoinGate has turn into a go-to cost processor for a lot of.
