Crypto trading continues to be a major way of making profit, so the issue of choosing a reliable exchange is still relevant. Making that choice is very complicated, as there are hundreds of options available on the Net. How to choose the best exchange? In our guide, we provide a list of top 10 cryptocurrency trading platforms: they have been tested by time and millions of investors.
What Makes a Trading Platform the Best?
When in search of the best crypto trading platform, pay utmost attention to the following criteria:
Reputation Of The Exchange
Some cryptocurrency exchanges have been around for a very long time: they have a good reputation. But how can a beginner discover those platforms? As in any business, you need to see or hear the opinion of people who have already worked with several cryptocurrency exchanges. Visit forums where the top cryptocurrency trading platforms are discussed.
This aspect is very important. Note that not all cryptocurrency exchanges work with Visa and MasterCard payment cards. In addition, when using a bank card, you have to go through multi-level verification.
When you deal with a bank transfer, the deposit/withdrawal procedure will be delayed – it may take up to 5 business days. In addition, when making a SWIFT transfer to a cryptocurrency exchange, some users may experience problems: your bank will not be able to send an international transfer because of the purpose of payment. When choosing a cryptocurrency exchange, always pay attention to the methods of depositing and withdrawing: check how many payment systems are supported.
Fees & Commissions
Each exchange charges fees for deposit or withdrawal operations. The size of these fees is always indicated on the websites, so find this information before you register. Found no fee information on an exchange’s website? Pass it by and try a different platform.
Aside from deposit and withdrawal fees, each crypto coin trading platform charges exchange fees. They differ greatly from platform to platform and, what’s important, taker and maker fees are not equal (on some websites, they are 0%). Rate may depend on the currencies used, sum, time of transaction, etc. It makes sense to compare them and choose the most profitable option for yourself.
Each cryptocurrency exchange platform has its own rules. In order to perform any operations on such sites, you will need to go through the verification, e.g. confirmation of your identity. As a rule, the process of verification does not differ much from platform to platform: you have to provide your email, phone, and passport or ID photo. Cryptocurrency exchanges do this solely to protect against money laundering and fraud.
Geographic Location Restrictions
Some cryptocurrency exchanges may have geographical restrictions: it is always indicated on the official website of the exchange. For example, the American cryptocurrency exchange CoinBase is not available to users from CIS countries.
Pro tip: avoid exchanges registered in the offshore zone. With a high degree of probability, you will deal with scammers, or the site will be simply unreliable.
Binance is a great example of what the best crypto trading platform should be. Initially, the resource did not work with fiat funds at all. Later, after receiving numerous customers’ requests, the affiliate Binance Jersey platform was opened to exchange cryptocurrencies for fiat currency.
The daily turnover of the Binance crypto exchange is $1 bln US dollars, and on the peak of trading, it even reached $4 bln.
The platform boasts:
Convenient multilingual interface;
A large number of trading pairs;
Support of margin trading with a leverage of x2;
Low commissions – 0.1%;
The exchange processes up to 1.4 million orders per second;
Support of the most popular cryptocurrencies and the possibility to create a wallet for each of them;
Additional tools for convenient trading and analytics.
Binance has minimal commissions, and users can withdraw up to 2 BTC per day without identity verification. Mobile applications for Android and iOS are available.
Bittrex platform stores most of its digital assets in cold wallets. Clients are provided:
An extensive selection of cryptocurrency pairs;
High level of security;
Zero commission replenishment and withdrawal of funds from the deposit.
The ability to exchange virtual money for fiat at an acceptable rate.
However, you can only withdraw coins when the verification of the account is completed. Residents of some American states do not have the right to register on this site due to local laws. The minimum trading volume on Bittrex is equivalent to 0.00005 BTC
Huobi is a cryptocurrency exchange founded in 2013: today, it is an expert trading platform for professional traders. Initially, Huobi operated only in China, but in 2017-2018, the platform was opened to the world. According to the statistics from CoinMarketCap, this is one of the TOP 10 exchanges in terms of trading volume. Daily trading volume exceeds $1 bln. Huobi is known for high data security, so special attention should be paid to registering and verifying your account.
Huobi has the following advantages:
6 years of experience in the field of financial services for digital assets
Increased security: the platform uses a specialized distributed system of protection against hacker attacks, and 98% of user funds are stored offline on “cold” multi-signature wallets;
Priority compensation system and investor protection fund;
The interface supports 13 languages;
Referral program: invite a friend and get 30% of their commission fees;
Multi-platform access: applications for all platforms (iOS, Android, Windows and Mac) are available.
Our crypto trading platform list wouldn’t be full without LocalBitcoins P2P trading platform. On this unique cryptocurrency exchange, users carry out transactions without the mediation of the site administration. Until recently, verification was mandatory only for sellers and large traders, but since September 1, 2019, each user should verify their identity.
The main advantages of the website include:
The ability to buy and sell Bitcoin at a favorable rate and with a low fee;
When users use bank cards, transactions take a few minutes to be performed;
The possibility to buy BTC with cash;
A variety of payment methods.
LocalBitcoins operates in many countries with each of them supporting bank transfer in national currency and other popular payment systems in the region. Each user is provided with the address of the Bitcoin deposit for the sale. Note that other cryptocurrencies are not supported!
KuCoin is a young and very promising cryptocurrency exchange that started working on September 15, 2017. The developers team plans to make KuCoin enter the list of top 5 cryptocurrency trading platforms, as well as surpass the success and popularity of the Binance exchange. Sounds too ambitious, but is possible.
KuCoin has a lot of benefits:
A large number of trading pairs (over 300 directions of exchange available);
Lack of mandatory verification and the possibility to trade anonymously;
Low withdrawal fees or their complete absence (for example, for neo);
A large number of professional technical tools for analysis and charting strategies;
High level of safety and security;
Competent and responsive technical support that quickly solves users’ problems.
KuCoin exchange is available in ten different languages,
Established: 2015 Trading fees: from 0.03% to 0.15% 24-h trading volume: $834 186 396
Okex cryptocurrency exchange is a Hong-Kong based multi-exchange crypto trading platform that was launched on June 15, 2015. The project is in high demand among the audience from China, as well as other Asian users. The service is being developed by skilled specialists from China, Japan and South Korea. At the moment, the exchange supports 3 languages including English and Chinese. Over 500 pairs are available for trading, and the total volume of transactions on which reaches 160,000 BTC per day. It is worth noting that the Okex exchange is not just a trading platform, but also a wallet for storing tokens. Professional traders can also work with the built-in API called Algo trading.
One of the oldest cryptocurrency trading platforms, HitBTC has been operating since 2013. It boasts intuitive design, fast engine, multi-currency support and the ability to trade both various cryptocurrencies and tokens. The British cryptocurrency exchange attracts users with its low fees (0.1%) and the optimal number of currency pairs (focus on major markets).
Quick registration and easy navigation on the website;
Advanced interface with effective tools for analytics and analysis;
Demo mode: the exchange allows you to try to trade in real market conditions without investing money;
High security of user accounts.
To replenish and withdraw funds in currency, the user needs to go through verification. But even without this procedure, you can use the HitBTC service.
Established: 2014 Trading fees: from 0.10% to 0.20% 24-h trading volume: $61 168 348
A few years ago, Poloniex was the largest cryptocurrency exchange in the world. It allows users to buy or sell all the popular crypto pairs. Today, the exchange is used by more than 45,000 users. It continues providing top-notch customer support and the whole gamut of tools and instruments for traders.
Poloniex is praised for:
Huge trading turnover (about $58 mln per day);
System reliability and the highest level of security;
A large number of trading pairs (more than 100 pairs available);
Convenient tools for trading and analysis;
Low commissions (from 0 to 0.25%).
Despite the large number of clients, online chat and user-friendly customer support help solving problems without serious delays. However, there are a few minor flaws. First, trading platform for crypto supports only the English language. Secondly, due to the huge popularity on this website, there are hackers using phishing to steal wallet data. Be careful, especially when reading emails, do not click on dubious links.
EXMO is available for users from all over the world and is especially important for the Russian-speaking crypto community. It provides multiple options for depositing money, supporting such popular payment systems as Qiwi, Skrill, Perfect Money, OKPAY, Payeer, Payza, and Yandex Money.
Crypto deposits can be made in Bitcoin, Dogecoin, Litecoin, Dash, and Ethereum. Residents of some countries can use their mobile account to replenish the account. For some operations, identity verification may be required. The total transaction fee is 0.2%, while deposit and withdrawal fees vary according to the payment method selected.
Kraken has also been one of the top ten cryptocurrency trading platforms by trading volume. This is a fairly popular online platform that has many positive reviews from traders from different countries. Despite the fact that the domain was registered in 2000, the company started operating only on July 28, 2011. The platform is founded by a company from San Francisco.
The commission for traders is 0.2%, and it decreases with the increasing trading volume. In terms of daily trading volume, Kraken is in second place. The platform supports only a few languages including English and Japanese. When compared to Poloniex cryptocurrency exchange, Kraken is inferior only in terms of the number of available crypto pairs.
There’s a large choice of crypto tradibg platforms, and picking one can be quite challenging. Hopefully, our crypto trading platform reviews will help you make the right decision. Pay attention to the fees, reputation, security measures, and you will enjoy a flawless trading process while your crypto assets stay safe & sound.