How to Choose a Crypto Exchange in Seven 7 Simple Steps

When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term – exchange. Same as with some other crypto exchanges, Cex offers great fees for its users, too. The trouble is that decentralized exchanges are much less user friendly, not only from an interface standpoint but also in terms of currency conversion. Decentralized exchanges, for instance, don’t always allow users to deposit dollars and exchange them for crypto.

This means that you’ll have access to thousands of ERC20 and BSC tokens. The exchange lets anyone purchase gift cards with discounts of up to 30%. The platform is available in over 200 countries and has its own currency “Redeeem Credits” which can be obtained using over 20 different cryptocurrencies. LocalBitcoins is a company based in Helsinki, Finland, founded in 2012. It connects buyers and sellers to trade Bitcoins either with cash or via bank deposit.

Gemini is based in the US and was founded by Cameron and Tyler Winklevoss. And the number of coins these two owns makes it quite literally the most secure exchange around. Binance Jersey is fiat focused crypto exchange built on top of technology developed by Binance, the leading and most known crypto exchange on the market. is focused on becoming a new home for cryptocurrency trading services within the United States. These are some of the best exchanges that have primarily focused on dealing with fiat, and therefore perform better when buying your first Bitcoins or selling your coins for cash. QTrade is a unique altcoin exchange that lists only selected original dev coins with special capabilities and features.

Top-rated guide to choose a crypto exchange

Another benefit of no KYC crypto exchanges is that you don’t need to risk data privacy leaks. For example, in late 2020 it was reported that BTC Markets – one of Australia’s largest exchanges, ‘accidentally’ leaked the full names and email addresses of all registered users. This includes the trader’s name, nationality, home address, date of birth, and contact details. While most traders don’t mind providing this information to crypto exchanges, some do. What’s more, the KYC process often doesn’t stop with personal information.

Top-rated guide to choose a crypto exchange

On top of this, they also have a generous trading program offering new traders up to 60$ for free to begin trading with. BitForex is one of the large global crypto exchanges providing seamless spot, perpetual, and social trading opportunities. The exchange has over 300 trading crypto exchange pairs, supports over 180+ countries, and with 100x leverage it can offer maximum profit opportunities. BitMEX is a Bitcoin Mercantile Exchange and derivative trading platform. It is operated and owned by HDR Global Trading Limited, which is registered in Seychelles.

That’s a large risk to take and it’s much better to follow regulations. In this article rather than answer that question outright, we’ll give you all of the tools that you need to figure it out for yourself. This is especially useful as not every person will have access to the same exchanges.

Top-rated guide to choose a crypto exchange

In fact, crypto exchanges typically charge a fee every time you deposit, trade or make a withdrawal. Fees range from 0% to 5% per trade, depending on your payment method and the type of transaction. Fee tiers are typically based on your total trading volume over a 30-day trading period, and the percentage you pay generally falls as the size of your trades increases. For example, if you traded $1,000 worth of tokens 15 times in a month on Bitstamp, fees would amount to $75. This mobile app offers a broad range of tradable cryptocurrencies and a user-friendly experience for investors. OKX’s noncustodial wallet provides users with extra security and control over their digital assets.

  • This mobile exchange app allows users to buy, sell, and trade a broad range of cryptocurrencies, as well as earn interest on their holdings.
  • Furthermore, OKX’s non-custodial wallet provides users with full control over their private keys, ensuring extra security.
  • This can make frequent trading and small transactions quite expensive.
  • Through raising awareness on the topic, you too can become more vigilant and reap the benefits of crypto trading.

When it comes to picking a popular and safe exchange for your crypto holdings, there’s hardly a trader out there who hasn’t heard of Binance. Binance has a spotless reputation and features cutting-edge security features. Knowing how to get a bitcoin wallet and earn bitcoin online doesn’t require a lot of technical skills to get started.

Several brokers offer cryptocurrency trading in addition to stocks, funds and other asset classes. The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

Crex24 is a fresh cryptocurrency exchange providing hundreds of altcoins to trade. Customers can top up their accounts in CNY, euros, yen, rubles, and dollars, while simultaneously having unlimited withdraw amounts in crypto and fiat. This exchange is more focused on the traditional side, yet they do include cryptocurrencies such as BTC, ETH, LTC, and XRP. The unique thing about this platform is that you can copy-trade other profitable traders possibly making a great passive income.

Going forward, before choosing an exchange, you might want to consider going through the points listed above to guide your choice. You either get to explore these features first hand by registering on your favorite platforms, or you surf the web for unbiased reviews that clearly state what services and features are supported. Either way, you would have to put in the work and find out for yourself.

One of the most common licenses is a money transmitter license, which allows exchanges to operate within a specific state or country. Another weighty license is the digital asset exchange license, which regulates the trading of digital assets. If, like me, you cherish the principles of independence and decentralization, I’d suggest giving Uniswap a whirl.

While custodial wallets can be convenient, they are also regarded as less secure than non-custodial wallets. However, since you can withdraw your Bitcoin from Cash App, you can move your cryptocurrency into a personal wallet to which you hold the private keys. BitMart is our top pick in the best for altcoins category because it allows users in 180+ countries to buy and sell over 1,500 cryptocurrencies. Traders and investors who prefer to trade on a highly secure platform will appreciate what Gemini has to offer. Launched in 2014 by Tyler and Cameron Winklevoss, Gemini stands out for putting a strong emphasis on security and compliance. The New York-based exchange has hot wallet insurance to make sure user funds remain safe in the case of a security breach.

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