You will find tons of crypto exchange reviews on the internet, but choosing the best one among them is a rather confusing process. Not to mention that it can get more complicated if you are completely new to the crypto industry.
So why not choose a platform that is already being used by millions of users around the world. Therefore, you can be assured about the quality of the platform and the services you can enjoy with it. We have collected the top 10 centralized crypto exchanges which are currently popular in the market. Hence, you can choose the one you like the most easily.
1. Binance
The big bull in the crypto industry, Binance is among the world's leading cryptocurrency trading platforms that you can find at the moment. Entering the market way back in 2017, it has been in the industry for around 5 years that is not a very long time in comparison to other platforms. Still, Binance is the way to go choice for the majority of newcomers due to its features and low trading fees.
Pros
- Excellent liquidity
- Supports a wide range of tokens
- Suitable for basic and advanced trading
- Very low transaction fees even on smaller amounts
- Offers a highly secure wallet for storing your assets
Cons
- Not that transparent enough
- U.S residents are restricted from using the platform
- Account verification can take longer
2. Gate.io
Moved to U.S Virginia recently, Gate.io is a crypto trading platform that has been in the market since 2013. Providing its multilingual services in almost every country, while keeping the service quality top-notch. Giving a fairly tough competition to other companies for a long time with its outstanding features, Gate.io exchange is worth choosing for sure.
Pros
- Offers mobile application
- Robust security measures
- Professional trading options for everyone
- Supports many cryptocurrencies
Cons
- Customer support is rather slow
- The user interface is a bit complicated for beginners
3. CEX.IO
Making money with crypto is getting easier as a platform like CEX.IO is providing staking and earning opportunities. Being one of the fundamental platforms in the industry, CEX.IO provides some quality features like trading view integration, that are not easily available on other platforms. Even though we suggest you should check the availability of exchange in your country before.
Pros
- Significant trading volume
- No limit on withdrawals
- Multiple payment options
- Sturdy environment
Cons
- Transaction fees are very high
- Not many currencies are available for choosing
- Professional trading options are not present
4. OKEx
If you are more into traditional exchanges then OKEx is the perfect choice for you. Recently moving to hong kong after its ban in China, OKEx is not backing down on providing quality services to its users. In addition, you will even get a $22 joining bonus if you are a new user. Choosing the OKEx platform won't disappoint you as to whether in terms of security, availability, earning opportunities, or transaction fees.
Pros
- Affordable fee structure
- provides different payment methods
- A variety of Crypto coins are present
- No deposit fees
Cons
- Doesn't offer a demo account
- Withdrawing is costly due to high fees
- Not for U.S citizens
5. Kucoin
One of the crypto exchanges getting more attention in the industry lately. Kucoin is a rather new platform if you compare it with others. Despite the fact that it is still growing and not regulated in the U.S, Kucoin provides a seamless trading experience to its users. Supporting the transactions by its native token Kucoin.
Pros
- Quite a user-friendly interface
- Doesn't force you to complete KYC
- Yielding your assets is possible
- 24/7 Customer support
Cons
- Doesn't allow bank deposits
- No fiat trading pairs supported
6. MXC
The MXC global is one of the new platforms that run on a high-performance mega transaction matching technology. Completing around 1.4 Million transactions per second, MXC is currently providing its services in 200+ countries. You can enjoy a wide range of services with MXC that are proof of stake pool, Defi mining, one-click staking, extended payment methods, and much more. The platform is new but you can choose it easily if you look at the bright side.
Pros
- Compatible with many cryptocurrencies
- Industry-level security features
- Affordable fee structure
- Splendid trading experience
Cons
- Not compatible with fiat
- The margin trading feature is missing
- User ratings may lead you to think again
7. Hotbit.io
Hotbit falls under the category of recently launched crypto exchanges in the market. Surprisingly it was able to gather a strong user base in such a short time. With over $100 million in daily trading volume, Hotbit utilizes an AI system in order to maintain the best possible liquidity. While providing an industry-level secure environment to its customers, you can go with Hotbit without any hesitation.
Pros
- The platform is available globally
- Supports tons of trading pairs with different currencies
- A higher ROI (return on investment)
Cons
- Not many deposit and withdrawal options were provided
- liquidity is a major concern in many tokens
- Fess are comparatively higher
8. Ascendex
Entering the crypto market approx three years ago, Ascendex is a crypto trading platform that is growing rapidly. Not to mention the features it provides are good enough to compete with top-class exchanges in the market. Defi farming, affordable fee structure, and dedicated API to keep the services running without any issues. However, if you are trading within the U.S then this platform is not made for you.
Pros
- Crisp trading view terminal experience
- Rewards system for passionate traders
- Supports leverage on margin and future trading
- Over 105 different crypto assets supported
Cons
- Not available in the U.S yet
- Does not support direct fiat payments
- You can not enjoy a Demo account
9. FTX
Now talking about FTX it is in the same group as recently started exchanges. Backed up by a well-known liquidity provider Alameda, FTX supports a variety of professional trading options. Whether you want spot trading, futures trading, or anything else you will find almost everything on FTX. The good thing is that you do not have to complete the KYC process to start using the platform.
Pros
- Guaranteed liquidity
- Lower trading fees on services & products
- One of the leading platforms for crypto derivatives
- KYC process is rather easy and useful for increasing the limits
Cons
- Comparatively new in the crypto industry
- Taking higher risks on investments can lead you to loss
10. Bybit
Mainly focused on providing crypto derivative services, Bybit is operating as a crypto exchange from Singapore. Not to mention the platform was founded back in 2018, Bybit has made a lot of progress till now. Providing industry-standard services along with security, it stores your assets in cold wallets which are located offline. Another feature worth considering is you can increase your knowledge of crypto by utilizing the educational resources on the platform.
Pros
- High-security environment
- Enhanced customer support
- A demo account is present
- Anonymous trading available
- Not risky regarding liquidations & price manipulations
Cons
- Not regulated in the right manner
- Leverages are rather low on most pairs
- U.S citizens are not allowed to use the platform
Final words
When it comes to choosing a crypto trading platform, your personal requirements play an important role. Because there are certain factors that can create problems in the future regarding your trading experience.
Hence, take a good look at the pros and cons of a crypto exchange before using it. You can go with any of the platforms mentioned in the list, according to your preference. Do share this information with others and make sure to mention your suggestion and queries in the comments section.
