There is a wide range of different crypto exchanges available on the market, but it’s not always easy to know which option to choose. That is why we at ScandiCrypto have compiled a list of the best trading platforms for buying and selling Bitcoin and other cryptocurrencies, so you can easily find the platform that suits you the most.
See our selection of the best crypto exchanges and choose the one that is best for you.
Best Crypto Exchanges 2023
| 1 |  | ✔️ 160+ cryptocurrencies ✔️ Advanced trading tools ✔️ High liquidity |  Read Review | Trade |
| 2 |  | ✔️ Low trading fees ✔️ VISA card with cashback ✔️ Receive a $50 bonus |  Read Review | Trade |
| 3 |  | ✔️ Innovative design ✔️ Beginner friendly ✔️ Payment by card |  Read Review | Trade |
| 4 |  | ✔️ Beginner friendly ✔️ Great support ✔️ Low trading fees | Read Review | Trade |
| 5 |  | ✔️ Beginner friendly ✔️ Payment by card ✔️ Reliable company | Read Review | Trade |
| 6 |  | ✔️ Beginner friendly ✔️ Great support ✔️ 300+ cryptocurrencies | Read Review | Trade |
| 7 |  | ✔️ 300+ cryptocurrencies ✔️ 24/7 support ✔️ Low trading fees | Read Review | Trade |
| 8 |  | ✔️ User-friendly interface ✔️ 24/7 support ✔️ Low trading fees | Read Review | Trade |
| 9 |  | ✔️ 250+ cryptocurrencies ✔️ Payment by card ✔️ Margin trading | Read Review | Trade |
How We Rate Top Crypto Exchanges
When evaluating the best crypto exchanges, we take several key factors into account to ensure that our recommendations are secure, reliable, and user-friendly. These factors include:
- Security: A top crypto exchange should have robust security features to protect user data and funds. This includes measures like two-factor authentication, cold storage, and insurance.
- Reliability: An exchange’s track record of uptime and availability is critical. We look for exchanges with minimal downtime or system issues, and with reliable customer support in case of technical difficulties.
- User-Friendliness: The exchange should be easy to navigate, with clear instructions and intuitive interfaces for buying, selling, and trading cryptocurrencies. We consider factors like ease of account creation, deposit and withdrawal options, and order book visibility.
- Supported Cryptocurrencies: A good crypto exchange should support a wide range of cryptocurrencies, including popular coins like Bitcoin, Ethereum, and Litecoin, as well as lesser-known altcoins. We consider the number of coins available, as well as the exchange’s listing policies.
- Liquidity: Liquidity is critical for efficient trading, and we look for exchanges with sufficient liquidity to facilitate fast and accurate order execution. We also consider factors like spreads, slippage, and trading volume.
By taking all of these factors into account, we’re able to provide our readers with recommendations for the best crypto exchanges that offer a well-rounded trading experience. Whether you’re a novice trader looking for user-friendly options, or an experienced trader looking for advanced features, our ratings can help you find the exchange that best meets your needs.
How to Choose Cryptocurrency Exchange
If you are completely new to the crypto market, it’s important to know what you should be looking for when choosing your cryptocurrency exchange. Some of the factors include exchange history, security, trading fees, liquidity, markets, and customer service.
This might sound overwhelming for some and in that case, we recommend reading our cryptocurrency exchange reviews and making a decision based on that information. If you are willing to dig through the market and its cryptocurrency exchanges, we recommend looking at the following factors in addition to your basic requirements.
Reputation
When looking for a cryptocurrency exchange it’s always good to search the web for user reviews, reviews made by well-known crypto-related sites, and forums. It’s also good to look at the launch date of the exchange as an old stock exchange will probably have a good reputation compared to a new one.
We always recommend checking whether the cryptocurrency exchange is officially registered and that it also has a license.
Payment Methods
What payment methods are available on the crypto exchange varies from exchange to exchange. Some exchanges only accept deposits and withdrawals of cryptocurrencies which means you won’t be able to deposit or withdraw FIAT-currencies (government-issued currencies such as USD, EUR, NOK or SEK): However, if you want to make a deposit or purchase using FIAT-currency, you want to find an exchange that uses traditional payment methods such as credit/debit card, bank transfer, and PayPal.
Coin-Pairs
Trading pairs or coin pairs refer to transactions between two different types of cryptocurrencies, and not all exchanges support the same pair. There are over 1000 trading pairs, but it is important to remember that there are not exactly trading pairs between Bitcoin (BTC) and Ethereum (ETH) on Binance and for instance Coinbase.
If you are an experienced trader looking to diversify your coin portfolio, look for a good cryptocurrency exchange that supports many trading pairs with high liquidity.
Liquidity
Liquidity is one of the most important aspects of any form of exchange, especially when it comes to cryptocurrencies. You should always choose a crypto exchange that has high liquidity, and this will help you to achieve a fair and stable price for your crypto.
The more liquidity the easier and faster your trade will go through without you having to suffer from the price volatility.
Trading Fees
When it comes to trading fees, the majority display this information on their website. In some cases, there will be a fee when making a deposit or withdrawing from your trading account. In addition to transaction fees, for every trade you make there will most likely be a small trading fee. The industry standard is about 0.25% but some exchanges might even charge you up to 5% which can be very costly if you are trading often.
Customer support
In the cryptocurrency market, finding a crypto exchange with a dedicated customer support team who’s available 24/7 is unfortunately not always easy. Only a few exchanges offer 24/7 customer support, and some exchanges can take weeks to answer simple questions.
When choosing an exchange, we strongly recommend that you look up reviews, forums, and perhaps even visit their social media channel to find more information about the exchange’s customer service.
KYC Verification Requirements
Some exchanges allow you to remain anonymous, but the majority require you to do a KYC (know your customer) verification when making a deposit or withdrawal using traditional payment methods such as credit card or bank transfer. Remember that buying cryptocurrencies with a credit card requires identity verification and carries the risk of being subject to the same charges as other forms of payment, such as bank transfers.
This verification process is normally required by law to protect against fraud and money laundering. KYC is strictly controlled by the crypto exchange and you should submit documents to verify your identity and address.
Any reputable platform that allows cryptocurrencies to be purchased in FIAT-currency is required to do a KYC-verification, so this is generally seen as a good sign.
Our Top 5 Best Crypto Exchanges
If you’re looking to buy, sell, or trade cryptocurrencies, finding a reliable and user-friendly exchange is crucial. With so many options out there, it can be challenging to know which one to choose. To help you make an informed decision, we’ve put together a list of our top five crypto exchanges, each with its unique strengths and benefits. Whether you’re a beginner or an experienced trader, there’s an exchange on this list that’s sure to meet your needs. So without further ado, let’s dive in and explore our top picks for the top 5 best crypto exchanges out there:
- Binance – Best Crypto Exchange Overall
- Crypto.com – Best for Crypto Debit Card
- eToro – Best for Social Trading
- Kraken – Best Exchange for Security
- Coinbase – Best Exchange for Beginners
Binance – Best crypto exchange overall
Binance is one of the largest and most popular exchanges in the world, with a wide range of supported cryptocurrencies and high trading volume. It offers advanced trading tools and low fees for both spot and futures trading.
| ✔️ 160+ cryptocurrencies ✔️ Advanced trading tools ✔️ High liquidity | Read Review | Trade |
Crypto.com – Best for Crypto Debit Card
Crypto.com is a popular exchange that also offers a mobile app and a cryptocurrency debit card. It has a user-friendly interface and offers competitive fees for trading, staking, and buying crypto with fiat currency.
| ✔️ Low trading fees ✔️ VISA card with cashback ✔️ Receive a $50 bonus | Read Review | Trade |
eToro – Best for Social Trading
eToro is a popular platform that offers social trading, allowing users to copy the trades of successful traders. It also offers copy portfolios, which are diversified portfolios of top-performing cryptocurrencies.
| ✔️ Innovative design ✔️ Beginner friendly ✔️ Payment by card | Read Review | Trade |
Kraken – Best Exchange for Security
Kraken is a well-regulated exchange that offers advanced security features, such as two-factor authentication and cold storage of funds. It also allows users to trade fiat currency for cryptocurrencies and has a wide range of trading pairs.
| ✔️ Beginner friendly ✔️ Great support ✔️ Low trading fees | Read Review | Trade |
Coinbase – Best Exchange for Beginners
Coinbase is a beginner-friendly platform that allows users to buy, sell, and store cryptocurrencies with ease. It offers a user-friendly interface, a mobile app, and a range of educational resources for new users. It also has high liquidity and supports a range of popular cryptocurrencies.
| ✔️ Beginner friendly ✔️ Payment by card ✔️ Reliable company | Read Review | Trade |
Legal Status of Crypto Exchanges
Crypto exchanges are subject to various regulations depending on the country or region they operate in. In the US, exchanges must comply with anti-money laundering and know-your-customer regulations and register with FinCEN. In Europe, different countries have different approaches, but the EU has implemented regulations like 5AMLD. In Asia, the regulatory landscape varies widely.
Traders should research the regulatory environment in their own country or region before using an exchange and look for exchanges with strong compliance programs to ensure they comply with all relevant laws and regulations.
Conclusion – What Is The Best Crypto Exchange?
The best cryptocurrency exchange is completely based on one’s specific needs and trading platform requirements. That being said, if you have never purchased cryptocurrencies previously, we strongly recommend you check out Coinbase as it is overall a really beginner-friendly platform. For more moderate users or traders then Binance and Kraken are very good options as it offers more advanced trading tools and trading pairs.
Don’t hesitate to check out our other crypto exchange reviews as these are also solid platforms and if you want to explore further we recommend you always pay attention to the exchange fees, security, verification processes, reputation, and the other previously mentioned factors.