The cryptocurrency market has been booming in recent months. the whole world talks about cryptocurrencies, people talk about cryptocurrencies, the media talks about cryptocurrencies.
The virtual currency trading market fluctuates every hour; each investor will find and choose for themselves safe exchanges; reputation to monitor movements and execute trades on it.
Here below are top 10 crypto exchange by volume ranked by coinmarketcap based on traffic, liquidity, trading volumes, and confidence in the legitimacy of trading volumes reported.
There is no question that Binance is the world’s leading exchange. According to coinmarketcap, the exchange’s trading volume reached nearly $36 billion in the past 24 hours.
One thing that’s worth pointing out with Binance is that it lists more coins and offers more trading pairs than pretty much any other exchange out there, including many of the smaller altcoins that are rising very quickly.
450 million monthly users mainly from Turkey, UK, Russia, Brazil, Argentine.
2. Huobi Global
Huobi is one of the “Big Three” exchanges in the world, and it claims to have reached a record amount of 380,000 BTC traded daily on February 25, 2014. The company is accused of faking trading volumes numerous times, but these claims were never proven. They also own a trading platform BitYes, which is focused on international users and offers trading services in BTC/USD and LTC/USD pairs.
Huobi’s trading volume in 24 hours reached nearly 12 billion dollars.
According to Similarweb, monthly traffic on Huobi reaches nearly 7.7 million and users are from China 28%, followed by Ukraine, Vietnam, US, and Turkey.
3. Coinbase Exchange
As the leading mainstream cryptocurrency exchange in the United States, Coinbase has become a standard on-ramp for new crypto investors. Coinbase offers a wide variety of products including cryptocurrency investing, an advanced trading platform, custodial accounts for institutions, a wallet for retail investors, and its own U.S. dollar stable-coin.
Coinbase was founded in 2012 and is a fully regulated and licensed cryptocurrency exchange supporting all U.S. states except Hawaii. Coinbase initially only allowed for Bitcoin trading but quickly began adding cryptocurrencies that fit its decentralized criteria.
Its list expanded to include Ethereum, Litecoin, Bitcoin Cash, XRP, and many others with the promise of more as long as its requirements are met.Source: investopedia.com
Coinbase Exchange is in the top 3 of Conmarketcap by volume, it reached nealry 5 billion dollars in the past 24h.
On the Coinbase platform, you can trade Bitcoin, Bitcoin Cash, Ethereum, and Litecoin without having to first convert from your base currency into another cryptocurrency
Coinbase, however, is an exchange that’s working hard to reduce these security concerns. It’s based in the U.S. and says that it’s never been hacked. It’s also easy to use and has competitive rates.
Coinbase has about 93 million monthly users mainly from US, UK, Spain, Germany, France
Who Is Kraken?
Kraken is a cryptocurrency exchange. It was founded in July 2011 and is based in San Francisco, CA. It is one of the largest and oldest exchanges. Its founder is Jesse Powell. The company has raised $118 million in seed funding.
What Do They Offer?
Kraken allows you to exchange fiat currencies such as USD, Canadian Dollar, Euro, and GBP into cryptocurrency. You can also exchange from one cryptocurrency into another. There are over 50 cryptocurrencies available on Kraken for buying via fiat currency or exchanging.
The Kraken platform just added support for two more cryptocurrencies: Ocean Protocol (OCEAN) and Energy Web Token (EWT). Both currencies can be deposited and traded as of March 3, 2021. However, it should be noted that U.S. and Canadian residents are currently unable to trade EWT.Source: thecollegeinvestor.com
This cryptocurrency exchange is a good fit for experienced investors who can use its advance features like Margin Tool, stop orders, and crypto short sales.
Kraken provides a variety of additional services for institutions, businesses, and high-net-worth individuals. These include account management, one-on-one consultations services, OTC trading, and expert market insights.
Kraken has 22 million monthly users mainly from US, Germany, France, UK, Netherland
BitFinex offers three main functions – it is a pure bitcoin to fiat exchange, a margin trading exchange and a liquidity provider. The platform offers a number of features available that expand the financial positions you can take – for example, the ability to short Bitcoin via margin trading.
The exchange also offers a set of other cryptos apart from bitcoin such as Litecoin and Ethereum.
Deposits and withdrawals take place via the standard bank transfer mean with fees of 0.1% and a minimum of $20. Bitcoin and Litecoin are free.
BitFinex takes security seriously and has moved from a hot wallet cold wallet set up to segregating customer funds where each user has access to their own wallet which they can review on the blockchain.
Bitfinex was hacked on the 3rd of August 2016 and around 120,000 BTC were stolen.Source: cryptocompare.com
This platform is not suitable for beginners, if you are an advanced trader that likes to use top-grade charting analysis tools with significant volumes of liquidity, then Bitfinex might suffice.
However, it is frustrating that you can only deposit fiat money via a bank transfer. debit/credit cards and e-wallets aren’t accepted, and the fact that the exchange was hacked in 2015 and 2016.
Bitfinex has 6,3 million users monthly, mainly from Germany, Taiwan, Russie, Ucraine, Brasil
This crypto exchange is a relatively young in the industry experiencing significant growth. It is serving about 12 million users currently, they are mainly from US, UK, Ucraine, Turkey, Netherland.
In terms of trading fees, KuCoin is one of the lowest fee exchanges. It supports 22 different fiat currencies for buying coins.
Cryptocurrency exchange or digital asset exchange Gate.io was founded in the latter part of 2017. Gate.io seems to be US-based with a registered address in Virginia. A Gate.io exchange review shows that their trading platform or website seems to be available in different versions or languages, including Chinese, English, Japanese and Korean.
It is also revealed by a Gate.io exchange review that this unlicensed exchange forms part of Gate Technology Incorporated. However, while KYC verification is not obligatory, it seems that users who wish to withdraw more than $1000 in USD are frequently asked to confirm their personal data. This is positive in terms of self-regulation that is needed, especially at centralized crypto exchanges.
Gate.io serves the crypto community via no less than 367 markets, including USDT, CNYX, BTC, ETH and time-limited markets. This while more than 100 cryptocurrencies and cryptocurrency pairs are available for trading. A Gate.io exchange review also reveals that this digital asset exchange offers instant deposits and withdrawals of cryptos, no deposit fee and low trading and withdrawal fees). This while in terms of security, they make use of a secured SSL link and technology that enables secure, offline Bitcoin wallets.
Gate.io boasts impressive trading volumes and seems to be one of the top exchange choices for traders from China and have risen in popularity in the United States. Its users monthly are nearly 9,7 million, mainly from US, China, Turkey, Russia, Ucraine.
This platform support over 400 trading pairs and Margin trading is possible throughout.
According to “South Korean Exchange Market Review,” a report published by Blockchain Transparency Institute (BTI) on August 20th, Bithumb was ranked the first in Korea this year in terms of crypto trading volume.
This report indicates that, among cryptocurrency exchanges in Korea, Bithumb, UPbit, and Coinone are included in the BTI global top 10, and Bithumb ranks third in the world and first in Korea based on the daily trading volume. It also shows that more than 90% of the trading through the three large crypto exchanges is being made transparently.
BTI evaluated that Korea’s cryptocurrency market is transparent across the board. It also mentioned that korbit and GOPAX are transparent although the daily average trading volume is relatively smaller at USD 20 million or less.
BTI detects abnormal trading and cross trading using the BTI Verified Service, a trading volume analysis program. Cryptocurrency exchanges across the world including Bithumb and BitForex are using this service that monitors their reliability.Source: businesswire
Bithumb is one of the oldest exchanges with very low fees, large trading volume, good security control and liquidity.
Bithumb has more than 13 million monthly users , mainly from South Korea, US, Vietnam, Japan, China..
Launched in September 2019 in San Francisco as the American arm of Binance — the world’s largest cryptocurrency exchange by trading volume — Binance.US itself is now among the 10 largest exchanges by trading volume, according to CoinMarketCap, a market research website.
While it doesn’t offer as many cryptocurrencies and crypto-to-crypto trading pairs as its parent company, the 50-plus selection at Binance.US still outpaces many other U.S. cryptocurrency exchanges. And its 0.1% trading fee is lower than many other U.S. exchanges.
Binance is known for its high-speed trade execution. Before company founder Changpeng Zhao started Binance in China in 2017, he developed a software system for matching orders for high-speed traders. Binance has courted controversy with regulators, moving operations from China to Japan; at a May 2020 tech conference, Zhao claimed the parent company doesn’t have a headquarters because “Bitcoin doesn’t have an office.”Source: nerdwallet
Binance is well-known to pay attention to user security and to be continually innovating. Binance US has offered a high liquidity to its customers, low fee and good customer services.
Ever since it opened its doors in 2011, Bitstamp has provided a reliable gateway into the crypto universe for individuals and institutions worldwide.
It is Europe’s biggest exchange by trading volume and offers trading of BTC, ETH, LTC, BCH and XRP paired with USD, EUR, and BTC. Beginners can purchase crypto with credit cards, while experienced traders can use a range of order types and analytical tools.
The exchange is a pioneer in crypto security and regulation, having developed a number of best practices for the industry, like cold storage of assets, multisig wallets and segwit implementation. With a mature approach to the industry, Bitstamp serves as the bridge between traditional finance and crypto.Source: cryptocompare
Although Bitstamp is one of the most popular cryptocurrency exchanges in the industry, it is difficult to endorse them as the go-to-platform for buying and selling coins. On the one hand, the platform is super easy to use, and they do allow you to deposit funds with a debit or credit card. However, only certain countries have the option of using a payment card to deposit funds, and their respective fees are really expensive.
Closely linked to liquidity, trading volume is the term used to describe the number of coins bought and sold over a certain time period. In general, the cryptocurrency trading volume is tracked over a 24-hour period. When you’re assessing the trading volume of a particular exchange, it’s important to note that volume may be a total figure or an individual figure.
Naturally, the more trading volume an exchange has, the more chances you’ll have to buy/sell at the best price. The activity makes it possible to complete orders in less time; therefore, you’ll get the price you expect when the volume is high.
if you can find a high-volume cryptocurrency exchange, you stand a better chance of executing orders at the price you want. What’s more, because there’s a greater level of activity, you can be confident the prices are the best they’re going to be. Finally, from a stability standpoint, crypto exchanges with a lot of trading volume are going to be making more money which, in turn, means they’re less likely to go bust and leave you without a place to trade.
With Top 10 Crypto exchange above, i hope you can find your best for your investment in crypto trade market.