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CryptocurrencyTop 10 Bitcoin Cryptocurrency Exchanges In The World, Spot...

Top 10 Bitcoin Cryptocurrency Exchanges In The World, Spot Markets Evaluated

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Over 390 reputable cryptocurrency exchanges are available to investors, but only a few carry the trade volume, deep liquidity, and high-frequency functionality to rise above the competition. We’ll be taking you through a review of the top ten cryptocurrency exchanges, comparing all their features, fees, and available crypto assets. Our review covers the Top 10 Spot Market and Top 10 Bitcoin Derivatives Exchanges independently. Each of these premier trading platforms boasts such extensive features, industry-leading security, and extreme ease of use that their very names have become synonymous with trading cryptocurrency, and we’ll show you exactly why.

Top 10 Cryptocurrency Spot Exchanges

These top ten cryptocurrency spot market exchanges offer traders the best prices on stable coins and altcoins while presenting some of the most functional, secure trading platforms known to man.

Binance

Binance.com is the world’s leading exchange across both market trading and derivatives, boasting a 24-trade volume exceeding $79 billion on the spot exchange alone. With no less than 377 cryptocurrency coins and tokens available and a massive selection of 1359 markets to trade on, Binance has been a formidable force in investing since launching in July 2017. Cayman Islands

Pros

  • Spot Trading Fee – 0.1%
  • Instant Buy/Sell Fee – 0.5%
  • Industry Leading Low Trading Fees Further Reduced Using Binance Token
  • Broad Selection Of Stable Altcoins
  • Second Highest Spot Market Liquidity
  • Secure Asset Fund for Users Protects Against Asset Loss
  • Binance Crypto Card Available In Certain Areas

Cons

  • Only 43 States Supported For US Investors
  • High Degree Of Centralization With Binance Owning 80% Of Crypto Assets

There are so many good reasons to choose Binance.com. Binance’s already low fees drop by 25% more when traders decide to pay using Binance Coin. As regulations concerning cryptocurrencies form, Binance evolves openly welcoming regulation. Just look at the local support offered across the globe – when Binance.com is prohibited, there’s a localized version of Binance that typically works. Binance has held the number one spot for quite some time, but a lack of company headquarters and an exchange crash in May of 2021 may have deterred a significant number of traders. Only time will tell if Binance will manage to hold on to its massive trade volume.

Coinbase

coinbase

Between its security, liquidity, usability, fees, and trade volume, CoinMarketCap ranks the Coinbase Exchange as the second-best in the world. Coinbase carries a 24-hour trade volume of over $2.6 billion spread across 250 markets and 82 available cryptocurrencies. America’s top-ranking exchange headquartered in San Francisco is a global leader, holding its appeal well since its establishment in June 2012.

Pros

  • Flat Transaction Fee Ranging Between $0.99 and $2.99 (Lowered By Switching To Coinbase Pro)
  • Supremely Simple Interface Ideally Suited To Newcomers
  • Insurance Against Lost Funds In The Case Of Exchange Breach
  • Low Minimum Trade Of $2 or Equivalent Fiat Currency On Coinbase (Basic)

Cons

  • High Fees When Trading On Coinbase (Basic) Exchange
  • Coinbase Pro Enforces High Minimum Trade (0.001 BTC, 0.01 BCH, 0.01 ETH or 0.1 LTC)
  • No Telephonic Support Available

The USA’s top cryptocurrency exchange is a solid option for both short-term traders and long-term investors. After all, it has been around since three years after Bitcoin. Its public stock listing falls a little short of expectations, according to Yahoo Finance! but is still strong enough to guarantee a promising future for the giant serving more than 56 million traders. In the near future, users are expecting Coinbase to create a more efficient compliance and security review process for new crypto assets. The company also has plans to expand its DeFi while slowly but surely moving into NFTs and Dapps, according to its CEO Brian Armstrong.

Huobi Global

huobi

Houbi Global is one of the world’s most popular altcoin exchanges, ranking third with a total 24-hour trade volume of just over $3.9 billion on its spot market and over $9.6 billion in total. Traders can look forward to 329 cryptocurrencies spread across 921 markets on this Chinese exchange based in the Seychelles. Since opening in 2013, Houbi has expanded significantly and is today a publicly listed company on The Stock Exchange of Hong Kong.

Pros

  • Maker-Taker Fees – 0.2%
  • Semi-Strict KYL/AMC Policy
  • Investor Protection Fund Offers Insurance On Lost Assets
  • Attentive, Quick Customer Support
  • 98% Of All Assets In Cold Storage

Cons

  • No Support For Fiat Currencies Due To Regulatory Concerns
  • US Investors Prohibited

Trading on Huobi Global is a great experience. Investors can look forward to fairly frequent new listings and a range of events from Houbi. At the time of writing, a generous welcome bonus was offered amounting to $170 worth of cryptocurrency. There are surveys and airdrops for free coins and tokens, keeping the exchange interesting as one trades while notifying users of important happenings at the same time. Whether you’re mining, converting currency, staking, or trading, Huobi has intuitively designed services backed by outstanding customer support waiting. There’s even one of the best crypto asset listing processes in the industry for qualifying coins and tokens.

FTX

Even though FTX is a Hong Kong exchange focused on crypto derivatives, it still ranks consistently high among spot market exchanges. With a total 24-hour trade volume on the spot market of over $1.9 billion and a total daily volume exceeding $10.4 billion, FTX has certainly proven itself as a popular trading platform. FTX Trading LTD began operations in 2017 after being founded by the billionaire Sam Bankman-Fried who is also involved in the management of the quantitative crypto trading firm Alameda Research.

Pros

  • Maker-Taker Trading Fees Ranging Between 0.02%-0.07% and 0.0%-0.04%
  • Relatively Low Fees By Industry Averages
  • No KYC Required To Start Trading
  • Spot, Futures, Leveraged Tokens & OTC
  • Credit Card Crypto Purchases Available
  • Fully Regulated US Trading Platform (Money Services Business and FinCEN)

Cons

  • Complex Interface Comes With Learning Curve For Beginners
  • Investors From USA, Crimea, And Cuba Prohibited
  • KYC/AML Required For Withdrawals Over $1000

It hasn’t taken long for FTX to arise as a leading exchange. Between the extensive spot market and derivatives offered and the supremely intuitively mobile trading interface that the FTX app provides, this is an outstanding trading platform for anyone who frequently trades on their phone or tablet. The Blockfolio App recently rebranded to FTX, expanding the FTX app’s functionality. There are more currencies and NFTs than ever, which can only be a sign of the promising direction that this outstanding exchange is heading. Investors worldwide can use the app – US users are automatically connected to the right regulated exchange (FTX.US).

Kraken

Kraken was developed as a replacement for Mt. Gox in early anticipation of its close. Since July 2011, the San Francisco-based platform Kraken has risen to become the fifth-ranking cryptocurrency spot market exchange carrying a 24-hour trade volume of approximately $963 million. Traders have 71 cryptocurrencies spread across 314 markets available while trading on an exchange that arrived just two years after Bitcoin itself – a definite trust factor.

Pros

  • Trading Fees Ranging Between 0% to 0.26%
  • KYC Not Needed To Start Trading
  • Fully Regulated Exchange (FinCen & FinTRAC)
  • Order Book Not Visible (Darkbook Used)
  • Secure OTC Services
  • Fiat Currency Deposits (USD, EUR, JPY, GBP, CNY)
  • Extremely Low Trading Fees

Cons

  • Beginners May Find Interface Difficult To Grasp Initially
  • No Credit/Debit Card Cryptocurrency Purchases
  • Intermediate and Pro Accounts Require Lengthy Verification Process

Kraken is another fine exchange that welcomes regulation showing that it’s a stable and a secure option for traders in the long run. Regulated exchanges are largely preferred by long-term investors, protecting funds effectively. While there are several educational resources available, the initial trading interface of Kraken and the Kraken mobile app can be a little overwhelming to newcomers. More advanced traders will have no problem adjusting to Kraken. They can look forward to everything from futures, indices, and margin trading to an OTC market, staking, bug bounties for advanced users, and web socket support.

Bitfinex

bitfinex

Despite a bumpy road since 2012 involving early security breaches, Hong Kong-based Bitfinex has managed to reclaim its place as a trustworthy, market-leading cryptocurrency exchange. Bitfinex exhibits high growth on its average 24-hour spot market trade volume of just over $1.4 billion while offering a selection of 144 cryptocurrencies across 292 different markets. There’s also a growing number of crypto derivatives and a secure P2P trading market available.

Pros

  • Trading Fees Starting At 0.1% Maker – 0.2% Taker
  • Fiat Currency Deposits Accepted
  • Low Minimum Deposit Of Just $20
  • Spot Market & Cryptocurrency Derivatives
  • 99.5% Of All Funds Held In Cold Storage Multisignature Wallet
  • Secure OTC Trading Available
  • KYC Not Necessary To Start Trading
  • Good Track Record Of Recouping Lost Funds

Cons

  • KYC Needed For Withdrawals
  • Extensive Verification Process To Become Fully Verified
  • US Traders Prohibited
  • Known Past Security Breaches Have Occurred

With fees below industry averages and a complete range of trading functionality, Bitfinex is a reliable exchange that many favor for its lack of KYC to start trading. There’s also Bitfinex Pay as a drawcard for merchants that makes receiving payments in Bitcoin, Ethereum, or a Tether currency easy. Just keep in mind that when FTX does ask for KYC, it’s an extensive process that will require proof of all the trader’s information. Security issues have been long resolved, occurring only during the exchange’s first few years. Today, FTX is safe and secure with lots of strong listings.

KuCoin

kucoin

The Singapore-based cryptocurrency exchange KuCoin has been offering traders a broad selection of altcoin trading since September 2017. There are approximately 406 different coins and tokens available, with trading spread across a whopping 824 markets. Fondly known as “The People’s Exchange,” KuCoin makes cryptocurrency available to traders in over 200 countries.

Pros

  • Trading Fees Starting At 0.1% Maker – 0.1% Taker (Reduced To 0.08%/0.08% With KCS)
  • Tiered Trading Fee Discount Program
  • Fiat Currencies Supported (USD, CAD, VND, IDR, and CNY)
  • Massive Selection Of Altcoins
  • Frequent New Early-Stage Cryptocurrency Listings
  • Spot Market, Margin Trading & Futures
  • Ultra-Low Fees
  • KYC Not Requested To Begin Trading
  • Free Grid Trading Bot
  • Reliable Customer Service With Telephonic Support
  • User-Friendly Design

Cons

  • Trade Volume Can Dip Lower Than Competing Exchanges
  • Certain Early-Stage Listings Experience Liquidity Issues

KuCoin is an exchange that will surprise you with its low fees and broad range of trading functionality. There’s always new coins being listed on KuCoin which ensures the steady attention of countless traders. From margin trading to just about every stablecoin you can think of, KuCoin has traders covered. Furthermore, KuCoin doesn’t call for mandatory KYC. Withdrawals under 5 BTC are permitted without KYC/AML verification.

Bithumb

bithumb

Bithumb is a popular South Korean cryptocurrency exchange handling a 24-hour spot market trade volume of just over $1.1 billion. Bithumb’s 183 available cryptocurrencies are spread across 247 tradable markets. With the lowest fees in Korea, Bithumb boasts steady growth from a global audience offering excellent liquidity and a diverse spread of crypto assets successfully since 2013.

Pros

  • Average Trading Fees Starting At 0.25% Maker – 0.25% Taker
  • Spot Market, Margin, Derivatives & OTC Trading
  • Despite Not Being FCA Regulated, US Traders Permitted
  • Social Trading With Copy Trading Offered

Cons

  • Fiat Currency Deposits And Withdrawals For South Koreans Only
  • High Minimum Deposit Of $500

Bithumb is a secure, feature-rich Korean cryptocurrency exchange that unfortunately only supports Fiat currency deposits for local South Koreans. An otherwise complete range of trading features are offered.  Recent investigations into mismanagement and questionable business practices may impact its trade volume and trust in the coming future, but as of midway through 2021, the mid-July debacle hasn’t affected much. Traders can look forward to frequent new listings from Bithumb, and the platform is constantly expanding its trading capa. For example, Bithumb Cash is a virtual asset payment transfer service that makes it easy to make payments and transfer funds from anywhere, supporting everything from offline payments to SMS transfers.

Binance.US

binanceus

Binance.US uses the same rock-solid, lightning-quick infrastructure as Binance.com while offering some of the lowest fees in America, with trading across 59 cryptocurrencies spread over 115 tradable markets. The US-specific Binance platform holds its weight well in an international marketplace, processing over $570,000 in crypto assets every 24-hours on average.

Pros

  • 0.1% Spot Trading Fee
  • Same Industry-Leading Technology & Security As Binance.com
  • Lightning-Quick Order Processing (1.4 Million Orders Per Second)
  • Easy-To-Use For Beginners
  • High Liquidity For US Traders
  • Ultra-Low Trading Fees
  • Industry-Leading Customer Service Available
  • 25% Trading Fee Discount When Paying With BNB

Cons

  • 13 US States Prohibited From Trading
  • Limited Choice Of Cryptocurrencies Compared To Binance.com

Please note that residents in the following states are prohibited from using Binance.US: New York, Alaska, Alabama, Connecticut, Georgia, Florida, Hawaii, Louisiana, North Carolina, Idaho, Vermont, Washington, and Texas. For the rest of the country, traders have access to one of the most robust cryptocurrency exchanges in the world, albeit with fewer trading pairs available. The establishment of Binance U.S. as a separate entity shows Binance’s commitment to becoming one of the world’s most compliant and most heavily regulated cryptocurrency exchanges.

Gate.io

gateio

Gate.io is an exchange headquartered in George Town in the Cayman Islands that’s been in operation for a very long time. Since January 2013, Gate.io has been offering crypto derivatives and spot market trading. Today, approximately $2.4 billion in trades are processed every 24-hours, with $1.9 billion being spot market exchange trading alone.

Pros

0.2% Spot Trading Fee

  • KYC Not Necessary To Begin Trading
  • Spot, Margin, ETF, Derivatives & Futures
  • Automated Copy Trading Available
  • NFT Box Offering Creation, Sale & Purchase Of Digital Assets
  • Credit Card Purchases Of Cryptocurrency
  • Fiat Currency Purchases Supported

Cons

  • KYC Required For Withdrawal
  • Broad Trading Functionality/Features Can Be Confusing To Beginners

Gate.io boasts a rapid expansion policy that has brought about the world’s first centralized NFT trading platform called Gate.io NFT Magic Box. Between the excellent spread of crypto assets available, competitive fees, and growing selection of features, Gate.io and the GateChain mainnet are quickly becoming a formidable force in the industry. There’s a growing selection of new listings, listing voting for the community to get involved in the launch of new coins and tokens, and a complete range of cryptocurrency services like pool mining copy trading, crypto loans, and more.

The Best Cryptocurrency Exchange  – Final Word

The global cryptocurrency community largely trusts the cryptocurrency exchanges listed here. Each consistently maintains its high average trade volume, with both CoinMarketCap and CoinCodex confirming metrics. Always trade safely, keeping basic security practices like only storing the funds you’re trading with in an exchange wallet while never trading without 2FA or a secured connection. We’d recommend going for a third-party authenticator like Google Auth for even greater security. With basic precautions covered, the top ten cryptocurrency exchanges reviewed here offers something for everyone and all investment styles.

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