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The crypto industry has lived up to its reputation of being highly volatile. It’s the volatile crypto prices and the broader market scene of leading companies and exchanges. After recent developments, the crypto exchange industry has seen massive changes, especially after trading platforms like FTX have fallen.
We have brought you this updated guide on the top cryptocurrency exchanges so you know which trading platforms are best today. We’ve evaluated the best trading platforms in the crypto world for a wide range of factors, including but not limited to trading volume, features, number of coins, transparency, and security.
10 Best Crypto Exchanges on the Market
- Binance – Largest Crypto Exchange & Best Overall
- Bybit – Best for Transaction Speed
- Kraken – Best for Transparency
- Gemini – Best for Security
- Crypto.com – Best Mobile App
- KuCoin – Best for a Variety of Cryptocurrencies
- Coinbase – Best for Beginners
- BitMEX – Best for Derivative Trading
- Bisq – Best Decentralized Exchange
- Gate.io – Best for Altcoins
Which cryptocurrency exchanges you use may depend on many factors. However, the most important determining factors are where you live and what you seek to do with your cryptocurrency.
We have considered various factors to develop this list of the best crypto exchanges. Our ranking methodology includes trading volume, trading features, transparency, and security as the most critical components of a good crypto exchange. We also examined the number of coins listed, compatibility with crypto trading signals, transaction speed, and extra offerings.
Read the Ranking Methodology section below to learn more about how we chose the top cryptocurrency exchanges.
Best Cryptocurrency Exchanges: Which is the Best?
Below we take you through the best crypto exchanges. From there, you determine the ideal fit for you now and in the future. This guide will help you if you want to learn how you can make a portfolio or update your portfolio strategies and make sure your crypto exchange has the coins and trading volume.
Not just that, quality crypto exchanges also offer a resource center for your learning. We also have the list of best crypto exchanges for your crypto trading signals needs. We cover all aspects here.
1. Binance – Largest Crypto Exchange
Binance is the largest trading platform and one of the best crypto exchanges. Hundreds of cryptocurrencies are offered by Binance globally. Regarding the US, Binance.us is no longer available for US citizens.
Binance offers all of the major cryptocurrencies, such as Bitcoin (BTC), Binance Coin (BNB), Ethereum (ETH), Litecoin (LTC), Dash (DASH), Dogecoin (DOGE), and many others. The official wallet for Binance users is the Trust Wallet, a free app users can find on the App Store and Google Play. But traders can use any reliable crypto wallet if they like.
Regarding customer service, users can choose from three basic options: using the chat option, submitting a ticket, or contacting them through Twitter.
Binance also offers numerous educational resources through Binance Academy, such as articles, webinars, courses, and so much more. Read our Binance review for a more in-depth look at the crypto exchange.
Users can trade through Binance’s website, mobile app, or desktop app. Numerous trading tools and real-time charting tools are available for all Binance traders. Some other features available include:
- Ability to access the trade history and portfolios
- Viewing price charts and the order book
- Margin trading
- Different order types, like stop-market orders, limit orders, stop orders, trailing stop orders, and stop-limit orders
As compared to other leading platforms, Binance offers the lowest trading fees. Although the trading fees of US-based Binance users are slightly high, it’s still lower than other trading platforms.
In the past, Binance didn’t have a lot of transparency when it came to its reserves. However, in 2022, Binance’s wallet addresses will be public and issue monthly reserves reports on the BUSD stablecoin. Also, the CEO of Binance, Changpeng Zhao, promised to show their Proof of Reserves reports regularly.
Binance’s security comes with two-factor authentication through text messages or the Google Authenticator app. It also offers device management, address safelists, and the ability not to allow device access. Despite all of these protocols, Binance’s security offerings are average.
2. Bybit – Best for Transaction Speed
Bybit is the best crypto exchange in terms of transaction speed. It offers a variety of advanced trading tools. This crypto derivative exchange has a transaction speed of over 100 Transaction Per Second (TPS).
Bybit can be accessed globally except in the US, Singapore, Iran, Cuba, North Korea, Mainland China, Sudan, Canada (Quebec only), Crimea, and Sevastopol.
Bybit offers all major cryptocurrencies, such as Bitcoin (USD and USDT), Ethereum (USD), Ripple (USD), and EOS.io (USD). All of these cryptocurrencies can be stored in the Bybit Wallet, which is its official wallet.
Also, there’s 24/7 customer support available worldwide, both through live chat and the phone. Bybit offers numerous educational resources as well, such as courses and guides for all levels of traders. If you’re torn between BitMEX vs. Bybit, you might want to pick the latter for Bybit copy trading features.
Bybit offers three contract options for its trade derivatives products: USDT Perpetual, Inverse Perpetual, and Inverse Futures. Plus, Bybit provides access to different trading features, such as isolated and cross-margin trading.
It also offers a variety of data analysis tools for accessing different types of data, like moving average indicators, price moving averages, monthly price ranges, and so on. Using Bybit crypto signals with the Bybit exchange’s copy trading feature is also convenient.
Bybit gathered a net cost of 0.05%. Users will be charged a withdrawal fee. The withdrawal limits of Bybit are 10BTC, while daily withdrawal limits are 0.0005 BTC. Its funding fee is 0.02%/ -0.02%. Moreover, Bybit charges a 0.075% fee for Takers, while the maker fee (rebate) is 0.025%.
Bybit is considered to be an extremely safe cryptocurrency exchange. Most of their funds, including users’ funds, are stored in cold storage. Plus, Bybit is working towards offering a fully transparent Proof of Reserves solution to show that their clients can depend on them with their funds.
20% of Bybit’s annual budget goes to its platform’s security, compared to the 15% spent by other platforms. As mentioned above, it uses cold wallets for storage, with solid security management. They also have an efficient two-factor authentication system.
3. Kraken – Best for Transparency
Kraken is one of the oldest crypto exchanges, best known for its transparency. It has been the ultimate go-to exchange for reliable and safe trading. It’s available in the majority of countries, including the US.
Moreover, Kraken supports over 110 cryptocurrencies, such as Bitcoin, Cardano, Ethereum, Dogecoin, Ripple Polkadot, and many others. This also includes stablecoins like the USD Coin, Dai, and Tether. Users can also convert US dollars into other currencies like Japanese Yen, Canadian Dollars, and Swiss Francs, to name a few.
24/7 customer support is available through phone, email, and live chat. Plus, Kraken offers different educational resources to its users, like videos and articles. Read the Kraken review for a more detailed analysis of the exchange. Binance and Kraken often come head-to-head, so here’s a Binance vs. Kraken comparison to help you choose.
Traders can choose from Kraken or Kraken Pro based on their trading experience. The central Kraken platform is excellent for beginners to purchase cryptocurrency, link their bank accounts, convert currencies, etc.
Kraken Pro works through a smartphone or web browser. The interface might be complicated for beginners, but it’s worth learning. It offers active charts and other detailed information.
The fees and prices depend on certain factors, like the trade, the platform, spread fees, etc. When it comes to the costs, Kraken’s fee is 1.5% for the majority of the cryptocurrencies, including 0.9% for stablecoins.
On the other hand, Kraken Pro comes with lower pricing, primarily based on the total trading volume of the last 30 days. This includes a 0.16% maker fee and a 0.26% taker fee.
Back in 2014, Kraken developed the use of regular asset audits. Plus, they hired a well-known accounting firm, Armanino LLP. This helped them produce different Proof of Reserve audits over the past few years. Kraken is the first-ever exchange to perform these cryptographic audits regularly.
Kraken offers two-factor authentication for signing in, trades, and account withdrawals. Users also have the option to lock their accounts if they are suspicious of any fraudulent activity. Some users claimed their accounts to be hacked, while most were satisfied with Kraken’s security protocols.
4. Gemini – Best for Security
Gemini is the best crypto exchange when it comes to security, and it’s a beginner-friendly platform. This crypto exchange is available in over 60 countries, including the US. This also includes New York, which is often omitted from crypto exchanges.
Regarding cryptocurrencies, Gemini doesn’t offer as many except the major ones. This includes Bitcoin, Dogecoin, Ethereum, Gemini Dollar, Cardano, Solana, and USD Coin, to name a few.
Moreover, Gemini provides a Hot wallet for its users. It also offers numerous educational resources for traders of all levels.
Users can trade through Gemini’s mobile app and website. The platform has a beginner-friendly platform where traders can easily purchase and sell cryptocurrencies. For more experienced traders, the ActiveTrader platform has multiple order types, advanced charting tools, and easy and quick trade execution.
Gemini’s trading fees depend on the platform used and the trading amount. For instance, there’s a desktop fee schedule and a mobile fee schedule on Gemini. Its fee structure differs from other exchanges with a maker or taker fee model.
For trades over $50 but under $200, the fee is up to $2.99. For transactions over $200, the price is 1.49%
The Gemini Dollar is audited monthly by BPM, a private accounting firm. It ensures parity between the amount of Gemini Dollar in circulation and the amount of USD in reserve.
Also, anyone can see Gemini Dollar’s transaction history, including the current market cap, price, and other information, on different Ethereum network block explorers like EtherScan.
Gemini comes with two-factor authentication, the option to check and approve the different devices used to log in, and a wallet address safe listing. Moreover, users must go through a KYC (Know Your Client) verification process to use Gemini’s trading features.
5. Crypto.com – Best Mobile App
This cryptocurrency exchange includes trading, staking, investing, NFTs, and wallets. Users who want to utilize cryptocurrency properly benefit from this exchange’s crypto-related products.
Crypto.com is available in 90 countries, including the US (except New York). But some of its currencies aren’t available everywhere. When it comes to cryptocurrencies, Crypto.com supports all of the major ones, like Bitcoin, Ethereum, Dogecoin, Cardano, Polkadot, and so on. Crypto.com also has its native token, CRO.
The DeFi Wallet is known as a non-custodial wallet that Crypto.com uses. Users get full access to all DeFi services through this. Crypto.com’s customer support is available through live chat, email, and a help page. Some users did report receiving slow responses, and their issues remained unsolved.
Crypto.com launched its university, the ultimate learning place for people looking for crypto knowledge. Users can access various articles on the app, try different quizzes, and get other rewards whenever they pass a course. Here’s a Crypto.com vs Binance comparison to help you choose between the two.
The Crypto.com app allows users to access popular assets and quickly access their portfolios. Crypto.com is one of the best crypto exchanges with a great mobile app with everything a user needs to make payments through crypto, trade currencies, apply for a Crypto.com credit card, and so much more.
Although the chart tools don’t offer much information, they are simple enough to use. But a summary and links on each currency’s page give the user more details.
Generally, Crypto.com’s trading fees are low, but not the lowest among its competitors. Crypto.com users that are new and don’t have any CRO staking are required to pay a 0.4% fee on trades with less than $25,000 of total trading volume per month.
When it comes to higher-volume traders without CRO staking, they qualify for a 0.1% fee as a taker and a 0.04% fee as a maker. Users can get discounted trading fees if they have a minimum of 5,000 CRO in their wallet. The more significant the stake, the lower the rates will be.
Crypto.com has shared its cold wallet addresses for a couple of the most significant assets on its platform. They are still working on sharing their Proof of Reserves and getting help from a reputable auditor.
Crypto.com comes with multi-factor authentication and safelists, including various other security measures to keep their customers’ accounts safe. Also, they store their customers’ deposits offline and within cold storage to prevent losses.
Of course, it’s also essential to use a strong password and personal online security practices to help protect your account. Cryptocurrency transactions can’t be reversed, so you’ll unlikely recover any lost crypto if your account is breached.
6. KuCoin – Best for a Variety of Cryptocurrencies
KuCoin is available in over 200 countries and is the best crypto exchange for different cryptocurrencies. Also, despite some features, this crypto exchange has received poor reviews.
There are over 600 cryptocurrencies available at KuCoin, including some of the major ones like Bitcoin, XRP, Ethereum, Dogecoin, etc. These cryptocurrencies can be stored in the KuCoin Wallet, a self-custody wallet, and users have complete control over their assets.
When it comes to customer support, KuCoin has a live chat option, and users can submit a request to get some assistance. There’s also a support page available for additional help.
KuCoin does not offer educational resources, but its website has a blog section where users can get all types of crypto-related information.
KuCoin can be accessed through its mobile app and desktop website, and it comes with numerous tools and features. Users can purchase crypto, view markets, lend crypto, trade, and do so much more through the mobile app or desktop site.
Recently, KuCoin launched a Trading Bot that helps simplify the trading process. Plus, the KuCoin platform offers four order types – limit, Market, stop-market, and stop-limit. P2P, futures, and margin trading are available as well.
At KuCoin, a tiered maker or taker fee model is available, where trading fees range from 0.0125%-0.1%. This percentage is based on the user’s tier level. The trading fees are low as compared to the competitors.
Moreover, users can get trading fee discounts according to their KCS (KuCoin Token) balance. KuCoin charges withdrawal fees, but the deposits are free.
KuCoin has shared the addresses of their hot and cold wallet online. The people at KuCoin believe in complete transparency and claim to always share the details of their Proof of Reserves.
Despite the industry-standard security features and KYC verification, KuCoin got hacked in 2020, where millions of dollars were stolen from users’ crypto wallets. Thankfully, everything got covered through an insurance fund.
KuCoin has since then added more security protocols, such as multi-factor authentication plus encryption. Users have a separate password for trading purposes, adding an extra protection layer.
7. Coinbase – Best for Beginners
Coinbase is considered to be one of the best crypto exchanges for beginners. Users can purchase, trade, and sell more than 100 cryptocurrencies. Coinbase has over 98 million users worldwide, excluding Singapore and other countries restricted by OFAC (Office of Foreign Assets Control).
When it comes to cryptocurrencies, Coinbase supports more than 100 coins, such as Bitcoin, USD Coin, Ethereum, Solana, Cardano, and many others. Plus, Coinbase customers can select a self-custody wallet or a hosted wallet. There’s also a Coinbase Wallet app that users can opt for, a non-custodial wallet.
Several users reported having issues with Coinbase’s customer support, as contacting a living person is hard. Therefore, Coinbase is considered a self-service. There’s a help page, an automated phone system, a chatbot, and emailed support tickets.
Also, Coinbase has a “Resources” section on its website where visitors will find guides, case studies, tutorials, and other educational resources.
There are two platforms available, Coinbase and Coinbase Pro. Users can opt for both platforms to purchase, trade, and sell cryptocurrencies. However, they come with different features.
Users with basic computer skills will find the beginner-friendly Coinbase easier to use. It can be used through the mobile app or on a desktop website. The experience is similar to trading stocks through a brokerage online.
Professional traders will enjoy using Coinbase Pro with all of its unique features. Extra trade types, limits, and stop orders aren’t available on the standard Coinbase platform. Also, anyone with a Coinbase account can access the pro version, regardless of being a beginner or not.
Coinbase removed its fee and pricing schedule from the online help section of its website. But, costs are visible on the trade screen when a user enters a trade. Therefore, users know what they are paying for before joining a business.
Trades over $200 come with a percentage-based fee, not a flat one. Additional fees might be charged for other services, like withdrawal methods, funding, USD wallet, crypto conversion, etc.
Coinbase’s stocks are available on Nasdaq’s stock market under COIN. It’s considered a secure crypto exchange with more than 56 million users spread out in over 100 countries.
Coinbase installed industry-leading security protocols to protect its customers’ assets and deposits. 98% of the assets are kept safely offline within cold storage. The website installed bank-standard security and encryption. Plus, all users have to go through a two-factor authentication process.
8. BitMEX – Best for Derivative Trading
BitMEX is known as the best crypto exchange in terms of derivatives, which allows investors and traders to purchase perpetual and future swap contracts through different cryptocurrencies. The business is available worldwide except in the US, Iran, North Korea, Syria, Cuba, Sudan, Crimea, and Sevastopol.
The BitMEX exchange supports 18 cryptocurrencies, such as Bitcoin (XBT), Bitcoin Cash (BCH), Ethereum (ETH), Dogecoin (DOGE), Binance Coin (BNB), and so on. Users can store their cryptocurrencies in a cold multi-signature wallet, while other assets are held in Cold and Hot Wallets.
When it comes to their customer service, it doesn’t offer phone support, but you can contact them through email or support tickets. Also, BitMEX recently launched its BitMEX Academy, which is a multimedia crypto educational platform. Read our Bitmex guide for more details on this exchange.
Some of BitMEX’s trading features include trading Bitcoin with total leverage, innovative crypto trading, pricing APIs, low-latency trade execution, low-latency market data, etc. It’s one of the best crypto exchanges for auto-trading with crypto signals. Find out more about the best BitMEX crypto signals here.
BitMEX’s trading fees are pretty low. It doesn’t charge deposit or withdrawal fees when it comes to Bitcoin. BitMEX doesn’t trust the deposit fee for Tether USD either. Plus, price takers only pay a 0.05% commission, and the price-makers get a 0.01% rebate on every trade.
The BitMEX platform is said to be among some of the safest ones for margin trading. Plus, traders can use the BitMEX app for crypto and fiat currency investments.
However, recently, BitMEX came under fire for allegedly violating US trading rules. This greatly impacted its reputation when it came to sticking to bank regulations.
BitMEX installed an MPC (multi-part computation) system, which allows multiple parties to handle a function on encrypted data and not let any data leave the encrypted domain besides the desired outcome. According to BitMEX, MPC protects the platform from attackers trying to steal funds.
9. Bisq – Best Decentralized Exchange
Bisq is considered the best-decentralized exchange due to its ability to allow users worldwide to purchase and sell cryptocurrencies securely, making it one of the best crypto exchanges.
It doesn’t have to work with 3rd-party platforms to sell bitcoins. Bisq is available worldwide and supports significant cryptocurrencies like Ethereum, Bitcoin, Dogecoin, etc.
A dedicated crypto wallet lets traders store their security deposits and fees. Plus, Bisq has a strong customer service team, where users can contact them through the mail. There’s also a detailed FAQ section. Bisq doesn’t offer educational resources but has a blog section on its website.
Users must run a desktop application to trade on Bisq’s platform rather than using a website. All a trader needs to do is install the application, add their bank account, choose a payment method, and they are all ready to start trading. Also, there’s no central server due to its P2P nature.
The makers and takers must pay 0.001 BTC to trade on the platform. Plus, there’s an extra 0.0003 BTC mining fee. This fee is charged three times: when a user deposits money from their external wallet, throughout the trade, and during funds withdrawal. This makes the total mining fee to be 0.0009 BTC.
The withdrawal fee is 0.0003 BTC, less than the global industry average.
Since this crypto platform is a peer-to-peer exchange, this makes it more secure to use for trading purposes and keeps it safe from hackers.
This is a decentralized cryptocurrency exchange, which means that its servers are located all across the globe. Due to a decreased risk of server downtime, decentralized exchanges are immune to cyber-attacks. For instance, if one server gets hacked, this won’t affect the other servers.
10. Gate.io – Best for Altcoins
Gate.io is considered one of the fastest-growing platforms with a leading IEO (Initial Exchange Offering) platform, margin trading with leverage, many cryptocurrencies, and several other services, like margin borrowing. It’s the best crypto exchange in terms of altcoins.
Gate.io is available globally, except in the US and Canada, due to the recent regulatory environment in these countries. Plus, it supports over 1,400 cryptocurrencies, which include Bitcoin, Binance Coin, Ethereum, Dogecoin, and many others. Gate.io provides its account holders with free wallets to store cryptocurrencies. It also uses a hot wallet and cold storage.
Regarding their customer service, there’s a 24/7 live chat, an option to submit support tickets, and a detailed FAQ section. Also, Gate.io offers various educational resources through articles in their Gate Learn section on the website.
Gate.io wants ease of use for their users. Thus the platform interface is similar to other popular competitors, like Binance. Some features can get overwhelming initially, but going through other website sections is easy. Through the main menu, users can go to different areas of the website, like margin trading, crypto markets, lending, financial services, and so on.
Despite all this, users view the overall appearance of Gate.io to be a bit complicated, with several activities going on simultaneously.
Gate.io charges competitive trading fees, similar to other crypto-to-crypto exchanges. There’s no fee for the deposits. There’s a small withdrawal fee, a 0.2% margin, and a spot trading fee. Regarding individual coins, like Ethereum, Gate.io tends to be cheaper. But it charges much more for withdrawing BTC, XRP, and other related coins.
Gate.io is committed to providing all of their Proof of Reserves. They work with Armanino LLP to offer their users all the relevant information. Their second Proof of Reserves audit results are on Armanino’s website.
Gate.io offers two-factor authentication to its users through Google Authenticator and text messaging (which is considered to be insecure). Users are required to verify before logging in. There’s an extra fund withdrawal password, blind IP logins, and an anti-phishing code.
Ranking Methodology for the Best Cryptocurrency Exchanges
We focused on the criteria mentioned below to classify and choose the best crypto exchanges:
- Trading Features: This includes the key metrics within the cryptocurrency platform
- Trading Fees: This consists of the trading fees of each crypto sale on a platform
- Platform Accessibility: This shows the availability of each exchange to see where it’s banned and where it’s allowed
- Customer Services: The efficiency of the crypto exchange’s customer support
- Cryptocurrency Listing: This shows the number of coins listed on the exchange
- Educational Resources: We checked to see if the crypto exchange offers any educational resources
- Security: The efficiency of the security features
- Transparency: This shows how reliable a crypto exchange is and if it has made its Proof of Reserves available to its users
- Crypto Wallet Availability: If the crypto exchange has an in-built wallet or not
What is a Cryptocurrency Exchange?
A crypto exchange is considered a marketplace where cryptocurrencies are purchased and sold. It’s similar to other trading platforms, where users can create order types to sell, buy, and speculate within the crypto Market.
Certain crypto exchanges come with advanced trading features, such as margin accounts. However, these aren’t always available to users in the US. On the other hand, other exchanges come with crypto loans and other related features. The best crypto exchange also offers educational resources to all its users.
What are the Different Types of Crypto Exchanges
Crypto exchanges are divided into the following categories: centralized exchanges and decentralized exchanges.
Centralized Exchanges (CEX)
A single organization controls these exchanges. It allows users to convert their fiat currency into crypto directly. Most of the crypto trading occurs on centralized exchanges.
However, some crypto enthusiasts don’t believe in centralized exchanges as it goes against the decentralized characteristics of cryptocurrency. Another issue with this type of exchange is the high risk of hacking and losing assets when trades go through. Centralized crypto exchanges have strengthened their security due to this issue in the past few years.
Decentralized Exchanges (DEX)
This exchange divides the responsibility for accelerating and verifying cryptocurrency trades. Users looking to become a part of a DEX network can certify transactions, similar to how crypto blockchains operate. This increases accountability and transparency and ensures a crypto exchange continues running.
However, decentralized exchanges are considered less user-friendly regarding different features, such as currency conversion. Users can’t deposit dollars, for example, to exchange them for cryptocurrency. Meaning a user should own crypto already or utilize a centralized exchange.
What Fees Do Crypto Exchanges Charge?
Users pay two types of fees when they purchase and sell crypto. These fees are discussed in more detail below.
A user might have to pay trading fees as a flat percentage for the amount of crypto they purchase and sell. Or, a crypto exchange might charge its makers and takers a different rate.
Makers add liquidity within an exchange, which means they don’t fulfill standing orders. On the other hand, Takers get rid of liquidity from a crypto exchange by fulfilling orders and waiting for a trade. Based on the exchange, taker fees are higher than maker fees. However, this is not always the case.
Withdrawal fees depend on the cryptocurrency. Some exchanges charge a certain amount of fee when withdrawing coins. This can be a problem for users who want to move their crypto to another exchange or within a secure third-party wallet.
If you move your crypto, look for exchanges with little to no withdrawal fee.
A user participating in advanced trading strategies, such as margin trading, will get charged extra fees when borrowing money. Certain beginner-friendly exchanges offer quick buy features but have higher fees. Users can avoid these features by educating themselves on how to purchase and sell on the trading platform of a crypto exchange.
Moreover, when a user buys through their debit card or credit card, they might get charged a premium by their card issuer and the exchange. Therefore, experts recommend purchasing crypto using wire transfers or cash.
Best Crypto Exchanges – Conclusion
Regarding the best crypto exchanges, look for the one that meets your specific needs. This helps beginners who are interested in crypto investing or trading. There are numerous best crypto exchanges to choose from, whether you’re looking for the one with the lowest trading fees, the best mobile trading app, or a massive quantity of digital currency to trade.
Remember your priorities and goals, and select the crypto exchange that best fits your requirements.