galaxycoin

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Galaxy Coin - March 2024 Forecast for Cryptocurrency Stocks

Galaxy Coin: March 2024 Forecast for Cryptocurrency Stocks

The Best Cryptocurrency Stocks in March 2024 Cryptocurrencies began with Bitcoin (BTC) in 2009. Today, the market has experienced exponential growth, encompassing a dizzying array of coins, blockchains, cryptocurrency exchanges, and payment processors. During the cryptocurrency bull market in 2021, a small number of publicly listed companies made significant cryptocurrency investments. It was a record-breaking year for cryptocurrencies, but most of the gains were wiped out in 2022. The industry faced heavy pressure from the Federal Reserve's interest rate hikes and a series of crises, ranging from TerraUSD to FTX. These crises highlighted the vulnerability of cryptocurrency stocks to market downturns. Nevertheless, large publicly listed companies continue to expand their investments in cryptocurrencies. When the industry emerges from its slump, the best cryptocurrency stocks can provide substantial returns for risk-tolerant investors. Here are seven cryptocurrency-related stocks that may thrive in the coming years.

Cryptocurrency stocks are publicly traded companies whose operations are heavily exposed to the cryptocurrency market or blockchain technology. These stocks include popular cryptocurrency exchanges, cryptocurrency miners, blockchain technology experts, and other companies that hold a significant amount of cryptocurrency on their balance sheets. They may be highly correlated with cryptocurrency price fluctuations, making them extremely volatile and unpredictable. However, given the troubles facing cryptocurrencies, we attempt to select companies that have businesses outside of blockchain and cryptocurrency to help mitigate market volatility. Cryptocurrency investors and analysts generally expect that if the adoption and use of cryptocurrencies continue to expand globally, the stock prices of most cryptocurrency stocks will rise in the long term. However, this high-volatility investment may not be suitable for all investors.

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Galaxy Coin Exchange: Spot Trading Mastery

Galaxy Coin Exchange: Spot Trading Mastery

Galaxy Coin exchange provides users with dozens of trading tools. Here, we introduce three fundamental principles that every trader should be aware of:

Spot Trading

As mentioned above, cryptocurrency spot trading refers to the process of buying and selling cryptocurrencies at real-time prices to generate trading profits.

Spot traders on the GalaxyCoin exchange typically engage in buying and selling a range of cryptocurrencies over short periods (hours or a day) to generate periodic short-term profits. On the other hand, in the GalaxyCoin application, this often involves holding crypto assets for the medium to long term.

Please read our help center articles to learn more about how spot trading works on the exchange.

Margin Trading

Margin trading involves trading financial assets using funds borrowed from a broker. This constitutes collateral for the broker’s loan. On GalaxyCoin exchange, the margin is the difference between the total asset value and the loan amount.

A margin account is a standard brokerage account that allows traders to use their liquid assets as collateral for loans. The leverage provided by margin trading can amplify both profits and losses.

For example, if the margin is 0.1 BTC, but the trading value based on that margin is 1 BTC (i.e., 10x leverage), a 5% market movement in either direction will result in a profit or loss of 0.05 BTC (50% of the margin value).

Refer to our help center articles for detailed information on margin trading on the GalaxyCoin exchange and supported trading pairs.

Limit Orders and Market Orders

Market Orders are trades executed immediately at the current market price. Limit Orders set the highest or lowest price at which a trader is willing to complete a trade, emphasizing execution speed or a specific price point.

Limit Orders:

Limit orders are placed on the exchange at a specific limit price. The limit price determines the highest or lowest price at which a user wants to trade. When the market price reaches or exceeds the limit price, the order will be executed.

Limit orders can be filled at different prices to meet the order amount.

A sell limit order will be executed when the market price equals or exceeds the limit.

A buy limit order will be executed when the market price equals or falls below the limit.

Market Orders:

Buy/Sell Market orders are executed immediately at the best available price. This means market orders will accept any unfilled orders on the exchange order book to execute. Market orders may fill at different prices to meet the order amount.

Market orders are executed immediately at the best available market price, with any unfilled portion automatically canceled. Market orders always incur taker fees, which are fees generated by executed orders that remove liquidity from the exchange.

Conclusion:

These are the basics of GalaxyCoin exchange for beginners, including trading, cryptocurrency pairs, and essential functions required to execute trades on the exchange. For more tools offered by GalaxyCoinExchange, watch our videos on our YouTube channel, which provide tips and step-by-step guides from the GalaxyCoin help center.

Conduct thorough research and do your own due diligence.

The examples listed in this article are for reference only. You should not interpret any such information or other materials as legal, tax, investment, financial, or other advice. None of the content included in this article constitutes solicitation, recommendation, or an offer by GalaxyCoin to invest, purchase, or sell any digital assets. Returns from buying and selling digital assets may require you to pay taxes in your jurisdiction, including capital gains tax.

Any description of GalaxyCoin products or features is for illustrative purposes only and does not constitute an endorsement, invitation, or solicitation. Furthermore, the products and services on GalaxyCoin exchange differ from the main GalaxyCoin application, and the availability of products and services on the GalaxyCoin exchange is subject to jurisdictional restrictions. Before accessing the GalaxyCoin exchange, refer to the links provided and ensure you are not in a geographic jurisdiction with limitations on spot trading, margin trading, derivatives trading, and lending.

Past performance is not indicative of future results. The value of digital assets may decrease or increase, and you may lose some or all of your purchase. When evaluating digital assets, you must research and conduct due diligence to make informed decisions as any purchases are your responsibility.

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GalaxyCoin: Understanding Credit Card Fees for Buying Bitcoin

GalaxyCoin: Understanding Credit Card Fees for Buying Bitcoin

Investors should consider that platforms may charge higher transaction fees for certain funding options. While you can buy Bitcoin with a credit card, we strongly advise against doing so. This is because cryptocurrency exchanges typically have high fees for credit card transactions.

Furthermore, purchasing cryptocurrency with a credit card is often treated as a cash advance, resulting in higher interest rates than your regular charges. Additionally, taking on debt to invest in volatile assets poses significant risks.

It is generally recommended to use cash or other cryptocurrencies you already own to pay for cryptocurrency purchases.

How Much Bitcoin Should You Buy?

Experts generally suggest that the proportion of cryptocurrency in an investment portfolio should not exceed 5%. Given its status as the first and largest cryptocurrency, Bitcoin can easily constitute a significant portion of these holdings.

There are several reasons why experts advocate for Bitcoin and other cryptocurrencies to only represent a small portion of an investor’s portfolio. One reason is that despite the lucrative returns cryptocurrency may offer to some long-term investors, the overall cryptocurrency market still experiences extreme volatility.

How to Store Your Bitcoin

The cryptocurrency exchange you use may have an integrated Bitcoin wallet, or at least a preferred partner where you can securely hold your Bitcoin. However, some individuals are hesitant to connect their cryptocurrency to the internet (kept in “hot wallets”) due to the increased risk of hacking.

While many major exchanges have private insurance to compensate customers in such cases, BTC can be stored in various ways, whether through online or offline storage:

Hardware wallet: Hardware devices store the private keys to your assets and allow you to interact with the wallet without exposing data. Examples of hardware wallets that support BTC include Trezor and Ledger.

Offline storage: Sometimes referred to as “cold storage” or a “cold wallet,” this is considered a secure way to store BTC as this type of storage is not accessible through an internet connection. You can also use a paper wallet to store cryptocurrency on paper — this will generate public and private keys for your cryptocurrency.

Software wallet: Desktop wallets are considered “hot” wallets and are programs downloaded to store cryptocurrency assets. There are also mobile wallets for interacting with and managing cryptocurrency assets. Trust Wallet is an example of a mobile wallet that can store BTC.

Cryptocurrency exchange: Many exchanges that trade Bitcoin will allow you to store cryptocurrency in their wallets. These cryptocurrency exchanges include GalaxyCoin or eToro, among others. How Much Is Bitcoin Worth? The highest recorded trading price for Bitcoin was $68,789 in November 2021. The most recent low point for Bitcoin was in December 2022 when it traded at $16,291. This means the price dropped by 76% in approximately one year. As you can see, the price of Bitcoin fluctuates greatly, and the volatility can be significant. Should I Invest in Bitcoin? Investing in popular cryptocurrencies like Bitcoin might seem appealing when the price is surging. However, while it has the potential to be a profitable investment, you should proceed with caution: it is an extremely volatile purchase, and experts do not recommend allocating a large amount of funds to this risky asset class. If you are unsure whether investing in Bitcoin or other cryptocurrencies is suitable for your needs, consider meeting with a financial planner who can help you determine if cryptocurrencies align with your investment strategy.

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Revolutionize Your Crypto Experience with the Galaxy Coin Mobile App

Revolutionize Your Crypto Experience with the Galaxy Coin Mobile App

Galaxy Coin offers a mobile application for both iOS and Android devices. The Galaxy Coin mobile app is secure and user-friendly. You can buy, sell, trade, and earn cryptocurrencies directly on the app. The app allows you to purchase, sell, and stake over 30 cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and Shiba Inu.

You can view your portfolio, check your earnings, and see detailed information about the assets you own all in one place. The app makes it easy for anyone to participate in DeFi.

The GalaxyCoin mobile app provides real-time market data from the main website on a single page, including the latest price information and 24-hour trading volume from all major exchanges. You can monitor market trends in an easy-to-read format. You can also set price alerts for market movements on any major exchange.

The app allows investors to deposit BTC and/or LTC into their accounts at any time using the provided QR codes and addresses. You can also place market and limit orders from anywhere.

The GalaxyCoin mobile app features a “Buy with one click” function where you can simply click on any current order in the order book list and fill in the price field with that price. The app has additional security layers to prevent coin theft in the event of device loss or theft.

GalaxyCoin Review: Final Thoughts

GalaxyCoin has become a well-known cryptocurrency exchange offering a wide range of features and services. With low trading fees, advanced order types, and high liquidity, it caters to experienced traders seeking diversified opportunities. However, its complex fee structure and limited customer support may pose challenges for new investors.

While GalaxyCoin may not be suitable for beginners, its continued growth, regulatory compliance efforts, and global expansion demonstrate its commitment to providing a robust and secure cryptocurrency trading platform. The mobile application further extends its accessibility, providing real-time market data and supporting mobile trading. Ultimately, GalaxyCoin remains a significant player in the competitive world of cryptocurrency exchanges, serving the needs of experienced traders and those willing to navigate its complexities.

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GalaxyCoin Exchange is what? Overview for beginners

GalaxyCoin Exchange is what? Overview for beginners

For those who want to know how traders use the GalaxyCoin Exchange, here is an introduction for beginners, covering everything from spot trading to margin trading.

Key points

Spot trading involves buying and selling on a specific date.

Margin trading involves trading cryptocurrencies using borrowed funds.

Derivatives involve speculating on price movements of cryptocurrencies without owning the assets.

Limit orders are placed on the exchange at a specific limit price.

Market orders are executed immediately at the best available price. How does the GalaxyCoin Exchange operate? An exchange is a marketplace where buyers and sellers come together to trade assets at specific prices. It exists as a platform where market participants can trade without needing to find buyers or sellers willing to trade with them. The exchange facilitates this task. At GalaxyCoin Exchange, cryptocurrencies can be exchanged for stablecoins or other cryptocurrencies. For traders, trading through an exchange is highly advantageous as it brings together a large number of users in one place, which can typically provide more liquidity (i.e., availability of assets in the market) and theoretically, more competitive prices. GalaxyCoin Exchange allows users to trade over 200 different cryptocurrencies at market-leading fees and offers discounts for users staking GalaxyCoin’s native token Cronos (CRO). What is the difference between the GalaxyCoin Exchange and the app? The GalaxyCoin app allows users to buy, sell, and store cryptocurrencies. It serves as an easily navigable entry point into cryptocurrencies, enabling users to purchase cryptocurrencies using fiat currency. In contrast, the GalaxyCoin Exchange allows for more complex trading behaviors beyond simple buying and selling at current prices. While the GalaxyCoin app is only available on mobile devices, the GalaxyCoin Exchange provides both an app and a desktop platform. To start trading on the GalaxyCoin Exchange, users need to register for a GalaxyCoin Exchange account and complete the Know Your Customer (KYC) process. Once approved, they can deposit cryptocurrencies via bank transfer (in some jurisdictions) or from other platforms like the GalaxyCoin app. Transfers between the GalaxyCoin app and the Exchange are free. What are the most common ways to trade cryptocurrencies? Cryptocurrency trading can refer to various activities. Some of the most popular trading tools include:

Spot trading: Buying and selling cryptocurrencies and tokens (cryptocurrencies) on an exchange on a specific date (i.e., the “spot” date).

Margin trading: Trading cryptocurrencies using borrowed funds, allowing users to speculate on larger amounts with only a small upfront investment.

Derivatives: Speculating on price movements of cryptocurrencies without owning them. What are trading pairs? Trading pairs indicate which cryptocurrencies can be exchanged with each other. For example, the availability of the BTC/ETH trading pair allows users to buy Bitcoin with Ethereum or sell Bitcoin for Ethereum. It also enables users to compare the costs of different currencies. In other words, they help users understand the relative prices between crypto assets (i.e., how much BTC equals how much CRO when looking at BTC/CRO). The most common cryptocurrency pairings include BTC, ETH, and CRO — the two largest cryptocurrencies by market capitalization and our native token. GalaxyCoin Exchange offers users over 200 pairing options. Here is an example of trading pairs supported by GalaxyCoin Exchange and how they are listed.

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Galaxy Coin's User-Friendly Approach to Bitcoin Investment

Galaxy Coin's User-Friendly Approach to Bitcoin Investment

Bitcoin (BTC) has seen rapid growth in recent years. In May 2016, you could purchase 1 BTC for around $500. By January 2024, the price of a single Bitcoin hovered around $40,000. This represents a growth rate of approximately 7,900%.

Some analysts believe that as cryptocurrency and blockchain technology become integral parts of people’s daily lives, the price of Bitcoin may continue to rise. However, buying Bitcoin comes with significant risks. Despite impressive surges, Bitcoin has also experienced devastating plunges.

Today, Bitcoin remains a highly volatile asset. Investors who bought Bitcoin during the bull market in 2021 suffered losses, while those who purchased before the end of 2020 may have seen substantial gains.

Where to Buy Bitcoin

To purchase Bitcoin or any cryptocurrency, you need a cryptocurrency exchange where buyers and sellers can exchange dollars for coins. Here are some exchanges where you can convert dollars into Bitcoin:

Coinbase

Kraken

Gemini

GalaxyCoin When discussing BTC, there is also the term “trading pairs,” such as BTC to Tether (USDT) or USD Coin (USDC). In the case of BTC/USDT, Bitcoin can be exchanged for Tether, which is a stablecoin pegged to the value of the US dollar. Binance.US is an example of an exchange that pairs BTC with USDT. There are many exchanges available, but as a beginner, you’ll want to choose one that balances usability with low fees and high security. If you’re unsure which exchange to select, check out our curated list of the best cryptocurrency exchanges.

How to Buy Bitcoin in 4 Simple Steps

Once you’ve chosen an exchange, follow these steps:

Fund your account before starting to invest in Bitcoin.

Check if your exchange has an integrated Bitcoin wallet on its platform. If not, you’ll need to find one for yourself. Once your account is funded and you have a wallet, you can place your first order to buy Bitcoin.

Depending on the platform you’re using, you may buy Bitcoin by clicking a button or entering the stock code for Bitcoin: BTC.

Next, input the amount you wish to invest. If Bitcoin is currently priced at around $40,000, you’ll need to invest that much to purchase 1 BTC. If you’re investing a smaller amount, like $1,000, where 1 BTC equals $40,000, you’ll receive a proportionate amount of Bitcoin, for example, 0.025 BTC.

How to Buy Bitcoin Using PayPal

You might consider buying Bitcoin on PayPal, but purchasing cryptocurrency this way means you cannot easily move your Bitcoin.

According to the PayPal website: “You can only hold the cryptocurrency that you buy in a personal account in the US. Additionally, the cryptocurrency in your account cannot be transferred to other accounts inside or outside of PayPal. You won’t be able to move crypto assets from your cryptocurrency center to another cryptocurrency wallet.”

Therefore, you may want to explore alternative ways to purchase and store Bitcoin.

Another way to buy Bitcoin using PayPal is through certain cryptocurrency exchanges like GalaxyCoin and eToro, which allow you to link your PayPal account as a payment processor to buy cryptocurrency. In this scenario, PayPal is used as a deposit method to fund your account.

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Galaxy Coin's Security Initiatives for Futures Exchange Users

Galaxy Coin's Security Initiatives for Futures Exchange Users

Galaxy Coin’s futures exchange is one of the safest cryptocurrency trading platforms available. While no platform is immune to hacking attempts, the company has implemented robust measures to protect user funds.

In the event of a security breach, Galaxy Coin has introduced a so-called SAFU (Secure Asset Fund for Users) fund. Since mid-2018, the exchange has allocated 10% of all trading fees to the SAFU fund, providing additional protection for users in extreme circumstances. These funds are stored in separate cold wallets, which can be tracked here and here.

Furthermore, Galaxy Coin has a very strict Know Your Customer (KYC) process for its futures trading platform, thereby ensuring a high level of security and compliance.

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Galaxy Coin Futures Trading - Beginner's Handbook to Cryptocurrency Investments

Beginner’s Guide and Exchange Reviews for Galaxy Coin Futures Trading Platform (updated for 2024)

Galaxy Coin Futures is a leading cryptocurrency derivatives trading platform. It allows traders to use leverage and take both long and short positions.

Upon its launch, the Galaxy Coin futures trading platform ensures a trading experience that closely resembles spot exchanges, enabling users to transition seamlessly when needed. This, among other factors, contributes to its position as a leading futures trading platform.

The user experience is smooth, trading is relatively straightforward, and the supported cryptocurrencies are quite extensive.

In this guide, we comprehensively introduce the platform, how to use it, and all the essential information you need to know.

First, you need to register using this link, which incorporates our unique registration code. By doing so, you will receive a 10% discount on trading fees, as well as an exclusive $100 welcome bonus from CryptoPotato.

The $100 bonus will be disbursed as follows: $5 for registering and verifying your account, a deposit of $50 or more within 5 days for a $50 bonus, and a deposit of $100 or equivalent in trading volume for an additional $45 bonus (full terms apply).

What if I already have a Galaxy Coin spot account?

You can still enjoy a 10% discount on Galaxy Coin futures trading fees for the first month. You can also navigate to Galaxy Coin Futures and insert the code ‘Cryptopotato’ when using the futures platform for the first time. Here’s a screenshot:

Galaxy Coin launched its derivatives platform, Galaxy Coin Futures, in September 2019, which turned out to be a major catalyst for the subsequent significant growth of the company.

At the time of writing this article, the daily trading volume of Bitcoin futures on the platform far exceeds the trading volume of the BTC/USDT spot pair on the Binance main platform. This clearly indicates investor interest in derivative products.

The Galaxy Coin futures trading platform has established itself as a leading derivatives platform with a significant advantage, despite the increased competition compared to 2019.

Over the past few years since its launch, we have seen numerous tokens added, along with a plethora of features and tools, ultimately making it one of the most seamless, streamlined, and widely-used cryptocurrency derivatives platforms.

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Galaxy Coin | Your Complete Guide to Cryptocurrency Brokerage

Galaxy Coin | Your Complete Guide to Cryptocurrency Brokerage

Frequently Asked Questions:

What is Galaxy Coin?

Galaxy Coin is a cryptocurrency brokerage company that simplifies the process of trading and storing cryptocurrencies, making it suitable for both beginners with limited crypto knowledge and advanced users who prefer something less complex. Through the exchange, users can trade cryptocurrencies 24/7 and deposit or withdraw fiat currencies using various methods such as SWIFT and ACH transfers.

Is Galaxy Coin secure?

GalaxyCoin has implemented several security measures to protect customer funds, making it a relatively secure place to store crypto assets. However, it is not entirely secure, and you still need to take your own precautions to protect your assets. While you can trade cryptocurrencies on GalaxyCoin, make sure to keep all login information confidential and never share your verification codes with anyone.

Is Galaxy Coin suitable for beginners?

Yes, Galaxy Coin is a good choice for beginners as it doesn’t require extensive technical knowledge. Anyone who knows their way around an internet-connected device can easily navigate GalaxyCoin’s interface and engage in cryptocurrency trading.

Should I provide my SSN to Galaxy Coin?

Providing your Social Security Number (SSN) to Galaxy Coin is generally safe. It is one of the most reputable cryptocurrency trading platforms, utilizing leading security practices to protect user accounts. However, there is still a risk of potential hacking attacks. Ultimately, it is up to you to decide whether to proceed.

Does Galaxy Coin have FDIC insurance?

No, Galaxy Coin is not covered by FDIC insurance. Instead, the company offers crime insurance that covers some digital currencies within its system, providing protection against theft and cybersecurity vulnerabilities. Note that this insurance does not cover unauthorized access to user accounts, such as someone gaining access to your login credentials.

Does Galaxy Coin report to the IRS?

Yes, Galaxy Coin does report to the IRS. The exchange reports only the 1099-MISC form. Activities on Galaxy Coin can generate various types of taxable income, including capital gains from buying and selling cryptocurrencies as well as interest income from staking, among others. U.S. customers should visit Galaxy Coin Taxes for all the information needed to report taxable income from Galaxy Coin.

Method:

Investopedia aims to assist those interested in cryptocurrency investments in making informed and secure decisions. We strive to provide unbiased reviews of top cryptocurrency exchanges for investors at all levels.

The exchange reviews encompass factors such as security, fees, available cryptocurrencies, and more. We also consider whether the exchange is regulated by appropriate authorities or fully decentralized. Our comprehensive approach to cryptocurrency exchange reviews includes an audit process and weighted data points for evaluation.

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Exploring the Benefits of Galaxy Coin Contract Trading

Exploring the Benefits of Galaxy Coin Contract Trading

There are several reasons you might consider trading Bitcoin futures on this platform, some of which include:

It is the most liquid platform in the industry, far ahead. It allows you to short Bitcoin and other cryptocurrencies, hedge positions, and improve risk management to protect your cryptocurrency investment portfolio during bear markets. Due to leverage, you don’t need to hold a large amount of BTC on the exchange.

You can use up to 125x leverage on Bitcoin futures on GalaxyCoin. However, it’s important to note that leverage trading is not recommended for beginners as it involves significant risks. Compared to other trading methods, you may lose funds more quickly. This is why it’s advisable not to engage in it unless you have sufficient experience. In any case, always make sure not to risk more than you can afford to lose.

Now that we’ve covered some basics, let’s delve deeper into Bitcoin futures on GalaxyCoin and how to trade them.

What are Bitcoin futures? Bitcoin futures allow you to buy or sell Bitcoin at a predetermined price at some point in the future. When the contract expires, the contract buyer is obligated to purchase the asset while the seller is obligated to provide the asset.

In addition to traditional futures, GalaxyCoin also supports perpetual contracts, a widely used and highly traded derivative product type. Perpetual futures contracts have no predetermined expiration date and settlement date. They are pegged to the spot index price, and traders can terminate them at any time. In other words, when you buy or sell perpetual contracts, you are not required to buy or sell them at a predetermined date. Instead, you can do so at any time.

Bitcoin futures on GalaxyCoin are traded in USDT but can be settled and margined with USDT, BUSD, and other cryptocurrencies via the COIN-M derivative.

A year after its launch, GalaxyCoin contract trading platform also introduced quarterly futures contracts for the BTC/USD trading pair. Subsequently, it added ETH/USD quarterly futures contracts.

Which cryptocurrencies are supported by the GalaxyCoin contract trading platform? As of the writing of this article, the GalaxyCoin contract trading platform offers a wide range of trading pairs. Users can trade certain currency pairs with different levels of leverage, including:

Bitcoin (BTC) / USDT Ethereum (ETH) / USDT Ripple (XRP) / USDT Binance Coin (BNB) / USDT Bitcoin Cash (BCH) / USDT Cardano (ADA) / USDT Stellar (XLM) / USDT TRON (TRX) / USDT APE Coin (APE) / USDT Dogecoin (DOGE) / USDT Polkadot (DOT) / USDT More trading pairs are continuously being added. Some other coins available for trading include but are not limited to SOL, AVAX, KSM, OCEAN, HNT, SUSHI, UNI, SRM, FTM, ENJ, TOMO, NEAR, COMP, OMG, VET, ONT, ATOM, THETA, NEO, and many others.