We have never had so many people holding crypto as we do now in our country: there are just over 4.1 million people, according to a recent report from the Federal Revenue Service. To give you an idea, this number is very close to the 5 million who have a CPF at B3 and represents just over a quarter of the number of people who are on fixed income, which is 17 million.
With a market of a non-negligible size, it is important to keep an eye on which are the best existing platforms, to know where new people are likely to put their resources to invest in the crypto market.
The selection criteria for these five exchanges (brokers) were based on a study by Proteste published at the end of March this year and talked about the exchanges responsible for around 90% of all negotiations carried out on centralized exchanges (CEX ) in Brazil.
In addition, the presentation of the five exchanges will be made briefly telling about their origin and also some interesting facts about them. Let's go!
Binance
Founded in 2017, the company of Asian origin is the largest exchange in the world, present in more than 140 countries and with more than 190 million users across the planet.
Just considering physical bases, Binance is in just over 40 countries, including Brazil.
The company's notable difference is that it has a native token, Binance Coin (BNB). Therefore, in addition to all the cryptos present on its platform, anyone who uses this exchange can also have a currency in their wallet that ends up following the company's growth, almost as if it were a share of the company.
And since it is the largest exchange in the world, this doesn't seem like a bad idea.
Bitcoin Market
The Brazilian group 2TM that runs the company began its activities in 2013, and this exchange was then one of the veterans operating in Brazil. In fact, the beginning took place in 2011, but the potential as a business ended up happening two years later.
Another important milestone for the company was an investment received in 2021 from Softbank: R$200 million that served to expand the business ecosystem itself.
The differentiator of Mercado Bitcoin has to do precisely with this set of proprietary businesses that gained traction after Softbank's investment: custody, tokenization, digital account, over-the-counter market for large clients and even an equity crowdfunding platform are all operated by the company .
Foxbit
The beginning of this Brazilian company took place in 2014, making it the second oldest in operation on this list. In 2019, according to the Deloitte/Exame ranking, it was considered the fastest growing company in Brazil - considering the universe of small and medium-sized businesses.
An interesting difference to be noted about Foxbit is the fact that it has a specialized customer service team. The origin of this work probably has to do with the trajectory that will complete a decade in 2024: knowing users of all types and their doubts, they decided to put in place an active help center.
NovaDAX
Started in 2018 and led by the Abakus Group, which is a group of companies of Chinese origin, NovaDAX emerged in Brazil to continue a project here that, globally, has already attracted more than US$300 million in investments and focuses on performance in the technology sector.
Its sister companies are Wecash and Abakus Tech.
An interesting difference of this exchange is its focus on the security of internal transactions and the resources left on the platform itself: the company invests in its own blockchain to record transactions carried out, the assets that remain on it are stored in “cold wallets” multi-signature and, what’s more, the platform has SSL A+ certification.
BityPrice
This is the first case on this list of an exchange marketplace. This is a company a little different from the previous ones: this business born in 2018 places several exchanges in one place, allowing those who use it to find the best token prices in an even more direct way.
The difference that this platform brings is directly related to the fact that it is an exchange marketplace: through partnerships that BityPreço has with some exchanges, it is able to reduce operating fees precisely due to the financial flows it brings to them.
In other words: the customer with more options wins and the partner exchanges who now have more money under management also win.
Criteria for choosing an exchange
In addition to knowing a little more about the cryptocurrency brokers that are most present in Brazilian transactions, it is also worth keeping an eye on some characteristics of all of them:
Security: transactions need to be secure, this aspect is fundamental;
Available platforms: it is important to know, both for ease of use and for understanding the resources, whether you can access the exchange just through a computer/notebook or also through mobile applications;
Fees involved: check, before starting to operate on an exchange, what fees are charged for each movement you make (and, in addition, see if there are any charges for maintaining your account active);
Experience and perception of those who use the services: understanding all the technical aspects announced by the company is a step, but the implementation of this lies in checking with those who already use it whether everything actually happens.
Knowing peculiarities about the five largest exchanges in Brazil - and even getting some additional tips -, you now have more possibilities to operate safely in this market. Now to start!
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Image by proilya174, available on Freepik
