Introducing Kyrrex, the New Coinbase Alternative

Kyrrex is the New Coinbase Alternative
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If you're looking to join the cryptocurrency craze, an exchange will likely be your primary gateway. Decentralized exchanges let you buy and sell crypto anonymously, but most of them have a steep learning curve. Centralized exchanges, on the other hand, require some form of verification but are more user-friendly.

By several metrics, Coinbase is regarded as the best cryptocurrency exchange in the world. Over the years, the platform has certainly done its bit to make digital currencies more accessible. A few platforms have sprung up to give Coinbase a good challenge. As the industry matures and the space becomes more competitive, the drawbacks of Coinbase become more apparent.

This article focuses on one of the newer alternatives to Coinbase—the Kyrrex exchange. We look at why some users might want to switch from Coinbase/Coinbase Pro. We will also explain about the advantages of the Kyrrex crypto exchange over Coinbase and extra features that users can enjoy on the platform.

The Centralized Exchange

A cryptocurrency exchange works similarly to your local brokerage. These platforms provide easy access to the tools of cryptocurrency trading. You can buy and sell a wide selection of digital currencies like Bitcoin, Ether, Cardano and Dogecoin. You can make purchases with your credit card and select from a range of trading pairs.

There are dozens of cryptocurrency exchanges but not all of them will suit your needs. The best ones combine ease of use and strong user protection with low fees and a sizable number of supported currencies.

A centralized exchange is a middleman that matches verified buyers with verified sellers and allows cryptocurrency trades to take place. It is a trusted third party and somewhat similar to how a bank operates as a repository and broker of fiat transactions.

These exchanges are important to the cryptocurrency industry because they bring a pool of willing traders together. They also hold digital tokens on behalf of the customer, who no longer needs to worry about forgetting their private keys. They are also the primary access points to the cryptosphere.

Aside from these primary functions, centralized exchanges have other features that vary by platform. Thus, the exchange you settle for should ideally offer the kind of products you want.

How to Choose the Right Exchange

If you want to move on from Coinbase, your next steps are very important. New exchanges spring up all the time. However, there's zero guarantee of prolonged success. In fact, a few celebrated exchanges ended up folding up after some years.

With this in mind, you should look out for certain features when you check out an exchange. These features will help you decide whether the platform is right for you.

1. Security

How secure is the platform? How does it react to hacks and other attacks? Checking the history of an exchange's response to security breaches will tell you a lot.

No matter how big an exchange is, it is not totally immune to hack attempts. Some exchanges are more successful than others in managing the aftermath. A few have insured customer funds against successful breaches. Some refunded users, others weren't able to; and others went out of business altogether.

2. Trading Volume

Trading volume provides a measure of an exchange's popularity in the crypto world. A high trading volume means more active users on the platform and signifies a strong exchange. You should also check the volume of transactions in the currencies you're most invested in. If the volume is low compared to other platforms, it might be evidence of community distrust in the exchange.

3. User Experience

There's no point in using an exchange if its features are too complicated for you to use. Before taking the leap, read reviews and watch videos to get a general idea of how the exchange works. Then decide if it's too complicated or just perfect for you.

4. Supported Currencies

If you just want to invest in Bitcoin and Ethereum, you may as well choose your exchange at random. Most platforms have those two as the major tradable currencies.

However, if you're looking to buy and sell low-cap altcoins, your choice of exchange will impact the coins you can trade for. You should find major alts like Cardano, Litecoin, XRP, Solana and Dogecoin on most platforms. Beyond those, check that the platform has what you want before you sign up.

Exchanges are always adding new and old tokens all the time. Even so, not every exchange will support every asset. Peruse the list of coin offerings first. Naturally, you can broaden the range of coins you can buy by signing up to multiple exchanges.

5. Legal Status in Your Region

Sadly, Coinbase isn't available in my country. This can happen with the exchange you like so be sure of its status in your legal jurisdiction before you sign up. Sometimes, this happens because of regulatory requirements. Sometimes, the exchange simply hasn't expanded to the area (yet).

Different governments have different rules regarding cryptocurrency exchanges. Not every exchange will meet these rules in every country. Some create country-specific versions of the platform that comply with government regulation in that country.

Rules can even differ within a country so be sure of the facts before you start using a platform. Nothing hurts more than signing up and then discovering that you can't buy and sell within the jurisdiction.

In rare instances, a certain digital currency has a disputed legal status and so isn't available. For example, XRP, the token from Ripple labs, is currently banned on US-based exchanges because of an ongoing legal case.

Why Switch From Coinbase?

 Switch From Coinbase

Coinbase always features among the top cryptocurrency trading platforms. If you're in it for the experience, Coinbase is a good place to begin and slowly learn about digital token trading. Its simple interface and robust security mechanisms make it attractive for beginners. Moreover, you can directly link your bank account to the platform and transfer money directly from fiat to crypto. If that isn't your cup of tea, you can use any of credit card, PayPal, and wire transfer.

Despite these stellar features, Coinbase can be a frustrating experience in other aspects. Here's a rundown of some issues that have caused some users to stay away from the platform.

1. Service Disruptions

Coinbase has had its fair share of service disruptions in times of extreme price movements. This makes it less than ideal for those who wish to quickly exit the market or convert their holdings to less volatile assets.

During the 2017 bitcoin boom, and again when the coin reached ATH in April 2020, Coinbase hit some unexpected downtime. The difference between boom and bust in the crypto space is often measured in seconds. No wonder many investors have gone to other platforms for more reliable services.

2. High Fees

The transaction fees on Coinbase are less than encouraging for many users, especially beginners and big investors. According to the fee schedule, trades less than $10 in value attract a flat fee of $0.99. Trades between $10-25 net the exchange $1.49 in fees per transaction. Trades of $50-200 attract a $3 charge and higher trades will cost the trader 1.5% of the total transaction value. Many people regard the fees as on the high side and hunt for cheaper alternatives.

3. Stringent Verification

Many crypto investors who prefer anonymity are put off by the platform's strict verification and security protocols. Coinbase's KYC is perhaps the strictest among popular exchanges and not everyone is happy about the increased surveillance.

There is a multi-day delay when moving funds from Coinbase to an external wallet. There's also a waiting time when moving sold funds to a bank account. This goes against the crypto ideal of fast transactions and has rubbed many day traders the wrong way.

4. Limited Number of Tokens

For those who just want to buy some popular coins, Coinbase is fine. Otherwise, you might be disappointed. Despite its prominence as a leading exchange, the platform has a limited range of tradable assets.

If you love to hunt for lower-cap coins, Coinbase is probably not your cup of tea. There are less than 150 cryptocurrencies you can buy on Coinbase right now. That's a disappointing number, given that there are at least half a thousand good crypto tokenized crypto projects in existence.

Kyrrex, the Coinbase Alternative

Kyrrex, the Coinbase Alternative

Any new exchange inevitably claims to be the next best thing since sliced bread. But Kyrrex exchange has a genuine chance to reinvent cryptocurrency buying and selling. Imagine a digital token platform that serves as a one-stop shop for cryptocurrency trading, fiat-to-crypto exchanges, crypto-based shopping, and online banking.

These are lofty goals. Ultimately, the platform will be judged by its main product—offering centralized exchange services.

Kyrrex inserts itself in the gap between the world of traditional finance and crypto-based products. It offers a comprehensive set of attractive features that crypto beginners and veterans alike will love. On the Kyrrex platform, there's something for everyone.

Top Perks of Kyrrex

Positioning a platform as a competitor to Coinbase and other established cryptocurrency platforms is a pretty big deal. Kyrrex exchange wants to simplify cryptocurrency trading for everyone, everywhere.
It aims to do this by providing a platform where fiat transfer, crypto buying and selling, crypto storage, and converting crypto back to fiat money takes place. This cuts out some annoying steps from the cryptocurrency process and saves the user time, money and convenience.

At the core of the Kyrrex ecosystem is the Kyrrex Exchange, its flagship product. It is a relatively new crypto exchange with diverse trading features and positions itself as a flexibility-focused crypto platform with great UI/UX. Users can trade popular coins like Bitcoin, Ethereum and Dogecoin easily. Kyrrex offers improved services for private and institutional clients to get the best crypto experience.

Tokenized Exchange

As a top Coinbase Alternative, Kyrrex has something that the former doesn't have—a native token. As seen with the example of Binance and Binance Coin, a native coin with strong fundamentals can help to drive growth for the platform.

Having its own token automatically unlocks some advantages for Kyrrex. Users can pay transaction fees in the platform's KRRX tokens and enjoy reduced rates while doing so. Token holders are also eligible for a wide range of extra benefits.

Low Fees

Transaction fees on Kyrrex compare favorably among the top trading platforms. Compared to Coinbase, trading fees on Kyrrex are significantly cheap. Trading fees start at 0.15% for general trading and go as low as 0.08% for institutional trading. Furthermore, users who stake the native KRRX token get additional discounts of up to 60% depending on the staked quantity.

Robust Security

Kyrrex understands the importance of security to investors and has taken necessary steps to secure user funds. The platform features advanced anti-hacking mechanisms. The cutting-edge hybrid cryptographic encryption provides robust safeguards against malicious activity.

Holders Earn More Crypto

Investors can earn more bang for their crypto bucks in several ways on the Kyrrex platform. Holders of BTC, ETH, USDT or the native token KRRX can earn up to 14.5% APY through a fixed Exchange Deposit Program. The service holds crypto for private and institutional users for a fixed period and pays interest on the deposit.

Staking the native tokens is another way to earn more crypto on the Kyrrex exchange. Users who stake up to 500 KRRX tokens and refer at least 3 people to the platform are rewarded with a secret bonus.

Growing Portfolio of Tokens

Kyrrex figures to support a wide range of popular cryptocurrencies. You will be able to buy, sell and store all the well-known coins on this platform.

And if you want to explore fresh and underappreciated cryptocurrencies, the Kyrrex listing platform will promote additional tokens at regular intervals. This will be subject to rigorous analysis of each asset's underlying technology, adoption rate, market performance, and growth potential. Only the best and most promising coins will be added to the growing basket of supported assets.

Conclusion

As you can see, Kyrrex is one of the top Coinbase alternatives in 2021 and beyond. You can buy your favorite coins, store your tokens, enjoy significant trading discounts, and access lots of other features not mentioned here. So, should you decide to move on from Coinbase or find a supplementary exchange, the Kyrrex exchange is worth a look.

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PrimePool, in partnership with Huobi!

We are excited to announce the return of PrimePool, in partnership with Huobi! For now, users can lock their HT tokens for any length of time before the event ends to earn a reward of up to 1,208,898 KRRX tokens.

The event will run from 12:00 UTC on January 18, 2022, to 12:00 UTC on January 25, 2022, so make sure to participate before the event ends.

Event: Win Over 1 Million KRRX Tokens!

Specifically, you can lock any number of HT tokens from 100 units and receive an additional reward in KRRX tokens for doing so (the reward is calculated according to a formula that you can find on the event page at the link below).

This is a great opportunity for users to experience the upgraded PrimePool and win grand rewards. With simple rules, this event is open to all!

To join the event, all you need to do is visit the link provided and follow a few steps.


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Huobi Welcomes KRRX Token to its Ranks with a Bang!

We are happy to announce that Huobi, one of the biggest and most reputable cryptocurrency exchanges in the world, has listed the KRRX token!

When can I start making KRRX deposits and trade?

Huobi has already enabled deposits for KRRX holders. You can start making KRRX deposits right now!

KRRX spot trading (KRRX/USDT) will open when the deposit volume meets the requirements for market trading on Huobi. Once the trading volume threshold has been met the commencement date of KRRX/USDT spot trading will be officially announced.

KRRX withdrawals will open at 12:30 (UTC) on January 18

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The KRRX token provides a seamless way to interact with services and features on the Kyrrex network. All KRRX holders are entitled to discounted fees, staking benefits, and other special advantages.

KRRX is connected to many inner projects as well as linked to numerous initiatives, including significant partnerships in the sports industry. Currently, Kyrrex intends to expand agreements with MotoGP rider Jorge Martin, Moto2 young talent Pedro Acosta, and paddle athlete Martin Di Nenno.

Moreover, will launch Kyrrex Sport soon. A marketplace for potential athletes' image rights that are represented by fungible tokens (not NFTs) as well as an NFT marketplace for their personal collections.

This listing is a major milestone for Kyrrex as the company aims to make the KRRX token more accessible to users around the world. We are confident that Huobi's high liquidity and solid reputation would be extremely beneficial to our users.

To further improve the Kyrrex ecosystem, we will continue to reinforce existing collaborations and explore new strategic partnerships with industry stakeholders.

Stay tuned!


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Kyrrex & Huobi Launch Exciting Crypto Tournament with 50,000 KRRX Prize Pool!

The tournament offers a massive prize pool of 50,000 KRRX and guaranteed payouts for 500 winners, providing all participants with the opportunity to come out on top.

The tournament will run from January 17th to February 1st, giving participants ample time to demonstrate their trading strategies and compete for the top prizes.

Don't miss out on this exciting opportunity to win big and register for the tournament today!

How to become a participant of KRRX-Huobi tournament:

1️⃣ Register on the Lot.Trade;

2️⃣ Create a new account on huobi.com;

3️⃣ Create an API key on the Huobi exchange and connect it to your Lot.Trade Personal Account;

4️⃣ Achieve a trading volume of at least 150 KRRX within 24 hours after registration;

5️⃣ Actively trade KRRX from the created profile on Huobi throughout the tournament, until its completion on 01.02.2023;

6️⃣ Wait for the results and get the desired prize

The first 1500 users who successfully complete the registration and trading conditions within 2 days after the tournament begins, will receive a bonus of $10. This is a limited offer, so don't miss out on this bonus opportunity.

So, are you ready to join the Kyrrex and Huobi crypto communities and compete for a prize pool of 50,000 KRRX and guaranteed payouts for 500 winners? Then fulfill the registration and trading conditions now and join our exciting crypto tournament.


Your Kyrrex 💚