Cryptocurrency exchanges
The Best Crypto Exchanges 2023
It's not easy to decide on which crypto exchange to choose and which might be the best exchange. Before you can actually find the best exchange, you need to figure out what are the differences between various crypto exchanges.
After that you can compare those elements. We have tried to make it easier for you and created a simple crypto exchange comparison page.
Which is the very best cryptocurrency exchange?
Best is a very subjective word and the best cryptocurrency exchange for one person might not be the best exchange for the other.
Right now I am personally using Binance because its simplicity.
But even they have their kinks which you can read in our Binance review.
My second favorite exchange is currently Gate.io. The reason is mainly their wide variety of altcoins. You can read our Gate.io review here.
Best exchanges with high volume
Why is the trading volume important?
Imagine you want to sell a house. If you live in a city, you can just put up a sign and hopefully sell it in no time. There are lots of people around who might be interested.
But imagine if the house was on a deserted island with nobody else around. And you didn't even have a way to let anyone know you're selling a house.
The difference is the same with cryptocurrency exchanges.
You want to have people around who would be interested in selling you cryptos or buying cryptos from you.
And you want the people in there to have enough money so you could quickly buy or sell any amounts.
High volume exchanges make it easy.
Find the best high volume crypto exchanges here.
But here are just a few great high volume exchange to mention:
Best exchanges with low fees
Every deposit or withdrawal you make, every transaction you complete, it all costs something. The more trades you make, the more important it becomes to find a crypto exchange with as low fees as possible.
Base trading fees normally vary between 0.1% and 1%, with a few asking for more, or asking for less.
Here are just a few crypto exchanges with 0.1% fees:
Find more low fee crypto exchanges here.
Best no KYC crypto exchanges
Most popular crypto exchanges ask you to verify your identity and go through the KYC process. But if full anonymity is important for you, you can choose an exchange that doesn't require you to verify your identity.
They can be a little more risky, as if you lose access to your account, it's nearly impossible to fix it.
But sometimes anonymity is important.
Here are just a few of the best no-KYC exchanges:
Learn more about no-KYC exchanges here.
Best fiat crypto exchanges & best exchanges for beginners
What is a cryptocurrency exchange?
Cryptocurrency exchange is a basically an online business that allows you to buy, sell, or hold cryptocurrencies.
In most cases you can buy cryptos there for real money (so for fiat currencies like EUR or USD) as well as trade one cryptocurrency for another.
What should you pay attention to when choosing the exchange?
There are a number of things to consider before joining a cryptocurrency exchange and the following list is far from complete:
- License and trust factor. While crypto market is still sort of a gray area even in 2021. You should still choose an exchange which is regulated by someone. Just to make sure your money is safe.
- Deposit/Withdrawal methods. You need to find an exchange that offers the deposit and withdrawal methods that suit you. Another thing to keep in mind here is that not all exchanges allow you to make deposits with fiat money (they only accept crypto transfers from your crypto wallet). At the same time not all exchanges allow you to make cryptocurrency withdrawals (they only allow withdrawals in fiat money).
- Fees. All cryptocurrency exchanges are there to make money. And all of them charge you fees for deposits, withdrawals, for trades. So make sure you choose an exchange where the fees would be low enough.
- Cryptocurrencies and trading volumes. You will also want to choose cryptocurrency exchange that has a lot of cryptos you can buy/trade and where the trading volumes are high enough as well.
I became interested in cryptocurrencies only a bit more than two years ago. Since then I have been in investing in cryptos using different exchanges. And I also launched Cryptolorium.com when I started trading, just to share my crypto journey and my results.