Top 15 Cryptocurrency Exchanges to Watch in 2023
Cryptocurrency exchanges are essential for investors who would like to trade or invest in virtual currencies. When choosing a crypto exchange, it’s important to look at the features, supported cryptocurrencies, and security practices. Let’s look at the top 15 crypto exchange platforms and their features:
Binance
Coinbase
Bybit
Kraken
KuCoin
HTX
OKX
Bitfinex
Crypto.com
Poloniex
BingX
EXMO
Bitvavo
HitBTC
One Trading
Binance
Binance is the leading crypto exchange platform, and it’s suitable for both beginners and experienced traders.
Besides charging low fees in general, it does not charge any fees in P2P trading.
Supported cryptocurrency markets: Over 500
Fee structure: Binance charges 0.1% for spot trading. There are no fees for depositing funds. Withdrawals charges depend on factors like network congestion.
Security measures: Binance enables 2FA authentication. It’ss FDIC-insured and also provides advanced features like wallet address whitelisting and device management.
Coinbase
Coinbase is the best crypto exchange for beginners. It provides excellent features along with offering robust security for users’ funds.
Supported cryptocurrency markets: Over 100
Fee structure: Fees vary from 0.5% to 4.5% depending on factors like payment method, crypto type, transaction size, and market conditions like volatility and liquidity.
Security measures: Uses cold storage for users’ funds. It enables 2FA authentication and secures the users’ wallets with 256-bit AES encryption.
Bybit
Bybit is a crypto derivatives exchange that allows users to trade with 100x leverage on certain assets.
The platform also makes it possible to trade quarterly future contracts. Bybit is capable of 100,000 TPS, which is impressive for the users interested in leverage trading.
Supported cryptocurrency markets: 20
Fee structure: The trading fee starts at 0.1% and varies based on the level of users and type of trading. It charges 0.0005 BTC per BTC withdrawal. Bybit does not accept any fiat deposits.
Security measures: It enables 2FA and the website is SSL encrypted. Bybit stores a majority of funds in a multi-signature cold wallet.
Kraken
Kraken crypto exchange is popular for its security practices and high liquidity. It has an impressive customer support system and holds the title of “the most reliable crypto exchange”.
Supported cryptocurrency markets: Over 100
Fee structure: Fees vary from 0% to 0.26% based on currency pair, last 30-day volume, and market order.
Security measures: Kraken enables 2FA authentication and its browser is encrypted with SSL.
KuCoin
Kucoin's crypto exchange is a great option for advanced crypto traders. It offers custom trading bots so that users can automate their investing.
Supported cryptocurrency markets: Over 500
Fee structure: Trading fees vary from 0.07% to 0.1% based on the last 30-day volume. KuCoin charges 3.5% to 5% fees for deposits and withdrawal fee changes based on several factors, like crypto type.
Security measures: It uses multilayer encryption, dynamic multi-factor authentication. The micro-withdrawal wallets used by KuCoin increase its security.
HTX
The HTX crypto exchange offers deep liquidity for popular trading pairs like ETH/USDT and BTC/USDT. It also has a P2P trading feature that charges no transaction fees.
Supported cryptocurrency markets: Over 400
Fee structure: Trading fees start at 0.0362% and vary as per the last 30-day volume, HT holdings, and the level of traders.
Security measures: Huobi stores funds in multi-signature cold wallets. It holds a distributed ledger technology provider license from GFSC. Huobi has a security reserve fund to cope with extreme situations.
OKX
OKX is an innovative crypto exchange. Apart from trading and staking services, it allows users to mine cryptocurrencies. OKX also provides multiple order types, margin trading, and futures trading.
Supported cryptocurrency markets: Over 100
Fee structure: trading fees start at 0.15 and increase based on the last 30-day volume and the level of users. OKX does not charge any fees for deposits and withdrawal fees vary based on multiple factors, like crypto type.
Security measures: OKX enables 2FA authentication and uses the Rivetz authenticator for security. It uses cold storage to keep users’ funds secure.
Bitfinex
Bitfinex crypto exchange is suited for experienced traders as it has advanced features like margin trading and crypto lending.
Supported cryptocurrency markets: Around 150
Fee structure: Trading fees start at 0.1%. Users holding LEO tokens can get discounts on fees.
Security measures: Bitfinex enables 2FA authentication and uses advanced APIs, as well as withdrawal protection features. It also uses cold storage for users’ funds.
Crypto.com
Crypto.com's exchange supports a variety of cryptocurrencies and also allows the buying and selling of crypto with over 20 fiat currencies. Besides charging low fees, it offers a discount to customers who hold Crypto.com coins (CRO).
Supported cryptocurrency markets: Over 200
Fee structure: Crypto.com charges are as low as 0.4% for a monthly trading volume less than $25,000.
Security measures: Crypto.com is FDIC-insured. It enables 2FA authentication and uses cold storage and a bug bounty program.
Poloniex
Poloniex crypto exchange is headquartered in the Republic of Seychelles. The platform is known for low fees and discounts for high-volume traders. It also allows users to earn interest by lending funds.
Supported cryptocurrency markets: Over 250
Fee structure: The trading fee starts at 0.0145% for maker trades and 0.155% for taker trades if the last 30-day volume is less than $50,000. Users can get a discount by paying with Tron.
Security measures: It enables 2FA authentication and email authentication. The platform has a history of security problems. The exchange has been hacked twice already - once in 2014 and then in 2020 with hackers stealing about $4 million in Bitcoin.
BingX
BingX crypto exchange is a good choice for users who seek low fees and multiple order types. Apart from crypto-to-crypto trading, BingX offers fiat-to-crypto trading as well.
Supported cryptocurrency markets: Over 620
Fee structure: The maker and taker fees start at 0.1% and reduce based on the last 30-day volume.
Security measures: It enables 2FA authentication and also uses wallet and IP address whitelisting.
EXMO
EXMO cryptocurrency exchange offers its services in more than 200 countries around the world. It supports 5 different payment methods for deposits and withdrawals - crypto, bank transfer, Visa/Mastercard, AdvCash, and Payeer.
Supported cryptocurrency markets: Over 50
Fee structure: The trading fee is a flat 0.2%. The maker and taker charges vary based on volume. Deposit and withdrawal fees vary based on payment methods and type of currency.
Security measures: It enables 2FA authentication for the users. EXMO also allows them to create a list of the trusted IP addresses that can log into the account.
Bitvavo
Bitvavo cryptocurrency exchange is suitable for both beginner and experienced traders. Experienced traders benefit from its advanced features like multiple order types. Bitvavo also offers tailor-made services for institutional investors and crypto funds.
Supported cryptocurrency markets: Over 50
Fee structure: The maker fee starts at 0.15% and the taker fee starts at 0.25% and reduces based on trading volume.
Security measures: Bitvavo provides 2FA authentication, IP and addresses whitelisting, and permission-based access for security. A majority of the users’ funds are stored in cold storage.
HitBTC
HitBTC crypto exchange is a multi-currency digital exchange. It offers more than 800 cryptocurrency trading pairs and has an easy-to-use interface.
Supported cryptocurrency markets: Over 400
Fee structure: The trading fee starts at 0.2%. It varies based on the last 30-day volume and the average token balance in the last 30 days.
Security measures: HitBTC offers 2FA authentication, advanced encryption technology, and cold storage.
One Trading
One Trading crypto exchange is formerly known as Bitpanda Pro. Having one of the cleanest interfaces, One Trading is the best choice for new investors. It is one of the cheapest exchanges for the instant buying/selling of Bitcoin.
Supported cryptocurrency markets: Over 20
Fee structure: The maker and taker fees can be as low as 0.05% and vary based on trading volume. The max maker fee is 0.1% and the maximum take fee is 0.15%.
Security measures: It enables 2FA authentication for the users. It stores funds in secure offline wallets using state-of-the-art technology.
Users should research potential platforms thoroughly before they choose an exchange. Traders will find the best fit when they select a crypto exchange based on their present condition and level of understanding of the crypto market.
Curious about the status of your exchanges? Check it out here
