Best Crypto Exchanges in 2023

The confusion starts when looking for the answer to “What is the best crypto exchange?” because several cryptocurrency exchanges are available. More than 4000 different cryptocurrencies are available, with a daily trade volume and a market cap of $100 million and $600 billion. These numbers indicate that the growth of cryptocurrencies will further improve in the next few years. The rapid rise in experienced crypto traders and investors in the past decade suggests the rising demand for cryptocurrencies.

Cryptocurrencies are stored in cryptocurrency wallets & can be exchanged or traded for other cryptos through a crypto exchange France. Some of the cryptocurrencies can be acquired via mining, as in the case of Bitcoin. However, when mining is not an option, one can purchase it from a cryptocurrency exchange.

As a cryptocurrency investor or someone looking to start cryptocurrency trading, understanding the importance of the best crypto exchange is crucial. And in this article, we have listed some of the best US crypto exchanges. We aim to help you narrow the crypto exchange that matches your requirements. Some topics covered in the content include salient features or unique characteristics of the exchange, its pros and cons, etc. Now, Let’s get started with detailed information.

What Is a Cryptocurrency Exchange?

Cryptocurrency exchanges or crypto exchanges, also known as Digital Currency Exchanges (DCE) or cryptocurrency brokers, enable users to exchange or trade cryptocurrencies (where to buy cryptocurrency and sell) for other digital currencies, fiat currency, & other digital assets.

In other words, a cryptocurrency exchange is also defined as a digital marketplace where one can buy/sell cryptocurrencies using other cryptocurrencies and fiat currency. Simply put, a crypto exchange is a trading platform that connects cryptocurrency buyers & sellers. Cryptocurrency loan is one of the unique features of the exchange platform and it allows crypto investors to loan their cryptocurrency tokens for a specific rate of interest.

As stated earlier, a cryptocurrency exchange is an integral aspect of the crypto world. We have researched what we consider some of the best exchanges. Our best crypto exchanges list includes top cryptocurrency exchange websites that are believed to be best for beginners as well as advanced traders. That said, let’s get started with the different types of global crypto exchanges.

Types of Crypto Exchanges

• Centralized Exchanges: Centralized exchanges, as the name indicates, are governed by a central authority as opposed to most of the cryptocurrencies like Bitcoin & Ether which are decentralized in nature. Coinbase, Binance, Kraken, Gemini, among others, are some of the cryptocurrency exchanges falling into the centralized exchange category. Typically, a centralized exchange is a private company that supports one or many crypto trading platforms that support fiat-to-crypto, and vice versa, and or crypto-to-crypto trading. As they are centralized in nature, users must complete the registration, identification, and verification processes for opening a crypto trading account.
  Apart from the above-mentioned, some of the other salient features of a centralized exchange include high liquidity, active trading, and high trading volumes. While these are certainly some of the benefits, account safety is a major concern as the trading platforms require the user’s information for creating a trading account.
  To overcome the drawback stated above, most of the top cryptocurrency exchanges in this category offer some kind of insurance to the users during instances when the exchanges fail. However, insurance protection does not apply when the user’s computer or user account is compromised. Nevertheless, users can overcome this issue by regularly withdrawing large sums accumulated in their accounts.
• Decentralized Exchanges: Decentralized exchanges are also referred to as P2P (peer-to-peer) crypto trading platforms. Some examples of a best decentralized exchange include Bisq, IDEX, Bancor, Binance DEX, among others.
  As the name suggests, they are decentralized in nature, meaning they are not controlled by a single authority, unlike a centralized exchange. A decentralized exchange is based on blockchain technology, while some are also supported by Ethereum’s smart contract.
  Decentralized exchanges offer users anonymity as they are not required to share their information for creating their accounts. Such an exchange is generally not subject to crashing as the network is not controlled by a single server individual but by multiple servers. Thus, even when a single server crashes, the user account will remain active and safe. However, decentralized exchanges offer low liquidity and low trade sizes.
• Hybrid Cryptocurrency Exchanges: Hybrid cryptocurrency exchanges bring in the best aspects of both centralized and decentralized exchanges. For instance, they offer high liquidity and trade sizes of the centralized exchanges and the safety and security measures of a decentralized exchange via blockchain technology and smart contracts. Eidoo, Stoxum, Qurrex, Binance DEX, etc., are some examples of hybrid exchanges.

Top 11 Best Cryptocurrency Exchanges

Below are the best crypto exchanges as per our own research. Readers are advised to note that we have also reviewed these exchanges. Thus, one can consider this article as a compilation of crypto exchange reviews. Let’s get started with the review of the global digital asset exchange.

1. Coinbase

Coinbase is believed to be the best crypto exchange UAE due to its massive user database. Most crypto exchange reviews claim Coinbase platform is quite popular among new and experienced traders due to its ease of use. It also features Coinbase Pro for advanced traders and cryptocurrency market makers.

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What makes Coinbase one of the best Bitcoin exchanges is its vast number of crypto users. As per the data collected, Coinbase platform has over 30 million users worldwide. Coinbase supports more than 40 cryptocurrencies and has a better reputation when compared to many Bitcoin exchanges that offer many crypto tokens. Some of the cryptos supported include Bitcoin, Ripple, Litecoin, Algorand, Augur, Ren, Orchid, Civic, etc.; and fiat currencies supported include USD, EUR, GBP, etc for fiat currency trading (for buy/sell).

Features

• Good reputation
• Easy to use trading features
• Intuitive and user-friendly interface
• High trading limit of $25,000 per day
• Biometric authentication
• The Financial Conduct Authority regulation makes it legal under all EU governments.
• Investor funds are stored securely in Tier-1 banks only.
• It provides maximum leverage of 500:1

Modes of Payment

Coinbase and Coinbase Pro support all bank cards, bank transfer, payment gateways like PayPal, etc.

Fees and Other Charges

Coinbase holds a stellar reputation for safety and user experience, so accordingly, the fee structure. It approximately charges 0.50% as a spread fee and a flat fee of $0.99 for transaction value equaling and below $10. This may go up to $2.99 for transaction values between $50 to $200. Apart from this, an additional 1.49% and 3.99% apply for US bank accounts and debit card purchases, respectively.
Our Verdict: As per our data, Coinbase bags the highest score as the most popular crypto platform.

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2. Binance

Binance is in our list of the best crypto exchanges as it is believed to be the largest cryptocurrency exchange in the world in terms of the trading volume and also crypto exchange with lowest fees. Binance was founded by Changpeng Zhao, who is a notable person associated with cryptocurrencies. Initially, Binance was headquartered in Hong Kong but later moved to Malta.

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Binance is known to support the exchange of more than 150 cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dash, Bitcoin cash to name a few. It has also started offering crypto lending facilities.

Binance DEX is a decentralized cryptocurrency exchange that has an API to integrate trading applications. The online platform offers all the benefits of a decentralized network like transparency, safety, anonymity, among others.

Features

Modes of Payment

Binance supports crypto trades with all bank cards, P2P, and bank transfer with other options. In other words, one can purchase cryptos using the cash balance option or through their bank account.

Fees and Other Charges

When compared to other cryptocurrency exchanges, Binance has a low trading fee at 0.1% per trade. The platform does not charge any additional charges deposit fees. However, standard withdrawal charges apply.
Our Verdict: Binance bags the highest score for its reputation according to our compiled research data.

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3. Crypto.com

Established in 2016 in Hong Kong, Crypto.com serves users in 90 countries and offers over 250 cryptocurrencies to over 10 million customers worldwide.

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Features

• Crypto.com offers more than 250 different cryptocurrencies to buy, sell and trade.
• It has its own CRO token Cronos.
• Crypto.com supports several fiat currencies as well, enabling users from different countries to purchase crypto with their native currency.
• Crypto.com has fewer trading fees.
• It has its own credit card and crypto wallet to offer to users.

Modes of Payment

Users can buy crypto via Crypto.com Pay on its website or mobile app, prepaid visa card offered by crypto.com, or with their own credit/debit card.

Fees and Other Charges

This platform charges fees for credit/debit card crypto purchases through its app. It charges 0.04% to 0.4% maker fees and 0.1% to 0.4% taker fees, with an additional 2.99% for credit card purchases. Crypto.com also charges a Visa debit card fee every month after 12 months of inactivity.

Our Verdict: Crypto.com offers more than 250 different cryptocurrencies.

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4. Kraken

Kraken is one of the best crypto exchanges in terms of low trading fees. It was founded by Jesse Powell in 2013. Except for New York, Kraken has operations in the United States, Canada, Japan, and the European Union. Only a pre-verified account can avail of the services even in New York.

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Features

• Kraken supports over 40 cryptocurrencies like Bitcoin, Ripple, Dash, Tron, Waves, and Zcash, to name a few. The fiat money supported including EUR, USD, CAD, AUD, GBP, CHF, and JPY.
• Kraken can be accessed from anywhere globally except for the following countries; Afghanistan, Congo, Cuba, Iran, Iraq, Libya, North Korea, Syria, and Tajikistan.
• Kraken offers 24/7 live chat support.
• Low trading fees.
• Supports most of the popular fiat money.
• Suitable for advanced traders.

Modes of Payment

SEPA, SWIFT, wire transfer are some of the payment options available at Kraken.

Fees and Other Charges

Kraken charges a stop trading fee of 0 to 2.6%, dark pool fee ranging from 0.2 to 0.36%. The low maker/taker fee makes Kraken the top crypto exchange for USA.
Our Verdict: Kraken provides 24/7 customer support.

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5. Gemini

Gemini has evolved as one of the best crypto exchanges with safety features of the highest standards, since its inception in 2014 by venture capitalists Winklevoss brothers. Gemini offers several services other than trading cryptocurrency like storage, payment solutions, among others. It serves 50+countries including a country like USA, Canada, United Kingdom, India, South Korea, Australia, etc.

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Gemini supports major cryptocurrencies and real or traditional currencies like AUD, CAD, GAB, USD, etc. Gemini is one of the few Bitcoin exchanges with a dedicated mobile app.

Features various crypto exchange reviews

The daily dollar deposit limit is $5,000, while the monthly dollar deposits limit $30,000. The daily withdrawal limit is $100,000, and the limit of debit card purchases is $500. believed to be ideal for an advanced trader rather than a beginner.

• Gemini offers best customer support team for any queries to contact on email as well as toll-free call support.
• Highest security measures.
• Offers cold storage.
• Telephone support with a toll-free number.
• Suitable for advanced traders.

Modes of Payment

Gemini supports local bank transfer (US Bank Account), all bank credit or debit card payments, etc.

Fees and Other Charges

Gemini charges a convenience fee of a flat 0.50%, while the transfer fees range between $0.99 to $2.99.
Our Verdict: Gemini bags the highest score for its safety features.

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6. Bitfinex

Founded in 2012 in Hong Kong, Bitfinex was one of the first crypto exchanges to deliver the finest trading experience for customers.

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Features

• Low and reasonable transaction fees.
• Supports fiat money to purchase digital assets.
• Bitfinex allows users to trade with up to 10x leverage.
• The user interface is intuitive and easy to navigate.
• Users can customize the product using API programming.

Modes of Payment

Bitfinex supports credit card/debit cards that include Visa, UnionPay, and MasterCard.

Fees and Other Charges

Our Verdict: Bitfinex is the first crypto exchange to deliver trading platform.

7. Poloniex

Poloniex is a US-based company that was founded in 2014 by Tristan D’Agosta. Its major operations are located in Delaware, USA. Poloniex supports various cryptos like Bitcoin, Ripple, Steem, Monero and Bitcoin Cash, BlackCoin, Bela, Burst, etc.

What makes Poloniex one of the best cryptocurrency exchanges is that it has a very high daily trading volume of over $100 million.

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As per the data collected from various crypto exchange reviews, Poloniex is believed to be ideal for an advanced trader rather than a beginner. The reason for this is the detailed graphs and statistics that aid in fundamental analysis of the current market price.

Features

• Poloniex trading system now allows buying crypto with fiat, bank cards, etc., unlike before.
• Ideal for the US traders.
• Low trading fees.
• Bank account verification for large trade sizes.
• Poloniex offers email support only.

Modes of Payment

Supports debit and credit card purchases only.

Fees and Other Charges

Our Verdict: Poloniex is one of the top crypto exchanges for US residents.

8. Bittrex

Bittrex was launched in 2014, which makes it one of the early crypto exchanges. The team behind Bittrex has over 50 years of experience and have known to have worked with reputed firms like Microsoft, Qualys, Amazon, etc.

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Initially, Bittrex was a crypto-to-crypto exchange only. However, users can buy cryptocurrencies using traditional currencies. Nevertheless, to avail of this option, users must verify their bank’s savings account detail.

Features

• Bittrex is one of the best crypto exchanges as it offers 250+ trading pairs. The crypto platform supports over 190 cryptocurrencies, including the popular and the lesser-known cryptos.
• To register, one enters their name, address, and date of birth, which Bittrex then verifies using Jumio service.
• Bittrex is a fast Bitcoin exchange with real-time trade execution, surpassing other platforms.
• Flat trading charges.
• Faster crypto transactions.
• Supports 250+ trading pairs.
• Bittrex offers email support only.

Modes of Payment

SEPA, wire transfer, VISA cards are some of the payment options supported.

Fees and Other Charges

Bittrex trading platform charges a standard 0.25% fee for every trade executed. When compared to the other exchange platforms, this may be considered to be high.

Our Verdict: Bittrex gets a high score for faster transactions.

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9. CEX.io

After analysing the CEX.io review – one can discover its best security features. It was founded in 2013 and is based in London, UK, and at that time, CEX.io cloud mining provider, which was owned by one of the largest mining pools, GHash. CEX.io became a crypto exchange in 2015 after the termination of its cloud mining services.

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CEX.io provides cryptocurrency storage services as well. However, we recommend users to use a secure and trusted best crypto wallet for storing cryptos.

Features

• This crypto exchange offers margin trade and verified accounts for enhanced safety. Valuable information on top cryptos is also available on the homepage.
• Supports a vast number of trading pairs.
• Easy to use, especially for a beginner.
• CEX.io offers one of the best consumer support, which is as follows:

Modes of Payment

CEX.io offers various deposit and withdrawal options, including bank transfer, PayPal, Skrill, SWIFT bank transfer, etc.

Fees and Other Charges

The fee structure is as follows:

Our Verdict: CEX.io receives the top score as an ideal platform for beginners.

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10. KuCoin

KuCoin was launched in May 2017, and since then, it has managed to acquire a user base of over 5 billion from 200+ different countries. KuCoin supports the trading of different cryptocurrencies like Bitcoin, Ethereum, etc.

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It is one of the few best crypto exchange platforms with an easy to use mobile app referred to as the KuCoin app. KuCoin is compatible with a myriad of devices like PCs, laptops, and iOS and Android smartphones. KuCoin supports spot and margin trade with 10x leverage. The site also has a dedicated section for trading futures, highlighting its ease of use.

Features

• KuCoin, like best cryptocurrency exchanges, has its currency KCS. Using KCS grants users trading fee discounts and 50% profit share from KuCoin’s trading fees.
• KuCoin supports the exchange of more than 100 different cryptocurrencies. KuCoin supports some of the popular cryptos like Bitcoin, Ethereum, and some new cryptos like Lympo, VeChain, etc.
• Easy and simple user interface.
• Ideal for beginners.
• User-friendly site.
• Low withdrawal and trading fees.

Modes of Payment

PayPal, wire transfer, and Interac e-Transfer are the options at KuCoin. The maximum transfer limit for PayPal and Interac e-Transfer is $10,000 and $3000 respectively. There is no maximum transfer limit for wire transfers.

Fees and Other Charges

KuCoin is one of the best crypto exchange platforms with low fees at 0.1% for trading crypto. Typically, users can deposit cryptocurrencies for free. However, standard transaction charges apply for initiating transfers. Readers are advised to note that crypto exchange reviews on KuCoin before 2022 indicate that KuCoin does not support fiat-to-crypto exchange or trading.

Our Verdict: KuCoin bags a high score in terms of the mobile app.

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11. OKX

The last exchange to make it to the list of the best cryptocurrency exchanges is OKX. It is yet another crypto-to-crypto and fiat-to-crypto exchange where it enables users to exchange more than 30 types of fiat or traditional currencies for cryptos. While the OKX cryptocurrency exchange is headquartered in Malta, it has offices in Hong Kong, Beijing, and Malaysia.

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Features

• OKX has high trading volumes for most currency pairs, offers cold storage for funds, and supports 400+ crypto pairs, options, futures, derivatives, and margin trading, catering to diverse trading styles.
• OKX supports margin and spot trading, as well as C2C loans where users can borrow from other users or traders.
• OKX’s native token OKB qualifies users for trading fee discounts, and the platform has a strong social media presence.
• Perpetual Swaps or Perpetual Futures is another salient feature of OKX where users can hold the trading positions for an indefinite time and close the trade whenever they seem fit.
•  Supports derivatives, options, spot trading.
• It’s compliant with the VFAA (Virtual Financial Asset Act).
• It offers C2C loans.
• Offers phone and Telegram customer support.
• OKX offers consumer support via live chat, Telegram, email, etc. They also have a very strong social media presence.

Modes of Payment

OKX offer payment method like payment gateways like Simplex, Koinal; purchases using a credit card, bank transfer, futures.

Fees and Other Charges

OKX has normal and VIP users where they are further allocated into various tiers based on their OKB holdings. Readers are advised to note that the maker/taker fee is determined by the respected tiers.

Our Verdict: OKX bags the highest score for its various trading options.

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Best Crypto Exchange: Factors to Consider While Choosing

Although crypto exchange reviews help to a certain extent, it is vital to understand the factors determining what makes them the best crypto exchanges. While the reputation of exchange matters, there are also reviews with a staff pick rating or verification for certain Bitcoin exchanges or their promotions. While staff pick rating and reference reputability standards can be used as markers, there are some basic pointers that one can consider to choosing the best crypto exchange. Also, considering skillset of the trader is important because, based on user experience, there is best crypto exchange for beginner and advanced traders, respectively. Below are some factors that can be used as markers for selecting the best crypto exchange that suits you better.

Currencies Supported: Based on your preferences, you can opt for a cryptocurrency exchange platform that supports the currencies you are interested in, whether cryptos or fiat currencies. Also, determine whether the cryptocurrency broker/exchange platform supports crypto-to-crypto, crypto-to-fiat, fiat-to-crypto transfers. Although some of the best crypto exchange sites support many cryptos, they may not support the crypto you are interested in. Hence, determining the types of cryptocurrencies and fiat or traditional currencies supported by the crypto exchange is of primary importance.

Payment Methods: Determining the payment methods for both deposits and withdrawals is the next major step. Not all crypto exchanges allow users to purchase cryptos using fiat currencies or payment system you are interested in. Hence, make sure that the cryptocurrency exchange supports your preferred payment method like bank transfer, Bank cards, payment gateways, etc. For instance, if you are looking to buy Bitcoin using your credit card, choose an exchange platform or a cryptocurrency broker that supports the same.

Hidden Charges: It is a fact that even the best Bitcoin exchanges make money via the cryptocurrency exchange rates. Nevertheless, certain crypto exchange with lowest fees also charge additional fees like inactivity fees, deposit fees, withdrawal fees, etc. Some trading platforms also charge an additional fee for options and CFD trading. Thus, understanding the fee structure is important to ensure value for your money.

Safety and Security Protocols: Safety measures enforced are the key to determine whether it is the best crypto exchange or not. Some of the elements to consider including SSL encryption, 2 Factor Authentication process, user’s ID verification, insurance related to crypto-assets, etc.

Some crypto exchanges offer insurance on crypto asset when the fault lies with the exchanges, especially the centralized crypto exchanges. Hence, considering all the safety measures provided by the exchange platform is crucial.

Customer Support: Live chat and email support are the common means of customer support offered by most crypto exchanges. While this may be true, some also offer phone support. Hence, based on your comfort level, you can determine the exchange platform that suits you in terms of communication. We recommend readers to opt for an exchange platform with a strong social media presence, where one can post their queries and concerns.

Is your Exchange a Market Maker?: Most often, certain online platforms buy and sell securities to impact the crypto market. Understanding if the exchange is a crypto market maker or otherwise will often benefit in the long run as one can profit on the bid-ask price.

Conclusion

A crypto exchange is an integral part of the crypto community, as crypto investors or traders choosing the right exchange matters. This article has covered content related to exchanges best suited for a broad spectrum of crypto investors and traders. We have also covered the important features of these exchange networks, like whether they support purchases of cryptos with debit cards, bank account transfer, digital currencies supported, etc.

FAQs

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

Crypto wallets are digital storage services used for securely storing cryptocurrencies like bitcoin in the form of private keys. On the other hand, a cryptocurrency exchange acts like an intermediary that connects bitcoin buyers and sellers. Most of the exchanges also provide crypto wallets to the users. However, some exchanges may charge a certain fee for providing crypto wallets.

Which is the best crypto exchange?

When it comes to crypto/Bitcoin exchange, no one exchange fits them all. It is because no trader is alike as they have their preferences. Thus, depending on the type of cryptocurrency exchange, easy to use trading features, and trading tools, one can determine the best crypto exchange Germany that caters to specific needs. Also, one can consider the crypto exchange’s reputation that determines its experience level in the crypto community. Some of the best crypto exchanges support various payment methods like bank transfer, PayPal, Skrill, etc. For more content concerning the individual crypto/Bitcoin exchange, readers are advised to read the various crypto exchange’s user reviews.

Is BitMEX cryptocurrency exchange banned?

Bitcoin Mercantile Exchange or BitMEX is known for high liquidity and leverage. Despite the many benefits, BitMEX is banned for the citizens of the United States. However, BitMEX is active and available for the remaining countries, except for the restricted countries. And, as BitMEX is banned in the US, residents of the United States can opt for US-specific cryptocurrency exchanges like Coinbase, Binance, Bisq, to name a few. Coinbase and Binance have a good reputation along with benefits that rival BitMEX. Readers are advised to note that the site is accessible only when an individual accesses it from an allowed IP address. If you are looking for a regulated US-based cryptocurrency exchange, we recommend GDAX or Global Digital Asset Exchange.

What are the best crypto exchanges for beginners?

The best crypto exchanges for beginners are as follows:

• Binance
• CEX.io
• KuCoin
• Coinbase
• Crypto.com

What are the most popular cryptocurrencies supported by top exchanges?

The list of well renowned cryptocurrencies supported by best exchanges are as follows:

• Kraken
• Coinbase
• Crypto.com
• Gemini