If you’re interested in starting your crypto trading journey, you must have a secure, fast, and reliable cryptocurrency exchange to facilitate all crypto transactions. A quick search online will show you a long list of crypto exchanges, which is guaranteed to overwhelm many people. If you want to select that “one” platform from the top cryptocurrency exchanges that will always stand the test of time, we’ve got your back.
Best Cryptocurrency Exchanges
To save much of your research time, we’ve listed down the top five cryptocurrency exchanges that you can consider to start your crypto trading journey. Go through each exchange, and pick the one that fulfills your requirements.
1. Binance
Starting in 2017, Binance is a well-known name in the global exchange space. Though you can buy and sell multiple cryptocurrencies on this platform, it was started with a prime focus on altcoin trading. Binance only accepts deposits in U.S. dollars, so people outside the United States have to make deposits via SWIFT, debit, and credit cards. You can find over 100 trading pairs between different cryptocurrencies on this exchange, in addition to various fiat-cryptocurrency pairs.
What makes Binance bag a place in our top five cryptocurrency exchanges list is its advanced charting abilities, reasonable fees, and secure trading environment. But if you’re a beginner, you may face difficulty using this exchange as most of the features have been created to cater to trading professionals.
Pros of Binance
- Supports various cryptocurrencies
- Reasonable fees
- Advanced charting
- Secure trading environment
Cons of Binance
- Not ideal for beginners
- Fewer trading pairs in Binance US compared to its international platform
- Higher withdrawal fee
2. CoinSwitch
CoinSwitch is a popular crypto exchange headquartered in India. The platform went live in 2017 and managed to build a loyal user base of over 11 million people. Unlike other cryptocurrency exchanges like Binance, CoinSwitch connects users with various exchanges to provide them with the best trading rate. What makes CoinSwitch India’s most trusted and reliable crypto exchange is its secure trading environment, multiple payment options, and vast list of supported cryptocurrencies.
Irrespective of the digital currency you’re willing to purchase or sell, you are sure to find it on CoinSwitch. With over 100 supported coins and tokens, users can trade bitcoin, ethereum, Matic, and many other cryptocurrencies on this platform. You can also convert your purchased dogecoin to INR and transfer the funds to your bank account on CoinSwitch.
Pros of Coinswitch
- Zero brokerage
- No lock-in period
- Perfect for both beginner and expert traders
- Fast KYC approval
- Minimal initial deposit
- Best rates
- Payment via UPI, NEFT, & IMPS bank deposits are supported
Cons of Coinswitch
- Only supports one fiat currency, i.e., INR
3. Coinbase
Headquartered in San Francisco, Coinbase is a good exchange for beginners and experts alike. What makes Coinbase grab a place in our list is its robust security features. While news of hackers breaching security in many exchanges is becoming common, Coinbase was never in the news for such reasons. Another feather in its cap is its transparent pricing structure.
If your trade volume is going to be huge, we suggest you opt for Coinbase Pro. It has a different yet cheaper fee structure, making it economically feasible for traders with high transaction volumes. The charts, indicators, and other features offered by Coinbase are pretty impressive.
Pros of Coinbase
- Intuitive interface
- Excellent user reviews
- Beginner-friendly
- Very high liquidity
Cons of Coinbase
- High fees
4. Bisq
Another good exchange platform is Bisq. It is free downloadable software that facilitates the trading of various fiat currencies, including bitcoin, USD, and several other cryptocurrencies. It is ideal for those people who want to trade in cryptocurrency but don’t have any government-approved ID to create an account. Bisq is probably one of the fewest exchange platforms where a person can create his/her account without any KYC verification process.
As it’s a decentralized exchange, you can expect slow transaction processing in terms of speed and volume. While Bisq is not great for active cryptocurrency traders, it is excellent for people who don’t have access to bank accounts, government-issued IDs and prefer to retain their privacy over anything else.
Pros of Bisq
- No KYC needed to get started
- Multiple payment modes
Cons of Bisq
- Slow transaction processing
- Not ideal for active or professional traders
5. Coinmama
An Israeli-based crypto exchange, Coinmama provides a simple, safe, and hassle-free environment to trade various cryptocurrencies. Though you need to pass the KYC verification to begin trading, Coinmama is known for its blazing-fast authentication process. What made Coinmama a favorite of many crypto traders is its round-the-clock customer support, faster & safer transactions, and the option to purchase cryptocurrency using debit/credit cards.
Pros of Coinmama
- Secure transactions
- Excellent customer support
- Multiple language support
- Payment accepted via debit/credit cards
Cons of Coinmama
- No mobile app
Those willing to get started with their cryptocurrency trading journey should take time while finalizing a crypto exchange, as a lot depends on it. You can review the exchanges discussed above and proceed with the one you feel is the best.
