Top Crypto Exchanges to Use in 2020

Get Into Cryptocurrency Trading Today

The influx of crypto in recent times has seen a resurgence in exchanges. Most are looking to take advantage of the surging demand. Choosing the ideal one from the several might take some time. 

This article does all the work for you. It researches the best crypto exchanges. It determines the ideal client, pros, and cons. Follow through to find the best exchange for your needs; 

Coinbase – best overall 

Coinbase is the most popular cryptocurrency exchange. As one of the earliest exchanges, it has built a reputation for reliable services. The exchange has been operational since 2012. It comes with top-tier regulations and licensing. 

Coinbase does not take chances when it comes to security. It offers custodial wallets to the traders. These accounts are insured in case of any mishap. However, the cover wouldn’t apply for issues arising from the account owner’s fault. 

The exchange takes pride in offering some of the most reliable trading services. It has yet to encounter any case of bad press. It provides a variety of coin choices for a wide range of investment options. The platform is also easy to use. It comes with a simple user interface for beginner traders.

All these benefits mean the exchange attracts most traders. The more the traders, the higher the liquidity. The exchange understands the difference in traders. It provides Coinbase for beginners and Coinbase Pro for the experienced. 

Coinbase pro comes with cheaper rates and additional charts and indicators

Even though the exchange is quite useful, it has a few faults. The users on the Coinbase tend to pay higher than those using Coinbase Pro. The exchange also retains the wallet keys control and not the owner. It also has a lesser variety of altcoins. 

Binance – best for altcoins

Launched in July 2017, Binance has established itself as a super crypto exchange. The Hong-Kong based crypto exchange focuses on altcoin trading. It has enjoyed periods of sustained success due to the wide variety of assets. 

Binance is so big on crypto more than it is on the fiat. The lack of fiat allows it to operate without too much red tape from regulators. It also provides the user with various interfaces depending on preference. The classic and advanced interfaces are ideal for experienced traders. It gives the basic option for beginners.

One of its selling points is the lower fees compared to other exchanges. It provides for a flat rate of 0.1% on both the take and maker side. 

A higher trade volume sees the costs reduce to 0.02% for both parties. 

Binance is open to partnering with other entities for elite services. It currently allows users to buy different cryptos using credit cards through Simplex, even though it comes with a transaction fee of 3.5%. The exchange has also been integrated with the Brave browser. The integration allows for the convenience of in-browser trading. 

The other unique feature on the exchange is the Binance Futures. It allows traders to speculate on different cryptos. 

The Binance Futures comes with leverages of up to 125x. A trader can win or lose by up to 125x. Tether is the only currency it supports. 

The success of Binance is evident in how much it has grown. It has recently launched Binance USA. This allows it to offer US residents services based on US regulations. 

Kraken – best for low fees

Started in 2011, Kraken is one of the oldest operational exchanges. Through all those years, it has kept high standards of services. The exchange has made a name as one of the most secure platforms. It has not suffered any hacks. 

While Kraken is such a valuable exchange, it has some challenges. One of the concerns with the exchange is technical issues. The exchange tends to experience downtimes during massive market volatility. There have also been concerns about account deactivations.

Still, the exchange has been improving. It has focused on the concerns and looks to deliver the very best. The exchange also has a wide range of fiat currencies. It supports Euro, USD, Pound, Yen, and others. On the platform are around 17 major cryptocurrencies. While they might seem less, they combine to form several trade pairs.  

The exchange stands out on the exchange fees. It provides for some of the lowest in the industry. It supports free deposits and competitive withdrawal rates. 

Trading in the platform is seamless. It provides an easy to use interface for traders at any level. It also supports trade on the go using mobile apps and web platforms. 

eToro – best for social trading 

eToro is another exchange that has been operational for a long time. The coin has built a name as one of the best trading sites. It is one of the pioneers of social trading. It provides a platform where traders get to learn from each other. A beginner can watch and copy the trading moves of the established ones. The move increases the speed of learning. It also reduces losses risks. 

The platform provides over 15 cryptos tradable 24/7. It also has an easy-to-use website and a mobile app. Security-wise, the platform is top-notch. The reputable CySEC regulates it. The high regulation has seen it expand to several countries. Even US residents have access to the platform. 

The only concern that comes with the coin is the high minimums. It provides for a minimum of $25 to buy any cryptocurrency. Even social trading requires high balances of $200 for every trade.

Coinmama – USD

Coinmama is for those who are looking to use credit/debit cards. It also supports SEPA or SWIFT transfer. It provides for the instant delivery of the assets—the transactions completed within 30 minutes. 

A platform is an ideal option for beginners. It comes with an easy to use interface. The experienced traders can still benefit from fast transactions. 

The only concern with the platform is the high brokerage fees. The brokerage fee is 5.9%. The user will also incur an additional 5% fee on card processing.  

Bottom Line 

Choosing a trading exchange is an involving task. You have to consider security, coins supported, and limits. The reputation of the platform also counts. Different traders have varying needs. That is why there are various platforms. This list allows the user to choose the platform based on the needs. 

Buy & Sell Cryptocurrency Instantly