A great cryptocurrency exchange will give their customer excellent user experience, keep their funds safe, and carefully curate trading pairs at the same time. After 30 hours of researching and testing dozens of crypto exchanges, both large and small, we’ve picked four that we love for their support, trading volume, and functionality. Each has its own unique advantages, positioning, and restrictions as well.
Binance
- ✅Considered to be the largest crypto exchange platform on the planet
- ✅The list of altcoins on the platform has exceeded 140, while transaction fees are ones of the lowest being only 0.1%
- ⛔Do not support fiat money and do not open accounts for U.S. residents.
- ✅The only larger exchange with native support for credit cards Visa/MasterCard and SWIFT
- ✅Works as bitcoin dealer as well as marketplace, also supports basic margin trading (all-in-one)
- ⛔Significally higher fees (0.25% for Taker and 0.15% for Maker)
Coinbase
- ✅Bank Account (ACH) and Wire Transfer payment methods are available for withdrawal your money.
- ✅Coinbase can also be a software wallet that can help you store, buy, and sell BTC. There is also a feature where you can request money, either in USD or BTC
- ✅The most compliant BTC exchange for U.S. account holders.
Bitmex
- ✅The most professional exchange focused on derivatives trading: daily swap contracts and weekly futures contracts.
- ✅No fees on deposits and withdrawals, leverage up to 100:1 (⚠️please, be careful if you are a beginner)
- ⛔Complicated interface, low number of coins, no fiat support at all.
Check this out: we have prepared a list of the best cryptocurrency trading platforms. You can find not only the basic features of every service but also learn its benefits and drawbacks lower.
What is a Cryptocurrency Exchange?
You can understand the main goal of cryptocurrency exchange intuitively from its title, but it is still worth mentioning that this term means an online platform or service where every person can exchange cryptocurrency for other altcoins, assets or traditional money (conventional fiat money) like dollars or pounds and vice versa.
To be able to exchange crypto coins you need to have a crypto wallet. It will store your digital money if you buy it for fiat or in any other way. One more popular way to withdraw money exchanged is prepaid cards. Money can be withdrawn in ATMs all around the world.
Cryptocurrency exchanges accept different kinds of payments including debit and credit card, bank wire transfers, e-wallets, transfers between crypto wallets, etc. Usually, they have bank accounts in several countries if they deal with fiat money to facilitate deposits in several national currencies.
Types of Exchanges
Modern cryptocurrency exchanges are divided into types on the basis of several different factors.
There are ones which require ID verification and account creation and ones which make straightforward trades.
There are centralized and decentralized exchanges on the web. Centralized digital exchanges transfer money to and out from the digital currency providers small businesses which keep and administer their customers’ accounts.
Decentralized facilitate exchange between customers instead of storing any funds on the accounts.
One more division of crypto exchanges into types looks as follows:
Trading platforms: they connect buyers and sellers to make a transaction and take a fee for that,
Direct trading: they connect individuals from different corners of the world with the goal to exchange money. Such exchanges do not have a fixed price since rates are set by every customer,
Brokers: these are websites accessible by every person who wants to buy crypto.
What Questions to Ask Before Joining an Exchange
Do you want to join an exchange but have some doubts? You start to worry that this exchange can be a fraud or the rates are too low. Be honest, each of us experiences that until we manage to find a trusted platform to exchange crypto.
Good news: we have prepared you 6 things to consider about the crypto exchange to understand if it is safe to use.
- What reputation does it have?
One of the ways to check the website reputation is to read reviews of other users. There are also multiple reviews from the experts of the industry which help to decide if this platform is one you need. It is also possible to join popular crypto forums and ask about reliable platforms there.
- What fee to pay?
Most of the exchanges take some percentage of every money transaction, but it is important to ensure what this amount is and what the difference is among deposit, transaction and withdrawal fees. - How to pay for crypto?
Every exchange platform has its own list of payment methods accepted. The bigger the choice, the more comfortable it is for a user. Experts warn about buying crypto using a credit card since it requires obligatory ID verification and is more expensive and insecure, while wire banking transfers can process payment for several days being the longest payment method. - Is verification required?
There are exchanges which accept anonymous payments and ones which do not work without ID verification. The last ones are considered more reliable but it takes several days to be verified. - What are geographical restrictions there?
There are platforms to buy cryptocurrency which accept customers only from certain countries. That is why it is necessary to check whether the country you live in is served by the exchange you have selected. - What exchange rate is there?
What is interesting, every platform sets its own rates for exchanges and such fluctuations may reach 10% and more. Shop around comparing fees on several trusted platforms to save.
Best Exchanges to Buy, Sell or Trade Cryptocurrency
The extensive growth of the cryptocurrency market led to the appearing of many different platforms which suggest buying, selling or trading them. However, since this business is connected with profit, it is not surprising that some of such websites are fraudulent and cheat their clients. If you do not want to get in such a trap, choose only trusted crypto exchanges online. You may wonder how to choose them. A full list of the top reliable trading services looks as follows.
1. Binance
- Location: Malta, China, Japan, Taiwan
- Launched in: 2017
- Interface: basic and professional
- Verification: Yes (optional)
- Fiat: No
- Fees: low
- Limits: high
- Restricted countries: Afghanistan, China, Congo, Korea, and others.
| Pros | Cons |
|---|---|
| ✅The biggest volume in the world ✅Low transaction fee ✅User-friendly interface and ease of use ✅Safe and secure ✅Over 130 cryptocurrencies |
⛔No fiat deposits ⛔Unable to provide services to residents of the US ⛔Withdrawal fees are inconsistent |
Binance is considered to be the largest crypto exchange platform on the planet. Despite being founded in China, this and several more countries are forbidden to access the platform, but all other countries use it actively on all the continents.
The list of altcoins on the platform has exceeded 140, while transaction fees are ones of the lowest being only 0.1%. This fee can be even lower if you pay for trading using its own cryptocurrency called BNB (Binance Coin).
To start trading on the platform you need to register on the website and create an account as well as complete the verification procedure.
Binance can be accessed not only from the computer but also from mobile apps (iOS and Android). The website is available in several languages including Chinese, English, Korean, Spanish, Japanese, Russian and French.
2. CEX.IO
- Location: London
- Launched in: 2013
- Interface: easy
- Verification: no (required for high volumes)
- Fiat: yes
- Fees: high
- Limits: high
- Restricted countries: Afghanistan, Iraq, and Vietnam
| Pros | Cons |
|---|---|
| ✅Support for fiat money (US dollars, Euro, and Rubles) ✅Possibility to withdraw and deposit money from credit cards and bank transfers ✅No verification for low maximums |
⛔High fees for bitcoin ⛔Opaque customer support ⛔Spiky exchange rates ⛔Complicated crypto transfers |
CEX.IO is a crypto exchange platform which was founded in 2013 in London. The main feature of this platform which makes it outstanding among other competitors is a possibility to pay for and withdraw money with and to credit cards and bank accounts.
The platform has fluctuating exchange rates with the fee that ranges between 0.5 and 2%. At the same, the transaction fee for an instant BitCoin purchase is 7%.
CEX.IO users can register on the website easily. There are 3 accounts with daily and monthly limits for deposits and withdrawal. The basic account has a maximum monthly deposit of $1,000 and a maximum monthly withdrawal of $2,000. The verified account monthly limits reach $100,000 and $300,000. The verified Plus and Corporate account are unlimited.
The platform supports such types of transfers: credit card, bank wire transfers, crypto capitals, vouchers, and personal crypto wallets.
When you get started, you need to register on the service, confirm the email address and proceed to the crypto transactions. It is possible to purchase 9 cryptocurrencies.
3. BitMex
- Location: Seychelles
- Launched in: 2014
- Interface: professional
- Verification: yes
- Fiat: no
- Fees: low
- Limits: low
- Restricted countries and territories: the US, Canada, Cuba, Crimea and Sevastopol, Iran, Syria, Korea, and Sudan
| Pros | Cons |
|---|---|
| ✅Secure ✅Low fees ✅Multi-signature wallets ✅User-friendly interface |
⛔A limited number of crypto coins ⛔Challenging for inexperienced users ⛔Low altcoin volume ⛔No mobile support ⛔Fiat is not supported |
BitMex which stands for “Bitcoin Mercantile Exchange” is a peer-to-peer crypto exchange platform focused on derivatives trading. It offers daily perpetual swap contracts and weekly futures contracts. There are no fees for deposits or withdrawals from the platform but users have to pay fees to the BitCoin network. They are associated with each transaction and depend on several factors.
To get started, users should register on the platform indicating their name and country of residence. You can exchange BitCoin by adding it to the wallet. When you decide to exchange crypto, the system will check the amount of fund on the account for it to meet all the specifications and after that, you will be able to place the order for an exchange through the dashboard. The platform supports 11 assets, but all of them except for BitCoin have low liquidity levels.
4. Coinbase
- Location: San Francisco
- Launched in: 2012
- Interface: easy
- Verification: yes
- Fiat: yes
- Fees: high
- Limits: high
- Restricted countries: all Asian, African, and Latin America countries, Australia
| Pros | Cons |
|---|---|
| ✅The simplicity of the buying process ✅Tested and tried so trusted ✅Never been hacked so secure ✅Round the clock customer support ✅Extensive service range |
⛔Higher transaction fees ⛔A limited number of cryptocurrencies ⛔Available only in the US, Canada, Europe (besides Germany), and the UK ⛔Bank transfer purchases take up to 5 days |
One of the most popular exchange platforms for crypto coins called Coindesk was founded in 2012 in London. It is widely trusted since the security measurements on the platform are very strict and it has never been hacked yet. There are over 15 million users from over 30 countries, who need to register an account and verify their personality to be able to transfer crypto.
The service supports 15 altcoins and over 50 fiat currencies.
The main deposit methods are credit and debit cards, wire transfers. When it comes to transaction fees, they vary and are considered to be higher than on other services. The minimum fee is 1.49%, while a desire to withdraw money to the bank account will cost you $25.
Coinbase also offers to create a crypto wallet directly on the platform and transfers between these wallets are free.
Depending on the way you make a deposit or withdraw money it can be instant or take up to 5 days. The platform features licenses in multiple US states and praises its users with pleasant crypto bonuses too.
5. Coinmama
- Location: Slovak Republic, Israel
- Launched in: 2013
- Interface: easy
- Verification: yes
- Fiat: yes
- Fees: high
- Limits: low
- Restricted countries: some states of the USA, sanctioned countries
| Pros | Cons |
|---|---|
| ✅Possibility to pay by cash (Western Union) ✅No middlemen in the process of purchase ✅Website is available in several languages ✅Simple and fast purchases |
⛔Minimum of altcoins and their volume ⛔Inability to link a bank account ⛔No mobile support ⛔Difficulties with selling or trading altcoins |
The main direction of Coinmama is offering users to buy crypto, though selling and trading are also possible but with high fees only. The website supports 7 cryptocurrencies through BitCoin and Ethereum dominate in this list and two fiat currencies USD and EUR. It is possible to buy crypto using the following payment methods: credit and debit card, bank wire transfer, and cash.
The process of buying a crypto is quite predictable. You need to register on the website and create an account. Then you can make a purchase, but you should also verify your personality and provide the crypto wallet for this purpose.
Residents of 226 countries can use CoinMama. The transaction fee is quite high 5.5%, moreover, you will have to pay 5% more if you purchase with a credit card.
One of the greatest benefits of Coinmama is locking they BitCoin price at the purchase time, so any fluctuations do not change its cost. The website also has daily ($5,000) limit as well as limits based on the verification level. The minimum to be purchased on the platform is 0.1 BitCoin.
6. KuCoin
- Location: Hong-Kong
- Launched in: 2017
- Interface: easy
- Verification: no
- Fiat: no
- Fees: low
- Limits: high
- Restricted countries: no
| Pros | Cons |
|---|---|
| ✅A variety of currency trading pairs ✅Provides users with passive income ✅No verification ✅User-friendly interface |
⛔No fiat money is accepted ⛔Limited payment methods ⛔Difficulty in finding English-speaking customer support |
What makes KuCoin outstanding is over 300 trading pairs of cryptocurrency on the platform. It is not suitable for beginners who have not obtained cryptocurrency yet since you can trade only crypto on this service. However, experienced users will appreciate this exchange platform with fair and reasonable fees of about 0.1%.
The main reason why many people choose Kucoin is a great reward system for clients. The platform has its own cryptocurrency called KuCoin Shares. Owners of this currency receive discounts for trading and dividends for trading fees. It means that keeping KuCoin Shares serve as a passive income for their holders since 50% of the platform revenue is divided equally between token holders every day.
KuCoin can be accessed both on PC and mobile devices. Crypto coins required for trading are sent from the crypto wallet and withdrawn to it too. There are over 5 million users from 100 countries.
7. Poloniex
- Location: San Francisco
- Launched in: 2014
- Interface: easy
- Verification: with limits no, unlimited withdrawal yes
- Fiat: No
- Fees: average
- Limits: high
- Restricted countries: China, Germany, Pakistan or Vietnam, New York state
| Pros | Cons |
|---|---|
| ✅Improved security measures ✅Margin trading ✅Customizable interface ✅Low fees |
⛔Was hacked and robbed ⛔Very detailed verification ⛔Long-term withdrawal with issues ⛔Poor customer support and services |
Poloniex is a crypto exchange characterized by high activity, safety, and advanced trading features. In addition to standard exchanges, this platform offers a unique opportunity of trading on margin. Being one of the leaders in the US market Poloniex offers services all over the whole world.
Since fiat money is not accepted, it is possible to make deposits only in crypto. The exchange fee is lower if your trade volume within a month is high. For example, when you buy fewer than 600 BTC, the maker’s fee is 0.15% and the taker’s fee is 0.25%. However, if your monthly volume reaches 60,000 BTC, a maker does not pay any commission, while a taker has to pay the fee of 0.08%.
The platform offers over 60 cryptocurrencies and you can exchange any of them only after registering on the website. The deposit and withdrawal process takes between half an hour and an hour only. It is possible to withdraw tokens without verification, but with a daily limit of $2,000. Verified clients can withdraw up to $25,000 a day.
8. Bitfinex
- Location: Hong-Kong
- Launched in: 2014
- Interface: professional
- Verification: yes
- Fiat: yes
- Fees: average
- Limits: high
- Restricted countries: Bangladesh, Bolivia, Ecuador, Kyrgyzstan.
| Pros | Cons |
|---|---|
| ✅Low fees ✅The package involves order types, margin trading, and lending market ✅High liquidity ✅Ease of use |
⛔Was hacked ⛔Multiple performance issues ⛔Not enough transparency |
One of the most popular trading platforms is Bitfinex founded in China. It offers a possibility to exchange BitCoin or US dollars for over a dozen of the most popular cryptocurrencies. Unlike many other platforms, it accepts fiat money which can be transferred from the bank account but the transaction fee is not less than $20. The exchange fees are also vulnerable ranging between 0.1% and 0.8%.
Bitfinex offers an opportunity to become a professional trader since there are many advanced features including limit and stop orders, trailing stop, TWAP, fill or kill etc. To get started it is necessary to sign-up a website, complete the registration process and provide verification documents to check your authenticity. The platform has mobile apps for user comfort too.
9. Kraken
- Location: San Francisco
- Launched in: 2011
- Interface: professional
- Verification: yes
- Fiat: yes
- Fees: low
- Limits: average
- Restricted countries: Afghanistan, Cuba, Iran, Iraq, Japan, North Korea, Tajikistan.
| Pros | Cons |
|---|---|
| ✅Marking trading ✅Security and reliability ✅Low fees ✅Fiat support |
⛔The platform does not operate properly when the market is hot ⛔Lagging USD/HTC volume ⛔Complicated user interface ⛔Not many altcoins are available |
Kraken is a leader in BTC to Euro trading volume as well as one of the oldest crypto exchanges in the market. Having been created by Jesse Powell it is one of the safest trading platforms that has never been hacked. It is impossible to start a crypto exchange on the platform without being verified. Each of 4 tiers offered on the platform requires different levels of verification and naturally deposit and withdrawal limits.
Kraken accepts both fiat (US and Canadian dollar, pound sterling, Euro, Yen) and 12 crypto coins. It is one of the cheapest exchange platforms where fees are charged both from a maker and a taker (0.16% and 0.26% respectively) and drop with the increase of the volume traded. It is not a secret that you need to pay for both fiat and crypto withdrawal too and it is hundreds of times cheaper to withdraw tokens than fiat. It is possible to transfer money to crypto wallets, opt to bank wire transfer or such popular money transference systems as SWIFT, SEPA, PayCash, SynapsePay, and others.
10. Bittrex
- Location: Seattle
- Launched in: 2013
- Interface: easy
- Verification: yes
- Fiat: yes
- Fees: average
- Limits: high
- Restricted countries: North Korea, Iran, the Crimean region, Syria, and Cuba
| Pros | Cons |
|---|---|
| ✅Updated interface ✅Good volume ✅Intuitive and easy to navigate ✅Stable and secure |
⛔Fiat money can be used only after a big deposit ⛔No margin trading ⛔Some accounts are suspended |
Launched by former Microsoft employees Bittrex has become one of the most trusted crypto trading platforms with multiple alternative crypto coins. You can use the platform only after sign-up and completing identity verification which lasts only about 10 minutes.
The platform features some advanced trading features including stop-loss, good ’til canceled (GTC), an instant buy or sell, and multiple charts to evaluate.
Fiat USD deposits can be made only via bank wire transfers, but it is possible to trade stablecoins such as Tether too. In general, you can exchange crypto for over 400 altcoins on the service. Their volumes are decent and never run out.
The flat commission of 0.25% is applied to any trade on the platform. The operation of the crypto exchange is compliant with US laws.
11. ShapeShift
- Location: Denver
- Launched in: 2013
- Interface: easy
- Verification: no
- Fiat: no
- Fees: average
- Limits: high
- Restricted countries: no
| Pros | Cons |
|---|---|
| ✅Easy user interface ✅No exchange fees ✅No verification |
⛔Was attacked by hackers 3 times ⛔Poor exchange rates ⛔No fiat support |
ShapeShift is an exchange platform where users have access to over 50 cryptocurrencies. The main peculiarity of this platform is no necessity to verify your identity and even register an account if you do not wish. It is enough to enter the relevant crypto address and your transaction will be completed almost instantly with the crypto coins to be delivered directly to the user’s wallet. One more great benefit of SpaceShift is no specific fees charged outside the miner fee. When you type the crypto amount to exchange, you see the amount to receive and nothing is taken from this sum since the miner fee is considered in the exchange rate already.
12. LocalBitcoins
- Location: Finland
- Launched in: 2012
- Interface: easy
- Verification: no
- Fiat: no
- Fees: average
- Limits: low
- Restricted countries: no
| Pros | Cons |
|---|---|
| ✅Improved security ✅Multiple payment methods ✅Secure ✅Professional customer support team |
⛔Only Bitcoin trade ⛔Low volume ⛔High chances to be scammed by sellers |
LocalBitcoins is an exchange platform with over 100,000 active traders and a trade volume of Bitcoins up to 3,000 a day. Being a peer-to-peer trading platform LocalBitcoins allows sellers and buyers to communicate with each other to trade Bitcoin. It is one of few services with such a wide range of payment methods though you can purchase only BitCoin there. They include PayPal, Neteller, Skrill, Payoneer, and many others. Since there are high chances to be scammed, users have a reputation system on the website and must be verified if they enter the platform from other IP address. There is no fee for buying or selling BitCoin on the platform but users have to pay 1% if they create advertisements. It is possible to keep purchase Bitcoins on LocalBitcoin wallet or transfer them to your personal crypto wallet free of charge (paying only the standard network fee).
13. Huobi
- Location: Singapore
- Launched in: 2013
- Interface: easy
- Verification: No (yes with higher limits)
- Fiat: no
- Fees: average
- Limits: high
- Restricted countries: the USA, China
| Pros | Cons |
|---|---|
| ✅Support for mobile devices (there is an app) ✅A variety of digital tokens to trade ✅New users can learn how to trade thanks to the manuals and pre-trade programs ✅Secure |
⛔No fiat money ⛔Accusations of trading volumes to be falsified |
Huobi is a crypto exchange service which was launched in China but is based in Singapore now. It offers to sell or buy over 90 cryptocurrencies under quite appealing terms. The trading fee on the platform is paid both by maker and taker being equal 0.2% for each party. At the same time, no fees are taken for deposits and withdrawals. Users from over 130 countries can use Huobi but the USA is out of the list, unfortunately. You can exchange crypto without verification on the platform but there is a limit of 200 Bitcoins per day then. If you verify your ID and get VIP status on the platform you will be rewarded by the platform too. The service is absolutely safe paying much attention to the assets protection and has round the clock customer support to help users.
14. Bitstamp
- Location: Luxemburg
- Launched in: 2011
- Interface: professional
- Verification: yes
- Fiat: yes
- Fees: average
- Limits: high
- Restricted countries: countries of Asia, Africa, and Latin America
| Pros | Cons |
|---|---|
| ✅Secure ✅Excellent customer support ✅High liquidity ✅Globally recognized ✅Fiat to crypto trading support |
⛔A limited selection of tokens ⛔High deposit and withdrawal fees on certain payment methods ⛔Limited number of countries |
Bitstamp has been founded by Nejc Kodrič and Damijan Merlak in 2011 and is considered to be one of the oldest crypto exchanges in the world. It allows trading not only such popular crypto coins as Bitcoin, Litecoin, Ethereum, Ripple or Bitcoin Cash but also using fiat money such as USD and EUR. The platform was created especially for the European market and accepts payments in fist only via Single Euro Payments Area. The deposit methods available on the service include Credit card, Cryptocurrency, Debit card, Bank transfer (SEPA) and Wire transfer. The trading fee range is between 0.1% and 0.25%. However, in some cases, you will need to pay extra for the deposit and withdrawal too. It is one of four world’s platform to determine the CoinDesk Bitcoin Price Index (XBP). The minimum trade size is $5, while you need to pass through the verification process to start trading.
15. Gemini
- Location: New York
- Launched in: 2013
- Interface: easy
- Verification: yes
- Fiat: yes
- Fees: low
- Limits: high
- Restricted countries: countries of Asia, Africa, and Latin America, some US states
| Pros | Cons |
|---|---|
| ✅Strong reputation ✅Fiat support ✅Big volume trades have discounts ✅Low fees |
⛔A limited number of countries ⛔Only a few trading pairs ⛔Minimum of funding methods |
Gemini exchange was founded in 2014 and has deserved the title of the world’s first licensed ether and Zcash exchange. The platform allows trading such crypto coins as BTC, ETH, LTC, ZEC, GUSD and buy them for the American dollar in addition to crypto. Consequently, in addition to transfers between crypto wallets, users can deposit and withdraw crypto via Electronic Funds Transfer and Wire transfer.
Gemini is regulated by the New York State Department of Financial Services and operates in such countries as the US, Canada, the UK, South Korea, Hong Kong, and Singapore. The trading fees in the platform are about 0-0.1% being ones of the lowest in the market. To get started, it is necessary to register on the website by choosing a personal or institutional account. It is also possible to open your own wallet on Gemini Custody Service and store your coins securely.
16. Mercatox
- Location: London
- Launched in: 2016
- Interface: easy
- Verification: yes/no
- Fiat: yes
- Fees: average
- Limits: high
- Restricted countries: no
| Pros | Cons |
|---|---|
| ✅A variety of cryptocurrencies to trade ✅0.25% fee on all trades ✅Multi-currency wallet ✅Referral program |
⛔No credit card/bank transfer deposits ⛔Low trading volumes on many pairs ⛔No mobile app |
Mercatox is a peer-to-peer trading and exchange platform where it is possible to deposit not only cryptocurrency but also fiat money. The platform daily trading volume is over $1 million since the number of altcoins is very big over 200. Users can register on the website and open their e-wallet on the platform to be able to trade there. There is an order system to prevent scams as well as a wide range of different payment methods including OKPAY, Payeer, Perfect Money, Qiwi, Yandex Money and others. It is possible to make deposits in three basic currencies such as USD, EUR, and Russian ruble. The service can boast over 280,000 active users and quite competitive trading fees 0.25%. The official website is available in three languages: Russian, Chinese, English. There is a user-friendly interface and stylish design. The platform also has some advanced features such as exchange on trade, currency storage, P2P exchange.
Conclusion
Crypto Trading must be performed only on the trusted and reliable platforms. Each service has its own list of altcoins supported as well as different fees and features. This list of the best cryptocurrency exchanges has shown that there are many online exchange services which deserve your trust since they have been checked by time and thousands of users who trade there regularly.