10 Best Cryptocurrency Exchanges for Trading Cryptocurrency
Binance is the world’s leading cryptocurrency exchange that concluded its ICO on 21st July 2017 and raised $ 15 Million. In addition to being a blazing fast exchange, The platform is designed for traders of all levels, i.e., from a beginner trader to an advanced trader.
The platform offers an inbuilt wallet which is ideal for storing Bitcoin for a short time. In addition, Binance has an Earn feature to deposit your crypto assets such as Bitcoin or USDT and earn interest on your holdings.
Since its ICO to date, it has grown tremendously. It has become the leading cryptocurrency exchange globally in trading volume and availability of pairs of a token. It now has over 370+ altcoins listed on it, which are further provided in over 1300 pairs. Additionally, coin listing is increasing with every passing month.
Binance being a centralized exchange has taken a unique take to expand its business and provides a decent discount for day traders if they use BNB coins. BNB is the native currency of this platform, saving money on buying/selling any coin.
Read Binance review
FTX is a relatively new exchange that was established in May 2019 by FTX Trading Ltd. The exchange is growing at a rapid pace because of its very interactive user interface and many unique offerings in the derivatives market. The company is incorporated in Antigua and Barbuda, the Caribbean, and its offices are based out of Hong Kong.
The USP of the exchange is its team which has relevant and dynamic experience in the crypto and traditional trading sector. FTX team comes from some leading Wall Street quant funds and tech companies: Jane Street, Optiver, Susquehanna, Facebook, and Google. The team has ample exposure to the traditional secondary market. Members have backgrounds in equity derivatives trading and seem to have an understanding of how derivatives are traditionally designed, and what kind of derivatives are in demand. FTX’s motto is “by the traders, for the traders”.
In August 2019, the Exchange raised USD 8 Million to invest into the operations of the exchange.
The exchange has almost all the services provided by other leading exchanges such as spot trading, futures trading, ETF trading, margin trading, and staking. However, it also has some unique products such as leveraged tokens, tokenized equity stocks, prediction markets, OTC transactions, etc.
- There is a future contract named Trump2024 in which you can bet on whether Mr. Donald Trump will become president of the USA in 2024
- You can purchase a token form of many traditional equity stocks such as Tesla, Amazon, Apple, Nokia, and many more
- There are futures contracts named Shitcoin Index Perpetual Futures and Altcoin Index Perpetual Future
The platform comes with extensive benefits such as:
- User-friendly interface
- Interactive mobile application (for android and iOS users)
- Substantial community and social media presence
- The exchange has a 3 Tier Liquidity Protocol and an FTX Insurance Fund, which provides immense liquidity to the users
- Low Exchange Fees
- Domain expertise of the management
- Like Binance, FTX Exchange has an in-house governance token called FTT which can be also be staked for staking rewards
With a substantial number of features and benefits, FTX is a wholesome exchange that provides almost every traditional (spot, futures, staking, 2FA, etc.) and many new services (tokenized stocks, leveraged tokens, prediction market, etc.) to its users.
Further, with the growth potential of the exchange, there is a substantial potential upside to the exchange’s native token FTT.
3. Huobi Global
Huobi is an international cryptocurrency exchange that originated in China but now has moved across the world to serve a maximum number of investors. It is based out of Singapore and has been operating in this space successfully for the last five years.
As we speak, it occupies the #2 spot on CoinMarketCap’s list of exchanges by volume and has 973 cryptocurrency pairs. Hence, you will never face liquidity problems on this exchange.
They also have a mobile app for Android and iOS for users who want to trade cryptos on the go.
Their registration process is also pretty simple, so go ahead and do the needful. Oh, and just so you know, the exchange fee is also pretty low. Have fun.
Changelly is one of the easiest ways to get ahold of various cryptocurrencies.
Changelly has a proven track record of consistently good products being put out into the crypto-space.
One of the best things about Changelly is that you don’t need to go through any lengthy verification or registration process. It is a non-custodial exchange.
Currently, Changelly supports around 199 cryptocurrencies along with fiat pairs such as USD/EUR. It is one of the best and easiest to use crypto exchanges out there.
When you use Changelly to exchange cryptocurrency, the matching engine connects in real-time to some of the best and busiest cryptocurrency exchanges in the market to get you the best price.
Usually, when using Changelly, a crypto-to-crypto exchange takes 2 to 20 minutes.
The amount you see is the amount you get, so you don’t have to worry about any hidden fees or charges.
All you need to buy from Changelly is a VISA/MasterCard (credit/debit card) and a wallet where you want to receive your new coins.
The procedure is very simple.
Head toward Changelly, and follow the on-screen instruction to exchange your coins.
Coinbase is a U.S.-based crypto exchange that serves a global audience. The exchange offers excellent speed and reliability and is beginner-friendly.
Using Coinbase, you can quickly buy cryptocurrencies and trade at the same time. They have an app for iOS and Android, which gives you the comfort of exchanging cryptocurrencies from anywhere. The wire transfer feature is also available on Coinbase.
The security standard of Coinbase is enterprise-grade, and they have been around for many years. Coinbase is supported in almost all the continents (Africa, Asia, Australia, Europe, North America, South America)
The exchange has listed 72 cryptocurrencies which are offered in 232 different trading pairs. Coinbase also supports popular stable coins such as DAI, USDC which is an important aspect of any popular cryptocurrency exchange.
Read Coinbase review
KuCoin is another easy and hassle-free cryptocurrency exchange. KuCoin offers many popular and unique coins such as CHR, $KCS, and many others. Just like Binance, they offer a fully functional mobile app for Android and iOS.
To get started with KuCoin, you can deposit any crypto of your choice, ex: BTC, and start trading. I have been using KuCoin for the past two years, and they have constantly been adding extra features.
You can use Kraken to deposit and withdraw fund to any bank accounts globally. In my experience of using Kraken, bank transfers are quick, and support is excellent.
Overall, Kraken is one secure and trustable exchange that you should check out.
Read Kucoin review
CEX.io was established in London, the United Kingdom in 2013. Originally the organization was a cloud mining service provider which handled a number of cloud mining pools. From 2015, the organisation dropped the mining service business and focussed completely on the exchange services.
In 2017, the exchange was audited by a third-party audit firm which confirms its compliance company’s diligent approach towards crime prevention. In 2019, the company set up its offices in nine US states and has been expanding since then.
The exchange has 80 different crypto tokens which are offered as 201 different trading pairs.
Features of CEX.io are as follows:
- Spot Trading and Margin Trading
- Derivatives Trading (in form of Contracts for Difference (CFD))
- Fiat to crypto transaction for 4 cryptocurrencies (USD, EUR, GBP, RUB)
- Options to earn passive income through staking and savings
- Crypto backed loans
In addition to this The exchange also offers a Demo Account for paper trading. The basic trading fee is 0.25% for a taker and 0.16% for a maker.
The platform is secure and easy to use. Along with an interactive web application, it offers a mobile application for Android and iOS users.
Bybit is a specialized spot and crypto derivatives market exchange. Established in March 2018, Bybit is one of the fastest growing cryptocurrency exchanges, with more than 3 million registered users.
Further, the exchange offers a margin on the above derivatives upto 100x. In case you are looking for an exchange for spot and derivatives trading, then Bybit is the best bet.
The platform is adding quality and trending coins every other day, and it might become the fastest growing crypto exchange of 2022. It is one of the best crypto exchanges which is secure and easy to use. It has an interactive web application and has a mobile application for Android and iOS users.
For beginners, Bybit also has a feature of paper trading.
Read Bybit Review
Hoo.com, a cryptocurrency wallet, was established by Hufu Technologies in Hong Kong in 2017. In June 2019, the company acquired two Chinese exchanges and integrated them with Hoo.com. Thus, Hoo Exchange became a complete digital asset trading platform.
The exchange provides all the basic features such as spot and margin trading, futures and options trading, etc. In addition to this, Hoo has an OTC (over-the-counter) platform which can be used for bulk trades. The exchange offers around 400 tokens (507 pairs of token).
The trading fee on HOO is 0.2% of the transaction value. People who have high trading volumes can get a discount on this trading fee.
The benefits of trading on Hoo Exchange are as follows:
- The exchange provides many low market cap gems
- A number of options to earn passive income are available on the platform
- The platform has an interactive mobile app that allows you to trade on the go
- The founding team has good experience in the crypto markets
10. MEXC Global
MEXC Global (formerly known as MXC) was established in 2018 in Seychelles, East Africa. The exchange has listed 518 coins which are offered as 887 different pairs.
You can use MEXC Global for spot, margin, and derivatives trading. In addition to this MEXC Global provides several features such as ETF (Exchange Traded Funds) Trading, staking, DeFi Farming, etc.
The trading fee on MEXC Global is 0.2% of the transaction value. This fee can be discounted by holding the in-house token of MEXC Exchange i.e. MX Token.
The benefits of using MEXC Global Exchange are as follows:
- The platform has a very user-friendly interface
- The platform has an interactive mobile app that allows you to trade on the go
- You can earn passive income through staking and depositing assets in DeFi products