CRYPTOCURRENCY
EXCHANGES RATING
CRYPTO EXCHANGES
A cryptocurrency exchange is a platform where you can buy, sell, or exchange cryptocurrency. It is an online platform that allows you to track real-time cryptocurrency quotes online and profit from buying and selling digital assets.
The first cryptocurrency exchange was created back in 2009, where the first purchase of BTC for US dollars took place. At that time, it was an amateur project, as bitcoin was not yet that popular. Then, exchanges appeared in a more familiar sense to us, where it was already possible to exchange cryptocurrency at a fixed rate.
As the cryptocurrency market developed, the need for platforms where not only could one buy or sell digital coins but also earn money from it grew. Thus, modern cryptocurrency exchanges emerged - with trading platforms and tools for professional trading.
Types of Cryptocurrency Exchanges
Cryptocurrency exchanges are divided into 2 types:
The largest and most well-known exchanges are centralized, such as Coinbase or Binance. Their operating principle is largely similar to traditional stock exchanges: the client opens an account and deposits funds, from which they conduct transactions to buy and sell coins. These exchanges are used for "cryptocurrency - fiat" (and vice versa), "cryptocurrency - cryptocurrency" transactions.
Decentralized exchanges differ in that they do not have a single center of control. The client's funds are stored not on the company's accounts but on their own crypto wallet. They are built on the principle of peer-to-peer exchange: the service does not hold crypto assets, all transactions are carried out directly between users (buyer and seller) on smart contracts or atomic swaps.
Which exchange is better to choose?
Today, there are several hundred crypto exchanges, and it is not easy for traders, especially beginners, to decide which one to choose. Here are the top main criteria to pay attention to:
Reliability
Unfortunately, not all companies in the crypto market deserve trust. There are scammers, phishing sites, and poorly secured exchanges, often subject to hacker attacks. Before registering on a crypto platform, check its security systems to ensure the confidentiality of your finances and personal data. Pay attention to whether the platform has two-factor authentication when logging into an account (reliable exchanges do).
Regulated exchanges are considered the safest (although they have higher fees). If you want to find such a platform, visit the "Regulated Exchanges" section of the site.
Fees
Each crypto exchange charges a specific fee for depositing funds, withdrawing funds, trading, and other financial operations. However, there are exchanges where you can save on fees thanks to special offers for clients.
Margin trading
If your goal is not just to buy cryptocurrency or exchange it for regular money, but to make money on the difference in exchange rates, then you should choose exchanges with margin trading options. Margin, or leverage, allows you to use the exchange's borrowed capital in trading to increase the volume of your transactions and, consequently, get more profit.
Trading tools
If you are new to crypto trading, you will need exchanges with a demo account. If you have experience, you will probably prefer an exchange with a good arsenal of analytical tools. Also, find out if the exchange has the cryptocurrency you want to buy or sell.
Choosing an exchange on your own can take several weeks. But with Wellcrypto, you can do it in just a couple of hours! That's because our experts have already done the most difficult work for you: they have checked the platforms for reliability and compiled a detailed "resume" for each crypto exchange.
Choose any exchange in the rating and click "More" - you will see the main advantages of the platform. And if you click on the project name itself, you will go to a page with a detailed description, where the following are indicated:
- Pros and cons of the exchange
- Overall rating score and scores for each indicator (e.g., fees, customer support, regulation, etc.)
- Trading conditions, deposit methods, account types, etc.
Probably nowhere else will you find such comprehensive and objective information about popular cryptocurrency exchanges as in the reviews from Wellcrypto specialists. Use our work for profitable and comfortable trading!
How to Start Trading on a Cryptocurrency Exchange
Expert conclusion
You should approach the choice of a cryptocurrency exchange where you can quickly, reliably, and most profitably carry out transactions with cryptocurrencies responsibly. You need to take many factors into account (from checking the site for security to user reviews) to find the optimal option.
If you want to simplify the process and not make a mistake in choosing, which will largely determine the result of your trading, use our rating. And to find out which exchanges are the leaders in this year's rating? We recommend checking out the "Best Cryptocurrency Exchanges 2023" section.
Wellcrypto experts have collected the most useful information about the top exchanges, as well as placed quick links for direct secure access to cryptocurrency exchange websites. Choose, trade, and earn!
Reviews on cryptocurrency exchanges
Below you can familiarize yourself with the latest reviews on crypto exchanges, left by clients of trading platforms. We inform you that all reviews have been moderated by our experts, therefore they represent an objective assessment of the work of cryptocurrency exchanges presented in our rating.
Leave a review about your interaction with any exchange from our list, where you already have an account opened or have already traded, and thus you will help to form a more objective and realistic picture of the work of each crypto exchange.
HELEN
They would sound real and smooth at first, after paying they always wanted me to pay more. When I suspected foul play I requested to get all my money back but they locked me out of my account. None of my mails got a response. They are thieves, I almost gave up, my only saving grace was the ULTIMATE RECOVERY TEAM who have great cryptographers & hackers. I came online via various crypto forums and blogs. They did a great job in recovering my money and exposing some of them. Save yourself the stress today and reach out to them for safety measures compared to others. No Upfront due compared to others Email: ultimate>recovery>firm>@>gmail. com WhatsApp: .1............786........ 432............... 2178
Lawrence
BingX stands out for their copy trading platform, which is genuinely one of the best I've encountered. After this review pointed me toward their service, I've been following several traders with transparent track records and consistent returns. Their spot trading fees are competitive, and the grid trading bots work effectively in ranging markets. The mobile app is intuitive yet powerful with all desktop functionality available. Their demo account is excellent for practicing without risk. My only suggestion would be to expand their educational content, especially regarding risk management in copy trading. Has anyone tried their newer futures products?
Isabella
MEXC Global is a hidden gem among exchanges! Their strongest feature by far is early listings of promising projects - I've found several before they reached major exchanges. After reading about their Kickstarter events in this article, I participated in three launches with impressive returns. The spot trading interface is clean and responsive, and liquidity is good for most pairs. Their mobile app performs excellently even during high volume periods. Customer service responded within hours when I had a question. The MX token benefits are actually worthwhile if you trade regularly. Highly recommended as a supplementary exchange!
Cameron
HTX (formerly Huobi) deserves more recognition among Western traders. After reading this comprehensive review, I was particularly interested in their Prime pool for new token launches - participated in two projects with excellent returns. Their ecosystem is extensive with good staking options and trading competitions. The mobile app is one of the best I've used - fast, stable, with all necessary features. Trading fees are reasonable and can be further reduced with their token. The only negative has been some translation issues in parts of the interface. Would highly recommend as an alternative to the market leaders.
Rating
Bitfinex caters well to experienced traders with capital. The review accurately described their advanced trading tools and deep liquidity pools. Their margin funding market is unique and has provided me with consistent passive income. However, the verification process was indeed painful - took almost three weeks and multiple document submissions. The platform has a steep learning curve but rewards those who master it. Their mobile app is surprisingly comprehensive with almost all desktop functionality available. Would not recommend to beginners or for small trading amounts due to minimum requirements and complexity.
Zebulee Morrison
Orders execute fast, but theres some slippage during volatile news I saw... Support doesnt know??
Eleanor
WhiteBIT impressed me with their professional approach to security and compliance. After reading about their cold storage policy in this article, I did some research and found they take security seriously. Their Smart Staking with flexible terms is convenient, and the trading terminal has all the tools needed without being overwhelming. The WhiteBIT token actually provides meaningful benefits unlike some exchange tokens. Their mobile app is functional but could use some UI improvements. Trading competitions are engaging but extremely competitive. Customer support responded quickly to my inquiry which was a pleasant surprise in the crypto world.
Eleanor
OKX has evolved into a complete crypto ecosystem that rivals the biggest names. After reading this detailed analysis, I was particularly interested in their Web3 wallet integration - it's genuinely useful for connecting to DeFi protocols without switching apps. Their trading engine is lightning fast with minimal slippage, and the copy trading feature has connected me with some surprisingly consistent traders. The mobile app is robust and includes all desktop functionality. Their earn products consistently offer competitive rates, especially for stablecoins. The academy section provides genuinely useful education rather than just marketing.
Marcus
Coinbase is the McDonald's of crypto exchanges - recognizable, reliable, but overpriced. It's perfect for absolute beginners with its clean interface and educational content. This review rightfully praised their Learn and Earn program - I've made about $70 just answering simple quizzes. However, the regular Coinbase interface charges outrageous fees! After reading the article's tip about Coinbase Advanced Trading, I switched and saved tremendously on fees. Their security is industry-leading and the mobile app never crashes during volatility. Good starting exchange, but experienced users should look elsewhere unless they specifically need the fiat on-ramps.
Sophia
Crypto.com has seamlessly integrated crypto into my daily life. Their Visa card delivers exactly as promised - real cashback in CRO and useful perks like rebates. After reading this detailed review, I explored their DeFi wallet which connects nicely with various protocols. The main app is intuitive and beginner-friendly, though I agree with the article's point about higher spreads when buying directly - definitely use the Exchange app for better rates! Their Supercharger and Earn programs provide decent passive income options. The NFT platform is surprisingly user-friendly compared to others I've tried.
