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The Best Cryptocurrency Exchanges

We reviewed dozens of cryptocurrency exchanges to help you find an exchange that suits your needs. Start comparing the best cryptocurrency exchange platforms at Financer.com now.

  • Buy Bitcoin & Altcoins
  • Find the lowest trading fees
  • A guide to choosing the right cryptocurrency exchange
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Top Cryptocurrency Exchanges 2021

Company Overall Rating Daily Trading Volume Listed Coins Trading Pairs Fiat Support Deposit Method Trading Fees Margin Trading
N/A $270M 19 97 USD Wire, SEPA, Credit Card, Klarna / Sfort,... Show more 0.75%-4.5% Yes
N/A $30B 353 1178 USD, AUD, BRL, CAD, CHF, CZK, DKK, EUR, ... Show more Wire, SEPA, Credit/Debit Card, P2P, Banx... Show more 0.10% Yes
N/A $7B 318 944 USD, AUD, GBP, EUR Wire, SEN 0.20% Yes
N/A $2B 57 171 USD, EUR, GBP ACH, Debit Card, Wire, PayPal 0.50% No
N/A $1.1B 62 284 USD, EUR, CAD, AUD, GBP, CHF, JPY Wire, SEPA, SEN 0.16% - 0.26% Yes
N/A $2.7B 168 204 KRW Wire, Credit Card, Banxa, Simplex 0.15% Yes
N/A $1.2B 297 682 No SEPA, Credit card, Banxa, Simplex,, Appl... Show more 0.10% Yes
N/A $900M 132 302 USD, EUR. GBP Wire, Credit Card 0.1% - 0.2% Yes
N/A $180M 339 691 USD, EUR, GBP, AUD, RMB, THB, IDR, MYR, ... Show more Wire, Credit Card 0.35% No
N/A $600M 18 53 USD, EUR. GBP Wire, SEPA, ACH 0.50% No
N/A $2.7B 626 1200 ONLY CRYPTO Crypto wallet 0.15%-0.2% Yes
N/A $1.37B 54 109 USD Wire, ACH, Debit Card 0.1%-0.5% No
N/A $1.14B 168 169 KRW Wire Transfer 0.20% Yes
N/A $430.5M 183 326 ONLY CRYPTO Crypto wallet, Off-Chain Transfers 0.01%-0.075% Yes
N/A $493.7M 8 10 USD, JPY, EUR ACH 0.01%-0.15% Yes
N/A $472.4M 45 65 USD ACH, Debit Cards, Wire, Digital Asset 1.49% No
N/A $13.8B 259 716 ONLY CRYPTO Crypto wallet 0.08%-0.1% Yes
N/A $557.6M 98 197 USD, JPY, EUR, SGD, AUD, HKD Bank Account Deposit 0%-0.15% Yes
N/A $267.2M 1 2 JPY ACH, Debit Card, Credit Card 0.00%-0.15% Yes
N/A $547.5M 72 145 ONLY CRYPTO Crypto wallet 0.10%-0.16% Yes
N/A $20.3B 169 267 KRW Wire 0.05%-0.25% No
N/A $486.7M 487 884 KRW Wire 0.20% No
N/A $2.4B 159 303 ONLY CRYPTO Crypto wallet 0.075%-0.15% Yes
N/A $2.6B 229 478 USD, EUR, GBP, AUD, HKD, SGD, ZAR, CAD, ... Show more Wire, Credit Card 0.02%-0.07% Yes
N/A $4.06B 489 1042 ONLY CRYPTO Crypto Wallet 0.1%-0.25% Yes
N/A $5.9B 129 173 AUD, GBP, USD, EUR, CAD, HKD, RUB Wire, Credit Card, Debit Card 0.05%-0.20% Yes
N/A $4.3B 10 21 ONLY CRYPTO Crypto wallet -0.025%-0.075% Yes
N/A $1.3B 64 198 USD, EUR Wire, Credit Card 0.20% Yes
N/A $181.1M 63 189 USD, RUB, EUR Wire, SEPA, Crypto Wallet, ACH 0.1%-0.3% Yes
N/A $166M 14 30 USD, EUR, RUB, BYN ACH, Debit Card, Credit Card, SEPA -0.025%-0.075% Yes
N/A $36M 17 23 EUR, GBP, CHF, TRY Credit Card, SEPA, EPS, Skrill, Giropay... Show more 0.06%-0.1% No
N/A - 8 - N/A ACH, Wire 0% - 1% Yes
N/A $1.4B 14 50 USD, AUD, CAD, EUR, GBP, USDC, BRL ACH, Wire, Credit Card, PayPal 0.16%-0.40% Yes
N/A - - 271 - ACH, Wire, Check Deposit, ACAT, Crypto $0.01 per share -
Company Overall Rating Daily Trading Volume Listed Coins Trading Pairs Fiat Support Deposit Method Trading Fees Margin Trading Get Started
N/A $270M 19 97 USD Wire, SEPA, Credit Card, Klarna / Sfort,... Show more 0.75%-4.5% Yes
N/A $30B 353 1178 USD, AUD, BRL, CAD, CHF, CZK, DKK, EUR, ... Show more Wire, SEPA, Credit/Debit Card, P2P, Banx... Show more 0.10% Yes
N/A $7B 318 944 USD, AUD, GBP, EUR Wire, SEN 0.20% Yes
N/A $2B 57 171 USD, EUR, GBP ACH, Debit Card, Wire, PayPal 0.50% No
N/A $1.1B 62 284 USD, EUR, CAD, AUD, GBP, CHF, JPY Wire, SEPA, SEN 0.16% - 0.26% Yes
N/A $2.7B 168 204 KRW Wire, Credit Card, Banxa, Simplex 0.15% Yes
N/A $1.2B 297 682 No SEPA, Credit card, Banxa, Simplex,, Appl... Show more 0.10% Yes
N/A $900M 132 302 USD, EUR. GBP Wire, Credit Card 0.1% - 0.2% Yes
N/A $180M 339 691 USD, EUR, GBP, AUD, RMB, THB, IDR, MYR, ... Show more Wire, Credit Card 0.35% No
N/A $600M 18 53 USD, EUR. GBP Wire, SEPA, ACH 0.50% No
N/A $2.7B 626 1200 ONLY CRYPTO Crypto wallet 0.15%-0.2% Yes
N/A $1.37B 54 109 USD Wire, ACH, Debit Card 0.1%-0.5% No
N/A $1.14B 168 169 KRW Wire Transfer 0.20% Yes
N/A $430.5M 183 326 ONLY CRYPTO Crypto wallet, Off-Chain Transfers 0.01%-0.075% Yes
N/A $493.7M 8 10 USD, JPY, EUR ACH 0.01%-0.15% Yes
N/A $472.4M 45 65 USD ACH, Debit Cards, Wire, Digital Asset 1.49% No
N/A $13.8B 259 716 ONLY CRYPTO Crypto wallet 0.08%-0.1% Yes
N/A $557.6M 98 197 USD, JPY, EUR, SGD, AUD, HKD Bank Account Deposit 0%-0.15% Yes
N/A $267.2M 1 2 JPY ACH, Debit Card, Credit Card 0.00%-0.15% Yes
N/A $547.5M 72 145 ONLY CRYPTO Crypto wallet 0.10%-0.16% Yes
N/A $20.3B 169 267 KRW Wire 0.05%-0.25% No
N/A $486.7M 487 884 KRW Wire 0.20% No
N/A $2.4B 159 303 ONLY CRYPTO Crypto wallet 0.075%-0.15% Yes
N/A $2.6B 229 478 USD, EUR, GBP, AUD, HKD, SGD, ZAR, CAD, ... Show more Wire, Credit Card 0.02%-0.07% Yes
N/A $4.06B 489 1042 ONLY CRYPTO Crypto Wallet 0.1%-0.25% Yes
N/A $5.9B 129 173 AUD, GBP, USD, EUR, CAD, HKD, RUB Wire, Credit Card, Debit Card 0.05%-0.20% Yes
N/A $4.3B 10 21 ONLY CRYPTO Crypto wallet -0.025%-0.075% Yes
N/A $1.3B 64 198 USD, EUR Wire, Credit Card 0.20% Yes
N/A $181.1M 63 189 USD, RUB, EUR Wire, SEPA, Crypto Wallet, ACH 0.1%-0.3% Yes
N/A $166M 14 30 USD, EUR, RUB, BYN ACH, Debit Card, Credit Card, SEPA -0.025%-0.075% Yes
N/A $36M 17 23 EUR, GBP, CHF, TRY Credit Card, SEPA, EPS, Skrill, Giropay... Show more 0.06%-0.1% No
N/A - 8 - N/A ACH, Wire 0% - 1% Yes
N/A $1.4B 14 50 USD, AUD, CAD, EUR, GBP, USDC, BRL ACH, Wire, Credit Card, PayPal 0.16%-0.40% Yes
N/A - - 271 - ACH, Wire, Check Deposit, ACAT, Crypto $0.01 per share -
bitcoin loans

What Is Cryptocurrency?

A cryptocurrency is a virtual or digital currency secured by cryptography. As it is highly secure, it is virtually impossible to double-spend or counterfeit.

Most cryptocurrencies are decentralized networks that are based on powerful blockchain technology. They are not managed by any central authority which renders them virtually immune to manipulation or government interference.

A cryptocurrency exchange is an online platform where users can buy and sell digital currency and other assets. In many ways, they are similar to stock exchanges. 

Blockchain technology ensures the integrity of transactional data and forms the building blocks for most cryptocurrencies. It is essentially a distributed ledger managed by a network of computers.

Chosen 3 times
  • $0 account minimum
  • $0 trading fees
  • Ideal for beginners
  • U.S.-based and regulated

It’s fairly easy to begin trading on cryptocurrency exchanges and it takes less than an hour to get started.

In the guide below, we’ll help you understand how crypto exchanges work, the differences between decentralized and centralized exchanges, and things to consider before starting to trade on cryptocurrency platforms.

How Do Cryptocurrency Exchanges Work?

In general, when users place buys or sell trades the exchange matches them based on supply and demand and an acceptable price point. The exact method used depends on the type of exchange and the specific exchange.

There are two basic types of cryptocurrency exchanges:

  • Centralized Exchange (CEX)
  • Decentralized Exchanges (DEX)

Here’s a quick summary of centralized vs decentralized exchanges:

Centralized Crypto ExchangeDecentralized Crypto Exchange
PlatformThird-party handles transactionsPeer-to-peer transactions
Types of tradesCrypto-to-crypto, fiat-to-crypto, leverage tradingCrypto-to-crypto only
Private KeysExchange holds custody of the private keysThe user holds custody of their private keys
SecurityRisk of hackers and theftMinimal risk of hackers and theft
Ease of useEasy – similar to working with a bankCan be complex
Fees (Range)Low (0.025%) to very high(0.4%)Zero (0%) to high (0.3%) + Gas fees
LiquidityHigh liquidityLow liquidity

Centralized Cryptocurrency Exchange

Centralized cryptocurrency exchanges have a third party or middle man who oversees the day-to-day operations and completes the transactions like a bank. 

    Cons

  • Hacking risk. Because of their centralized design, these exchanges are often targets for hackers and thieves.

  • Higher transaction fees. The ease of use and convenience they provide often comes at a higher cost.

  • Lack of privacy. Users must complete some type of verification which may vary from simply confirming their email address to providing detailed personal and bank information.

Decentralized Cryptocurrency Exchange

Decentralized exchanges are peer-to-peer platforms. That is, users buy and sell directly. There is no middle man. The exchange operates on a network of computers and completes transactions via an automated process. 

Bitcoin was the first decentralized cryptocurrency in the world. It uses public-key cryptography to sign and record all transactions over the Bitcoin blockchain.

Despite the benefits of decentralized exchanges, they aren’t nearly as popular as centralized exchanges mainly as they are more technically challenging to use. 

    Cons

  • Can be complex to use – aside from getting familiar with the platform and the process, users must remember keys and passwords or their assets could be lost forever.

  • They do not allow fiat trades – unlike centralized exchanges, decentralized exchanges only offer crypto-to-crypto trades, making them less convenient for users who do not already hold cryptocurrencies.

  • Low liquidity – due to the lack of trading volume at times, it may be difficult for some sellers to find buyers and vice versa in a timely manner. 

Comparing Cryptocurrency Exchanges

There are several cryptocurrency exchanges but they are not all created equal.

Bigger exchanges offer more security and liquidity but often miss out on newer, promising projects. They are often very strict with identity verification requirements (Know Your Customer or KYC) and have slow support.

These exchanges also typically offer the best cryptocurrency exchange rates.

Chosen 8 times
  • Fees between 0.036% and 0.144%
  • Easy to convert money
  • Visa card with cash back rewards
  • Earn interest on crypto

Smaller exchanges offer more speculative tokens, more lenient KYC requirements, and more responsive support. However, liquidity on the exchanges is quite low, meaning that you may lose money when you trade due to slippage.

Many smaller crypto exchanges often lack security and don’t hold emergency insurance funds, which protect your savings in case of a hack.

Features, as well as fees, can vary wildly from exchange to exchange. 

As if this wasn’t already confusing enough, there is a new generation of exchanges called Decentralized Exchanges (DEXs), which come with a unique set of features such as no governing authority, no KYC requirements, and direct ownership of your assets.

DEXs are however more complicated to use and recommended for more experienced and speculative traders. Since DEXs have no support, one mistake can lead to losing all of your funds or paying an extraordinary amount of fees.

To make it easier for you, we recommend sticking with the top centralized cryptocurrency exchanges.

What Are the Top Cryptocurrency Exchanges? 

The list of top cryptocurrency exchanges will vary based on the type of exchange (centralized or decentralized), the type of cryptocurrencies you are looking to buy or sell (bitcoins or altcoins), and the trading features you are looking for. 

Chosen 14 times
  • Recommended for social trading
  • Free stock and ETF trading
  • Seamless account opening
  • Leading cryptocurrency exchange

However, some exchanges are really well known and tend to offer the best stability, functionality, and coin supply.

Based on liquidity and trading volume, CMC lists these as the top cryptocurrency exchanges:

Crypto exchangeLiquidity scoreMarketsCoins
Binance6441138344
Coinbase Pro45414249
Kraken53828462
Bitfinex487279146
Huobi Global594930314
KuCoin451624285
Bithumb243177158
Bitstamp2915318
Coinone216166165
Poloniex306307173
The top 10 biggest cryptocurrency exchanges

What Are the Next Cryptocurrency to Explode in 2021?

The crypto world is constantly changing and we’ve seen many new cryptocurrencies like Safemoon and Dodgecoin.

Safemoon is one of the most successful crypto stories with a 777 trillion initial supply, and a $1,000 investment would have been worth about $3.5 million today.

Let’s move over to EverGrow COIN as it aims to become the next big crypto currency in 2021. It’s the first Yield Generation token that rewards users in USDT. It uses a unique buyback mechanism that offers consistent returns and benefits.

With that being said, here’s why we think EverGrow COIN could be the next cryptocurrency to explode in 2021:

  • With every transaction, it redistributes 8% of the transaction to the wallets of all transaction holders. This is an automatic process and each user gets a share in proportion to the EverGrow coins they hold.
  • Also with every transaction, 3% is sent to the buyback reserve. The tokens are locked and stored in the contract, designed so that the BNB in strategic reserves can’t be withdrawn, only used to purchase EverGrow COIN.
  • With the anti-Whale system, a 1% charge is applied to sales and this lowers Whale manipulation and the volume of swing trading.
  • The liquidity of EverGrow COIN is locked for a 12-month term on PancakeSwap and no member can withdraw. Team tokens are locked and unlocked cyclically and this reduces sell-off influences on the current price.

Cryptocurrency Prices

Cryptocurrency prices are determined by various factors. For example, bitcoin prices are determined by:

  • The market demand and supply
  • The cost of producing a bitcoin
  • The rewards given to miners for verifying blockchain transactions
  • The number of competing cryptocurrencies
  • The exchanges it trades on
  • The regulations governing the buying and selling
  • Internal governance

How to Find the Best Cryptocurrency Exchange 

The best cryptocurrency exchange platform for you will depend on several factors, including the type of exchange you prefer, the kind of cryptocurrencies you are looking to buy or sell, and your level of expertise. So, it’s important to consider what’s most important to you and then do your homework.

Chosen 6 times
  • High-quality trading platforms
  • Commission-free stock, ETF and options trades
  • Advanced tools
  • Active trader community

How to Find the Best Cryptocurrency Exchange

Step 1

Availability

First and foremost, confirm that the exchanges are available to operate in your country of residence and that there are no trading restrictions.  Big exchanges like Binance are not available in the US, so they use subsidiaries such as Binance.us, which however has much less liquidity than the main exchange.

Step 2

Payment methods

Payment methods vary among cryptocurrency exchanges – from bank wire transfers only to cryptocurrency only, to accept Visa and Mastercard. Check to be sure your preferred methods of payment are available.  

If you are just getting started, having access to an exchange that allows for direct fiat to crypto exchange is essential. 

Step 3

Reputation

Look for exchanges that have been in the market for years and have a strong reputation. Pay importance to a transparent organizational structure, a large and experienced team, independent audits, a large social media following, and generally positive customer reviews across different platforms. 

Step 4

Security

If an exchange is not secured properly, you could lose your assets. Research for previous hacks on the exchange and how they dealt with each case. Check if there are insurance funds covering potential hacks and how the timeframe that users get compensated in case of such events.

Also verify that security systems are available such as 2FA, IP and device whitelists, withdrawal address management, and cold wallet storage of non-trading assets.

Step 5

Fees

Different companies have different pricing models so compare all exchange fees and be sure you understand their fee structure. Some have a flat fee per trade while others require a percentage of each trade based on their specific criteria. In either case, fees generally decrease with an increase in the amount and frequency of trades. 

Also, check for any deposit or withdrawal fees. Companies may offer quick and convenient ways to buy and sell cryptocurrencies such as with a credit or debit card, but they may also come with much higher fees.

Step 6

Supported coins

Not all cryptocurrency platforms offer access to all coins so, it’s important to know if a particular exchange has the specific cryptocurrencies you want. Choose exchanges that have a large number of listed tokens/coins and that regularly announce new listings. Also look for exchanges with a high number of trading pairs, which will give you more trading options, and minimize your fees.

Step 7

Liquidity

Look for exchanges with high trading volumes, and high liquidity index scores. The higher the market’s liquidity, the less trade slippage will occur when you trade, saving you significant money in the long run.

Step 8

Trading feautures

As you become a more experienced crypto trader, you will be looking for new ways to mitigate your risk or increase your potential earnings. Using an exchange that offers a variety of trading features such as leveraged trading and perpetual futures is an important arsenal in your trading strategy.

Cryptocurrency FAQ

What is cryptocurrency mining?

Crypto mining can be seen as a way to create new crypto coins. Cryptocurrency mining involves the validation of crypto transactions on the blockchain network, and then adding them to a distributed ledger. One important factor of crypto mining is that it prevents double-spending on the network.

When someone spends cryptocurrency, the ledget must be updated be debiting one account and crediting another. But the challenge in this is that digital platforms are easy to manipulate.This is why Bitcoin’s ledger, for example, only allows verified miners to update ledger transactions.

As a reward for miners doing their work, new coins are created. This is a crucial benefit since there is no centralized authority for these distributed ledgers, so the mining process is crucial.

How to Get Started in Cryptocurrency

To start mining crypto, you’ll need a computer with special software that is designed to solve complex cryptographic equations. You’ll typically need a specialized GPU or ASIC (application-specific integrated circuit) miner. You’ll also need a reliable internet connection and be a member of an online crypto mining pool.

What is the best cryptocurrency?

There are many different cryptocurrencies but some of the best cryptos include Ethereum (ETH), Dodgecoin (DOGE), Binance Coin (BNB), Bitcoin (BTC), and Solana (SOL).

Sources

Lorien is the Country Manager for Financer US and has a strong background in finance and digital marketing. She is a fintech enthusiast and a lover of all things digital.

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