Which Cryptocurrency Exchange/Broker is the best? Table of Contents
Comparison of the best cryptocurrency exchanges
Currency markets are an established tool that has long been offering top traders the chance to earn money, but the advent of cryptocurrencies has made the overall picture even more interesting! The novelty represented by cryptocurrencies and the rapid increase in the value of bitcoin and altcoins demonstrates how traders can make huge gains by trading cryptocurrencies.
To trade with cryptocurrencies, you no longer need to be an industry expert.
There are in fact numerous platforms to operate on online cryptocurrencies and they all differ in different characteristics.
The ideal cryptocurrency exchange must offer low rates, high multipliers, and a wide range of currencies to diversify the portfolio, as well as the ability to easily buy new cryptocurrencies with fiat currencies.
Character this extremely important.
To help traders discover the best cryptocurrency exchange, let’s take a look at the 10 most popular cryptocurrency exchange platforms, comparing their key points:
1. Binance
Let’s start with the largest cryptocurrency exchange in the world, Binance.
Binance is one of the most widespread and popular platforms that allows users to hold their own currency, Binance coin (BNB), with a discount on cryptocurrency payments.
In addition to this opportunity, Binance offers over 140 cryptocurrencies, such as Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, EOS, DASH, Litecoin, NEO, GAS, ZCash, Ripple, and many more.
The exchange of these currencies is subject to a 0.1% fee.
Binance has also introduced a user security tool, the SAFU (Secure Asset Fund for Users), which collects 10% of all commissions earned by the exchange in order to reimburse users in case of difficulty.
The mechanism was introduced after the company’s cyberattack in May 2019, when users were reimbursed for stolen funds.
Although very popular, Binance has limitations compared to its competitors with regard to trading on margin, its multiplier of 125x is in fact rather contained.
Even the tiered system that divides traders into ‘beginner’ and ‘advanced,’ may seem too restrictive or complex for new users.
Go to Binance’s Official Website
2. Kraken
Kraken, founded in 2011 by Jesse Powell, is not an exchange dedicated exclusively to cryptocurrencies, in fact, it also allows the exchange of fiat currencies, such as euros, yen, USD, pounds, etc.
Kraken supports over 17 cryptocurrencies, such as bitcoin, bitcoin cash, bitcoin SV, Cardano, DASH, Dogecoin, EOS, Ethereum, classic Ethereum, Litecoin, Monero, ripple, tether, Zcash, and much more.
While this operator offers high liquidity and attractive options on fiat currencies, users need to pay close attention to the rates, which can go as high as 0.26%.
Kraken has also received several criticisms from users due to an unintuitive and slow interface in processing transactions, as well as for the arbitrary closure of some accounts without any explanation.
Margin trading is limited to 5x leverage.
3. BitMex
BitMex, Bitcoin Mercantile Exchange, is a Hong Kong-based company and a leading global cryptocurrency exchange platform.
As the name suggests, this company mainly trades in bitcoin, the leading cryptocurrency by market share.
Among the other supported currencies, there are bitcoin cash, Cardano, Ethereum, Litecoin, EOS, and ripple, but it must be said that the trading conditions applied to altcoins are more unfavorable than those provided for bitcoins.
Although BitMex offers leveraged contracts and trading on margin, its limited operation mainly focused on bitcoins makes it a poor trader for traders who intend to diversify their portfolios.
Furthermore, BitMex is not available in the US and therefore does not accept payments from users located in this country.
4. Huobi
Huobi is based in China and supports a large number of cryptocurrencies, around 250! Huobi operates two distinct platforms: Huobi OTC (which allows cryptocurrency trading with fiat currencies) and Huobi Pro (which offers more advanced trading features).
Fees are low but variable, based on trading volume.
Huobi is very popular, but mainly targets the South Asian market with limited development in the regions served by the global version.
This is probably in order to avoid more stringent regulatory rules or consumer controls.
Huobi has in the past been accused of falsifying data on its trading volumes.
5. Bybit
Bybit is a relatively new platform for trading cryptocurrency derivatives, as it was only founded in March 2018.
It has its headquarters in Singapore and other offices in Hong Kong and Taiwan.
However, it offers its services worldwide with 24/7 assistance in various languages.
Currency pairs available for trading on Bybit include perpetual contracts on BTC / USD, ETH / USD, XRP / USD, and EOS / USD.
It should be noted that only BTCs are tradable with 100x leverage.
All other pairs are only available with 50x leverage.
Furthermore, the platform does not allow the deposit of fiat currencies for trading.
6. Deribit
Deribit is an exchange platform offering European fiat currencies and bitcoin futures with 100x leverage. It also includes risk management functions that favor the settlement of higher maintenance accounts over small denomination assets.
The BTC Deribit index takes the prices of various exchanges and averages them to calculate its current value.
The fees charged are 0.25%, but the settlement rates are higher.
Deribit charges fees on withdrawals and their processing times can be longer than those of other exchanges.
This is because, for security reasons, Deribit keeps most cryptocurrency assets in cold storage mode.
7. Coinbase Pro
Coinbase Pro is an established name with strong official backing.
This US-based company was founded in 2012, making it one of the longest-running cryptocurrency exchange platforms.
A major benefit is that this company is insured by the New York Stock Exchange and Andreessen Horowitz, as well as being fully regulated in the United States.
The supported currencies include BTC, ETH, BCH, LTC, ETH, ZRX and BAT, while the platform offers numerous trading functions.
However, Coinbase Pro’s offering is still not big enough for traders who want to trade on a wide range of altcoins.
While buying cryptocurrencies with credit cards is instant, buying with bank transfers can take up to 5 days.
There is also a suspicion that Coinbase is able to track how users spend their cryptocurrencies.
8. Bitstamp
Another early cryptocurrency exchange (founded in 2011) is Bitstamp, headquartered in Slovenia with offices in New York and Luxembourg.
It is a licensed exchange issued by the Luxembourg Ministry of Finance.
The verification process required by Birìtstamp is quite long and laborious, as it requires the submission of a photo ID.
The initial rates applied by Bitstamp are relatively low (0.05% on international wire transfers and 0.09% on international withdrawals), but the charging system is rather complex, so unless you operate with significantly high amounts, the commissions applied they can reach up to 0.075%.
The use of credit cards with Bitstamp is also subject to rather high rates (around 8%) for the sector.
The currencies available for cash deposits and withdrawals on Bitstamp include USD, EUR, bitcoin, Litecoin, Ethereum, Ripple, or bitcoin cash.
9. Bittrex
Bittrex is a US-based security-focused cryptocurrency exchange.
Its list offers over 190 cryptocurrencies available for operations.
Only cryptocurrency transactions are allowed and order processing times are very fast.
Users can have two types of accounts. The basic account allows the withdrawal of funds for no more than 3 bitcoins per day.
The advanced account allows the withdrawal of funds up to 100 bitcoins per day.
To withdraw their earnings from Bittrex, users must submit a valid ID, as well as a mobile number for authentication.
Bittrex users can define the prices of their trading operations.
To ensure operability, Bittrex charges a flat rate of 0.25% on each individual transaction as a service charge.
Bittrex has an excellent reputation for security but has been criticized in the past for poor customer service.
10. StormGain
Driven by the intent to make cryptocurrency trading easier and more profitable for everyone, StormGain offers a state-of-the-art platform for trading currency futures contracts.
Designed to provide opportunities for profit in both bull and bear markets, StormGain’s outstanding features allow you to trade the most popular cryptocurrency pairs with an amazing multiplier of up to 200x.
StormGain’s service has also been recognized as offering the best interest rate for investors.
Additionally, StormGain offers free swaps for daily trades, an intuitive app, and 24/7 multilingual customer support.
The fees charged are low and transparent, with no attempts to attract users with unlikely special conditions.
No fees apply on deposits and withdrawals. The main assets StormGain offers are bitcoin, bitcoin cash, Litecoin, Etherium, ripple, and USDT.
StormGain allows for easy use and smooth registration – you can register and start trading in seconds.
StormGain’s service also allows for the easy purchase of cryptocurrencies by credit card.
Everything is protected with 2-factor authentication and with the use of cold wallets for storing currencies.
StormGain with the best market conditions
Overall, StormGain offers the best conditions for cryptocurrency trading.
The rates applied are low, but above all their structure is easy to understand for experienced users and beginners.
The 200x multiplier StormGain offers is itself another deciding factor: ultimately StormGain’s clients can achieve the highest profits in the market for the risks they take.
You also have the ability to compare updated rates and leverage levels with those applied by StormGain’s competitors.
Added to this is the ease of registration. StormGain also offers numerous guidance tools, such as trading signals included in the app and an educational program taught by StormGain’s experts.
If you want to find out for yourself what StormGain has to offer compared to the competition, you can try it risk-free by opening a demo account of 50,000 USD in assets.
Or register now and start trading with a 200x multiplier right away!
Comment by Hans
April 24, 2024
as I am trading here various assets, for me it's the most important feature. i mean, flexibility in tradable markets. i alternate trading styles, meaning that sometimes I trad...