Top 10 Best Cryptocurrency Exchanges in 2021

The whole cryptocurrency phenomenon is taking the world by storm. However, it’s relatively easy to get lost in all the investment opportunities as a beginner if you are not careful. Especially for newbies, the world of cryptocurrency can appear very complicated. Not only are there thousands of concepts and details that you need to learn but also to memorize.

That said, if you are thinking about stepping into crypto trading in 2021, there are certain crucial things you need to know. Before buying crypto for the first time, you need to ensure you choose a crypto exchange that’s safe, fast, has high liquidity, and low fees.

With that in mind, in this article, we will discuss the top 10 best cryptocurrency exchanges in 2021.

Best crypto exchange in 2021 summary:

  1. Binance: Worlds largest crypto exchange with the best trading options, lowest fees and financial features.
  2. Bitvavo (Europe Only): Cheapest way for Europeans to transfer euros into crypto and do payouts.
  3. KuCoin: The biggest competitor of Binance with almost the same features.
  4. ByBit: The biggest crypto derivatives exchange to trade perpetual contracts.
  5. Phemex: One of the newest upcoming derivatives exchange to trade Futures, but also spot trading.
  6. Deribit: The biggest Bitcoin options exchange worldwide.
  7. Huobi: One of the oldest exchanges since 2013.
  8. BitMEX: The first Bitcoin leverage trading platform.
  9. Kraken: One of the oldest exchanges worldwide.
  10. Coinbase Pro: Big brand awareness.

1. Binance

Hands down, Binance is the largest cryptocurrency exchange in the world, currently dominating the industry. Binance was founded in China by Changpeng Zhao, although later, the headquarters and servers were moved into other parts of the world due to the crypto ban in China.

Today, Binance offers a wide range of different services, like a spot exchange, Futures exchange, online staking platform and many more other finance features.

Although a few people have doubted the security systems of Binance, the legitimacy of this crypto exchange is undisputable. Binance also offers low fees of up to 0.1%, but if you hold the Binance native token BNB, these fees will be discounted. We can get you a higher discount (check it out below).

Binance Exchange

Key Features

  • High trading volumes and high transaction speeds
  • Wide range of financial services
  • Compatible with iOS, Android, Web, and Pc Client
  • It comes with both a basic and advanced trading interface
  • Offers a wide range of tools for online trading

Pros

  • Lowest fees in the industry, charging 0.1% for every trade
  • 20% extra discount with our code
  • Top-notch security including insurance fund
  • Fiat to crypto now possible with third party integrations

Cons

  • Customer support team can take a while

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2. Bitvavo (Europe Only)

Bitvavo is an European trading platform launched in the Netherlands. Currently, on the Bitvavo cryptocurrency exchange, you can trade over 60 cryptocurrencies. The best thing about this exchange is that it’s suitable for both beginners and experienced traders.

This platform is the perfect crypto exchange for European citizens, since you can exchange your euro’s for crypto at very low costs.

The platform offers a straightforward system for buying and selling. Hence, it’s relatively easy to find any useful information on the website and navigate. What’s more, Bitvavo has an user-friendly website that generally gives it a very professional look.

Bitvavo Exchange

Key Features

  • Maximum trading fees of 0.25%
  • Exchange euro to crypto for free
  • 50+ cryptocurrencies to choose from
  • Automated crypto trading via API

Pros

  • High-security level
  • Up to 10.5% interest on your crypto
  • Intuitive trading interface for both beginners and experienced traders
  • The platform is an exchange and broker all in one
  • Has free built-in wallets for supported cryptos

Cons

  • No available customer support via phone
  • Not available in Europe

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3. KuCoin

KuCoin is one of the newest cryptocurrency exchanges in the market today. The platform was created back in 2017 by a group of specialists who previously worked on projects such as iBox Pay and Ant Financial.

The founders of KuCoin successfully created a safe and straightforward platform that suits all people and hold a wide range of digital coins.

KuCoin also has its native token, KuCoin Shares, and by using the KCS coins, you get discounted trading fees.

Key Features

  • 300+ available trading pairs
  • Simple to use interface that’s perfect for beginners
  • Top-notch security protocols
  • Anonymous trading, no need for verification

Pros

  • Relatively low trading fees, deposit and withdrawal fees
  • Easy to use interface for beginners
  • A wide range of newly released cryptocurrencies
  • Secure trading

Cons

  • Difficulties during periods when there’s a high traffic
  • Low trading volume causing liquidity problems in smaller the smaller coins
  • Was hacked in 2020.

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4. ByBit

ByBit is a crypto derivatives exchange based on British Virgin Island that was launched in 2018. This cryptocurrency exchange focuses on fulfilling the needs of the more experienced traders.

ByBit stands out from other exchanges as they provide an efficient, trustworthy, and transparent trading platform. The best part is that, with ByBit, you can leverage a margin of up to 100x while at the same time offering insurance funds to cover losses and secure the trades.

Keep in mind that is a really risky way to trade crypto.

ByBit Exchange

Key Features

  • High-level security features that protect users from hack attacks
  • Fiat to crypto is possible with third party integrations
  • Bybit offers its clients exciting bonuses
  • 100x leverage that allows traders to make maximum profit from each trade

Pros

  • Relatively low fees where takers are charged 0.075% and makers get a discount of 0.025%
  • ByBit has an incredible API with market data pushed every 20ms
  • Smaller contract sizes as compared to other exchanges
  • It offers futures contracts on Ripple and EOS
  • ByBit is integrated into some of the best trading bot services

Cons

  • There is a higher risk with derivatives trading; therefore, it is only best suitable for experienced traders
  • The platform is still very comparatively new

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5. Phemex

Phemex is a Singapore based cryptocurrency exchange that was first launched in 2019. Phemex is more focused on derivatives and spot trading. The founders had the goal to make the crypto world just as reliable as the traditional finance front.

And the fact that Phemex offers 100X leverage gives the exchange an advantage over the other platforms. The platform is merely introducing something new to the crypto space while still maintaining the simplistic look.

Key Features

  • Phemex offers USDT pairs based on USD and Tether
  • Innovative zero fee spot trading
  • Multiple order types
  • Premium membership that offers zero trading fees and faster withdrawals

Pros

  • Relatively lower trading fees set at 0.075% for takers, and a discount of 0.025 for makers
  • High liquidity that guarantees faster processing of transactions
  • App compatibility with iOS and Android
  • Phemex offers a wide range of tools that help to manage risk

Cons

  • There is a higher risk with derivatives trading; therefore, it is only best suitable for experienced traders

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6. Deribit

Deribit is one of the best cryptocurrency exchanges in the market, founded in 2016 by John Jasen. The platform was based in the Netherlands, but moved to Panama due to regulations. It mainly focuses on the options and futures markets.

The one thing that stands out most about Deribit is that it offers perpetual swap contracts. That means, unlike the traditional futures contracts, the perpetual swap contracts won’t expire.

Key Features

  • Insurance fund protection
  • High leverage
  • Competitive trading fees
  • BTC futures with up to 100x leverage

Pros

  • Low trading fees set up at 0.05% for takers and zero payments for makers
  • High security of the coins with cold storage
  • User-friendly interface
  • Transparent support team
  • A trustworthy and safe platform

Cons

  • There is a higher risk with derivatives trading; therefore, it is only best suitable for experienced traders
  • The platform doesn’t support fiat currencies
  • The platform is not beginner-friendly

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7. Huobi

Huobi is an Asian digital asset exchange whose headquarters are based in Singapore. The crypto exchange has been serving clients in over 130 countries since 2013. And with proficient and experienced leaders like Leon Li, former Oracle engineer, Huobi can replace the fiat currencies with secure digital assets.

If you are looking for small cap coins, there is a good chance that they are available on Huobi.

Key Features

  • The platform supports margin trading and C2C lending
  • User protection funds that help ensure the traders against theft and hack attacks
  • High market liquidity
  • Institutional trading with the institutional accounts
  • A wide variety of trading pairs

Pros

  • Low trading fees set at 0.2% and lower
  • Trading discounts when trading with the Huobi tokens
  • On-the-spot customer support around the clock
  • Premium security systems

Cons

  • Some aspects of the exchange can be very confusing for a beginner
  • Huobi is not available to traders in the US

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8. BitMEX

BitMEX was founded in 2014 by HDR Global Trading Ltd. BitMEX is one of the leading derivatives trading platforms for cryptocurrency contracts. However, some changes have been made in 2020, as the SEC disagreed with the no-KYC policy. This has caused a lot of customers to switch to competing platforms such as Binance Futures and ByBit.

BitMEX is a peer-to-peer exchange platform that offers leveraged contracts to its clients.

As much as BitMEX offers altcoins, it only uses Bitcoins for deposits and withdrawals. With its Future contracts, you can predict the price of a particular cryptocurrency within a specified time. Once the prediction goes your way, you will be compensated for that. On the other hand, you can also lose money.

Key Features

  • The platform offers Leveraged contracts on several platforms
  • BitMEX features the latest security system protocols
  • The website is available worldwide except for the USA.
  • 24/7 customer support service
  • BitMEX has a test interface where you can hone your skills.

Pros

  • BitMEX is one of the safest platforms in the cryptocurrency world.
  • With the Future contract, you can maximize your profits with slight price movements
  • The platform has responsive customer service with multiple communication channels.

Cons

  • There is a higher risk with derivatives trading; therefore, it is only best suitable for experienced traders
  • BitMEX doesn’t have a mobile application
  • It only offers deposits and withdrawals through Bitcoins
  • Under investigation by the SEC

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9. Kraken

Kraken is one of the most popular cryptocurrency exchanges that you will find in 2021. The site was founded back in 2011, and it’s been on the rise ever since. With a robust security system,

Kraken is considered a safe space to store your cryptos. Another significant advantage of using Kraken is that it has low fees. Signing up on Kraken is a straightforward process.

Key Features

  • Kraken allows fiat-to-crypto exchanges with high liquidity
  • The platform has the best security systems in the market
  • Aside from crypto, you can also trade on Forex
  • 24/7 customer support service
  • The company offers Future trading

Pros

  • Kraken offers low fees
  • The company offers Forex market aside from cryptocurrency trading
  • Kraken has a robust security system
  • It has an easy-to-use interface
  • You can also change your fiat currencies to crypto on Kraken

Cons

  • The company doesn’t offer credit/debit card deposits

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10. Coinbase Pro

If you are a professional trader, then Coinbase Pro is one of the best places to continue your trading journey. That’s because the interface is designed for experienced traders.

More importantly, the platform has high security, so your funds will be safe. Aside from safety, the trading interface is quite intuitive with lower fees.

Key Features

  • The UI has an appealing dark theme
  • Coinbase Pro is backed up with Coinbase, and you can have a smooth transition between the two
  • The platform offers leveraged trading of up to 3X

Pros

  • Coinbase Pro is easy to understand and use
  • The platform offers the best-advanced trading tools.
  • It has one of the best security systems in the world
  • High brand awareness

Cons

  • It’s not ideal for beginners
  • Relatively high fees

Conclusion of the best exchanges in 2021

The summarize this overview of the best exchanges in 2021, I think we can categorize it in 4 different categories:

  • Best allround exchange: Binance
  • Best European fiat to crypto exchange: Bitvavo
  • Best derivatives exchange: ByBit
  • Best Options exchange: Deribit

Based on your requirements you can choose the exchange that suits you the best.