Best Cryptocurrency Exchanges in 2023 – Ranking

In modern times, digital currency confidently continues the conquest of the virtual universe. Many who have long appreciated all the features that it offers, have mastered trading. And then they completely quit their boring work in order to devote themselves entirely to more profitable earnings.

If before exchange trading was available only to a limited circle of people, today anyone can do it. The current situation in the financial market allows you to become a trader even with a small initial capital. The main thing is to choose a reliable cryptocurrency exchange for work. Today we will talk about the most popular and secure crypto platforms.

OKH Exchange

Perhaps only beginners in trading could not hear about this trading platform. OKH has been popular among participants in the cryptocurrency market for a long time and occupies leading positions in various ratings.

Perhaps most of all, this exchange attracts the attention of traders due to convenience. The interface of the site is simple and will be understandable, including those who are here for the first time. But, in addition to the browser site, there are several more access options:

• PC program;
• apps for Android and iOS.

Thanks to these services, it is possible, as well as on the site, to control the operations carried out, track the rate of cryptocurrencies, and trade them. Mobile devices can also be configured to send alerts in case of sudden changes in the value of selected coins. You can download programs for free directly on the site, in a specially designated section.

Among other advantages, the exchange has another interesting feature. Participants can receive BTC for completing various tasks. For example, downloading an app or taking a survey.

Additionally, the client receives incentives for activity on the site. For example, for a trading volume of more than $100, you will be rewarded with a 20 USDT discount card. It can also be obtained for replenishing the account in the amount of $100 at a time. When buying coins for $100, another 10 (in bitcoins) is credited.

Thus, this cryptocurrency exchange offers the client all the conditions for earning.

Advantages:

*Any trading involves risk

Bybit

Bybit is a cryptocurrency exchange that allows users to trade more than 100 digital currencies, including Bitcoin, Ethereum, Cardano (ADA), and other popular and lesser-known coins.

The platform has a simple and intuitive interface that is user-friendly for both beginners and professional traders. Security on the exchange is ensured by the use of two-factor authentication and storage of customer funds in cold wallets, which provides a high level of protection against hacker attacks.

Due to the advantages of the Bybit exchange, it is chosen by traders who are looking for a highly efficient platform for trading cryptocurrencies.

Pros of a crypto exchange:

Binance

Everyone who is familiar with trading is also familiar with the Binance exchange. It started operating in 2017 and has since earned the status of the largest platform where financial transactions with cryptocurrency are available. The site stands out among other similar exchanges with many advantages. For example, it supports all types of digital currencies that are in demand today.

The platform also offers the most favorable conditions for transactions. The level of the trader is not so important. Whether you're a beginner or a pro, everyone will figure out how to trade digital currency. And Binance, in addition, will tell you a simple and inexpensive way to do this.

The company is the leader among other similar exchanges in terms of trading volume on the international market. The presence of a decentralized system gives customers a guarantee of protection against hacking wallets or loss of capital after system failures.

Positive points:

• the possibility of replenishing the deposit in rubles;
• round-the-clock work of the support service;
• petty commissions;
• availability of a data encryption system;
• Support for several hundred digital currencies.

Negative:

• for anonymous clients, the amount of withdrawal of money is limited;
• unpleasant hacking experience;
• Experts consider the storage of cryptocurrency on an exchange account to be unsafe (partly due to the previous point).

Bitfinex

Cryptocurrency exchange Bitfinex (China) is among the leaders in terms of trading volume. It is noteworthy that in order to replenish the deposit and withdraw funds, you must confirm your identity. And this procedure is quite strict.

For verification, you need a package of documents:

• bank statement;
• utility bill to confirm registration;
• phone number;
• identity card.

There are more than three dozen trading pairs in the public domain, as well as 14 currencies (crypto and fiat) to choose from.

In the past, the exchange has been repeatedly attacked by scammers. In the summer of 2016 alone, users lost approximately $65 million. However, at present, customer reviews about this cryptocurrency platform are the most positive. In addition, the past negative experience has become a good lesson and the owners are now much more demanding of safety.

Positive points:

• interface with flexible settings;
• Versatility;
• mobile software;
• a lot of orders;
• availability of technical analysis tools;
• increased degree of liquidity;
• enhanced security through API, 2FA authentication, and the availability of advanced functionality for controlling user profiles.

Negative:

• documents for identity verification must be in English;
• If you replenish or withdraw money in dollar currency, the commission will be at least $ 20.

Bithumb

The Bithumb exchange is owned by owners from South Korea. Currently, it is among the leaders in terms of trading volume, but can only offer a choice of six coins:

• VTS;
• DASH;
• ETC;
• ETH;
• LTC;
• XRP.

Users note the site worthy of attention due to the accrual of low commissions and a high degree of liquidity. To start trading, the user will need to verify their identity. There is a limit of 5 million won for withdrawal.

It should be mentioned that not so long ago the exchange became a victim of a major hacker attack. The personal information of more than 30,100 people was stolen. As compensation, the platform assigned the victims a one-time payment of <> million won each. Also, despite all the advantages of the resource, customers often note not the most successful design of the platform. And you won't be able to deal with its device without registration.

Positive points:

• small commission – 0.1%;
• increased degree of liquidity;
• A rare opportunity to buy a gift certificate.

Negative:

• exchange only in Korean, partial translation into English is available;
• currency pairs are pegged to won, you won't be able to use another fiat;
• the commission is not tied to the trading volume;
• hacking experience;
• Only six coins to choose from.

Cex.io

The CEX.io exchange is one of the oldest among those who work with cryptocurrencies. It started working in London in 2013 as a bitcoin platform, as well as a cloud technology provider.

There was a time when the Ghash.io mining pool that belonged to her was so large that it took up almost half of the entire power of the network.

At the beginning of 2015, all cloud mining operations were discontinued. And since then, CEX.io has been operating only as an exchange. The office is under the auspices of FINCEN and in its work is guided by the policy of AML and KYC. "Anti-money laundering" and "Know Your Customer" respectively. Thus, in order to start cooperating with the exchange, the user will need to undergo mandatory verification. Only after that, he will be allowed to trade.

Positive points:

• a wide range of tools for technical analysis;
• there is a possibility of margin trading;
• there is software for mobile devices with any OS;
• commission is not charged for transactions of market makers;
• you can withdraw funds even to ruble bank cards;
• The user interface is user-friendly;
• has not been hacked since its inception;
• special conditions for special clients who trade large amounts at a time;
• Enhanced site protection.

Negative:

• high prices for the purchase of assets and low prices for their sale;
• only 2 coins and 7 currency pairs are available for work;
• there may be problems with the withdrawal of money;
• increased accrual of commissions for replenishment of the deposit and withdrawal of money;
• Long-term verification.

Kraken

The American cryptocurrency exchange called Kraken began operating back in 2011, so its reliability is beyond doubt. On the site, you can buy popular digital currencies (BTC, ETH, etc.), as well as other coin options. In particular, the cryptocurrency exchanger allows you to exchange for another digital currency or fiat money. In particular, among the latter:

• U.S. and Canadian dollars;
• euro;
• Yen;
• Pounds.

In addition, the platform offers 15 digital currencies and several dozen trading pairs. Professional traders will appreciate the numerous trading options. Including margin trading.

The Kraken cryptocurrency platform and the German bank Fidor have decided to team up to create the first cryptocurrency bank in the financial market.

The size of commission payments for trading operations here fluctuates, not only from trading volumes, but also from the type of trading pairs. Who the trader is also plays a role. For example, for market makers, the commission is charged less.

Positive aspects;

• the ability to buy not only coins, but also fiat;
• high degree of liquidity;
• margin trading and multiple order options;
• mobile app for Apple;
• the presence of a corporate program for special clients (in particular, for those who are engaged in business, or often conduct trading operations with a large amount of funds at a time);
• accrual of small commissions for trading operations;
• experienced support service;
• excellent reputation;
• advanced security settings (API, two-factor authentication, etc.).

Negative:

• more suitable for professional traders and businessmen;
• the user interface will be difficult for a beginner to understand;
• increased commission charges for replenishment of the deposit or withdrawal of money.

Poloniex 

The Poloniex cryptocurrency exchange entered the market in 2014 and today has earned a reputation as one of the leading international exchanges of this type. It assumes a safe trading environment, there is support for several dozen trading pairs for cryptocurrency exchange. Professional traders will also appreciate the advanced set of analysis tools.

This trading platform is included in the international TOP exchanges in terms of the "daily trading volume" parameter.

Commission accruals vary in size, depending on who the trader is:

• for market makers – does not exceed 0.15%;
• for market takers – no more than 0.25%.

It all depends on the trader's trading volume over the past month. Also on the exchange there are small commissions for withdrawal.

Positive points:

• quick registration;
• a large number of tools for technical analysis;
• high security of the platform;
• Versatility;
• comfortable, intuitive user interface;
• relatively low commissions;
• increased level of liquidity.

Negative:

• service is often delayed;
• no mobile software;
• Fiat is not supported.

The last point is of particular importance. The US dollar exchange rate is tied to the USDT altcoin. As a standard, it costs $ 1, but in times of crisis, its rate is not always equivalent to fiat.

*Any trading involves risk

Capital.com

On the Capital platform, you can trade not only digital currency, but also many other asset options. It began its work in 2016 and has received "customer service" awards several times during its existence.

Today it is one of the largest exchanges that has long been trusted. The security of using the crypto exchange is guaranteed by licenses from two regulators at once - the British FCA and the Cypriot CySEC.

The main advantages of the site are the presence of thousands of assets, as well as the absence of commission payments. It is also not charged for withdrawing funds, which is rare on other exchanges. The low entry threshold is an additional attractive moment for beginners.

Currently, more than 300 thousand traders from all over the world are registered on the exchange.

Positive points:

MEXC

MEXC is a cryptocurrency exchange founded in 2018. The team members who created the trading platform are specialists from Europe and Japan, but they chose Singapore as the place of official registration of the crypto exchange. Singaporean law favors cryptocurrencies, so it is an excellent safe jurisdiction for cryptocurrency projects.

The platform was founded by a team of leading practitioners who have gained extensive experience in the blockchain industry. The team also includes Wall Street experts with a background in banking. The exchange is very popular in the Asia-Pacific region.

Using a high-quality cold storage wallet, the platform offers an increased level of security to its customers. At the time of writing, the customer data of the MEXC exchange has never been hacked.

The products offered by MEXC include a PoS pool that provides high yields for stakers and an advanced API. The team has developed apps for iOS and Android so that users can trade or track their trades on the go. The site offers an informative tutorial for spot traders and a tutorial on ETFs.

The company offers standard and professional margin trading tailored to the needs of its users. There are different interfaces for each type of margin trading. The trading section features several dozen cryptocurrencies that can be traded with a leverage of 1:5.

Pros of the exchange:

*Any trading involves risk

What is a cryptocurrency trading exchange?

In fact, a cryptocurrency exchange is a platform where traders can make all sorts of transactions with digital currencies - trade them or exchange them. The exchange is the fastest way to get the desired coins in your wallet.

It can also be called a kind of analogue of the cryptocurrency market. For example, such as Forex. Each user invests his own finances in this business, therefore he has the right to perform all available exchange operations - exchange cryptocurrency for other coins or for real currency.

Every novice trader must, first of all, find the most suitable exchange for cooperation. Good earnings on cryptocurrency are quite possible. Although it will certainly not do without making mistakes. Which is inevitable for traders with little experience.

What are the types of cryptocurrency exchanges?

As a standard, exchanges are classified according to the types of currencies traded. In this case, the exchange of cryptocurrency can be made for fiat, or for another cryptocurrency. It is not difficult to distinguish them:

• In the first case, different types of state currencies will be available for trading.
• In the second, there are only various cryptocurrencies.

The first option is especially popular with traders, as convenient platforms for making money. This type of trading allows for the possibility of conducting speculative market operations and withdrawing profits in the form of state currencies that are characterized by increased volatility.

The exchange only between cryptocurrencies is beneficial if the received coin will be used in the future. However, according to some experts, these are only theories. Only practice will help to verify the effectiveness of both types of trading operations.

Thus, before starting to make transactions with real funds, it is advisable for a trader to conduct a thorough analysis of the work of today's popular cryptocurrency exchanges.

There is also an additional classification:

• Standard cryptocurrency exchanges. Both parties to the transaction trade the digital currency based on the prevailing market price. The exchange acts as an intermediary that facilitates the process.
• Cryptocurrency broker. As in the previous case, the broker makes it easier for its client to buy and sell at a cost determined by them. In a simple way, this is the current price with some premium.
• A platform for direct trading. Suitable for peer-to-peer coin trading between two sides of a transaction, without the need for an intermediary.

How to choose the right exchange?

As you know, on the Internet today you can find many cryptocurrency platforms. Therefore, beginners who are just beginning to get acquainted with this part of the virtual universe have to face numerous difficulties. To avoid them, you need to remember just a few simple rules. They will save the trader from making a fatal mistake.

To choose an exchange where a trading operation is guaranteed to be successful, you need to pay attention to the following nuances:

• Daily trading volume. This indicator is the main one that indicates the success of the cryptocurrency exchange. After all, it demonstrates to customers the degree of activity of the site. Additionally, it helps to trace the demand for a particular coin.
• The range of cryptocurrency pairs. On individual trading platforms, you can work exclusively with a limited set of cryptocurrencies. Some even specialize only in military-technical cooperation.
• Course monitoring. As a standard, experienced investors are registered on several exchanges at once. This not only helps in practice to find the most favorable trading conditions. But it also allows you to make money with the help of arbitrage.
• The need for supporting software. Usually, there is no need to download additional programs on veteran cryptocurrency exchanges that are trustworthy. Therefore, it is undesirable to do this on little-known exchanges. An alternative for conversion can be, for example, a terminal. Of course, there is a drawback. Most sites only support transactions involving bitcoin and the exchange rate is not always profitable.
• Transactions or withdrawal of finances. Before making a decision on registration, you must carefully study the terms of replenishment of the account and withdrawal of funds. And also to clarify which payment instruments this service supports. High commissions do not contribute to the profitability of trading operations. This is especially true for mining.

Not so long ago, platforms began to appear that combine the functions of trading platforms and mining sites. But mostly they are blocked for Russian traders. Therefore, you will have to use a VPN to gain access.

How to trade on a cryptocurrency exchange?

Having decided on the choice of a cryptocurrency exchange, a novice trader asks another question - how to trade on the stock exchange? For those who have already worked in any type of trading, the beginning will not cause any difficulties.

The key principle here, as with any other type of product, is extremely simple and clear - you need to buy cryptocurrency cheaper and sell more expensive. To do this, the trader needs additional tools.

For analysis

An experienced trader must be able to analyze the market on his own. Each cryptocurrency exchange provides its own tools for this:

1. Graph. Clearly demonstrates how the price category of a coin changes over a specified period of time.
2. History. If you know the trading volumes of a particular pair, it is not so difficult to establish the level of its demand on a particular exchange. The most popular pair has a faster rate than others.
3. Glass. It helps to clarify the difference between the current proposals and at the same time make a thorough forecast of which way the course will go in the near future.

It is desirable to carry out the analysis in a complex. Such an approach will significantly increase the likelihood of a correct interpretation of the situation. This means that the user will be able to carry out all the necessary operations before the rate changes in a disadvantageous direction for him.

For trading

An equally important tool that every trader needs is orders. These are peculiar applications required for transactions. There are two main categories of orders:

1. Buy – for purchase.
2. Sell – for sale.

They are perfect for simple transactions, regardless of whether the market value will be involved or not. Unfortunately, not all crypto exchanges have a stop order. It is a great helper in high-risk conditions, which allows you to fix losses at a certain level in order to avoid large losses.

Basic principles of trading on the stock exchange

Many professional traders call stock trading a real art. Alas, it cannot be mastered even after reading a ton of theoretical information. It's something that comes with hands-on experience.

Only in practice, the trader will be able to create his own strategy of actions and remember the correct algorithm for conducting trading operations.

But at the same time, do not turn a blind eye to the general rules:

• Any operation should be conducted calmly, without succumbing to unnecessary emotions. Excitement and the greed that follows it are the real enemies of the trader. Often it makes no sense to expect that the already increased rate will rise a little more. Especially if the forecast claims that the price will fall soon. It is important to have time to sell coins before the fall really happens.
• The list of quotes must be regularly monitored - this is the main source of data on the exchange.
• You need to be patient to wait for the signals you need to buy or sell. This type of trading is risky, because impulsiveness can bring serious losses to the user.
• It is advisable to keep half of the assets in the BTC, since it owns almost half of the cryptocurrency market.
• Part of the funds must be left in fiat currency. Even if there is a collapse, coins can be bought inexpensively for fiat.
• It is not necessary to keep large amounts on the exchange account. If the coin was bought for long-term storage, it is better to withdraw it to a cryptocurrency wallet.

Among other things, it will not be superfluous to track the capitalization and volumes of cryptocurrencies in the market. These data will allow you to make at least an approximate forecast of the behavior of the course.

*Any trading involves risk

The advantage of a cryptocurrency exchange over a currency exchange

None of the currently existing currency exchanges can compete in exchange rate volatility with cryptocurrency exchanges. For example, in just one year, the bitcoin rate rose in price by 5.5 thousand percent.

For a minimum of time, you can get a really impressive profit. After all, the cost can not only fall rapidly, but also grow extremely quickly.

A distinctive feature of the most popular cryptocurrencies today is large capitalization. It clearly demonstrates that the price of finance can not only rise rapidly, but also reach the so-called "historical highs".

Due to these features, experienced traders who have been trading for more than a year can easily earn fabulous fortunes in less than six months.

In order for trading on the cryptocurrency exchange to be successful, you need to choose a suitable trading platform and learn how to analyze the market, quotes, and understand the charts. And also do not lose sight of the level of activity of other participants. This is the only way to conduct competent and 100% successful trading.

Exchange hacks

Gradually, the number of hacker attacks on cryptocurrency exchanges is increasing. So, for example, 20 thousand bitcoins were stolen from the Bitstamp exchange. The amount of the loss exceeded $ 5 million, and the previously popular Bter exchange in China was hacked twice. For the first time, the loss exceeded $ 1.5 million, and a year later it had to close, because there was barely enough money even to pay customers at least some compensation. A few years ago, the hacking of the American exchange Bitfinex ended with the collapse of the BTC.

Often, the affected exchanges turn to hackers, asking them to return the loot for a certain reward. But it turns out that this is not for everyone and not always. In the latter case, platforms have to pay compensation to their customers in order to keep the name.

To date, exchanges that have been hacked often offer users the issuance of special tokens on account of the loss caused. Usually, such tokens are redeemed at face value and freely traded. But users often sell them at a low cost, not fully believing that the exchange will be able to recover from the damage caused.

DDoS is one of the types of hacker attacks, which is one of the "popular" among Internet hackers. The abbreviation stands for Distributed Denial of Service (or Distributed Denial of Service). The algorithm of such an attack is surprisingly simple:

1. The scammer creates a lot of traffic to the selected site.
2. The exchange ceases to cope with an excessively high number of calls.
3. Users of the platform stop accessing their own profiles.

With the emergence and development of blockchain technologies, hackers are trying to alter old schemes and developments in accordance with the changed conditions. So, they managed to adapt "trojans" and ransomware viruses for blockchain resources. And at the same time revise some of the principles of creating "mirrors" of sites. On the other hand, with a DDoS attack, things are not so simple. Blockchain turned out to be too complicated a mechanism for her. Therefore, DDoS had to be classified according to the criteria of the attacked object.

In fact, an attack of such a plan can be directed either to sites created on the basis of the blockchain system, or directly to the system. In the first case, there are almost no difficulties. Quite often, blockchain exchanges are attacked by hackers. While the second hacking option is actually almost impossible to implement. But it is worth noting that sometimes in the course of assessing the degree of protection of the blockchain, confusion arises associated with a lack of understanding of what the attack is projected on.

For example, it is worth analyzing a DDoS attack on a blockchain-based platform.

Often, even the best crypto exchanges are subjected to such attacks. Their level of protection is often weak, and they are often located in an uncontrolled space. But at the same time, tens and hundreds of thousands of transactions are carried out. In most cases, the purpose of the fraudsters' attack is to extort money. This means that the offender will demand a certain amount as "compensation" for the attack to be stopped. In some cases, DDoS is carried out solely for the purpose of destroying the reputation of the site. Each of these options is great for cryptocurrency exchanges. For such sites, the loss of a client is highly undesirable. Therefore, they often agree to the conditions of the attackers and pay these "compensation".

It is noteworthy that a successful DDoS attack can often cause a change in the cryptocurrency rate. So in 2013, bitcoin fell in price by $60. A year later, another $100.

However, virtual criminals are not always driven only by the desire for financial gain. The development of the cryptocurrency market continues daily. New digital currencies are emerging, the old ones may lose interest for traders. In 2015, a real scandal erupted among conservatives or so-called "evangelists" of the BTC system about the further development of cryptocurrency. During the same period, there was a massive DDoS attack on the main resource of the coin and the mining pool. And there are no prerequisites proving that the scammers had a desire to gain financial gain.

It is worth noting that the motivation of hardened conservatives in the digital universe is often akin to the motivation inherent in religious fanatics. This state of affairs, without a doubt, does not make it easier to eliminate conflict situations. And in addition, it also creates potential sources of attacks. And it is almost impossible to protect yourself from them.

Another option for attacking a cryptocurrency exchange is the direct theft of assets. Data on the theft of such a plan is published quite often.

But in reality, it is not easy to prove that this is the work of hackers. There are cases when unscrupulous owners of exchanges themselves turned such scams. They stole traders' money, passing off the incident as an attack by intruders.

Wrapping Up

Today, crypto exchanges provide excellent opportunities for making money in a safe environment. However, raiders should remember that cryptocurrency exchanges need to be used to perform trading operations. But not at all for storing coins in the account. After accumulating a certain amount of coins, it is advisable to think about getting a cryptocurrency wallet.

To choose an exchange, among other things, it does not hurt to study its history - whether it has been subjected to various digital attacks. And if so, how quickly and to what extent it was possible to compensate for the damage caused to users.

To clarify these and other details, just read the blog or forum of the exchange. This is where users most often share news and problems. Do not opt for those platforms that violate their own rules. In particular, they block the withdrawal of funds for a long time.