10 Best Cryptocurrency Exchanges Of 2021
The field of cryptocurrency trading is continually improving. That’s why the number of new platforms is increasing tenfold. Each trader is primarily interested in profit. Therefore, you need to find out the best place to buy, trade, and store tokens. However, the number of platforms for buying and selling crypto money is in the hundreds. It requires spending a lot of time analyzing all the information. Let’s look at the rating of crypto exchanges in 2021, which will help choose a trading platform and open your first trade shortly.
Why Is It So Important to Choose the Right Cryptocurrency Exchange?
Everyone who decides to delve into the cryptocurrency universe once faces the question of choice. The point is that all trading services have their pros and cons. Somewhere is a high level of security, but there are very few currency pairs for trading. Other platforms have an intuitive interface but do not support buying crypto for fiat money.
Therefore, you need to select an exchange based on your own goals. In this case, it is necessary to choose several services. One platform can be used for long-term investments, another for daily transactions, the third would work with new currencies. Situations can be different and limited only by the trader’s imagination.
Attention! When you create an account on even the most popular cryptocurrency exchange, you need to trust your savings (and sometimes personal data) to the development team. Decentralized trading platforms began to appear relatively recently, and they’re the future. However, the market is now controlled by centralized exchanges that govern the use of cryptography. Hence, be careful when choosing a trading platform!
Top Crypto Exchanges Ranked By Volume
There’s one crucial indicator that speaks of the successful work and the crypto exchange’s influential position. We talk about the trade volume. A 24h financial turnover shows how popular a particular platform is.
A high position in the ranking of exchanges by volume speaks of thousands of traders who buy or sell a vast number of digital coins every day.
Our top of crypto exchanges is based on the current financial turnover of each of the trading platforms. Therefore, we propose to take a look at these top ten.
The top 10 largest cryptocurrency exchanges by daily trade volume look like this:
The Best Russian-Language Crypto Exchanges
It is much more convenient to use a service that supports the familiar language of communication. Therefore, the chance to make strong trades on such a crypto exchange in Russia is much higher.
A simple and straightforward Russian-language interface is one of the main benefits for Russian and CIS users. Such sites take into account the characteristics of local markets and the wishes of the target audience.
It’s what the rating of Russian-language cryptocurrency exchanges looks like.
|1||Binance||Russian, English, Chinese, Spanish, French, German|
|2||Binaryx||Russian, English, Chinese, Spanish, German, Portuguese, Turkish, Japanese, Corean, Vietnamese, Polish|
|3||Huobi||Russian, English, Chinese, Spanish, French, German, Turkish|
|4||BitMEX||Russian, English, Chinese, Japanese, Corean|
|5||Exmo||Russian, English, Chinese, Spanish, French, German, Italian, Polish|
More and more residents of Russia decide to invest in cryptocurrencies. Hence, it’s no wonder that the Russian Federation will remain in the top 5 countries by digital coins’ popularity in 2021.
Developers remember this when creating new trading platforms and updates of popular websites.
Best Crypto Exchanges for Beginners
If you are a newbie crypto trader, pay attention to the platforms which were primarily created for beginners. You may find those real market mastodons in the list of top crypto exchanges. Such services can quickly swallow a novice trader, but there’s no chance for beginners. But they need some time and suitable conditions for getting to know the market and the necessary working tools.
We believe that this is a correct way to delve into the crypto market’s basics step by step. After all, dealing with crypto brooks no rush.
As for the specific rating of cryptocurrency exchanges for beginners, here are our top 5:
These websites are the best solution for those who are just learning how to work with digital currencies. Such platforms will allow you to close deals without a wealth of knowledge. After all, the most important thing is the right start.
Top 10 Cryptocurrency Exchanges of 2021 Based on Traders’ Reviews
You need to evaluate specific sites when choosing a place for trading objectively. Reviews help a lot with this. Indeed, in theory, you can always talk about the pros and cons of crypto exchanges, speak loudly about them, and operate with a distinct lexicon. However, the real opinions of traders will give a correct picture of a particular service.
The largest crypto forums are the central platform for discussions. People have the opportunity here to express their opinion, leave feedback, and give a piece of advice to new traders.
Let’s take a look at the list of the best crypto services of 2021 based on trader’s reviews:
Top 5 Crypto Exchanges of 2021 With the Withdrawal of Funds
There are a lot of ways to withdraw funds from cryptocurrency exchanges online. Therefore, the ability to and profitably get digital assets is a vital advantage for many traders. A certain number of platforms offer a small number of payment services. In contrast, others allow crediting to a bank card or even receive a cash payment.
It should be noted, however, that not every service supports fiat money. We propose you to learn the top platforms that allow you to withdraw funds in US dollars, euros, and Russian rubles.
Рейтинг лучшие биржи криптовалют с возможностью снятия средств:
|#||Name||Ways of withdrawing||Currencies|
|1||Binance||Advcash e-wallet/Visa and Mastercard bank cards||USD/EUR/RUB and others|
|2||EXMO||cash/Yandex.Money, QIWI, and other e-wallets/Visa and Mastercard bank cards||USD/EUR/RUB and others|
|3||Bithumb||cash/Yandex.Money, AdvCash, PayPal, and other e-wallets/Visa and Mastercard bank cards||USD/EUR/RUB and others|
|4||Bitfinex||cryptocurrencies/Visa and Mastercard bank cards||USD/EUR/GBP and others|
|5||Binaryx||cryptocurrencies/Visa and Mastercard bank cards||USD/EUR/RUB and others|
Types of Crypto Exchanges
Crypto trading platforms can be divided into centralized (CEX) and decentralized (DEX). The vast majority of cryptocurrency trading transactions on the exchange are carried out on controlled services. Still, independent sites are already appearing on the market.
These exchanges offer to buy or sell an extensive list of digital coins. Cryptocurrencies can be purchased here for:
- the most popular tokens: BTC и ETH;
- stablecoins (USDT, TrueUSD, TrustToken etc.);
- own coins of the largest cryptocurrency exchanges: Binance Coin, Huobi Token and so on.
That is, to buy crypto on CEX, you need to convert fiat early on a fiat platform or in an exchanger.
Despite some distinctions, such websites offer a wide variety of coins. You can also find common altcoins here (XMR, XRP, LTC, and many others).
Let’s talk about the number of digital assets available for buying and selling. It is worth noting that centralized exchanges are subject to government regulation (albeit to a lesser extent than classic trading platforms). However, this position allows you to buy those coins that are developed by specific companies and people. Therefore, the chance to run into scammers is minimal here.
Besides, CEX offers high-grade trading conditions. So, certain services allow you to trade crypto futures on commodity and options exchanges. However, the requirements for closing deals are high here, even for those who trade on a professional level. Therefore, centralized major crypto exchanges are an excellent solution for beginners or those with minimal start-up capital.
Now let’s talk about decentralized exchanges (DEX). Cryptocurrency exchanges without verification differ from centralized platforms. There are no agents when making transactions between sellers and buyers. That is, DEX offers transparent trading conditions for makers and takers, so the commission for a trade is much lower here.
Attention! Despite the openness, the use of autonomous exchanges for trading carries certain risks. So, there is always the possibility of losing digital coins due to a failure on the exchange.
From the name of decentralized exchanges, it is clear that a specific company or people don’t control such services. They are created based on Blockchain technology and have a greater anonymity degree than centralized sites. It’s all because they don’t require verification of the trader’s identity.
DEXs are highly secure since cryptocurrencies are stored in users’ accounts, not within the platform. Hence, a hacker attack on such services does not make sense.
But with all the benefits, independent crypto trading platforms are not very popular. It turns into another disadvantage of such services: low liquidity and low daily turnover. Therefore, crypto transactions on such a service are more time consuming than CEX.
A few words should also be said about the functionality of such sites. Independent trading platforms do not have most of the tools that professional traders use, including stop losses, margin trading, and many other things.
Other drawbacks of DEX are the following:
- A small number of currency pairs to trade. Since most independent exchanges are based on smart contracts, they only allow trading with those assets that the platform itself supports;
- Lack of full-fledged customer support.
The top 10 cryptocurrency exchanges without a single control center include such platforms: Binance DEX, Waves DEX, Bancor Protocol, Bisq, Kyber Network, and 0x.
It must be specially noted a DEX from one of the largest exchanges in the world. When creating an independent platform, the Binance company tried to combine the benefits of centralized and decentralized exchanges. The result is a kind of mixture. The development team has perfectly combined the stability of CEX and the high security of DEX.
Experts believe that such a solution from Binance is intended to solve low liquidity as one of the main problems. However, traders still have concerns about the freedom of Binance DEX, as the parent company controls most of the blockchain nodes.
Types of Trading Fees on Crypto Exchanges
Popular cryptocurrency exchanges charge specific fees for their services. They are mainly divided into two types:
- for depositing and withdrawing funds from the balance;
- for conducting transactions.
The amount of fee for depositing and withdrawing money depends on the type of transfer. There are different commissions for bank transfers, deposits from a plastic card, or renewal from e-wallets. Deposits and withdrawals in digital coins are carried out without fees from the service; you need to pay a commission to the miners. It can be even lower if the most reliable cryptocurrency exchange conducts operations using the SegWit protocol.
Also worth noting are fees as a percentage of the bid amount. Usually, this value is up to 0.25%. Still, in some cases, it needs to pay 1% of the sum for placing an order on the site.
Besides, some platforms offer different fees for makers and takers. The first type of traders places orders in the order list; the second one buys assets on the site. Simultaneously, commissions for makers are lower than for takers because such users create liquidity in the cryptomarket.
Some websites do not charge trading fees. They are becoming more and more popular, but so far, they do not have high liquidity. In some cases, higher withdrawal fees may be required instead of trading fees.
So we have finished analyzing several lists of crypto exchanges. Finally, it should be said that each trader thinks about the potential profit when choosing a trading platform. And this is normal because the main task is to increase the starting amount.
You should pay special attention to user reviews, ratings of major cryptocurrency forums, and the functionality when choosing a crypto exchange. Further actions are effortless: highlight the most exciting options and go through the details (profitability of buying or selling, user-friendliness of the interface, security level, etc. After such a thorough study, you can choose one exchange and entrust your assets to it.