The 8 Best Cryptocurrency Exchanges in the World
We at Go Cryptowise wants to continuously provide you with helpful guides and articles on relevant and interesting cryptocurrency and Bitcoin topics. Here we have reviewed in our eyes the best cryptocurrency exchanges in the world. Based on popularity, trading volume, security, cryptocurrency selections and a good mix of different types of exchanges.
The 8 cryptocurrency exchanges that we are going to review are:
Lets explore the best cryptocurrency exchanges
OKEx is the second biggest cryptocurrency exchange when comparing trade volume (24h). That counts for something, especially as they were founded in 2017. OKEx has their headquarter in Hong Kong, but has recently joined Binance in moving parts of their business to blockchain and tax friendly Malta. OKEx offers fiat-to-crypto and crypto-to-crypto trading on more than 100 digital currencies.O
OKEx like Binance is still a fairly young cryptocurrency exchange, but has seen like Binance a huge growth in the past year. Even though like much of the other crypto exchanges has seen a lot of traffic decreasing during the long bear market of 2018.
OKEx launched in end of 2018 a new crypto derivative product, letting their customers speculate on the future value of BTC/USD (Cointelegraph).
Advantages of OKEx
- Ambitious cryptocurrency exchange that continuously pushes further their development and crypto offerings
- Good trading volume and selection of cryptocurrencies
- Fiat to crypto trading
Binance is right now the leading cryptocurrency exchange if calculated by volume (via Coinmarketcap). And considering they just launched in 2017 it’s been a very impressive ride to take them to the 1st position. They have been doing a lot of things right in the fairly short time they’ve been around. And at the forefront of all this is their well known and liked CEO Changpeng Zhao, or CZ.
What we like about Binance is the exchange itself which is very straightforward and somewhat easy to use, depending on your previous experience with trading platforms and crypto. Overall the focus on the UX, provide good updates and communication and they have proven to be secure and safe to use in a somewhat sometimes sketchy crypto market.
Binance is one of the world’s leading cryptocurrency exchange, with an average daily trading volume of $1 billion dollars (March 2019). It has made an name for itself in the crypto community for it’s quick rise to fame, CZ and its willingness to innovate in the space. Binance in 2018 moved to Malta, a country trying to position itself as the world’s most Blockchain friendly country in the world. Binance is not the only cryptocurrency exchange doing so, seeing OKEx also making the move in 2018.
Binance officially launched their fiat to crypto earlier in January 2019, called Binance Jersey. Taking their next step to further (Binance announcement) label themselves as one of the leading cryptocurrency exchange in the world. There’s also been rumors flying around that Binance are going to launch an Fiat to Crypto platform in Argentina in the near future (News BTC).
Binance launched their first Fiat to Crypto platform in Uganda actually, the exchange was launched in October 2018 (Cointelegraph).
Advantages of Binance
- The charismatic leader of this cryptocurrency exchange CZ is a prominent figure in the cryptocurrency world that makes the space better
- One of the biggest selections of cryptocurrencies
- Innovator, often being the first to launch new features, new cryptocurrrencies, moving to Malta, delisting
Coinbase is perhaps the most well known cryptocurrency exchange out there. It’s often the initial platform that many new users start with after getting interested in crypto. And that’s because they have done it so extremely well in making it easy for new users to understand and get started. Their website and UX is well built and they provide users with bank, credit and debit card deposits. They also provide users with the withdrawals to your connected bank account.
Coinbase have been around since 2012, and sure they receive some criticism from time to time, like most companies of that size. But overall they have done so much for crypto, and still do today. They have easily onboarded perhaps most newcomers to the crypto world with their easy to use platform. They have a CEO Brian Armstrong who’s been a great ambassador for all cryptocurrencies, and a helpful promoter of blockchain technology. It’s easy to understand the comparisons when people say that Coinbase wants to position themselves as the Google of the crypto world. Coinbase also has another exchange for the so called experts. Namely Coinbase Pro (previously GDAX), which offers lower fees, more traditional cryptocurrency exchange look and a wider selection of coins.
Read more about the difference between the twohere.
For what it has to offer (few cryptocurrencies) they do it very well (easy UX – higher fees).
Get $10 free when signing up (if you spend $100 USD) – Coinbase
Advantages of Coinbase
- Great UX and easy to use website and exchange
- Option for an easy version and more advanced version (Coinbase Pro)
- One of the more trusted exchanges in the world, more likely that they will be around for a long time
eToro is very much part of the new wave of global Fintech companies that has helped to change the scene of finance, banking and much more. It is the world’s leading social trading network, with millions of registered users and an array of innovative trading and investment tools. And they have taken the tools, the users and methods to crypto as well.
With eToro you can buy and sell crypto like at other cryptocurrency exchanges, but they like with stocks gives you the option to copy other fellow investors, and also public portfolios. Which can definitely be helpful for the newcomer who might be a bit overwhelmed by the sheer amount of cryptos available.
eToro doesn’t have as many cryptocurrencies as cryptocurrency exchanges, but they do have FIAT deposit options – bank transfer, debit card, credit card and in many currencies, and others like Paypal, Skrill and more) and other interesting features like follow and copy other popular traders.
eToro stands out from the rest of the cryptocurrency exchange on our list. And they are a different beast, that’s for sure. They have been a pioneer in the social investment trend, and making investing available and open to everyone. eToro has recently announced the news that they are launching a new cryptocurrency exchange, catered to the more seasoned traders. It will have 37 cryptocurrency trading pairs, 8 stable coins and many of the wanted pro trading features called eToroX (The Next Web article).
Advantages of eToro
- Social trading features, allows you to copy trading strategies, portfolios, etc
- A trusted cryptocurrency exchange, that will more likely be around and continue to innovate in the coming years
- Great features and popular tech options like with Fiat gateways, Paypal, Skrill, etc
Bit-Z is one of the worlds biggest cryptocurrency exchanges when it comes to trading volume and amount of supported coins, after Binance. Bit-Z founded in 2016 in Hong Kong. Bit-Z has established branches in 10 countries and regions including Singapore, Japan and South Korea. Tokeninsight, the professional assessment agency, ranks Bit-Z as the fourth in the world. Bit-Z team includes top talent from the international digital currency industry, as well as diversified professionals in various fields such as finance, social networking, games, and electric commerce. Bit-Z is committed to providing the most efficient and secure service.
Bit-Z also provides a lot industry reports, videos and chats, and more through their Media Research Institute.
In 2018, Bit-Z began its global strategic layout and has expanded to ten countries and regions around the world; At present, 70% of the Bit-Z traders are distributed overseas, mainly in Japan, Singapore, South Korea, France, Australia, and the United States.
Bit-Z has positioned itself as a very interesting player in the crypto world. Providing both a traditional cryptocurrency exchange and OTC trading.
Bit-Z has been around since 2016 and they today have branches in 10 different countries. So far they have been able to provide a secure trading environment. With no security breaches or hacks. Their trading platform can handle transactions up to 50,000 per second. Allowing them to meet the user’s need for fast deposits and withdrawals.
Advantages of Bit-Z
- Platform stability, can handle high volumes with their cryptocurrency exchanges
- Global presence and an exchange that has continuously been ranked in the top, with a strong business side with an experienced teams running it and platform security.
- Very good selection of cryptocurrencies and easy to use site
Kucoin launched in 2017 and fairly quickly made a name for itself in the crypto world due to its early adoption of certain altcoins and their own coin called Kucoin Shares (KCS) which is a passive income coin, where you as a hodler of KCS gets a percentage of the trading fees from the Kucoin exchange. Overall Kucoin has proven to be a worthy cryptocurrency exchange and a decent competitor to Binance. Kucoin holds most of the popular coins, but they are also often one of the first to add new altcoins. The customer service has proven to be reliable.
Kucoin for us have really positioned themselves well during the 2018 bear market with their revenue share model (passive income), and their willingness to add new altcoins very quickly. Like other new startup cryptocurrency exchanges they had their share of problems in their growth period. But today they have to be seen as one of the top exchanges available, with a great selection of coins.
Advantages of Kucoin
- Often one of the earliest to add new cryptocurrencies and altcoins, has a great selection of coins
- Very interesting passive income model, where KCS holders gets a percentage of the trading fees
- Decent customer service that is available through chats and other channels
Founded in 2011, San Francisco-based Kraken is one of the oldest cryptocurrency exchanges still around today. They are one of the largest Bitcoin exchanges in the world in euro volume and liquidity. The U.S exchange was one of the world’s first to have their trading volumes displayed on Bloomberg terminals, and passing a cryptographically verifiable proof-of-reserves audit. Kraken investors include Blockchain Capital, Digital Currency Group, Hummingbird Ventures, Money Partners Group, and SBI Investment. For more information.
Kraken CEO Jesse Powell have often been speaking to the public, and the crypto community about the risks of keeping their funds on exchanges. This including Kraken themselves. And it’s great to see honesty and transparency coming out from the CEO of such a large exchange. Witnessing about the unfortunate but common problem that is around in the still unregulated crypto world.
Kraken also very interestingly offered a $100k reward to anyone helping out to locate the missing QuadrigaCX funds (Coindesk). Helping out to solve on of 2019’s biggest crypto mysteries. Find out more about QuadrigaCX scandal here.
Kraken for us is definitely one of the more trustworthy cryptocurrency exchanges around in the crypto world. They might have seen themselves falling behind the huge rise of exchanges like Binance and OKEx. But we believe that their transparency and work to create a more open and regulated crypto world is the right choice. And one that will make sure they’re around for years to come.
Advantages of Kraken
- One of the oldest and most experienced crypto exchanges. Most likely to be around for a while
- Another CEO that has been a voice of reason in the crypto industry, a leader that helps Kraken to become one of the more trustworthy exchanges
- Offers a good variety of trading features, margin trading, good trading volume and fast exchange, futures trading, etc
LocalBitcoins is different to your everyday cryptocurrency exchange, one of the early pioneers in the crypto space LocalBitcoins helped connecting people with each other via their platform. They’re not an exchange that has cryptos, but they connect buyers and sellers together and they provide you with a wallet option on via their site. They don’t take any fees when buying, selling or when withdrawing (bar standard BTC network fees).
So when you want to buy Bitcoins via LocalBitcoins you go to ‘Buy’ section where you’ll find local people that wants to sell their Bitcoins to a acceptable price. Then you get in touch with each other and then you can figure out how to pay for the Bitcoin, cash, bank transfer, Paypal, Swish, etc. Each user needs to be verified, get a feedback score and you can see the amount of trades they’ve made to help you feel safe that it’s a real person, and that they won’t scam you.
LocalBitcoins is a unique ‘exchange’ where we today have tons of cryptocurrency exchanges available. All fairly similar to each other. Perhaps with slightly different coin selection, but overall same look and feel.
Advantages of LocalBitcoins
- Unique cryptocurrency exchange where you trade Bitcoins with each other
- One of the pioneers in the Bitcoin world, and that has been around for a long time
- No trading fees from the site itself
Use our exchange comparison tool to put the cryptocurrency exchanges against each other
Summary of the cryptocurrency exchanges
When looking for a suitable cryptocurrency exchange you need to take your time and go through your options. That could be a 5-10 minutes Google search on them. What does other reviews say? Any common issues that people have reported? How’s their customer service department? But remember people often like to post about the bad things, and the positives are often not as fun to talk about. So you will automatically find more negatives than positives.
But we have chosen to not include all the world’s cryptocurrency exchanges in our review here, and on our site. Because we are aware of all the mishaps, hacks and scandals that has happen throughout the years. So we don’t want to recommend an exchange which we haven’t used. Or that doesn’t provide us with enough details about their security methods, so that we don’t feel comfortable promoting them. But you should make up your own mind which might suit you.
Also we recommend you reading our guide on how to protect yourself and your cryptocurrency funds, it’s linked just here below.
It’s also recommended to look at Reddit and other places too if unsure about anything.
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Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that wants to see better and smarter products and services that makes our lives better and easier