Choosing the right cryptocurrency exchange is no small task. While there are many factors to weigh, one often overlooked is trading volume. In simple terms, volume refers to the amount of trading activity on an exchange. Why does this matter? Well, it can impact how quickly your trades get executed.
With over 600 cryptocurrency exchanges across the globe, it’s important to know where the action is. In fact, most of the daily trading happens on the top 20 exchanges. So, if you’re looking to dive into the exciting world of crypto trading, this article is your guide. We’re about to explore the top 10 cryptocurrency exchanges in the world, all based on their trading volume. Let’s get started.
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The crypto giant Binance claims the top spot on our list. What makes it stand out? Well, it’s all about the numbers. Binance consistently handles more than $10 billion in daily trading volume, making it the go-to hub for crypto traders. This high volume means you’ll find plenty of buyers and sellers for even those lesser-known cryptocurrencies.
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Now, let’s talk fees. Binance offers a straightforward 0.10% entry fee for all supported markets. But here’s the trick – if you hold their native BNB tokens, you can slice that fee by 25%. And for active traders, there’s an opportunity to further reduce fees by meeting certain trading thresholds during the month.
If you’re into crypto derivatives like futures, options, and leveraged tokens, Binance has got you covered. Leverage options typically range from 1.5 to 3 times, but you can go even higher with perpetual swaps.
Binance is more than just a trading platform. It also offers staking, dual investments, and liquidity farming for those seeking different ways to grow their crypto assets.
When it comes to deposits, Binance supports a wide range of fiat currencies and payment methods, including debit/credit cards (with an average 1.8% fee, which can vary by country), and even peer-to-peer payments through platforms like Wise, Revolut, Skrill, and Neteller. Of course, crypto deposits are also a breeze.
- 120 million registered users.
- Largest crypto exchange for daily trading volume.
- Trade over 350 spot markets.
- Also supports futures, options, and leveraged tokens.
- Super-low trading fees.
- Many supported products are not suitable for beginners.
- User interface can be simplified more.
Coinbase, founded back in 2012, has made quite a name for itself. It’s now a publicly traded cryptocurrency exchange with a whopping valuation of over $17.5 billion. Operating in 100+ countries, it’s known for its user-friendly interface and advanced features, catering to both newbies and seasoned traders. In terms of trading volume, Coinbase comes second, right after Binance
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One of Coinbase’s strengths is its support for more than 250 different assets, making it a welcoming place for first-time crypto buyers. Its online banking app-like interface is familiar and easy to navigate. Security-wise, they’ve got you covered with insurance and FDIC-insured bank accounts for USD balances. You can fund your account through wire transfers or ACH transfers.
Now, when it comes to storing your crypto, you have two choices. If you’re new to the game, you can go for the custodial option. This means Coinbase takes care of your private keys. But if you’re an experienced user who wants full control over your funds, the non-custodial option is the way to go.
But like everything in life, there are a few downsides to Coinbase. Their trading fees can be on the high side, ranging from 0% to 0.60%. Some users have also raised concerns about customer support and unexpected account closures, which have affected the exchange’s reputation. On top of that, the SEC has raised questions about whether Coinbase was operating as an unregistered securities exchange.
- User-friendly interface.
- Supports more than 250 cryptocurrencies.
- Two-factor authentication security.
- Ability to recover stolen or lost assets.
- Similar security issues and vulnerabilities to other hot storage options.
- Is often targeted by SEC.
Ranked third in terms of volume Kraken was established back in 2011 and has earned itself a stellar reputation as a top-notch global cryptocurrency exchange. This San Francisco-based exchange offers a wide selection of over 200 cryptocurrencies for buying, selling, and safekeeping. And when it comes to fees, they have something for everyone.
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Kraken operates on two fronts: the primary platform and the feature-packed Kraken Pro. The Pro version is where the real action happens, featuring customizable chart analysis tools, detailed order book insights, 13 order types, and lightning-fast execution. If you’re into spot trading, margin trading, or crypto derivatives, this is your playground.
Now, about those fees. On the primary platform, instant buy fees can be on the higher side, reaching up to 1.5%. But if you’re on Kraken Pro and you’re a high-volume trader (with 30-day volumes exceeding $10 million), you’re in for a treat. Maker fees can drop all the way to 0%, and taker fees can dip to 0.10%.
- Rock-solid security with two-factor authentication and cold storage for your funds.
- A broad selection of more than 120 cryptocurrencies.
- Supports fiat currencies, making it easy to get started.
- Known for having commendable liquidity.
- Some users might find the user interface less intuitive.
- Customer support can be a bit slow in responses.
- It’s not available in all countries due to stringent verification processes.
Kucoin is your go-to place for getting in on newly launched crypto projects. They’ve got a vast selection of over 700 altcoins, making it an ideal choice for building a diverse portfolio. Kucoin even spices things up with trading competitions for freshly listed coins, which can give those projects a nice boost. It is the fourth-largest exchange in terms of volume. It’s no wonder that Kucoin has garnered a user base of over 20 million global investors.
But that’s not all. Kucoin shines in the derivative trading department too, offering options like USD-margined contracts, futures, and leverage tokens. And if you’re into earning passively, they’ve got you covered with lending tools that let you set your own terms, including the number of days and the interest rate.
Now, let’s talk fees. Commissions start at 0.1% per trade, but here’s the sweet part, if you use KCS tokens to pay your fees, you get a 20% discount. KCS is the native crypto token that powers the Kucoin exchange. You can make instant deposits with debit/credit cards and e-wallets, but remember that the fee isn’t displayed until you’re about to confirm your order, so be sure to check it out before finalizing.
- A fantastic choice for getting your hands on new cryptocurrencies.
- Supports an extensive range of over 700 altcoins.
- Offers derivative trading options and various earning tools.
- Provides a Web3 wallet for iOS, Android, and Google Chrome.
- Fees for fiat money deposits aren’t shown until you’re ready to confirm your order.
Bybit, founded in 2018, is a specialized platform designed for derivatives trading. With more than 10 million registered users, it’s a significant player in the crypto space. It is currently ranked 5th in terms of volume but is only second to Binance when it comes to derivatives volume.
On Bybit, you can dive into perpetual and futures contracts. They’ve also rolled out a pilot for spot trading, which will soon be available to all users.
Here’s a perk: Bybit welcomes you with a joining bonus of up to $90, which you can use for margin trading. Plus, the fees here are among the lowest in the game. Not to mention, it’s a no-KYC exchange, but if you want to use third-party services like fiat trading, you’ll need to complete your KYC on the platform.
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What sets Bybit apart is its substantial market depth and liquidity, making it an excellent choice for margin trading. They offer margins of up to 100x, and they’ve got insurance funds to help you recover losses if your trading goes south.
For most of your trading needs, the Bybit mobile app is where it’s at. It’s known for its blazing-fast trading engine, and it’s one of the fastest-growing margin trading crypto exchanges.
Bybit is user-friendly, even for those new to leverage trading. Their 24*7 multi-lingual customer support is highly regarded, making it one of the best in the industry. Bybit is headquartered in Singapore but has offices in various countries.
- Excellent customer service.
- Offers high liquidity.
- Simple interface that’s easy to use.
- Great mobile app.
- A generous sign-up bonus.
- Low fees.
- Doesn’t accept US traders.
OKX, currently ranked as the sixth largest crypto platform by trading volume, offers a wealth of trading services without the frills.
At the core of OKX is a crypto spot trading platform that keeps fees delightfully low. With just 0.1% on each buy-and-sell order, it’s one of the most cost-effective options. What’s even better, those fees drop further when traders reach 30-day trading volume milestones.
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But that’s not all. If you dive into the world of OKX’s decentralized exchange (DEX), you’ll find thousands of additional tokens, including some of the best low-cap cryptocurrencies. OKX goes beyond spot trading, offering advanced products like perpetual swaps, futures, and options, which allow leverage and short-selling orders. Even here, the fees remain competitive, starting at just 0.05% per trade.
OKX also shines in the realm of passive income. Traders can purchase Bitcoin and park it in a savings account, earning an impressive APY of 5%. Tokens like Near Protocol and Elrond offer even higher yields, hitting 35.5% and 36%, respectively.
Staking enthusiasts will find OKX appealing too, as it doubles as a crypto-staking platform. There are different staking terms, ranging from 0 days to three months. Plus, there’s an OKX crypto wallet app, ensuring you have control over your private keys.
OKX isn’t just for traders; it’s also for analysts. You get charting timeframes from one second to three months, drawing tools, and integration with TradingView. Moreover, it’s smartphone-friendly, so you can trade on the move. And if speed matters to you, OKX is known for processing crypto withdrawals in under five minutes in most cases.
- Spot trade over 370 cryptocurrencies at a mere 0.1% fee.
- Earn high yields through crypto savings accounts and staking.
- A proprietary wallet with noncustodial storage.
- Trade crypto derivatives, including futures and options.
- Fiat deposit fees aren’t displayed until you’re creating your order.
Bitstamp is a solid choice for casual investors seeking to trade small amounts of cryptocurrency. What sets it apart is that for monthly trading volumes under $1,000, there are no commissions to worry about. If you find yourself trading over $1,000 in a month, your fees will range from 0.4% to 0.03%, depending on your trading volume. As per Coinmarketcap, Bitstamp currently ranks 7th in terms of trading volume.
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However, if you opt for debit/credit card payments, you’ll incur a 4% charge based on the transaction amount. This applies to other payment methods like Google Pay, Apple Pay, and Paypal as well.
Bitstamp has been around since 2011, making it a trusted name in the crypto exchange world. Notably, they keep 95% of client digital assets in cold storage, which adds an extra layer of security.
Traders will find a selection of over 80 cryptocurrencies at Bitstamp, including big names like Bitcoin, Cardano, Solana, Ripple, and Polygon. Plus, it’s a top choice for mobile trading, offering two proprietary apps—one for basic trading and another for professional traders.
- Trading commissions start at 0% for lower volumes.
- Established in 2011, it’s a reliable exchange.
- Supports over 80 cryptocurrencies.
- No fees on local bank payments, including ACH.
- A 4% charge on debit/credit card and e-wallet payments.
- Monthly trading volumes over $1,000 come with a 0.4% commission.
Gemini, established in 2014 by the Winklevoss brothers, stands out for its unwavering commitment to security and compliance. Situated in New York, this exchange takes user fund protection seriously, offering hot wallet insurance in case of a security breach. This emphasis on security makes it one of the top US-based crypto exchanges.
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To fortify security further, Gemini champions two-factor authentication and allows users to review and approve devices used for account access. Its SOC 2 certification, verified by third-party experts, adds extra layers of confidence in its security and compliance practices.
Gemini caters to advanced traders with a professional-grade trading dashboard and a portfolio of more than 80 tokens and digital currencies. Additionally, it offers a cryptocurrency reward card, letting users spend their crypto on various goods and services.
However, it’s worth noting that Gemini applies different fee structures for its active trader platform and its main platform. The main platform features a fixed fee for smaller trades and imposes a 1.49% fee on trades exceeding $200. In contrast, the active trader platform utilizes maker-taker fees, which start at up to 0.4% and decrease as your trading volume goes up.
- Top-notch security with a focus on user fund protection.
- Supports over 100 cryptocurrencies.
- Strong emphasis on two-factor authentication.
- Utilizes cold storage for safeguarding funds.
- Regulated exchange, adding to its trustworthiness.
- User-friendly interface.
- Supports a variety of fiat currencies.
- Offers a limited selection of cryptocurrencies.
- Trading fees are relatively higher compared to some other platforms.
- Availability of services may be limited in some countries.
- Some users have reported slower customer support responses.
Crypto.com, established in 2016, has established itself as a significant global crypto exchange. It’s not limited to one corner of the world; it’s accessible in a whopping 90 countries and supports a vast selection of over 250 cryptocurrencies.
But what truly sets Crypto.com apart is its extensive digital asset ecosystem. It’s not just about trading. It’s about Crypto.org Chain, their very own blockchain, and a native coin named CRO, and much more.
One of its shining gems is its mobile app. Unlike other exchanges with basic apps, Crypto.com invested in creating a robust mobile application that covers a wide range of features. This commitment to mobile accessibility makes it stand out as one of the best crypto exchanges, especially in the US.
However, it’s not all roses. While Crypto.com offers a diverse range of services, customer support may not meet everyone’s expectations. Additionally, for traders with lower volumes, the trading fees can go up to 0.075%, which might be on the higher side.
- Offers a diverse range of services.
- Crypto rewards and cashback programs.
- User-friendly interface.
- Crypto Earn feature for earning interest on your crypto holdings.
- Limited availability in some countries.
- Higher trading fees.
- Custodial wallet.
- Customer support concerns.
Poloniex is another notable cryptocurrency exchange that stands out with its low trading fees and a vast selection of over 400 supported cryptocurrencies.
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One of its key attributes is its decentralized nature, offering users independence from centralized control. The platform offers a range of valuable features, including margin trading, lending, and a variety of other crypto products, making it a strong contender among the best crypto exchanges in the USA.
With a slew of benefits, Poloniex is well-equipped to cater to the needs of numerous crypto traders.
- Supports over 350 cryptocurrencies.
- High liquidity for smooth trading.
- Offers margin trading.
- Equipped with advanced charting tools.
- Customer support can be problematic.
- Security concerns have been raised.
- Limited support for fiat transactions.
- Account verification delays may occur.
In conclusion, each crypto exchange comes with its own set of advantages and drawbacks. These platforms serve the needs of both casual investors and experienced traders. From the extensive list of supported cryptocurrencies to security measures and fees, choosing the right exchange depends on individual preferences and requirements. Rest assured; these are exchanges with high trading volume. It’s essential for users to conduct thorough research and consider factors like security, fees, customer support, and available features when selecting the exchange that aligns best with their goals and location.
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