A cryptocurrency exchange is a service where you can work with digital coins, swap them, and do other operations with the purpose of making money on the price difference.
Crypto exchanges may be of the following types:
- Simple exchange – a small service with a limited number of assets available;
- Decentralized exchange – no regulators control and no guarantee for security, though fast and direct transactions;
- Centralized platforms – services operating officially and complying with regulators’ requirements.
If we were asked to name the best crypto exchange, we would answer a centralized one.
Here is the list of top crypto exchanges:
- Binance
- OKX
- FTX
- KuCoin
- WhiteBIT
Let’s take a closer look at these platforms.
#1. Binance
It is the biggest crypto exchange in the world. It offers probably the largest list of digital assets and a complete set of tools for trading. The exchange offers an application for faster trading on the go.
Novice users will maybe find Binance rather complicated, so it will take time to get used to the interface and handle all the functions. On Binance, you will also find educational information and market charts, which are very suitable for market studying.
There is also an NTF platform on Binance. Users from the USA cannot access futures trading. Fees: 0.50% for purchasing or selling digital assets, 4.5% – for operations using debit cards, and 0.00% to 0.1% – for trades.
It is an excellent crypto exchange in the UK as well as in many other countries, though the function is limited to the USA.
#2. KuCoin
The platform operates in over 200 countries but is not licensed in the USA. In terms of trade volume, KuCoin is one of the largest platforms, with over 10 million clients. It offers more than 600 digital assets. Traders are welcome to use the mobile app, which is pretty convenient.
The fees are average – 0.0125%-0.1%. The platform has its native token – KuCoin Token, which can be used for paying fees. The exchange complies with regulatory requirements and all industry standards. Still, the platform was once hacked. Since then, the exchange developers have given special attention to safety, providing several layers of user protection.
#3. WhiteBIT
This is another crypto exchange in the UK and other European countries, which has become one of the most popular with over 2 million users and over 400 crypto pairs available.
The platform is focused on users’ security and protection of their funds; thus, 96% of clients’ funds are kept in cold wallets, which means they stay offline, and hackers have no chance to reach them in any way.
The exchange is suitable for novice traders. The interface is easy to comprehend; moreover, you can adjust it depending on what functions you work with. The educational section, charts, and lightning-fast customer support contribute to the user base expansion.
The fee policy is not complicated – 0,10% regardless of the sum you trade. The platform offers a wide range of functions:
- Staking (passive income)
- Futures trading
- p2p
- Spot
- Codes
#4. FTX
The platform also offers futures trading as well as some other features that you will not find in other crypto platforms: it opens access to stocks, forex, leveraged tokens, etc. FTX does not offer a full range of functions in the USA because of strict regulations; however, it has a partner exchange FTX.US, that offers a range of limited functions for USA traders.
#5. OKX
The platform is focused on the European market and is not available for USA users. The fees charged are the same as for WhiteBIT – 0,10% and can be even less.
Staking is available with high interest. You can buy digital assets with a bank card. So here we talked about the top platforms for trading, and we dare say that WhiteBIT is the best crypto exchange for it is suitable for beginners and charges low fees, along with a high level of protection and a complete set of trading tools.
