Today there are many crypto exchanges running around the world. But what are the best crypto exchanges? What features define a good crypto exchange? In this article we are going to introduce the best crypto exchanges in year 2020 and we will also tell you why they have been chosen for our list.
Best Crypto exchanges
In today’s world cryptocurrencies are on an increasing basis of popularity. Therefore, there are many crypto exchanges which are getting larger in number every day. But the question is, how are we going to identify a good exchange and trust it with our data and assets?
A crypto exchange is an online platform on which the active members of crypto world can trade their cryptocurrencies.
Before its late, read the article on what is cryptocurrency if you have no idea what we are talking about.
How to identify a good crypto exchange?
There shall be fixed standards for a crypto exchange to be labeled as good so that we can trust them with our money.
One of the most important standards of a crypto exchange is security. Security is the most important feature of a crypto exchange since millions of dollars from all around the word are being stored or traded in them. There are exchange cases which have been hacked and robbed heavily and led the exchange into bankruptcy. It is safe to say that the best crypto exchange is the safest one! But there are other criteria that you might want to consider before choosing one.
The next important feature is transaction fee. As you may know, one of cryptocurrency’s important feature is their low transaction fee. Each exchange receives a specific amount for any transaction that is completed on their platform as their transaction fee. It is obvious that the lower the fee, the better the exchange in the eye of traders! So, transaction fee is another important issue to consider when choosing a crypto exchange.
User interface and simplicity of the platform is another issue which is important for users. The best crypto exchanges spend a lot of time and energy in order to provide all services in their simplest form while keeping the appearance up!
Next we will discuss the best crypto exchanges according to the criteria discussed above.
Important elements to consider when identifying a trusted crypto exchange:
- Check its domain validity
- Check the domain in websites like scam advisor or trust pilot or see if they are listed scam or not
- When checking a crypto exchange, do not click on online links
- Ask previous or current users and investors of the exchange to see how valid it is
- Check its market cap and validity in crypto market
- Check the developer team of the exchange along with the technology used in it
- Who are the investors of the exchange and how much they have invested?
- Check the addresses where Bitcoins are stored
- Check its website, blog, and social networks to make sure that the exchange is currently active.
Coin Base Pro crypto exchange
Coin base pro is one of the first crypto exchanges that was first established in San Francisco in 2012. The value of this crypto exchange is estimated around one billion dollars. Competitive prices, simple user interface and perfect trading options are amongst its best features. Its daily trading volume exceeds 300 million dollars where more than 25 different cryptocurrencies can be traded through 62 two different types of crypto pairs. Its Alexa rank in US is below 700 where it is mostly used. It is both centralized and decentralized according to many options that it makes available for its users.
Some features of coin base crypto exchange:
- Low transaction fee
- Accepting credit cards or banking payments
- High level of security and popularity
- Covering stored coins by coin base insurance
- Supporting stable coins such as DAI and USDC
- Limited payment methods
- Not very accurate site supprot
Binance crypto exchange
Binance is world’s biggest crypto exchange which is known as a financial ecosystem, a big crypto exchange and a strong wallet and also offers its own unique token named binance coin (BNB). Binance crypto exchange supports more than 130 digital currencies and owns the best crypto exchange application! Binance was first a centralized exchange only, but it has added a decentralized section to its exchange which is called binance dex. Binance dex also covers a large amount of market cap.
Important features of Binance crypto exchange:
- Providing a safe box for users’ assets named Binance SAFU. This box returns 10 percent of all transactions fees if hacked!
- Having its own unique coin, Binance coin (BNB). This coin provides users with lower transaction fees.
Bitrex Crypto Exchange
Bitrex is a crypto platform on which more than 250 cryptocurrencies can be traded. This exchange is also a medium between the buyer and the seller just like Binance. Bitrex is also centralized but they are considering opening up a decentralized bank.
Some important features of Bitrex crypto exchange:
- Owning one of the biggest Bitcoin market cap
- Ability to trade digital coins at desired prices by users
- Fast transactions’ confirmation
- Having two types of account: the main account with 2 BTC budget per day and the pro account with 100 BTC budget per day
Coinmama Crypto exchange
Coinmama is categorized as crypto exchanges that sell digital coins directly to users. This exchange is exclusively appropriate for those who want to buy cryptos directly and fast. Coinmama is also looking forward to having a decentralized crypto exchange!
Some important features of Coinmama crypto exchange:
- Well popularity
- Good and simple user interface
- Various payment methods
- Fast transaction
- High prices of cryptocurrencies
- Insurance fee
- Average site support
Aside from the ones that were introduced above, there are other crypto exchange that you may want to check out. I will briefly introduce them below:
Bitmex crypto exchange
Bitmex is one of the best crypto exchanges for trading bitcoin. This exchange owns one of the biggest digital assets in the world. there are also reports indicating that its trading volume has exceeded 2 Billion dollars in a day.
Caspinex is one of the most popular and trusted exchange around the world. This exchange supports more than 150 coins and has its own token named Caspian. Caspinex is good for those who want to trade daily. Caspinex can record around 1.5 billion dollars’ worth of bitcoin.
Kraken Crypto exchange
Kraken is also a good exchange for trading bitcoin which has started working since 2011, therefore it is considered old! This exchange is most popular due to having a section for trading fiat money like dollar or euro. They also co-operate with the first bitcoin bank in the world. It supports more than 17 cryptocurrencies and the transaction fees are very low.
This is a list of best crypto exchanges around the world. however, there are many more than offer you different features. Traders mostly consider the market cap and transaction fee of a crypto exchange. But the security of an exchange is the most important element when choosing an exchange to work with.
However, you may require some other features. The good news is that you can find at least one exchange that fit best to your criteria.