Cryptocurrency Exchanges

Cryptocurrency Exchanges
Cryptocurrency Exchanges

Cryptocurrency exchanges are platforms with specialized software designed for trading cryptocurrencies. There are centralized and decentralized exchanges, but the first are more popular. Some platforms offer advanced trading tools, such as margin trading or landing (leasing cryptocurrencies). 

As the cryptocurrency market develops, every year more and more exchanges appear on which you can trade cryptocurrencies. This tool allows you to make simple and quick transactions for exchanging one cryptocurrency for another or for fiat money. 

In this article, we have prepared material on the 10 best cryptocurrency exchanges. Let's talk about their pros and cons, verification and commissions.

How to Choose a Cryptocurrency Exchange

Choosing a cryptocurrency exchange
Choosing a cryptocurrency exchange

The choice of a cryptocurrency exchange exchange should be approached carefully. Each of the sites has its pros and cons, and in some cases certain nuances for residents of some countries.

First of all, choosing a cryptocurrency exchange, you should pay attention to a number of parameters, the main of which are:

Watch a video in which tips from an expert are described in detail by what criteria it is worth choosing a cryptocurrency exchange:

Top 5 crypto exchanges

Cryptocurrency Security

Cryptocurrency Exchange Security
Cryptocurrency Exchange Security

Since the trader trusts the platform of the tool, the security criterion is a priority when choosing a cryptocurrency exchange. Security is measured not only by the number of hacks or reviews, but also by the indicators described below. 

Exchange Verification

Verification is an identity verification process during which the exchange requests documents from a new member, who can attest to the data specified in the profile: 

To do this, you will need photo / scans of your passport, driver’s license, utility bills or bank statements. 

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Also, many sites require a selfie with documents or a sheet on which the current date is indicated.

For traders, verification is a formality restricting operations on the cryptocurrency exchange, but knowledge of the platform of his client is necessary for its legal and safe work. 

Exchange Without Verification 

Verification on the cryptocurrency exchange
Verification on the cryptocurrency exchange

On most cryptocurrency exchanges, verification is required, for the reason indicated above, but there are sites that have refused mandatory verification for one reason or another.  These are:

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To gain access to full functionality, even on these sites, verification is needed, but with small volumes of transactions, you can do without it. 

And remember — verification = security, so if you trade without an identity, then at least do not do this on little-known sites.

Two-factor Identification

Two-factor authentication on cryptocurrency exchanges
Two-factor authentication on cryptocurrency exchanges

Two-factor identification is a confirmation of a transaction / login using an additional tool (phone, mail, google ID). 

It consists in the fact that during authorization, in addition to the login and password, the cryptocurrency exchange also requests an additional code, which will be sent to you by email or SMS. The same measure can be used to confirm the input / output of funds or transactions. 

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2FA is a guarantee that even if attackers can get your account information (for example, when hacking the exchange), they will not be able to log in and withdraw money.

All top exchanges offer 2FA (some even 3FA). 

Rating of World Cryptocurrency Exchanges

The best cryptocurrency exchanges in the world
The best cryptocurrency exchanges in the world

The best cryptocurrency exchanges in the world market you will find below. You can also get a rating of cryptocurrency exchanges by trading volumes, including adjusted ones, on the CoinMarketCap service. Independent research institutes form their own ratings of exchanges according to the following criteria: 

Finding these ratings online is easy, here are just a few of them: Bitwise Report, CryptoCompare Report. To create your own rating, use data from several sources since their research may be based on differing tools and assessment criteria. 

Binance Exchange

Binance Exchange
Binance Exchange

One of the youngest exchanges, created in 2017. Despite this, in a short time it gained wildly popularity among traders. Today it supports more than 250 trading pairs. 

Binance exchange has a small commission and discounts. That is, if you set the fee collection in the exchange token – Binance Coin (BNB), then instead of 0.1% it will be 0.075%. Binance also offers two interface modes that differ in cryptocurrency analysis tools. 

Binance cryptocurrency exchange interface
Binance cryptocurrency exchange interface

Binance cryptocurrency exchange interface

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Official site of cryptocurrency exchange Binance

Now registration is open, and the daily volume in BTC is 145 698 ($ 1 018 382 384). 

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It is impossible to work with fiat assets without verification, but without it, withdrawal up to 2 BTC per day is available.

Pros:

A large number of cryptocurrency pairs;
The highest trading volume and lowest commissions;
User friendly interface;
High level of security;
The exchange is constantly evolving and provides more and more opportunities.

Bittrex

Bittrex exchange trading window
Bittrex exchange trading window
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The official website of the Bittrex cryptocurrency exchange

Pros:

Deposit and withdrawal without commission;
Never hacked;
Support for 300 trading pairs.

Corns:

Full verification for depositing and withdrawing funds.

Poloniex 

Cryptocurrency exchange trading window Poloniex
Cryptocurrency exchange trading window Poloniex
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Poloniex official website

Pros:

There is a leverage of x2.5;
With small transaction volumes, verification is not required;
Support for more than 100 cryptocurrencies.

Corns:

Complaints about support and speed of withdrawal of funds;
In 2014, it was hacked;
Does not work with fiat.

Coinbase

Coinbase cryptocurrency exchange trading window
Coinbase cryptocurrency exchange trading window
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Official website of the Coinbase cryptocurrency exchange

Pros:

The highest trading volumes;
Simple registration;
Comprehensive service with many products.

Corns:

Commission for entering fiat.

Huobi

Huobi Exchange
Huobi Exchange

This cryptocurrency exchange was launched back in 2013. In 2017, after the ban on cryptocurrencies and ICOs in China, Huobi Global was forced to move its headquarters to South Korea and take a break for a year. Trading resumed only in the spring of 2018.

Huobi Trading Interface
Huobi Trading Interface
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Huobi official website

Huobi Exchange also supports over 400 cryptocurrencies. The main difference is the lack of the ability to trade in fiat. 

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At the same time, there is margin trading, commission for opening transactions is 0.2%, and holders of the exchange token – HT receive a 50% discount.

Verification on Huobi Global is needed, in fact, only for professional traders, who want to output more than 100 BTC per day. For ordinary users, it is optional.

Pros:

High level of security – funds are stored in cold wallets with multi-signature;
Low fees;
A large number of cryptocurrencies;
Margin trading.

Corns:

There are few ways to replenish a wallet;
Incomplete localization;
Sophisticated verification process.

BitFinex Exchange

Launched in 2012, the BitFinex cryptocurrency exchange has come a long and thorny path. There were hacks and locks, but the platform continues to live and provide quality service for traders. 

One of the distinctive advantages of the Bitfinex exchange is the interface, which each user can configure individually. Despite the hacks, this cryptocurrency exchange remains one of the most reliable and secure. There is the possibility of margin trading. 

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Verification is required here, without it you can’t trade. You can’t even replenish an account without providing documents.

Note that this platform is more likely for professionals than for beginners.

The daily trading volume is 11 019 BTC or $ 77 019 090.

Huobi Bitfinex Exchange Interface
Huobi Bitfinex Exchange Interface
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Official Bitfinex Exchange Website

Pros:

High level of security;
Mobile applications.

Corns:

Mandatory verification;
Big commission when it comes to small amounts.

Bitstamp

Bitstamp cryptocurrency exchange trading window
Bitstamp cryptocurrency exchange trading window
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Official website of the Bitstamp exchange

Pros:

Small commission
Mobile app;
Officially licensed in Europe;
Hardware Wallets Support.

Corns:

In 2015, it was hacked;
Full verification during registration;
A limited number of trading pairs.

OKEx

Bitcoin trading on OKEx
Bitcoin trading on OKEx

Also a young cryptocurrency exchange launched in May 2017. Initially, OKEx is an offshoot from the OKCoin exchange, but with the ability to trade Bitcoin and Litecoin futures. In addition, the platform provides margin trading.

At the moment, this cryptocurrency exchange supports more than 400 cryptocurrencies

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OKEx is notable for rather low fees of 0.03% for opening a deal. The exchange also offers a tariff schedule for traders. The more you trade, the less commission.

The daily trading volume is 89 411 BTC or $ 624 954 429 according to CoinMarketCap. Verification is optional, but to open up great opportunities you will have to provide personal information. 

OKEx Exchange Interface
OKEx Exchange Interface
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Official website of the OKEx exchange

Pros:

High liquidity, low fees and a large number of trading pairs;
Good level of protection;
Trading futures with leverage x20;
Applications for smartphone and PC are available.

Corns:

Users complain about freezes;
Sophisticated interface for a beginner;
Orientation to the Chinese market.

HitBTC

Cryptocurrency exchange HitBTC
Cryptocurrency exchange HitBTC

British cryptocurrency exchange, created in 2015. British cryptocurrency exchange, created in 2015. 

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Verification is mandatory only if you intend to fund your account with fiat.

The exchange offers three account levels - General, Verified and Qualified. Each of them has its own advantages (the initial ones have no advantages). Also, how much cryptocurrency per day can be withdrawn depends on the level.

The daily trading volume is 96 561 BTC or $ 674 933 804.

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For beginners, HitBTC may not seem the most convenient, since the instruments are designed more for knowledgeable traders.

True, the demo version will help you get comfortable with the trading process and not lose money on the platform.

HitBTC Exchange Interface
HitBTC Exchange Interface
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Official website of the HitBTC exchange

Pros:

A huge number of trading pairs;
A large amount of withdrawal without verification;
Trading in pairs with fit;
Demo platform.

Kraken

Kraken cryptocurrency exchange trading window
Kraken cryptocurrency exchange trading window
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Official website of the Kraken cryptocurrency exchange

Pros:

Trading interface of various difficulty levels;
Leverage from x2 to x5 depending on the asset;
Keeping customers funds in cold wallets.

Corns:

Limited number of cryptocurrencies;
Complaints about support and speed of verification.

Bitmex

Bitmex cryptocurrency exchange trading window
Bitmex cryptocurrency exchange trading window
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Official Bitmex Exchange Website

Pros:

Availability of futures for changes in value;
Leveraging;
Low commission.

Сorns:

Does not work with fiat;
Only 12 trading pairs.

CEX.io

CEX.io cryptocurrency exchange trading window
CEX.io cryptocurrency exchange trading window
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The official website of the CEX.io cryptocurrency exchange

Pros:

With fiatless trading, verification is not needed;
Mobile app;
Leverage x2 or x3 depending on the asset.

Corns:

Commissions for deposit and withdrawal of fiat;
Limited number of cryptocurrencies;
Card verification for fiat payments.

Rating of Exchanges for Trading Bitcoin

Cryptocurrency exchanges for trading bitcoin
Cryptocurrency exchanges for trading bitcoin

Since almost all multicurrency platforms support transactions with bitcoin, it will not be possible to see new names in the rating of exchanges for trading bitcoin. In terms of the profitability of the course, Bestchange displays the same:

Cryptocurrency exchange LocalBitcoins
Cryptocurrency exchange LocalBitcoins

However, unlike altcoins, bitcoin also boasts specialized services:

These services are popular in countries where access to official exchanges is expressly prohibited or restricted because transfers are made between individuals without the participation of the platform and the bank has no reason to freeze the transaction, how often does this when withdrawing funds from crypto exchanges. 

Other Cryptocurrency Exchanges  

Liquid Exchange

Liquid cryptocurrency exchange trading window
Liquid cryptocurrency exchange trading window
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The official the Liquid Exchange website

Pros:

Leverage up to x25;
With fiatless trading, verification is not needed;
IEO and referral program;
More than 200 trading pairs.

Corns:

Commission for depositing and withdrawing funds.

Bitforex Exchange

Bitforex cryptocurrency exchange trading window
Bitforex cryptocurrency exchange trading window
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The official website of the Bitforex cryptocurrency exchange.

Pros:

150 coins + own token;
Optional verification;
Referral program.

Corns:

Does not work with fiat;
Limit orders only.

Kucoin

Kucoin cryptocurrency exchange trading window
Kucoin cryptocurrency exchange trading window
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Official Kucoin cryptocurrency exchange website

Pros:

Own cryptocurrency with payment of remuneration;
No verification needed;
Low commission;
Multilingualism;
More than 450 trading pairs.

Corns:

Does not work with fiat.