Slowly and steadily, cryptocurrencies are getting more attention all over the world. In recent years, cryptocurrencies have become more prominent among online traders. Many business heads and traders invested their money in popular cryptos such as Bitcoin, Ethereum, Litecoin, and other crypto coins. Thus, the demand for cryptocurrency exchange platforms is always on the higher end.
If you are new to this concept, you definitely will have a question on your mind about crypto Exchanges businesses. Entrepreneurs who have adopted to invest in building Cryptocurrency trading platforms have earned massive profits. More and more startups are looking to dive into this field and make high revenue.
There is no doubt that day by day the number of cryptocurrency exchange platforms is increasing. However, only a few have been able to make a difference in the Cryptocurrency market and have sustained for a longer period. In this blog, We at Coinsclone provide you with the answer to the top Cryptocurrency Exchanges in 2023.
What are Cryptocurrency Exchanges?
Cryptocurrency Exchanges can be defined as a platform where users can buy, sell, or trade Cryptos. In short, it can be specified as the best place to buy Cryptocurrency and the platform contains various trading features for users. Users can get extensive benefits by trading on these Exchanges while the admin charges a commission fee.
Crypto Exchanges can be divided into three main categories
- Centralized Crypto Exchanges
- Decentralized Crypto Exchanges
- Hybrid Crypto Exchanges
Among the three types, Centralized Crypto Exchanges have the most number of users. The Centralized exchanges are controlled by authority and they have various ways to generate revenue. This is the reason why most entrepreneurs are looking to build a Centralized Exchange and increase their revenue. In fact, most of the top Cryptocurrency Exchanges are also Centralised.
Before we reveal the top 10 Cryptocurrency Exchanges in 2023, let’s see a small overview of how to categorize them in the market.
How we categorize the top Cryptocurrency Exchanges
It’s quite obvious that revenue is the major factor when categorizing the top Cryptocurrency Exchanges. Apart from that, the exchange’s growth over the years, the market cap, trading volume, and liquidity define which exchanges are at the top positions. Besides, each Crypto Exchange has its own pros and we have categorized them according to these aspects.
Top 10 Cryptocurrency Exchanges in 2023
Having seen a brief explanation of Crypto Exchanges, let’s move straightaway into the top Crypto Exchanges in 2023.
Binance
Binance is the topmost prominent cryptocurrency exchange across the globe. It is the world’s largest crypto trading platform based on volume trading. Binance was first founded in 2017 and is headquartered in China. Binance arrived from the combination of two words, binary and finance. In recent years, this crypto exchange has had monstrous growth by serving almost all countries across the world. In the beginning stage, Binance started with a centralized cryptocurrency exchange to expand its business.
Recently, Binance launched a decentralized exchange that supports more than 140+ cryptocurrencies. They have their own crypto coin in the market and have named it ‘Binance Coin’. If the traders use a Binance Coin for trading, then this exchange does not charge any trading fees. They have more than millions of active crypto users per month.
| Headquarters: Malta Founded in: 2017 Founders: Changpeng Zhao, Yi He |
Pros:
- low trading fees compared to other exchanges.
- Stable crypto trading Mobile Applications.
- More than 80+ Altcoins are available for trading.
Coinbase
Coinbase is one of the most popular cryptocurrency exchanges in the industry. Here you can easily trade, buy, and sell cryptocurrencies in a secure manner. It was first launched in 2012 and is headquartered in the United States. Currently, Coinbase is supported in more than 40+ countries all over the world. In this exchange, crypto users can trade more than 20+ crypto coins in a hassle-free manner.
They have their own crypto wallet for storing and receiving cryptocurrencies. In Coinbase, you can instantly purchase popular cryptos using debit/credit cards, bank transfers, and other payment methods.
| Headquarters: San Francisco, California, US. Founded in: 2012 Founders: Brian Armstrong, Fred Ehrsam |
Pros:
- High Liquidity.
- User-friendly and intuitive interface.
- Instant transfer between users.
- finest mobile wallet services.
Huobi
Huobi is another gem in the Crypto Industry with extraordinary features for its users. The platform provides all the essential products and services they have listed separately for users. More than 500 cryptocurrencies are accepted on the platform with an option to trade anywhere and it comes under the Centralized category.
| Headquarters: Seychelles Founded in: 2013 Founders: Leon Li, Du Jun |
Huobi has its native token, named Huobi Token. The Huobi token has a market cap of $616,704,002 and it is on the rising scale day by day. It remains a highly used platform mainly because of easy accessibility and user-friendliness.
Pros:
- High liquidity in the exchange
- Affordable trading fee.
Paxful
Paxful is the most popular and trusted peer-to-peer cryptocurrency exchange platform for trading bitcoin. First, they named Easybitz but later changed the name to Paxful. So Paxful exchange was first launched in 2015. In this exchange, users can buy, sell, and exchange prominent crypto coins in a hassle-free manner.
This exchange supports more than 300+ payment methods to buy bitcoin and other altcoins with fiat currencies. So, Paxful exchange allows their global users to buy altcoins at any payment method. The Paxful user interface is very intuitive compared to other crypto trading platforms. This exchange has top-grade security systems to avoid hacking and crypto scams.
| Headquarters: Newyork, United States Founded in: 2015 Founders: Ray Youssef, Artur Schaback |
Pros:
- Secure payment transaction.
- User-friendly interface
- Supports more than 300+ payment methods.
- Simple and faster trading
- 100% secured escrow system
Bitstamp
Bitstamp is the world’s longest-standing exchange website. It is a decentralized crypto trading platform. It was first launched in 2011 and is headquartered in Slovenia. In 2013, they moved to the UK and later on moved to Luxembourg in 2016.
In the bit stamp exchange, users can buy, sell, and trade any digital assets. They can buy and sell all the popular cryptocurrencies that are available in the marketplace. They provide fast, secure, and simple transactions for their global crypto traders. Bitstamp supports some popular cryptocurrencies in their peer-to-peer trading platform. Such as
- Bitcoin
- Bitcoin cash
- Ethereum
- Litecoin
- Ripple(XRP)
| Headquarters: London, Luxembourg, Slovenia Founded in: 2011 Founders: Nejc Kodric, Damijan Merlak |
Pros:
- Bitstamp charges only 0.25% as a service fee
- Easy and simple for trading. Also, there are no withdrawal limits
- Trading liquidity is high
- 24*7 dedicated user support
- This exchange provides multi-language support
Kraken
Kraken is one of the finest US-based cryptocurrency exchange platforms. It was first discovered in 2011 and is headquartered in the United States. Here, users can trade crypto coins instantly in a hassle-free manner. It is a highly secure exchange platform with high-end security systems. This exchange provides excellent liquidity with an average trading volume of about 10-12 million euros daily.
Kraken is supported in some popular countries such as the European Union, Japan, Canada, the United States, and other popular countries.
| Headquarters: San Francisco, California, United States Founded in: 2011 Founders: Jesse Powell |
Pros:
- Fastest trading for users.
- Low trading fees
- Supports a wide range of crypto coins and fiat currencies.
- Kraken allows bitcoin margin trading up to 5x leverage.
Poloniex
Poloniex is one of the largest American-based cryptocurrency trading platforms. This exchange was first launched in 2014. Being a popular crypto exchange, their services can be accessed from anywhere around the globe. This exchange supports a wide range of cryptocurrencies that is available in the crypto market. Here you can exchange, buy, and sell bitcoins and other altcoins instantly in a secure manner.
Since the exchange runs on blockchain technology, you can perform a vast amount of crypto transactions instantly. Also, while analyzing the currency Cryptocurrency market, Poloniex has got most of the users’ requirements on their platform which helps massively.
| Headquarters: Wilmington, US Founded in: 2014 Founders: Tristan D’Agosta |
Pros:
- They provide good customer support. They are also well-responsive even on social media platforms.
- Poloniex supports more than 70+ digital assets.
- Performs faster trading.
CoinMama
Coinmama is an Israel-based crypto trading platform and one of the popular exchanges across the world. This exchange is specialized in buying bitcoin by using fiat currencies. It allows users in almost many major countries to buy a wide variety of cryptocurrencies. They provide the finest customer support through email. In this exchange, some traders feel that the trading fee is slightly high compared to other crypto exchanges. However, they have enough features in the platform to cover the fee.
| Headquarters: European Union Founded in: 2013 Founder: Nimrod Gruber |
Pros:
- Supports major types of payment methods such as credit/debit cards, bank transfers, and other payment methods.
- Supports in most of the major countries.
- Transaction is fast
BitMEX
BitMEX is one of the high-volume trading cryptocurrency exchange platforms. It stands for Bitcoin Mercantile Exchange. It has the finest intuitive interface so it grabs more investors for this exchange to perform trading. This exchange accepts payments only through bitcoin.
BitMEX uses multi-signature wallets and funds are stored in offline storage which is more secure than online storage. The exchange has some minimum requirements for trading bitcoins and other cryptocurrencies.
| Headquarters: Seychelles Founded in: 2014 Founders: Arthur Hayes, Ben Delo, Samuel Reed |
Pros:
- High liquidity
- high-end security wallet applications.
- Manual processing for all withdrawals
- User-friendly interface.
- Advanced live chart and tools.
Bitfinex
Bitfinex is another largest popular cryptocurrency exchange platform. This exchange supports more than 15+ cryptocurrencies in its trading platform. Unlike Bittrex and Poloniex exchanges, this exchange allows their global crypto traders to trade using USD.
Bitfinex charges a trading fee for every deposit and withdrawal. This crypto exchange is one of the oldest traditional platforms with tightened security features. such as two-factor authentication, advanced API encryption, email encryption, and other security systems.
| Headquarters: Hong Kong Founded in: 2012 Founders: Giancarlo Devasini, Raphael Nicolle |
Pros:
- Competitive fees
- High liquidity exchange
- Advanced trading features
Summing up
From the trader’s point of view, these exchanges have been a great platform to trade digital assets and make money. However, these trading exchanges in turn have generated lucrative revenue for the owners through the massive trading volume and large user visits. If you are a trader or a user, you can definitely turn into a Crypto exchange owner and make much more profits with low investments.
Coinsclone has been helping a lot of entrepreneurs to start a Crypto exchange business quickly and in an inexpensive way. You can hire our first-quality error-free White-label Cryptocurrency exchange software to launch your own Crypto exchange business within a few days at an affordable price. Coinsclone will provide you with the finest White label crypto exchange software with advanced feature-packed modules according to your business needs.
