Best cryptocurrency exchange sites – top exchange for cryptocurrency, features, comparison 2020

 

A Cryptocurrency exchange site is a place where we buy, sell, and trade cryptocurrencies or altcoins (cryptocurrencies other than bitcoin) against fiat currency (USD, Euro…) or other cryptocurrencies. In this article, we will discuss the different types of top cryptocurrency exchanges. How Cryptocurrency exchange sites differ? And later compiled a list of the best Cryptocurrency Exchange sites in each category.

The article provides a detailed overview of the major attributes of every top Cryptocurrency Exchange sites and rates them accordingly.

The cryptocurrency market evolves around Cryptocurrency Exchange. No Cryptocurrency Exchange sites are alike.

Each Cryptocurrency exchange differs from other Cryptocurrency Exchanges in their primary role, features, quality of service, and most importantly user experience. Hence, choosing the right cryptocurrency exchange can be a tedious job.

Therefore, Below we have listed and explained the different types of Cryptocurrency Exchange sites available worldwide. How Cryptocurrency Exchanges differ? And What attributes to look for before choosing the best possible cryptocurrency exchange site that serves your purpose.

Types of Cryptocurrency Exchange sites

As I said above no two exchanges alike. They differ according to their primary purpose, features, and services offered. I have categorized Cryptocurrency exchanges in three parts.

1. Cryptocurrency margin trading platforms

These are the more traditional type of exchanges “similar to the stock exchange” where you trade altcoins at an open market price. These types of exchanges charge a tiny amount of fee for a transaction.

This type of exchange allows you to trade cryptocurrency against another cryptocurrency. They provide a trading platform with advanced trading tools like coin price charts, margin trading, etc. 

Most of these Cryptocurrency exchange sites also offer to trade crypto derivatives with high leverage.

Binance, Bitmex, ByBit, OKEx exchange are the prime examples of these type of Cryptocurrency margin trading platforms

2. Cryptocurrency Brokers

Cryptocurrency Broker is kind of similar to cryptocurrency trading exchange which allows users to buy cryptocurrencies at a slightly expensive price than an original market price of the cryptocurrency with Fiat currency like USD, Euro, AUD, INR.

Brokers work as third party service which adds their premium to the original market price of the cryptocurrency.

These exchanges work like wholesalers which buy the product at wholesale prices and sell at their own price tag. Most cryptocurrency brokers are also a trading platform with basic trading tools.

Cex.io, Coinmama, and  Coinbase are few of the examples of cryptocurrency brokers

Read the detailed Coinbase review 2020

changelly vs shapeshift review and comparison 2020

3. PtoP exchange (Peer to Peer Exchange sites)

These types of Cryptocurrency Exchange sites act as a middleman between the buyer and the seller and let them trade at whatever price they want.

Local Bitcoins exchange is a prime example of these types of exchanges. The best part of these types of exchanges is that you have the option to buy and sell the coin using any payment method including cash.

To counter the risk associated with the peer to peer transactions. Exchange use escrow service which holds the cryptocurrency until the confirmation of payment by both parties.

First, the buyer makes the payment and then confirm the payment execution at his/her end. The seller releases the cryptocurrency after confirmed receiving the payment. The exchange charges a tiny amount of escrow fee from both parties.

Exchanges also use a reputation system to categorize the reliable and trustworthy seller and buyer.

At LocalBitcoins Exchange you can buy bitcoin with each and every possible payment method including gift cards, Apple Pay, Cash, and Countries local payment methods.

Local Bitcoins, Paxful are few of the examples of p2p cryptocurrency exchange sites.

Note: You can buy bitcoin with INR instantly at Localbitcoins

What features to look for before choosing the top cryptocurrency exchanges

1. Background:

Reputation and the background of an exchange is the first thing to inquire about top cryptocurrency exchanges.

The best way to check the reputation of the exchange is to read user reviews on public forums like Bitcoin talk, medium, or Reddit. (Don’t worry I have covered it for you)

It gives an overview of the past practices of a cryptocurrency exchange site and gives you the confidence to invest your money in the platform

2. Security –

A top cryptocurrency exchange must have robust security. So the user feels confident to invest the money in the platform and can trade with peace of mind without worrying about the trading asset.

3. The interface of the exchange

The interface of the exchange is the next big thing to consider before choosing the platform. A flexible, easy to navigate, dynamic, and well-structured interface provides a much better user experience.

4. Fees –

Fees are another major factor in choosing the right type of Exchange. The low fee cryptocurrency exchange helps users to make more profit than high fee exchange.

5. Number of altcoins to trade –

The number of altcoins available on a Cryptocurrency exchange site provides you with more options to maximize the profit.

Best altcoins to invest in 2020

6. Payment options –

The number of payment options supported by the platform makes it more accessible and flexible. It provides more opportunities for users to access the platform.

The higher number of payment methods also maximize the profit potential for the users as different payment methods have different transaction fees.

Certain payment methods are also best suited to certain users according to location, fiat currency, and accessibility.

7. Liquidity –

Liquidity means how quickly the trader can get your hands on your wanted currency by exchanging it for other currencies. Higher the liquidity better the Cryptocurrency exchange for crypto trading.

8. Trading tools

Trading tools are the trading features or add-on trading services offered by the cryptocurrency trading platform. Which provides a user with more trading options, trading types, and makes crypto trading more convenient.

9. Customer support

Customer Support of the exchange plays a major role in the user experience and reflects the good practices of the platform.

10. Trading volume

High trading volume exchange gives a strong indication of the popularity, credibility, and good practices of the cryptocurrency exchange site. It shows people are ready to invest in the platform.

Best Cryptocurrency exchange sites – Features and Comparisons

Cryptocurrency Exchange

Payment methods

Crypto Supported

Pros

Cons

Overall ratings

changelly pro exchange
  • Accept credit card, Debit card, Prepaid cards, Virtual cards and cryptocurrencies as the payment methods
  • An advanced margin trading version of changelly instant cryptocurrency exchange site
  • Uses 'Maker -Taker' fee model Maker and Taker both charged with 0.1%  trading fee
  • Bitcoin Cash (BCH)
  • Bitcoin (BTC)
  • Bitcoin Gold (BTG)
  • Gemini Dollar (GUSD)
  • Ethereum (ETH)
  • Tether (USDT)
  • Chain Link
  • Ontology
  • OmiseGO (OMG)
  • USD Coin
  • Ontology Gas (ONG)
  • NEO
  • GAS
  • BAT
  • Cosmos (ATOM)
  • 50 more cryptocurrencies
    • An advanced margin trading platform
    • Offers leverage up to 10x
    • Trading pairs is available in BTC, USDT, ETH
    • Retains all other features of changelly cryptocurrency exchange site.
    • Relatively new trading platform
    • Trading Fee is relatively high
    Localbitcoins exchange
    • Can buy and sell Bitcoin with every possible payment method at any part of the world
    • Accept each and every payment method
    • Supports each and every Fiat currency
    • Reasonable payment fees

    Bitcoin

    • By-Far the best peer-to-peer (p2p) Exchange site
    • Available worldwide
    • Can buy and sell bitcoins in local payment methods like Paytm, UPI and Cash in India.
    • Can buy Bitcoin with Gift cards, Apple pay and more
    • Buy and sell Bitcoin instantly and anonymously
    • Can find high exchange rates with a few payment methods
    changelly
    • Accept credit card, Debit card, Prepaid cards, Virtual cards and cryptocurrencies as the payment methods
    • Flat 0.25% crypto to crypto conversion fee
    • Credit card buying fee depends on the 3rd party service provider
    • 5% buying fee via simplex
    • Moonpay charges 7% fee
    • Indacoin 10% fee
  • BitTorrent (BTT)
  • Bitcoin Cash (BCH)
  • Bitcoin (BTC)
  • Bitcoin Gold (BTG)
  • Gemini Dollar (GUSD)
  • Ethereum (ETH)
  • Tether (USDT)
  • Chain Link
  • Ontology
  • OmiseGO (OMG)
  • USD Coin
  • Ontology Gas (ONG)
  • NEO
  • GAS
  • BAT
  • Cosmos (ATOM)
  • TEZOS
  • Ripple (XRP) 
  • Dash (DASH)
  • Zcash (ZEC) 
  • Litecoin (LTC) 
  • Stellar (XLM)
  • And 200 more
    • Changelly is one of the best instant cryptocurrency exchange site
    • More than 200 cryptocurrencies available to buy, sell and trade
    • It offers a flat exchange fee of 0.25% (competitive)
    • Only requires an email to access the platform services
    • Relatively high credit card buying fee 5% to 10%
    bybit exchange best cryptocurrency exchange site
    • Accept fiat deposits using Credit & Debit card, Bank Transfer, and other local payment methods like UPI in India
    • Accept cryptocurrencies
    • Can buy cryptocurrencies directly with USD, INR and other major Fiat currency
    • There is a fixed 0.1% fee charged for exchange of cryptocurrencies
    • 'Maker- Taker' trading fee model where Maker receives a rebate of -0.025% and Taker pays 0.075% fee
    • Direct crypto buying fee varies
    • No deposit and withdrawal fee
  • Bitcoin crypto (BTC)
  • Ethereum crypto (ETH)
  • Ripple coin (XRP)
  • EOS coin (EOS)
  • Tether coin (USDT)
    • High-end margin trading Cryptocurrency Exchange site with avanced trading tools
    • High Liquidity Levels
    • Low fee
    • No KYC required, trade anonymously
    • Allows buying bitcoin with Fiat currency
    • Offers leverage up to 100X
    • Not available in US

    hitbtc exchange best altcoin trading platform
    • Accept more than 300 cryptocurrencies
    • Maker is charged 0.1% and taker is charged 0.2%  for unverified accounts
    • No deposit and withdrawal fee (network fee can be applicable)
    • Maker is charged 0.07% and taker is charged 0.07%  for verified accounts
    • Does accept fiat currency via SWIFT and SEPA
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Cardano (ADA)
  • Litecoin (LTC)
  • Qtum (QTUM)
  • The Abyss
  • Algorand
  • Cosmos (ATOM)
  • PAXOS
  • Chainlink
  • IOTA
  • Bitcoin SV
  • 200 more cryptocurrencies
    • Massive numbers of cryptocurrencies
    • Simple to use despite busy interface
    • No forced KYC
    • Large transactions have very low fee
    • Transparency issues
    • slow customer support
    bitmex exchange
    • Accepts only Cryptocurrencies
    • Uses Maker-taker fee model
    • Takers are charged with a 0.075% trading fee, and  for Makers fee is -0.025% (Thus, Makers get paid 0.025% for making trades). 
    • No deposit and withdrawal fee 
    1. BTC 
    2. ETH 
    3. LTC 
    4. XRP 
    5. ADA 
    6. BCH 
    7. EOS
    • One of the best and renowned Cryptocurrency margin trading platform
    • Low trading fee
    • Available worldwide
    • Offers up to 100x Leverage
    • Highly secure multisignature wallet
    • Can trade derivatives and futures

    • Fiat deposits are not accepted
  • Credit & debit card accepted
  • Bank transfer & SEPA, Cash
  • 5% transaction fee
  • 5.5% fee using the credit & debit card
  • Available worldwide
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Cardano (ADA)
  • Litecoin (LTC)
  • Qtum (QTUM)
  • Ripple (XRP)
  • One of the Best cryptocurrency broker
  • Buy & sell instantly
  • Security is robust
  • Cash is also accepted
  • Relatively high transaction fee

    cex.io exchange
    • Credit & debit card accepted
    • Bank transfer, SEPA
    • 7% instant buying fee with the credit card
    • maker-taker trading fee model
    • Maker: 0-0.16%, Taker: 0-0.25% 
  • BitTorrent (BTT)
  • Bitcoin Cash (BCH)
  • Bitcoin (BTC)
  • Bitcoin Gold (BTG)
  • Gemini Dollar (GUSD)
  • Ethereum (ETH)
  • Tether (USDT)
  • Chain Link
  • Matic
  • Ontology
  • OmiseGO (OMG)
  • USD Coin
  • Ontology Gas (ONG)
  • Wabi
  • NEO
  • GAS
  • BAT
  • Cosmos (ATOM)
  • TEZOS
  • Ripple (XRP) 
  • Dash (DASH)
  • Zcash (ZEC) 
  • Litecoin (LTC) 
  • Stellar (XLM)
  • MetaHash (MHC)
  • TRON (TRX)
  • One of the Best cryptocurrency exchange site and broker
  • Buy & sell altcoins instantly
  • No commission for bank deposits
  • offer wallet to store cryptocurrencies
  • Margin trading available
  • High buying fee with a credit & debit card directly

  • Credit & debit card accepted
  • Bank & Wire transfer
  • 3.99% trx fee using the credit & debit card
  • Available in 190 countries
  • Allows buying cryptocurrencies in only 32 countries
  • Also, an insured crypto wallet
  • One of the renowned cryptocurrency exchange
  • Altcoins deposits are insured
  • Relatively low credit card buying fee
  • Beginner-friendly to buy & store the coins
  • Allows buying cryptocurrencies in only 32 countries
  • lethargic customer support
  • binance exchange best altcoin trading platform
  • Accepts more than 200 Cryptocurrencies
  • Flat 0.1% instant trading fee
  • Binance derivatives trading platform enjoy even lower fees, starting at 0.02% / 0.04% for makers or takers respectively
  • Can buy crypto using Credit & Debit card via Simplex
  • Simplex charges 3.5% per trade
    • One of the top cryptocurrency exchange site
    • One of the Lowest trading fee platform
    • Can trade futures and derivatives
    • Using BNB token (Binance native coin) can reduce up to 50% trading fee
    • Robust secure multi signature wallet
    • Multi language support (100 +)
    • More than 250 altcoins available to trade
    • High daily trading volume

    Slow customer support

    Bestaltcoin trading platform for altcoin trading Bitfinex exchange
    • Accept fiat currency using bank wire transfer
    • Can buy crypto with credit & debit card (fee varies)
    • 0.1% deposit fee with bank wire
    • For trading derivatives Maker receives a rebate of -0.020%, Taker pays  0.075% trading fee
    • 0.1% Maker fee and 0.2% taker fee
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Cardano (ADA)
  • Litecoin (LTC)
  • Qtum (QTUM)
  • The Abyss
  • Algorand
  • Cosmos (ATOM)
  • PAXOS
  • Chainlink
  • 100 more cryptocurrencies available
    • One of the trustworthy and best cryptocurrency exchange site
    • Zero crypto to crypto conversion fee
    • Offer Derivatives trading with leverage 
    • Advanced app building protocols
    • High liquidity
    • Relatively low trading fee
    • Available worldwide including USA
    • Direct Credit card buying fee can vary from 3.5% to 10% depending on the chosen third party service provider
    huobi pro best altcoin trading platform for altcoin trading
    • Does accept Fiat currencies via bank transfer
    • 'Maker -Taker' fee model. Fee varies from 0.35% to 1%
    • Can buy crypto with credit & debit card 
    • 3.5% OTC fee (only for wallat balance)
    • Direct credit & debit card buying fee ranges 7% to 15%

    More than 100 cryptocurrencies available to trade including exchange native token Huobi token HT

    • Sophisticated cryptocurrency margin trading platform
    • Huobi token (HT),  Exchange native coin can be used for multiple benefits
    • HT payers can receive up to 50% trading fee discount and VIP membership for free
    • High Liquidity
    • Offer derivatives trading along leverage

     

    • Previously accused of Falsifying Trading Volumes
    • Relatively high trading fee
    okex exchange
    • Bank transfer, Sepa
    • Credit & debit card
    • Can buy and sell crypto with multiple payment methods including countries local payment methods like UPI in India 
    • Crypto buying fees varies depending on the payment methods
    • The Exchange charges 0.10% for maker fee and 0.15% for taker fee.
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • OKB Token
  • Ethereum Classic (ETC)
  • Cardano (ADA)
  • Litecoin (LTC)
  • Qtum (QTUM)
  • The Abyss
  • Algorand
  • Cosmos (ATOM)
  • PAXOS
  • Chainlink
  • 160 more cryptocurrencies available
    • The Highest Daily trading volume
    • Can buy & sell 160 cryptocurrencies directly with multiple payment methods
    • OKB token can used to claim 50% discount in trading fee 
    • One of the top exchanges for cryptocurrency trading margin and derivatives
    • Not available for US users
    • Direct crypto buying fee can be as high as 10%

    Frequently asked questions

    What is the methodology behind choosing the best cryptocurrency exchange sites list?

    Coinexpansion is dedicated to provide crypto users with unbiased and well researched information.  

    We have self tested and read other users experience about each top exchange for cryptocurrency listed above.  

    We have tried to provide our honest opinion and clear cut assessment of the services, features, offered by the above listed best cryptocurrency exchange sites.

    The landscape of cryptocurrency is risky and it requires investment So keeping this in mind, we have only chosen the cryptocurrency exchanges that are trustworthy, secure, easy to use, and have had a long-standing and proven level of quality.

    What are the different types of Cryptocurrency exchanges?

    There are primarily three types of exchanges. Cryptocurrency brokers, Cryptocurrency trading exchanges, and peer to peer cryptocurrency exchanges

    Cryptocurrency brokers - Cryptocurrency Broker allows users to buy cryptocurrencies at a slightly expensive price than an original market price of the cryptocurrency with Fiat currency directly and instantly. Cex.ioCoinmama, and Coinbase are few of the examples of cryptocurrency brokers

    Cryptocurrency margin trading platforms - These are the more traditional type of exchanges “similar to the stock exchange” where you trade cryptocurrencies at an open market price. These exchange sites offers multiple trading options like spot trading, margin trading, derivatives trading, etc. They also provide additional trading tools like trading view charts, crypto-pair order-book, demo trading etc. 

    Binance, Bitmex, ByBitOKEx exchange are the prime examples of these type of Cryptocurrency exchange sites.

    Peer to Peer (p2p) cryptocurrency exchanges - These types of Cryptocurrency Exchanges act as a middleman between the buyer and the seller and let them trade at whatever price they want. They used escrow service to counter the risk. The best part of these types of exchanges is that you can buy and sell the bitcoin using traditional as well non-traditional payment methods like Apple Pay, Gift Cards, Wallet, Cash, etc. Localbitcoins exchange is the best peer to peer cryptocurrency exchange site.

    Which are the best cryptocurrency exchange sites in India to trade Crypto?

    Bitmex, Binance, and ByBit are few of the top exchanges for trading cryptocurrency in India. I personally use all three of them.

    You can also try OKEx and Cex.io

    You can receive 50% trading fee discount if you signup for ByBIT using the link as well as $10 bonus on depositing your first $100.

    Which are the top cryptocurrency exchanges in India to buy crypto without any hassle?

    Localbitcoins, Cex.io and Coinmama are the top cryptocurrency exchanges to buy crypto in India.

    Localbitcoins offers a wide variety of payment methods to buy bitcoin like UPI, Paytm, Amazon gift cards etc. The whole buying process is quite speedy.

    I personally use Cex.io to buy bitcoins and other cryptocurrencies. If I wanted to buy using the credit & debit card or Bank transfer because they offer better rates.

    Which are the top cryptocurrency exchanges in USA to trade crypto?

    Coinbase pro, and Binance are the top cryptocurrency exchanges for US residents to trade crypto

    Which are the top exchanges for buying cryptocurrency in the USA?

    Coinbase, Cex.io, Coinmama, and Localbitcoins are the top cryptocurrency exchange sites for US residents to buy bitcoin and other cryptocurrencies instantly.

    Coinbase is the best option to buy crypto using the credit & debit card for US residents as it offers best rates.

    You receive $10 bonus on signing up for coinbase using the above link

    Which are the lowest fee cryptocurrency exchanges?

    Binance and ByBit are the lowest trading fee cryptocurrency exchange sites.

    You can also receive 10% trading fee discount at Binance when Signup using the above link

    You can receive 50% trading fee discount if you signup for ByBIT using the above link as well as $10 bonus on depositing your first $100.

    Which cryptocurrency exchanges have the most number of cryptocurrencies?

    Binance and OKEx cryptocurrency exchanges have the most number of cryptocurrencies.

    Which top cryptocurrency exchanges are regulated?

    Cex.ioCoinmama, and Coinbase  are few of the regulated cryptocurrency exchanges on the above list

    Last Updated on September 12, 2020 by harsh vasistha

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