According to CoinMarketCap, there are around 306 crypto exchanges with an average 24-hour trading volume of $319 billion. The trading volume is rising exponentially and new exchanges with better features are being introduced to make trading much easier and efficient.
Almost 79% of the daily crypto trading market is dominated by the top ten exchanges. These exchanges are extremely reliant on different types of users. Some users require simple interfaces with easy trading, and they do not care about high fees, while others need technical metrics for trading.
Based on these interests, we have shortlisted the top ten exchanges for all types of traders, whether you want a simple and interactive interface or you need technical analysis built inside your trading app.
Before we jump right into our shortlisted choices, let’s first have a look at what you really need to ensure while choosing a reliable exchange.
- Fees: Is the exchange’s fee reasonable when compared to other exchanges for your trading volume and type of coin you’re trading.
- Trading pairs: When trading, you will need to buy one currency and then swap it for the currency that is being offered on the exchange you want to trade on. Make sure there is a high number of trading pairs if you plan to trade in multiple currencies
- Volume: How often does this exchange service provide liquidity?
- Type of Trader: Ask yourself whether you are going to actively trade on an exchange (day trading) or you want to invest your capital for the long-term.
- Customer support: If something goes wrong, is the customer support fast and helpful?
- Country where servers are located: Most of the time you will be trading cryptocurrencies against fiat money (and vice versa). You want to make sure your assets are secure, and the exchange is located in a stable country
- Design: Is the exchange site easy to navigate? Is there an app for it?
- Security:Make sure the website is using HTTPS, consider using a reliable wallet service at the same time you use an exchange (can be Coinbase or Xapo), and you should take advantage of two-factor authentication (2FA)
- Extra Features: are there other services offered aside from trading? Does the platform offer margin lending or short selling for example?
We shortlisted these exchanges based on various factors such as user experience, trading speed, technical levels, platform support, and customer support, etc. Here’s an overview of our top crypto exchange players:
It is certainly one of the most popular crypto exchanges, but for a good reason. One of the main reasons they are on the top is because they have a higher number of trading pairs with Bitcoin, Ethereum, Bitcoin Cash, and many other altcoins. They also offer margin lending, which may be beneficial to traders. They also allow transfers between coins instantly with low fees.
Binance has different types of traders that use their exchange for different purposes. If you want to day-trade Bitcoin or bitcoins then this would be a good exchange for you with low fees and high liquidity on most altcoins. If you want to invest in some cryptocurrency assets over time, then Binance’s rebate system might be perfect for you to save some money on trading fees.
|Extremely Low Fees than other Exchanges||Difficulties in Account Verification|
|Efficient Trading Applications for multiple OS|
|Advance Charting for Technical Analysis|
Coinbase is one of the largest crypto exchanges with over 30 million global customers in 100+ countries. It is one of the best exchanges for beginner traders to start on for its user-friendly interface and a number of features.
Coinbase has a great design that new cryptocurrency investors will enjoy, which includes two-factor authentication and multi-signature wallets. It has low fees of 0% to 1%, which is lower than most other exchanges. It is one of the best exchanges if you want to buy cryptocurrencies with USD.
They offer good customer support but sometimes take quite some time to resolve the issue. The only disadvantage is that they lack a number of features that other exchanges have to offer, such as technical analysis tools and margin trading.
|User-friendly interface||Takes time to resolve issues|
|Near-instant ID verification for new users|
|Great reputation and never been hacked since the start in 2012|
KuCoin was first seen in 2007 and this cryptocurrency exchange has been seeing rapid growth. It has a diverse range of cryptocurrency coins for trading and offers many trading coins as well as fiat to crypto trading pairs. The content platform is divided into four main categories as Top Coins, Trading Pairs, Popular Investors, and Market Predictions. The platform offers its own token KCS that operates within its own separate market.
The one downside of Kucoin is that they don’t offer a number of trading pairs like Binance, but their platform is still really good for new users who want to trade Bitcoin, Ethereum, Litecoin, NEO, and other major coins with a moderate fee.
|Fast transactions||Fewer Trading Pairs|
|High liquidity market|
Kraken is one of the most secure exchanges because they use “cold storage” for all their Bitcoin and other cryptocurrencies. This makes them extremely hard to hack because hackers would need physical access to the computers. Kraken has never been hacked since it began its operations in 2011.
One of their best features is that they have a high liquidity market, and it’s one of the cheapest platforms to trade on with good customer support. Their only downside is that sometimes orders get canceled without any explanation or confirmation, which can be frustrating for some traders.
|Extremely high security with a cold storage system to store all cryptocurrencies offline||Poor Customer Support|
|Low Trading Fees|
Gemini is a cryptocurrency exchange that was founded by Cameron and Tyler Winklevoss. The company launched on October 25, 2015. It opened to the public in February 2016 with BTC and ETH trading pairs, as well as US dollar deposits via wire transfer or ACH bank transfer. The platform offers its own token GUSD (Gemini Dollar) which operates within its own separate market
Gemini has been able to maintain high-security standards, including FDIC insurance for fiat deposits, cold storage of 98% of digital assets, 2-factor authentication for all login attempts, and SSL encryption across their website. Gemini has offered high levels of security and insurance for accounts held on the platform, including $250,000 FDIC insurance and cold storage of 98% of digital assets.
|Top-notch Security with FDIC insurance and Cold Storage||Higher Trading Fees|
|No Deposit Fees|
Bittrex is a cryptocurrency exchange based in the United States. It was founded in 2013 and ever since has been one of the most popular exchanges for trading coins. It currently occupies the 28th spot on CMC’s list of top 50 exchanges.
The company offers lots of trading pairs that include USD, bitcoin, and Ripple (XRP). Bittrex charges a nominal fee for trades, with rates starting at .25%. As a result, it is a popular choice with traders who want to trade fiat currencies or altcoins.
|Lower Trading Fees & High Volume Deposits||No Margin Trading|
|Interactive Charts for Trading|
One of the newest exchanges on the market is Crypto.com, a cryptocurrency exchange founded in 2018 by a team that includes a former banker and a cryptocurrency entrepreneur with a background in payments.
The company supports a variety of fiat currencies, including USD, GBP, EUR, HKD, and SGD. It also supports trading pairs in BTC, ETH, LTC, and XRP. Crypto.com offers fast transactions at low fees with high liquidity. Crypto has been able to maintain high-security standards with FDIC insurance for fiat deposits and cold storage of 98% of digital assets among other things.
|Low Trading Fees||Have some geographical restrictions|
|NFTs Platform Integration|
|Fast & Easy Transactions|
CEX.io offers a multitude of features to its users as ease-of-use and great customer service are the platform’s top priorities. This includes full access to trading features such as stop loss, take profit, order history, and quick buy. Users can also optimize their portfolio balance by buying tokens with different rates on CEX.io’s user-friendly website or iOS app.
Moreover, all withdrawals made from a user’s account will be processed automatically so no one has to wait long periods of time for their cash to show up in their bank account. Finally, CEX.io has been able to create an environment where the customer is king by providing good customer service and easy usability through a variety of platforms including its website,
|Interactive Mobile App||Relatively High Trading Fees|
|Multiple Transaction Methods|
eToro offers a variety of exchange and trading features. You can trade on margin, or use eToro social trading features to copy the trades of other traders. Other features include Stop Loss orders, which automatically sell your assets if they drop below an amount you specify.
The company has a network of traders that specialize in different assets, and you can choose to copy their trades or follow your own instincts.
eToro has mobile trading apps for iOS and Android devices and is also available on Apple Watch. The eToro wallet supports a range of cryptocurrencies including Bitcoin Cash, Ethereum, Dash, Ripple, and Litecoin. You can deposit fiat currency with a credit card, wire transfer, or PayPal.
|Simple to Sign Up||Lacks good Customer Support|
|Low Trading Fees|
|Excellent Trading Features|
Bisq is a decentralized peer-to-peer trading platform for cryptocurrencies. This means that you don’t need to create an account to use it, or be verified by anyone. You also don’t need to provide any information about yourself, including your name.
This is a decentralized system, meaning there is no central authority you have to trust when you sign up. Additionally, all data is encrypted and stored in a distributed network using the Interplanetary File System (IPFS). This means that even if Bisq were shut down or forced by law enforcement to hand over user data, it could not be hacked or accessed.
This platform is ideal for advanced traders, who want a wide array of features and customization options to work with. You can run advanced technical analysis using the free charting applets it provides.
|Completely Decentralized Exchange||Not good for beginners|
|No Geographical Restrictions|
|Distributed Servers for Security|
We have shortlisted some of the most common yet best crypto exchanges. All these exchanges have something special to offer. Some exchanges are pretty big such as Binance and they have more coin listings than anyone else, while other platforms such as Gemini might be excellent for security and interactive interfaces.
Therefore, the final decision depends on your personal preferences. You can also go completely decentralized, but it is currently not a wise option for all traders. However, make sure you consider all important factors that we described earlier before you sign up on any exchange.