If you’re looking for the best crypto exchange, you might have noticed that, online, there are multiple different options available for you to pick from. Coinbase, Binance, Kraken, Bittrex… It can get pretty overwhelming, quite fast!
In a situation like this, all you need is an objective, to-the-point review of the top 10 crypto exchanges (or, in this case - top 7). Well, I’m happy to provide you with one!
Admittedly, though, it’s not really worth talking about the exchanges if you don’t really know the evaluation criteria first, right? In order to ensure that we’re both on the same page here, I’ll give you a quick rundown of the most important aspects of how the best place to buy cryptocurrency should look like, first.
The crypto exchange platforms that we’ll be discussing are:
- Coinbase (best overall)
- Simplex (best when buying with credit / debit card)
- Binance (very low fees)
- Kraken (wide variety of crypto coins to pick from)
- Bittrex (high levels of security)
- Cex.io (very easy to use)
- Coinmama (good customer support)
Additional options:
- Bitstamp (stable reputation)
Best Crypto Exchange: The Evaluation Criteria
As noted in the introductory part of the article, in order to talk about the best crypto exchanges, it’s crucial to first understand the actual criteria by which these exchanges are sorted.
In other words, before you go and register to some sort of a crypto exchange platform, you should probably know a bit more about its security measures, prior security breach history (if there is any), fees and pricing, coin variety, and so on.
Those are actually some of the most important aspects to look at when picking the best cryptocurrency exchange, too. Security is a no-brainer - if the exchange doesn’t have some fundamental security measures, it isn’t even worth looking into.
Some exchanges offer even more than the basic security features, though - an example of this would be 2FA (two-factor authentication), or creation of custom PIN codes.
Naturally, you’ll want the best crypto exchange to be easy to use. Meaning, fast registration and verification processes are much appreciated, but the main emphasis still lies in the UI - user interface. Processes like trading, exchanging and buying crypto coins should fool-proof and very easy to accomplish. Wallet access and security settings are also important!
Naturally, no matter if you’re looking for the top 10 crypto exchanges or the top 3 ones, you’ll always want the best option to have multiple coin support. If the exchange supports only 2 or 3 coins, it’s not really going to be worth registering on, at least in most cases.
So, with all of that out of the way, let us move on to the list of the best crypto exchanges of the year!
1. Coinbase - A Crypto Exchange Leader
Ranks #1 out of 7 Crypto Exchanges
- + Fiat currencies - accepted
- + Simple to use
- + Accepts only the most trustworthy cryptocurrencies
- + Very secure
- - Not available in all countries
- - Some of the less-known coins aren't supported
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If you’ve ever searched for the best crypto exchanges, without a single doubt, Coinbase must have popped up on your radar rather frequently.
This isn’t without a solid reason, either - Coinbase is often viewed as the best place to buy cryptocurrency, no matter what that currency is. Well, OK, perhaps it does matter - but we’ll get to that in a minute.
So, then, what makes Coinbase so special? Well, it ticks almost all of the essential parts of a great crypto exchange.
Coinbase is very simple and straightforward to use. The signup and registration process is quick, and while you have to verify your identity, this doesn’t take long at all, either. The exchange keeps things very simple and, more importantly, minimal - it won’t overcrowd you with a variety of different interface screens and features.
Another thing that makes Coinbase one of the top crypto exchanges is the fact that the platform’s very secure. While there have been multiple different attempts to breach the exchange’s security, Coinbase is yet to suffer a huge hack (think Mt. Gox levels of “huge”).
Now, the one qualm that many users have with the platform is that it does lack some cryptocurrencies. Meaning, you can only purchase specific cryptos from the site, while others are going to be unavailable, even though they are listed.
And we’re not just talking about some unknown, niche cryptos that are unavailable here, either! Examples would include Monero, Tether and Tron - these are some of the better-known names in the industry!
Now, admittedly, fee-wise, Coinbase also isn’t the best crypto exchange out there. The fees on the platform are going to range from 1,49% up to 3,99%, depending on your country of residence, amount of money being traded, and so on. These are some high numbers! That said, Coinbase does guarantee optimal security, and is very trusted among the community.
2. Binance - Super-Low Fees
Ranks #2 out of 7 Crypto Exchanges
- + A very well-known crypto exchange platform
- + More than 100 different cryptocurrencies available to trade
- + Two-factor authentication
- - Might be a bit difficult for beginner crypto enthusiasts
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Binance is a very familiar name for anyone who’s ever done any crypto trades, or was looking for the best crypto exchange. It’s one of the dominating exchanges in the industry, and there are a couple of good reasons for why that’s the case.
For starters, Binance as some pretty high trading volumes. If you’re a complete beginner when it comes to crypto trading (or simply trading, in general), you might not be aware of just how significant this point actually is!
You see, if an exchange has some high trading volumes, this means that people actually do trust the platform, and there are a lot of cryptos that run through it on a constant basis.
Even more than that, though, it means that there are always going to be competitive prices available for you to analyze and perhaps even utilize, if you're quick enough.
You see, if you were to look for some top 10 crypto exchanges (or any number of top exchanges, for that matter), and pick one that has non-existent trading volumes, you’d have a pretty hard time selling or buying crypto coins there, at some good prices.
Binance is also great because it utilizes 2FA - two-factor authentication. This means that the exchange truly does take the question of security seriously (even though it did have some issues with its security side of things, some time back).
Finally, the thing that makes Binance one of the best crypto exchanges out there are the fees that it enforces. You’ll pay up to 0,1% in fees, no matter what sort of, or how much of crypto it is that you’re trading. That’s amazing!
3. Coinmama - Friendly Customer Support, but High Fees
Ranks #3 out of 7 Crypto Exchanges
- + High levels of security
- + Helpful customer support
- + User-friendly platform
- + Available in 188 countries, and most US states
- + Accepts credit/debit cards
- - No way to call the support via phone
- - Limited amount of cryptocurrencies
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Coinmama is one of the names that do tend to pop up rather often whenever you’re searching for the best crypto exchange. While the exchange in question appears to be well-rounded, in general, there are a couple of things that stand out pretty fast.
Coinmama reportedly has some of the best customer support on the market. That’s both rare, and also much appreciated! Users of the platform report that the customer support is very friendly, yet still rather professional - you’ll get all of your questions answered, no problem!
The exchange is also user-friendly - the features are all straightforward and simple to find (and use, naturally). Even if you’re a complete industry newcomer, you shouldn’t find yourself struggling to figure out Coinmama’s interfaces.
The biggest (justified!) qualm that people have people have with Coinmama are the fees. The platform charges users up to a 5,5% fee - that’s insane! Still, most of the other aspects surrounding Coinmama are quite alright - it does still qualify for a spot on the “best crypto exchanges” lists.
4. Kraken - Over 150 Cryptocurrencies Available
Ranks #4 out of 7 Crypto Exchanges
- + Secure and reliable
- + Low fees
- + A good amount of fiat currencies accepted
- - Not the most helpful customer service
Looking for the best crypto exchange, or simply the best place to buy cryptocurrency, sooner or later, you’re going to come across Kraken.
Admittedly, this might be one of the better options as far as the “best” part is concerned.
What makes Kraken so special? Well, for starters, the exchange in question offers users more than 150 different cryptocurrencies to pick from, in regards to trading, buying and selling. While this is far from the 5000+ different crypto assets that exist today, let’s face it - most people are going to be interested in 3-7 cryptocurrencies, tops.
With a selection of over 150 crypto coins and tokens, Kraken does truly offer a good variety of choices! To add to that, you can purchase cryptos with fiat currencies on the exchange itself - this makes things significantly easier!
Kraken does also have a great mobile app that’s both intuitive and simple to use, and users point out that, as far as the top crypto exchanges are concerned, this particular one can surely boast about its customer support.
Fee-wise, Kraken takes anywhere from 0% up to 0,26% from your transaction. Truly some of the better numbers, at least when it comes to crypto exchange fees!
5. Bittrex - Top-Notch Security
Ranks #5 out of 7 Crypto Exchanges
- + Very secure
- + Small, fixed fees
- + Fast exchanges
- + Wide variety of crypto and fiat currencies
- - Some user complaints regarding support
- - May be somewhat difficult for an industry newcomer
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If security is something that you care about when picking out the best crypto exchange (which, without a doubt, you should care about), then Bittrex is surely one of those exchanges that you should pay close attention to.
The main thing that showcases just how secure Bittrex truly is would be the fact that the exchange keeps up to 90% of all of the crypto assets in cold storage devices - in other words, the cryptos are kept offline, without the ability for hackers to access them as simpy as with some other exchange platforms.
Bittrex does also have around 200 different crypto assets for users to pick from (that’s a lot!), and the fees are fixed at 0,25%. While the platform has had some issues with “pump-and-dump” scams before, things do appear to be in check for a while now.
All things considered, surely one of the top crypto exchanges on the market!
6. Cex.io - High Levels of Security, Easy to Use
Ranks #6 out of 7 Crypto Exchanges
- + Easy to figure out
- + Different trading pairs
- + Great support
- - Might lack coin options
The simplicity of Cex probably notorious at this point - as far as the best cryptocurrency exchanges go, Cex.io is surely one of the most straightforward and easy-to-use platforms!
The exchange has some very strict security measures, too. These are evident each time you log into your account - in addition to 2FA, you will also receive notifications to your registered email about each and every single login attempt - that’s amazing for those who truly care about the security and integrity of their crypto coins.
Same as with some other crypto exchanges, Cex offers great fees for its users, too. The fees are going to range from 0% up to 0,25%.
All in all, Cex.io is surely worth paying attention to!
7. Simplex - Top-Rated Credit Card Processing Platform
Ranks #7 out of 7 Crypto Exchanges
- + Can pay for cryptocurrency with credit or debit card
- + Very fast payment processing
- + Secure and reliable
- + Very simple to use
- - Does not support some cryptocurrencies
- - Higher fees than with some cryptocurrency exchanges
Now, Simplex is one of the most unique entries on this list - that goes without saying.
The reason behind this is pretty interesting, too - Simplex isn't actually a cryptocurrency exchange, to begin with. Instead, it is a credit card processing service.
While it may sound rather out-of-place, that's actually the main strength of the platform in question, too - it allows users to purchase their desired cryptocurrency with a credit or debit card, without having to go through the process of registering on some other exchange, buying one crypto coins there, and then using it to purchase some other one elsewhere.
As you can probably imagine, this is quite comfortable. That said, comfort is far from the only thing that Simplex provides - it wouldn't be located on this "best crypto exchange" list if that was the case, now would it?
Purchasing your desired cryptocurrency via Simplex, you'll be able to rest assured that your payment is going to be smooth and secure. The process of buying crypto via the platform is also very simple and straightforward, too, which is great for both crypto newcomers and industry veterans, alike.
While some users point out that the fees of Simplex are somewhat high (up to 5%), this is justified by the unparalleled security and simplicity (buying crypto with a credit card) that the platform provides.
Conclusions
Choosing the best cryptocurrency exchange is no easy task. Even with an extensive list of the top crypto exchanges, it can be difficult to pick out the one that would suit your wants and needs best.
Still, always make sure to concentrate on aspects such as security and fees. If the platform is secure and has some amazing fees associated with it, then everything else can surely be overlooked, at least to a certain extent.
Well, THAT, and crypto coin variety - it’s probably something that is going to matter to a lot of people, too. Whatever the case might be, don’t ever try to ‘shortcut’ and use a platform that nobody has even heard about before. Remember - your cryptocurrency is in stake here!
With all of that being said, I do hope that this list of some of the best crypto exchanges out there was useful to you. Good luck with your trades, and see you next time!
Other Crypto Exchanges In This Category
Here are other crypto exchange related to the category but not as favoured by BitDegree.org Crypto Exchanges readers yet. In my personal opinion, today there are much more optimal crypto exchange in the list with the higher rating that I'd recommend for the same price range or less.
Bitstamp - A Reliable Crypto Exchange with a Long-Lasting Reputation
- + Helpful customer support
- + Fiat payments are accepted
- + Reliable
- - Not best for beginners
- - Might lack cryptocurrency options
Admittedly, Bitstamp might be the less-mentioned cryptocurrency exchange platform, as far as this list is concerned. That being the case, though, it’s also considered to be one of the most reliable crypto exchanges in the industry!
Bitstamp’s reputation isn’t unflawed - the exchange does have a history with some security breaches. The redeeming factor here, however, is that no user crypto assets were lost, and the company has truly made objective efforts to make sure these things do not happen again.
In a very general sense, Bitstamp is one of those platforms that have truly earned their reputation - it wasn’t an easy feat, mind you! Today, however, no matter which point you look at (customer service, fees, security, or else), Bitstamp is often regarded quite highly.
When it comes to fees, Bitstamp may charge you anywhere from 0,05% up to 5%. While that is a pretty broad range, for sure, the actual fees themselves depend on your preferred payment method.
The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.
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