There are a myriad of ICX listings to choose from, and that makes buying ICX even more confusing for beginners than when ICON first started. We will introduce a few key exchanges for you to choose from, in order of highest ICON (ICX) trading volume according to Coinlore’s list of ICX exchanges.

Binance

Founded in 2017 by Changpeng Zhao, Binance is best known for its high-speed trade execution and reputation. In 2018, Binance started allocating 10% of all trading fees into SAFU, the Secure Asset Fund of Users, to protect users’ funds. The next year, $40 million in Bitcoins were stolen by cyber attackers, but thanks to Binance’s SAFU fund, all losses were immediately covered. 

A few years ago, this option was unavailable to US users. However, Binance.US is now legal in all but 7 states: Connecticut, Hawaii, Idaho, Louisiana, New York, Texas and Vermont. Although they list a lower number of cryptocurrencies than the parent Binance exchange, more than 50 cryptocurrencies are available for purchase/sale on the American site. It also boasts a low trading fee of 0.1%, lower than most other U.S. exchanges such as Coinbase and eToro.

Kraken

An early pioneer cryptocurrency exchange, Kraken was once known as “the Bitcoin exchange.” It is known for being transparent, with prominent graphical analyses and visibly displayed information. Second in trading volume, Kraken offers 50+ cryptocurrencies with a minimum trading amount of $10. Kraken also has a wide client range all over the world except residents of Washington state and New York, as well as 9 other countries including Afghanistan, North Korea, and Tajikistan due to regulations.

However, like all other cryptocurrency exchanges, there are some cons. Although there is a lot of data present for transparency and users’ understanding, it is a bit complex for beginners to understand. Furthermore, Kraken does not allow credit or debit card deposits, which means that all deposits must be made in cryptocurrencies. 

Bittrex

Founded in 2014 by three former cybersecurity engineers Bill Shihara, Richie Lai, and Rami Kawach, Bittrex boasts high security. As of the time of writing, Bittrex has never been hacked, unlike some other large cryptocurrency exchanges. Other advantages of using Bittrex include worldwide availability allowing millions to trade, and the large number of cryptocurrencies available for trade, with 450 pairs for BTC alone.

However, one of the steps to maintain such high security is a highly involved verification login procedure, requiring a government ID and separate “selfie” for personal accounts, and necessary documentation for business accounts. Such high security measures have brought complaints that accounts are being suspended and customer service is slow. 

CoinTiger

Based in Singapore, CoinTiger’s main competitiveness comes from its low fees. The withdrawal fee of 0.0005 BTC is slightly lower than the global industry average of 0.0008 BTC, and the trading fee of 0.15% for takers is also significantly lower than the global industry average of 0.25%.

A con, however, is that CoinTiger lacks transparency. While many platforms provide background information showing expertise about the team, or at least the founder, CoinTiger does not provide any additional information except for the headquarters location. This lowers CoinTiger’s credibility for users.

Quick compare

We can recommend different exchanges based what’s most important to you when trading ICX:

  • Bittrex if you value security
  • CoinTiger if you are looking for the lowest fees
  • Kraken if you value transparency
  • Binance if you have a need for speed

We have introduced the top four cryptocurrency exchange platforms by ICX trading volume to you, but there are many more. Also in the ranking list of ICON exchange platforms are: Gate, Hotbit, LATOKEN, HitBTC, OKEx, Bkex and others. Please refer to Coinlore’s webpage for a full list of alternatives.

Happy trading!