We have written several articles about Aptos, and that’s because there’s a great demand for it. Aptos has a growing community. On Twitter alone, the project has over 380k followers, which is impressive.
Aptos’s launch was widely anticipated in the community, mostly for its technical strengths. Most believed Aptos would exceed existing Layer 1s because it uses some parts of the former Diem blockchain and Move, a Rust-based programming language developed by Meta.
The hype around Aptos was its speed and alleged low costs. The team claimed that Aptos would be capable of handling more than 130K transactions per second using Block-STM, its parallel execution engine. This would lead to lower costs for users.
As you already know, crypto exchanges are places where you can buy, sell, and convert different cryptocurrencies. They play important roles in how the system works. We have previously written about decentralized exchanges where you can buy APT, the native token of the Aptos network. However, we’ll focus on centralized exchanges for the APT token in this article.
What’s the Difference Between Centralized and Decentralized Exchanges?
Centralized exchanges like Binance mean a single entity is in charge. So, the centralized body running the exchange is responsible for the stability and health of the company. Think of a centralized exchange (CEX) as a regular, traditional institution on the New York Stock Exchange.
In contrast, the decentralized exchange gives you, the user, more control and offers lower transaction fees. Giving you control of your assets means they avoid some regulatory burdens. Both types of exchanges have their advantages.
Now let’s talk about the top three CEXs for APT.
Binance
Talking about CEXs always begins with Binance. And that’s not a surprise because Binance is the biggest exchange by market cap. It also has a global presence. Binance supports a wide-range of cryptocurrencies and has millions of users.
Binance has a strong focus on altcoin trading. It allows for crypto-to-crypto trading in over 360 cryptocurrencies and virtual tokens, some of which include:
- Bitcoin (BTC)
- Ether (ETH)
- Litecoin (LTC)
- Dogecoin (DOGE)
- BNB
Like most exchanges, Binance’s services include:
- Trading
- Listing
- Fundraising
- De-listing
- Withdrawing cryptocurrencies
Binance also supports projects seeking to launch their tokens via the initial coin offering (ICO).
User feedback is one of the main things that informs direction at #Binance.
The team recently launched a feedback site where you can submit ideas, suggestions etc. Please make use of it🙏
This blog shows some recent improvements based on your feedback.https://t.co/0Weq1OxJ5H
— CZ 🔶 Binance (@cz_binance) April 27, 2023
BingX
BingX has a strong presence in Asia. It claims to provide users with a secure and fast trading platform for derivatives. It also supports over 30 trading pairs and is used in several countries.
BingX primarily focuses on enabling users to buy and sell digital assets on a single platform. Some of the services it provides include:
- Instant spot exchanges
- Derivatives pairs
- A fiat financial system for digital currencies
Users of BingX have more access to traditional markets. Also, retail traders can make predictions about changes in the price of commodities, foreign exchange, and indices on the crypto markets.
DigiFinex
DigiFinex has established itself as a major platform for cryptocurrency trading exchanges. Traders can trade spots, perpetual swaps, and purchase cryptocurrency using fiat money. DigiFinex also has a user-friendly interface.
Reportedly, millions of people use this platform. Also, there are many advantages to using the DigiFinex trading platform for traders. First, in comparison to other exchanges, it supports more than 100 cryptocurrencies trading. So users can choose from the best or engage in trading using a variety of digital assets.
Note that using centralized exchanges has its own risks. For example, the collapse of FTX in November is a prime example of how bad things can get if a CEX fails. It is advised that you do your own research before using any platform. Ensure the platform isn’t facing threats from regulators or being easily targeted by scammers.
As of this article’s publication, APT trades at $9.99.
⬆️ For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.
⬆️ Our popular Altcoin Buzz Access group generates tons of alpha for our subscribers. And for a limited time, it’s Free. Click the link and join the conversation today.
