Many still believe that crypto exchanges are for the elite businessmen who manage millions. In reality, everyone can earn money on trading. Age, gender, profession, and salary don’t matter. The biggest crypto services give the opportunity to make good money to everyone, and large savings are not necessary.

We will consider the TOP 10 of the biggest exchanges, as well as briefly analyze their benefits and disadvantages in this article. 

Binance

Binance is a newcomer to this market. It was created in 2017, quickly gained a strong position, and broke to the top. Recently, the founder of Binance expressed confidence that the exchange would operate solely on legal grounds and carry out honest settlements.

During the current cryptocurrency rally, trading volumes on Binance have broken the previous record. According to Coinmarketcap, the daily trading volume on Binance at the beginning of March 2021 was about $22 billion.

Pros and cons of the exchange

  • The lowest trading fees
  • High liquidity
  • Fast performance of translations
  • Reliable protection system
  • A large number of trading pairs
  • An opportunity to buy young tokens with high profits prospects

The Binance Launchpad service allows investing in young crypto projects running fundraising campaigns on this platform. Each verified user can apply for participation in the IEO of a new cryptocurrency. One may buy tokens at the starting price and resell them at a higher price once the new cryptocurrency is released for trading.

Poloniex

It is quite a large service. You can purchase almost all popular coins here. It started its operation in 2014 and soon reached the top by daily trading volume. Users appreciate it due to the wide variety of coin pairs. Good technical support stands out among other benefits. Despite the significant number of users, you can quickly resolve any problem via chat.

Bitfinex Exchange

The exchange was founded back in 2012 in Hong Kong. In the last bull market of 2017, Tether and Bitfinex were accused of manipulating the market and inflating the price of Bitcoin. The trial lasted 3 years, which had a negative impact on the whole market. They came to an agreement with the regulator only in early 2021. This was probably the biggest legal case in the crypto industry.

Bitfinex is available in three languages apart from English and includes all common crypto coins. Besides, its interface is simple and includes proper tools for technical analysis.

Bybit 

It works in a transparent and fair environment and offers crypto derivatives to its users. Today Bybit offers high speed of order execution, instant solving of problems, and fast swapping. Also, users note the lack of overloads or server failures. Among its main features, there are regular patches and updates, 24/7 customer support, profitable trading commissions (taker fee – 0.075%, maker fee – 0.025%), and an affiliate program. The exchange also provides a multi-signature wallet, a convenient trailing stop function, and fair pricing.

Kraken Exchange

This one also got into our list of top exchanges. It is a famous, giant site with loads of good reviews from users in various countries. The fee is 0.2%, and it decreases as the trade turnover grows. The service is available in English and Japanese only. The downside is that Kraken has fewer pairs than other sites listed.

Godex

Unlike all other platforms on this list of top cryptocurrency exchanges, Godex is a decentralized exchange. To start work on this service, you don’t need to register and provide your personal data. Moreover, the site does not require you to pass KYS verification. Thus, you maintain anonymity, and your funds are safe at the same time. To make an exchange, just select the cryptocurrencies you are interested in. The calculator will provide you with the current rate, choosing the best option for your deal all-around other popular exchanges. You have to enter the wallet address and pay for the application. The whole process of swapping takes from 5 to 30 minutes.

The platform has a list of almost all well-known and little-known cryptocurrencies. This way, you can create any crypto pair and swap the currencies in a matter of minutes. If you have never made an exchange transaction before, Godex is exactly what you need, as it proposes a user-friendly interface even a beginner can cope with.

CoinEx 

It was founded in 2017. The site proposes a wide range of tools. You will need to register to work on CoinEx. It is enough to enter an email address and confirm the account using a code the system will send to the specified e-mail.

Crypto exchange fees

The size of the commission depends on their user’s level. Operations on the spot market will cost 0.2000% of the total amount for those who don’t own CoinEx cryptocurrency. At the maximum level, with ≥1,000,000.00 CET on your balance, the fee will be 0.1000%.

Functionality and services

The project provides its own ecosystem. Besides the exchange, it includes a mining pool, an open CoinEx Chain network, and a decentralized multicurrency wallet ViaWallet. There are 356 trading pairs available on the exchange.

Huobi

It is one of the largest cryptocurrency exchanges. Here you can trade with your own funds, as well as use leverage. Besides, futures are available on the site. As of now, there are 831 trading pairs available on the exchange.

For ordinary users, the fee is 0.2% of the amount of the order. The higher the user’s trading volume, the lower the commission.

Bittrex 

It is another service for currency swapping. The Bittrex platform toolkit for convenient work with cryptocurrency is substantially superior to most of its counterparts. It is one of the safest and most feature-rich applications one can find today.

The basic trading commission is 0.25%. Large traders may get a reduced fee to 0% (provided a trade turnover of $40 million).

Bittrex has a user-friendly and modern interface with detailed data necessary for successful trading.

This platform is a good fit for traders who swap less popular cryptocurrencies.

Bitstamp 

The service has a rather simple interface. It helps beginners start trading quickly. At first, this exchange worked only with BTC, but not so long ago it became possible to trade XRP, ETH, LTC, BCH, XLM, Link, OMG Network, USD Coin, MKR, ZRX, and PAX. The commission for one action is up to 0.5% depending on your total trade volume.

Conclusion

The difference in approaches to trading forms the variety of choices. Some clients cherish anonymity most of all. Others want to be sure they will be reimbursed for losses in the case of a hack. Or you may be looking for solutions to work with derivatives. Each of the digital asset exchanges listed in this article has its own advantages and disadvantages depending on the needs of the user.

It is important to note that many platforms are simultaneously developing additional services and working on the creation of new technical solutions. That is why it is important to keep tabs on the market trends and news if you do not want to miss out on cool opportunities.