Largest crypto exchanges in the World
Cryptocurrency has come a long way since its humble beginnings as a fringe technology, with its market capitalization surpassing $1.4 trillion as of 2023. As the crypto market continues to grow, it's no surprise that more and more crypto exchanges are popping up as well. But which ones have the largest trading volume? How many coins do the world's biggest crypto exchange platforms support? And how can you choose the right exchange for you? This guide has all the answers.
Start Trading Crypto Now with ByBit!Does Trading Volume Matter in Crypto Trading?
Trading volume is one of the most important metrics used to measure and evaluate crypto exchanges. It measures the number of traders participating in a particular market, as well as the total amount of crypto traded over a period of time. In essence, trading volume provides an indication of how active a crypto exchange or market is.
Having a high trading volume is important for crypto traders, as it can help them to secure the best liquidity and avoid slippage. Liquidity refers to the ability of a market to accept large trades without causing drastic price movements or large spreads. This means that when placing a trade on an exchange with high trading volume, the order will be filled quickly and at a reasonable price without the risk of slippage.
The largest crypto exchange platforms often have the highest trading volume. They also typically offer lower commissions, allowing traders to save money on each trade. Additionally, most of the world's largest crypto exchanges also offer a variety of trading options, such as futures and margin trading, as well as different order types.
List of 10 Biggest Crypto Exchanges in the World (Spot)
With nearly 600 crypto exchanges in the world, it can be tricky to figure out which one to use. One way to narrow down the choices is to look at the most established and popular crypto exchanges. Here is a list of the ten biggest crypto exchanges based on their trading volume, number of supported coins, and other factors.
The biggest spot crypto exchanges in the world by trading volume are
| Exchange | Average trading volume per day |
|---|---|
Binance |
$8,4 bln |
Coinbase |
$1,15 bln |
Kraken |
$434 mln |
KuCoin |
$395 mln |
ByBit |
$291 mln |
The biggest crypto derivatives exchanges in the world are Binance, OKX, ByBit, KuCoin and BTCEX.
Binance
Binance is the world's largest crypto exchange by trading volume, currently at $8,405,850,336. Founded in 2017, Binance was created with the idea of providing crypto traders and users with a secure platform optimized for their needs. By offering advanced order types, unparalleled liquidity, and a world-class matching engine, Binance has quickly become the go-to crypto exchange for many crypto enthusiasts.
Binance currently supports over 383 coins. Traders have access to 1661 markets, including crypto-pairings with fiat currencies such as the US dollar, Euro, and Japanese Yen. Also, Binance offers margin trading and futures trading services for users who want to maximize their crypto exposure.
Another reason Binance sits at the top of crypto exchange ranking lists due to its high liquidity score of 935 and its robust security measures. Binance also provides a crypto wallet, crypto lending services, and a crypto savings account that allows users to save up their crypto assets in a secure manner. As of 2023, Binance receives over 15 million weekly visits.
Coinbase
Founded in 2012, Coinbase is an American-based crypto exchange platform that has become one of the top crypto exchanges in the world. As of this writing, Coinbase has $1,152,805,759 in total 24h volume and 237 supported coins. Its average liquidity is 791.
One of the top reasons Coinbase is well-known and loved by many crypto traders is due to its user-friendly interface, advanced order types, and competitive trading fees. Coinbase also provides a Pro version of the platform that allows users to trade with margin and access futures markets.
Coinbase boasts superior security measures and has never been hacked since its beginning in 2012. Security features such as two-factor authentication, state-of-the-art encryption, and proactive security notifications are some of the reasons Coinbase is seen as one of the most reliable crypto exchanges in the world. It's no wonder 108 million users trust Coinbase with their crypto assets.
Kraken
Like Coinbase, Kraken is an American-based crypto exchange. The platform was launched in 2011, making it one of the top 5 crypto exchanges that have been in the market for a long time. Kraken is well-known for its high levels of liquidity, advanced order types, and competitive fees.
Kraken currently supports 219 coins and grants traders access to 718 markets. Its 24-hour trading volume is $434,951,599, and its average liquidity score is 752. Each week, the exchange receives 978,767 visitors.
Security-wise, Kraken is also top-notch. Users can expect top-grade encryption, two-factor authentication, and anti-phishing measures. Kraken also offers exceptional customer support and has a vibrant community of over 6 million users, in addition to many helpful resources.
Bybit
While Bybit is a relatively new crypto exchange platform, it's managed to gain significant market share since its launch in 2018. The platform is based in Singapore and currently serves people from all over the world, with an estimated 10 million users in 160 countries. Currently, the platform supports trading on 338 coins, including BTC, ETH, XRP, and EOS. Its average liquidity score is 567.
Bybit’s 24-hour trading volume is $291,357,292.The platform provides several features that help traders manage their risks, such as margin trading, hedging, and stop-limit orders. The platform is also known for its excellent customer service, with support staff available 24/7 to answer users' questions or concerns.
KuCoin
KuCoin is a world-top 10 crypto exchange platform founded in 2017 in Seychelles. Its users have steadily grown to over 20 million. Each week, the platform receives over 1.9 million visits.
KuCoin also offers a wide selection of coins to trade, with over 776 supported coins. Its 24-hour trading volume is $395,270,029, and its average liquidity score is 535.
KuCoin offers some unique features that cater to both beginners and experienced traders, such as margin trading and futures contracts. It also offers a secure platform with encrypted wallets and multi-factor authentication.
Bitstamp
Based in Luxembourg, Bitstamp was founded in 2011, making it one of the oldest crypto trading platforms on this list. Its user base has grown to over 4 million, and the platform is available in 159 markets. Its 24-hour trading volume is $106,861,232, and its average liquidity score is 573.
Currently, Bitsnap supports 71 coins and offers a range of trading options. It also provides users with multiple funding methods like credit/debit cards, bank transfers, and crypto-wallets. In terms of security, Bitsnap boasts top-notch measures like two-factor authentication, full data encryption, and various cyber threat protection systems.
Bitfinex
Founded in 2012, Bitfinex is a popular crypto exchange platform headquartered in Hong Kong. The exchange receives an estimated 225,67 visits each week. Initially, the platform dealt with Bitcoin exchange but has since evolved to include a range of other coins. Its average liquidity is 557.
Bitfinex supports 191 coins and 414 markets, with a 24-hour trading volume of $118,107,076. Bitfinex provides its clients with an array of tailored trading features and order types that are designed to meet their needs. The platform provides a vast array of useful services, including crypto-trading, OTC trading, and peer-to-peer margin trading for users worldwide.
OKX
This Seychelles-based crypto exchange platform was founded in 2017 and is known for its fast transaction speeds, advanced order types, and competitive fees. OKX currently supports 355 coins and provides a range of trading options, including spot and options trading. Users also access derivatives trading, from margin to futures to perpetual swaps.
OKX’s 24-hour trading volume is $574,625,769, and its average liquidity score is 558. Each week, the site receives well over 1.5 million visits. Security is also a priority for OKX, with multiple measures in place to keep user funds safe. Mandatory multi-signature authentication, anti-phishing code, and email verification are all used to ensure users have peace of mind when trading on the platform.
What Are the Biggest Derivative Exchanges in the World?
Another popular type of crypto exchange platform is a derivative exchange. Derivative exchanges provide investors with the opportunity to trade derivatives, such as futures and options contracts, using Bitcoin or other digital assets for collateral. Here are the biggest derivative exchanges based on trading volume, open interests, and number of markets.
Binance
Binance once again tops the list as the biggest derivative exchange in the world. The platform provides access to a range of derivatives, including futures, options contracts, and perpetual swaps for Bitcoin and several other cryptocurrencies. Binance’s total 24-hour trading volume is close to $21.5 billion, and its open interest is over $55 billion. Traders have access to 230 markets.
Binance Fees ReviewOKX
This Seychelles-based crypto exchange platform currently supports derivatives trading, including spot and options trading, as well as margin, futures, and perpetual swaps for a range of coins. Its 24-hour trading volume is approximately $7.88 billion, and its open interest is close to $966 million. The platform provides access to 191 markets.
Is OKEx (OKX) Safe? Is it Scam or Legit?Bybit
This Singapore-based crypto derivatives exchange has a 24-hour trading volume of over $4.7 billion and an open interest of over $3.37 billion across 193 markets. It provides access to perpetual futures contracts for Bitcoin, Ethereum, and other coins.
ByBit Fees ReviewKuCoin
Since August 2017, KuCoin has provided access to derivatives trading, such as futures and options. The platform currently supports different coins and provides users with access to 123 markets. Its total 24-hour trading volume is over $1.06 billion, with an open interest of almost $1.6 billion.
KuCoin Fees ReviewBTCEX
While it was launched in June 2021, BTCEX has already made a name for itself as one of the biggest crypto derivative exchanges. The Australia-based crypto derivatives exchange provides access to 55 markets. Its total 24-hour trading volume is over $13.7 billion, with an open interest of over $18.7 billion.
What Are the Cheapest Crypto Exchanges in the World?
Among the most important considerations for investors looking to trade cryptocurrencies is the fees charged by exchanges. When choosing an exchange, it’s important to consider the costs associated with trading, as these can add up over time.
Currently, Bybit and Binance.US offer the cheapest spot trading fees in the world. Bybit doesn’t charge any fees on spot trades, while Binance.US offers free Ethereum and Bitcoin trading in America.
Biggest Crypto Exchange by Supported Coins
A common feature among top crypto exchanges is that they support a wide range of coins. Currently, KuCoin supports the most coins, with more than 776 listed on the platform. Among the most notable coins supported by KuCoin are Bitcoin, Ethereum, Litecoin, and Dogecoin. What makes this special is that traders can gain access to new and emerging coins that are not available on other crypto exchanges.
What Is the Biggest DEX Crypto Exchange?
Decentralized exchanges, or DEXs, are quickly becoming more popular with crypto traders as they provide an additional level of security. The biggest DEX exchange currently is dYdX, which currently provides access to 10 markets. dYdX has a total 24-hour trading volume of over $832 million. With this crypto exchange platform, you can do orderbook trading.
How to Choose a Crypto Exchange
The kind of crypto exchange you choose will play a huge role in determining your trading success. To enable you to make an informed decision, we have identified five tips that will help you choose the best crypto exchange.
Assess Regulation
Check the regulatory environment to ensure the platform and its users follow appropriate laws. Different countries have their own regulations for crypto trading, so make sure the exchange operates legally in your country of residence.
Visit the exchange’s website to understand its regulatory compliance and research any public reports about the platform. Credible exchanges should also publicize their contact information, provide an audit trail and implement KYC/AML processes.
Check Fees
It is important to understand the fees associated with trading on any exchange platform. You should research both withdrawal and trading fees, as well as other hidden fees such as deposit charges or conversion rates. Some crypto exchanges favor low-cost trading and lower their fees for higher volume traders, so compare prices across different platforms to get the best deal.
Check for any additional fees that may be applied to different types of trades and payments, as well as any discounts available.
Research Trustworthiness
One of the most important factors when selecting an exchange platform is trustworthiness. The crypto market can be volatile, so it is essential to pick a reputable platform with a good track record and proven security protocols.
Check to see if the platform is registered with a financial regulator and look for customer reviews to assess user satisfaction. Look at the exchange’s history and experience, as well as its security protocols. Ensure that the platform has two-factor authentication and other features such as cold storage wallets or multi-signature accounts.
Analyze the Number of Supported Coins
For investors, having options is key. Make sure the exchange offers support for a wide range of coins, including those that you may want to invest in the future. Consider how many traditional currencies are accepted and if the platform supports stablecoins or digital assets such as tokens and security tokens.
Don't forget to check fiat currency support, as some exchanges only offer cryptocurrency trading. The more options available, the better. For example there are five cryptocurrencies and two fiat currencies on the platform BitFlyer.
Consider the Interface and Usability
The user interface should be simple, intuitive, and easy to use. Research the platform at length before you commit to it, taking into account features such as charting tools or order books. Look out for any glitches that may occur with deposits or withdrawals, as well as how quickly the platform processes transactions.
Summary
As cryptocurrencies become increasingly popular, many traders are turning to crypto exchanges for trading and investing. The top exchanges can have staggering trading volumes and offer a multitude of different coins besides incredible security protocols. That said, not every exchange will suit your needs perfectly, so it's important to thoroughly research each one before investing. By following the tips outlined in this guide, you can make an informed decision on the best crypto exchange for your trading needs.
FAQ
What are the two biggest crypto exchanges?
The biggest crypto exchanges in the world are Binance and Coinbase
What are the 3 biggest crypto?
The top 3 biggest crypto are Bitcoin, Ethereum and USDT
What is the best crypto to exchange?
The choice of an exchange is strictly individual, each cryptocurrency exchange has its advantages and disadvantages, the exchange should be chosen based on your trading strategy. But TU experts believe that the best cryptocurrency exchange is Bybit.
Is crypto exchange trading safe?
Crypto exchange trading can be safe if you pick a reputable platform and research it thoroughly before investing. Always check the regulatory environment to ensure your exchange operates legally in your country of residence, and assess the security protocols in place.
Why is trading volume important when selecting a crypto exchange?
Trading volume is important because it helps to determine liquidity levels, which affect the price of a coin. Higher trading volumes can provide better pricing and more opportunities for traders.
What are the top crypto exchanges in terms of trading volume?
The top crypto exchanges in terms of trading volumes are Binance, Coinbase, Kraken, and Bitfinex.
What fees should I look out for when choosing an exchange?
You should research both withdrawal and trading fees, as well as any hidden fees such as deposit fees or processing fees. Additionally, many exchanges offer discounts for higher volume traders, so compare prices across different platforms to get the best deal.
Methodology for compiling our ratings of crypto exchanges
Traders Union applies a rigorous methodology to evaluate crypto exchanges using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Exchanges are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Exchanges are assessed based on the variety, quality, and features of platforms offered to clients.
Extra services. Unique value propositions and useful features that provide traders with more options for yield generation.
Other factors like brand popularity, client support, and educational resources are also evaluated.
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Team that worked on the article
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.