Top Cryptocurrency Exchanges Compared: Head-to-Head Review
Here at the Coin Bureau, we spend a lot of time diving into the best cryptocurrency exchanges to help our readers find which trading platforms are best for their needs as crypto traders and investors.
One of the articles that our community has come to appreciate is our ongoing Top Crypto Exchanges article, where we select the exchange that we think is the best in different categories. Because exchanges aren’t created equal, and many have their own strengths and weaknesses, we have also decided to bring you this Top Cryptocurrency Exchanges Compared article, where we pit some of the most popular exchanges against one another in a head-to-head comparison to dial down deeper into how they stack up against one another.
While of course, the concept of “the best crypto exchange” is highly subjective and many users will have their own personal preferences, this article is simply our opinion based on our experiences with some of the top global crypto exchanges that we have personally used and researched ourselves. I hope you enjoy and find this article useful in your quest to find the perfect crypto platform for you.
Introduction to Cryptocurrency Exchanges
First things first, what is a cryptocurrency exchange? To put it simply, it is a platform where users can buy, sell and trade cryptocurrencies. These exchanges act as intermediaries that facilitate transactions between buyers and sellers. Many crypto exchanges offer a whole host more than just a place to trade crypto, features such as launchpads, NFT marketplaces, Earn sections, borrowing and lending, and more can be found on many leading exchanges.
There are two main types of cryptocurrency exchanges: centralized and decentralized. The major centralized exchanges are the likes of Coinbase, Binance, Kraken, OKX etc., while the main decentralized exchanges aka DEXes, are the likes of Uniswap, PancakeSwap, Trader Joe, etc.
Centralized exchanges typically require users to create an account and provide personal information in order to use the platform, while DeFi exchanges operate on a peer-to-peer network, allowing users to trade crypto without the need for a central authority and most often without KYC or the need to open an account. This article will be looking at centralized exchanges only. If you want to explore non-custodial crypto exchanges, you can check out the following article:
Importance of choosing a reliable exchange
When choosing a crypto exchange, there are a few things to consider. First, make sure that the exchange is reputable and has a good track record when it comes to security, and keep a mindful eye on the reputation of the exchange among crypto veterans.
Finding a dependable and reputable exchange, like the ones mentioned in this article, can help mitigate risks against factors like hack exploits, scams, money laundering, insolvency risks, exchange downtime, and poor trading performance. While there is no way to guarantee 100% protection against hacks, the exchanges in this article place a strong emphasis on security, have robust security protocols in place, and many have insurance funds in place to reimburse customers in the event of a successful hack or security breach.
Other Factors to Consider When Choosing a Cryptocurrency Exchange
Other important factors are things like fees, fiat currency support, and crypto asset support; if the best exchange in the world doesn’t support your favourite cryptocurrencies, then it isn’t much use to you. Let’s look at each of these factors in a little more detail.
Reputation and Security: Look for an exchange that has a good reputation and a track record of being secure. Research the exchange’s history, reviews, and security measures. Find an exchange that uses things like 2FA, anti-phishing codes, address whitelisting, and others. The more user-side security features, the better.
Trading fees- This one is obvious, if you are someone who enjoys saving as many Satoshis as possible, then you will want to opt for a low-fee exchange like Binance, KuCoin or OKX over an exchange like Coinbase.
Supported cryptocurrencies- Most crypto exchanges will have a “markets” or “supported assets” page where you can find a list of their tradeable products and cryptocurrencies. If you are a futures trader, there is no point in signing up for an exchange that doesn’t offer futures trading. The same goes for things like margin trading, order types, etc.
User interface- If you are going to be spending a lot of time trading, you are going to want to find an exchange that jives with your style and preferences. While many exchanges are quite similar, there are some nuanced differences like the ability to customize the trading interface, and if you are a fan of Tradingview, you will likely want to find one with Tradingview integration.
Customer Support- This one is especially important for new crypto traders. When live money is on the line, it is important to be able to get fast access to a customer support rep in case 💩 hits the fan.
Payment methods: Check if the exchange supports your preferred payment method, such as bank transfer, bank card, Apple Pay, Google Pay, or PayPal.
Regulatory compliance: Choose an exchange that is compliant with regulations in your country. This can help ensure that your funds are safe and that you are trading legally.
Liquidity: Choose an exchange with high liquidity. This means that there are many buyers and sellers on the exchange, making it easier to buy and sell cryptocurrencies at the desired price.
Additional Features- Many exchanges offer much more than just trading. Exchanges like Binance and KuCoin have a comprehensive Earn platform where users can stake and earn passive income on their crypto, while US-based exchanges like Kraken and Coinbase lack in this area due to regulatory restrictions. Consider what additional features like Earn products, Launchpads, NFT Launchpads and trading competitions are important to you before signing up for an exchange.
In-depth Comparison of the Top Cryptocurrency Exchanges
Most Secure Crypto Exchange
There are a few criteria we can use to select the exchange that is the most secure. Looking at factors such as:
Which exchanges have the most security features
Which exchanges have the most robust security protocols in place
Which exchanges have never been hacked
Which exchanges have published Proof-of-Reserves
Which exchanges have insurance funds or keep a reserve fund in place to reimburse customers in the event of a hack.
Two exchanges that we find reputable that check most of the above boxes are SwissBorg and Kraken. Neither SwissBorg nor Kraken have ever been hacked, which is rare in the industry, and made all the more impressive by the fact that Kraken has been around since 2011.
Kraken also has a branch of their business solely focused on security called Kraken Security Labs, where they deploy their expertise to help other web3 companies enhance their security. And it isn’t just us here at the Coin Bureau that are impressed with Kraken’s security, Certified, an independent crypto exchange security auditing company places Kraken as the #2 most secure exchange in the world behind Crypto.com.
Note that SwissBorg is not listed on the above site, possibly as it is more geared towards crypto investing and portfolio management, with crypto trading being secondary. I won’t go into the security details of Kraken and SwissBorg as you can find that information in our dedicated SwissBorg Review and Kraken Review.
Out of these two exchanges, Kraken will be the preferable exchange for US-based users as SwissBorg is not available in the States, and experienced crypto traders will also likely prefer Kraken due to the advanced charting capabilities. SwissBorg is better suited for crypto investors than crypto traders, as SwissBorg is home to some of the most innovative cryptocurrency investment products in the industry.
SwissBorg vs Bybit
SwissBorg and Bybit are two popular platforms for cryptocurrency traders, each with a user base of millions. These two platforms are quite different in their offerings, with SwissBorg having the cleaner and easier-to-use interface, along with better investment products from long-term crypto investors.
Bybit on the other hand, will be the preferred exchange for active crypto traders as it has a more robust trading interface, more tradeable assets, and hosts multiple trading contests. We go deeper into how these two match up in our dedicated article:
KuCoin vs SwissBorg
At the risk of sounding like a broken record, SwissBorg again, takes the win over KuCoin when it comes to investable products. Thanks to its multiple DeFi integrations and Thematics bundles, SwissBorg is in a class of its own when it comes to crypto portfolio management. SwissBorg is also considerably more user-friendly than KuCoin and has never experienced a hack.
KuCoin is, by a considerable margin, a better-suited exchange for active crypto traders and anyone looking for a launchpad. KuCoin has one of the best selections of cryptocurrencies, tradable instruments and Earn products. You can learn more about how these two compare in our following review:
Kraken vs OKX
Kraken and OKX is an interesting comparison as they are two of our favourite platforms for their strengths in completely different areas.
As mentioned, Kraken is very popular for crypto traders who seek security above all else, and it is perfect for beginners. Where Kraken’s weakness lies is in the fact it has poor asset support when compared to most off-shore exchanges, and due to strict US regulation, Kraken is not able to offer as many Earn products as many of its peers.
OKX beats out Kraken when it comes to better asset support, more tradeable instruments, and OKX features an investor launchpad for new projects. OKX is also one of the leaders in Web3 innovation and has one of the best self-custodial crypto wallets and is definitely the winner when it comes to visual aesthetics and beautiful design.
You can dive further into how these two compare in our following comparison:
It is also worth giving a quick shout-out to Crypto.com as Certified has found them to be the most secure of crypto exchange platforms in the world. While I may not personally place them as #1, their approach to security is still quite impressive, making it a pretty solid “all-in-one” platform that users can rest easy using. Both Guy and I are Crypto.com users, and you can learn more about their offerings in our Crypto.com review.
Best Cryptocurrency Exchange for Beginners
Some exchanges are better suited towards advanced users, while others offer a no-frills approach to crypto trading and investing, featuring a friendly and non-overwhelming platform for users looking for simple-to-use crypto exchanges that are perfect for those new to the industry.
After using dozens of crypto exchanges, I have found Coinbase, Kraken, SwissBorg, and OkCoin to be the easiest to use with the cleanest interfaces, featuring landing pages that are clutter-free. When I am recommending an exchange for someone new to crypto, or not overly tech-savvy, I find myself suggesting Kraken and SwissBorg most frequently.
OKX vs Coinbase
When it comes to having a good reputation and playing friendly with regulators, no crypto exchange comes with the same “goody two-shoe” status as Coinbase. The sterling reputation of the exchange has helped propel them to become the largest US-based exchange in the industry.
Coinbase serves both institutional and retail clients and even offers custody services for many US-based firms. The exchange is well known for its beginner-friendly approach, providing a simple and seamless platform for trading cryptocurrencies.
The largest criticisms against Coinbase most often come in the form of their higher-than-average fees, poor customer support, and lack of tradeable crypto assets and features such as margin trading, derivatives, and staking.
OKX on the other hand has many of the features that Coinbase lacks, making it the more suitable exchange for advanced crypto traders and those looking for more crypto-centric products. The major downside of OKX is that there is no fiat-offramp support, meaning users are not able to sell crypto for cash, then withdraw to a bank account.
You can see more about how these two compare in the following deep dive:
Binance vs Coinbase
This is an interesting comparison as these are the two largest and most well-known exchanges in the world, and are very different.
As mentioned, Coinbase is like the golden-haired child in the crypto exchange family, while Binance is more of the “black sheep.” That isn’t to say that Binance is bad, quite the opposite, but Binance has a history of trailblazing without asking permission first, then dealing with the fallout later.
We have seen this multiple times in Binance’s turbulent history as they have been under investigation by multiple global authorities, have refused to have a solid headquarters for years, and seem to constantly be in the headlines for being banned from one area or another.
So, crypto traders who seek safety and reputation will undoubtedly choose Coinbase over Binance, but despite its renegade reputation, Binance is the far superior exchange for anyone who needs access to more crypto assets and products. And it isn’t just me that feels Binance is superior, taking a look at trading volume, Binance consistently has multitudes higher trading volume than Coinbase and millions of more users around the world.
Binance is the largest exchange in the world by a significant margin for a good reason. They offer a massive selection of cryptocurrencies and have pretty much every crypto product anyone could want or need, plus fiat on and offramp support for dozens of currencies. Binance is a great exchange if you can stomach the risk of using a platform that has a target on its back from multiple global authorities. You can learn more about how Binance and Coinbase compare head-to-head in the following article.
Best for Cryptocurrency Support
Using an exchange that supports your favourite digital assets is important, which is why one of the largest boasting rights in the industry belongs to the exchange that supports the most assets.
This is one area where exchanges vary drastically, especially when comparing US exchanges to offshore exchanges, as US regulations make it difficult for platforms like Coinbase and Kraken to match their international counterparts.
When it comes to the “big kahunas” for most altcoins, KuCoin and Gate.io take the win, both supporting over 750 digital assets. These two exchanges are the most commonly used for those rare altcoin gem hunters who like to trade or purchase obscure cryptocurrencies. KuCoin also has a knack for being the first major exchange to list new assets, meaning KuCoin users are often among the first to get their hands on new project tokens.
The biggest drawback for these two exchanges is the lack of fiat offramp, meaning that many traders will still use an exchange like Binance, Kraken, or SwissBorg as a crypto-to-bank gateway, but have an account at KuCoin or Gate.io to pick up gems that cannot be found elsewhere.
KuCoin vs OKX
It was very difficult to pick a winner out of these two as they are two high-performance exchanges, each bringing some quality products to the industry. At first glance, KuCoin has a larger user base, better trading volume, better asset support, and one of the most multi-functional NFT marketplaces available.
OKX, on the other hand, has significantly more robust security protocols in place, a nicer interface and a self-custodial web wallet that KuCoin does not match.
When it comes to things like a launchpad, derivatives trading, margin trading, trading fees, and Earn products, these two are neck in neck. We dive deeper into the fierce competition between these two as they battle for similar market share in this article:
KuCoin vs Bitget
Bitget is a solid consideration for anyone who is looking for a feature-filled exchange that comes with regulation and licensing. One issue that any traders face is that they are stuck choosing between an unregulated exchange that offers a smorgasbord of features and assets, or a barebones exchange that is safe and regulated. Unfortunately, regulation comes with a lot of red tape, restricting what products an exchange can offer.
Bitget is one of the top exchanges that manages to offer a decent earn section, futures trading, margin trading, and an impressive selection of 500+ cryptocurrencies, while also holding an MSB license in both the US, Canada, and is also licensed in Australia. Though they hold these licenses, unfortunately, Bitget is not available to users located in the US or Canada.
This regulatory framework leads to Bitget being the better choice out of these two for those seeking regulatory compliance, and it also features a fantastic copy trading hub. Though KuCoin still has an edge when it comes to greater asset support, a superior selection of tradeable instruments, an NFT marketplace, and a better-stocked launchpad.
Read more about how these two stack up in the following article:
KuCoin vs Binance
KuCoin vs Binance is one of the most searched comparisons online as these two platforms are absolute beasts when it comes to asset offering and product support. Most exchanges do not come close to offering the sheer number crypto-centric products as these two, so naturally, people are looking for which one is better suited for them.
KuCoin takes a win over Binance when it comes to altcoin support, and KuCoin is also the preferred exchange for traders who enjoy trading contests and “Vegas-style” trading games and promotions with features like lotteries, Brawl, and other fun crypto games.
The key strengths Binance has over KuCoin comes in the form of licensing framework and the fact that Binance offers a crypto to bank account gateway, supporting fiat withdrawals, which KuCoin does not. Binance also has a better launchpad, more Earn features, and better customer support.
These two exchanges have more similarities than differences and they are both operating at the highest level in the industry, they are two of the biggest exchanges for good reason. Though we find that KuCoin is the better exchange for altcoins and trading bots, we prefer Binance for the key reason that being able to withdraw cash and lock in trading profits is a nice feature, but you can dive deeper into these two in the following article:
Exchanges with the Lowest Fees
Every penny you save on fees can go towards stacking more sats, so low fees, for many, are an important consideration. Coming in just after security and features in terms of importance, low trading fees are my third most important factor.
Fees can be a difficult area to compare and analyze as there are three different types of fees to be aware of:
Maker and taker fees
Deposit and withdrawal fees
Trading Discounts and promotions
Tier level discounts
Some exchanges may have low trading fees but high withdrawal fees, or fee-free deposits, but charge a high percentage for maker and taker fees, so we need to look at the fee puzzle from a few different vantage points. Fortunately for you, the Coin Bureau has done much of the groundwork for you, and Guy has even managed to sweet-talk many of the leading crypto exchanges into providing our readers with some of the best fee discounts in the industry. (More on that later)
When it comes to trading fees themselves, my favourite exchanges with rock-bottom fees are:
The trading fees for most of these exchanges are dependent on trading volume, but the average fees encountered at any of these exchanges is less than 0.2%, making them reasonable for frequent trading. The differences in trading fees between the aforementioned exchanges are negligible for the average retail trader, with fees varying by fractions of a percentage. As the industry is highly competitive, many exchanges strive to be low-cost leaders in the space.
In 2022, Binance waged an all-out war on the competition and offered $0 trading fees for many Bitcoin and Ethereum pairs, forcing the competition to follow suit. The harsh crypto winter and low crypto activity have led to many exchanges needing to halt their fee-free trading promotions, but some can still be found, so be sure to check out the exchange sites to see if they offer fee-free trading for any of your favourite pairs.
Binance Offers Some of the Lowest and Zero-Fee Trading Options Around. Image via Binance
While the fees for trading may not vary much, where things take a turn is when it comes to deposits and withdrawal fees. This is the area where Binance becomes the leader in low-fee exchanges for the widest range of users.
This is simply due to the fact that Binance is one of the few exchanges that natively supports fiat wire transfers and deposits, though Bitget was excited to recently announce that they too, now support fiat deposits and withdrawals natively.
What I mean by natively is that many exchanges such as KuCoin and OKX need to facilitate crypto purchases and deposits through third-party payment processors, many of which can charge 3-5% per purchase or deposit… Ouch
Nearly every major crypto exchange will support some form of fee-free deposit depending on the currency selected and the method used, but Binance and Bitget are able to directly accept fiat wire transfers and SEPA deposits, supporting the most methods for fee-free deposits.
Then withdrawals are another story, many crypto exchanges do not support the withdrawal of fiat to a bank account, leaving Binance and Bitget with an edge over much of the competition.
Bitget vs Bybit
Taking a look at trading fees, Bybit has slightly lower fees, here is what we are looking at:
Bybit spot trading lowest fees are = 0%/0.02% Highest= 0.1%/0.1%
Bitget uses a flat fee of 0.1% for maker and taker fees on spot trading.
Both Bybit and Bitget offer the ability to purchase crypto directly with a bank or credit card amount, but beware as these purchases are facilitated by third-party purchase providers, some of which charge 2-8%, so we have to give the edge to Bitget here as they also support fee-free bank deposits for major fiat currencies. If you want to compare cryptocurrency exchanges Bitget and Bybit in other areas, you can find a deeper review in the following article:
OKX vs Bybit
OKX is a licensed cryptocurrency exchange in Seychelles, while Bybit has situated itself in crypto-friendly Dubai. Similar to KuCoin and Binance, OKX is one of the most comprehensive “all-in-one” crypto exchanges, while Bybit is renowned within the industry for being one of the most solid platforms for serious and experienced traders.
The trading products don’t vary much between these two, they both support over 300 cryptocurrencies, offer margin, spot, derivatives, KYC-free trading, and have high-performance trading and matching engines. Taking a look at fees, here is what traders on OKX can expect:
Image via OKX
Here is the fee structure for Bybit:
Both platforms operate a maker/taker fee model with tiers based on 30-day trading volume. OKX comes in as the slightly cheaper crypto exchange, though neither exchange will break the bank.
Neither exchanges charge a fee for crypto deposits, and crypto withdrawals have no fees outside the standard network fees that are common across the industry. When it comes to buying crypto, both platforms offer the option to purchase crypto via bank card or third-party processor, while Bybit also supports bank transfers. Deposit fees vary greatly depending on payment processor and currency selected, but in general, Bybit takes the win here as they offer more fee-free deposit options. You can see how else these two compare in our article:
Binance vs KuCoin
As mentioned, Binance dominated the competition when they offered zero-fee trading on multiple BTC pairs. They have recently halted that promotion and now only offer free trading on TUSD-BTC.
Outside of the fee-free pairs, here are the lowest and highest fees on Binance:
Lowest fees: 0.02%/0.04%
Highest fees: 0.1%
Here is what traders can expect on KuCoin
Lowest Fees: 0.02%/0.04%
Highest Fees: 0.08%
As you can see, for traders who fall under the lowest tier level who do the least amount of trading will benefit more from KuCoin as they will find fees of 0.08% vs the 0.1% on Binance. These crypto exchanges are mostly on-par for the mid-tiers and the fractions of a percent likely won’t be enough to be a key factor for most retail traders.
Aside from trading fees, Binance takes the win as they offer multiple fee-free deposit options and also supports fiat withdrawals. KuCoin relies on third-party payment processors, most of whom charge fees, and does not offer fiat withdrawals. Many KuCoin traders will fund and withdraw in crypto to avoid deposit fees. See more about how these two titans match up in our article:
Best User Interface and User Experience
This category is understandably, quite subjective and much of it will come down to personal preference. I will list the exchanges that I feel provide the best user interface and experience and provide my justifications as to why.
Important factors for me are things like having access to multiple features and a non-cluttered, friendly interface. One of my pet peeves is needing to sign into multiple different platforms for different functions, I like being able to do everything in one place.
That is one of the reasons Crypto.com is one of my daily crypto platforms. The app is beautifully designed, fiat withdrawals and deposits are supported, there are multiple zero-fee deposit options, and you can even spend with the Crypto.com crypto debit card. For me, using Crypto.com is the closest I’ve come to not needing to use a bank as I was able to have my pay deposited to my Crypto.com account back when my salary was paid in crypto. It made my life easy, that is for sure.
If we zero in on mobile apps, Crypto.com provides a great platform for multiple crypto-centric use cases and functions. Another personal favourite mobile app is the SwissBorg app, as it is so clean, beginner friendly, and is one of the easiest crypto apps I’ve ever used. In my SwissBorg Review, I talk about how having SwissBorg is like having access to a financial advisor and portfolio manager for crypto, all in one convenient place.
Switching our focus to web-based platforms, while platforms like Binance and KuCoin are feature-packed, I would certainly not consider them beginner-friendly, or even very user-friendly. Being more suited towards experienced traders, offering advanced trading tools and every crypto product under the sun, that sort of functionality comes with a platform that can often feel overwhelming and cluttered, and after being a Binance user myself for years, I must admit that I still get lost trying to find certain sections and functions of the site.
The web-based exchange experience that has been most enjoyable for me are sites like OKX, Bitget, Kraken and Bitstamp. I feel that OKX and Bitstamp do the best job balancing features, functionality, and a user-friendly UX/UI, making the site easier to navigate than the likes of Binance or KuCoin, and there is no denying that OKX is, in my opinion, the most eye-popping exchange in the industry. Kudos to whoever their site designer was as it’s just pure eye candy.
Kraken and Bitstamp, while not as flashy or multi-functional as Bitget or OKX, are just so easy to use to navigate. Of all the crypto exchanges I’ve used, I feel like I could nearly use these two with my eyes closed. Sometimes simplicity is best.
You can find the following comparison articles to see how OKX and Bitget compare if you are looking for an exchange that provides a seamless user experience:
And if you are someone who follows the KISS (keep it simple, stupid) mantra, then you may find the following review articles helpful:
Best Exchanges for NFTs
With the rising popularity of NFTs, it was no surprise to find that quite a few exchanges now feature an NFT marketplace. Though, as with trading platforms, not all NFT marketplaces are created equal. If you are a fan of NFTs on the Binance Chain, then the Binance NFT marketplace will be the one for you. Crypto.com is also venturing into the NFT space in an interesting way, offering sporting NFTs and NFTs on the Cronos chain. Bybit also has a well-stocked marketplace and OKX features some of the most beautiful NFTs I’ve seen in the space.
But there is one exchange that takes NFT functionality to the next level, and that is KuCoin. While other exchanges followed the route of offering an NFT marketplace, KuCoin offers something quite unique and hits the NFT niche from multiple angles.
KuCoin’s standard NFT marketplace is called Windvane, and this is a place where users can buy, sell, mint, and swap NFTs. Windvane also supports NFT airdrops, commissions, and whitelist access to new NFT projects.
Then there is KuCoin’s NFT launchpad called Wonderland, which acts in a similar manner to token launchpads, but for NFT projects. The third way that KuCoin is changing the game in NFT innovation is through its NFT fractionalisation platform. Here users can own a fractional share of blue chip NFT projects like Crypto Punks and Bored Apes.
With all this, KuCoin has become a leader and pioneer in the NFT space. You can compare KuCoin to other popular exchanges in our following comparison reviews:
Best Incentives and Rewards Programs
Let’s be honest, there is nothing better than free stuff and huge discounts. With the crypto exchange industry becoming increasingly competitive, many exchanges are coming up with increasingly innovative and enticing offers to attract new users to their platforms, and there are some real doozies out there. I know a lot of crypto users who actually sign up for multiple exchanges just to take advantage of their sign-up offers.
Bybit has one of the most lucrative sign-up bonus programs I’ve come across, with 30k up for grabs for anyone who deposits 250k+ and trades $150m. Of course, that isn’t exactly attainable for the average trader, but they even have a $100 bonus for anyone who deposits 3k and trades $6k worth of crypto. Here is a look at the deposit rewards on Bybit:
Over the past couple of years that I’ve been reviewing Bybit, I’ve seen other offers such as $50 if you deposit within 48hrs of signup, $15-$1,000 bonus for depositing BTC, and up to $4,100 for accomplishing various tasks as new users.
Phemex is another platform looking to give away some dough, with $6050 up for grabs for users who complete certain tasks:
Then of course, some of these deals can be made even sweeter with some of the lifetime discounts of up to 60% off trading fees and bonuses of up to $600 available on the Coin Bureau Deals Page. Feel free to take advantage of a few of these offers, which also helps support the work we do here.
Additional Features of Cryptocurrency Exchanges
Ignoring all the fluff, my two favourite platforms for margin trading, purely due to the high levels of margin available, high-performance trading engine, advanced trading tools and Tradingview charting integration are Binance and Bybit. You can learn more about these two in our Binance vs Bybit Review.
Staking and lending
If passive income on your crypto stash is your main focus, the two platforms that offer the most Staking and Earn products are Binance and KuCoin. I highly recommend checking out our Binance vs KuCoin article as these two platforms are very similar, but there are some major key differences to be aware of. As for Lending, OKX has a fantastic lending platform that we cover in detail in our dedicated OKX Lending article.
For serious traders who eat, sleep and breathe crypto trading, it is pretty tough to beat Bybit. Taking a look at the top 5 exchanges for Futures trading volume, we have:
The reason Bybit takes my top choice for futures trading is mainly because of the community and trading environment. You don’t make it into the top 5 exchange positions by offering a subpar product, so the matching and trading engines for all 5 of these exchanges run flawlessly, with nearly zero downtime, lightning-fast trade executions and low slippage.
I’ve never experienced myself, nor heard much in the way of complaints about the performance of any of the top exchanges and each of these exchanges have incredibly low fees, so the choice for the top comes down to more arbitrary aspects such as the community, the interface, and trading experience. For me, Bybit has a healthy, supportive community of serious and professional traders, the trading interface is customizable, and Tradingview is integrated directly into the Bybit exchange.
We’ve pitted Bybit against some of the top exchanges to compare and contrast the various functions, products, and benefits each exchange brings to the table:
Best Crypto Exchanges: Conclusion
There you have it, our picks for some of the top exchanges in the industry. While this article is in no way an exhaustive list as there are hundreds of exchanges out there, this article only features the exchanges that we find are the most reputable and trustworthy in the industry. I hope you found this article helpful in doing your own research and provided you with a jumping-off point to dive into these exchanges further to make sure you don’t waste time going through the KYC and sign-up process for an exchange that doesn’t meet your needs as a crypto trader.
If you would like to learn more about crypto trading, check out the Coin Bureau Trading Channel where our trading expert Dan teaches the craft of technical analysis to help turn you into an effective trader in no time!
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.
Frequently Asked Questions
A cryptocurrency exchange is an online platform that enables people to buy, sell, and trade cryptocurrencies like Bitcoin and Ethereum. These exchanges act as intermediaries between buyers and sellers, providing a safe and reliable environment for transactions. Fees are charged for services like transactions, deposits, and withdrawals. Exchanges also offer advanced trading features like margin and futures trading.
Considering factors mentioned such as trading fees, security, regulation, features, and cryptocurrency selection, along with going through reviews will give you a good idea of which is the best exchange for your needs.
When choosing a cryptocurrency exchange, it’s important to prioritize security features. Look for exchanges that have two-factor authentication, address whitelisting, store the majority of funds in cold storage, have published proof of reserves, and undergo regular security audits. Additionally, check if the exchange is regulated and has a good reputation in the community.
Using a cryptocurrency exchange can come with several risks. These include hacking attacks, scams, and the volatility of the market itself. Exchanges may also lack regulation or security measures, leaving users vulnerable to fraud or theft. It’s important to research and choose a reputable exchange with strong security features and to always exercise caution when trading.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.