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What are Crypto Exchanges? Full Guide for Beginners (Animated)It was the first real tier 1 blockchain, with smart contracts that allowed other crypto exchanges to build on its platform. Over the last. A tier 1 crypto exchange refers to the largest and most reputable trading platforms in the cryptocurrency market. They are the pioneers of crypto trading and. Tier 1 crypto exchanges have high trading volumes. This means that the platform has high liquidity. This in turn makes it easier for you to.