The Best Cryptocurrency Exchange: A List of Top Trading Platforms
A crypto exchange is a specific platform where users are able to sell or buy cryptos for other cryptos or fiat currencies. Since the crypto boom, the number of crypto exchanges has greatly increased, and many are wondering what platform is best suited for them.
To make things easier for you, we have compiled a list of some of the top trading platforms that will help you find your best cryptocurrency exchange. You may have heard of most of them, but here you will find out more details on what they are and how they operate.
CoinBox is one of the most reliable and secure exchanges in the crypto world, having the broadest selection of crypto coins. In addition to the top 100 cryptocurrencies, including the most popular ones, like Bitcoin, Ethereum, XRP, and others, CoinBox also supports any ERC20 tokens. In total, the number of available coins that users can buy, sell, and exchange now exceeds 1,500.
CoinBox positions itself as a cloud-based mobile and desktop cryptocurrency storage and exchange app with a focus on security, speed, and convenience. This platform creates comfortable conditions for carrying out any operations with cryptocurrency and monitoring the prices of all cryptocurrencies and tokens.
The service is ideal for buying, selling, exchanging, and storing coins without any restrictions and limits. Recently there was an opportunity to sell crypto to your bank account via SEPA directly from your wallet.
In addition to being available on iOS and Android, customers can use it from the browser. Also, it’s the first app in the world that made crypto trading available on Apple Watch.
CoinBox offers its users great customer support. Highly competent and professional staff reply to all the emails instantly and solve issues quickly.
The exchange has a unique affiliate program, which gives the opportunity to receive up to 45% commission of the user’s friends’ transactions. The user just needs to send his referral code to his friends so that they can use it when signing up.
CoinBox boasts multilingualism as it supports 35 languages.
If you are new to the crypto world and looking for an easy exchange to buy or sell digital assets, then CEX.IO can be named the best cryptocurrency exchange. It is a London-based cryptocurrency exchange, and it was established in 2013.
The user interface is very simple and easy to understand. That’s why it is a perfect choice for both beginners and experienced users. The exchange currently supports 65 cryptocurrencies with different trading pairs.
Fiat currencies include USD, EUR, GBP, and RUB. CEX.IO is one of the most secure exchanges globally. It is fully regulated in the U.S and registered with FinCEN, so users can be sure of the security of their data and funds.
It is worth noting that those who are keen on maintaining their anonymity while trading crypto, they should probably opt for an exchange that does not enforce KYC identification. You can check out this no KYC exchanges list to find several suitable options.
Binance is literally the biggest cryptocurrency exchange by trading volume. At the time of writing this article, the 24-hour trading volume is in excess $60 million. Apart from being the one with the largest daily volume, Binance is also one of the fastest exchanges. In 2018, it reportedly had the capacity to process 1.4 million transactions per second. This number may have grown with the increasing number of people using the platform.
Binance is also top-notch in terms of security. This is necessary because, with such a high volume of transactions, customers’ funds must be secure, so the exchange invests a lot in security. Although it has been hacked twice, it still remains one of the most secure, with upgrades following each hack to ensure a similar hack never happens again. Binance supports a large number of cryptocurrency trading pairs with 9 fiat currencies.
eToro is a social trading platform. This means it allows new traders to learn from experienced ones by actually copying their trades through copy or mirror. It is the most prominent crypto exchange with this feature in the world. The Israeli-based exchange supports the trading of other assets apart from cryptocurrency, including CFDs, stocks, commodities, forex, ETFs, and indices.
The exchange boasts of being user-friendly with customers from over 140 countries with different languages supported. That’s why it can be one of the more expensive exchanges out there. It is fully regulated and has a strong presence in Europe and the UK, making it a very reliable one.
Coinbase is a well-known and reputable cryptocurrency exchange, which is based in San Francisco, the U.S. In January this year, the platform had 35 million users. Although it is basically an exchange, Coinbase wants to bring as many assets to its users as possible, no wonder the fast-growing number of users on the platform.
Recently, the platform launched an asset issuance platform that will allow issuers to issue digital assets with minimal involvement of Coinbase itself. Coinbase customers repeatedly complain about high transaction fees, but the exchange has a very high-security ranking and is fully regulated in the United States.
BitMEX has distinguished itself as a crypto futures trading platform, a role that is not commonly seen in the space. It is, unfortunately, an exchange for advanced traders, as leverage trading (which it offers) is quite risky. BitMEX offers up to 100x leverage for trading futures. While this magnifies the gains from trading, it also magnifies the risks that new traders are not able to mitigate.
In terms of security, BitMEX is one of the most secure exchanges as it has never been hacked. If you are an experienced trader who can handle leverage trading, then this is an exchange to check out.
Kraken is one of the oldest cryptocurrency exchanges. Although it is nowhere close to top exchanges like Binance, it is the only exchange whose security has never been breached in any form.
Moreover, it has high liquidity, with fees as low as 0% on some of its services. It is, however, a non-custodial exchange (doesn’t store users’ funds). The user interface is quite complex and, therefore, not suitable for beginners.
Gemini is one of the more recent exchanges. It was founded in 2014 by the twins Winklevoss and has recently grown to prominence. Unlike Kraken, Gemini doesn’t only facilitate the exchange of cryptocurrencies but also provides a custodial wallet and payment services. In terms of security, the exchange has military standard security features, which is quite remarkable.
Changelly is a truly exceptional platform that can be named the best cryptocurrency exchange. First, it is the only exchange that does not require KYC from customers during registration. This is quite significant, considering that some traders would prefer to stay anonymous, but most exchanges don’t permit it. Also, it has a larger number of supported assets than most exchanges and is fast. The platform has low fees, making it a go-to place for day trading retail investors.
Bitfinex is a crypto exchange that is becoming more and more popular. The platform is very popular due to its low minimum purchase, which is as low as $5. Also, the exchange does not require customer verification for crypto deposits except for fiat deposits. Moreover, it has low fees, which are 0.1% for market makers and 0.2% for market makers.
This has been our list featuring some of the best cryptocurrency exchanges that you can use. You will have to do your own thorough research to find the exchange which best suits your needs and price range. One of the websites that can help you in your search might be CryptoZink, as there is a list of cryptocurrency exchanges sorted by 24-hour trading volume.
Note: This post was originally published on 21 January 2020 and has been totally updated for the completeness and veracity of the content on 16 February 2021.
Featured image: hackernoon.com