Why are 'B' Crypto Exchanges Dominating the Top 10 and 15 on CG and CMC?

[Jascrypt]

I've observed a trend where exchanges starting with the letter 'B' are consistently improving in global rankings on CoinMarketCap (CMC) and CoinGecko (CG). This caught my attention during my ongoing due diligence, as I'm considering adding another exchange to my current platform. Here are some options I'm looking at:

Binance
Bitget
Bybit
Bitfinex
Bingx
Bitstamp

I'd love to hear about your experiences with any of these exchanges and why you've chosen to use them. Additionally, if you could rate them on a scale of 1 to 10, that would be extremely helpful. Let's exchange insights and make informed decisions together

[1715439928]

1715439928

[1715439928]

1715439928

[1715439928]

1715439928

[Lucius]

This first CEX you mentioned is actually the owner of CMC, so it's not surprising if it's really at the top because they use that platform for their own promotion. Given that the same CEX operates mainly in the gray zone, I would not be surprised if some of their acquisitions remained secret and that they own much more than what they admit.

However, if you ask me why their names start with "B", it probably has something to do with the fact that it is the first letter in the word "Bitcoin" - and it is no secret that Bitcoin sells a lot of junk (altcoins) that are listed on these platforms.

I can proudly say that I have never made a deposit at any of the aforementioned CEX, and I only have an account open at one, although that is a completely different story.

[FatFork]

I've observed a trend where exchanges starting with the letter 'B' are consistently improving in global rankings on CoinMarketCap (CMC) and CoinGecko (CG).
<cut>

Think about all the crypto exchanges you've heard of. How many of them start with the letter "A"? Or any other letter, for that matter.

The answer to your question is rather obvious, considering that most crypto exchanges, particularly the older ones, begin with the letter "B".

[Jascrypt]

This first CEX you mentioned is actually the owner of CMC, so it's not surprising if it's really at the top because they use that platform for their own promotion. Given that the same CEX operates mainly in the gray zone, I would not be surprised if some of their acquisitions remained secret and that they own much more than what they admit.

However, if you ask me why their names start with "B", it probably has something to do with the fact that it is the first letter in the word "Bitcoin" - and it is no secret that Bitcoin sells a lot of junk (altcoins) that are listed on these platforms.

I can proudly say that I have never made a deposit at any of the aforementioned CEX, and I only have an account open at one, although that is a completely different story.

You obviously sound as if you are not inclined to centralized exchanges but the obviously they still have relevance in this crypto space particularly for off-ramp services

I've observed a trend where exchanges starting with the letter 'B' are consistently improving in global rankings on CoinMarketCap (CMC) and CoinGecko (CG).
<cut>

Think about all the crypto exchanges you've heard of. How many of them start with the letter "A"? Or any other letter, for that matter.

The answer to your question is rather obvious, considering that most crypto exchanges, particularly the older ones, begin with the letter "B".

I think the oldest crypto exchange on the list should be Bitstamp and Bitfinex. The rest are relatively young particularly Bitget who is just 5 years old in the industry.

[JeromeTash]

Here is a clue

Binance - BTCinance from Finance
Bitget - BTCitget --> get bitcoin
Bybit - byBTCit --> Buy Bitcoin
Bitfinex - BTCitfinEx
Bingx - BTCingX
Bitstamp - BTCitstamp

As you can see it just a marketing stunt and also having the name associate with the product make it easy for newbies to identify. There are many more, Bitmex, Phemex, Okex As for the choice of exchange, it depends on your preference.

What are your most important parameters when looking for an exchange? Fees? KYC? Past security record? Effectiveness of customer support?

[Jascrypt]

Here is a clue

Binance - BTCinance from Finance
Bitget - BTCitget --> get bitcoin
Bybit - byBTCit --> Buy Bitcoin
Bitfinex - BTCitfinEx
Bingx - BTCingX
Bitstamp - BTCitstamp

As you can see it just a marketing stunt and also having the name associate with the product make it easy for newbies to identify. There are many more, Bitmex, Phemex, Okex As for the choice of exchange, it depends on your preference.

What are your most important parameters when looking for an exchange? Fees? KYC? Past security record? Effectiveness of customer support?

I look at past security records, trading fees, KYC, listing speed and liquidity. That's why I am considering Bitget particularly for their zero incidence of security exploitation but would appreciate more insight

[Lucius]

You obviously sound as if you are not inclined to centralized exchanges but the obviously they still have relevance in this crypto space particularly for off-ramp services

Why would anyone who has any understanding of Bitcoin be inclined to any centralized service? Especially if there are decentralized crypto exchanges that are a far better solution from the perspective of risk and manipulation.

Of course, CEXs have relevance and will continue to have it, given that the average investor in Bitcoin has not gone much further than considering CEXs as a kind of crypto banks similar to regular banks. Of course, we should not forget the institutional investors who use CEXs for trading and storage, which means that most of them do not understand what "not your keys, not your coins" actually means.

[BayAreaCoins]

This first CEX you mentioned is actually the owner of CMC, so it's not surprising if it's really at the top because they use that platform for their own promotion.

^  This!

If you aren't in on the communist loop of exchanges... it's difficult to be listed and they must have a thing for "B"'s.

[hugeblack]

It is not a distinctive rule, but all of these services are looking for words that are easy to remember and close to the ear of the listener. Binance is closer to finance, and other CEXs that start with bit are closer to bitcoin, which originally consists of bit as a signifier of digital and coin as a signifier of currencies, and some other platforms are linked to Bitcoin as Coinbase is a term from coinbase transaction
But modern CEXs are moving towards exchange word than bitcoin like FTX HTX OKX are all linked to exchange

Some of them are linked to aliens, such as the Kraken

[TheVeteranAngel]

I've observed a trend where exchanges starting with the letter 'B' are consistently improving in global rankings on CoinMarketCap (CMC) and CoinGecko (CG). This caught my attention during my ongoing due diligence, as I'm considering adding another exchange to my current platform. Here are some options I'm looking at:

Binance
Bitget
Bybit
Bitfinex
Bingx
Bitstamp

I'd love to hear about your experiences with any of these exchanges and why you've chosen to use them. Additionally, if you could rate them on a scale of 1 to 10, that would be extremely helpful. Let's exchange insights and make informed decisions together

There are other top 10 exchanges like Kraken, Coinbase, Kucoin, HTX, Gateio that didn't start with B and they are doing pretty well. What letter they start with doesn't really matter to me but the services they offer and their reach globally. Many of these exchanges will face serious problems and lose many of their customers going forward except they are regulatory compliant, you can see what happened in India some weeks ago. One criteria I will advise anyone using CEX is check out if the exchange is registered and lincesed in their region to avoid sudden exit one day. Security and safety should also be considered. Proof of reserve and user protection fund are pretty good yardstick to measure the integrity of this exchanges.