It’s safe to say that cryptocurrency came, saw, and conquered the investment market.
What was once a very controversial investment asset became one of the most sought after digital assets of all times within a few years. Today, investment in digital currency is growing as the digital asset continues to perform well.
However, the lack of information about the safety and security of some cryptocurrency exchanges still holds back many investors. We bring you a complete guide to the best crypto exchange websites that are safe and easy to use and offer some of the best features that attract investors.
Here you will find websites that value and ensure privacy, safety, and security combined with ease of use and excellent service.
Best Overall: Binance
Founded in 2017, Binance started out with a focus on altcoins but later expanded its services, and now the website offers more than 500 cryptocurrency pairs. The site does offer some fiat/cryptocurrency pairs, but most of the pairs are between cryptocurrency.
Binance offers some of the most competitive rates around the world. It is ideal for both beginners and seasoned traders alike as it is the best cryptocurrency exchange in the world as it has the highest trade volume, making it our winner.
- Type of crypto – Supports 467 cryptocurrencies
- Trade fees – 0.1%/0.1% – lowers as trade volume increases
- Wallet – Trust Crypto Wallet
- Low fees – Trade fees on Binance varies by trade volume. The highest fee that Binance charges is 0.1% for both the maker and taker side. As the trade volume increases, the fees lowers. The lowest fee is 0.02% for both sides. You can also get a further 25% discount if you use BNB, Binance Native Cryptocurrency.
- Various cryptocurrencies – Though Binance started out with a focus on altcoin, the website now offers trading in more than 467 cryptocurrencies and around 600 cryptocurrency pairs. Beginners and even advanced cryptocurrency traders can all find ample variety to choose from.
- Advanced charting system – the charting system allows you to keep track of all your investments and their performance. You don’t just get simple graphs but also get access to other performance measurement tools and advanced charting systems that help you make future investment decisions.
- Various deposit methods and currencies – Binance allows you to make deposits using fiat currency. The platform currently accepts more than 20 fiat currencies from across the world, including both renowned currencies like the US dollar and Euro and some less used currencies like Polish złoty, Israeli Shekel and more. You can use a debit/card transfer or wire transfer the money to make the deposit, among other options.
- May be a bit too technical for beginners – If you are looking for an exchange website to get acquainted with the cryptocurrency world, this may not be it. Binance is a little more advanced and ideal for those with at least basic knowledge of the cryptocurrency exchange market.
- Binance does not operate in a few states in the United States, which is one of its major drawbacks.
- Binance saving account – if you’ve got some idle funds lying around, you can invest them in a savings account. Binance saving account offers varying interest rates in both fixed and flexible savings accounts.
- Smart Pool – if you don’t have enough funds to make a substantial investment, you can contribute to a larger mining group called the Binance Smart Pool. It combines funding from various miners to make investments in the most profitable cryptocurrency at the time and then splits the rewards.
- Staking – if you don’t possess the technical knowledge to stake the coins yourself, you can avail of the staking service Binance offers. You can sit back and earn returns without having to worry about the technicalities.
- Liquid swap- Binance Liquid Swap is a decentralized liquid swap service similar in function to Uniswap. It allows users to provide liquidity or use Liquid swap to trade coins at a minimal fee.
- Crypto loans – You can also get Cryptocurrency loans through Binance in the form of various stable cryptocurrency coins.
- Visa card – with the Binance visa card, you can make payments using cryptocurrency even in places that only accept fiat. Your crypto balance will be converted to fiat currency at no additional fees.
Binance is the best crypto exchange for those who want to get the most out of the crypto investment.
It offers a simple user interface, is easy to use and provides access to a wide range of cryptocurrencies and trade pairs with an advanced charting system to help you make the best investment decision.
Other services by the platform such as Binance visa card, saving account, staking service and more all make it an ideal option for serious traders.
Runner Up: Bybit
Bybit is a peer to peer (P2P) trading platform that operates in many countries across the globe. It allows users to trade using a leverage of up to 100X.
The platform places great emphasis on the security and safety of the users. It conducts maintenance on the go constantly enhancing the safety and security of the platform.
Bybit has a very clear and transparent operating mechanism making it ideal for beginners. It has a fair pricing mechanism and provides a transparent trading mechanism. Traders also get access to various API tools to help them make the right investment decision.
- Type of Crypto – 9
- Trade Fees – 0.075% -0.025%
- Wallet – HD Cold Wallet
- Excellent UI/UX – Bybit places great emphasis on improving user experience and simplifying the user interface. The website makes multiple changes to its UI/UX each year to ensure users get the best possible experience. The platform offers clear explanations for each step and also sets up stop losses almost immediately after establishing a clear position.
- Unlimited Withdrawals – There is no cap on how many trades or withdrawals users can make each day. Unlike its competitors, Bybit allows you to trade in various cryptocurrencies and not just in Bitcoin.
- No KYC – Many platforms require the Know Your Customers identification process, which is quite extensive and time-consuming. Bybit has other reliable security checks in place, eliminating the need for KYC.
- Up to 100X leverage – Not all exchange platforms offer the ability to leverage up to 100x, which is substantially higher than most others.
- Reliable and Highly Secure – The platform has a two-way authentication system ensuring optimal security. It also scored a B- on the Mozilla Observatory test putting it among some of the most secure exchange websites out there.
- Unregulated – Bybit products and services are not governed under any legal regulatory body as yet, which takes away from its authenticity.
- Very few currencies – Bybit has a very limited range of cryptocurrencies and trading pairs on the website, which limits its scope and restricts its client base.
- 100,000 transactions per second – Bybit’s operating system allows for 100,000 transactions per second as per claims by the company. The company doesn’t have a user base vast enough to test the theory, but if true, then this is a very impressive feature.
- Cold wallet storage – to ensure the safety and security of the cold wallet storage, Bybit conducts three manual transactions daily.
Bybit is ideal for those who want to engage in leveraged trading. The platform allows user to take both long and short term positions. It also allows them to take part in perpetual contracts.
However, keep in mind that it is a derivatives trading platform and does not allow for physical trading of or transfers of Bitcoin.
- Limited cryptocurrency options – the platform only offers 18 cryptocurrencies, making it unideal for advanced traders.
- Instable system – multiple users have complained about the system randomly going offline, which can be disastrous for the user as the cryptocurrency market is very volatile.
- Personal information required – you will have to fill out quite a lot of personal information before you can create an account and begin trading. The lengthy process makes the platform unappealing for many.
- Flexa Partnership – If you want to spend your cryptocurrency from your wallet, you can, as Gemini partners with Flexa, which allows you to pay at various outlets and brands using your crypto wallet.
- Access to nifty – The nifty marketplace is a recent product offered by Gemini. Here, you can browse through and purchase various digital art pieces. These digital art pieces can later become valuable digital assets that you can store in the nifty marketplace as well. You can even use them as a form of security later on.
If you are looking for a super-secure trading platform, then this is the website for you. The platform’s security system is in compliance with multiple security standards and thus is ideal for those who don’t want to take risks. It also offers some of the most well-known and well-[performing cryptocurrencies for all the investors who want to play safe.
Best Crypto Trade Service: HaasOnline
Monitoring the cryptocurrency market 24/7 can prove challenging even for very seasoned traders. HaasOnline is a crypto trading bot that not only buys and sells crypto but also performs market analysis to make educated investment decisions at a lightning-fast pace.
The crypto trading bot also keeps a check on the current market trends and keeps the user informed of the performance of each cryptocurrency the platform offers.
Its fast speed, secure system and various performance analysis tools make it an excellent option for those who want some free time on their hands.
- Type of Crypto – 21
- Trade Fees – none
- Wallet – external wallet
- Automated decision making – The bot makes educated decisions on behalf of the user, ensuring they get the best possible results as deduced through performance evaluations.
- Lightning-fast speed – The crypto market is very volatile, and thus, the lightning-fast speed is a major plus for investors.
- Performance metrics – The bot is constantly analyzing the market and currency performance keeping the user informed and making the best possible decisions for them.
- Works with multiple exchanges – where handling multiple exchanges can be challenging and difficult for the investor, especially if they have a diverse investment portfolio. HaasOnline crypto bot can manage multiple exchanges at once, providing the best possible automated trading services for the investor.
- Optimal safety – there is a reason why HaasOnline is the best automated trading bot. The system is not only functional but also extremely secure and has a specialized security team backing it up.
- Optimized for none – The automated trading bot is neither perfect for beginners nor for advanced users and seems to cater best to those in the middle. Advanced users need a few more tools, and beginners might have trouble understanding how to use it. Despite the shortcoming, it is still the best available option for all three.
- Advanced trading options – the user can customize the bot to suit the function they want to derive out of the platform.
- Customer Support – The customer support is extremely responsive, and the live chat option ensures the user gets real-time support when needed, which is essential when trading in such a volatile market.
If you are looking for an automated trading bot that can help give you some free time, HaasOnline is the one for you. It is ideal for new traders who need a little extra help but is also ideal for advanced users who need a competent bot to manage their investment.
Runner up: Cryptohopper
Cryptohopper focuses more on ease of use and simplifying the whole cryptocurrency trading process. No matter what cryptocurrency you trade in or how many exchanges you place your funds in, Cryptohopper can manage it all for you.
It is a simple-to-use trading bot for advanced crypto traders. Here, you also get access to advanced trading charts and access to an internal chat box to indulge in investment discussions with other traders.
You can also buy various bot strategies and templates to ensure your bot makes excellent investment decisions.
- Type of Crypto – 975
- Trade Fees – >=0.15% (varies)
- Wallet- yes
- A full set of tools – With Cryptohopper, you get access to investment strategies, shorting, copy trading, automatic and simulated trading, and stop-loss trailing options as well.
- Simulated trading – Whether you are an advanced investor or a beginner, you can use the simulated trading option to learn the basics and get acquainted with the market or to test new strategies.
- Compatible with leading exchanges – the bot is compatible with all leading cryptocurrency exchanges, including Binance, Coinbase and more.
- Flexibility – from beginners to advanced traders, everyone can find strategies and tools to suit their investment game plan. The bots are flexible and have access to a plethora of resources, making them adaptable to different market situations.
- It is a paid-for service and is priced a little higher than some other alternatives.
- Automated bot features- Whether you are operating in the bull market or the bear market, the bot has automated features that help it adapt to all situations.
- Programmable bot – you can even program the bot to use your strategies so that it doesn’t use general strategies but operates using a proper gameplan.
If you are looking for a platform that offers a little more control over the trading but yet allows you to take time off, then Cryptohopper is the one for you.
You can program your bot to mimic your strategies and movements and make decisions based on your knowledge and experience.
Crypto Exchange Websites FAQ
How Do I Convert Crypto to Cash?
The exact process for converting crypto to cash varies by crypto exchange. Some exchanges offer in-house conversions allowing you to turn crypto to cash instantly.
Others have a lengthy process that involves transferring the cryptocurrency to your bank account or exchanging crypto with fiat and then transfer it to your bank account.
Which Crypto Exchange is Safest?
Gemini is by far the safest crypto exchange, as its entire operating model revolves around providing the most secure and the best crypto exchange USA.
The platform meats multiple safety and security standards and regulations, backing up its claims of being extremely secure.
Which Crypto Exchange has the Lowest Fees?
Binance has the lowest fees out of all crypt exchanges.
It is also the best crypto exchange as it has the highest trade volume and offers a wide range of cryptocurrencies and currency pairs.
How Do I Cash Out Crypto Without Paying Taxes?
There are three ways to cash out crypto without paying taxes.
- You can buy crypto in your IRA (individual retirement account)
- Buy it with your life insurance policy
- Buy crypto as a resident of Puerto Rico
You can also give up your US citizenship if you don’t want to pay taxes on crypto gains, but that is a very drastic measure, and we do not recommend it.
Do Crypto Exchanges Report to the IRS?
You have to report all your losses and gains to the IRS, so yes, most crypto exchanges report to the IRS.
The only exception might be Bybit, as it is a regulated exchange. It provides a P2P derivatives trading platform and is one of the best decentralized crypto exchange from our guide.
In our mini crypto exchange reviews, we have tried to provide a clear idea of which platform is ideal for different levels of investors.
If you are a beginner, you may want to start small with Gemini.com. It offers immense value and excellent features and tools, especially for fresh investors.
If you are a seasoned trader who wants access to a variety of cryptocurrencies and currency pairs, then Binance is the one for you. It is one of the best crypto exchange websites for 2020. It is simple and easy to use, making it a dream to use for many investors.
Bybit is ideal for those who love the idea of leveraged trading. The platform allows you to leverage your long and short-term positioning by up to 100X. The risk-takers may enjoy the leveraging and other features offered by the platform.
Investors who have their hands in all sorts of investment assets can greatly benefit from HaasOnline or Cryptohopper. These trading bots offer immense value to the user.
HaasOnline can take over the management of your investments and use marketing analytics to make decisions for you. Cryptohopper is a programmable bot that can use your knowledge and experience to mimic your strategies, provided you train it right.
Our guide, best crypto exchange websites 2020 can only provide you information and review on these websites. You will have to visit them and try them out to find one that suits your requirements.