Best Crypto Exchanges and Platforms in December 2025

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Eric Huffman

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Last updated: 

November 24, 2025

According to our research, OKX is the best crypto exchange in December 2025, thanks to its deep liquidity and high volume, vast coin support, excellent reputation, and robust security measures. Next up are Binance – the largest crypto exchange and one of the most well-established – and MEXC, which offers low fees and access to over 3,000 tradeable markets.

The top crypto exchanges are your gateway to the cryptocurrency market. However, not all crypto platforms are worth your attention. To help you make an informed decision, our staff of researchers tested and assessed over 100 providers based on key factors, such as fees, coin selection, security features, trading products, and ease of use.

In the end, only 18 crypto exchanges made it to our list. The following guide will give you in-depth information on our top contenders, plus numerous excellent alternatives for various use cases. Read on to find the best crypto trading platform for your needs.

What Is a Crypto Exchange?

Crypto exchanges are online platforms where you can buy, sell, and trade cryptocurrencies like Bitcoin and Ethereum. Essentially, they’re digital marketplaces that allow you to exchange one cryptocurrency for another or for fiat currency, like US dollars or euros.

However, the best providers go a step further. Besides exchange services, they usually offer additional products like derivatives trading, trading bots, advanced charting features, and portfolio management tools. Below, you find 18 excellent platforms that offer everything you need to trade and invest in crypto:

The Best Crypto Exchanges and Apps for 2025 Shortlisted

Popular Exchange with $120 USDT Sign Up Bonus

9.8/10

Review

• Trade spot, futures, and options
• Available in the United States
• Native non-custodial Web3 wallet

Visit Now

Crypto Exchange with Highest Liquidity

9.5/10

• Largest crypto exchange in the world with 1,500+ trading pairs
• Trading fees starting as low as 0.1%
• Gain exclusive access to new coins with Binance Launchpad

Visit Now

Best For Low Trading Fees at 0%

9.3/10

Review

• Only exchange with 0% fees for spot trading
• Lowest withdrawal fees out of any exchange
• Deepest liquidity in the crypto market

Visit Now

Crypto Exchange with Futures Trading and Exclusive Bonuses

9.2/10

WEEX Review

• Trade and upgrade to claim up to 500 USDT
• Buy and hold WXT to unlock perks and airdrops
• Trade cryptos and futures with deep liquidity & access copy trading

Visit Now

FEATURED

Best In-Wallet Crypto Exchange

9.8/10

Best Wallet Review

• Anonymous in-wallet crypto exchange with no KYC requirements
• Trade thousands of coins across 60+ blockchains with low fees
• Beginner-friendly interface with numerous payment options

Visit Now

Best Crypto Exchanges and Trading Platforms Reviewed

To select the best crypto exchanges and trading platforms in 2025, we rated them on a scale from 0 to 10, following our rigorous methodology, based on their number of tradable coins and pairs, trading fees, trading tools, user experience, security, and reputation:

1. OKX — Overall Best Crypto Exchange in 2025

OKX is a leading crypto exchange renowned for its low fees, extensive selection of over 340 cryptocurrencies, deep liquidity, and low spot and futures trading fees. The platform strives to comply with regulations and is available in 160+ countries, including the United States. It’s also a feature-rich exchange, offering spot, derivatives, and options trading, as well as staking, a self-custodial Web3 wallet, and frequent events and promotions.

If you’re an advanced trader, you can take advantage of up to 125x leverage for futures trading, while beginners can get a generously funded demo account to sharpen their skills or use the copy trading feature. OKX also makes it easy to buy crypto with fiat, as it supports 90 major currencies and convenient payment methods, such as debit/credit cards, bank transfers, and e-wallets.

OKX is also reliable on the security front, with features like cold storage for user funds, proof of reserves, two-factor authentication, and more. The platform has never faced significant hacks or data breaches, placing it among the most trustworthy crypto exchanges in the industry.

2. Binance — Top Crypto Exchange for Asset Security

Binance is the world’s largest cryptocurrency exchange and has an excellent reputation for providing tight security for user accounts and funds. It also supports over 460 coins, offers up to 125x leverage for futures, and boasts the highest volume and liquidity in the industry.

Binance offers various ways of securing your trading account, including setting up passkeys, an anti-phishing code, and two-factor authentication. In addition, it has established a Secure Asset Fund for Users (SAFU) to protect user assets from hacks and theft, and it has proof of reserves that shows the exchange’s on-chain holdings, guaranteeing that it has sufficient funds to cover withdrawals.

Binance’s low fees, global accessibility, and abundance of features appeal to experienced and beginner investors alike. However, despite its prominence, the exchange faces regulatory challenges, particularly in the US, where it’s under investigation.

3. MEXC — Best Centralized Crypto Exchange for Spot Trading

With its 0% spot trading fees, MEXC merges user-friendliness with unbeatable cost-efficiency. This crypto trading platform offers a selection of over 2,000 tokens while boasting a transaction capability of up to 1.4 million operations per second, making it a fast and versatile option.

The platform also stands out in futures trading, supporting up to 500x leverage in USDT-M perpetual futures, similar to BitMart, with a highly capable trading engine underpinning its performance. For those new to trading or looking to practice, MEXC offers a demo trading feature alongside a variety of staking and DeFi services for passive income.

MEXC has comprehensive security measures in place to protect users’ funds and data while offering non-KYC accounts to those who prioritize anonymity. Moreover, the platform’s mobile app replicates the website’s functionality, ensuring a seamless trading experience on the go. However, while it excels in many areas, there’s room for improvement in educational resources for beginners and direct fiat currency swaps.

4. WEEX — Best Crypto Trading Platform for New Coins

WEEX is often the first stop new crypto tokens make from decentralized to centralized exchanges. The trading platform supports over 980 coins and is constantly expanding its listings. So, whether you’re looking for niche AI cryptos, new and exciting memes, or the hottest RWA projects, Weex is the place to be.

Similar to MEXC and Binance, WEEX has a native token, WXT, that gives its holders fee discounts and priority access to the platform’s various events and promotions. Speaking of fee discounts, these could reach up to 70%, based on the amount of WXT tokens held and your VIP level, which you can boost by increasing your 30-day trading volume.

In addition to trading early-stage coins, WEEX is also an excellent place for airdrop farming, particularly through its WE-Launch platform. Based on our WEEX review, we found that the service offers time-based events for various coins, where holding WXT rewards you with a piece of the prize pool. Keep in mind, however, that you must hold at least 1,000 WXT tokens to participate, which might be an issue for some investors, especially since the coin is currently trading at all-time highs.

5. Best DEX – Best In-Wallet Decentralized Crypto Exchange in 2025

Best DEX is a decentralized exchange, part of the Best Wallet app – a non-custodial crypto wallet that is available worldwide and doesn’t require KYC verification. It allows you to securely store and trade over 1,000 tokens across 60+ blockchains, including Bitcoin, Ethereum, Solana, and Binance Smart Chain.

This low-cost exchange determines trading fees based on the specific liquidity pools, which are competitive overall but can be further reduced if you hold $BEST, the platform’s native token. Staking is also available, so you can earn interest while keeping all your assets safe on the platform’s non-custodial wallet.

The platform is also Web3-enabled, allowing integration with a wide range of dApps for news, market analysis, and even gambling. Plus, it gives you access to the best crypto presales, so you can maximize your profit opportunities. Furthermore, Best DEX supports staking through Lido and Rocketpool, integrates with iGaming and news sites, and can even help you sort your crypto taxes via providers like Blockpit and CoinTracker. All this makes it a top option for anyone looking for a reliable, all-in-one crypto exchange in 2025.

6. CoinFutures — Best Crypto Exchange for High-Leverage Futures Trading

CoinFutures is a relative newcomer among the top crypto exchanges in 2025, but it impressed us with its huge leverage allowance of up to 1,000x across 11 futures markets. This makes it suitable for aggressive traders who are able to execute trades with surgical precision, aiming for outsized returns.

CoinFutures offers a simulated, gamified trading experience without real market exposure, meaning you’ll be trading your chosen asset’s price chart instead of actual contracts. The platform is also among the most beginner-friendly we’ve seen, with simple Up and Down buttons corresponding to long and short positions, and a clean, minimalistic interface.

In addition, the exchange doesn’t require you to provide any personal information, which makes it an excellent choice for privacy-conscious traders. Keep in mind, however, that CoinFutures doesn’t have a spot market, so it’s not suitable for investors and HODLers, but rather short-term traders.

7. MoonPay — Top Fiat-to-Crypto On-Ramp for Beginners

Founded in 2019, MoonPay has quickly become a leading fiat-to-crypto payment gateway. The platform supports 170 cryptos, with payment methods including debit/credit cards, Apple Pay, Google Pay, and bank transfers. Unlike traditional exchanges, MoonPay specializes in making crypto purchases quick and accessible for beginners and experienced investors alike. On the other hand, it doesn’t have any advanced trading features that regular exchanges have.

Its simple UI, wide range of local payment options, as well as crypto app integrations, have made MoonPay one of the most trusted on-ramps for entering the crypto market. The platform partners with numerous wallet brands and exchanges, allowing you to purchase crypto directly without leaving the app.

While MoonPay is excellent for speed and convenience, fees are higher than those of traditional exchanges, going up to 4.5%. Still, for users who prioritize simplicity and secure fiat-to-crypto access, it’s a top-tier option.

8. BTCC — Best Crypto Exchange for Leveraged Trading

BTCC is one of the crypto veterans, launched in 2011. Surviving and thriving in multiple bull/bear cycles, BTCC is a popular crypto trading platform offering over 500x leverage on over 300 futures pairs. It serves over 10 million registered users who trade over $32 billion in a 24-hour period. Spot trading comes with fees of 0.2% and 0.3% for makers and takers, respectively, while futures trading comes with 0.03% and 0.06% maker/taker fees. Using a VIP tiered structure, you can climb the ladder to further lower your fees and get various benefits, including fee coverage and a withdrawal fee discount.

You also get access to copy trading features, which can be an excellent passive income option for those who find the right trader. Interested investors can visit the copy trading page and search through traders based on PnL (Profit and Loss), AUM (Assets Under Management), win rate, and more.

Additionally, beginners can trade using BTCC’s demo account and learn or test new strategies with virtual funds. Overall, this is an excellent platform for leverage traders and investors looking for passive income opportunities.

9. BloFin — Best Crypto Exchange for Meme Coins Trading

Launched in 2019, BloFin has emerged as a robust platform for traders seeking high-leverage trading of the best meme coins on the market. The exchange supports over 590 coins, many of which are in the memes category, such as WIF, PENGU, BONK, and more. The platform offers leverage up to 150x on select contracts. BloFin also provides spot trading, copy trading, and demo trading features, making it suitable for a wide range of trading strategies and experience levels.

The platform’s integration with Fireblocks ensures secure custody solutions, and its ISO 27001 certification underscores its commitment to information security. In addition, BloFin maintains a 1:1 reserve of user funds, so you can rest assured that your withdrawals will be processed without issues when trading meme coins.

BloFin’s fee structure is tiered based on VIP levels, which may be complex for beginners. Additionally, while the platform allows crypto purchases using over 90 fiat currencies through third-party providers, it does not support direct fiat withdrawals, which could be a limitation for some users.

10. KCEX — Cost-Effective Exchange with Zero-Fee Spot Trading

KCEX is a popular cryptocurrency exchange that has quickly gained attention for its zero-fee spot trading and low-cost futures trading with 0% maker and just 0.01% taker fees, making it an attractive option for cost-conscious traders.

The platform supports over 820 cryptocurrencies, including popular altcoins and emerging tokens. KCEX offers leverage up to 125x on select futures contracts and provides advanced trading tools, including TradingView integration for comprehensive chart analysis. Security is a key focus for KCEX, implementing 2FA protocols, cold storage for digital assets, and compliance with financial regulations, including registration with FinCEN.

Furthermore, KCEX is a no-KYC exchange, so you can trade, invest, and withdraw up to 30 BTC daily without passing verification. However, the platform does not support fiat currency transactions, requiring users to deposit and withdraw using cryptocurrencies. Additionally, KCEX is unavailable in certain countries, including Canada and Singapore.

11. Bybit — Best Derivatives Crypto Exchange for Options Trading

Headquartered in the UAE, Bybit is a major player in the crypto and derivatives trading world and is renowned for its instant trade execution and options trading support. It offers European-style, cash-settled options trading, margined and settled in USDC or USDT, and provides various tools to hedge risk, diversify strategies, and maximize profits with no funding fees or liquidation risks for buyers.

Security-wise, Bybit has a dual wallet mechanism that segregates funds into cold and hot wallets. This ensures that the majority of user assets remain offline, safeguarding against online threats. Its recent introduction of passkeys for user accounts, on the other hand, makes logging in as secure and convenient as possible.

On the downside, the exchange has fairly limited global availability. It’s restricted in countries such as the US, the UK, and parts of Canada. Furthermore, many of its supported coins are only available for futures trading.

12. Margex — Best Crypto Exchange for No-KYC Sign-Up

Since its inception in 2020, Margex has facilitated derivatives trading, supporting various crypto-USD pairs for leveraged trading. Moreover, the platform’s no-KYC policy makes it one of the best anonymous crypto exchanges, and simplifies the onboarding process, appealing to anyone who values privacy. With support from twelve liquidity providers, Margex offers high liquidity and makes trading more efficient.

Offering leverage options from 5x to 100x, Margex lets you execute your strategies effectively and maximize your profit opportunities. Plus, it allows various account funding methods, such as depositing crypto and stablecoins or purchasing Bitcoin with Visa/Mastercard.

Despite its unregulated status, Margex has security measures such as 2FA and cold storage wallets in place. The platform’s MP Shield AI system protects you from price manipulation and ensures fair trading conditions. Customer support is robust and available 24/7 via live chat and email.

13. Bitunix — Best Crypto Exchange for Risk Management

Forced liquidation is among the biggest risks in crypto leverage trading, and based on our research, Bitunix takes it more seriously than most. To protect its users from unnecessary losses, the exchange has introduced a tiered risk limit system that adjusts the maximum leverage available and the minimum margin requirement, based on the position size.

For example, positions between $60 and $100 million can only apply 1x leverage, and have a minimum margin requirement of 50% – both of which significantly reduce your risk exposure. In the meantime, positions sized up to $150,000 benefit from up to 125x leverage and only require a 0.4% maintenance margin. Furthermore, Bitnux monitors positions in real time and will attempt to partially liquidate losing trades step-by-step instead of wiping out your entire portfolio.

Bitunix is also the world’s first exchange to fully integrate TradingView into its mobile app. This means that you can take advantage of hundreds of indicators and numerous charting tools, as well as backtest various strategies while on the go. The exchange is also solid on the coin support front, offering over 580 cryptos and 960+ trading pairs.

14. BingX — Best Crypto Exchange for Traditional Markets Support

BingX, established in 2018, is a significant player in the cryptocurrency exchange market, with over 10 million global customers. A standout feature is its support for stocks, forex, and indices trading, making it an attractive option if you’re looking to diversify your investments beyond cryptocurrencies.

The platform offers robust security features, including two-factor authentication (2FA) with Google Authenticator or biometrics, cold storage for the majority of user funds, and a self-insurance fund to cover unexpected losses.

Setting up an account on BingX is straightforward and doesn’t require a KYC process. However, unverified accounts are limited to basic trading functionalities and have capped trading volumes. So, unless you value anonymity above all else, you might not get enough out of the exchange without providing personal information.

15. PrimeXBT — Best Crypto Exchange For High Liquidity

PrimeXBT offers an extensive selection of financial instruments, including crypto CFDs, commodities, indices, and forex. The platform’s high liquidity ensures that trades are executed quickly and efficiently, minimizing slippage, while the integration with Amazon AWS servers and numerous liquidity providers contributes to this efficiency.

PrimeXBT is particularly notable for its high-leverage options. You can access up to 200x leverage on Bitcoin and Ethereum CFDs and up to 100x on altcoins and indices, which is high even when compared to industry leaders like Binance and OKX.

The platform also offers advanced trading tools that cater to both novice and expert traders. The proprietary copy trading solution is especially beneficial for beginners, enabling you to replicate the trades of experienced investors. Despite being unregulated and offering limited fiat support, PrimeXBT’s comprehensive features and robust performance set it apart from competitors.

16. Coinbase — Best Crypto Exchange for Beginners

Founded in 2012, Coinbase has evolved into a publicly traded, decentralized exchange serving over 100 countries and facilitating access to over 300 cryptocurrencies. Its platform mirrors the intuitive navigation of online banking apps, making it easy for new users to get into crypto trading.

Coinbase also comes with robust security measures, including FDIC insurance for U.S. dollar balances and digital fund insurance. Trading fees, though competitive, can be steep for small-scale traders, ranging up to 0.60% depending on your trading volume.

Beyond trading, Coinbase offers an NFT marketplace and opportunities for passive earning on over 100 assets. However, due to its compliance with regulations, it supports a relatively small pool of ~290 coins and doesn’t list new coins as frequently as exchanges like Bybit and MEXC.

17. Kraken — Best Crypto Exchange for Experienced Traders

Established in 2011, Kraken was a pioneer in the industry. It allows you to purchase and trade over 470+ tokens using nine fiat currencies. Its main platform caters to users of all levels, but Kraken Pro is ideal for experienced and professional traders. The Pro dashboard provides you with high-speed execution, 13 order types, order books with detailed information, and customizable chart analysis tools.

With Kraken, you can carry out crypto margin trading with up to 5x leverage and execute crypto derivatives trading strategies.

Kraken also offers 100+ multi-collateral futures contracts and API integration, allowing you to automate your trading strategies with custom bots.

Features like two-factor authentication, cold storage for the majority of user funds, and regular security audits make sure Kraken is tightly guarding your crypto assets. Thanks to its regulatory compliance efforts, Kraken is also among the few exchanges fully available in the US.

18. eToro — Best Crypto Exchange for Copy Trading

Founded in 2007, eToro gives you access to over 80 cryptocurrencies (non-US traders only), as well as stocks and ETFs. In addition, this crypto trading platform has a well-designed interface that’s easy to navigate and ideal for beginners and experienced users alike.

In total, eToro gives you access to over 5,000 financial products, including its famous CopyTrader tool. This award-winning technology allows you to copy the portfolios and trades of successful crypto traders in real time. You can also practice your trading skills with a $100,000 demo trading account.

eToro has a minimum deposit starting from $10 (depending on your region) and a flat fee of 1% for crypto spot trading, making it easy to start trading right away without having to grasp complex trading fee structures. And when it comes to security, privacy, compliance, and customer service, eToro maintains some of the highest standards in the industry.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.

The 18 Best Crypto Exchanges and Platforms Compared

Below is a table comparing the 18 best crypto exchanges based on the number of tradable coins, minimum deposit, crypto trading fees, and what users they’re most suitable for in December 2025.

Other Crypto Exchanges We Considered

Our methodology and testing criteria prevented us from listing many of the most popular crypto exchanges. Here are some of the platforms that provide solid features, security, and trading tools, but didn’t make the cut:

How Do Cryptocurrency Exchanges Work?

Crypto exchanges allow you to buy, sell, and trade cryptocurrencies, like Bitcoin and Ethereum. To get started, simply create an account and deposit funds. When you place an order to buy or sell a cryptocurrency:

This process usually happens instantly, especially on centralized exchanges. In addition, crypto exchanges typically provide you with a wallet to store your cryptocurrencies.

These platforms employ security measures like encryption, two-factor authentication (2FA), and cold storage of assets to protect your funds from hacking and unauthorized access. In exchange for these services, crypto trading platforms may charge fees for executing trades, depositing or withdrawing funds, or accessing certain features.

Different Types of Crypto Exchanges

Centralized and decentralized exchanges are the two main types of crypto exchanges. Here, we’ll go over their differences and benefits to help you decide which suits you best:

Centralized Exchanges (CEXs)

Centralized crypto exchanges, also known as CEXs, are intermediaries that facilitate trades between buyers and sellers. When you enter an order, the CEX serves as the counterparty for the trade and provides liquidity to fulfill the order.

In other words, if you buy Bitcoin, it’ll come directly from the CEX rather than another user who’s selling Bitcoin at that moment. By doing this, CEXs take on some risk, so they charge higher fees to account for this risk.

Decentralized Exchanges (DEXs)

Decentralized exchanges, also known as DEXs, work without a central authority. Instead, transactions occur directly between users through smart contracts on blockchain networks. This means that if you buy Bitcoin, it comes directly from another user who’s selling Bitcoin at that moment.

While some DEXs offer direct fiat-to-crypto or crypto-to-fiat trading pairs, many don’t support these conversions directly. Still, some have integrated with third-party services or decentralized finance (DeFi) protocols that enable these transactions.

Examples of decentralized exchanges include Best DEX, Uniswap, and SushiSwap. Some decentralized platforms, such as BlockchainFX, connect DeFi with traditional financial markets, supporting crypto along with assets like forex, stocks, and commodities.

Peer-to-Peer (P2P) Exchanges

Peer-to-peer crypto exchanges allow you to buy and sell crypto directly from and to other users. This eliminates the need for traditional order books, as sellers determine the coin they wish to sell and the price they’re asking for, while buyers set their preferred currency and payment type and then transfer the funds to the seller.

P2P platforms use escrow services to minimize the risk of scams. Before the transaction is executed, the seller deposits the crypto for sale into the exchange’s escrow wallet, and so does the buyer with the agreed-upon payment currency. This ensures that the tokens and funds are simply sent back if either party doesn’t hold their end of the deal.

There are P2P-only exchanges, such as Paxful, but top crypto platforms like MEXC, OKX, and Binance have their own built-in peer-to-peer marketplaces.

Why Use a Crypto Exchange?

Crypto exchanges are one of the simplest and most affordable ways to buy cryptocurrency with fiat and vice versa. By using a crypto exchange or trading platform, you’ll be able to:

Alternative methods of buying crypto – through a traditional stockbroker, using P2P trading platforms, or through Bitcoin ATMs – are significantly more expensive than exchanges and don’t offer you the same flexibility in terms of what you can do with your tokens.

The one drawback to using crypto exchanges is that, in most cases, you can’t buy crypto anonymously, as they usually require you to go through a Know Your Customer (KYC) process. In addition, fees can be high in centralized exchanges, leading some users to switch to decentralized exchanges.

How to Trade and Invest in Crypto Safely

Cryptocurrencies have been around for 15+ years, but they’re still in their infancy and lack the regulatory framework of traditional markets like stocks, bonds, commodities, and forex. This makes them the Wild West of financial markets, where you can expect huge swings to the upside, but also equally dramatic pullbacks. Being profitable in the crypto space goes beyond choosing the best crypto exchange, following a “trading guru”, or scanning X for the next 1,000x coin.

So, let’s explore the best practices for trading and investing in crypto:

Pick a Strategy

First and foremost, you should decide whether to be a trader, investor, or a combination of both. If you want to capitalize on short-term price movements, you should get familiar with the best day-trading strategies and pick one that suits your trading style and risk appetite. Swing trading is also an option if you still want to jump in and out, but do it over a longer period of time.

On the flipside, investing is usually the safer bet and spares you the emotional rollercoaster of constantly staring at charts, since you’ll be holding your coins for the long-run, regardless of short-lived price fluctuations. If you decide to take this route, check out our top picks for the best long-term crypto investments.

Decide How Much You Want to Invest

The golden rule is to never invest more than you’re willing to lose. This is twice as important in crypto, where pure speculation and hype are a large part of the appeal, and it’s difficult to track a project’s profitability, number of users, and business fundamentals, as you’d do with stocks. How much you should invest depends on your income, savings, and risk tolerance. If you have a varied portfolio, it’s generally a good idea to allocate just 5% to 10% to crypto.

What Our Expert Says...

Tsvetomir Koychev

Content Lead, Exchanges & Wallets

“Regardless of whether you start with $100 or $100,000, protecting your capital should be your top priority. So, while that leverage slider may look tempting or a meme coin may look like it's about to surge 100x, avoid overexposing yourself in a market known for its volatility.“

Tsvetomir Koychev

Content Lead, Exchanges & Wallets

Do Your Research

Trading and investing blindly is a recipe for disaster, so always do your due diligence. Luckily, there’s no shortage of crypto research platforms. If you’re planning to try out a new exchange, you can check its trust score, volume, and liquidity on sites like CoinGecko. CoinMarketCap, on the other hand, is an excellent place to research crypto projects in terms of tokenomics, trading volume, and market cap.

Additionally, if you want to go up the risk curve and dabble in memes or shitcoins on-chain, platforms like RugCheck are invaluable in spotting red flags before jumping in and protecting yourself from potential rug pulls.

Diversify Your Portfolio

Portfolio diversification is key. The crypto market is often driven by hype and narrative, both of which don’t last long. As a result, a properly balanced portfolio protects your investment, regardless of what the market is focusing on at the moment. For example, holding a memecoin-only portfolio is highly risky when blue-chip coins are rising, while doubling down on Bitcoin and Ethereum has a high opportunity cost when altcoins are surging during alt season.

To ensure your exposure to the market is balanced, you should spread your capital across cryptos in different categories, market caps, and narratives.

Think About Storage

Say you’ve chosen a top crypto exchange, you’ve decided on how much you want to trade or invest with, and you’ve picked high-quality crypto projects. Where do you store your coins or profits? Crypto exchanges have become increasingly secure, but they’re still susceptible to hacks and data leaks, and the same goes for hot crypto wallets. So, as a rule of thumb, you should only keep amounts you need for the short-term on such platforms.

Our advice is to choose a high-quality cold crypto wallet for long-term holdings and withdraw your profits to a bank account instead of holding them in stablecoins.

Don’t Ignore Taxes

Crypto resides outside the traditional banking system, which makes taxes an often-overlooked aspect. However, this mistake can land you in trouble with the IRS, as selling, trading, or spending your crypto are all taxable events.

Depending on where you reside, you can expect to pay between 10% and 37% on your profits. Since laws and regulations vary, we recommend hiring an accountant to help you sort out your taxes. Alternatively, you can use a specialized crypto tax platform, such as Blockpit, CoinTracking, or Kryptos. If you’re interested in these, you’ll be happy to know that Best DEX allows you to use them straight from the app’s dashboard.

How to Choose a Crypto Exchange

In this section, we’ll delve into the five most important factors to consider when choosing the best crypto exchange for you.

Accessibility

Not all crypto trading platforms are available in all countries. In fact, many exchanges don’t accept US customers. While US users may be able to access these platforms with a VPN for crypto, exchanges are increasingly cracking down on this practice to avoid trouble with US regulators. Out of our list of the best cryptocurrency exchanges, the following are available in the US:

Security

Security is crucial to protect your funds from hacking or theft. When choosing a crypto exchange, assess the following factors:

Available Coins

A wide selection of coins allows you to diversify your investment portfolio, spreading risk across different assets. This is why the number of coins available in a crypto exchange is essential.

In addition, more coins mean more trading pairs, giving you more flexibility to execute trading strategies and capitalize on market opportunities. Besides, some crypto trading platforms list newer or lesser-known coins with potential for growth, giving you more investment options.

Finally, you should assess whether an exchange offers specific cryptocurrencies you want to trade or invest in.

Trading Volume

An exchange’s trading volume impacts liquidity for trading. The more trading volume a crypto exchange has, the easier it’ll be to buy and sell tokens at the current market price without slippage.

Additionally, more active trading pairs on high-volume exchanges typically result in more accurate and competitive pricing, benefiting you with better execution prices.

Lastly, crypto trading platforms with consistently high trading volumes are often more stable and reliable, with robust infrastructure to handle peak trading periods and minimize downtime.

Educational Resources

Cryptocurrency trading can be complex, especially for beginners. High-quality educational resources can shorten the learning curve and empower you to make informed decisions. Many platforms offer detailed guides on:

For instance, Kraken has a 12-article series for beginners, covering crypto basics and the most well-known coins, as well as how to buy and use cryptocurrency.

In addition to the exchange’s educational resources, you can learn by engaging with the platform’s community, being active on forums, and attending webinars.

Crypto Exchange Fees

Cryptocurrency exchanges charge various fees for their services, including trading fees, withdrawal fees, and other account fees. Let’s break them down.

Trading Fees

Crypto exchanges charge trading fees when you buy, sell, or trade cryptocurrencies. These fees vary between exchanges and can be calculated in different ways, such as a percentage of the transaction amount or a fixed amount per transaction. For example:

Fixed fees, like those PrimeXBT charges, are rare, though. Most crypto trading platforms charge tiered percentage fees based on a maker/taker model, with different fees depending on whether you’re adding liquidity to the market (i.e., limit orders) or reducing liquidity (i.e., market orders). Trading volume also usually plays a role. For instance, OKX categorizes its users into tiers by their 30-day trading volume and total asset balance, reducing the fees for high-volume traders:

Crypto futures trading and margin trading fees are typically lower than spot trading fees but similarly tiered. They vary based on additional factors, such as the level of leverage used in a trade.

Withdrawal Fees

Some crypto exchanges charge withdrawal fees when you withdraw fiat or cryptocurrency from your account. Fees vary based on the withdrawal method; fiat bank transfers are often free, but wire transfers or payments to a credit/debit card are not. Expect a $10-$25 fee per withdrawal using these methods.

For crypto, withdrawal fees vary based on the coin being withdrawn. In addition to the exchange’s withdrawal fee, you need to pay network fees for transferring tokens to another wallet. These fees are typically small but vary by blockchain.

Other Fees

Most crypto exchanges don’t charge any additional fees. However, some platforms charge custody fees for holding your crypto assets or deposit fees for payment methods like wire transfers.

How to Get Started With a Crypto Exchange

The process of opening a crypto exchange account varies depending on whether you’re using a centralized, decentralized, or no-KYC exchange.

1. Add an Email and Create a Password

This step is more or less universal. Even if you’re using a decentralized platform like Best Wallet’s Best DEX, you’ll need to set up your login credentials. The only exception is decentralized exchanges that let you connect a self-custodial wallet and start trading immediately.

2. Complete Identity Verification if Required

If you’re using a centralized exchange like OKX or Binance, you’ll need to complete KYC verification. Simply upload photos of the required documents and wait for approval. Some exchanges may require additional steps, though, like taking a selfie with your ID to prove the documents you submitted are yours.

Conversely, no-KYC exchanges, such as MEXC and BloFin, will let you deposit, trade, and invest without mandatory KYC. However, you’ll often face withdrawal limits, and you may be unable to use the platform’s full functionality.

3. Fund Your Account

Before you can start trading, you’ll need to fund your account. The best crypto exchanges offer various deposit methods, such as crypto, bank transfers, credit cards, and payment services like PayPal, Google Pay, and Revolut.

4. Start Trading and Investing

Once you’ve funded your account, you can head to your exchange’s trading interface. The top options on our list support spot trading, derivatives, staking, and many additional services.

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