10 Best Cryptocurrency Exchanges

Planning to sell your cryptocurrencies? With prices skyrocketing recently, cryptocurrency exchanges have become popular among crypto enthusiasts.

But, before dipping your hands into the crypto business, it’s important to identify the safest crypto exchanges to ensure safe transactions and better returns.

1. What Is a Cryptocurrency Exchange?

To put it simply, cryptocurrency exchanges are the platforms or businesses that facilitate trading in cryptocurrencies. Such platforms allow you to exchange digital currencies for physical assets, fiat money, other digital assets like NFTs, or cryptocurrencies themselves.

They function like your regular stock market or stock and commodity exchange. But the transactions happen primarily using cryptocurrencies.

The crypto exchanges are generally either centralized or decentralized. The centralized crypto exchanges are controlled by a single entity, and custody of user funds remains with the crypto exchange. 

On the other hand, the decentralized exchanges are distributed systems and allow transactions without any intermediary. Now hybrid options are also available.

If you are planning to buy or sell cryptocurrencies or exchange them for other assets, here is a list of the top 10 cryptocurrency exchanges.

2. Which Are The Best Cryptocurrency Exchanges?

Here is a list of the top 10 cryptocurrency exchanges to help you choose the most suitable one for you.

1. Coinbase

With more than 100 million users, Coinbase is one of the largest crypto exchanges in the world. It is based in the United States. 

It is a licensed crypto exchange that is currently operating in more than 100+ countries. With greater options and accessibility, Coinbase is considered one of the Best cryptocurrency exchanges globally.

Why is Coinbase a Good Choice?

• It’s a beginner-friendly and safe crypto exchange. 
• Coinbase provides a reasonable fee structure and a wide range of cryptocurrencies. In fact, it provides 200+ options.
• Additionally, it has many educational resources, especially for beginners.
•  It is available on both desktop and mobile.

Cons

• It’s more suitable for beginners compared to experienced traders.
• Coinbase does not allow margin or option trading. 

Check the Coinbase exchange for the latest updates regarding fees and trading options. 

2. Binance

In terms of trading volume, Binance is one of the largest crypto exchanges in the world. Founded in 2017, Binance has more than 500 crypto assets.

It is a go-to option for many experienced traders. The fee is comparatively lower; for the latest updates regarding the fee structure, check the official site.

Why is Binance a Good Choice?

• Binance offers a wide range of tradable crypto assets. 
• Additionally, it provides educational resources.
• With a remarkable global presence, the Binace offers higher user friendliness. 
• It allows advanced trading and a lower fee structure.

Cons

• Binance was embroiled in controversies throughout its establishment.
•  It has faced a multitude of legal challenges and is thus banned in many countries. 

Read More: Binance Review: The Biggest Cryptocurrency Exchange For Altcoins

3. Kraken

Based in the United States, Kraken was founded as early as 2011. The major attraction of Kraken is the lower fees.

Kraken also hosts valuable educational resources. 

Why is Kraken a Good Choice?

• Kraken offers better service with lower fees and is accessible across desktop and mobile. 
• Popular among both beginners and experienced crypto traders.
• The research and educational resources are another plus. 
• The Kraken also facilitates trading in a wide variety of crypto assets.

Cons

• The Kraken is not available in all states of the United States.
•  It faced some legal challenges and controversies.

4. KuCoin

KuCoin is another global cryptocurrency exchange popular among the crypto community. Founded back in 2017, the KuCoin crypto exchange offers trading in more than 700 crypto assets.

It offers staking options, trading on margin, and futures.

Why is KuCoin a good choice?

• KuCoin provides its services at remarkably lower fees. 
• KuCoin provides competitive security features.

Cons

• KuCoin is not available in the United States. 
• Only certain limited services are available to US citizens.
• It’s more suitable for experienced traders. 
• The beginners may find it a little complicated.

5. Gemini

Gemini is another popular exchange in the crypto circle. It’s an American crypto exchange founded in early 2014.

The Gemini is highly regarded in the crypto community for its advanced security features. The crypto exchange also has third-party audits and provides crypto insurance. Another plus is access to advanced charting features and tools.

Due to advanced features and global spot trading opportunities, Gemini is popular among experienced crypto traders. 

Why is Gemini a good choice?

• The most attractive feature of Gemini is its security structure. 
• It’s a comparatively safer option with insurance. Gemini has an FDIC insurance feature as well.
• It’s available across the United States. 
• The Gemini has shown higher commitment to compliance over the years.
• Access to NFTs is another bonus point.

Cons

• Despite its highly regarded security features and compliance commitments, the fee structure is a bit complicated.
• The fees are higher, and the limited choices of cryptocurrencies are another major drawback. 
• The staking options are also limited.

6. Bitget

Founded in 2018, Bitget crypto exchange is a decentralized crypto exchange that offers trading in a wide range of cryptocurrencies. It has a wider reach with more than 100 countries and millions of users.

Bitget boasts advanced security features and offers numerous trading options like margin and futures. Bitget allows copy trading and has more than 800 cryptocurrencies.

Why is Bitget a Good Choice?

• Bitget offers a large number of cryptocurrencies and trading options. 
• The platform allows copy trading, futures, spot, and margin trading.
• Bitget also has a collection of fiat currencies and has a global reach and accessibility with users spanning across 100-plus countries.
• Bitget has comparatively higher security features and lower fees.

Cons

• The accessibility is limited in certain countries. 

7. Crypto.com 

The Singapore-based Crypto.com is especially popular among crypto enthusiasts who prefer trading through mobile.

Crypto.com has more than 100 million users worldwide. 

Why is Crypto.com a Good Choice?

• Crypto.com offers more than 400 digital assets.
• It’s regulated under FCA. 
• The platform also has fraud prevention tools.
• It’s considered one of the best crypto trading platforms for Bitcoin.

Cons

• The accessibility is limited in many countries
•  Plus, the platform only provides chat assistance. 

8. Bybit

This Dubai-based cryptocurrency exchange has millions of users across the globe. Bybit is one of the most sought-after crypto exchanges today, due to its lower fee structures and superior customer support.

Why is Bybit a Good Choice?

• Bybit has lower fees and offers advanced trading features. 
• It has a user-friendly mobile app and good customer support.

Cons

• It’s more suitable for experienced traders.

9. OKX

OKX offers a wide range of trading options and cryptocurrencies. Established as early as 2013, it was rebranded as OKX in 2017.

Why is OKX a Good Choice?

• The OKX is user-friendly and is accessible through desktop and mobile.

Cons

• Payment options are limited. Plus, it’s not that beginner-friendly.

10. Bitstamp

Founded back in 2011, Bitstamp provides its service both to individuals and institutions.

Why is Bitstamp a Good Choice?

• 24/7 customer support
• You can open an account with 0 dollars.

Cons

• Limited digital assets
• Not accessible from some juris

How to Choose a Good Cryptocurrency Exchange?

Here are some major factors you should consider to pick the right crypto exchange for you.

1. Location

Check the location of the crypto exchange before investing. If you go for exchanges in your own country, you can avoid the foreign exchange-based expenses and formalities.

Certain platforms may be banned in fixed geographical locations; make sure that the crypto exchange you pick can provide a smooth service in your country.

2. Payment Method

Payment Method is another crucial factor. Check the payment methods available on the platform. 

Go through the list of fiat currencies and assets that are allowed to be exchanged. 

3. Cryptocurrency Type

While searching for the Best crypto exchanges list one important factor to evaluate carefully is the type of cryptocurrencies available. Some crypto exchanges offer more than 100s types of cryptocurrencies. On the other hand, the rest of them may be offering fewer options.

Also, certain platforms will be better suited to a particular type, like Bitcoin for Crypto.com.

4. Research and Do a Deep Dive

Numerous crypto exchanges have faced legal challenges and regulatory issues. Do a deep dive into the history of the crypto exchanges and check how committed they are to legal compliance, and go through the security features.

Check the trading and insurance options. Verify the customer support options and accessibility across the platforms, like web, desktop, and mobile.

Also Read: Top 5 Biggest Crypto Scams In History

Final Thoughts

With the prices reaching record highs, many crypto enthusiasts are drawn to buying and selling cryptocurrencies. 

There are many popular and highly regarded cryptocurrency exchanges facilitating smooth trading in digital assets. In this article, we provided a list 10 best cryptocurrency exchanges considering various factors, including but not limited to the type of cryptocurrencies, accessibility, and user friendliness.

If you are a beginner in the crypto market, check the educational resources provided by the platforms. Make sure the platform is beginner-friendly and gives better customer support. 

Another key factor to consider is the location of the crypto exchange, payment methods, types of digital assets, trading features, and security.

Do enough research on each platform before investing your precious assets.