Best Crypto Exchange & Trading Platforms in 2023 Reviewed

What Is a Cryptocurrency Exchange?

A crypto exchange is a platform to allow crypto trading, a place where you can buy and sell crypto blazingly fast. You can use crypto exchanges to trade one asset for another, exchange various assets, stake coins, and even convert crypto to fiat and backwards. 

Types of cryptocurrency exchanges

• Regular exchanges: a platform to exchange crypto and capitalize on related activities. Most exchanges fall under this category
• Brokers: Dealer networks trading fund pools, crypto, and pair them up for users
• P2P: Direct interaction and peer-to-peer transactions

Methodology on How We Find the Best Cryptocurrency Trading Platform

You might probably want to get the best out of the crypto market and attain a profitable upper hand. The best cryptocurrency trading platforms can maximize your chances, but how do you spot them? We evaluated dozens of platforms and derided criteria specific to the best cryptocurrency trading platform.

• Simplicity. The easier you can use and access the platform, the better your trading. 
• Privacy. Your trading data should be immutable. The platforms that care about personal data also usually care about your privacy overall. Your funds would be safe and sound, which is why we check vulnerability issues related to security and protection of your privacy.
• Speed. Time is money, which is literally the case for trading. Faster platforms imply more trading opportunities and potentially higher profits as a result. 
• Trading fees. Trading in cryptocurrencies costs vary across the board. We compare the additional costs to discern which users can get the most out of their transactions.
• Trading limits. Platforms can apply limits on the number of transactions that users can do. We check if these limitations are justifiable and if these restrictions can still allow users to effectively and efficiently manage and make deals and transactions.
• Credibility. We pick only reliable platforms that have been working for a while, so you can be sure there are no risks related to reputation.

3Commas comprehensive review process evaluates and ranks software and companies that allow U.S. customers to buy and sell cryptocurrency. We aim to provide an independent assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data and conduct first-hand testing and observations that fuel our assessment process. Over 30 factors affect the final output. Some more factors you can explore.

• Margin Trading. Leverage may be quite important if an exchange lacks liquidity. Experienced traders also use leverage to maximize profits and make the next money moves. That’s why we’re looking for such an option supported.
• Platform Availability. Broad geography plays a big role, as not all countries support all trading software. 
• Basic & Advanced Trading Features. The number of cryptocurrencies available to trade, fiat currencies accepted, the overall liquidity, and trading fees. Advanced features like order types and volume discounts for frequent trading.
• Customer Service. Available types of customer support.
• Learning curve. We evaluated the content quality. Its structure, completeness, and relevance affect the score.
• Storage. Types of storage options, overall security, and insurance you can get. Also, recent hacks and breaches, if any. 
• Staking, Lending, and Rewards. Many platforms allow staking and lending, but the rates differ. We picked the best rates.
  

Top 22 Crypto Exchanges and Trading Software

Given these points for consideration, we have evaluated 22 best cryptocurrency trading platforms and assessed their respective performance impartially, ensuring that each platform listed provides extensive service, reassuring security, and includes the best bitcoin site to cater to your trading needs.

1. Binance — Best Cryptocurrency Trading Platform Overall

Binance remains the best cryptocurrency trading platform all over the world and secures the top spot in our list. Its innovative features and functions that cater to a myriad of services make it exceptional over other trading platforms. Users can avail bitcoins and altcoins with more than 40 fiat currencies, and the crypto industry is pumped with its proactive community. 

• Ease of Use – Its interface can be adjusted to Basic, Classic and Advanced screens to cater to users of different trading literacy levels.
• Privacy – Binance collects basic information about users to get verified. User privacy remains uncompromised as it is written that the platform will not share it with any third party without a review from its legal case, and consent from the user.
• Speed – Users can buy bitcoins and other 15 top cryptocurrencies in a snap using 40 of the most popular fiat currencies. This can be done through traditional payment methods such as bank transfers. It can also handle a large number of transactions with minimal traffic and process transactions within two hours.
• Fees – Binance charges 0.1% cut of every trade it receives. Thus it stands as one of the cheapest platforms available. You can even lessen this through discount promos such as Binance Coin and referrals (up to 25%). View details
• Reputation – Binance has earned great trust from its users. Following a hacking attack last March 2018, the exchange tightened its security and enabled two-factor authentication.
• Limits – There are very minimal limits on user deposits and withdrawals. Limits are lifted once users are verified.

2. OKX - Great flexibility and service offerings

OKX is one of the best crypto currency trading platforms because of transparency and flexibility of their service offerings. They have a very responsive development team and are quick to incorporate new tools for users. They have a large library of currencies you can trade, and their liquidity makes them a good match for automated bot trading.  

• Ease of Use – Their interface is simple and relatively easy to understand and navigate.
• Privacy – OKX collects basic information about users to get verified via KYC. User privacy policy states that the platform will not share it with any third party without a review from its legal case, and consent from the user.
• Speed – OKX has a history of being really friendly with bot trades, which operate at the speed of their API connection. They experience few errors and bot traders are generally satisfied with the performance they get from OKX.
• Fees – OKX fees are in the middle of the pack. Keep in mind that the exchanges with the lowest fees also tend to offer the least support and fewest features.
• Reputation – For the past several years, OKX has stood out for doing right by their customers.
• Limits – There are very minimal limits on user deposits and withdrawals. Limits are lifted once users are verified.

3. Bybit – Best Cryptocurrency Trading Platform With Leverage

Bybit is famous for its 100:1 leverage on perpetual futures products. Over the course of years, it has managed to multiply its liquidity, making this a top consideration for some traders — a liquidity role for the investor is vital. 

• Bybit Ease of Use – It has a powerful and well-designed interface that is straightforward to navigate. However, it is filled with advanced options that can be too much to handle for beginners.
• Bybit Privacy – This platform is perfect for anonymity as it does not ask users for any personal information.
• Bybit Speed – The exchange can manage up to 100,000 transactions per second.
• Bybit Fees – The platform follows a “maker-taker” fee model. When users take liquidity off their books, they will be charged; while when they make liquidity, they will be given rebates.
• Bybit Reputation – The exchange stands on good reputation due to its effective security measures. It utilizes cold storage that acts as a secure inventory of clients’ funds. This exchange also operates in full SSL encryption to evade attacks.
• Bybit Limits – Withdrawal limits apply because a major portion of funds is in cold wallets. You will wait to get your hot wallet refilled.

4. Deribit – Best Cryptocurrency Trading Platform For Futures and Options Exchange

Deribit offers leverage as high as 1:20 in trading futures. It is also one of the rare platforms that provide Bitcoin options.

• Ease of Use – A diverse set of functions are laid out in a clean, sophisticated interface.
• Privacy – Does not require users to submit verification documents.
• Speed – Its average order execution delay is only 6.1 milliseconds.
• Fees – Aside from the futures contract price of $10 apiece, there is a Maker fee amounting to 0.02% and a taker fee of 0.05%. A cost of 0.04% is applied for options trading.
• Reputation – Deribit has a clean record.
• Limits – The exchange has low limits up to 1 BTC daily. Users can enjoy higher limits upon completing the demanded verification.

5. Cryptowatch — Best Cryptocurrency Trading Platform for Market Variety

Cryptowatch is a cryptocurrency terminal that delivers up-to-date real-time reports and data from over 150 world cryptocurrency markets.

• Ease of Use – The interface of the website is plain and direct. It is easy to navigate.
• Privacy – It collects user and trading data securely through military-rated AES256 encryption.
• Speed – The speed of the platform depends on the plan you are subscribed to.
• Fees – It operates under a three-tier pricing plan ranging from $0 to $75 a month.
• Reputation – This platform is known for its topnotch performance and stringent security.
• Limits – The basic plan has 5GB allotted per month while Pro has 75GB per month.

6. Coinbase – Best Cryptocurrency Trading Platform For Beginners

Coinbase is notable for its great functionality and accessibility. Coinbase serves as a Bitcoin exchange and wallet provider.

• Ease of Use – Coinbase has an intuitive and beginner-friendly interface.
• Privacy – It’s obligated to report some of its users’ information to regulatory bodies.
• Speed – It has patented a feature of allowing users to send bitcoin to the recipient’s email address.
• Fees – For transactions under $200, a minimum fee is applied.
• Reputation – Coinbase is widely known for its legitimacy.
• Limits – Limits vary depending on the status of the account.

7. PrimeXBT – Best Bitcoin Trading Platform Without Verification

PrimeXBT is a top choice for margin trading since it offers leveraged trading for a number of different assets. It also encompasses 6 cryptocurrency pairs with a max leverage of 100x.

• PrimeXBT Ease of Use – The platform has a simple and straightforward interface.
• PrimeXBT Privacy – A full SSL encryption.
• PrimeXBT Speed – A relatively fast transaction speed.
• PrimeXBT Fees – It demands a trade fee (for entering position) and overnight fee (for financing position overnight).
• PrimeXBT Reputation – It’s known to implement security measures such as user authentication to prevent hackers and fraud.
• PrimeXBT Limits – There are no withdrawal limits; however, limits on transactions are imposed depending on asset liquidity, volatility and market indicators.

9. Bittrex — Best Bitcoin Trading Platform For User-Friendly Interface

Bittrex is a US-based exchange trading platform. Aside from the multitude of currencies allowed for spot trading, it underscores user security.

• Ease of Use – Has a simple interface that allows for quick loading times.
• Privacy – It has no disclosure of user information.
• Speed – Has speedy and stable transactions.
• Fees – Has relatively higher fees.
• Reputation – It has been praised for its security and has a clean record.
• Limits – It has withdrawal limits on unverified users.

10. Bitfinex — Best Bitcoin Trading Platform for High Liquidity

Bitfinex is hailed by users as the most liquid exchange trading platform since it allows traders to sell and buy cryptocurrencies from a large volume of markets.

• Ease of Use – The interface is friendly and even customizable, increasing its functionality.
• Privacy – It tracks behavioral patterns and manual inspections of unusual and malicious withdrawals.
• Speed – Withdrawals can take up to 12 hours to be processed.
• Fees – It follows a maker-taker model starting from 0.2% for takers and can ebb as low as 0%.
• Reputation – It is able to redeem its reputation from previous attacks when it revamped its security.
• Limits – Verified users are not subjected to any limitations.

11. Huobi — Best Bitcoin Trading Platform In Asia

Huobi is a cryptocurrency exchange platform that mainly dominates Asian industries.

• Ease of Use – It has a smooth and fast user interface.
• Privacy – It faced allegations of wash trading to inflate the volume of membership, which can harm user privacy.
• Speed – Some traders experience delays.
• Fees – It follows a competitive 0.2% fee on both makers and traders. Members enjoy a 65% reduction in fees.
• Reputation – It continues to impress users with its responsive customer support.
• Limits – Transaction limits apply with the hot wallets of the platform.

12. KuCoin — Best Bitcoin Trading Platform for Altcoin Traders

KuCoin is able to develop its own rewards currency, KuCoin Shares (KCS), giving holders a 1% discount on trading fees. It also offers an exceptionally wide range of cryptocurrencies.

• Ease of Use – The interface itself is easy to navigate. However, English language support is sometimes limited, making it hard to comprehend content.
• Privacy – Minimal personal information is needed simply for the sake of verification.
• Speed – Services may be delayed, especially during high traffic hours.
• Fees – Fair and reasonably lower than other exchanges, fixed at 0.1%. Withdrawal fees may vary.
• Reputation – It is established as an early adopter pertaining to the ability of buyers to hold coins while they are still cheap.
• Limits – KYC verified users enjoy a higher daily withdrawal limit ranging from 2 BTC (unverified) to 100 BTC (verified).

13. CEX.IO — Best Bitcoin Trading Platform for Aggregated Liquidity

CEX.io expanded to a platform that allows users to buy cryptocurrency easily through credit card, wire transfer, SEPA/ACH transfer. It serves as both a trading platform and a brokerage service.

• Ease of Use – The user interfaces in both the mobile app and the webpage are well designed.
• Privacy – It follows KYC standards.
• Speed – It can process most credit card purchases instantly.
• Fees – Trading fees are at a record-low 0.25%; however, brokerage trade can reach as expensive as 7%.
• Reputation – It is a registered and legitimate company.
• Limits – Depends on user verification. Verified accounts can purchase up to $1000 worth/day.

14. Coinmama — Best Bitcoin Trading Platform for Alternative Depositors

Coinmama is a brokerage service that allows you to buy crypts through alternative payment methods.

• Ease of Use – The platform is easy to navigate.
• Privacy – It requires a lot of personal information for verification.
• Speed – The verification process is long.
• Fees – Can amount to 5.9%, which is considered as high.
• Reputation – It strongly adheres to the provisions of KYC and AML
• Limits – The minimum Bitcoin purchase you can make is 60 USD. Daily buying limit for starters at 5000 USD. Limits go higher as you get verification.

15. eToro — Best Bitcoin Trading Platform Among Online Brokers 

Crypto exchange eToro supports cryptocurrency trading in addition to Forex, Stocks, and more. The platform also offers a powerful social trading program that surpasses traditional investing in several ways.

The eToro exchange allows trading cryptocurrency, stocks, and ETFs for as little as $10. Plus, you can follow more experienced traders [with successful track records] to capitalize on their knowledge for a small fee. 

• Ease of Use – It offers a user-friendly and visually pleasing trading platform. Social trading is also supported, as well as customizability.
• Privacy – It requires minimal documents.
• Speed – Withdrawal processing can consume about 3-8 working days.
• Fees – Offers zero-commission real stock trading.
• Reputation– It imposes added security.
• Limits – Has a maximum deposit amount of $10,000 per day.

16. Coinbase Pro — Best Bitcoin Trading Platform For US Buying Crypto

Coinbase PRO is an alternative exchange platform for more skilled and experienced traders. Although it only offers Spot trading, it is lauded for its low fees and trading signal features.

• Ease of Use – It includes basic functions.
• Privacy – It stores a valuable amount of personal information from users.
• Speed – Bank transfer deposits can take up to 3-5 business days.
• Fees – Has low fees ranging from 0% to 0.50%.
• Reputation – It’s supported by legalizing documents and licenses to operate.
• Limits – Deposits are unlimited, and you can trade to your heart’s content since there are no restrictions.

17. Kraken — Best Bitcoin Trading Platform For Self-Educating Traders

Kraken is a platform of an exhaustive and extensive list of different trading options, including placing the usual limit orders and stop-loss orders.

• Ease of Use – It’s suited for advanced and professional traders.
• Privacy – It only asks for simple personal information for verification.
• Speed – Transactions are processed in an instant.
• Fees – It charges per-trade, ranging from 0.16% (markers) to 0.25% (takers).
• Reputation – It is clean of hacking records.
• Limits – Deposit and withdrawal limits correspond to your account level. Limits are calculated separately for cryptocurrencies and fiat.

18. Poloniex — Best Bitcoin Trading Platform for Experienced Traders

Users can access margin trading through Poloniex with leverage reaching 2.5x for certain pairs.

• Ease of Use – It comes with a simple, well-designed interface.
• Privacy – This exchange has a straightforward and direct verification process.
• Speed – This table is able to deal with most transactions, not taking more than 24 hours.
• Fees – It follows a maker-taker model that amounts to 0.09% (both maker and taker).
• Reputation – It suffered a history of hacking.
• Limits – There are limits on withdrawals in trade and on margin.

19. Bitstamp — Best Bitcoin Trading Platform for Automated Trading

Bitstamp is already dubbed as a veteran and a highly respected cryptocurrency exchange platform in the industry. It is best suited for traders located in the EU.

• Ease of Use – Its web-based platform is well laid out and relatively easy to navigate.
• Privacy – It adheres to KYC regulations.
• Speed – Transactions are generally processed within 1-3 days.
• Fees – Trading fees are reasonable and depend on the trading volume.
• Reputation – It already has a great long-term reputation.
• Limits – There are no deposit limits for verified users.

20. Gemini — Best Bitcoin Trading Platform for Ether Trading

Gemini is a pure crypto exchange renowned for trading Bitcoin and Ether pairs. Last April 2013, they invested $11 million, and, at present, it multiplied to a total of $1 billion.

• Ease of Use – The interface is user-friendly and well-designed.
• Privacy – It demands a lot of personal information.
• Speed – Transactions are easy to process.
• Fees – It follows a maker-taker fee over a 30-day accumulation volume.
• Reputation – This strictly follows the standards of AML and KYC.
• Limits – There is a fixed limit on the amount you can transfer ($500 per day) and a withdrawal limit of $10,000 per day.

21. Changelly — Best Bitcoin Trading Platform For Mid-Cap Tokens

Changelly provides popular altcoins for crypto exchange, having the best price for you.

• Ease of Use – Chanelly is much simpler and more intuitive than other platforms.
• Privacy – Address is the only required information from users.
• Speed – High traffic on the platform can lead to delays in transactions.
• Fees – It has a transparent fee of 0.25%.
• Reputation – There is no record of theft or scams.
• Limits – First transaction is limited from $50-$10,000; $20,000 (daily); $50,000 (monthly).

22. LocalBitcoin — Best Bitcoin Trading Platform for P2P Trading

LocalBitcoin has a unique feature as this platform has direct communication among sellers and buyers.

• Ease of Use – The platform is easy to navigate and is patterned after direct selling sites.
• Privacy – It employs extra security measures on user accounts.
• Speed – Transactions are generally completed within 1-2 days.
• Fees – Great thing about this is it charges zero for transaction fees. Advertisement fees of 1% are optional.
• Reputation – Its good reputation stems from its secure trading features.
• Limits – Limits depend on the user verification level (T0-T3).

Best Crypto Exchanges and Apps 

Robinhood Crypto — Best Cryptocurrency Trading Platform among Online Brokers

Robinhood Crypto is one of the leading apps to buy cryptocurrencies and traditional investments like stocks and options. With a wide range of popular crypto, it allows immediate deposits and 0% commission on your trades. However, you can only trade selected assets and can not withdraw them off the platform.

Webull Crypto Account — Best Cryptocurrency Trading Platform for Traditional Investors

Similar to Robinhood, Webull doesn’t charge fees for trading. You don't pay anything for each trade with a 1% spread [and beyond]. Both platforms share the same drawback — the lack of cryptocurrencies offered.

TradeStation Crypto — Best Cryptocurrency Trading Platform for Lower Fees Among Traditional Platforms

TradeStation Crypto charges a small fee of 0.3% for your trading experience. Unlike Robinhood and Webull crypto, you can withdraw your assets to a non-custodial wallet like Metamask. The list of crypto assets at your disposal is still pretty limited.

Buying Crypto within Cash and Payment Apps 

CashApp — Best Cryptocurrency Trading Platform Among Cash Apps

CashApp is a peer-to-peer money transfer system run by Square. It allows you to buy/sell Bitcoin via your own crypto wallet. Many other cash apps do not allow custom wallets. You pay a small fee for each trade. 

The among depends on price volatility and the overall volume traded. The app limits withdrawal due to regulation policies across the globe — you can withdraw $2000 worth of Bitcoin daily or $5000 weekly. 

PayPal — Best Cryptocurrency Trading Platform for Adoptions Among Cash Apps

Similar to CashApp, you may purchase or sell Bitcoin via PayPal services. PayPal only allows its own crypto wallet due to regulations. In other words, you can’t use your own crypto wallet for crypto transactions via PayPal. However, the fee depends on several factors and is not always good for retail investors. 

Associated trading fees sit around 1.5% on average but vary — fee depending on several factors like current market conditions and your tier. Additional fees may range from 0.5% to 2.3% from low-volume tiered transactions to higher ones.

The overall fee structure adds up to an estimated 0.5% trading cost + your tier. You can buy up to $20,000 worth of crypto a week or $50,000 during a year. You can also buy other services using Bitcoin and PayPal. But any Bitcoin sale entails paying taxes on top of the service cost. 

Venmo — Best Cryptocurrency Trading Platform for Alternative Traditional Cash Apps

Venmo cash app has joined the crypto club recently and allows Bitcoin [BTC], Ether [ETH], Bitcoin Cash [BCH], and Litecoin [LTC] operations. Venmo mirrors PayPal in fees — an estimated 0.5% trading cost and your tier. The limits are the same: $20,000 weekly buys or a $50,000 yearly cap to purchase crypto via Venmo/Venmo app.

How is investing in the best cryptocurrency trading platforms different from traditional investment in stocks, bonds and funds? 

Cryptocurrency trading differs from traditional investment in various ways. Let's discuss the key points of difference.

Trading in cryptocurrencies is far more expensive than traditional assets, which have seen fees progressively fall in recent years. When trading Bitcoin, for example, depending on the payment method, you may spend 5% or more in costs. On the other hand, purchasing assets through a robo-advisor can cost as little as 0.25%, allowing you to keep more of your money invested.

Customer service in the cryptocurrency market has fallen behind that of traditional brokerages. Since crypto is associated with more risks overall, you have more responsibility for protecting your crypto assets from theft, scams, etc. This is double as important if you're using a non-custodial digital wallet. While exchanges like Binance protect you from losses due to sitewide hacks, you won't be protected from personal attacks on your wallet. A phishing attack or false link are both shining examples you might want to avoid at any cost. 

American Express® High Yield Savings Account — Best Cryptocurrency Trading Platform for Conservative Investors

AMEX savings account is one of the most popular alternatives to crypto trading & investment. The account helps those looking for easy set up and a relatively competitive interest rate.

Discover Bank Online Savings — Best Cryptocurrency Trading Platform for Stock Investors

Discover Bank Online Savings allows you to earn cash back when you make qualifying debit card purchases each month, and it provides free access to a broad ATM network. 

The online bank also offers a solid high-yield savings account. You might want to pick alternative investment options if you value competitive rates, offline checking perks, and ATM access over physical branches.

SoFi Checking and Savings — Best Cryptocurrency Trading Platform for Bondholders

SoFi Active Investing is another excellent option, especially if you’re a conservative investor. A SoFi Member can buy and sell five different cryptocurrencies, take out loans, save, and trade stocks. SoFi does charge extra fees for all-in-one investment conveniences you can experience within the platform.