5 of the best alternatives to FTX
- FTX dominated crypto headlines in recent days and not for a good reason.
- Even if FTX survives these turbulent times, the once powerful brand name will take a major hit.
- Here are five alternatives to FTX for investors to consider.
FTX and Sam Bankman-Fried were two names that withhold the test of time in this turbulent crypto market. Sam, better known simply as SBF, was (is? can still be?) somewhat of a legend in the industry.
The 30-year old ex-multi billionaire was not too long ago buying Super Bowl ads for his FTX cryptocurrency exchange empire that may soon prove to be a thing of the past.
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Yet despite what seems like the absence of any sort of positive cryptocurrency news this year, investor appetite for digital assets remains strong. Investing in cryptocurrency is the complete opposite of trading Apple options a day ahead of earnings for a quick win. This is for the very long-term.
That said, here are five alternatives (in no particular order) to FTX for investors to consider. Don’t see what you like below? Check out our full suite of broker reviews here.
Crypto exchange giant eToro (read the full Invezz review here) boasts an impressive offering as it also provides exposure to other asset classes. The company reached a valuation north of $10 billion when it inked a deal to hit the public markets with a Betsy Cohen-backed SPAC entity. While eToro shelved its plan to list its stock on an exchange, the company’s reputation remains as strong today as ever.
Gemini in some ways is similar to FTX as it was founded by another notable crypto figure: the Winklevoss twins. Gemini is well known for being security conscious and friendly to beginner investors. One of the key highlights of Gemini’s review is that it is regulated in the US which gives it an extra layer of legitimacy among investors.
Binance announced a strategic investment in FTX back in 2019 and this week it could buy the remaining stake. Regardless of the outcome of the recent FTX – Binance merger talks (which isn’t looking too hot according to our latest reporting) , Binance itself operates the largest cryptocurrency exchange by some metrics which makes it one of the top choices for investors.
Bitfinex stands out in the crowded cryptocurrency trading universe and mostly markets itself as a platform for intermediate to experienced traders. Founded in 2012, Bitfinex has withstood the test of time (10 years is an eternity in the crypto market) by offering advanced tools that are needed to navigate through this difficult crypto environment.
5. Trading 212
Trading 212 is well regarded in the crypto trading universe as it has the regulatory licenses to keep all investors happy. The London-based company is fully licensed to operate in the UK and has been approved by the FCA in 2013. Trading 212 is a popular option for cryptocurrency investors and traders that want to diversify their portfolio across other asset classes, including stocks, forex, gold, commodities, among others.