This article introduces the rankings of Bitcoin exchanges and digital currency exchanges based on different measurement standards, including spot trading volume, website traffic, derivatives trading volume, etc., while taking into account average liquidity and transaction fees, and compares them to rank the top 10 Bitcoin exchanges in the world.
Bitcoin exchange rankings (by spot trading volume)
The strength of a Bitcoin exchange can be examined from multiple perspectives. The following is a comprehensive consideration of spot trading volume and average liquidity. Usually, exchanges with large trading volume and high liquidity have data that relatively reflects the size of the trading platform. If the trading volume is large but the liquidity is small, it means that the trading volume may be unreal.
The following is a ranking of Bitcoin and digital currency exchanges by 24-hour spot trading volume and average liquidity:
| Ranking | Exchanges | Spot Trading Volume (24 hours) | Average liquidity |
|---|---|---|---|
| 1 | Binance | $37.9 billion | 841 |
| 2 | Upbit | $ 11.7 billion | 515 |
| 3 | Crypto.com | $ 9.1 billion | 716 |
| 4 | Bybit | $ 8.5 billion | 676 |
| 5 | FameEX | $ 7.9 billion | 907 |
| 6 | OKX | $6.1 billion | 695 |
| 7 | Coinbase | $6 billion | 712 |
| 8 | Gate.io | $4.9 billion | 530 |
| 9 | MEXC | $4.8 billion | 638 |
| 10 | Bitget | $4.5 billion | 621 |
Bitcoin exchange ranking (website traffic)
Generally, a digital currency exchange with large website traffic and high liquidity will not be a laughing matter in terms of scale. If the website traffic is large but the liquidity and transaction volume are small, it means that the website traffic may be false.
Below is a ranking of Bitcoin exchanges by 30-day site traffic and average flow:
| Ranking | Exchanges | Website traffic (30 days) | Average liquidity |
|---|---|---|---|
| 1 | Binance | 54.0M | 841 |
| 2 | Coinbase | 30.1M | 712 |
| 3 | OKX | 23.5M | 695 |
| 4 | Bitget | 22.1M | 621 |
| 5 | Bybit | 21.5M | 676 |
| 6 | Gate.io | 16.3M | 530 |
| 7 | MEXC | 15.6M | 638 |
| 4 | Huobi | 11.6M | 465 |
| 5 | Kraken | 5.4M | 695 |
| 8 | KuCoin | 4.8M | 605 |
Tip: M stands for Million, which means one million. 1M means 1 million (1,000,000). The monthly traffic of Binance official website is 54M, which means 54 million visits.
Bitcoin exchange rankings (by derivatives trading volume)
Cryptocurrency derivatives trading mainly refers to contract margin trading, futures, options, etc. of digital currencies. During the transaction, you can use 1~100 times leverage to go long/short. Of course, the greater the leverage, the greater the risk, and the higher the return. It is recommended that the leverage should not exceed 10 times. The volume of derivatives trading is much larger than that of spot trading. Generally, trading platforms that are not regulated by the country or region generally have higher leverage. Regulated Bitcoin trading platforms have lower leverage and may not even be able to conduct derivatives trading.
A large volume of derivatives trading means it is easier to get a counterparty. If the volume is too small, it is very likely that your trading order cannot be executed. Currently, the top three derivatives trading volumes in the world are Binance, Bybit and OKX, with a 24-hour trading volume of tens of billions of dollars.
Here is a ranking of the top 10 Bitcoin and cryptocurrency exchanges based on 24-hour derivatives trading volume and fees:
| Ranking | Exchanges | Derivatives Trading Volume (24 Hours) | Order Fee | Taker Fee |
|---|---|---|---|---|
| 1 | Binance | $117 billion | 0.02% | 0.04% |
| 2 | Bybit | $46.9 billion | 0.02% | 0.055% |
| 3 | OKX | $45.7 billion | 0.02% | 0.05% |
| 4 | Bitget | $35.3 billion | 0.02% | 0.06% |
| 5 | XT.com | $32.1 billion | 0.04% | 0.06% |
| 6 | Deepcoin | $35.7 billion | 0.04% | 0.06% |
| 7 | MEXC | $37.2 billion | 0% | 0.01% |
| 8 | Bitmart | $44 billion | 0.02% | 0.06% |
| 9 | Gate.io | $4.8 billion | 0.015% | 0.05% |
| 10 | Crypto.com | $6.3 billion | 0.05% | 0.07% |
Data source description:
Website traffic data: comes from similarweb statistics on website visits in October 2024.
Spot trading volume data: 24-hour trading volume on November 25, 2024, as reported by Coinmarketcap.
Average liquidity data: data from Coinmarketcap website on November 25, 2024.
