In the cryptocurrency industry, trading Bitcoin and altcoins is crucial to keep most markets alive. Over the past few years, there has been a strong influx of newer and smaller trading platforms most users might not even be familiar with. The following 4 exchanges can all be classified as such, albeit they all try to provide something worth checking out.
Citex (South Korea)
It is safe to say South Korea is currently the most important region for cryptocurrency trading globally. This country allows companies and enthusiasts to create viable business models involving cryptocurrencies. Citex is one of the dozens of exchanges active in the country today. Albeit not as widely known, the platform primarily provides trading of altcoins against Bitcoin, Ethereum, USDT, and the Korean Won.
The company behind this exchange also offers a mining pool that supports a few different currencies right now. All in all, it appears to be a solid business model, albeit its trading volume will need to pick up sooner rather than later. Making that happen is not easy, but given the current trading pairs and overall popularity of cryptocurrency in South Korea, anything could happen.
It would appear STEX is trying to make inroads in Ukraine first, albeit they will also cater to more international users accordingly. On its website, the company positions itself as a stock exchange as it should be. In terms of trading volume, the company seems to note moderate success. This is primarily due to providing Bitcoin, Ethereum, Litecoin, USDT, and xEUR as base trading markets. There are also some custom markets, which add a different dynamic to this trading platform altogether.
It is also worth noting STEX tries to get in on the Initial Exchange Offering industry. Its native Launchpad has successfully concluded sessions for AZ FundChain so far, which confirms there is still plenty of interest in this business model today. Getting more projects to give this exchange a try will remain one of the company’s crucial challenges.
It has been a while since anyone openly talked about exchanges catering to the Chinese cryptocurrency community. That is primarily due to China officially banning the trade of Bitcoin and altcoins in recent years. VBitex is still doing quite well in this regard, as it appears to be a prominent exchange. Over a dozen different trading pairs are accessible, albeit all currencies are traded against VB primarily. Bitcoin clearly leads the charge in this regard, as it noted over $22m in trading volume in the past day. It also appears the platform is in the process of supporting additional coins in the near future, which shows there is still plenty of room for growth.
QBTC (United Kingdom)
The UK has always been an intriguing market when it comes to cryptocurrency trading. That is also why it is home to many different trading platforms facilitating this type of service. QBTC appears to be one of the smaller exchanges in terms of notoriety, but it still generates a decent amount of overall volume every day. It is possible to trade all of the top currencies and most commonly altcoins against USDT and CNYT. Very interesting offerings, considering how they are both issued by Tether.