7 crypto exchanges with native coins

Throughout the years, there have been several technological breakthroughs that made the crypto industry more adaptable for investors. Among those are crypto exchange platforms that make trading, buying, and selling easier. It is no longer surprising to know that most managed to produce their respective coins as well. 

As interest in cryptocurrencies and the potential of decentralised finance (DeFi) has grown throughout the years, so has the appeal of these online marketplaces. With a lot of available options to encounter, users might find it difficult to traverse the world of cryptocurrency exchanges and choose the best platform for their needs.

If you’re getting started with learning about any remarkable crypto coin exchange and those that have their respective coins, read along and find out more about them:  

What are crypto exchanges? 

Before diving into the specific coin market exchange platforms to keep an eye out for, it is important that you first learn what these exchanges are about. Technically, crypto exchanges let users buy, sell, and trade digital assets like Bitcoin, Ethereum, and other cryptocurrencies. These serve as middlemen between buyers and sellers, offering a safe and practical means of exchanging digital currency.

New users have to register for an account, fill out personal information, and have their identification verified. After setting up an account, users can deposit and start buying and trading as they wish. 

There are two main types of exchanges that people will have to learn more about: centralised and decentralised. A third-party corporation runs centralised exchanges, which are often easier to use and provide services like insurance and customer assistance. Meanwhile, decentralised exchanges are based on blockchain technology and run peer-to-peer, without a middleman or a centralised authority.

Scroll through Gamdom's wide roster of casino games to win some fun prizes

Why do crypto exchanges launch their own coins?

Crypto exchanges usually release their own coins to provide more advantage for their users. These are called exchange tokens and they are often created on a blockchain and used within the ecosystem of the exchange to offer advantages like lower trading fees, access to special features, and involvement in exchange governance.

With the advantages that these coins come with, these exchanges found a great way to draw in more users and boost their trading volume at the same time. If their coin manages to provide the advantages consistently, the value of these exchange tokens may increase over time. 

7 Crypto exchanges with native tokens 

Currently, there are a lot of  crypto exchange with own coins. Some of the most popular are: 

Binance 

Binance, the world’s top crypto coin exchange, launched the Binance Coin (BNB) in 2017 which has grown to be one of the most popular exchange tokens. Holders of BNB can use the token to pay for trading commissions on Binance at a reduced rate. Additionally, Binance aims to buy back BNB in the future so they can burn it, lower the overall supply of BNB, and raise its value.

Gemini 

This popular exchange has launched the Gemini dollar (GUSD), a stablecoin backed by the US dollar as its native coin. Compared to other volatile crypto assets, GUSD is intended to provide a more stable store of value and may be used to trade cryptocurrencies on Gemini and other exchanges. It is also known for its ability to combine price stability with the efficiency of crypto. 

Wager on upcoming sports matches while referring to Gamdom odds

KuCoin

The native token of KuCoin, a Hong Kong-based cryptocurrency exchange, is called KuCoin coin or KuCoin Token (KCS) which has its own ecosystem. Holders of KCS can use the token to pay lower trading fees on KuCoin. KuCoin offers several products and features, including spot and margin crypto trading as well as derivatives and nonfungible token (NFT) services. Owners of this coin can also earn passive profits by holding a certain minimum amount of the asset on the KuCoin exchange. 

FTX Exchange

Another crypto exchange with own coins is FTX Exchange which introduced the FTX Token (FTT). FTT is among the many impressive products found on the FTX exchange. This coin holds value and can be traded to carry out financial transactions. Unlike other exchange coins, this one doesn't run on its own blockchain as it works as an ERC20 in the Ethereum network. Like other coins, several FTTs are repurchased and burned to keep it valuable. 

OKX 

The OK Blockchain Foundation and the Maltese cryptocurrency exchange, OKEx, together launched OKB. The OKEx utility token, or OKB, gives customers access to the unique features of the crypto exchange. 

The coin is used to determine and pay trading commissions, give users access to platform voting and governance, and reward users for holding OKB. Users can also expect this coin to be very beneficial because OKEx is an impressive exchange in terms of liquidity and trading volume.

Uniswap 

The native token of Uniswap is known as UNI and was released in September 2020 through an airdrop to Uniswap users. UNI can be used to reward users for contributing liquidity to the Uniswap liquidity pool as well as to vote on platform governance ideas. One of the notable characteristics of this coin is that its blockchain is open source, which means that anyone can view and contribute to its code. 

Huobi Exchange 

Huobi Token (HT) is the native token of Huobi, a Singapore-based cryptocurrency exchange. Users of this exchange platform received Huobi Token in 2018 as part of a unique giveaway programme that gave tokens away for free. 

Following the distribution, users could trade it and take advantage of the opportunities that can be enjoyed on the Huobi platform. Huobi also has a buyback programme that uses 20% of its quarterly profits to buy back HT and burn it, which reduces the total supply of HT and increases its value.

These are just some of the promising crypto exchanges that managed to launch their own tokens for added convenience for their users. By learning more about these, you may be more interested to stake the native coins of your chosen platforms to make the most out of the advantages that they come with. 

Have fun at Gamdom, the best online crypto casino

Words: Kyra Jimenez