Understanding the world of cryptocurrency and how it’s traded can be intimidating and overwhelming at first. If you’re new to crypto trading, finding the right platform to buy and sell the popular players in the game, like Bitcoin, Ethereum, and Dogecoin will be extremely important. These days it seems like everyone is on the crypto bandwagon.
Whether you plan to trade crypto frequently or purchase and hold long-term, you want to use a platform that is both safe and secure. There is often news about people losing their money via cryptocurrency scams and hacks. You can avoid a nightmare scenario like that by using a trusted, established crypto exchange platform. You want to find trading platforms with a large selection of coins to trade, low transaction fees, margin trading, good customer support, and multiple crypto exchange tools and resources.
We’ve compiled a list of the best cryptocurrency exchanges that make it easy to safely invest in digital currency.
Best Crypto Exchanges: Overview
This cryptocurrency service allows you to automate your trading with its pre-built crypto bots. The company aims to create trading technologies, products, and standards throughout the industry. The HaasOnline automated crypto trading platform is easy to use, providing traders with robust trading algorithms that can be employed on numerous cryptocurrency exchanges.
Key Features
Crypto Trading Bots
The HaasOnline trading bots offer automated, integrated cryptocurrency trading strategies. The service allows you to refine your bots and set parameters based on how you wish to buy and sell crypto. Plus, you can establish technical indicators to recreate strategies or signals for future purchases.
Trade on Multiple Cryptocurrency Exchanges
HaasOnline has partnered with over a dozen cryptocurrency exchanges, like Bybit and Coinbase, allowing you to integrate automated trading strategies on some of the best crypto exchanges.
HaasOnline Pros
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No trading fees
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Unlimited trades
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No exchange restrictions on trade activity
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Bots can trade 24 hours a day, 7 days a week
HaasOnline Cons
LocalBitcoins is a decentralized cryptocurrency exchange. Unlike stock-like exchanges, this company allows users to trade directly with other users. People from all over the world can contribute and exchange their local currency for Bitcoin. Users are provided with a web wallet where you can send and receive Bitcoin transactions.
Key Features
Escrow Protections Available
The platform supports the LocalBitcoins community with escrow protection for every trade. This will ensure both the Bitcoins that are traded and user data are protected throughout the entire process.
Supports Multiple Payment Methods
The company aims to back its vast customer base, stemming from all areas of the world, with an inclusive payment setup. Most payment methods are accepted on the site, as LocalBitcoins hopes to support a wide range of user preferences.
Quick Trade Process
When trading crypto, the process can be lengthy and confusing. On this crypto exchange, however, trades take only a few minutes from start to finish.
LocalBitcoins Pros
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Person-to-person, decentralized crypto exchange site for Bitcoin
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No corporate overhead
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Enables financial accessibility in underserved regions of the world
LocalBitcoins Cons
KuCoin is one of the best cryptocurrency exchange services and a top platform in globalization deployment with over 8 million global users. KuCoin is on a mission to revolutionize the way we create and distribute value. The company believes crypto can facilitate the global free flow of digital value.
Key Features
Technology-Focused Products
KuCoin leverages technology-driven products to provide users with accessible services across the globe. This community-based approach helps more people get involved in cryptocurrency investing.
Community Approach
The leaders and developers within the company are eager to hear customer feedback and advice to integrate into future growth projects. They aim to respect all member’s personal finance goals, encouraging users to keep risk control in mind when dabbling crypto.
KuCoin Pros
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Ability to trade a wide range of crypto types
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Easy-to-use mobile app
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24/7 trades and customer support available
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High trading volumes
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Margin trading services for some of the best cryptocurrencies, like Bitcoin and Ethereum
KuCoin Cons
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Trading fees
Bybit was created in March of 2018 and is now one of the fastest growing and best crypto exchanges on the market. The service is committed to delivering a transparent, trusted, and effective trading environment to its 1.6 million registered users. The founders of the company come from foreign exchange and investment banking backgrounds. Now, the team combines industry-leading technology developers and financial and consumer technology experts to help innovate the cryptocurrency exchange space.
Trader-First Business Model
KuCoin puts a lot of time and energy into building a level of trust with its community of traders. The company does this through a reliable pricing mechanism with robust index price methodology, readily available real-time data, and a friendly, yet experienced customer service team on live chat 24/7.
Intuitive Trading Platform
You can trade confidently on the Bybit platform. It has a 99.9% availability track record and competitive market depth and liquidity.
Trustworthy Account Safeguards
Securing user funds is a top priority at Bybit. The multi-signature cold wallet feature provides an additional layer of protection when storing and withdrawing funds from the platform.
Bybit Pros
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24/7 multilingual customer service assistance
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Ability to trade multiple types of crypto
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Easy-to-use platform with strong security
Bybit Cons
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For every order, there is either a trading fee or trading rebate sustained
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Sign up with email address required
As mentioned earlier, even some of the best cryptocurrency exchanges are susceptible to hackers or system failure. Trezor provides a safe and reliable device to keep track of your coins, so your wallet will not disappear or get hacked when offline.
The company sells advanced cryptocurrency hardware wallets, like the Trezer One and Model T, to store all things crypto, including coins, passwords, tokens, and other digital assets. It provides an extra layer of protection, helping customers obtain digital independence and invest with confidence.
Offline Recovery
You will set a 12-24 word password for this offline recovery feature. Your entire wallet will always be accessible to you via your personalized restore code – whether online or offline.
Convenient and Friendly Interface
Trezor devices are easy to use and understand. The Trezor One has a monochrome display, with two additional buttons and the Trezor Model T has a full-color touchscreen display screen. Each has encrypted storage on the cloud, as well as multiple backup features.
Trezor Wiki
Trezor Wiki provides customers with a plethora of resources, user manuals, and tools for both non-technical and technical support. There is a ton of readily available information on the Trezor devices and cryptocurrency basics more generally.
Trezor Pros
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Easy-to-use device
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Good protection from online information being copied, hacked, or stolen
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Hardware wallets can store and track your coins when you’re offline
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Helpful customer service team to answer your questions
Trezor Cons
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Expensive device
Changelly was established in 2015, bringing an ecosystem of products and services to the crypto exchange marketplace. As one of the best crypto exchanges, customers are given access to a one-stop shop for purchasing, selling, swapping, and trading cryptocurrencies.
This intuitive platform also enables a fast crypto exchange. Changelly is constantly updating and developing its interface and capabilities to create new services and enhance user experience. The website has over 170+ crypto assets listed, including many of the big players like Bitcoin, Ethereum, XRP, and more. If you find a crypto coin you’d like to exchange, it’ll entail a 0.25% service fee. Afterward, the platform will save for transaction history for you to reference for future exchanges.
Key Features
Changelly PRO
You can upgrade your account to Changelly PRO. This will afford you access to a full-featured exchange and an ability to expand your trading to a pro-level. The main features include:
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Multi-currency wallet to store multiple coin types
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Interactive and personalized terminal dashboard
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Over 50 markets containing competitive trading fees
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Low withdrawal fees on popular digital assets and currencies
Integrated Trading Algorithm
Changelly’s trading algorithm is integrated into some of the largest, best cryptocurrency exchange services – such as Bittrex, Binance, and more. Changelly makes bids on these other platforms, selects the best available rate, and then displays that rate on its site. That rate remains approximate until the actual transaction is made. It may differ slightly from when you viewed the estimated rate to when it’s made on the blockchain.
Wallet Address Available
The Changelly wallet is a digital space tool that stores cryptocurrency coins and tokens. The wallet address is generated at random, combining unique numbers and letters for a particular user. The platform will never store user deposits. When exchanging cryptocurrencies on Changelly, you will need to provide the pre-existing wallet address to complete the transaction.
Changelly Pros
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Good rates and transparent fee structure
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Fast transaction within a 5-30 minute window
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High trading volume exchange limits
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24/7 live chat customer support
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Supported by a mobile app
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Two-factor authentication
Changelly Cons
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0.25% service fee on every transaction
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Account sign up is required where you must provide an email address, Facebook, or Twitter account login
FAQs What is a Cryptocurrency Exchange?
A cryptocurrency exchange is an online platform where users can exchange regulated money, like dollars and euros, for digital currency. Many exchanges offer traders the opportunity to buy, sell, and hold various forms of crypto – such as Bitcoin, Litecoin, Dogecoin, and more.
Many cryptocurrency trading platforms will also have secured storage options for users who want to protect their crypto assets against scams, theft, and hacks.
What’s The Difference Between a Traditional Online Brokerage and a Cryptocurrency Exchange?
A traditional brokerage account is like a checking account for your investments. It functions as a safe and secure place to invest in the stock market and store your investments. Well, a cryptocurrency exchange is similar to an online brokerage account, but for cryptocurrencies, tokens, and other digital currencies.
Are Crypto Trading Platforms Worth it?
This will depend on your investment and financial goals. Some of the best cryptocurrency exchange platforms offer low-cost fees, impressive account features, and several crypto trading options. If you’re interested in trading different types of digital assets, crypto exchanges are a great option. Just as there are varying currencies throughout the world, like dollars, euros, and pounds, there are varying cryptocurrencies as well. Choosing a cryptocurrency trading platform will allow you to invest in multiple forms of crypto, such as Bitcoin and Ethereum. This will help to diversify your investment portfolio and reduce overall risk if some coins were to suddenly decrease in value.
What are Centralized Exchanges?
The most popular type of exchange is the centralized exchange. These types of crypto exchanges are owned and operated by private companies. Most will require identification and registration to keep track of their customer base.
Centralized exchanges usually have a lot of active trading, high volumes of users, and liquid assets. They run on private, “central” servers that are owned by the company. If their servers were compromised by an external attack, the entire system could be shut down; or worse, it could leave individual traders vulnerable to security hacks regarding their investments and other sensitive data.
As centralized exchanges are becoming more and more popular, these companies are investing heavily in finding new ways to provide users with some form of insurance if the system fails. However, these exchanges store the purchased cryptocurrency within their custodial wallets, an account controlled by a third party. Because the user does not technically own their wallet, the insurance provided is likely only applied if the crypto exchange is deemed at fault. If your computer was compromised, for example, you may not be able to lean on insurance for help and your funds would be lost.
That’s why it’s important to go with a trusted, reliable cryptocurrency exchange that practices safe storage. Some of the crypto exchanges listed above are good options.
What are Decentralized Exchanges?
Decentralized exchanges have no single point of control and operate on various servers spread throughout the globe. Think of it like this – each computer makes up one part of the server as a whole. Essentially, it is controlled by each individual user.
If one computer were to turn off, it would not affect the entirety of the server because many computers are contributing to the network. This creates a dramatically different outcome if someone were to hack the network. There isn’t one company that controls a server from a single location. Instead, a decentralized exchange is run by people all over the world. This makes it significantly more difficult to hack and steal information.
Decentralized platforms are not regulated whatsoever, and therefore cannot be subject to any set of rules. There is no regulatory body, specific person, or group running the trading platform, meaning there is generally no requirement to submit your identification. Because of this, decentralized platforms are a key target for those selling illegal goods on the black market.
What is the Best Crypto Exchange?
No one exchange is far superior to the other. It all depends on your personal finance goals and using a service that aligns with those goals when it comes to cryptocurrencies. Still, there are many important factors to take into consideration when deciding which exchange to go with, including:
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User-friendly platform and interface
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Advanced features and security
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Crypto wallet availability
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Ability to trade top cryptocurrency, including all the popular crypto coins
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Low transaction fees
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Does not store your personal data
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Margin trading available
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High trading volume
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Fast transactions
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Good customer service
If you’re a beginner when it comes to the different cryptocurrencies, it’s important to use an exchange that’s user-friendly and easy to use. Many platforms will offer a variety of resources that explain the basics of cryptocurrencies. The popular crypto jargon and lingo can get very confusing and quickly. Using a platform with multiple resources available to reference, as well as a quality customer service team will be vital. Knowing you are backed by a strong support team to answer any of your questions or address your concerns will give some peace of mind when getting started.
The world of trading cryptocurrencies is all about community and bringing people across the globe together. It should be no different when it comes to the platform you’re using. Choose one with a large, inclusive community of traders and a solid support system to experience it all with. Many of the sites and apps listed above do just that.
Conclusion
Deciding to invest in cryptocurrency should be an informed and safe decision. The landscape of crypto exchanges, and trading crypto in general, can be quite confusing. We are committed to finding and explaining the best crypto exchange options for investors of all levels, whether you’re a beginner or seasoned crypto veteran. The exchanges listed above are secure, trustworthy, easy to use, and provide users with an overall quality trading experience. We hope this article has helped. Happy trading!
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