What Are The Best Cryptocurrency Exchanges? Safe and Tested
The crypto space has experienced exponential growth over the past year, growing from $361 billion to $2.1 trillion. This has resulted in crypto becoming a mainstream investment strategy, which has resulted in an increasing number of exchanges. With the marketplace becoming increasingly saturated with exchanges, it can be difficult to choose which one to use.
Services like CoinMarketCap estimate that more than 410 exchanges exist at this time. With no two exchanges being the same, it is important to take a close look at any exchange before using it, ensuring it offers the features you need, and it is secure.
In this article, we will take a look at ten of the most interesting exchanges. We will be letting you know what each of them bring to the table and what makes them stand out in the crowd.
Keep in mind that while in this article we will be mentioning some of the best exchanges, there are many more options out there. This means that this guide, although comprehensive, is not definitive. Make sure to check our section on exchanges to find other exchanges that might suit your specific needs.
That being said, this selection of exchanges has enough variety to ensure you find a proper exchange for your needs. No matter if the exchange excels on the features it offers or the quality of its customer support, we got you covered.
Knowing this you’ll be able to make an informed decision not only on which exchange to use… But also on how to take advantage of the benefits they offer, taking your crypto investing to the next level!
We are starting with what is probably the most popular and biggest exchange in the crypto space: Binance. If you are already considering using Binance and are looking for a more detailed review, click here. On the other hand, if you don’t know what Binance is, let us give you a brief overview.
Binance is one of the leading exchanges out there with one of the highest trading volumes. Having reached a record-setting $80 billion of daily trading volume in January, the exchange has benefited greatly from the crypto craze. This high trading volume ensures you won’t have difficulties completing any trade you are looking to fulfill.
Binance also offers very low transaction fees of only 0.1% per trade. On top of that, they offer a 25% discount when using their BNB coin to pay fees, making them even lower! This means Binance users pay less in fees when compared to their direct competitors.
A common mistake crypto traders make is underestimating fees due to a difference of 1% or so… However, these add up and as such, you should keep an eye on these “small” differences.
If you are looking to trade more eccentric altcoins instead of sticking to the biggest names, Binance also has you covered. The platform has one of the largest amounts of trading pairs in the exchange business, supporting well over 1200 pairs and 330 coins.
For experienced traders, you may also want to take a look at their great advanced charting options. The platform provides many advanced options to take full advantage of your cryptocurrencies. These include staking with Binance Earn, Margin Trading, Pool Mining, and even an NFT marketplace.
Lastly, Binance is also a very safe exchange and has great options for depositing and withdrawing Fiat, including “’peer to peer” (P2P) options. This allows many traders to further improve their earnings by operating as a broker.
Binance’s great altcoin variety and their advanced trading options make Binance one of the go-to platforms for any crypto investor. With many considering it the best cryptocurrency exchange out there.
No matter if you are a beginner or a veteran, Binance is likely to have what you are looking for. If you are looking for an exchange that does it all, make sure to check our full review!
Moving to a smaller, although still pretty popular, exchange, we can find PrimeXBT. This platform is an excellent exchange for advanced and beginner traders alike, which we’ve also covered in this full review.
PrimeXBT does not offer the variety of options provided by other exchanges such as Binance. However, it does cover all the bases that most traders are most likely to use. We believe that shedding the mostly unused features of other exchanges was a wise decision. This allows the platform to focus on providing a better experience and quality on the features it offers.
This decision resulted in great advanced technical analysis tools, great margin trading options with up to 1000x leverage, and covesting. Sure, these aren’t the plethora of options that platforms like Binance provides…
But PrimeXBT does support them with very low cryptocurrency trade fees of only 0.05% on trading accounts. This is more than enough of a reason to be interested if you’re a seasoned or beginner trader.
There is a simple reason we recommend this exchange for beginners too: Covesting. This feature allows users to shadow the strategies of other users or share theirs. This is a great way for beginners to learn about crypto trading while making a profit… As long as they chose correctly on who to follow.
Where PrimeXBT does excel above all else is their award-winning customer support. With a 24/7 live chat, you can be sure that you will be able to get a quick response to any issues you may be seeing. This not only improves the experience but also ensures you don’t miss out on that time-sensitive trade that you were eyeing.
PrimeXBT lacks a bit in the variety of cryptocurrencies as only the 11 most popular coins are currently offered. While this might not be acceptable to many, these 11 currencies might be enough for a lot of traders. This is because these 11 coins are some of the biggest in the crypto market.
Overall PrimeXBT is a great exchange for most users, and it will fit their needs as long as they don’t need access to the most obscure coins.
If you can compromise in this way to get great customer support and a straightforward platform, PrimeXBT might be the right fit for you. You can check out our full and in-depth rundown of PrimeXBT here!
Next on the list is Coinbase; another big hitter exchange that we have already covered in the following Coinbase review. This exchange has always been one of the more stable in the crypto space with one of the most secure platforms out there.
To achieve this, the exchange ensures 98% of user funds are stored offline. This means that if the site were to be hacked, most of the funds will be safe from malicious actors.
Coinbase does not support as many pairs as Binance, which is a recurrent theme for most exchanges. However, it has a solid amount of choices and will have you covered for most of the options you would be looking for. Coinbase is one of the most popular exchanges, resulting in great liquidity and trading volume
There are also great features for power users looking to get more from an exchange. These features include ‘Coinbase Pro’, a platform with features such as advanced charting tools and indicators. The platform is specially designed to fulfill the needs of advanced traders. This, in combination with being fully regulated, make the exchange great for professional traders.
If you run a business and want to integrate crypto, this exchange is a great option to consider. Coinbase can set you up with ‘Coinbase Prime’, a prime broker for digital assets. This service includes custody, an advanced trading platform, and primer services. If you have a business that is looking to accept payments with crypto, they also have you covered with ‘Coinbase Commerce’
The exchange supports a variety of options for developers to integrate Coinbase into their applications as well as develop third-party solutions. If you have programming knowledge, it is also a great way to gain even more flexibility!
Unfortunately, the fees for trading with Coinbase are a bit higher than its competitors if you are not using Coinbase Pro. These trading fees can also be a bit confusing, but they will typically be around 0.5%. However, you should keep in mind they vary depending on how much you trade and whether you are providing or taking liquidity from the pool.
That being said, the platform does provide a very easy-to-use and intuitive platform If you are a beginner, this allows you to set up in no time to dip your feet into the crypto space.
Coinbase also offers a great referral program, where users can earn $10 for every qualified referral made. To apply as a qualified referral, the referred party must simply buy or sell $100 in crypto and that is including any fees. This is another way for you to increment your earnings, which is always nice.
The trustworthiness and popularity of Coinbase mean that it’s an ever-present and great option for any crypto trader or business. If you still have questions about the platform, don’t forget to head over to our full review!
So far, we have talked about crypto exchanges that are good for beginners and veterans alike. On the other side of the spectrum, we have Coinmama. This exchange is known as one of the most user-friendly exchanges out there, making it perfect for beginners.
Coinmama’s simplicity is what has set it apart since its founding, allowing it to shine in a space known for its complexity.
That being said, Coinmama isn’t the traditional exchange you would be used to nowadays. Other platforms provide services such as a crypto wallet, mobile app, staking, and other complicated features… Coinmama doesn’t. The exchange focuses exclusively on the buying and selling of crypto, which they do extremely well.
With native support for the most important fiat currencies, Coinmama allows most users to buy and sell crypto without needing to worry about any exchange rates. The variety of payment methods is also amazing, as they cover some of the most popular.
Not only was Coinmama among the first platforms to offer credit/debit card payment options… But they also offer Apple Pay and Google Pay, as well as Fedwire, SEPA, and SWIFT as bank account payment options.
As to what coins you can buy, you have the option of buying many of the big hitters in the crypto markets. That being said, your options will be limited if you’re going to sell your crypto. In such a case, you will have to do so through Bitcoin as that is currently the only option available.
Coinmama also provides top-of-the-line customer service. They have a great help center that leaves little questions to be asked. If you do still have questions though, their staff is among the best in the crypto space. It is incredible how they make everything seem seamless by responding to most tickets in less than 24 hours.
So while other platforms provide a larger range of options regarding what you can do with your crypto, Coinmama does one thing exceptionally well. If you are looking to simply buy crypto and are looking for ease of use, Coinmama is the one for you. You can find our full review on the platform here for more information.
Bitpanda is another staple in the crypto space. This is an exchange that focuses on ease of use and accessibility, resulting in a beginner-friendly platform. They achieve this by offering a more focused product while complementing it with great customer support.
Don’t let the words we use deceive you… focused does not necessarily mean lacking! Not only does Bitpanda support the most popular coins, but it also offers very useful features for all traders. The exchange makes sure you can have a diverse portfolio to work with, as well as a way to make use of it. Bitpanda offers a crypto debit card, savings account, OTC trading, and more!
One thing that the base version of Bitpanda does not have is a market. To make use of that you’re going to have to look at their Bitpanda Pro option. When using this service, you will have access to a traditional crypto market and other advanced features.
You will also need to take note of the fee structure of Bitpanda, which is a mix of pros and cons. Users are charged a 1.49% premium for buying and selling crypto, higher than some competitors.
These are directly included in the coin price, making it a seamless and user-friendly process… with the drawback of these fees feeling a little opaque at times. But hey, at least you won’t be guessing how much you will be charged!
Another aspect in which Bitpanda excels is in customer support and help center articles. They have some of the best resources for any user that is looking to get into the crypto space. This means that anyone diving into crypto will be able to get their information in one place without having to dive into google.
All in all, Bitpanda is one of the most user-friendly exchanges to be found. It excels in ease of use, simplicity, attention to detail, and customer needs.
All of these factors make it a great option for beginner users who are not necessarily going to make use of the more advanced options of other platforms. Make sure to check out our full review of the platform here!
Next on the list, let’s take a look at BlockFi. This is an exchange that can be perfect for those wanting to earn passively with their coins. This has made it one of the most popular exchanges for long-term holders!
While this platform does not necessarily provide the large variety of cryptocurrencies available to other platforms, it compensates for it. BlockFi provides users with a strong base with their BlockFi Interest Account (BIA). This account allows users to earn interest on their Cryptocurrency balance.
With the interest rates offered by the platform being amongst the highest in the business, it is easy to see why it is so popular. These interest rates can go up to an Annual Percentage Yield (APY) of up to 8% across different coins.
Let’s now talk about one of the platform’s most popular products: its Crypto-Backed Loans. They offer loans borrowed against your crypto balance with interest rates as low as 4.5%. This allows you to expand your portfolio and invest in options that would usually not be available to you.
Like other platforms in this list, BlockFi does provide a trading account. This is a bit limited compared to other platforms due to the smaller coin availability offered. However, they add the benefit of you being able to continue earning interest on the coins that you are trading.
If that doesn’t convince you, BlockFi also has a great referral program. Both the referring party and the referred party receive a $10 signing bonus…provided that the referred party maintains a $100 balance for at least 30 days.
Now where BlockFi does lack a bit is in the Customer Support department, as it is a bit on the slower side. This is not surprising when it comes to popular platforms, though. However, several reviews mention issues not being resolved while others suggest an excellent service, which makes it a hit or miss.
BlockFi could be a great option for users looking to generate passive gains in the long term. If you’re just looking to sit on your Crypto and have it accrue interest for you, BlokFi could be a perfect match. If you are planning on doing day trading, not so much.
Bitfinex is a top-tier destination for seasoned traders out there. That said, the platform has suffered its fair share of difficulties with multiple hacking incidents and other allegations. One of these controversial incidents included when the platform was hacked in 2016 with theft of nearly 120,000 BTC. Unfortunately, this has made the exchange noteworthy for many… but for not the right reasons.
That being said, the platform has always made it a priority to reimburse users after such incidents and has been able to prove that. This has allowed the exchange to continue being one of the most popular alternatives out there.
Bitfinex offers a platform for the power-user, looking to trade large sums of cryptocurrencies. These advanced features come with a bit more of a confusing interface which will have newer investors scratching their heads. As such, we don’t recommend Bitfinex if you are a beginner.
If you are an experienced trader, their high amount of liquidity and their broad range of advanced trading features might be especially attractive. These include margin trading funding, leverage, and various order types. When you pair these with a reasonable 0.2% to 0.0% trading fees, it is not hard to see what makes Bitfinex so popular among veterans.
Lastly, if you are a user living in the United States, Bitfinex is simply not an option for you. The platform does not provide access to users from the land of the free. That being said, Bitfinex is a great go-to option for those advanced non-US traders out there who know how to take full advantage of the variety of options it offers.
For those traders who are not able to access Bitfinex, BitMart may be another option you might want to consider. It has over 180 supported countries and an ever-growing customer base worldwide, including the US.
BitMart is on the more beginner-friendly spectrum of exchanges with an intuitive user interface. It also provides an intuitive mobile platform which increases its convenience factor. Combine this with great trading tools for those accustomed to looking at technical indicators…and you got yourself a recipe for success.
With over 90+ crypto pairings to buy and sell, the variety that you would be looking for would be mostly covered. Not only that but the exchange supports leveraged futures trading as well for you to be able to make even greater profits with up to 100x leverage.
BitMart doesn’t shy away from providing a variety of options as to what can be done with your cryptocurrency. Among these are staking and BitMart Lending, which offers up to an annualized interest rate of 40% on some coins. This is an interest rate significantly higher than other platforms, which makes BitMart extremely attractive.
Another aspect that makes BitMart stand out from the crowd is its great training and educational material. This includes a Demo Trading option where users can get their feet wet without necessarily risking funds. This is a game-changer for traders looking to improve their game before feeling comfortable to invest their money.
All these benefits come at the cost of a bit higher trading fees than the cheaper options out there. With a 0.25% trading fee that reduces with volume, it is far from the cheapest platform around. That being said, these fees can be decreased by 25% if you’re using the platform’s native ‘BMX’ token.
BitMart is a great trading platform for newer traders and veterans alike. If you are a beginner, you can find yourself making use of the full spectrum of options provided once you gain more experience. That said, their high fees may be something that can push those experienced users away.
If you’re looking for a stable and reliable exchange, Bittrex may be the right choice for you. The platform is one of the more secure and well-oiled exchanges out there.
With an emphasis on the security of the platform, Bittrex retains a glowing record of never having suffered a breach or losing any user funds. While this might not sound like much, it is quite an achievement in the crypto world…especially as crypto grows in popularity.
The platform is based primarily on the attractiveness of its trading platform, which provides the standard technical charting tools that any trader may use.
In addition to this, the exchange also provides automated trading options such as ‘stop-loss’ and ‘good until canceled’ (GTC) orders. These order types provide traders with added flexibility when it comes to developing and implementing their trading strategies.
Unfortunately, one thing that the platform does lack though is the option for margin trading. While this is not necessarily a big deal for many, it is still a feature experienced traders might miss.
The founders of the platform are all former Microsoft employees and that is visible with their seamless interface- This means no visible lags or issues that complicate the trading experience. This seamless experience does come with a bit higher trading fees than some of the cheaper competitors though.
With a flat fee of 0.25%, there are no volume reductions to this fee, which is something you should consider and keep in mind.
Lastly, let’s talk about an area where Bittrex doesn’t shine at all: Customer Support. With some users having their accounts suspended and their cases having lacking responses from their support team, it has gained a bad reputation.
This bad support is something that many users will need to account for when making decisions on what platforms to use. To be fair, reviews for crypto platforms tend to be highly unfavorable in most cases.
All in all, Bittrex is an excellent exchange to start with, despite its long customer support waiting times. The exchange provides a stable and secure platform to start trading multiple coins. You will also want to consider the drawbacks of higher fees and the possibility of inconveniences when dealing with support. For this reason, we recommend looking elsewhere if customer support is important for you.
If you’ve seen the Alec Baldwin commercials, you’ve probably heard of eToro before. This is one of the biggest trading platforms out there, not only in the world of crypto. The company’s advertising cast is also justified with them having over 7 million worldwide users and a great user experience.
This platform provides a place to trade cryptocurrencies, commodities, stocks, and indexes. This variety allows users to have many different portfolio options in one single place and does not limit them to only the crypto space. If you are investing in more than crypto, this might be a great plus for you.
One of the best features offered by eToro is its Copy Traders service, especially when combined with its huge community. This feature allows you to follow the trades made by other users and shadow them, making the platform much more social in nature. This is also a great way to understand and learn about the market if you are a beginner!
Not only that but the platform also provides a Crypto Portfolio service that users can invest in. This service is a ready-made portfolio based on the most important currencies in the crypto space. Although the Portfolio has a minimum investment amount of $5000, it lets you invest in the most important coins on the market simultaneously.
The best part, these portfolios are managed by eToro’s experts.
One aspect eToro does fall flat on is their transaction fees and payment structure, which are among the higher end of the crypto space.
These fees range between 0.75% and even 2.9% depending on the coin. On top of that, you could be charged a standard withdrawal fee and an inactivity fee should you not check up on your portfolio in a while.
All this is a bit disheartening and can be a joy kill for many prospective eToro users. However, crypto traders are known for checking on their portfolios excessively… So this is a risk that can be easily managed.
eToro is a great platform and a social investment network.
As a whole, it is a good place for users who want to have all their trading needs, be it cryptocurrencies, commodities, and stocks in the same place. If you are however a hardcore crypto-investor, it may not be a good fit and you may be better served elsewhere. This is especially true if you want crypto-specific features like staking, borrowing, etc.
When you’re looking for trading platforms and exchanges, you are not limited by the lack of choice but the excess of it. We’ve looked into some of the most important platforms out there and as you can see, they all bring different things to the table.
If you’re looking for cheaper trading fees while retaining the diversity in trading pairs, you may lean towards options like Binance.
On the other hand, if you are looking to just buy a cryptocurrency without necessarily making active trades, the focused view of Coinmama may be the one for you. There is no perfect cryptocurrency exchange out there…so deciding which is the best cryptocurrency exchange depends entirely on your needs.
You can always find the platform that best suits your needs and trading experience. Whether you’re a new trader using BitMart’s learning and Demo Trading materials or have years of trading and make use of all the options that BitFinex provides. You can even combine platforms to fulfill different needs, which might be the smartest choice for many.
As we said before, remember that this is not a definitive guide on the best cryptocurrency exchange but a collection of some of the best cryptocurrency exchanges. This is meant to provide traders of all levels and walks of life to find a suitable alternative for their needs.
There are other great services that, while they might not qualify as the “best”, excel in different areas. You can check all of our reviews on crypto exchanges in our specialized and ever-expanding section. In any case, we hope that this provides you with a greater insight into ten of the best cryptocurrency exchanges out there!
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