What Makes The Best Cryptocurrency Exchange?

There are many cryptocurrency exchanges on the market today. Below we will provide an overview and rank the best cryptocurrency exchanges in 2018. Cryptocurrency exchanges are platforms that you can buy, sell or exchange cryptocurrencies for other cryptocurrencies or fiat currencies (USD, EUR, GBP, etc.). Exchanges have varying tools to help people trade. Some are more user-friendly, some are geared toward professional traders, and some have options for a ‘basic’ and ‘advanced’ trading views to accommodate all levels of traders.

 

Points to Consider When Choosing an Exchange:

 

What currencies are supported? Different exchanges support only cryptocurrencies while others support the entrance of fiat currencies.

Where is the company located? It’s important to know where the companies are located. Exchanges have a wide range of customer support levels. Company reputations go a long way, but sometimes it’s easier to trust an exchange that is located within the same borders.

Approved Traders? Certain sites different restrictions on who can use its exchange. It’s important to know which sites block the country to which you are a resident. It’s possible for you to access some exchanges by using a VPN to trick the site into thinking you are within its country’s borders. However, if they find out you aren’t in the location you say you are, they might freeze your account and your assets.

Altcoins Supported? Some sites only support a small number of coins (usually based on market capitalization). Other exchanges allow for a wide variety of cryptocurrencies, also known as altcoins, for diversified exposure. Which coins will you mostly be holding or trading?

Order Types? Will you be primarily holding or will you need more advanced day trading order types? Some exchanges will allow Limit, Market, Stop-Limit orders as well as margin trading and shorting.

Fees? Often one of the easiest points to overlook but also the most costly. Fees associated with trading different cryptocurrencies and the types of trades you participate in vary drastically. Some sites have flat percentage fees while others vary depending on cryptocurrency. Make sure to understand your trading intentions, which coins you want to exchange, and then compare rates amongst exchanges. Fees add up over time!

 

The SEC Targets Crypto “Exchanges”

 

Types of Exchanges:

  • Trading Platforms: Exchanges that connect buyers and sellers and take a fee for each transaction.
  • Direct Trading: Exchanges that offer person to person trading where individuals can exchange currency. Direct trading exchanges have each seller set his/her own exchange rate.
  • Brokers: Exchanges that have an intermediary that sets the price of the cryptocurrency being bought/sold.


 

Best Cryptocurrency Exchanges (by Trading Volume) 2018

 

 

1. Best Cryptocurrency Exchange

Website: Binance

Currency Supported: crypto only

Company Location: Hong Kong

Approved Traders: Everyone!

Altcoins Supported: 250+

Order Types: Limit, Market, Stop-Limit

Fees:

Fee TypeFee Amount
Trading0.1% trading fee-maker and taker (50% discount on trading fees if you have enough BNB to cover the transaction fees)
DepositFree
WithdrawalVariable. Will adjust the withdrawal fees according to the blockchain conditions regularly

 

 

2. Best Cryptocurrency Exchange

Website: Upbit

Currency Supported: Korean Republic Won and crypto

Company Location: South Korea

Approved Traders: South Koreans and people who can meet the same four certificates as domestic Koreans – using normal KakaoTalk, login through KakaoTalk account, KakaoPay certificate, and real name verification through Korean carrier

Altcoins Supported: 40+

Order Types: Limit, Market, Stop-Limit

Fees:

Fee TypeFee Amount
TradingKRW market – 64% discount
BTC/ETH/USDT market – 20% payback
BTC market – no discount
DepositFree
WithdrawalVariable

 

 

3. Best Cryptocurrency Exchange

Website: Huobi   

Currency Supported: crypto only

Company Location: Beijing, China

Approved Traders: non-US

Altcoins Supported: 200

Order Types: Limit, Market, Stop-Limit

Fees:

Fee TypeFee Amount
TradingMaker fees range from 0.15% to 0.02%
Taker fees range from 0.2% to 0.05%
DepositFree
Withdrawal0.3% – 0.5%

 

 

4. Best Cryptocurrency Exchange

Website: OKEx  

Currency Supported: Chinese Yuan and crypto

Company Location: China

Approved Traders: non US

Altcoins Supported: 400+

Order Types: Limit, Market, Stop-Limit, BTC and LTC futures, margin trading

Fees:

Fee TypeFee Amount
Trading0.1% (maker and taker)
DepositFree
WithdrawalVariable

Other Fees:

  • ETH, ETC, BCC Futures – maker = 0.025%, taker 0.075%. Settlement fee 0.05%
  • BTC and LTC
    • Open Position = 0.015%
    • Close Position = 0.015%
    • Contract Settlement = 0.015%

 

 

5. Best Cryptocurrency Exchange

Website: Bitfinex  

Currency Supported:  and crypto

Company Location: Hong Kong

Approved Traders: non-US

Altcoins Supported: 20+

Order Types: Limit, Market, Stop-Limit, Margin Trading, Margin Funding

Fees:

Fee TypeFee Amount
TradingVariable for maker and taker
DepositFree for crypto, 0.1% bank wire
WithdrawalVariable

Other Fees:

  • Margin Funding Providers
    • 15% (of the fees generated by active margin funding contracts)
  • Margin Funding Providers, when opened by a hidden offer
    • 18% (of the fees generated by active margin funding contracts)
  • Funding that is borrowed and subsequently returned without being used in a margin position (More Information)
    • Up to one full day’s interest

 


6. Best Cryptocurrency Exchange

Website: Bithumb

Currency Supported: Korean Republic Won and crypto

Company Location: South Korea

Approved Traders: Koreans only

Altcoins Supported: 10+

Order Types: Limit, Market, Stop-Limit

Fees:

Fee TypeFee Amount
Trading0.15% trading fee (maker and taker), 0.01%-0.07% if using discounted fixed amount coupon
DepositFree for KRW, varies for crypto
WithdrawalVarious

 

 

7. Best Cryptocurrency Exchange

Website: Bittrex    

Currency Supported: crypto only

Company Location: Seattle, WA

Approved Traders: US citizens and others

Altcoins Supported: 190+

Order Types: Limit, Market, Stop-Limit

Fees:

Fee TypeFee Amount
Trading0.25% on all trades (very high compared to other exchanges)
DepositFree
WithdrawalFree

 

 

8. Best Cryptocurrency Exchange

Website: Bitz-Z   

Currency Supported: crypto only

Company Location: Hong Kong

Approved Traders: no country restrictions

Altcoins Supported: 50+

Order Types: Limit, Market, Stop-Limit

Fees:

Fee TypeFee Amount
Trading0% – 0.15% taker fee
0.1% – 0.3% maker fee
DepositFree
Withdrawal0.5% for most tokens (some are variable)

 

 

9. Best Cryptocurrency Exchange

Website: GDAX    

Currency Supported: USD, EUR, GBP, and crypto

Company Location: San Francisco, CA

Approved Traders: US, Canada, Europe, United Kingdom, Australia, Singapore

Altcoins Supported: none

Order Types: Limit, Market, Stop-Limit

Fees:

Fee TypeFee Amount
TradingMaker fees – 0%
Taker fees – Various
DepositCrypto – Free
ACH – Free
Wire – $10 on incoming wires
SEPA – Free
WithdrawalCrypto – Free
ACH – Free
Wire – $25
SEPA – €0.15

 

 

10. Best Cryptocurrency Exchange

Website: Kraken   

Currency Supported: EUR, USD, JPY, GBP, CAD and crypto

Company Location: San Francisco, CA

Approved Traders: US, Europe, Canada, Japan

Altcoins Supported: 50+

Order Types: Limit, Market, Stop-Limit, margin trading

Fees:

Fee TypeFee Amount
TradingMaker Fees – Various
Taker Fees – Various
Deposit$5-$10 for USD
Withdrawal$5-$60 for USD

 

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