What's the best cryptocurrency exchange on the market today? Some users would put Binance or Bybit at the top of the list, but here comes an exchange that's gaining a lot of traction: Backpack!
Backpack: The Best Crypto Exchange on the Market Today?
08/21/2025
What's the best cryptocurrency exchange on the market today? Some users would put Binance or Bybit at the top of the list, but here comes an exchange that's gaining a lot of traction: Backpack!
Backpack: The Best Crypto Exchange on the Market Today?
What is Backpack Exchange?
Backpack Exchange is a relatively new cryptocurrency exchange, created by the same team that developed Backpack Wallet (a self-custody wallet focused on Solana, but which also supports other networks, such as Eclipse and Sonic).
It has attracted a lot of attention because it adopts some different technologies and principles than large traditional centralized exchanges, such as Binance.It is a CEX (centralized exchange), a centralized crypto exchange, but built with a focus on transparency and security.
- It is registered in regulated jurisdictions (such as the British Virgin Islands, Dubai, etc.) and strives for legal compliance.
- It is integrated with the Solana Ecosystem in the case of its crypto wallet, but offers trading pairs in multiple currencies and stablecoins.
- It also integrates easily with Backpack Wallet, which provides a more seamless experience.
- It accepts on-chain deposits from various networks (Solana, Ethereum, etc.).
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Backpack's differences compared to Binance:
Fund Transparency
- Backpack: Real-time, on-chain auditable reserves. https://backpack.exchange/reserves
Binance: Occasional proof-of-reserve reports, but without a fully independent audit.
Self-Custody Wallet Integration
- Backpack Exchange connects naturally with Backpack Wallet, allowing users to easily move funds between their own custody and the exchange.
Binance, while TrustWallet and Safepal exist, the integration isn't as native, and the focus is on keeping users in centralized custody.
Regulation
- Backpack seeks to operate within clear regulatory frameworks, unlike Binance, which faces lawsuits and restrictions in several countries.
Solana Focus
- Binance is multichain, but its foundation is heavily focused on Ethereum and BNB Chain.
Backpack was born in the Solana ecosystem, so its experience is more optimized for that environment.
Culture of Innovation
- Backpack emerged after the FTX crash, focusing on solving the trust issues faced by centralized exchanges.Binance is huge, but it operates more like a "full platform" (exchange, launchpad, futures, staking, cards, etc.), which often leads to greater centralization;
- Trading fees on both platforms are competitive, and Backpack even offers a VIP system for users to pay even lower fees—if they are more significant investors.
Backpack will also do a BIG Airdrop to users who make Voluma on the platform!
Lucas Lippe
The idea of freedom is fascinating and Bitcoin gives us that in many ways. Explaining ideas of a decentralized web on the Bitcoin Lovers website.
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