Table of contents
- Cryptocurrency Exchanges
- Cryptocurrency Exchanges Comparison
- Conclusion – How to choose a Cryptocurrency Exchange?
Cryptocurrency Exchanges
When choosing a cryptocurrency exchanges, the first aspect to take into account is the security of the platform (if there are any regulations applied to the firm), then the possibility of trade the chosen assets, and finally how to optimize the trading performance, thus, the fees is the last one aspect to watch out.
Binance
In 2023, licenses and regulations1 of the Binance firm were authorized for:
- Europe (France, Italy, Lithuania, Spain, Poland, Sweden)
- Kazakhstan
- Middle-East (Abu Dhabi Global Market, Bahrain, Dubai World Trade Center)
- Asia-Pacific (Australia, Indonesia, Japan, New Zealand, Thailand)
- Americas (Mexico, El Salvador)
- Africa (South Africa)
| Type | Informations |
|---|---|
| Deposit and withdrawal | Deposit methods: Depends on the fiat or crypto used (Bank Transfer, Bank Card, blockchain network for cryptos, etc.). Minimum deposit: Depends on the fiat or crypto method used. Deposit fee: Depends on the fiat method used. No fee for crypto deposit. (example for EUR: 1 EUR via SEPA) Withdrawal fee: Depends on the fiat or crypto method used (example for USD: 1 EUR via SEPA). |
| Commissions and fees | Spot – 0.1% for maker – 0.1% for taker Futures – 0.020% for maker – 0.050% for taker Account – No account inactivity fee |
| Assets | More than 500 crypto-assets. Includes : Market spot and futures, staking, NFTs, Trading Bot, Farming, Dual Investment |
| Platform | Web Trading Platform – User-friendly – Clear fee report – Security: Multifactor authentication – Customizability Mobile Application for Apple and Android |
| Tools & resources | – Demo account – Social Trading with CopyTrader – Forum |
| Customer service | Not used, but still, it is present: https://www.binance.com/en/support |
Binance summary
- Regulated for most majority of countries: UK, US, EU, etc.
- Basics methods for deposit and withdrawal, with a presence of fees for deposit and withdrawal, but low fees depending on the method.
- Low commissions and fees for trading and can be reduced if you are a regular trader.
- Diversification in crypto investment with Staking, NFT, market with SPOT and FUTURES, etc.
- The platform is a top for trading, and above all it is user-friendly.
ByBit
In 2023, licenses and regulations of the ByBit firm were not authorized for:
- United States
- United Kingdom
- Mainland China
- Singapore
- Canada
- North Korea
- Cuba
- Iran
- Uzbekistan
- Syria
- Etc.
| Type | Informations |
|---|---|
| Deposit and withdrawal | Deposit methods: Depends on the fiat or crypto used (Bank Transfer, Bank Card, blockchain network for cryptos, etc.). Minimum deposit: Depends on the fiat or crypto method used. Deposit fee: Depends on the fiat method used. No fee for crypto deposit. (example for EUR: 0.93 EUR via SEPA) Withdrawal fee: Depends on the fiat or crypto method used. |
| Commissions and fees | Spot – 0.1% for maker – 0.1% for taker Futures – 0.020% for maker – 0.055% for taker Options – 0.02% for maker – 0.02% for taker Account – No account inactivity fee |
| Assets | More than 300 crypto-assets. Includes : Market for SPOT, FUTURES & Options, Staking, Crypto Mining, ETFs and Trusts, etc. |
| Platform | Web Trading Platform – User-friendly – Clear fee report – Security: Multifactor authentication – Customizability Mobile Application for Apple and Android |
| Tools & resources | – Forum – Education – Demo trading account |
| Customer service | Not used, but still, it is present: https://www.bybit.com/en-US/help-center/ |
ByBit summary
- Regulated for some countries, mainly in the EU.
- Basics methods for deposit and withdrawal, with a presence of fees for deposit and withdrawal, but low fees depending on the method.
- Low commissions and fees for trading.
- Diversification in crypto investment with Staking, NFT, market with SPOT, FUTURES and Options, etc.
- The platform is a top for trading, and above all it is user-friendly.
Coinbase
In 2023, licenses and regulations2 of the Coinbase firm were authorized for:
- United States
- EU
- United Kingdom
- Etc.
| Type | Informations |
|---|---|
| Deposit and withdrawal | Deposit methods: Depends on the fiat or crypto used (Bank Transfer, Bank Card, blockchain network for cryptos, etc.). Minimum deposit: 1.00 of digital currency in your local currency ($1 for example) Deposit fee: Depends on the fiat method used. No fee for crypto deposit. (example for EUR: 0.15 EUR via SEPA) Withdrawal fee: Depends on the fiat or crypto method used (example for USD: free via SEPA). |
| Commissions and fees | Spot & Futures – 0.040% for maker – 0.06% for taker Account – No account inactivity fee |
| Assets | More than 150 crypto-assets. Includes : Market for SPOT, FUTURES & Options, Staking, NFTs, etc. |
| Platform | Web Trading Platform – User-friendly – Clear fee report – Security: Multifactor authentication – Customizability Mobile Application for Apple and Android |
| Tools & resources | – Learn – Forum |
| Customer service | Not used, but still, it is present: https://help.coinbase.com/en |
Coinbase summary
- Regulated for most majority of countries: UK, US, EU, etc.
- Basics methods for deposit and withdrawal, with a presence of fees for deposit and withdrawal, but low fees depending on the method.
- Medium commissions and fees for trading and can be reduced if you are a regular trader.
- Diversification in crypto investment with Staking, NFT, market with SPOT and FUTURES, etc.
- The platform is practical for investing.
AscendEX
In 2023, licenses and regulations of the AscendEX firm were authorized for:
- United States
- EU
- United Kingdom
- Etc.
| Type | Informations |
|---|---|
| Deposit and withdrawal | Deposit methods: Depends on the fiat or crypto used (Credit Card or Blockchain network transaction). Minimum deposit: Depends on the fiat or crypto method used. Deposit fee: No fee for a deposit. Withdrawal fee: Depends on the fiat or crypto method used. |
| Commissions and fees | Spot – 0.1% for maker – 0.1% for taker Futures – 0.040% for maker – 0.06% for taker Account – No account inactivity fee |
| Assets | More than 150 crypto-assets. Includes : Market for SPOT, FUTURES |
| Platform | Web Trading Platform Mobile Application for Apple and Android |
| Tools & resources | – Social Trading with CopyTrading – Forum – Education |
| Customer service | Not used, but still, it is present: https://ascendex.com/en/support |
AscendEx summary
- Regulated for a reduced part of countries.
- Basics methods for deposit and withdrawal, with a presence of fees for withdrawal, but low fees depending on the method.
- Medium+ commissions and fees for trading and can be reduced if you are a regular trader.
- Medium diversification in crypto investment with spot and futures market.
- The platform is a basis for investing without trading.
Cryptocurrency Exchanges Comparison
| Broker | Regulation | Deposit and withdrawal | Commissions and fees | Assets | Platform | Tools and ressources | Customer service | Promotion |
|---|---|---|---|---|---|---|---|---|
| Binance | Most of the countries | Low fees depending on the fiat or crypto method used. | – Low fees that can be reduced for advanced trader – No inactivity fee | Diversification for cryptos investment | – Web Trading Platform – Mobile app on Android and Apple | – Social resources – Demo account – Education | Not used | Earn commission on every trade |
| ByBit | Mainly in EU | Low fees depending on the fiat or crypto method used. | – Low fees that can be reduced for advanced trader – No inactivity fee | Diversification for cryptos investment | – Web Trading Platform – Mobile app on Android and Apple | – Social resources – Demo account – Education | Not used | $10 Bonus |
| Coinbase | Most of the countries | Low fees depending on the fiat or crypto method used. | – Medium fees that can be reduced for advanced trader – No inactivity fee | Diversification for cryptos investment | – Web Trading Platform – Mobile app on Android and Apple | – Social resources – Education | Not used | None |
| AscendEX | Reduced regulations | Low fees depending on the fiat or crypto method used. | – Medium fees that can be reduced for advanced trader – No inactivity fee | Reduced diversification | – Web Trading Platform – Mobile app on Android and Apple | – Education | Not used | Earn commission bonus |
| Editor Choice | – Binance – ByBit – Coinbase | – eToro – Trading 212 | – Binance – ByBit | – Binance – ByBit – Coinbase | – Binance – ByBit – Coinbase – AscendEX | – Binance – ByBit | Not used | – Binance – ByBit – Ascendex |
Conclusion – How to choose a Cryptocurrency Exchange?
When choosing a cryptocurrency exchange, the aspects to consider are related to their services, the costs about commissions and fees, the securities available, and most important, the assets available to accommodate to your investment objectives.
Accordingly to these considered aspects for choosing a cryptocurrency exchange, the choice of a broker for stock trading is also based on them. Thus, for those searching a platform for stocks trading, another article has been written and describe how to choose an online broker: Best Online Brokers for Stock Trading in 2023