Most people in crypto have their first experience on a centralized exchange (CEX). You need to pass a KYC (or “Know Your Customer”) procedure to register for a CEX. Once that is out of the way, you’re all set and ready to go. The NEAR token is available on many CEXes.
So, we’re going to have a look at the three best CEXes for NEAR.
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Binance
Binance is currently the biggest centralized exchange on the crypto market. According to CoinGecko, they have well over 66 million monthly visitors. Furthermore, their 24-hour volume is $16 billion. That’s eight times more than second placed Coinbase. Binance also uncovered their reserves. However, it doesn’t include an audit. They listed the NEAR token on October 14, 2020.
Binance.US also offers the NEAR token. So, that’s good news for our U.S. readers. You can also earn a passive income with this token on Binance. They offer up to 12.9% in their “Simple Earn” program for locking NEAR for a 120-day period. They also offer 30- (7.8%), 60- (9.8%), and 90- (11.9%) day locking periods. However, the shorter the locking period, the lower the interest.
If you never bought a cryptocurrency on Binance, they offer good guides on how to do this. These guides include videos and text. Here’s the link on how to buy NEAR on Binance. That’s one of the great features that Binance offers. They are customer-friendly and offer plenty of educational materials. Below is a picture of their “Simple Earn” feature for NEAR.
Source: Binance
Coinbase
Coinbase is the second-biggest centralized exchange in the world. This is according to CoinGecko’s information. They have 25.4 million monthly visitors. Their 24-hour trading volume comes in at just under $2 billion. Although they have a third party audit for assets, their reserves are unavailable.
Coinbase doesn’t have any earn options for passive income with NEAR. However, they started a “Funding Learn and Earn with Staking Rewards“ program. To clarify, Coinbase manages NEAR tokens for a three-year period. They collect the staking rewards and use these to offer learn rewards about the NEAR utility.
Just like Binance, Coinbase has an extensive explanation on how to buy NEAR on their platform. Once you use a centralized exchange, you will see that they all work more or less in the same way. This makes it easy and convenient if you end up using many exchanges.
Learning rewards for NEAR are now available in 13 languages! Eligible customers around the world can now receive rewards for learning about NEAR in French, Spanish, Thai, and more. Start now: pic.twitter.com/Or4ogXP3MK
— Coinbase (@coinbase) September 22, 2022
KuCoin
KuCoin takes spot #4 on CoinGecko’s list of CEXes. They currently welcome 6.8 million monthly visitors. Their 24-hour volume is $687 million. Furthermore, they uncovered their reserves. They also have a third party audit for their assets. KuCoin listed NEAR in July 2021.
You can earn a passive income with the token on KuCoin. They currently have a promotion going. For flexible locking, you receive 5.12%. However, for a seven-day period, it goes up to 7.18%, and for a 14-day period, they offer 11.74%.
KuCoin also offers an informative page on the NEAR toke and the Near protocol. For instance, it tells you how you can buy the token on KuCoin. The picture below shows the fixed earn options for NEAR on KuCoin.
Source: KuCoin
Conclusion
We showed you the best three centralized exchanges for the Near protocol and the NEAR token. These are Binance, Coinbase, and KuCoin.
The current price of the NEAR token is $2.15. Over the last 14 days, the token was up by 60.8%. However, over a year, it’s down 87.9%. The market cap is $1.835 billion. Its rank, according to market cap, is 32. There is a max supply of one billion tokens. Out of these, 850 million circulate already.
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