Market Analysis Report (16 Jun 2021)
16 Jun 2021
Here is a consolidated list of best cryptocurrency exchanges with my comments:
Slowly and steadily, Bitcoin and altcoins are getting attention from more investors all around the world.
And why not? These cryptocurrencies are time and again proving themselves to be a safe haven against the government’s inflationary policies.
That’s why some people are even earning interest in crypto, while some are doing pure speculation with short-term trading (i.e. buy low, sell high).
And let’s not forget about those who are just starting off by looking around to find the answer to questions like:
But before we talk about the best exchanges out there, I need to tell you that it’s not too late to get invested in cryptocurrencies. At the time of this writing, the Bitcoin and altcoin market is at an all-time high, with a market cap of $219 billion. I believe we will cross the $300 billion mark later this year.
So now that you know you should invest, here’s where you need to go to do that.
Note: This list is starting from easy to use exchanges and moving towards some of the advanced exchanges.
Binance is a rapidly growing exchange that concluded its ICO on 21st July 2017 and raised 15,000,000 USD. The company is registered in Malta which is the crypto heaven and offers a blazing fast exchange. The exchange is designed for beginner trader, as well as advanced traders. They offer inbuilt wallet which is idle for storing Bitcoin for a short span of time. You could also earn interest in your Bitcoin or USDT holding, if you allow so.
Since it’s ICO to till date, it has grown tremendously and is in the top 5 cryptocurrency exchanges in the world. It now has over 200+ altcoins listed on it, which are only increasing as the days are passing.
Binance being a centralized exchange has taken a unique take to expand its business and also provides a decent discount for day traders if they use BNB coins. BNB is the native currency of this platform, which let you save money on buying/selling of any coin.
Binance has a global exchange which is idle for everyone and has the highest liquidity. Users from the USA can signup for Binance.us , Singapore users can signup for Binance Singapore. Use the table below to pick the idle Binance exchange for your jurisdiction:
|Binance Global||Sign up here|
(10% trading fees off)
|For everyone (Users from all country) except the USA|
|Binance USA||Sign up here|
|For the USA users|
|Binance SG||Sign up here|
(Get 100 SGD)
|Native exchange for Singapore users|
Binance’s fee structure is also unique.
To start with they have 0.1% standard trading fee which is already quite less than other peers. You can even reduce your fee further if you pay your trading fee in BNB according to the below-shown structure.
To get started with Binance you need to register using your email ID and the process is simple & fast. Binance is one of the few exchanges that offers mobile app for iOS and Android.
Read: Binance Review: Features, Fees in 2021 (Beginner’s Guide)
Being using it for a while, I find it too easy to trade cryptocurrency while on the move. You can watch this video to learn how to use its mobile app.
They also have aggressive plans like multi-lingual support, mobile apps for both iOS and Android users, Binance lending program, and the Community Coin Per Month, etc for more adoption of their platform.
FTX is a relatively new exchange that was established in May 2019 by FTX Trading Ltd. The exchange is growing at a rapid pace because of its very interactive user interface and many unique offerings in the derivatives market. The company is incorporated in Antigua and Barbuda, the Caribbean, and its offices are based out of Hong Kong. Read our full review of the FTX Exchange here.
The USP of the exchange is its team which has relevant and dynamic experience in the crypto and traditional trading sector. FTX team comes from some leading Wall Street quant funds and tech companies: Jane Street, Optiver, Susquehanna, Facebook, and Google. The team has ample exposure to the traditional secondary market. Members have backgrounds in equity derivatives trading and seem to have an understanding of how derivatives are traditionally designed, and what kind of derivatives are in demand. FTX’s motto is “by the traders, for the traders”.
In August 2019, the Exchange raised USD 8 Million to invest into the operations of the exchange.
The exchange has almost all the services which are provided by other leading exchanges such as spot trading, futures trading, ETF trading, margin trading, and staking. However, it also has some unique products such as leveraged tokens, tokenized equity stocks, prediction markets, OTC transactions, etc.
The platform comes with extensive benefits such as:
With a substantial number of features and benefits, FTX is a wholesome exchange that provides almost every traditional (spot, futures, staking, 2FA, etc.) and many new services (tokenized stocks, leveraged tokens, prediction market, etc.) to its users.
Further, with the growth potential of the exchange, there is a substantial potential upside to the exchange’s native token FTT.
Bitfinex is another one of the largest and most popular cryptocurrency exchanges out there.
Based out of Hong Kong and operational since 2014, it gives its users the option to trade the following 13 cryptocurrencies in USD or BTC:
Update: They have added a lot more cryptos recently.
Unlike Bittrex, you can trade using USD (with a wire fee of at least $20). Also, users will need to pay a trade fee which varies from 0.1% to 0.8% (details here).
Also, whenever you withdrawal or deposit anything, you are charged a certain fee:
On Bitfinex, if you are a pro-trader, you will find advanced trading tools such as limit orders, stop orders, trailing stop, fill or kill, TWAP, and others, along with different market charts.
To get started on Bitfinex, you need to register, verify your ID, and authenticate yourself. It typically takes 15-20 business days after submitting valid ID proof before you’re accepted into the platform.
And whenever you get bored with the web version or want to trade on-the-go, you can use Bitfinex’s Android and iOS mobile apps.
Coinbase is a U.S. based crypto exchange that serves the global audience. They are beginner-friendly and offers great speed and reliability.
Using CoinBase you can quickly buy cryptocurrencies and trade at the same time. They have an app for both iOS and Android, which gives you the comfort of exchanging cryptocurrencies from anywhere. Wire transfer feature is also available on Coinbase.
The security standard of Coinbase is enterprise-grade, and they have been around for many years. Coinbase is supported in almost all the continent (Africa, Asia Australia, Europe, North America, South America)
Coinbase also supports popular stable coins such as DAI, USDC which is an important aspect of any popular cryptocurrency exchange.
Changelly is one of the easiest ways to get ahold of various cryptocurrencies.
Changelly has a proven track record of consistently good products being put out into the crypto-space.
One of the best things about Changelly is that you don’t need to go through any lengthy verification or registration process. It is a non-custodial exchange.
Currently, it supports more than 200 cryptocurrencies along with fiat pairs such as USD/EUR. It is one of the best and easiest to use crypto exchanges out there.
When you use Changelly to exchange cryptocurrency, the matching engine connects in real-time to some of the best and busiest cryptocurrency exchanges in the market to get you the best price.
Usually, when using Changelly, a crypto-to-crypto exchange takes 2 to 20 minutes.
The amount you see is the amount you get, so you don’t have to worry about any hidden fees or charges.
All you need to buy from Changelly is a VISA/MasterCard (credit/debit card) and a wallet where you want to receive your new coins.
The procedure is very simple.
Head toward Changelly, and follow the on-screen instruction to exchange your coins.
KuCoin is another easy and hassle-free cryptocurrency exchange. KuCoin offers many popular and unique coin such as CHR, $KCS, and many others. Just like Binance, they offer a fully functional mobile app for Android and iOS.
To get started with KuCoin, you can deposit any crypto of your choice ex: BTC and start trading. Personally, I have been using KuCoin for the past 2 years and they have been constantly adding extra features.
Huobi Pro is an international cryptocurrency exchange that originated in China but now has moved across the world to serve a maximum number of investors. It is based out of Singapore and has been operating in this space successfully for the last five years.
As we speak, it occupies the #3 spot on CoinMarketCap’s list of exchanges by volume and has 244 cryptocurrency pairs. Hence, needless to say, of this, you will never face liquidity problems on this exchange.
They also have mobile apps for both Android and iOS for users who want to trade cryptos on the go.
Their registration process is also pretty simple and straightforward, so go ahead and do the needful. Oh, and just so you know, the exchange fee is also pretty low. Have fun.
Do read, Huobi Exchange Review : Pros and cons
Bittrex is a US-based cryptocurrency exchange that provides you the option to trade more than 190 cryptocurrencies at a time. They are well-regulated and compliant with all of the current US rules, so crypto users need not worry about the safety of their funds.
Bittrex handles one of the largest BTC trading volumes out of all the exchanges in the world.
Here, the users (buyers/sellers) decide the rates in which they want to trade, and Bittrex charges them a small service fee for providing this platform (0.25%).
To get started with Bittrex, you need to register and log in through your email ID, but to withdraw funds, you need to do a KYC by submitting your ID documents and phone number, as well as enabling two-factor authentication for higher limits.
But one good thing about Bittrex is the account verification happens quite fast.
Bittrex supports two types of accounts:
Bittrex is a “crypto-only” exchange, meaning it doesn’t allow you to deposit fiat currencies such as USD, EUR, GBP, etc.
They provide access to advanced trading tools like candlestick charts and crosshairs, but the user interface is quite clean and intuitive, so newbies should have no problems.
You can visit Bittrex and open a Bittrex account by following this official step by step guide here.
Kraken is a crypto exchange which is meant for serious individual and businesses. Apart from Individual account, it also offers an institutional account which is idle for crypto businesses. Kraken supports multiple digital assets, and you can fund your account in multiple traditional currencies.
Kraken also offers a Bitcoin OTC desk for high volume crypto exchanges. Kraken uses a maker-taker fee schedule with volume incentives based on your activity in the past 30 days. Kraken also supports the Staking of popular proof of stake coins.
You can use Kraken to deposit and withdraw fund to any bank accounts globally. In my experience of using Kraken, bank transfers is quick, and support is excellent.
Overall, Kraken is one secure, and trustable exchange that you should check out.
Using the above cryptocurrency exchanges will allow you to buy almost all of the cryptos you could ever want to buy.
However, there are a few more cryptocurrency exchanges that you should have an account with, as there are a few coins that are only available there. It’s a good idea to have an account on most of these, which will save time when you discover a winning coin.
I will update this post as I find other trustable and feature-rich cryptocurrency exchanges. For now, you can consider joining our Telegram channel to stay updated with all the latest info.
I hope these insights help you in choosing the best cryptocurrency exchange for you to use.
But one word of caution:
If you are storing cryptocurrencies on these exchanges for a few hours or even a few days for the sake of trading, then it’s probably OK. Otherwise, this is a bad practice.
Large-scale hacks like Mt. Gox can happen at any time. I would strongly recommend you to use the Ledger Nano S or a wallet like Atomic, where you can store a lot of different cryptos and control your private keys.
So now it’s your turn to tell me: Which one of these exchanges do you like the best? Also, what’s another great exchange that I haven’t listed here? Let me hear your thoughts in the comments below!
There are a few exchanges that are regulated. For example, Coinbase, CEX, Coinmama are regulated.
As mentioned above, here are the 10 best crypto exchanges:
Binance and Bybit offer the lowest fees at this moment.
There are a few exchanges that are regulated. For example, Coinbase, CEX, Coinmama are regulated.
Changelly or Changenow is the best for those looking for instant exchange of coins. Binance offers the biggest ecosystem, and the platform is also beginner friendly.
Binance has the maximum number of coins which are of high quality.
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