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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. Binance, Coinbase, Kraken, KuCoinIt can get pretty overwhelming, quite fast!

In a situation like this, all you need is an objective, to-the-point review of the top crypto exchanges - in this case the top 9 platforms in the industry. 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:

  • Binance (very low fees)
  • Kraken (a wide variety of crypto coins to pick from)
  • Coinbase (top-tier usability)
  • Bybit (crypto derivatives)
  • KuCoin (great community support)
  • BYDFi (strictly regulation-compliant)
  • Bitfinex (advanced trading functionality)
  • Bitstamp (reputability & advanced features)
  • Cex.io (very easy to use)
  • Coinmama (good customer support)

Best Crypto Exchange: The Evaluation Criteria

Cryptocurrency exchanges are designated platforms where individuals can come in, register, and exchange their crypto coins & tokens for either other assets, or fiat money. Well, at least that's the gist of it. There are two major types of exchanges out there - centralized (owned by private companies), and decentralized (owned by no single central authority) ones. Today, we're focusing on the former.

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.

Best crypto exchange: crypto coins scattered on a graph.

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. Binance - Super-Low Fees

Ranks #1 out of 9 Crypto Exchanges

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 has 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 crypto it is that you’re trading. That’s amazing!

Visit Binance
...or read our Binance review

2. Bybit - A Crypto Derivatives Giant

Ranks #2 out of 9 Crypto Exchanges

Bybit is a crypto derivatives exchange that was founded and established in 2018. While the platform started out by offering its clients crypto derivatives products, exclusively, it has grown to become one of the more respected and well-known exchanges on the market, in just a few years’ time!

The features and benefits offered by this particular exchange are plenty - users can expect everything from a state-of-the-art trading interface, all the way to a dedicated mobile app and beginner-friendly functionality.

On top of that, Bybit also employs some of the better fee models, as well. While your actual fees will vary depending on your VIP level, the Spot market fees will range anywhere from 0.1% across the board, all the way down to 0.02% and 0% for market takers and makers, respectively.

While Bybit does position itself as a beginner-friendly crypto exchange, the platform caters to advanced-level traders, as well. You can access the aforementioned perpetual and derivatives markets, utilize up to 100x leverage, as well as use other advanced trading tools, as well.

Lastly, if you ever find yourself stuck, there will always be helpful customer support agents to assist you - definitely notable, when it comes to the best cryptocurrency exchanges in the industry!

Visit Bybit
...or read our Bybit review

3. Kraken - Over 150 Cryptocurrencies Available

Ranks #3 out of 9 Crypto Exchanges

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!

Visit Kraken
...or read our Kraken review

Compare Crypto Exchanges Side by Side With Others

Did you know?

Compare Crypto Exchanges Side by Side With Others

All Crypto Exchanges may look similar to you but they're NOT all the same!

Yes! Show me the Comparison Chart

4. Coinbase - A Crypto Exchange Leader

Ranks #4 out of 9 Crypto Exchanges

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.

Visit Coinbase
...or read our Coinbase review

5. KuCoin - A Dedicated Community

Ranks #5 out of 9 Crypto Exchanges

KuCoin is a well-known name in the cryptocurrency industry. The exchange, same as many others on this list, offers its users a variety of different products and services, in addition to the expected crypto trading functionality.

First and foremost, KuCoin allows its clients to trade a wide array of different cryptocurrencies. This includes both some of the most popular coins on the market, as well as some other, more-niche assets. This is great for anyone who's looking to diversify their portfolio, in the long run!

On top of that, KuCoin is also known for having some of the best trading fees in the industry. Both market makers and takers start off with a 0.1% trading fee - as you trade more crypto on the platform, you are actually able to get that number even lower. That's very significant!

KuCoin also has interest-earning functionality, advanced trading tools, and fiat payment acceptance, as well (the exchange accepts 5 fiat currencies). All in all, with strong community support behind the exchange, KuCoin is definitely worth considering, for anyone who's looking for the best cryptocurrency exchange out there!

Visit KuCoin
...or read our KuCoin review

6. BYDFi - Reputable & Regulation-Compliant

Ranks #6 out of 9 Crypto Exchanges

BYDFi is a crypto exchange that has been making waves in the industry. In 2023 alone, it was recognized by Forbes as one of the top ten best crypto exchanges on the market - that’s no easy feat to accomplish!

What makes BYDFi stand out, then?

First and foremost, the company behind the exchange puts a strong emphasis on regulatory compliance. The exchange is available in over 150 countries around the globe. Most notably, it can also be accessed and used by residents of the United States and Canada.

That’s not a common perk that many exchanges can boast about!

Naturally, it’s not the only major benefit of BYDFi, either. The exchange has a large variety of trading tools that cater to both industry newcomers, as well as veteran traders who are looking for some advanced options. There’s even a copy-trading feature available, too!

Spot trading fees range from 0.1% to 0.3%, which is in the range of the industry average. The only notable downsides of the exchange are the fact that it doesn’t support NFT trading and storage, as well as the fact that there are no staking capabilities available on BYDFi.

Visit BYDFi
...or read our BYDFi review

7. Bitfinex - A Crypto Exchange for Experienced Traders

Ranks #7 out of 9 Crypto Exchanges

Bitfinex is surely among the best-known crypto exchange platforms in the world. The exchange offers its clients all of the top features that you’d come to expect - a fiat on-ramp, low trading fees, a significant number of supported crypto assets, and so on.

To be more specific on that last point, as of writing this, Bitfinex supports a bit over 170 different crypto coins and tokens. This is a pretty significant number, and will definitely be appreciated by both crypto newbies and experts, alike!

That being said, it’s a common belief that Bitfinex itself, as far as the best cryptocurrency exchanges go, is catered more towards the latter group of individuals - experienced crypto traders who are looking for advanced-level functionality. That’s exactly what Bitfinex offers, too - multiple different trading tools, as well as different trading products, as well (spot, perpetuals, etc.).

While the exchange in question has had a bit of a shaky past, user reviews point out that, as of late, Bitfinex has highly improved its security features, and is adamant about preserving the integrity and security of its user accounts.

This is further proven when you take a look at the actual safety features that the platform employs - two-factor authentication, IP whitelisting, email encryption, cold storage, and much more.

All in all, there’s definitely a lot to check out with Bitfinex!

Visit Bitfinex
...or read our Bitfinex review

8. Bitstamp - A Reliable Crypto Exchange with a Long-Lasting Reputation

Ranks #8 out of 9 Crypto Exchanges

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!

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! The exchange had to figure out how to solve its security vulnerabilities, as well as how to navigate the ever-changing world of crypto. Today, however, no matter which point you look at (customer service, fees, security, or else), Bitstamp is often regarded quite highly.

The cryptocurrency exchange in question is often regarded as one of the better options for anyone who's an advanced-level trader, and is looking for functionality to match their trading skills. Meaning, Bitstamp offers users those advanced features, and allows them to trade crypto in a professional manner.

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.

All things considered, Bitstamp is surely one of the top cryptocurrency exchanges on the market today!

Visit Bitstamp
...or read our Bitstamp review

9. Cex.io - High Levels of Security, Easy to Use

Ranks #9 out of 9 Crypto Exchanges

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!

Visit CEX
...or read our CEX review

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 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.

Coinmama - Friendly Customer Support, but High Fees

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.

Gemini - A Reliable, High-End Crypto Exchange

Gemini is a US-based cryptocurrency exchange. Naturally, it's a very popular platform to use in the country, granted that it's available in all of the different states, with no exceptions.

Not all exchanges can claim that - good start!

To add to that, Gemini is a fully KYC-compliant platform. While this might not be the best news for anyone who's looking for decentralized exchanges, however, it makes the exchange compliant with all of the relevent laws, and much safer to use than the aforementioned options.

A unique feature of Gemini is that it offers users the chance to insure their assets. Specifically, Gemini insures the digital assets held in their hot wallets. This should provide all customers with some peace of mind, and add an extra leyer of reliability - definitely an amazing feature for one of the best cryptocurrency exchanges on the market!

Hot wallets aside, Gemini does also use cold storage devices to secure their user assets, too. This is undoubtedly one of the strongest security measures that an exchange can take! Gemini's security features are top-tier, in general, and to date, the exchange has never been hacked, or had its security breached.

Bittrex - Top-Notch Security

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-dumpscams 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!

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.

About Article's Experts & Analysts

By Aaron S.

Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era. W...
Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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Recent Best Cryptocurrency Exchange User Reviews

JARROD

4.8/5.0 - CEX User
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trading experience

No limit trading on verified account got the better of me. Wish there were measures to stop me in that situation. Take my advice and DON'T trade in large sums if unexperienced...

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Glad fees on this platform are not too high and deposits are free in the EU. I withdraw quite often so those costs do add up ://

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Mario Ruiz

4.0/5.0 - Bitfinex User
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So far so good

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devon

5.0/5.0 - Bitfinex User
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👍👍

good read

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dora jennings

5.0/5.0 - Bybit User
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finally found it???

thanks to its advanced trading tools and low fees i might try is as my very first exchange! 🥰🥰🥰 i've been searching so much, can't believe i'm finally convinced to start my journey!

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shakir

5.0/5.0 - Kraken User
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Upgrade

Had to upgrade to higher tier because fiat payments were not eligible. As promised, got verified in few days. Don't know what I was hesitant about :) now have unlocked all the available features!

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Marsha Castillo

5.0/5.0 - Bybit User
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gooooood

👍

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Amalia Th

5.0/5.0 - CEX User
25/02/2024

Good choice

Have been using this exchange for a long time and no major issues have occured. The info on their support section eliminated my concerns

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Margot234

4.8/5.0 - Binance User
18/03/2024

Low fees

I was very happy with the low trading fees and security they offer, but still feel that more info could be provided for beginner traders

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Hook Ioana

5.0/5.0 - Kraken User
28/02/2024

PRO level :)

How come no one told me to start using Kraken PRO sooner. I regret missing oportunity. At least now i'm at a level that I can use the platform to it's full potential

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CJ Noor

5.0/5.0 - Kraken User
11/04/2024

annoying but necessary

Security measure arround every corner:D Was annoyed at first but now got used to it and i generally feel safer about my money on the platform

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Ten Minutes Drum

4.0/5.0 - Bitfinex User
05/02/2024

SLOW

VERY SLOW, AND UNDER DDOS ATACK, THEY CAN'T SOLVE THIS PROBLEM?????

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ray keenan

5.0/5.0 - Coinbase User
15/02/2024

what about some customization?

The platform is very functional and all but I wish customization was available. Personalising design or colour themes and feature placements would be a great option!

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Wilkins jr

5.0/5.0 - Bitstamp User
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It's OK

Have been using Bitstamp exchange for many years, dont have many reasons to complain!

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Catherine Chambers

5.0/5.0 - Bitfinex User
17/03/2024

hitting the share button

i just cant wait to share this information with my trader friends, theyll be just as interested as me, since they wanted to know more about bitfinex

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K. C. Michael

5.0/5.0 - Coinbase User
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Average user

The interface and navigation is not as intimidating as i have seen on other exchanges, all main functions are easy to find and use. The clean design is average user fiendly!

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E. Kramer

5.0/5.0 - Coinbase User
22/01/2024

Never had issues

I can happily vouch for the security on Coinbase. Had to seet it to believe it, no issues to this day. The sertifications they have acieved only add to the trust!

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K Meadows-Davila

4.6/5.0 - Bitstamp User
20/02/2024

wallet

easy to purchase with fiat money, but after every trade i withdraw everything for free to my wallet outside of the platform.

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Saara Stevens

5.0/5.0 - CEX User
09/04/2024

Great for beginners

My start on the platform was easier that antcipated. The support section was very informative and resources were easy to understand as a new trader. Now can navigate and trade with ease!

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Leave your honest Best Cryptocurrency Exchange review

Leave your genuine opinion & help thousands of people to choose the best crypto exchange. All reviews, either positive or negative, are accepted as long as they’re honest. We do not publish biased reviews or spam. So if you want to share your experience, opinion or give advice - the scene is yours!

FAQ

What is the best crypto exchange out there?

This does depend on a lot of different factors! The best crypto exchange may differ from person to person - some people are going to value small fees and easy-to-use UI, while others will only use a platform if it has the best possible security measures in place. Whatever the case might be, though, Coinbase and Binance are usually seen as the best alternatives.

What are the main features of the best crypto exchanges?

The best crypto exchanges are going to have unmatched security features as their main point of reference. Also, such exchanges should possess decent fees, and be easy to use, even for beginner cryptocurrency traders. Exchanges such as Binance and Coinbase do tick all of these points!

How to pick the best crypto exchange for yourself?

Picking out the best crypto exchange for yourself, you should always focus on maintaining a balance between the essential features that all top crypto exchanges should have, and those that are important to you, personally. For example, all of the best exchanges should possess top-tier security features, but if you're looking to trade only the main cryptocurrencies, you probably don't really care too much about the variety of coins available on the exchange. It's all a case-by-case scenario!

Which cryptocurrency exchange is best for beginners?

Reading through various best crypto exchange reviews online, you're bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn't encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market.

What is the difference between a crypto exchange and a brokerage?

In layman's terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman - it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no “other person” - you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term - exchange. This is done for the sake of simplicity.

Are all the top cryptocurrency exchanges based in the United States?

No, definitely not! While some of the top cryptocurrency exchanges are, indeed, based in the United States (i.e. KuCoin or Kraken), there are other very well-known industry leaders that are located all over the world. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. While there are many reasons for why an exchange would prefer to be based in one location over another, most of them boil down to business intricacies, and usually have no effect on the user of the platform.

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