Top Cryptocurrency Exchanges: Cryptocurrency markets are constantly growing with an increase in investors and traders timely.

Among evolving markets with market participants, cryptocurrency exchanges have also increased in number for the easy usage of digital currency markets with well-built technology and trust.

Here we shall see the importance of cryptocurrency and its top exchanges ranked by its traded volumes on a daily basis.

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What is Cryptocurrency?

Cryptocurrency is a decentralised digital money which is secured by cryptography based on blockchain technology.

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The three components of cryptocurrency are:-

  • Decentralization:- Decentralization means no governed authority is responsible for any change in a specific cryptocurrency.
  • Cryptography:- It is a method to secure information and communication from unauthorised access by the process of encryption.
  • Blockchain:- In terms of cryptocurrency it is a digital ledger which is accessible among authorised users.

What are cryptocurrency exchanges?

A cryptocurrency exchange is a platform that allows users to exchange, buy and sell various cryptocurrencies with different fiat currencies.

Exchanges can be centralised or decentralised where,

  • Centralised exchanges are regulated by a single authority.
  • Decentralised exchanges are autonomous bodies that work on distributed ledger concepts where users control their digital assets with more privacy.

Top Cryptocurrency Exchanges By Volume

Among different cryptocurrency exchanges present across the world, here we shall see the top cryptocurrency exchanges ranked on the basis of volumes traded.

The top cryptocurrency exchanges by volume are:-

  • Binance
  • BitForex
  • Huobi 
  • Coinbase
  • Bybit

Top Cryptocurrency Exchanges #1 – Binance

Top Cryptocurrency Exchanges - Binance Logo

Binance is a centralised cryptocurrency exchange founded in 2017 by Changpeng Zhao, a well-known investor and software engineer. It provides various services like trading, listing, fundraising, delisting and withdrawing cryptocurrencies.

Binance supports all the cryptocurrencies to trade like Binance coin(BNB) which is its own blockchain-enabled coin and other coins like Bitcoin(BTC), Ether(ETH), Dogecoin(DOGE), etc.

Binance has a global presence with user-beneficial products like a crypto wallet, hassle-free trading, deposits with all the fiat currencies and with lowest service fees. It has a high standard of safety with privacy security trusted by users for its user-based technology.

To trade in Binance users should complete the Know your customer (KYC) process and after successfully registering traders can add funds to the wallet and start trading.

Explore exciting opportunities and exclusive discounts with the Binance Christmas Deals, making your trading experience even more rewarding. It registers a 24-hour spot trading volume of $5 billion.

Top Cryptocurrency Exchanges #2 – BitForex

Bitforex Logo

BitForex is a Hong Kong-based centralised cryptocurrency exchange founded in 2017. It offers services to trade, buy and sell various digital currencies in different fiat currencies.

The platform comes with different products in the digital asset industry by effectively providing a wide range of tools including Spot Trading, Perpetual Futures, Turbo Starter, Financial service, and more to help users trade cryptocurrencies from beginner level to advanced level.

It also assures secure data, privacy and a glitch-free user interface for traders to make informed trades.

With worldwide presence and restrictions in some parts, BitForex has listed all the cryptocurrencies like Bitcoin(BTC), Ether(ETH), Dogecoin(DOGE), etc. 

It has gained its trust in providing satisfactory services to users in cryptocurrency markets and growing in traded volumes day by day.

As it is one of the largest platforms to trade it is ranked at the top by considering its traded volumes. It registers a 24-hour spot trading volume of $2.3 billion.

Top Cryptocurrency Exchanges #3 – Huobi Global

Top Cryptocurrency Exchanges - Huobi logo

Huobi Global is a centralised crypto exchange platform founded in China in 2013. The platform provides spot trading, margin trading, futures trading, derivatives trading, and crypto loans.

It has more than 400 digital currencies and tokens listed which include cryptos like Bitcoin(BTC), Ether(ETH), Dogecoin(DOGE), etc.

Huobi Global users borrow funds with leverage of up to 3x for cross margin and users can also trade crypto futures against Bitcoin and Ethereum contracts with a leverage of up to 200x.

The platform provides a unique gateway for crypto traders with high security and a better user interface with comparative transaction fees for beginner and advanced levels.

As it is one of the largest platforms to trade, it ranks at the top by considering its traded volumes. It registers a 24-hour spot trading volume of $ 1.1 billion.

Top Cryptocurrency Exchanges #4 – Coinbase

Coinbase logo

Coinbase is a crypto trading and investing platform established in June 2012  where users can buy, sell, trade and store cryptocurrencies.

The platform is user-friendly with its high-standard user interface in cryptocurrency and NFT markets with privacy security trusted by users. 

It also has premium access in which the transaction fees are lower with better support and advanced tools for the users.

Coin base allows users to trade in all the cryptocurrencies like Bitcoin(BTC), Ether(ETH), Dogecoin(DOGE), etc. by creating an account after completing the Know your Customer (KYC) process.

Coinbase is available in most countries but restricted in some countries due to regulations. With its trust and services to the users, it went public in 2021 indicating its significant growth and sustainability in cryptocurrency markets.

As it is one of the largest platforms to trade,  it ranks at the top by considering its traded volumes. It registers a 24-hour spot trading volume of $625 million.

Top Cryptocurrency Exchanges #5 – Bybit

Top Cryptocurrency Exchanges - Bybit logo

Bybit is a centralised cryptocurrency exchange platform founded in March 2018 that allows users to trade in all the available cryptocurrencies like Bitcoin(BTC), Ether(ETH), Dogecoin(DOGE), etc. 

The platform offers fast order matching, customer support with a high standard user-friendly interface and privacy security to its all-level users.

The platform is available in most countries but restricted in some parts based on the finance regulations derived.

With its affordable transaction fees, traders can open an account by completing the Know Your Customer (KYC) process. 

Once the registration is successful, traders can deposit in the platform wallet and start to trade in any of the cryptocurrencies listed.

As it is one of the largest platforms to trade, it ranks at the top by considering its traded volumes. It registers a 24-hour spot trading volume of $ 594 million.

Factors to consider in cryptocurrency exchange

When choosing the exchanges to trade in crypto markets here are the certain things to consider.

Security:- It is important to check the track record of security maintained by the exchanges back in time.

Fees:- It is important to select a platform that maintains a good competitive fee on transactions and withdrawals to avoid high fees.

Features:- The platforms should provide all the features the traders require to maintain good trading.

Availability:- The platform should be responsive to the users in all means to seek solutions to problems raised.

In Closing

Risk comes with a reward hence traders participating in crypto markets should be aware of the volatility present and the risks involved in it.

The above-listed top cryptocurrency exchanges offer many services to their users to choose the best markets with the tools to analyse and keep track of your earnings and risks. 

Here the listed exchanges are considered the top-ranked crypto exchanges by volume along with the consideration of trustability score.

As new traders come into the markets the volumes can increase and the ranking can alter from time to time.

Written By Deepak M

By utilizing the stock screener, stock heatmap, portfolio backtesting, and stock compare tool on the Trade Brains portal, investors gain access to comprehensive tools that enable them to identify the best stocks also get updated with stock market news, and make well-informed investment decisions.


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