Best Crypto Trading Platforms 2020

This really is a booming year for the cryptocurrency marketplace. Unforeseen volatility in global financial markets is exactly what pushes the rise of cryptocurrency. Therefore, this is time to look into trusted cryptocurrency platforms with guaranteed safety and great accessibility. We have compiled a number of the best platforms on this listing:

WebsiteOverall RatingFeesReputationSupported
Binance
https://www.binance.com/en
9/10LowHigh150+ (BTC, ETH, NEO)
FTX
https://ftx.com/FTX US
https://ftx.us/
8.5/10LowHigh30+ (BTC, BNB, HT, OKB)6 (BTC, BCH, LTC)
Bybit
https://www.bybit.com
8/10LowHigh20 (BTC, XRP, USDT)
Deribit
https://www.deribit.com/
7/10LowHighBTC
Cryptowatch
https://cryptowat.ch/
7/10VariesHigh100+ (BTC, DASH, DOGE, PPC)
Coinbase
https://www.coinbase.com/
7/10HighHigh50(BTC, ETH, XRP)
Prime XBT
https://primexbt.com/
7/10LowHigh9 (BTC, LTC, EOS)
BitMEX
https://www.bitmex.com/
7/10VariesHigh7 (XBT, ADA, BCH, LTC)
Bittrex
https://global.bittrex.com/
7/10LowHigh200+ (BTC, USDT, BSV, ALGO)
Bitfinex
https://www.bitfinex.com/
6.5/10VariesAverage100+ (BTC, LTC, XMR, NEO)
Huobi
https://www.huobi.vc/
6.5/10AverageAverage100+ (BTC, ETC, XMR, IOTA)
KuCoin
https://www.kucoin.com/
6/10LowAbove Average200+ (BTC, XMR, ATOM, TRX)
Cex.io
https://cex.io/
6/10Extremely HighHigh20 (ETH, XLM, XTZ)
Coinmama
https://www.coinmama.com/
6/10HighHigh10 (BCH, ADA, XTZ)
eToro
https://www.etoro.com/
6/10LowHigh100+ (XLM, USDT, LINK)
Coinbase PRO (GDAX)
https://pro.coinbase.com/
6/10VariesHigh20+ (BCH, DASH, ETC, ZEC)
Kraken
https://www.kraken.com/
6/10LowHigh30+ (XDG, NANO, TRX)
Poloneix
https://poloniex.com/
6/10LowAbove average15+ (BTC, USDC, USDT)
Bitstamp
https://www.bitstamp.net/
6/10LowHigh5 (BCH, ETH, LTC)
Gemini
https://gemini.com/wallet
6/10LowAverage15+ (BTC, BAT, REP)
Changelly
https://changelly.com/
6/10LowAbove average150+ (ETH, BNB, ZEC)
LocalBitcoin
https://localbitcoins.com/
5/10NoneHighBTC

Different types of Cryptocurrency Trading Platforms: Exchanges and Terminals

A cryptocurrency exchange identifies some interface which allows you to exchange crypto assets. On the flip side, terminals cover trades apart from exchanges.

We can easily classify trades as centralized or decentralized. The former, as the name implies, has a central point or central hub which does all of the work in a given operation. Decentralized utilizes peer-to-peer networks so that the data does not need to go through one point.

What Is a Cryptocurrency Exchange?

The cryptocurrency exchange is referred to as a web-service that functions as a channel to trade and exchange cryptocurrencies

Types of cryptocurrency exchanges:

Pure exchanges — This refers to channels which do not consider traditional payment methods such as wire transfer or credit card.
Brokers — Are trader networks that trade pools of funds and/or cryptos, and pair them up for customers to purchase.
P2P — Allows participants in the marketplace to directly interact and transact with one another.
What Is a Cryptocurrency Terminal?
Terminals accommodate a greater number of crypto trades and prices aside from those covered by exchanges.

Methodology on How We Find the Best Platform

Get the best out of the crypto market and attain a profitable upper hand when you utilize some of the very best cryptocurrency trading platforms that are currently available at your disposal. We assessed each platform using those standards.

  • Ease of Use
    The simplicity of use refers to the accessibility of the platforms. In analyzing each using this criterion, we observe the functions that users can get throughout this platform.
  • Privacy
    We look into the kind of advice that the platforms are taking out of their users. We also check whether there are vulnerability problems when it comes to the safety and protection of the privacy of consumers when using the system.
  • Speed
    One of anything, we highly value time. We assess the processing period of programs in handling transactions. The faster, the better.
  • Fees
    We compare the additional fees required by each platform to differentiate from which among them may users get the maximum from the transactions.
  • Reputation
    We search for credibility and ethics in the platforms which we review.
  • Limits
    Platforms may enforce restrictions on the number of transactions that users can do. We check if these limitations are justifiable and should these restrictions can still enable users to effectively and efficiently manage and make trades and transactions.

Best Crypto Exchanges and Trading Platforms

Given these factors for consideration, we’ve assessed 22 cryptocurrency trading platforms and evaluated their respective performance impartially.

Simply note that this is not a comprehensive collection of trading platforms. But the catch is, the ones that are included within this list are guaranteed to hand you extensive service and reassuring safety.


BinanceFTXBybitDeribit
Exchange TypeCrypto Derivatives ExchangeCrypto Derivatives ExchangeCrypto Derivatives ExchangeCryptocurrency Derivatives ExchangeTerminal
ReliabilityHighHighHighHighAverage
Deposit MethodsCredit card, Cryptocurrency, Debit card, Bank transferWire transfer, Credit Card, CryptocurrenciesCryptocurrencyBTCCash, Debit Cards, Credit Cards
Ease of useFairIntermediateAdvancedAdvancedIntermediate
PrivacyFairHighHighHighExtremely high
Verification ProcessFastFastNoneFastFast
SpeedAbove averageSlowFastFastVaries
Deposit FeesLowNoneNoneNoneNone
Withdrawal FeesLow$75 (<$10,000)0.0005 BTCMaker-taker modelNone
Trading Fees0.1%Min. of 0.02%0.075%Maker-taker modelVaries
LimitsHigh to noneHigh to noneLowLowVaries
Geographical RestrictionsNoneNot available in USAUSAUS CitizensNone
Margin TradingYesYesYesYesYes
Built-in WalletYesYesYesYesNo
CFD InstrumentsYesYesYesYesYes
ReputationHighHighHighHighYes
Overall Rating9/108.5/108/107.5/107/10

1. Binance – For Altcoin

Binance
  • Site: https://www.binance.com/en
  • Country: Malta
  • Currencies: 40+ fiat
  • Commission: Low
  • Supported crypto: 150+ (BTC, ETH, NEO)
  • Ease of Use: Fair
  • Privacy: Fair
  • Speed: High
  • Fees: Low
  • Reputation: High
  • Limits: Varies

Binance remains the leading cryptocurrency exchange all over the world and secures the top spot in our list. Its innovative features and functions that cater to a myriad of services make it exceptional over other trading platforms. Users can avail bitcoins and altcoins with more than 40 fiat currencies, and the crypto industry is pumped with its proactive community.

  • Ease of Use – Its interface can be adjusted to Basic, Classic and Advanced screens to cater to users of different trading literacy levels.
  • Privacy – Binance collects basic information about users to get verified. User privacy remains uncompromised as it is written that the platform will not share it with any third party without a review from its legal case, and consent from the user.
  • Speed – Users can buy bitcoins and other 15 top cryptocurrencies in a snap using 40 of the most popular fiat currencies. This can be done through traditional payment methods such as bank transfers. It can also handle a large number of transactions with minimal traffic and process transactions within two hours.
  • Fees – Binance charges 0.1% cut of every trade it receives. Thus it stands as one of the cheapest platforms available. You can even lessen this through discount promos such as Binance Coin and referrals (up to 25%).
  • Reputation – Binance has earned great trust from its users. Following a hacking attack last March 2018, the exchange tightened its security and enabled two-factor authentication.

Limits – There are very minimal limits on user deposits and withdrawals. Limits are lifted once users are verified.

 PROS  CONS 
Easy to useWide range of cryptocurrenciesFiat currency is supportedBugs in mobile appSlows down during high trafficLimited customer support

2. FTX and FTX US – With Low Fees

Ftx
  • Site: https://ftx.com/https://ftx.us/
  • Country: Antigua and Barbuda
  • Currencies: USD, CHF, etc.
  • Commission: Min. of 0.02%
  • Supported crypto: 30+ (BTC, BNB, HT, OKB), 6 (BTC, BCH, LTC)
  • Ease of Use: Intermediate
  • Privacy: High
  • Speed: Slow
  • Fees: Low
  • Reputation: High
  • Limits: High to none

FTX is famous for leveraged tokens as much as 101x. One of its innovative features is Quant Zone where users can generate their own trading bots.

FTX launched a U.S.-based cryptocurrency trading platform called FTX US in May 2020. It is worth noting that FTX US has separate order books from the main FTX exchange. But many features for both the exchanges are overlapping:

  • Ease of Use – PLatforms have an advanced and versatile user interface. They are designed with great simplicity and efficiency. However, beginners might need assistance when browsing the platform for the first time.
  • Privacy – User verification is also needed in both instances.
  • Speed – The exchange only processes wire transfers on weekday evenings. USD wire transfers can take up to one weekday, while non-USD transfers can take even longer.
  • Fees – Trading fees are divided into 6 tiers calculated through your running 30-day trading volume.
  • Reputation – Both enforce web security through the use of SSL certificates that can also prevent DDOS attacks and online hacks.

Limits – Lastly, they manage three tiers of accounts which dictate the limits of users. Tier 3, being the highest, has access to unlimited fiat withdrawals. Thus to enjoy unrestricted services, you must get your account verified.

 PROS  CONS 
Low trading feesOffers highest leverages up to 101xVariety of asset classes and cryptocurrenciesSlow transaction processingDoes not disclose security measures to owners

3. Bybit – With Leverage

Bybit
  • Site: https://www.bybit.com/
  • Country: Singapore
  • Currencies: USD
  • Commission: Varies
  • Supported crypto: 20 (BTC, XRP, USDT)
  • Ease of Use: Advanced
  • Privacy: High
  • Speed: Fast
  • Fees: Low
  • Reputation: High
  • Limits: Low

Bybit is famous for its 100:1 leverage on perpetual futures products. Over the course of years, it has managed to multiply its liquidity, making this a top consideration for some traders.

  • Ease of Use – It has a powerful and well-designed interface that is straightforward to navigate. However, it is filled with advanced options that can be too much to handle for beginners.
  • Privacy – This platform is perfect for anonymity as it does not ask users for any personal information.
  • Speed – The exchange can manage up to 100,000 transactions per second.
  • Fees – Bybit follows a “maker-taker” fee model. When users take liquidity off their books, they will be charged; while when they make liquidity, they will be given rebates.
  • Reputation – Bybit stands on good reputation due to its effective security measures. It utilizes cold storage that acts as a secure inventory of clients’ funds. This exchange also operates in full SSL encryption to evade attacks.

Limits – Withdrawal limits apply because a major portion of funds is in cold wallets. You will wait to get your hot wallet refilled.

 PROS  CONS 
Responsive customer supportIntegrated Asset Exchange allows users to switch between different cryptocurrencies (fees apply)No fiat support

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