The Best Cryptocurrency Exchanges and Their Main Features
          

With the emergence of digital currencies, many exchange platforms have emerged that offer users the ability to convert one digital currency, such as bitcoin, into other altcoins or tokens or fiat. They have gained momentum since digital currencies took over the world.

A cryptocurrency exchange is a platform where a user can buy and sell digital currencies online. In addition to electronic currencies trading, crypto exchanges also provide the ability to store coins in wallets and receive staking rewards.

There are hundreds of exchanges now, but you can get confused in their variety. Users are looking for the best cryptocurrency exchanges to multiply their capital. Not all sites should be trusted with their own assets. At the same time, there are proven exchanges that have existed on the market for a long time and are actively developing in their direction.

Coinbase

The Coinbase exchange is a platform for trading tokens, coins, valuable assets, launched in 2012. Geographically, the Coinbase cryptocurrency exchange is located in San Francisco (USA), the site also serves as a crypto wallet.

Coinbase has official Facebook and Twitter accounts that are regularly updated to keep subscribers informed of the latest news. On Coinbase, the support team responds quickly by phone and live chat. The exchange supports seven languages.

The user-friendly interface makes working with a digital wallet extremely simple. Cold storage of coins reliably protects users' funds from the actions of intruders. Fast transactions are among the benefits of Coinbase.

Coinbase, with over 68 million identity verified customers, is also one of the leading exchanges in the world, offering services in over 100 countries.

It is a beginner-friendly platform that is simple and intuitive to use. Coinbase Pro, on the other hand, can seem very daunting as it is designed for experienced traders. Both offer meaningful training materials that are properly targeted at the target customer:

  • 23 types of coins.
  • The rates charged for all operations under $200 are as follows: $ 0.99 - $ 2.99 - for operations from $ 0 to $ 200; for over $ 200, a fixed interest rate comes into play. Its size depends on the payment method.
  • Free mobile and online wallet. The advantage of this wallet is that transactions can be made off-blockchain.
  • You can pay funds that can be deposited and withdrawn using a bank card, transfer and a range of payment systems. SEPA transfers are available for EU residents.
  • Two-factor authentication. All website traffic is encrypted using the SSL cryptographic protocol;
    All wallets keys are protected by AES-256 encryption. Only 2% of her clients' cryptocurrency funds are stored online, and they are insured in case of loss.
  • Android and iOS app.

Binance

The Binance cryptocurrency exchange is one of the first among all trading platforms, both in terms of real trading volume and the number of active users. It features rich functionality and a good level of security. In addition to trading, it makes it possible to earn crypto in other ways - staking, landing, IEO, futures trading.

The number of cryptocurrency assets exceeds 185, and trading pairs - 599. Among them are popular and rare coins and tokens; there are all top currencies with the maximum capitalization. This allows users to have more freedom of action and make the most profitable deals at the moment.

The site also has its own BNB token - with its help, you can reduce the cost of commissions and get other benefits.

On the site, you can use the possibility of margin trading - to make transactions with funds provided by the exchange in the form of a loan at a certain percentage. Unverified clients can trade with leverage:

  • 740 different crypto and fiat pairs, including own token BNB.
  • Binance offers competitive trading fees (commissions): 0.1% on each side of the trade, or 0.075% if you are using your Binance tokens (BNB).
  • Trust Wallet mobile application.
  • Bank transfer, debit/credit cards, various P2P payment channels.
  • The exchange launched CryptoSafe Alliance (CSA). This initiative will bring together exchanges, blockchain protocols, cybersecurity experts, and regulatory compliance companies. It is the first comprehensive threat monitoring and protection tool in a decentralized data exchange environment.
  • A free app is available in Google Play Store or the App Store.

Kraken

Kraken cryptocurrency exchange was created back in 2011 by Jesse Powell, one of the first bitcoin enthusiasts, as an alternative to the (now closed) Mt.Gox exchange.

Kraken is one of the few major exchanges that has an impeccable reputation for security, and was the first crypto-platform to introduce a Proof-of-Reserves system that cryptographically verifies that exchange users' balances match those in Kraken wallets.

In general, Kraken focuses on traders who trade top cryptocurrency assets and is not suitable for those who are “looking for X's” among tokens and little-known projects. The limited choice of digital assets and the need for verification may alienate some traders. Traders wishing to increase their income from buying and selling cryptocurrency can take advantage of the so-called "leverage":

  • 8 tokens are available for.
  • Transactions under 50,000 units of a particular currency are subject to a commission of 0.16% for the seller and 0.26% for the buyer. For sums over 50,000 units, commissions are reduced to 0.14% and 0.24% respectively.
  • No crypto wallet is offered on the site.
  • Crypto wallets and money transfers via bank transfer. Deposit/withdrawal via bank cards is not available.
  • The exchange offers users two-factor authentication, PGP encryption, and global settings lock, which prevents any account changes within a certain period of time.
  • Kraken Pro and Kraken Futures applications.

Bittrex

Bittrex is an exchange that was founded in 2014. Initially, the Bittrex platform worked as a service for exchanging various currencies, but now it is one of the largest crypto projects where you can trade almost any famous cryptocurrency in the world.

Bittrex has one of the most stringent security measures you'll come across, let alone two-factor authentication. The Bittrex exchange is available worldwide. However, it should be mentioned here that each country has its own requirements for the user verification and verification process.

The Bittrex platform toolkit for convenient work with cryptocurrency is an order of magnitude superior to most of its counterparts. It is one of the safest and most feature rich applications you can find today. Unfortunately, the exchange is not yet available for many languages, but this does not prevent it from gaining great popularity among crypto investors from all over the world:

  • 250+ trading pairs are available.
  • Topping up your euro account is available via SEPA credit transfer, international bank transfer, bank card. Fiat funds withdrawal is possible to a bank account using an international bank transfer, and for euros, a SEPA credit transfer is supported. The withdrawal commission depends on the chosen currency: in bitcoin, it is 0.0005 BTC, in Ethereum - 0.00600000 ETH. The site has a fixed trading fee of 0.25% of the total value of the order.
  • No crypto wallet.
  • Bank transfers, credit/debit cards.
  • Two-factor authentication (2FA), IP check, which requires an email confirmation of entry from a new IP-address, IP whitelists, Cold storage for 80%-90% assets.
  • There are two apps for Android and iOS respectively: Bittrex Global and Bittrex.

BitMex 

Bitmex is an unusual and very popular exchange. Even if you have experience working with cryptocurrency exchanges, still get ready for the fact that with Bitmex a lot will be new.

The Bitmex platform was founded by professionals with many years of experience in the field of finance, who do not hide their faces and present information about themselves on the exchange website. The exchange received official registration in an offshore zone - in the Seychelles, the main office of the company is localized in Hong Kong. The organizers of Bitmex position the site as an exchange for professionals, in general, the way it is - it will not be easy for a beginner to understand its intricacies. But it's still worth a try, because the exchange has a number of advantages.

It has all the necessary tools not only for buying and selling cryptocurrencies, but also for speculation and investment.

Bitmex's interface is simple and user-friendly. From the main page, you can not only register, but also go directly to the platform for a more thorough study of it before opening a trading account:

  • 55 trading pairs.
  • BitMEX does not charge any fees for deposits or withdrawals. When withdrawing BTC, a minimum Bitcoin Network commission is applied; commissions for takers are 0.075% of the total order value, while makers are paid an additional 0.025% for each trade.
  • Crypto BitMEX wallet.
  • Beyond virtual currencies, BitMEX does not accept any other deposits.
  • Funds are stored in cold wallets; Two-factor authentication; Registration via SMS notifications; Multi-signature wallets for transactions; Email communications are encrypted using PGP encryption.
  • BitMEX Mobile launched in September 2020.

Bitfinex is a major exchange owned by Hong Kong-based iFinex Inc. The exchange ranks among the largest players in the cryptocurrency trading market, with daily trading volume in excess of $1.6 billion. The founders initially viewed the platform solely as a Bitcoin platform for P2P margin financing. Over time, the concept was revised in favour of expanding the number of currencies traded.

Bitfinex offers a personalized trading terminal. You can customize the look of the interface to your liking. The exchange is focused on the world market, which means that a fairly large number of languages ​​are supported. Previously, the Bitfinex platform had security problems, but the management resolved this issue by strengthening the protection of the Bitfinex platform. Now, the exchange provides a fairly high level of security, which has dramatically increased the popularity of the platform.

Unlike many competitors, Bitfinex has fixed deposit fees. Moreover, if you work with cryptocurrency, then there is no commission at all.

  • Over 140 coins and 300 trading pairs.
  • No additional payments for deposits and withdrawals in digital coins. When you deposit USD, you will have to pay a commission of 0.1%, but not less than $ 20;Minimum fee for withdrawing fiat money is $ 60; With the minimum currency turnover per month, the trading fee is 0.1% for the maker and 0.2% for the taker.
  • Users are offered three wallets to choose from - Exchange Wallet, Margin Wallet, and Financing Wallet.
  • In addition to digital currencies, bank transfers and card withdrawals are available to users.
  • Only 0.5% of crypto assets are kept online to support daily transactions. The rest of the coins are kept in cold wallets out of the reach of hackers. For these wallets to become available, manual authorization of several members of the management team is required.

Localbitcoins

LocalBitcoins appeared in 2012 and managed to gain popularity in a short time. Today, the company operates in more than 200 countries around the world. It does not position itself as an intermediary, but acts as a P2P service. That is. bidders interact directly with each other. More than 100 fiat currencies can be used to trade bitcoins on LocalBitcoins. It provides an escrow option to protect trades. Its essence lies in the fact that after the start of trading, the declared amount of digital coins is sent to the site's reserve. Therefore, buyers can be calm about the money transferred, even if the seller does not answer.

Many agree that it is one of the biggest cryptocurrency exchanges, as it serves citizens from over 200 countries.

Immediately after authorization on the main page of the site, the system will select several offers for the purchase of bitcoins online and offline, created by other users. Accordingly, the "Quick Buy" tab will be active:

  • The service does not charge a commission from the buyer.  For sellers, there is a set commission of 1% on each sale.
  • Bank transfers, banking cards, electronic systems.
  • The security of the transaction is ensured by the escrow method, which has proven to be highly effective; User accounts are protected by two-factor authentication.

Poloniex 

In the modern world, the number of cryptocurrency exchanges is growing every day, and sometimes it is difficult for traders to decide which platform to use for their activities. Poloniex is one of the oldest cryptocurrencies on the market. It was created in the United States of America in 2014, when cryptocurrencies were just gaining popularity.

The site is characterized by transparency of transactions, open support, a high degree of security and an extremely user-friendly interface, which definitely attracts newcomers.

Please note: the verification procedure is required on Poloniex. This does not mean standard 2-FA (two-factor authentication), but a full-fledged check with the sending of their documents to the administration of the service. For this reason, it is impossible to trade anonymously.

Poloniex employees regularly post information about the latest important changes either on their official resource, built into the support site, or on their twitter. Both links are available at the very bottom of the page in the News block:

  • 100+ currency pairs.
  • All deposits are allowed without any additional charges; The withdrawal fee is fixed, and it depends on the type of the currency; commissions are from 0 to 0.25%. Maker commission is from 0% to 0.15%; taker commission is from 0.1% to 0.25%. The higher is the volume of completed transactions in one month, the lower is the commission for all subsequently completed transactions.
  • Own Wallet.
  • Replenishment of an account with a bank card or withdrawal to a card are not available for users of some countries.
  • The administration highly recommends adding two-factor authentication to your account.
  • Mobile application.

Kucoin

KuCoin has a reputation for being one of the most successful and has a high customer focus. This is the Hong Kong cryptocurrency exchange that entered the market in 2017. This is one of the few young projects that quickly gained popularity of a large number of users. Users refer to it as the best cryptocurrency exchange.

The exchange has its own KuCoin Share (KCS) token, which is in the TOP 50 cryptocurrency ratings. Using the internal KuCoin token, users receive discounts on commissions, as well as additional bonuses simply for keeping it on the balance sheet.

On the site, you can find both top cryptocurrencies and young projects. In total, more than 400 currency pairs are represented on KuCoin. The exchange website has been translated into 12 languages. Due regard is also paid to data security. KuCoin has a multi-layered security system. Client assets are stored on cold servers and transactions are confirmed separately, in a special way:

  • 200+ coins and 450+ trading pairs.
  • All deposits are free on the site, and there is a fixed fee for withdrawals; KuCoin offers a flat commission of 0.10%, which is less than the industry average.
  • Inner site crypto wallet.
  • A variety of payment methods supported by P2P fiat services.
  • The exchange offers you the option to set up two-factor authentication by Google Authenticator.
  • Mobile application .

Bitpanda

Bitpanda is a European cryptocurrency exchange offering secure access to buying and selling cryptocurrencies at any time of the day. The platform has existed since 2014 and during this time has gained a reputation as a reliable exchange. BitPanda is registered in Austria. The exchange is completely open and does not hide information about the licence and the team, so many people trust it.

The limits for buying and selling cryptocurrencies depend on the level of verification. There are four of them: initial, bronze, silver (tested) and gold. Full verification consists of two stages.

Let's start this part of our Bitpanda exchange review with the fact that the described site is, rather, an exchanger, and not a full-fledged crypto exchange. This can be explained by the fact that the site lacks analytical tools (charts, charts), currency pairs, margin trading, etc:

  • Bitcoin, Ethereum and 30+ digital assets.
  • The trading commission of the service depends on the type of currency and the nature of the transaction. When buying bitcoins, you pay 1.49%, when selling - 1.29%.
  • Commission for replenishment and withdrawal is fixed for each coin and is debited from the account.
  • Bitpanda crypto wallet.
  • You can make a deposit either by bank transfer, credit cards or electronic payment systems.
  • Bitpanda refers to systems that independently manage user wallet keys. Besides, the following security measures are offered: fund cold storage session control. Every login attempt from a new device requires two-factor authentication confirmation, authentication and validation via email.

Coinmama

Coinmama started its work back in 2013. The platform is available in 226 countries and most of the states of America. This makes it one of the simplest and most common options among similar services.

The service began its work back in 2013 and since then has been offering services for purchasing the two most popular currencies for fiat money from a bank card.

The platform does not have a built-in wallet, and the purchased assets are transferred to the address specified by the user. This really makes the project more secure, because in the event of a hack, users' funds will not suffer.

There is no translation site interface and is available only in English. The site itself is very high quality and has a beautiful animated design.

Recently there was information that the developers are planning to update the functionality of the exchange. Users will be given the opportunity to sell cryptocurrency. The site contains a section with a blog, where you can find all the news about the exchanger's work. It is there that information about adding the exchange functionality should appear:

  • The website sells Bitcoin, Ethereum. Litecoin, Bitcoin Cash, Qtum, Ripple, Ethereum Classic, Cardano, Tezos and EOS.
  • The use of credit or debit cards implies a service charge of 5%. Besides, the charges 3.90% for buying coins and 0.9% for selling these.
  • No Wallet.
  • Credit/debit cards and bank transfers; It supports SEPA and SWIFT payments.
  • Coinmama is a reputable company with a secure site using Trust Guard and Comodo technologies. Both services have confirmed that 256-bit SSL encryption is actively used on pages containing personal information.
  • Mobile app.

Paxful

Paxful is an international P2P marketplace for buying and selling bitcoins, launched in 2014 by Estonian and American entrepreneurs. Paxful's main goal is to enable anyone who wants to buy Bitcoin quickly, transparently and securely. In other words, Paxful is a p2p cryptocurrency exchange, that is, the exchange on it takes place without intermediaries, directly from one participant to another by mutual agreement.

Interestingly, a Paxful user can add a payment method on his own, which is not presented on the platform.

In its five years of operation, Paxful has become one of the leading peer-to-peer bitcoin trading markets, with millions of people around the world using it. Paxful has a great support team. If you have any questions about storing, buying or selling bitcoin, the operators will answer them as soon as possible.

To create an account, you need to confirm your email address and phone number, this is a conditionally basic verification that allows you to operate with an amount of up to $1000. The USDT wallet is not available:

  • Bitcoin and Tether as assets.
  • Commissions are applied for crypto selling:0.5% for bank transfers; 1% for bank cards and e-payments; 3-5% for gift cards; No commission is charged for buying cybercurrencies; Paxful will charge a transfer fee for sending funds to an external wallet. $ 0 - $ 9.99 = 0.0001 BTC$ 10 - $ 19.99 = 0.0002 BTC;More than $ 20 = 0.0005 BTC.
  • The Paxful Wallet App makes it easy to store and manage coins with your mobile wallet.
  • More than 300 ways to buy coins, including bank transfer, credit and debit cards, PayPal, Western Union, and even Amazon, iTunes or Steam gift cards.
  • The security of the system is ensured by two-factor authentication, depositing and the obligatory verification procedure when working with large amounts.
  • Paxful Wallet for Android and iOS.

HitBTC

HitBTC is a popular trading platform where you can exchange, buy or sell cryptocurrency at the current market rate. The exchange attracts traders from the USA, Europe and Asia with minimum requirements to get started, low commission fees and a constantly growing list of currencies.

A large selection of trading instruments, high liquidity of popular markets, a good reputation earned over the years, new technologies for selecting matches for instant order execution, and much more attract users.

The English-language interface does not make it difficult to work - navigation through the site is convenient and intuitive. Distinctive features of the site are the absence of mandatory verification and limits on replenishment and withdrawal of assets from the account. The high level of security of HitBTC guarantees the safety of users' funds and personal information:

  • 800 currency pairs.
  • No commissions for deposits and a fixed commission for withdrawals depending on the coin; HitBTC uses a multi-level trading fee calculation system. The more a user trades, the lower his commission will be.
  • No crypto wallet.
  • The HitBTC exchange can be replenished exclusively with digital currency.
  • The platform provides 2-factor authentication, high-end encryption technology and cold storage of funds.
  • No application.

Security, liquidity, commissions, history, markets, and user experience are the very points to watch out for. Of course, this article is a brief overview, and you need to choose the platform you like and learn more about it on the site or read reviews. But this review will help you navigate, good luck!

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