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Best Cryptocurrency Exchange Trading Platforms
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What Is A Cryptocurrency Exchange?
After reviewing and comparing over 35 of the most well-known crypto exchanges by industry professionals, we’ve compiled an updated list of the best cryptocurrency exchanges to buy, sell & trade crypto assets & contracts.
Whether you are looking for the best cryptocurrency exchange platform, purchasing your first ever cryptocurrency, or looking to diversify your coin portfolio, you need a list of the top exchanges.
Definition: A cryptocurrency exchange platform is an online website that supports the buying, selling and/or trading of cryptocurrency assets or contracts.
Even though more than 500 cryptocurrency exchange platforms exist to date, not all of them are trustworthy, not all of them provide fair fees, and not all of them safely secure your transactions. Many exchanges market themselves as the world’s No1 crypto exchange but that’s not always the case. An exchange might work great for an experienced trader because it offers advanced trading features, but be a horrible buying experience for a beginner exploring the world of crypto.
In reality, a lot of factors have to be considered in rating these exchanges. An inexperienced trader would expect it to be simple and user-friendly, so that it will take less time to create an account and start trading immediately.
On the other hand, a professional trader seeks cryptocurrency exchanges that offer advanced trading tools, high trading limits and chart analysis. Expectations vary depending on the nature of the trader however, certain features are sought after by both novices as well as professional traders.
A Cryptocurrency exchange that offers the following is highly desirable:
- Built-in Wallets
- Low trading fees
- High security
- Good customer support
- Multiple payment options
- FIAT deposits & withdrawals
- Large availability of cryptocurrencies & trading pairs
In this article, we have compiled a list of some of the best cryptocurrency exchanges which have succeeded in gaining the trust of novice and professional traders alike. The ranking of these exchanges might vary depending on your needs. Hence, we opted to include a short summary on each, however, we highly recommend that you check out our exchange reviews to learn more in-depth about each platform.
Moreover, you can use our advanced filtering system to customize the results according to your preferred deposit method, country and desired features. Our system will calculate all the ins and outs and the exchange presented on top will most likely be the best crypto trading exchange for you.
Definition: FIAT refers to any currency whose value is backed up by the government. This includes currencies like Euro, USD, GBP, AUD, and similar currencies.
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While we do our best to update this article with accurate data, there might be slight changes from the time of writing. We always recommend you to perform your own research and to use this portal for research purposes only and not as a piece of investment advice.
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eToro is a regulated multi-asset trading platform that offers asset & CFD trading in stocks, commodities, cryptocurrencies, forex, ETFs, and indices. With its offices in multiple locations, it provides its services to the residents of more than 140 countries worldwide. eToro Europe Ltd is regulated and authorised by the CySEC (Cyprus Securities Exchange Commission) while its other subsidiaries are regulated in all jurisdictions where they operate.
eToro offers a diversified portfolio of financial assets on its trading platform. It offers real asset trading for the most popular cryptocurrencies including Bitcoin, Ethereum, Ripple, Litecoin, EOS, Binance Coin, Stellar, Cardano and 10 more. It supports multiple fiat payment options like bank transfer, credit/debit cards and electronic wallets (PayPal / Skrill).
The trading platform is simple to use, user-friendly and is available in 20 different languages, including Spanish, German, Italian, Portuguese. Moreover, the platform also has a mobile app for both iOS and Android users for trading on the go. eToro offers a multi-signature mobile wallet for its members to securely store their assets.
eToro follows a strict registration process and doesn’t allow users to start trading without having verified their identity. Even though eToro doesn’t provide advanced security measures, it offers basic features like two-factor authentication to protect customers’ funds. The platform is deemed secure and has never been the victim of significant cyber attacks.
With its Social Trading technology called OpenBook, it allows users to follow or copy trading positions of other members on the platform. As for fees, it doesn’t charge any commission for every trade, which is definitely an advantage. However, it does charge other types of fees which include spread, overnight funding and withdrawal fees.
Plus500 is a regulated CFD trading platform, which offers the investors the opportunity to trade in shares, commodities, cryptocurrencies, ETFs and options. It is owned and operated by Plus500CY Ltd, which is authorised and regulated by CySEC (Cyprus Securities and Exchange Commission). Plus500CY Ltd is a subsidiary of Plus500 Ltd, which is listed on the London Stock Exchange. The platform provides Client Money Protection by holding clients’ funds in segregated bank accounts. In accordance with the UK Financial Conduct Authority’s client money protection rules, Plus500 doesn’t use clients’ funds for hedging or other kinds of investment purposes.
Plus500 offers a portfolio of more than 2000 instruments on its trading platform. It offers CFD trading for the most popular cryptocurrencies including Bitcoin, Ethereum and Litecoin. It supports multiple fiat payment options like bank transfer, credit/debit cards and electronic wallets (PayPal / Skrill). Plus500 is available to residents in more than 50 countries worldwide including the EU, UK, Australia, Canada. Additionally, the trading platform is available in 30 different languages including Spanish, German, Italian, Portuguese. Moreover, their mobile app for both iOS and Android users offers CFDs trading on the go.
Plus500 follows a strict registration process and doesn’t allow users to start trading without verifying their identity. Hence, users must provide all the required documents in order to start trading. Even though Plus500 doesn’t provide advanced security measures, it offers basic features like two-factor authentication to protect customers’ funds. As for fees, it doesn’t charge any commission for every trade, which is definitely an advantage.
ChangeNOW is an instant cryptocurrency exchange that aims to provide a transparent, reliable and user-friendly platform, to quickly swap cryptocurrencies without any limits. By partnering with leading exchanges like Binance, Bitfinex, and Bittrex, ChangeNOW aims to provide the most profitable exchange rates for its users. The user interface of ChangeNOW is very simple so that a novice trader can exchange any crypto within few minutes.
As a non-custodial service, ChangeNOW doesn’t control users’ digital assets by storing them on its wallet. Since the exchange is registration-free, users need not provide an email address, phone number or other kinds of personal information in order to exchange cryptos. In short, ChangeNOW neither stores the users’ personal information nor their digital assets. However, if a transaction is suspicious, the exchange might request users to provide identity documents based on the KYC procedure followed in their geographical location.
Moreover, ChangeNOW has listed more than 170+ cryptocurrencies on its exchange, including a large number of Ethereum based ERC20 tokens. In addition to providing better exchange rates, this exchange also processes all its transactions very quickly within 2 to 40 minutes.
Fortunately, ChangeNOW has recently updated its services to support fiat payment methods to buy cryptos. Since it doesn’t provide an integrated wallet, deposit/withdrawal fee is not applicable. Besides the network fee which is applicable for all blockchain transactions, ChangeNOW charges a nominal fee (0.5%-1.5%) to swap cryptos. Overall, ChangeNOW is a great exchange to quickly swap cryptos without any limits.
Coinbase is a US-based cryptocurrency broker which offers its services around the world. Owned and operated by Coinbase Inc., the exchange is registered with MSB with FinCEN, and is fully licensed to make money-based transactions, not only in the UK, EU and US, but also in other countries around the world. Coinbase has also received an eMoney License from the FCA (Financial Conduct Authority) in the UK.
The exchange offers a seamless and user-friendly solution for novice users eager to buy, sell, or trade cryptocurrencies. Offering a selection of digital tokens, Coinbase implements a transparent fee structure whilst offering a variety of payment methods. After having verified your account, you can buy Bitcoin and Altcoins with Coinbase in seconds using a debit or credit card.
The Coinbase platform is just one of several cryptocurrency operations managed by Coinbase Inc. Coinbase Pro and Coinbase Wallet are also owned by the same company, making it one of the largest cryptocurrency organisation in the world. Its size comes with several advantages, such as being one of only a few exchanges to insurance user funds against theft.
IQ Option is a popular multi-asset trading platform which offers CFD trading in stocks, options, commodities, cryptocurrencies, forex, ETFs, and indices. It provides its services to residents of over 150 countries worldwide (including countries within the EU and UK). The trading platform is regulated by CySEC to operate in EU whereas, for other jurisdictions, it adheres to the local rules and regulations.
IQ Option offers a diversified portfolio of financial assets on its trading platform. It offers CFD trading for the most popular cryptocurrencies including Bitcoin, Ethereum, Ripple, Litecoin and 6 more. It supports multiple fiat payment options like credit/debit cards, Web Money and electronic wallets (Neteller/Skrill).
The trading platform is simple, user-friendly and is available in 10+ different languages including Spanish, German, Italian, Portuguese. Moreover, CFD trading platform also has a mobile app for both iOS and Android users who prefer trading on the go. IQ Option offers a multi-signature mobile wallet for its members to securely store their assets.
IQ Option follows a strict registration process and doesn’t allow users to start trading without verifying their phone number and email. For withdrawing funds, users must complete the verification process which includes uploading copies of documents related to identity and payment. Even though IQ Option doesn’t provide advanced security measures, it offers basic features like two-factor authentication to protect customers’ funds.
As for fees, it doesn’t charge any commission for every trade, which is definitely an advantage. However, it does charge other types of fees which include spread, overnight funding, withdrawal and maintenance/custodial fees. In addition to this, it charges a monthly inactivity fee.
Originally launched in China, Binance moved to Malta in 2020. It is considered to be the world’s largest crypto asset exchange by trading volume, and although the exchange was launched only in 2020, it’s managed to gain the trust of millions of investors, quickly becoming a top contender within the cryptocurrency exchange world.
Today, Binance offers a suite of cryptocurrency-based services. Its brokerage platform remains its most popular, allowing users to trade a massive selection of digital coins whilst also being able to buy or sell select currencies using a debit or credit card. Alongside this service, Binance offers advanced trading opportunities which include futures trading, margin trading, and staking.
With some of the lowest trading fees in the industry, combined with a user-friendly interface, Binance offers several great benefits to both novice and experienced traders. Supporting these users is a multi-lingual customer support team, available 24/7, combined with a Help Centre and the Binance Academy.
Thanks to the extra security steps, like anti-phishing code, PCI Scanning, Secured Sockets Layered encryption technology, pseudonymisation, internal data access restrictions (amongst others) it’s really no wonder why it’s considered a trustworthy exchange. Such precautionary safety features aim to protect the customer’s funds as well as personal information from unauthorized personnel, further putting their client’s mind at rest.
Launched in 2020, CEX.io is a multifunctional cryptocurrency exchange, headquartered in London. The exchange is fully licensed to offer monetary-based transactions since it is registered as an MSB (Money Service Business) with FinCEN. Moreover, CEX.io is registered with the non-departmental public body ICO (Information Commissioner’s Office) in the UK.
Providing advanced trading options to the more experienced traders, CEX.io is popular whether you are a seasoned or novice trader. It offers a dedicated brokerage service for newbies and an advanced platform with lower fees for professionals. Perhaps one of the greatest features of the platform is its accessibility, which allows customers to instantly purchase cryptocurrencies using their credit card.
This detailed overview of CEX.io evaluates several aspects of the platform so as to provide you with an objective summary of both the exchange itself as well as the services it offers. While Cryptimi does its utmost to present you with accurate and relevant information, we still advise you to visit CEX.io for any updates that might be available once this text is published.
BitMEX is a futures trading platform which allows its users to buy future and perpetual contracts. And while the trading interface of BitMEX is simple, it isn’t a popular choice among novice traders, as it only offers advanced trading options like margin trading with 100x leverage. Therefore if you’re a newbie, this exchange is probably not best for you.
However, if you’ve got trading experience, BitMEX gives you access to a variety of futures, including perpetual contracts, which never end. The platform offers competitive trading fees with no deposit or withdrawal charges. Bitcoin is the only supported currency for payments, but the exchange allows you to buy a variety of altcoins.
BitMEX boasts of its highly secure platform, and rightly so. Never successfully hacked, the exchange runs 100 audits every second and protects user funds by storing them in cold storage devices. All sensitive processes, such as withdrawals, are carried out by two or more employees, and users can opt for a variety of additional security features, such as 2FA.
Trading on BitMEX is fast and convenient, with a sleek and intuitive trading platform. The platform offers detailed currency and currency pair charts, along with several tools for analysis. When placing an order, BitMEX allows you to set several limits in order to protect your investment and manage your risk. All this makes the exchange an ideal solution for trading cryptocurrency contracts.
Considered to be one of the most trustworthy cryptocurrency exchanges available the EU, Bitpanda allows users to buy, sell and trade cryptocurrencies using 4 fiat currencies. Despite the fact that Bitpanda is not compliant with any regulatory standards, it has built a solid reputation amongst its users, having gained the trust of close to 1 million users.
Bitpanda takes its user security very seriously. It stores the majority of funds onto offline cold storage devices, protecting them from cyberattacks and other potential hazards. In line with industry standards, it offers two-factor authentication (2FA) to protect users’ accounts from unauthorised access. What’s more, Bitpanda provides DDOS protection and SSL encryption. If users decide to amend personal details or 2FA, Bitpanda might contact them personally in order to verify such changes.
Bitpanda directly supplies coins to users, since it is a brokerage service, so you won’t need to interact with other traders when it comes to exchanging cryptocurrencies. Bitpanda even offers an integrated, multi-currency web wallet for its customers to temporarily store their digital assets. Using the platform is easy, and ideal for novice traders. However, with Bitpanda Plus, even experienced traders placing high-value transactions are catered to.
Do You Need Exchanges To Trade Cryptocurrency?
Yes, you do. Both novices as well as professional traders are buying Bitcoins or other altcoins from cryptocurrency brokers and exchanges. Even though there are few additional options like Bitcoin ATMs to buy cryptocurrencies, these are only available at limited locations which makes them inconvenient.
The best exchanges provide a lot of features like flexible payment options, ease of use, variety of cryptocurrencies, storage wallets and more. If you’re a beginner looking for your first crypto exchange to deposit funds in, look for the following traits:
- Built-in Wallet – This will allow you to buy and store crypto within the exchange platform. Consider the wallet acting as a bank within the trading platform.
- Credit/Debit Card or Bank Transfer Deposit Methods – Choose whichever method you prefer working with. Usually, bank transfers come with lower fees.
- The exchange has most if not all the cryptocurrencies you’d like to own or trade.
It’s important to note that certain exchanges have geographical restrictions based on government regulations and operational licenses. The most restricted area is the US, so if you’re a US resident make sure you tick our ‘USA’ filtering option. On the other hand, residents of UK, Germany & the EU have lower restrictions.
Crypto Exchange Types
Cryptocurrency exchanges come in two main varieties. Centralized exchanges (CEX) and decentralized exchanges (DEX). CEX (Centralized Exchanges) act as a middleman between the buyer and seller for trading cryptocurrencies. Therefore when trading on a CEX, your funds are held by a third party company.
In the case of DEX (Decentralised exchange), the concept of intermediary is eliminated as it directly connects the buyers and sellers via the blockchain.
A DEX is technically more secure, however, they have their drawbacks of low liquidity, low popularity and slow platform updates. To date, centralized exchanges are the goto exchanges, however, the crypto community is working on several DEXs to try to solve their drawbacks. The best crypto exchanges can be classified under the following categories:
Generally, a trading platform is a website that connects buyers and sellers and then deducts a fee for every transaction. Apart from buying Bitcoins/altcoins using FIAT currencies, trading platforms may also allow you to trade two cryptocurrencies against each other.
A crypto trading platform can be considered as a stock exchange. BitMex is an example of a trading platform which, however, does not support FIAT. Nonetheless, BitMex offers advanced margin trading tools, ideal for serious traders.
Other types of trading platforms are what are known as atomic swaps. Atomic swaps are smart contract technology that enables the exchange to communicate between several cryptocurrency blockchains, allowing the user to trade 1 cryptocurrency with hundreds, if not thousands, of other cryptocurrencies. You may check out Changelly and ChangeNOW to better understand how these trading platforms look and feel.
Peer to Peer Exchanges
A P2P (Peer to Peer) exchange does the job of a matchmaker. That is, it connects the sellers and potential buyers. In a P2P exchange, the price of the cryptocurrency and payment option will be agreed between the buyer and the seller. The P2P platform is not directly involved in the transaction between the seller and the buyer. LocalBitcoins.com is the best example of a P2P exchange.
Brokers are company websites that purchase a sufficient supply of the cryptocurrencies and then sell them at their own price. It can be visualized as one high net worth seller with multiple buyers. Coinbase is an example of a cryptocurrency broker. Typically, all brokers allow the buying and selling of crypto using FIAT money.
Crypto CFD Brokers
Granted, whenever you’re buying a crypto CFD you are not the owner of the cryptocurrency asset, but you are the owner of a contract between you and the CFD broker. However, trading crypto CFDs is becoming increasingly popular with investors and speculators as they can benefit from the volatile price movements of cryptocurrency, without the hassle of security & wallets. But perhaps the biggest advantage of using crypto CFD brokers is that you can make a profit out of crypto even when the cryptocurrency price is going down. To learn more about this topic visit our trading crypto CFDs guide.
Choosing The Best Cryptocurrency Exchange
Here is how we recommend you to choose your most favorite exchange or broker.
Instead of sticking to one particular exchange, try to make a list of at least 3 of the best cryptocurrency exchanges which you really like, and analyze their reviews with respect to the below-mentioned factors before making the final decision. You can create a table and give points to the exchanges with respect to all factors. The exchange with maximum points will be your winner.
Some cryptocurrency exchanges will not accept fiat currencies. Fiat currencies are your typical government-controlled currency like EUR, GBP & USD. If the exchange platform does not support the purchase of Bitcoin or any other cryptocurrency using Fiat, then it means you will not be able to use your debit/credit card to buy crypto. Hence, you will be forced to buy Bitcoins from another FIAT to Crypto exchange and then send them over to the other exchange to start your cryptocurrency trading. If the exchange platform supports multiple payment options like PayPal, Wire transfer, debit/credit cards, SEPA & Crypto Deposits then it will be easier to trade and cash out.
- To buy cryptocurrency with a debit/credit card visit our ‘Best Fiat To Crypto Exchanges‘ page
- To swap and trade your Bitcoins for altcoins visit our ‘Best Altcoin Exchanges‘ page
If the exchange platform supports multiple payment options like PayPal, Wire transfer, debit/credit cards, SEPA & Crypto Deposits then it will be easier to trade and cash out. If not, you will have to transfer your funds from one exchange to another.
Long-term crypto investors will be more interested in trading pairs. Trading pairs refer to trades between two different types of cryptocurrencies. A trading pair would look like
- EUR/BTC (Trading Euro to Bitcoin or vice-versa)
- BTC/ETH (Trading Bitcoin to Ethereum or vice-versa)
There are 1000s of trading pairs but not all exchanges support the same pairs. It is important to keep in mind that a trading pair BTC/ETH on Binance is not exactly the same as the trading pair BTC/ETH on Bitmex. Every exchange has its own market for every pair that it supports. If you are an experienced trader who would like to diversify his coin portfolio, then look for the best cryptocurrency exchanges which support a lot of trading pairs and high liquidity.
If you are serious about cryptocurrencies and would like to be a long-term trader, then you should select the best cryptocurrency exchanges with low fees. If you do so, you will save a lot of money from trading fees. The best option would be to try out exchanges that offer zero fees to deposit/withdraw funds on your account. Some exchanges will charge a flat trading fee while others may follow the Maker-Taker model.
Also, find out the trading fee for your preferred payment method. For example, let’s assume that you are planning to buy the cryptocurrencies using a credit card. If the exchange deducts 5% or 7% as a fee apart from the credit card fee, then it will not be profitable for you.
Reputation & Trust
Try to find out the approximate launching date of the exchange or go through our exchange platform reviews. An old exchange will most likely have a good reputation when compared with a new one. Check whether the cryptocurrency exchange is officially registered and whether it has a license as well. You may search on the internet to find out whether the exchange has been involved in any kind of scams or hacks. Visit the contact page of the exchange’s website and find out if it has a physical address. PO Box address is not accepted and considered as a red flag.
Security is a feature you need to take seriously before depositing any funds as your investment might be at risk. The majority of the cryptocurrency exchanges offer 2FA (Two Factor Authentication) protection for your account. This means, whenever you are making any transaction, you need to enter the security code received on your phone or authenticator app. Only then, your transaction will be processed. Security features include:
- 2 Factor Authentication
- KYC & AML procedures
- IP protection
- Cold storage
- Anti-phishing procedures
A few exchanges provide IP based protection so that you will receive a warning if a login is made from an unauthorized device. The best exchange is one that provides the utmost protection for your account and transactions.
Since cryptocurrency investments are unregulated in certain countries you need to find out whether the cryptocurrency exchange you have chosen is available in your country or not.
Any crypto exchange should have a dedicated customer support team to quickly resolve the issues faced by the customers. Unfortunately, only a few exchanges provide live chat or 24/7 customer support. Some exchanges may take up to a week to answer simple questions. They might also send some standard reply messages which do not solve your problems. When choosing the best exchange make sure it has at least a dedicated email to solve your issues quickly. We highly recommend checking Reddit and their social media channels.
Liquidity is an important aspect not only for digital assets but also for the cryptocurrency exchanges. You should always choose exchanges which have high liquidity, as this helps you to get a fair and stable price for your crypto coins.
Definition: Liquidity is the ease at which an asset can be converted to cash.
Unfortunately, you are not able to yet compare the liquidity of cryptocurrencies with other tradable assets like gold, because digital currencies are not yet listed and traded globally on stock exchanges. Nonetheless, the more active traders an exchange has, the higher the liquidity it tends to have.
Some exchanges will not allow you to buy/sell Bitcoins or altcoins without completing the KYC (Know Your Customer) process. This process is typically required by law to protect from scams and money laundering, hence you should provide documents to verify your identity and address. To pass through KYC you would typically need the following:
- Photocopy of your ID card or passport (Front & Back)
- A photo of your face holding the ID card or passport
- Proof of address which can usually be obtained through a bank statement
- Some exchanges require you to write the date on a piece of paper and take a photo of it
All serious platforms which allow the purchasing of cryptocurrency using fiat require KYC verification. There are some exchanges which require KYC only to increase your crypto to crypto buying/selling limits. An exchange which does strict KYC is generally considered a good sign.
Ease of Use
A user-friendly interface is not only beneficial for novice traders, but also for experienced traders and investors. Ask yourself, does it feel too complicated to use this exchange? Check if the exchange has FAQs, help or knowledge base section so that you can easily refer to it if you get stuck.
A wallet is required to store your cryptocurrency coins. There are two types of wallets used to store digital assets within an exchange: Web-based and Cold storage. A Web-based wallet, also known as a hot wallet, is always connected to the internet, whereas a hardware wallet, also known as cold storage wallet, is most of the time offline and is only connected to the network during transactions.
Few exchanges offer the commodity of a wallet to safeguard your investment. For security reasons, you should always store your coins on hardware wallets, but having an exchange with a built-in wallet provides you quick and easy access to your funds. For storing your coins check our best cryptocurrency wallets section.
Few cryptocurrency exchanges provide insurance for the digital assets which are stored either on their servers or in cold storage vaults. Trading on an insured exchange means you will be able to receive compensation if someone had to hack the exchange and steal your coins from your account.
It is crucial to remember that no cryptocurrency exchange will offer compensation if an individual’s account is compromised for lack of due diligence. You can only file an insurance claim if there is a security lapse on the entire exchange platform. Therefore, we recommend you not to keep your coins on the exchange, but to store them on a hardware wallet such as the Ledger Nano S or, their most recent release the Ledger Nano X.
Top Cryptocurrency Exchange Platforms
If you are looking for some more cryptocurrency exchanges, you can also check out:
XTB is one of the reputed EU-based FX/CFD platforms which offers CFD trading in stocks, commodities, cryptocurrencies, forex, ETFs, and indices. It provides its services to residents of many countries worldwide and has offices in multiple countries including the UK, Poland, Germany, France, and Turkey. The trading platform is regulated by UK FCA (Financial Conduct Authority). It provides better client money protection by offering compensation to users (up to 50,000 GBP person) in the unlikely event of insolvency.
XTB offers a diversified portfolio of financial assets on its trading platform. It offers CFD trading for the most popular cryptocurrencies including Bitcoin, Ethereum, Ripple, Litecoin and more. It supports multiple fiat payment options like credit and debit cards, bank transfers and electronic wallets (Paypal/Skrill).
The web trading platform is simple, user-friendly and is available in 10+ different languages including Spanish, German, Italian and Portuguese. XTB has a mobile app for both iOS and Android users who prefer trading on the go. It allows users to trade on all devices like computers, smartphones, tablets, and smartwatches.
XTB follows a lengthy registration process and doesn’t allow users to start trading without verifying their identity. Therefore, users must complete the verification process which includes uploading copies of documents to verify their identity and address.
As for fees, it doesn’t charge any commission for every trade, which is definitely an advantage. However, it does charge other types of fees which include spread, swap/overnight, and withdrawal fees.
Bitfinex is one of the most advanced cryptocurrency exchanges in the world. It was launched in 2020 in Hong Kong. Even though it was hacked and more than 100,000 Bitcoins were stolen in 2020, it managed to compensate for most of the losses and pay back users’ investments.
This has won the trust of many new traders who classify it as a truly reputable exchange. Since then, it has improved its security measures and now stores coins in cold storage wallets. Bitfinex offers advanced trading channels for its customers. Accepting wired transfers as well as cryptocurrency payments. Bitfinex tends to be an exchange which is favoured by serious, long-term investors. While novice traders can try this service out, it doesn’t offer live chat support – a feature which is rather essential for those unfamiliar with crypto exchange practices.
As one of the world’s oldest Bitcoin exchange, Kraken has its headquarters in San Francisco. Although Kraken Exchange is not registered with any legislative board, it is still a very respected by regulated banks in the EU as well as the government of Japan. Virtually accepting all countries worldwide, it offers extremely high security for its customer’s accounts so that it will be very challenging for hackers to steal the coins.
Kraken’s trading platform is perfect whether a customer is new to the trading scene or a professional, seasoned trader. It allows its users to trade more than 50+ currency pairs on its exchange. What’s more, it offers great security thanks to its advanced settings, especially when compared to other cryptocurrency trading platforms. The only lacking feature against its competitors is a Mobile app.
Changelly is an exchange platform that allows its users to buy and exchange a vast selection of cryptocurrencies, virtually instantly. By means of its easy-to-follow verification process, which doesn’t require document uploads, it literally takes a few minutes to purchase digital currencies on this exchange. Although it charges high fees for buying cryptos using fiat currency, the crypto-to-crypto rates are very reasonable.
Changelly is great whether you’re a novice or a seasoned trader. So whether you want to get hands-on experience with cryptocurrency trading, or are a professional trader, you can instantly exchange any cryptocurrency without divulging your identity since the transactions are kept anonymous. Additionally, it allows its users to expand their coin portfolio in a straightforward manner.
While it is not regulated with any legislative board, it has managed to gain both a good reputation and the trust of its customers by partnering up with other reputable cryptocurrency exchanges and wallet providers. The main objective of the Changelly is to offer a transparent, simple and accessible interface to buy and exchange cryptocurrencies.
Coinmama, is owned by NBV International (a daughter company of New Bit Ventures Ltd) and accepts members from virtually all countries worldwide. Whilst Coinmama itself is not regulated, its owner is a registered Money Service Business with FinCEN.
The trading interface of Coinmama is so easily accessible that it is ideal for novice users to buy Bitcoins swiftly because the transaction literally takes a few minutes. The process is straightforward and allows users to choose between card payments or bank transfers.
Customers can rest assured that Coinmama is a safe and trustworthy exchange. Although it is the user’s responsibility to protect their coins by sending them to a valid wallet address, to prevent scams, Coinmama requests its customers to confirm their wallet address prior to sending the coins. It’s worth pointing out that the exchange doesn’t store any type of users’ sensitive data on its servers.
Arguably one of the most transparent, advanced and reliable crypto derivative exchange, BaseFEX is a platform like no other. It prides itself in challenging the status quo by offering an innovative setting which gives traders the option of using leverage on four different cryptocurrency pairs of up to 100x.
BaseFEX is a novel cryptocurrency futures exchange where traders are given the opportunity to trade crypto in a controlled manner. Based in Hong Kong, BaseFEX have been evolving their platform for more than 2 years. While officially launched in December of 2020, BaseFEX is registered in the Republic of the Seychelles as Base Investing Corporation.
This derivative exchange is accessible to clients from around the globe, since they have translated their site into 5 different languages, namely English, Japanese, Korean, Chinese and Russian. Nevertheless, their global presence does not negate the fact that there are some restricted jurisdictions. BaseFEX is not available in the United States of America, Québec (Canada), Cuba, Crimea and Sevastopol, Iran, Syria, North Korea and Sudan.
BaseFEX affords its clients to trade cryptocurrency derivatives in a convenient and practical way. Users’ trading journey can begin at the click of a button, thanks to their nifty, easy-to-navigate website. Its trading screen is well designed, easy to use and packed with sought-after features, such as indicators and multiple chart types.
With 11 Perpetual Contracts available for trade with BaseFEX and Futures Contracts as well as the amount of leverage offered is high (100x) fees are very reasonable. Moreover, there are no extra charges for deposits or withdrawals. Even makers fees are free with takers’ fees being a universal 0.06%.
In the words of BaseFEX’s CEO (Jesse Wu) and CTO (Isaac Zeng), BaseFEX aims to “make trading smooth, secure and accessible for traders worldwide.”
Before finalizing on the cryptocurrency exchange, it is highly recommended to do an in-depth study on that exchange by visiting their official website and FAQ or Help section. You can also read the reviews of other people who have used the exchange. There are plenty on Reddit and on other social media platform which can help you do that.
Always remember that cryptocurrency investment is associated with high risk. If you do a wrong decision, then it may result in a severe financial loss. It is always advisable to spend some time and do your homework before buying any cryptocurrency from the exchange. The content provided on Cryptimi should not be treated as financial advice and you must never risk more money than you afford to lose.
Altcoins vs. Tokens: What’s the Difference?
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Article Overview: This article explores the subtle differences between cryptocurrency coins and tokens, and why the term “cryptocurrency” is a misnomer.
Cryptocurrencies can be extremely hard to wrap our heads around, especially since their underlying technology – the Blockchain – is shrouded in computing language and terminology that is technical in nature.
This is a huge barrier to many who are interested to learn more about cryptocurrencies and blockchain technology.
But do not worry! We’ll guide you in understanding key cryptocurrency concepts that is great for you to know. (See more: Guide to Common Crypto Terms)
Learn How to Make Over 100% Returns Investing in Crypto
What are Cryptocurrencies?
Let’s start with understanding the definition of cryptocurrencies. Cryptocurrencies are digital or virtual currencies that are encrypted (secured) using cryptography.
Cryptography refers to the use of encryption techniques to secure and verify the transfer of transactions.
Bitcoin represents the first decentralized cryptocurrency, which is powered by a public ledger that records and validates all transactions chronologically, called the Blockchain.
Here’s an overview of how the blockchain works:
Source: The Bernie Group
Although many cryptocurrencies have existed prior to Bitcoin, it’s creation marks an important milestone in the realm of digital currencies, due to its distributed and decentralized nature.
The creation of Bitcoin precipitated the expansion of a lush and more diverse ecosystem of other coins and tokens, that are often regarded as cryptocurrencies in general, even when most of them do not fall under the definition of a “currency”.
Coins vs Tokens: Categorization of Cryptocurrencies
It is important to note that all coins or tokens are regarded as cryptocurrencies, even if most of the coins do not function as a currency or medium of exchange.
The term cryptocurrency is a misnomer since a currency technically represents a unit of account, a store of value and a medium of exchange.
All these characteristics are inherent within Bitcoin, and since the cryptocurrency space was kickstarted by Bitcoin’s creation, any other coins conceived after Bitcoin is generally considered as a cryptocurrency, though most do not fulfill the aforementioned characteristics of an actual currency.
The most common categorization of cryptocurrencies are:
- Alternative Cryptocurrency Coins (Altcoins)
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Alternative cryptocurrency coins are also called altcoins or simply “coins”. They’re often used interchangeably. Altcoins simply refers to coins that are an alternative to Bitcoin.
The majority of altcoins are a variant (fork) of Bitcoin, built using Bitcoin’s open-sourced, original protocol with changes to it’s underlying codes, therefore conceiving an entirely new coin with a different set of features.
A central concept of modifying open source codes to create new coins is called hardforks, which is further explained in this article.
Some examples of altcoins that are variants of Bitcoin’s codes are Namecoin, Peercoin, Litecoin, Dogecoin and Auroracoin. (Read also: Bitcoin’s Civil War: How and Why?)
Fun fact: A software fork occurs when there is a change in the underlying programming protocol, resulting in the “forking” or split of the original blockchain. This usually results in the creation of a new coin. There are different types of forks such as hard fork, soft fork or accidental fork.
There are other altcoins that aren’t derived from Bitcoin’s open-source protocol. Rather, they have created their own Blockchain and protocol that supports their native currency.
Examples of these coins include Ethereum, Ripple, Omni, Bitshares, NEO, Waves and Counterparty.
A commonality of all altcoins is that they each possess their own independent blockchain, where transactions relating to their native coins occur in.
Fun fact: The first Altcoin was Namecoin, which was created in April 2020. It is a decentralized open source information registration and transfer system
Tokens are a representation of a particular asset or utility, that usually resides on top of another blockchain.
Tokens can represent basically any assets that are fungible and tradable, from commodities to loyalty points to even other cryptocurrencies!
Creating tokens is a much easier process as you do not have to modify the codes from a particular protocol or create a blockchain from scratch.
All you have to do is follow a standard template on the blockchain – such as on the Ethereum or Waves platform – that allows you to create your own tokens.
This functionality of creating your own tokens is made possible through the use of smart contracts; programmable computer codes that are self-executing and do not need any third-parties to operate.
It really is super cool! Here’s a look at the process:
Tokens are created and distributed to the public through an Initial Coin Offering (ICO), which is a means of crowdfunding, through the release of a new cryptocurrency or token to fund project development.
It is similar to an Initial Public Offering (IPO) for stocks, with critical distinctions which are explained in this article. Many are crazy over ICOs as they represent a great way of identifying interesting projects that can provide great financial returns.
Fun Fact: A template for token creation is wonderful since it provides a standard interface for interoperability between tokens. This make it so much easier for you to store different type of coins within a single wallet. An example is the ERC-20 standard on the Ethereum blockchain, which has is used by over 40 tokens
The main difference between altcoins and tokens is in their structure; altcoins are separate currencies with their own separate blockchain while tokens operate on top of a blockchain that facilitates the creation of decentralized applications.
The majority of coins in existence (close to 80%) are tokens, since they’re much more easier to create.
5 Best Exchange Coins & Tokens in the Crypto world (2020)
CoinSutra » Exchanges » 5 Best Exchange Coins & Tokens in the Crypto world (2020)
- Do you like earning regular dividends as passive income?
- Do you like holding good crypto coins?
If your answer is affirmative, we have similar strategies to make money in the cryptosphere. And if you are not aware of these strategies, don’t worry. You can learn them today by reading this article.
The strategy is simple – identify good coins that reward you in one way or another for holding them. And believe me, with the evolving cryptosphere, the opportunities to earn dividends via passive income are also increasing.
One such strategy is to identify crypto exchanges that have native coins and offer certain dividends and fee reductions to its users for holding their native coins. Especially in 2020, IEO (Initial exchange offering) is fueling this growth of exchange tokens and they are becoming a gold mine.
As of 2020, these are the most popular exchange tokens:
For now, I will list some crypto exchange coins that offer dividends and reduced fees.
Best Crypto Exchange Coins For Bonuses Or Lower Transaction Fees
BNB aka Binance token is a native coin of Binance exchange, also an ERC20 token, with a fixed supply of 200 million. Out of this, 100 million BNB tokens were distributed during the ICO last year.
In case you didn’t know, Binance is the best cryptocurrency exchange in the market as of now. To know more about Binance, read this exclusive guide.
You can use BNB to pay any fee on the platform, including, but not limited to:
- Exchange Fees
- Withdrawal fees
- Listing Fees
- Any other fee applicable
Apart from this, when you use BNB to pay for exchange fees, you will receive a significant discount according to the chart below. You can see their fee structure in detail here.
Last, but not least, the token economics of BNB is set in a way that not only you will receive exchange fees reduction, but the net worth of your tokens will keep increasing with time because Binance will buyback 20% BNB tokens every quarter and burn them until the total supply reaches 100 million.
This will naturally drive up the price of BNB tokens. You can learn more about BNB token in our Binance exchange review here.
Disclosure: I bought BNB tokens at $12 a few months ago. Today they are valued well above $15 per coin.
2. BTMX token
BitMax seems to be another upcoming exchange which is following the suit of Binance exchange. The native token of Bitmax (BTMX) offers many great rewards and features. An ERC20 based token which has a limit of 10 billion BTMX. One highlight of Bitmax exchange is; you should be able to buy other exchange tokens on Bitmax. This is something unique and made it worth exploring BTMX from investment perspective.
Features of BTMX token:
- Pay dividents for users who lock BTMX token
- Participate in IEO (Bitmax Launchpad)
- Trans-fee mining: When a user pay transaction fees for a trade, the platform incentivize in BTMX token. The platform deducts trade transaction fees from traders and then credits their account with BTMX tokens of the same value
Here is the allocation plan for BTMX token:
- 49% of total issuance is set aside for pre-distribution (5% – early supporters, 4% – strategic partner, 12% – team and platform, 18% – Foundation, 9% – private sales, 1% – marketing and operating)
- 51% would be released and distributed to incentivize users daily to participate in transaction mining, total BTMX in circulation = daily mining production of BTMX / 51.
- 10% of the private sale portion (which is 9% of total issuance) would be released prior to the rest of 49%, hence it is designated as a pre-release amount (0.9% of total issuance).
Pre-distribution Token Unlocking Mechanism:
- Unlocking Mechanism: The number of tokens distributed as part of pre-distribution (49% of total issuance) would be unlocked daily according to the ratio of 49:51 where 51 refers to the day’s mining production output
- Unlocking Priority: The 10% in the private sales portion (Pre-release) would be first prioritised for preferential unlocking. The rest of the pre-distribution tokens will afterward be subject to the Unlocking Mechanism as described above on the pro-rata base.
KCS is the native token of the well-known KuCoin exchange and is quite similar to Binance’s BNB.
KCS aka KuCoin Shares is an ERC20 token, 100 million of which were distributed in the ICO last year.
You can see the reward ratio of holding KuCoin Share tokens below.
Understandably, holding KuCoin Shares is a win-win situation in both the conditions if you are HODLer or trader.
Also, similar to Binance, 10% of their profits will be used in buying back KCS and burning them so that the holders of KCS are rewarded more as a result of the appreciating price.
Bibox is an exchange similar to Binance and has a native token called BIX.
The BIX tokens can be used for paying various fees on the platform and the holders of BIX tokens are rewarded with a fee reduction as per the chart below.
Another incentive associated with the BIX is that these tokens will be bought back regularly and burnt until the final supply reaches 200 million, creating an economic incentive for the holders.
Total supply: 264,480,790
This feature will let you earn a part of trading fees if you lock up your BIX token for a certain period. See the screenshot below to learn how to lock BIX token and earn incentives:
You also have an option to unlock your token anytime which prevents you from market manipulation.
In June 2020, Bibox announced Bibox Ambassador Global Recruitment which adds more value to BIX token holders. You can read about it here.
COSS is another ERC20 token, which is also the native currency of COSS exchange.
COSS is also an exchange like Binance and KuCoin, with similar features. It will, however, transform itself into a DAO.
For now, COSS holders are paid 50% of the exchange trading fee on a weekly basis.
One can hold COSS tokens on the exchange itself or in an ERC20 wallet like MyEtherWallet to receive the rewards.
Conclusion: Best Crypto exchange dividend coins
All the exchanges listed above have similar advantages and it is a profitable idea to hold these tokens. I say profitable because the crypto space is still growing and has not reached its saturation level.
Also, I think such tokens are a must in any crypto portfolio because these tokens are low risk with decent rewards.
That’s it from my side in this article.
Do let me know of the tokens/coins that you intend to buy and hold. Also, share with me if you know of any other crypto exchange coins that pay dividends or offer a reduction in fees for holding them.
A few other hand-picked articles for you to read and widen your knowledge base:
An award-winning blogger with a track record of 10+ years. An international speaker and author who loves blockchain and crypto world.
After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
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