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Home Crypto Talks

Top Crypto Centralized Exchange Token to Invest in 2023 for Higher Profit

by Johnmiracle Ejikeme
March 7, 2023
in Crypto Talks
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Top Crypto Centralized Exchange Token to Invest in 2023 for Higher Profit
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Cryptocurrency exchanges are the backbone of the crypto industry, providing a platform for users to trade and invest in cryptocurrencies. Many of these exchanges have their own native tokens, which are used for various purposes, including reduced fees, staking rewards, and voting rights. In this article, we will look at the top 10 crypto-centralized exchange tokens to invest in.

Just so you know this category of tokens is referred to as utility tokens, and that indicates that they play a vital role. Utility tokens can be used to purchase goods or services within the platform or ecosystem they are associated with, or they may provide holders with certain privileges or rights within that system.

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For example, a utility token might be used to pay for access to a decentralized storage network, or it might give holders the right to vote on changes to a particular blockchain protocol..

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One of the main benefits of utility tokens is that they provide a way for companies or organizations to raise funds for the development of a new product or service without having to go through traditional financing channels.

This is done through an initial coin offering (ICO), in which investors purchase the utility token in exchange for a stake in the future success of the project.

Top Crypto Exchange Token to Invest in 2023 for Higher Profit

Investing in crypto exchange tokens can be a smart way to potentially increase profits in 2023. These tokens are issued by popular cryptocurrency exchanges and can offer various benefits, such as discounted trading fees, access to exclusive token offerings, and potential price appreciation.

By investing in the right exchange tokens, traders and investors can potentially maximize their profits in the cryptocurrency market.

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1. BNB

BNB is one of the most popular exchange tokens on the market. BNB is used for reduced trading fees and has seen impressive growth in recent years. One of the biggest competitive advantages Binance has is its drive for development. While the company started only as a crypto exchange back in 2017, today, Binance has spread its services among numerous different spheres.

According to the company website, its mission is to become the infrastructure services provider for the entire blockchain ecosystem. Since launching the BNB, the exchange has also benefited from increased investor interest in the coin. BNB went through a significant price increase at the beginning of 2021, which has put it on the map of enterprise investors.

Top Crypto Centralized Exchange Token to Invest in 2023 for Higher Profit

BNB coin is one of the top crypto centralized exchange tokens to invest in due to its numerous potential. Also, BNB utilizes two coin-burning mechanisms. The first mechanism consists of burning a portion of the tokens spent on transaction fees on the BNB Chain, and the second is its quarterly BNB burning events.

Previously, the quarterly burn event was based on revenue generated from the Binance centralized exchange. But under the new BNB Auto-Burn program, the number of tokens to be burned is calculated using a formula based on the total number of blocks produced on the Binance Smart Chain and BNB’s average dollar-denominated price during the quarter.

As of July 2022, Binance had completed 20 BNB coin burn events. In total, 38,683,447.66 BNB tokens have been destroyed, reducing its initial 200M supply by 19.34%.

2. KuCoin Token (KCS):

KCS Bonus is regarded as one of the best ways to get passive income. Users who hold more than 6 KCS can get a daily dividend, which comes from 50% of KuCoin’s daily trading fee revenue. KCS Bonus is a unique incentive mechanism for KCS holders and KuCoin ecosystem builders. The amount of rewards that users can get depends on the number of KCS held and the trading volume of the KuCoin Exchange.

KCS ALL graph coinmarketcap

Besides being paid out as a dividend, KCS, as a utility token, is also used to pay for trading fees on the KuCoin Exchange, allowing users to enjoy discounts of up to 80%. The use case of KCS also includes participation in the token sale on KuCoin Spotlight, as well as LockDrop/BurningDrop on the Pool-X platform.

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But this is not all, as KCS tokens also serve a series of other purposes on the platform. For instance, KCS holders can become KuCoin VIPs and users no longer need to have a huge BTC trading volume to unlock the reduced maker and taker fees. KCS can also be used as a payment method for shopping, making hotel reservations, buying gaming equipment, and more.

Just so you know the total supply of KCS tokens is 145 million, and over 98 million tokens are already in circulation leaving 52% to be circulated as reported by Coingecko.

3. OKB (OKB):

The OKB token is a good centralized exchange token to invest in for future profit because it plays an important role in the OKEx ecosystem. It allows users to receive up to a 40% discount on transactions (depending on the number of tokens a user has).

The exchange divides users into two status groups: regular and VIP. Regular users are assigned a level according to their OKB stock, and VIP users get a level according to their trading volume. The commissions are updated daily, and users get a discount depending on their respective level.

Platform members can receive passive income if they have OKB tokens, and the token is involved in OKEx Earn (this project helps users earn on their assets). Another purpose of the OKB token is to allocate funds on the OKEx Jumpstart platform. Participation on Jumpstart is available only after registration on the site — then sales are made through MixTrust.

OKB is the native asset of the OKExChain (the OKEx blockchain). The OKB token is used on the chain to facilitate spot trading, derivatives trading, and the simultaneous development of several scalable applications. Additionally, a layered architecture reduces consensus times, improves scalability, and boosts security.

Despite the advent of the crypto bear market, OKB sees a new all-time high, showing great resistant to dumping.

OKB ALL graph coinmarketcap

To add value to OKB and make the digital coin more attractive to holders, OKEx regularly burns tokens every three months and records the coin burn on the official website. For this procedure, OKEX uses 30% of the income from commission fees. On top of that, welcome bonuses are provided to new users.

4. BGB:

BGB is the native token of Bitget exchange, and one of the top crypto centralized exchange token to invest in right now for potential gain in the future because BGB has multiple use cases within the Bitget ecosystem.

Besides being used by traders to get discounts on trading fees, BGB can also be used as proof of rights and interests for users of different levels, and as a social token for the interaction between fans and copy traders.

Even with the current crypto winter, the BGB token was able to touch a new all-time high of $0.45 thus making it a good coin to invest in that has a strong resistance against massive sell-off and is not associated with any crypto heists, hacks or what have you.

BGB ALL graph coinmarketcap

In addition, according to Coingecko BGB has 70% of its entire total supply of 2 billion tokens in circulation which is a bullish sign as it there’s just 30% more for it token to enter full circulation.

Screen Shot 2023 03 06 at 10.10.02 PM

If you would like to know where to buy Bitget Token at the current rate, the top cryptocurrency exchange for trading in Bitget Token stock is currently Bitget. 

5. CRO

CRO has a total supply of over 30 billion token, and a total of 25 billion is in circulation leaving 27% of the entire token to be release into circulation which is also a good investment signal for CRO.

Screen Shot 2023 03 06 at 10.15.32 PM

Cronos (CRO) is the native cryptocurrency token of Cronos Chain — a decentralized, open-source blockchain developed by the Crypto.com payment, trading and financial services company.

CRO reached an all-time high of $0.9 expecting to break through $1 before the recent crypto bear market, and other FUD which caused the token to dump hard unto $0.7, well this is a chance to buy at a bonus rate.

CRO ALL graph coinmarketcap

CRO owners can stake their coins on the Crypto.com Chain to act as a validator and earn fees for processing transactions on the network. Additionally, CRO coins can be used to settle transaction fees on the Cronos Chain.

When it comes to trading use cases, the Crypto.com App allows users to earn token rewards for select listings by staking CRO. Additionally, users can earn annual interest of up to 10-12% on their Crypto.com Coins by staking them on either the Crypto.com Exchange app or Crypto.com’s metal Visa Card.

Overall, CRO acts as an instrument that powers Crypto.com’s drive to increase the adoption of cryptocurrencies on a global scale. As such, the company is continuously working on finding and developing new use cases that will allow users to leverage the cryptocurrency to enhance the control they have over their money, data, and identities.

6. MX

MX Token is the native cryptocurrency for the MEXC exchange that offers a range of trading options, including spot trading and margin trading. Its native token, MX, offers reduced fees and other benefits.

MX TOKEN (MX) is a decentralized digital asset developed by the MEXC platform based on the Ethereum blockchain. As MEXC’s native token, the MX ecosystem is gradually improved each day in order to empower users and builders.

The main focus of MX Token is to provide users with a safe and stable trading experience and to become an industry leader. MX is also the proof of MEXC community’s rights. Holders have the right to vote on business decisions, and team elections and gain priority participation in activities, etc.

MX ALL graph coinmarketcap

MX reached an all-time high of $3.3 before falling down to $1 during the bear market but is recovering faster showing a great toward selloffs, and thus one of the top crypto centralized exchange tokens to invest in now.

Conclusion

Investing in centralized exchange tokens can be a lucrative opportunity for crypto traders and investors in 2023. These tokens offer various benefits, such as reduced trading fees, access to exclusive token offerings, and potential price appreciation.

Among the top centralized exchange tokens, Binance Coin (BNB) stands out as a unique and popular option due to its utility, token-burning mechanism, Launchpad platform, decentralized exchange, and partnerships.

However, as with any investment, it’s important to do your own research and carefully consider the risks and potential rewards before making any investment decisions.

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Johnmiracle Ejikeme

Johnmiracle Ejikeme

Johnmiracle Ejikeme is a 7 Figure digital network marketer, crypto enthusiast, and a trader. A humble fellow that fancy investing and technology.

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