Since the cryptocurrency has entered the big door, numerous exchange websites have sprung. They offer users either to buy and sale crypto for fiat currency or to exchange coins and altcoins.
There are many factors which tell whether an exchange platform is good or not. You should bear in mind that the best five platforms often change as their offers, fees, and limits frequently vary. Furthermore, not all users have the same requirements when it comes to exchanging cryptocurrencies.
Nevertheless, here are the best 5 platforms which have objectively established themselves as the best in the industry.
Coinbase
Coinbase is often the first platform that comes to mind when the best ones are discussed. Although it has had several controversial issues in the past, it still has over 12 million users with more $40 billion worth of cryptocurrencies exchanged.
Currently, Coinbase supports mainly Bitcoin, Litecoin, and Ethereum. There are indications that they will add other altcoins soon. It is extremely easy to use and the fees are much lower than the fees of similar platforms.
What are The Coinbase fees?
| Fiat Deposit Fee | ACH | Free |
| SEPA | €0.15 | |
| Wire | $10 |
more details about Coinbase fees
CEX.IO
Often compared to Coinbase, CEX.IO is a platform that started as a cloud mining service and Bitcoin exchange but pivoted exclusively to exchange. It currently supports Bitcoin, Bitcoin Cash, Ethereum, Zcash, and Dash.
The platform is also available for Android and iOS devices, and it has gained popularity due to being extremely suitable for complete beginners. It is generally considered a safe and secure website, with just one hacking attack in their resume.
What are The Cex io fees?
| Fiat Deposit Fee | VISA USD | 3.5% + $ 0.25 |
| MasterCard USD | 3.5% + $ 0.25 | |
| Bank Transfer USD | Free | |
| Crypto Capital USD | Free | |
| VISA EUR | 3.5% + € 0.24 | |
| MasterCard EUR | 3.5% + € 0.24 | |
| Bank transfer EUR | Free | |
| Crypto Capital | Free | |
| SEPA | Free |
more details about Cex io fees
Poloniex
Poloniex is a platform full of controversies and red flags. The users are constantly complaining about the bad customer support and prolonged withdrawal periods. It is one of those platforms that would be on both the best and the worst platform lists.
This being the best list, it is inevitable to mention the huge amount of altcoins that this exchange accepts. Although it does not accept fiat currency, it still has some of the highest volumes in the industry as well as the lowest fees.
What are The Poloniex fees?
| Trading Fee | < 600 BTC | 0.25% |
| ≥ 600 BTC | 0.24% | |
| ≥1.200 | 0.22% | |
| ≥2.400 | 2.20% | |
| ≥6.000 | 0.16% | |
| ≥12.000 | 0.14% | |
| ≥18.000 | 0.12% | |
| ≥24.000 | 0.10% | |
| ≥60.000 | 0.08% | |
| ≥120.000 | 0.05% |
more details about Poloniex fees
Kraken
Kraken is Founded in 2011 and is one of the first exchange platforms for cryptocurrencies. It is a currency popular mainly in Europe but also in the rest of the world. It supports many cryptocurrencies and it accepts USD, CAD, EUR, JPY and GBP as fiat currencies.
What makes Kraken part of this list is the ultimate reputation that it enjoys due to the great security and safety standards. Furthermore, it also has the option of margin trading and the TradingView feature allows for precise charting.
What are The Kraken fees?
| Fiat Deposit Fee | < 600 BTC | 0.25% |
| ≥ 600 BTC | 0.24% | |
| ≥1.200 | 0.22% | |
| ≥2.400 | 2.20% | |
| ≥6.000 | 0.16% | |
| ≥12.000 | 0.14% | |
| ≥18.000 | 0.12% | |
| ≥24.000 | 0.10% | |
| ≥60.000 | 0.08% | |
| ≥120.000 | 0.05% |
more details about Kraken fees
Binance
Founded in 2017, Binance is the youngest cryptocurrency exchange company that is currently located in Hong Kong. After raising $15 million in a very successful ICO, the company set the new standards in the industry.
It does not support fiat currencies and it is mainly made for crypto-to-crypto enthusiasts. The number of coins available for trading on Binance is over a 100 and they constantly update this list with new altcoins. The best feature of this platform is definitely its flat rate fee of 0.1% which is two times less than the average exchange fee on other platforms.
What are The Binance fees?
| Fiat Deposit Fee | ACH | Free |
| SEPA | €0.15 | |
| Wire | $10 |
more details about Binance fees
Conclusion
The cryptocurrency industry is big and there are millions of users worldwide who actively trade and exchange their assets. Your personal best may vary depending on your country of residence, skills, and actions that you want to take. If you are not sure which to choose, start with the five platforms mentioned above and see which one suits you the best.
