Since the bitcoin boom in 2017 cryptocurrency has gained widespread acceptance. If you wish to sell crypto then it is much more likely to find a merchant today than it was five years before. Thanks to a great number of cryptocurrency exchanges.
Top Exchanges for Cryptocurrency:
An exchange is a digital marketplace that acts as an intermediary between buyers and sellers of the cryptocurrency. Consumers can deposit their assets in the form of crypto coins or fiat currency. They place orders in the market and make trade-in bitcoin or altcoin to earn profits.
There are plenty of exchanges operating in the world right now. Here we will briefly explain the top 10 crypto exchanges with their specifications. However, readers can select the best crypto exchange for themselves depending on their own needs.
Binance is the world’s leading exchange with the highest trade volume. Daily trade volume at this platform is around 2 billion dollars. It has over 150 crypto to crypto trading pairs. Besides, Binance accepts trades in both crypto and fiat currencies.
Binance takes pride in being a cost-effective exchange. It starts at a 0.1% trading fee for both makers and takers. As the trading volume increases users get to pay less and less. Deposits in coins are also free on finance. Nonetheless, withdrawal costs are different for different currencies.
Binance is a secure platform now. Although, it was hacked in 2019 when breach cost 7000 bitcoin loss. This put question mark on security measures of the platform. However, the CEO of Binance minimized the damage by reimbursing users’ money.
Binance provides multiple trading options which include, Spot Trading, Margin Trading, and Futures. Thus, both beginners and professionals can take advantage of this exchange. By far Binance is the best cryptocurrency trading platform.
It has also introduced products of its own. ‘Trust wallet’ and BNB (Binance coin) are two of them. Traders holding BNB get special discounts on trading fees.
It is a US-based Cryptocurrency Exchange. It was founded in 2013. Kraken offers users multiple trading options with a low trading fee.
Kraken is the best trading platform for advanced traders. It offers to trade in a large number of pairs. Users can do Margin trading, OTC and Futures using this platform. It also boasts the high liquidity feature of the forum.
Kraken has been consistently improving its features. It has introduced ‘Dark Pool’ to help traders make big trades anonymously. It can be said without hesitation that Kraken exchange is the best trading platform for experienced traders.
Deposits on Kraken can be made in USD (US dollars), EUR (Euros), CAD (Canadian dollars), GBP (Pound Sterling), CHF (Swiss Franc), and JPY (Japanese Yen).
Kraken has some restrictions in terms of jurisdiction. However, it doesn’t compromise on the quality of operations and security of its users.
Coinbase is a secure and trusted exchange in the crypto world. It started operation in 2012. This San Francisco based exchange is regulated by US financial institutes. Many mainstream investors, such as banks, back Coinbase.
It has over 30 Million users around the world. The total trade volume so far has been more than 50 billion dollars. However, Coinbase users are limited to North America, Europe, and Oceania only.
People living in the US are at a particular advantage with Coinbase. They can make deposits through banks directly. Also, withdrawals can be made in bank accounts through the Coinbase wallet.
Deposits and withdrawals can be made in both crypto and fiat currencies. Coinbase wallet is popular for facilitating fiat withdrawals. It is among the best cryptocurrency exchange list for this withdrawal feature.
Coinbase’s trading fee starts at 0.50%. It goes down with an increase in trading volume. The fee structure is also different for Coinbase Pro users. Coinbase Pro is specially designed for professionals in the crypto trading industry.
This is a London based Crypto Exchange. It was established in 2013. CEX.IO was first ever exchanged to offer fiat to cryptocurrency transactions. It receives deposits through, Visa, Mastercard, and Bank transfer. It is the best crypto exchange in terms of transaction ease.
CEX.IO has over 3 million users around the world. It offers a limited number of crypto pairs. However, all the major crypto coins are included in it.
This exchange operates in 99% of countries around the world. Nonetheless, Deposits can be made only in USD, EUR, GBP, and RUB.
CEX.IO offers free of cost deposits through bank transfer. In the case of Visa or Mastercard transfer, customers have to pay a small fee. The platform also charges a transaction fee starting at 0.25%.
CEX is a beginner-friendly platform that also provides a feature of margin trading.
Bitfinex was established in Hong Kong in 2012. It offers both fiat-to-crypto and crypto-to-crypto trading features. It has a customizable, interactive user interface. Besides, advanced charts let users read market indicators.
Bitfinex takes pride in being the platform with the highest liquidity. This makes it the best crypto exchange. The trade volume at Bitfinex reaches 70 million dollars a day. It offers exchanges in all popular crypto coins.
The platform has an impressive margin trading feature. It lets user trade with up to 5 times leverage. Customers have access to peer-to-peer margin funding for executing this trade.
A dark side of Bitfinex is that it was hacked twice in the past. Once in 2016 and another time in 2019. However, Platform reimbursed all its users.
Deposits in crypto and stable coin are free. Bank and wire deposits cost a certain fee. Order execution fee at platform starts at 0.2% for takers and 0.1% for makers.
FTX is a new crypto trading exchange that came to surface in the latter part of 2019. It offers a number of up-to-date competitive features.
Deposits on FTX can be made in all popular fiat and cryptocurrencies. It offers to trade in all major crypto coins.
FTX boasts on its lowest trading fee for transactions. Fee for takers starts at 0.07% and for makers, it starts at 0.02%. Besides, there is no overload or downtime so deposits or withdrawals can be made at any time. This places it among top crypto exchanges.
FTX also offers Spot trading, Margin trading, over the counter (OTC) and Futures. Margin trading is possible at the leverage of up to 101%.
It is Leichenstein based crypto-to-crypto exchange. It offers the best security system ever. A large number of client assets are saved in clod storage, away from hackers’ reach. It is placed among top crypto exchanges due to this feature.
Bittrex takes pride in being the leader in the blockchain revolution. It works under the blockchain Act. This makes their transaction system trustworthy. It is the most secure cryptocurrency exchange.
The trading fee of Bittrex is also comparatively low. It starts at 0.20% for both makers and takers.
Bittrex can be the best trading exchange for beginners.
This is an East Africa based exchange with headquarter in Seychelles. It was founded in 2014
Bitmex is the place for safe trade with the highest liquidity. This platform employs a multifactor security system and keeps all of the funds in cold storage. In the case of intrusion by hackers, users’ money is protected.
Bitmex offers 1500% more USD/Bitcoin liquidity. The platform claims that this is the highest liquidity for the mentioned currency in any market. In terms of Bitcoin trade, this platform is among top crypto exchanges.
BitMEX has a daily trade volume of 1.33 Billion dollars. It offers margin trading with up to 100 percent leverage. Additionally, Platform has a very low trading fee. Its charges start at 0.075 % for takers and 0.025% for makers. It is the cryptocurrency exchange with the lowest fee.
Started in 2013, Coinmama has been used by 2 million people for buying crypto.
It is the best best crypto exchange for buying and selling crypto at a fast pace. Coinmama does not deal with crypto-to-Crypto exchange.
A user can buy coins from Coinmama platform using a Credit card, Debit card, or bank transfer. The coins can then be transferred to any other exchange that offers to trade. Coinmama is just a seller and not a third party platform for trade.
The speed and instant delivery of coins set this platform apart from all others. However, buying and selling costs fee up to 4%.
Bitstamp is a Luxembourg based Cryptocurrency exchange. It was founded in 2011.
Bitstamp offers crypto-to-crypto and Fiat-to-crypto trade feature. Users can deposit funds in EUR, USD, or Crypto. It also allows deposits through debit/credit cards. It charges the lowest fee for transactions through SEPA that makes it the best crypto exchange for European residents.
Bitstamp takes pride in being the longest standing crypto Exchange. However, It has room for improvement in the sense that it offers exchange in only a few coins
Bitstamp offers advanced tools for the trade. Users can stay in touch with their portfolios through the mobile app. 98% of assets are in cold storage and the user’s personal data is encrypted.
The trading fee for all pairs start at 0.50%. It gets lower with an increase in trade volume over the last 30 days.
Cryptocurrency is here to stay. In the beginning, people took an interest in crypto as a side business. But now, it is gaining importance as a mainstream business. Day trade volume at these best cryptocurrency exchanges reaches billions of dollars. This tells us that crypto is gaining acceptance day by day.
If you are interested in choosing the best cryptocurrency exchange then this guide of the top 10 crypto exchanges will help you make a better choice. Pick the best crypto exchange trading platform suiting your demands and start trade today.