There are nearly 6,000 virtual currency trading platforms around the world. How to trade Bitcoin? Which virtual currency trading platform is best? This article sorts out the data of major virtual currency trading platforms and based on feedback from netizens, ranks the world’s major cryptocurrency exchanges, and ranks the top 20 virtual currency trading platforms for your reference. In addition, due to the different countries or regions and policies of various cryptocurrency trading platforms around the world, there are differences in legal currency deposits, currency quantities, contract restrictions, language support, etc. Please choose carefully.
Cryptocurrency trading platform ranking
There are currently thousands of virtual currency trading platforms around the world. It is recommended to choose a platform with large trading volume, good liquidity, and popular users! The following 2024 global cryptocurrency trading rankings are evaluated based on the asset size, trading volume, trading currencies and popularity of cryptocurrency exchanges! It is recommended to choose a platform that is large-scale, has corresponding language services and supports legal currency deposits, such as global cryptocurrency exchanges such as Binance and Oyi !
| Virtual currency trading platform | established | handling fee | Features | Transaction support | language |
|---|---|---|---|---|---|
| 1. Binance | 2017 | 0.02%~0.1% | Strong assets, large transaction volume, multiple currencies, low handling fees, and good user experience | Spot/futures/OTC/fiat currency | Support Chinese |
| 2. Coinbase | 2014 | 0.05%~0.6% | With a US license, there are few currencies, high handling fees, and cannot be used in many countries. | Spot trading, fiat currency | ❌No Chinese |
| 3. OKX Ouyi | 2017 | 0.1% | Old brand, 100 times leverage, mainly crypto derivatives trading, low fees | Spot/futures/options/fiat currency | Support Chinese |
| 4. Huobi HTX | 2013 | 0.01%~0.2% | A well-established platform with many currencies and low rates. The parent company is listed in Hong Kong. | Spot/futures/fiat currency | Support Chinese |
| 5. Bitfinex | 2012 | 0.1% | An established exchange with a history of being stolen, owned and operated by iFinex | Spot/futures/OTC/fiat currency | Support Chinese |
| 6. Knet Kraken | 2011 | 0.01%~0.4% | An established exchange with large trading volume and support for a variety of mainstream digital assets | Spot/futures/OTC/fiat currency | Support Chinese |
| 7. Gemini | 2014 | 0.25% | Holds a US license, has fewer varieties, and meets the complex needs of institutional users. | Spot trading, fiat currency | ❌No Chinese |
| 8.Gate.io | 2013 | 0.1% | An established exchange that supports third-party robots and low handling fees | Spot/futures/options/fiat currency | Support Chinese |
| 9. Bithumb | 2016 | 0.04% | Korean exchange, no leverage trading, Chinese language canceled | Spot trading, fiat currency | ❌No Chinese |
| 10. Hotcoin | 2017 | 0.1%~0.2% | Multiple currencies, high liquidity, simple and easy-to-use interface | Spot/Futures/OTC | Support Chinese |
| 11. Kucoin | 2017 | 0.1% | Multi-currency, non-mandatory KYC verification, comprehensive functions | Spot/Futures/OTC | Support Chinese |
| 12. Bitstamp | 2011 | 0.4% | A well-established European platform with relatively high rates and has been hacked and lost coins. | Spot trading, fiat currency | ❌No Chinese |
| 13.Bitget | 2018 | 0.02%~0.1% | Good liquidity and low handling fees | Spot/Futures/OTC | Support Chinese |
| 14. Coinw | 2017 | 0.01%~0.2% | Variety of varieties, support for OTC transactions, and obtained multi-national licenses | Spot/Futures/OTC | Support Chinese |
| 15. Bitflyer | 2014 | 0.1% | A long-established Japanese exchange with few varieties and fast trading speeds | Spot/futures/fiat currency | ❌Unknown |
| 16. BitMEX | 2014 | 0.015%~0.1% | Late development, average trading depth, very suitable for novices | Spot/Futures/Options | Support Chinese |
| 17. Bybit | 2018 | 0.015%~0.1% | Eureka Exchange, no currency deposits, low transaction fees | Spot/Futures/Options | Support Chinese |
| 18. MEXC Global | 2018 | 0.02% | The handling fees are extremely cheap, focusing on altcoins | Spot/Futures/OTC | Support Chinese |
| 19. BitVenus | 2018 | 0.1% | Obtained licenses from the United States and Canada, with fewer varieties | Spot/Futures/OTC | Support Chinese |
| 20. XEX | 2019 | 0.1% | Singapore Exchange, integrating the advantages of web2.0 and 3.0 | Spot/Futures | Support Chinese |
| 21.Upbit | 2017 | 0.25% | Korean exchange does not support contract trading | Spot trading, fiat currency | ❌Unknown |
Introduction to the world’s top 10 virtual currency trading platforms
From the perspective of scoring, the following will introduce the top ten virtual currency trading platforms in the world, and make reference to the company background, services, security and features of virtual currency exchanges.
1. Cryptocurrency trading platform- Binance
Rating: ⭐⭐⭐⭐⭐ (five stars)
Company background: Binance was founded by Chinese-American Changpeng Zhao in 2017. It has become one of the world's largest cryptocurrency exchanges, with a daily trading volume of US$100 billion!
Service products: Binance provides more than 300 cryptocurrency trading services to many countries and regions around the world. It is also the first exchange to launch its own platform crypto asset BNB!
Legal currency deposit: Binance supports the purchase of digital assets with legal currencies from multiple countries, and can use credit cards and C2C legal currency transactions around the world. It supports contract transactions with up to 125 times leverage (long or short), and users can adjust the leverage themselves.
Fund security: In terms of security, Binance requires users to set up two-factor authentication 2FA, use security standards (CCSS) to protect accounts, and set up an investor protection fund (SAFU) to insure the loss of stolen assets when hacked.
Main features: The main features of Binance are a large number of digital assets that can be bought and sold, good liquidity, low handling fees, and 7*24-hour customer service, including Chinese. The disadvantage is that its use is limited in some countries and regions.
2. Virtual currency trading platform-Coinbase
Rating: ⭐⭐⭐⭐⭐ (five stars)
Company background: Coinbase was founded in San Francisco in 2012. It is the first virtual currency trading platform in the United States to hold a formal license. In 2018, Coinbase received approval from the U.S. government (SEC and FINRA) and was listed online. License to trade security tokens!
Coinbase was listed on the Nasdaq Stock Exchange in the United States in April 2021 (stock code COIN), and has now become one of the most influential cryptocurrency exchanges in the world! Unfortunately, Coinbase mainly serves European and American countries and does not support use in China yet!
3. Cryptocurrency trading platform- OKX
Rating: ⭐⭐⭐⭐⭐ (five stars)
Company background: OKX is a cryptocurrency exchange platform registered in Seychelles. It is an international company focusing on the development and application of blockchain technology and digital assets. OKX was established in 2017. Ouyi's solid foundation has attracted the world's top technical and business experts, enabling OKX to provide safe, stable and reliable trading services through the Internet.
Main features: The main features of Ouyi are a large number of digital assets that can be bought and sold, good liquidity, low handling fees, 7*24-hour customer service, and also supports Chinese customer service. Highly rated in Asia.
4. Virtual currency trading platform- HTX (Huobi)
Rating : ⭐⭐⭐⭐ (Four stars)
Company background: HTX (Huobi): is a cryptocurrency exchange established in China in 2013. In 2017, affected by the policy, the headquarters moved to Singapore. The subsidiary (Huobi Japan) is a Japanese licensed exchange! On October 8, 2022, Huobi was acquired by the M&A fund of Hong Kong Baiyu Capital. Baiyu Capital became the largest shareholder and actual controller. It was later renamed HTX and has withdrawn from the mainland Chinese market.
Service products: HTX (Huobi) provides many products, and also supports the purchase of digital assets with legal currency. The most distinctive feature is that you can apply for digital residents. However, the degree of internationalization is not high, and HTX has a high reputation in Asia!
5. Cryptocurrency trading platform-Bitfinex
Rating : ⭐⭐⭐ ⭐ (four stars)
Founded in 2012 and headquartered in Hong Kong, Bitfinex is one of the largest Bitcoin trading platforms and a very mysterious cryptocurrency exchange. Currently owned and operated by iFinex. iFinex is the parent company of Tether, the issuer of the well-known stable currency USD T (Tether).
Bitfinex has been stolen many times. In 2016, it was hacked and 120,000 Bitcoins were stolen. Affected by this incident, the price of Bitcoin instantly plummeted by 20%! Since then, Bitfinex has continued to improve the security of its systems, improve its auditing processes, and reduce the "attack surface" of its infrastructure. Currently, Bitfinex is considered a safe cryptocurrency exchange.
6. Cryptocurrency Exchange Ranked 6-Kraken K Network
Rating : ⭐⭐⭐⭐ (Four stars)
Kraken was founded in 2011 and is located in San Francisco, USA. It is one of the old Bitcoin exchanges and the virtual currency trading platform with the largest euro trading volume. It supports multiple legal currencies such as the US dollar, British pound, and Japanese yen. The platform has high-quality services, low fees, strict security standards and diverse funding options. It has always been considered the best online trading platform for buying and selling Bitcoin!
In September 2020, Kraken received approval from the Wyoming Banking Commission and became the first digital asset trading platform in the United States that can set up a bank. However, it is not open to mainland China due to regulatory restrictions!
7. Cryptocurrency Exchange Ranked 7-Gemini
Recommendation index: ⭐⭐⭐ ⭐ (four stars)
Gemini is a cryptocurrency exchange (also known as Gemini) founded by the Winklevoss twin brothers and is headquartered in New York, USA. Gemini was originally a licensed crypto asset exchange and custody company established for individuals and corporate institutions. It is regulated by the New York State Department of Financial Services (NYSDFS) and is one of the few regulated cryptocurrency exchanges in the world. Gemini founder Cameron Winklevoss believes that Bitcoin will eventually reach $500,000!
8. Cryptocurrency Exchange Ranked 8-Bithumb
Recommendation index: ⭐⭐⭐ ⭐ (four stars)
Founded in 2014, Bithumb is one of the largest cryptocurrency exchanges in South Korea, accounting for 75% of the Korean market. Although the Korean won is currently the fourth largest currency market for Bitcoin, behind the U.S. dollar, euro, and yen, the Korean won market is the largest market for Ethereum, with Bithumb accounting for about 44% of Ethereum transactions in South Korea. In March 2019, hackers stole ETH virtual currency worth 35 billion won ($31.5 million). Currently, Bithumb has canceled its Chinese service and focuses on the Korean market!
9. Cryptocurrency Exchange Ranked 9 – Bitflyer
Recommendation index: ⭐⭐⭐ (Samsung)
Founded in 2014, BitFlyer is a regulated cryptocurrency exchange in Japan and has licensed subsidiaries in the United States and Europe. Bitflyer was founded by former Goldman Sachs employees with the intention of filling the vacancy in the Japanese Bitcoin trading market after the collapse of MtGox. It has received two rounds of financing, and investors include Mitsubishi UFJ Capital Co., Ltd., a subsidiary of Mitsubishi UFJ Financial Group! BitFlyer has very complete security guarantees and currently provides 11 cryptocurrencies including Bitcoin and Ethereum.
10. Cryptocurrency Exchange Ranked 10-BitMEX
Rating : ⭐⭐⭐ (three stars)
BitMEX is the most advanced Bitcoin derivatives trading platform, providing up to 100 times leverage for Bitcoin products. BitMEX adopts the latest multi-factor security mechanism from the inside out, with high security performance. BitMEX once set a record of 24-hour trading volume of US$10 billion in 2018. However, due to the impact of the launch of high leverage trading by Binance and Huobi, as well as the US SEC’s anti-money laundering accusations, the business volume shrank significantly!
How to buy Bitcoin?
Step 1: Choose a trading venue
For anyone considering how to buy Bitcoin, the first step is to choose a suitable trading platform. From traditional online brokers to specialized virtual currency exchanges, there are many to choose from.
Step 2: Payment method
For those considering how to buy Bitcoin, the next step is to consider platform payment methods to fund Bitcoin purchases. Users may be asked to provide personal details such as proof of legal identity or employment information, depending on the platform. Most exchanges accept links to bank accounts, debit or credit cards, although some banks may limit or require additional information for digital asset transactions.
Step 3: Know the fees
Different trading platforms have different fees and terms of service that may affect crypto asset investing. Before investing, individuals should research deposit, trading, and withdrawal fees to understand the conditions of the exchange. Some exchanges or brokers will waive fees for your first cryptocurrency purchase.
Step 4: Place order
Most digital asset exchanges emulate the characteristics of traditional market investments, including the choice between one-time top-ups or top-ups in batches. Users can also set stop-loss and take-profit orders to reduce risk.
Step 5: Secure storage
Once users purchase crypto assets, they must protect their assets by understanding secure storage methods. Cryptocurrencies are usually stored in wallets. While most trading platforms offer self-custodial hot wallets, if you intend to hold for the long term it is recommended to transfer your assets to a non-custodial wallet to gain full ownership and control.
How to choose a virtual currency exchange?
Since digital asset trading is a high-risk investment, it is recommended that you have sufficient awareness and knowledge of the risks of digital asset trading before investing!
When evaluating virtual currency trading platforms, the key points to pay attention to when selecting include:
1. Exchange asset size and goodwill: Choose an exchange with strong assets as much as possible, which has advantages in security, service, and handling fees!
2. Whether the trading volume is large enough: It depends on whether the trading liquidity is sufficient (just like stock trading, if there is no counterparty, who will trade with you?)
3. Are there many trading varieties: Some foreign regulated virtual currency trading platforms only provide a few cryptocurrency varieties!
4. Whether to provide leveraged trading: Bitcoin spot and so on can only be bought low and sold high, but there is no way to obtain profits when the market falls! But leverage trading can be long/short two-way trading, and you can make profits whether it goes up or down!
5. Deposit and withdrawal methods: For example, whether to accept credit card payment or bank transfer payment, etc.!
6. Customer service: Check to see if there is customer service in your own language so that you can communicate and resolve problems in a timely manner!
7. Others: Major exchanges have differences in transaction efficiency, service quality, preferential policies, KYC certification, 2FA security certification, etc. You can make your own judgment after registration!
What trading platforms can I choose?
OKX Exchange: trading robot and cryptocurrency for 350+ cryptocurrencies.
MEXC: Best Cryptocurrency Exchange, 0% Spot Trading Fees, 1,700 Cryptocurrency Exchanges.
Binance: The world's largest cryptocurrency exchange, with 350 cryptocurrencies and futures trading.
Bybit: Easy-to-use cryptocurrency exchange with advanced trading options.
