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!
Latest 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.
Emma
WhiteBIT caters to the European market with a sleek interface and support for multiple fiat currencies. Trading fees start at 0.1% and can be reduced by using the native WBT token. The exchange offers an interesting mix of services, including a P2P platform and margin trading with up to 5x leverage. While WhiteBIT's selection of cryptocurrencies is not as extensive as some larger exchanges, it compensates with unique features like the WhiteBIT Code for instant fee-free transfers between users. The referral program and regular trading competitions provide additional earning potential.
Sarah
OKX impresses with its competitive fee structure, starting at 0.08% for makers and 0.10% for takers, which can be further reduced by holding OKB tokens. The exchange stands out with its comprehensive DeFi offerings, including a DEX aggregator and an NFT marketplace. OKX's Earn program provides attractive APYs for staking and savings products, some reaching up to 100% for specific promotional periods. The platform's regular trading competitions and airdrops offer additional opportunities for savvy traders to boost their earnings.
Raj
Bitget's integration with traditional banking is seamless. It makes entering the crypto world less intimidating.
Hassan
Kraken's security measures give me peace of mind. I feel my assets are well-protected here.
Sophie
Bitfinex, known for its social trading features, offers competitive fees starting at 0.1% for spot trading. Their copy trading feature allows novice traders to follow experienced traders' strategies. Bitfinex's staking program provides opportunities to earn passive income, with some assets offering up to 30% APY during promotional periods. The platform's innovative approach to trading and user engagement sets it apart in the crowded exchange market.
David
WhiteBIT impresses with its low fee structure, starting at 0.1% for both makers and takers. The exchange offers a 25% discount on trading fees when paid in their native WBT token. Their "Smart Staking" feature provides attractive interest rates, with some assets offering up to 30% APY for short-term promotions. WhiteBIT's margin trading feature, with leverage up to 20x, appeals to more experienced traders.
Sarah
Primexbt offers a competitive fee structure with base rates of 0.125% for makers and 0.145% for takers. High-volume traders can see these fees drop to as low as 0% for makers and 0.1% for takers. Their lending feature allows users to earn interest on idle assets, with rates varying based on market demand. While not as extensive as some competitors, Primexbt's staking options provide decent returns on select cryptocurrencies.
Isabella
HTX provides a tiered fee structure with base rates of 0.2% for both makers and takers. Holding their HT token can result in trading fee discounts. Their Crypto Savings product offers both flexible and fixed-term options, with interest rates varying by asset and term length.
Olivia
Kraken's fee schedule starts at 0.16% for makers and 0.26% for takers, with discounts for high-volume traders. Their Staking service allows users to earn rewards on proof-of-stake cryptocurrencies, with rates varying by asset but potentially reaching up to 20% for some tokens.
Alex
Huobi's tiered fee system rewards high-volume traders nicely. The additional discounts for HT token holders make it even more attractive for frequent traders.
