The 7 Best Crypto Exchanges in 2025 Ranked and Compared

In this article, we go over the best crypto exchange platforms for different trading needs. Of course, not all exchanges provide the same ease of use, crypto coverage, reserve security, or advanced trading options.

To help, we’ve reviewed and compared a bunch of them and picked out the ones that excel in these categories. For example, Margex is extremely user-friendly and provides AI-driven price-squeezing protection, and MEXC has the widest crypto support and pre-market trading options.

Keep reading to learn more about how these and other top exchanges can enhance your crypto trading experience.

The Top Crypto Exchanges at a Glance

Before diving into our crypto exchange reviews, here’s a quick TL;DR of our top crypto exchanges for beginners, advanced traders, and NFT enthusiasts:

1. Margex — Easiest-to-Use Exchange for Trading Orders and Price Alerts
2. MEXC — Best Crypto Exchange for Daily Token Giveaways and Low Trading Fees
3. OKX — A Platform With AI Agent Integrations and an NFT Marketplace
4. BloFin — Beginner-Friendly App With Demo Trading and Signal Bot
5. Binance — Leading Crypto Exchange With Several Trading Bots and NFT Staking
6. ByBit — A Platform With Simplified Options Trading and its Own Virtual Assistant
7. BingX — An Exchange With Airdrop Guides and Zero Spot Trading Fees for BTC/USDT

The Best Cryptocurrency Exchange Platforms Reviewed

Picking the best crypto exchange is a matter of finding the platform that best suits your crypto trading, financial growth, and security needs. So, let’s take a closer look at what our top picks can provide and how they compare.

1. Margex — Easiest-to-Use Exchange for Trading Orders and Price Alerts

Margex is our top pick for the best crypto exchange overall due to its user-friendliness and comprehensive trading features. For starters, it has one of the most convenient and intuitive trading terminals and provides a rich knowledge base with video tutorials and crypto-buying guides for beginners.

Margex further simplifies crypto trading for anyone, new or old to exchanges, thanks to its convenient automations, like:

• Copy trading — Automatically follow the strategies of the most successful traders. Each time a trader makes a profit, you get a percentage return.
• Trading orders — Includes stop market, limit, Stop Loss (SL), and Take Profit (TP) orders to maximize your trading efficiency and minimize risks.
• Alerts — Set automatic notifications to monitor the top 10 market caps and trading volumes, ETH gas prices, and the price movement of any cryptocurrency.

And, of course, you get all the other crypto trading features you want, including instant crypto swaps, staking, and margin trading with a USD order size. You can trade over 55 crypto assets and enjoy up to x100 leverage on $BTC, $ETH, and $BNB/USD pairs.

This combination of high leverage or major pairs and risk management tools like stop-loss orders makes Margex the best crypto exchange for day trading. It also boasts some of the most competitive fees with no hidden costs.

Finally, Margex stands out for its security. All your assets are stored in offline storage with robust access segregation, so nobody can touch your funds. The exchange’s MP Shield System also uses machine learning to identify and stop suspicious trading activities and protect you against price squeezing.

Visit Margex for more information on their services and welcome rewards.

Pros

• Intuitive and beginner-friendly
• Trade automations, including copy trading
• Up to x100 leverage on $BTC, $ETH, and $BNB/USD pairs
• Low trading and funding fees
• Cold offline storage of user funds
• Price squeezing protection

Cons

• Fewer fiat payment options than other platforms
• Fewer supported tokens compared to other exchanges

2. MEXC — Best Crypto Exchange for Daily Token Giveaways and Low Trading Fees

MEXC has a rather unique offer as it combines the services you’d expect from a trading platform with an ongoing airdrop program. In 2024, for example, the platform held 1,800+ airdrop events, distributing close to $108M worth of USDT to its users.

Their giveaways include both mainstream and new tokens. Most recently, the platform gave away $800,000 XTER, the airdrop ending on January 10th. But if you’re not into airdrops, MEXC has a lot more going on for it, including one of the most expansive asset selections.

With over 3,000 spot pairs and 600 futures contracts, you’re looking at the best exchange for crypto traders seeking diversity and niche investment opportunities.

Then there’s the fact that MEXC boasts some of the best fees, including a 0.05% fee for all spot trades, a 0.04% futures taker fee, and a 0.01% futures maker fee. It’s easy to see why MEXC makes a convenient, cost-efficient platform for trading across multiple chains.

They also have a combination of basic and advanced trading options, plus security failsafes to make your trading experience simple, enjoyable, and stress-free. Some of these include:

• Cold wallet storage — Offline storage of users’ assets to prevent cybersecurity risks.
• Demo trading — Risk-free trading practice for newcomers looking to test trading strategies before investing.
• Copy trading — For copying experienced traders’ strategies and earning a profit with reduced risks.
• Pre-market trading — Early access to the best new cryptocurrencies before official listings.
• Ample insurance fund — A $3B USDT reserve with $300M going towards futures risk management ensures compensation for trade losses exceeding your margin. The platform’s reserve rates for $BTC, $ETH, $USDT, and $USDC also exceed 100%.

To get started, you can fund your account with 20 fiat currencies, including not only USD and EUR but also KRW, NTD, and JPY. This makes MEXC the best crypto trading platform for crypto investors in East Asia.

Visit MEXC to get started or learn more about their offer.

Pros

• Monthly airdrops
• 20 fiat funding options
• Over 3,000 spot pairs and 600 futures contracts
• Demo trading and pre-market trading are available

Cons

• Limited payment options (only card or bank transfer)
• Less intuitive than other competing apps

3. OKX — A Platform With AI Agent Integrations and an NFT Marketplace

What if you wanted a comprehensive trading platform with all the basic features plus Decentralized Applications (dApps)? Well, OKX is the best crypto exchange for that. It lets you connect to dozens of apps across 80+ blockchains, with options for liquid staking, DeFi, GameFi, and NFT marketplaces.

They already have some AI-focused integrations for advanced traders, including cookie.fun (an index of the AI agents market) and ai16z (an AI investment DAO). You can use these to stay up to date with the latest AI agent projects and research trading strategies. OKX even has its own marketplace where you can:

• See the top NFT collections with total volume, floor price, and best offers
• Browse NFTs across 38 chains like Ethereum, Bitcoin, and Solana
• Track NFT sales, offers, and transfers
• Buy NFTs at the lowest listing price or make an offer
• Mint your own NFT for free and deploy smart contracts

Besides its more niche investment tools and opportunities, OKX has many of the same features as MEXC and Margex. These include trade orders, copy and demo trading, and crypto interest plans (with an estimated APR of 9.14% for $SOL).

As for specific assets, the platform covers thousands of currencies, including Layer-1 (L1) and Layer-2 (L2) coins, as well as some of the best meme coins and AI tokens. You can see the most traded pairs across different categories under the ‘spot’ trading menu.

Finally, OKX has comprehensive security measures in place to protect your assets. For starters, they keep 95% of all funds in an offline cold wallet system, making them virtually immune to online threats and blockchain vulnerabilities.

The hot wallet storage is equally robust, using semi-offline servers and RAM-only storage for private keys, giving you an extra layer of protection in case of a breach. Your funds are also insured through a $30.8B reserve, with reserve rates exceeding 100% for top cryptos like $BTC and even $DOGE.

Visit OKX to sign up for free and start trading.

Pros

• Lots of dApp integrations
• NFT marketplace with the option to mint your own
• Easy to browse thousands of tokens across categories
• Copy and demo trading available
• Reserve rates over 100% for top coins

Cons

• Fiat payment options differ by region (might need a VPN)

4. BloFin — Beginner-Friendly App With Demo Trading and Signal Bot

BloFin is pretty similar to other platforms we’ve covered so far, except that they’re actively working on simplifying futures trading with their bots — a nice feature bound to help newcomers and seasoned investors alike.

Currently, the platform has a Signal Bot that delivers you the latest trading signals and lets you place orders automatically. You can also trade futures using a Time-Weighted Average Price (TWAP) Bot.

With this, you split large orders and schedule trading times to ensure the best execution price with minimal slippage, making BloFIn the best US crypto exchange for whale trades. And you won’t be missing any of the other must-have automations and trading tools, like:

• Demo trading — Lets you try your spot and futures strategy risk-free
• Trigger orders — Automatically executes spot and futures orders at a pre-set price
• Trailing stop orders — Limits your losses while keeping your trades open for long position profits
• Copy trading — This lets you copy the top traders with 90D ROIs of over 100% with the click of a button

The platform covers hundreds of cryptocurrencies across major categories, including L1, L2, memes, AI, DeFi, and more. However, their earning program only lets you collect interest for $BTC, $ETH, and $USDT, with APYs ranging from 0.10% to 5.5%, lower than competing platforms like OKX.

Still, they have competitive transaction costs: 0.02% on maker and 0.06% on taker fees for futures. Another point where BloFin stands out is its security measures. The platform uses Fireblocks for its cold storage custody, which ensures both data safety and liability insurance coverage for traders’ funds.

If BioFin sounds like the best exchange for you, you can fund your account with USD, EUR, or any other local currency. The platform also supports several popular payment methods, like debit and credit cards or ApplePay.

Visit BloFin’s official page to make a free account.

Pros

• Signal and TWAP bots
• Offers demo and copy trading
• Advanced trailing stop orders
• Competitive fees
• Offers Fireblocks fund coverage

Cons

• Lower APYs for earning programs compared to competitors

5. Binance — Leading Crypto Exchange with Several Trading Bots and NFT Staking

If you’ve been into crypto for a while, you’ve heard about Binance. It’s one the biggest crypto exchanges in the world with over 250M active users, its own BNB chain, and one of the most expansive exchange services, which includes:

• NFT staking — For Bored Ape NFT holders, staking your NFTs gives you 21% APR and daily ApeCoin rewards.
• 1:1 reserve backing on 34 cryptocurrencies — Full coverage of user funds across all major cryptocurrencies, including $BTC, $ETH, $BNB, and $SOL.
• 9 trading bots — Includes a basic Spot Trading bot, a Rebalancing Bot for long-term position trades, and a Futures TWAP bot for large orders.
• One-Cancels-the-Other (OCO) orders — Combines limit and SL orders for advanced risk management and maximal profit during market volatility.

Because of these well-rounded features, Binance is easily the best exchange for pro-crypto traders looking to automate complex trading strategies. Furthermore, Binance’s popularity makes it a go-to place for trading major and new cryptos alike.

The platform already covers thousands of crypto pairs, and most new crypto projects rush to list their tokens on the platform for added legitimacy. If there’s a new hot token guaranteed to explode, you’ll likely find it listed on Binance.

Another perk you might like? You can use Binance on all major operating systems across mobile and desktop devices. It’s the best crypto exchange app for cross-platform compatibility.

Finally, Binance lets you fund your account through several channels. You have the usual debit cards, e-wallets, and bank transfers. But you can also use any fiat currency to buy directly from other crypto users through the platform’s P2P portal.

Visit Binance to try the app today.

Pros

• Multiple trading bots
• P2P trading for any fiat-crypto pair
• Cross-platform compatibility on any major OS
• 1:1 reserves on over 30 major cryptocurrencies
• Advanced trading automations (including OCO)
• Copy trading on both futures and spot trades

Cons

• Limited features for users without KYC
• Long verification process
• Not beginner-friendly
• Slow customer support

6. ByBit — A Platform with Simplified Options Trading and Its Own Virtual Assistant

ByBit has grown considerably throughout 2024 and has become the second-largest crypto exchange by trading volume. The platform is undoubtedly attracting a lot of users with its efforts to simplify trading for beginners and pros alike.

Like other platforms we’ve covered, ByBit has all the basics you’d already expect from a crypto exchange but also stands out with a few perks, like:

• Instant crypto swaps with zero fees
• Demo and copy trading (with the option to copy up to 10 traders)
• P2P trading with over 600 payment methods and zero fees
• 1:1 reserves for 40 top cryptocurrencies (including a 113% reserve ratio for $BTC)

Then, you got options trading for $BTC, $ETH, and $SOL, with all contracts settled in $USDC. ByBit makes it easier to explore and buy options than competing platforms like Binance, so they’re a lot more accessible if you’re looking to up your trading strategies.

Their ‘Explore Options’ page does all the work for you and gives you the most popular pre-set options ordered by trading volume and 24-hour gains. You can start trading right away without worrying about setting any expiration dates or strike prices.

Just browse and buy an option, then wait for the expiration date. If the price’s in your favor, you can buy or sell at a profit. If not, you have no obligation to trade at a loss.

The platform also lets you simplify your trading experience through several trading bots for spot and futures. But the coolest by far is TradeGPT, the personal AI investment assistant — a great addition for new crypto traders.

If you’re curious about the latest crypto market trends or need a specific trading concept explained, the assistant will give you a short summary and even direct you to more in-depth articles in ByBit’s knowledge base.

Their fees are also similar to those of other platforms we covered. On spot trades, non-VIP traders have maker-and-taker fees of 0.1%. Futures and options trading have a 0.02% maker fee. Finally, there’s a 0.05% taker fee on futures and a 0.03% taker fee on options.

Visit ByBit now to learn more about their services.

Pros

• Copy and demo trading available
• Zero fees on crypto swaps and P2P trades
• Easy-to-use AI assistant and trading bots
• Pre-set options trading contracts

Cons

• Mandatory KYC to fund your account and use the exchange
• Slow customer support

7. BingX — An Exchange with Airdrop Guides and Zero Spot Trading Fees for BTC/USDT

BingX is a great exchange for traders seeking the newest investment opportunities. The platform keeps you up to date with the newest token listings and trending pairs. You even get detailed guides on how to join new, (sometimes) free crypto airdrops for a chance to earn tokens.

You can also capitalize on early opportunities by using the pre-market trading service to spot-trade new tokens before they’re listed. For example, BingX users could buy $L3 tokens at around 0.02134 $USDT in July 2024, making a 357.26% profit when the token was later listed for $0.09758.

But if you’re not into airdrops or pre-market trading, you can always trade or convert across the other 800+ cryptocurrencies on the exchange. You get all the automations you need across spot, derivative, and future trading, including advanced ones like:

• Trailing stops orders
• Post only orders
• TWAP orders
• OCO orders

The best part is that some pairs, like BTC/USDT and XRP/USDT, have zero spot-trading fees. All other spot pairs come with a 0.1% fee. As for futures trading, non-VIP users have a 0.02% maker fee and a 0.05% taker fee.

And if you don’t want to worry about any of that complex trading wizardry, you can also copy-trade one of BingX’s 17,000+ elite traders. Unlike competing platforms with lower limits, BingX allows up to 12,000 copiers to follow the same trader, upping your chances of following the best accounts.

The exchange also provides 100% proof of reserves, with reserve ratios exceeding 120% for $BTC. The other assets include $ETH (136%), $USDC (142%), and $USDT (135%).

Visit BingX to sign up and start trading.

Pros

• Pre-market trading opportunities
• New airdrop guides
• Over 800 cryptocurrencies
• Advanced trading automations
• Zero spot-trading fees on BTC/USDT and XRP/USDT

Cons

• 1:1 reserves only for $BTC, $ETH, $USDT, and $USDC
• Limited fiat support

Comparing the Best Crypto Trading Platforms

The top crypto exchanges we’ve covered have similar offers. To make your choice easier, we put together a head-to-head comparison of their crypto support and fees:

What is a Crypto Exchange?

Additionally, top crypto exchanges also hold insurance funds to protect user assets from hacks or unforeseen losses. Besides regular exchange trading (also known as spot trading), where you buy crypto at the current market price, crypto exchanges also provide other trading services.

You can also use crypto exchanges for trading futures and options. Some exchanges also let you earn interest on your crypto holdings.

Types of Crypto Exchanges and Trading Platforms Explained

Based on the way they work and the services they provide, crypto exchanges can fall into the following categories. Note these categories overlap for most crypto exchanges.

Centralized Exchanges (CEXs)

These exchanges are operated by a centralized and regulated third-party organization. The third party is responsible for managing user accounts and controlling private wallet keys, which means CEXs rely on custodial wallets.

CEXs also typically collect KYC information to ensure legal compliance.

Decentralized Exchanges (DEXs)

A decentralized exchange is the polar opposite of a CEX. Instead of transactions going through a third party, a DEX uses smart contracts to allow direct P2P trades between users. Since users are in direct control of their funds and keys, DEXs are fully non-custodial.

They also typically don’t require KYC, which makes them more private. For more, here’s a guide on the best no-KYC crypto exchanges.

Derivative Exchanges

These are the most common types of crypto exchanges where users can speculate on price movements and trade different types of contracts like futures and options. As you’re trading contracts, not the actual cryptocurrency in question, you don’t have to own the asset to make a derivative trade.

Margin Trading Exchanges

These exchanges let you trade cryptocurrency through borrowed funds (known as margins). In other words, you can trade larger positions without putting down all the money upfront, potentially earning higher returns. These margin trades typically occur in the spot market.

Lending Exchanges

Lending exchanges let users lend or borrow crypto. In the case of lending, users can deposit their crypto and sign up for earning programs to receive interest over time. For loans, users must pledge collateral, usually another cryptocurrency, and repay interest.

How to Choose the Best Cryptocurrency Exchange Platform

With so many crypto exchanges available, identifying the best one might seem daunting. To keep things simple, consider the following when choosing one:

• Fees — The most competitive platforms generally have spot trading fees of around 0.1% or lower and futures trading fees of around 0.05% or lower.
• Payment methods — Whether you want to deposit fiat through a debit card, Revolut, bank transfers, or an e-wallet, make sure the platform supports your desired method.
• Cryptocurrency support — Top exchanges support most of the major assets, but if you’re into leading altcoins or new meme tokens, make sure they’re listed on the exchange first.
• Liquidity — You want a platform with a high trading volume and activity. This ensures speedy transactions at optimal costs, even for large orders.
• Security — Data and asset security measures like good encryption, cold-wallet asset storage, and full reserve coverage of users’ funds ensure your money stays safe.
• Ease of use — Making an account and using basic trading tools should be easy, whether you’re a seasoned trader or not.
• Reputation — Longstanding platforms with a good track record and no data breach incidents are desirable for obvious reasons. Besides safety, they also attract larger user bases and liquidity.

We’ve also taken into account these factors when putting together our list of the best crypto exchanges, so the top picks here check all the boxes.

How to Get Started on a Crypto Exchange

If you’ve never used a crypto exchange before, here’s a short step-by-step guide on how to get started. We’ll be using Margex as an example, but the process is similar across all exchanges.

Step 1: Visit the Official Website and Sign Up

Head over to the official Margex website and find the sign-up button. You can find it on the homepage above the cut or in the top right corner.

Next, type in a valid email address and a password and hit ‘Sign up.’ You’ll then be asked to verify your account with the code sent to your email.

Step 2: Fund Your Account

Once you’ve verified your email, you’re going to be logged in and ready to buy crypto. Click on the ‘Go to Trade’ button on the main homepage and find the ‘Wallet’ menu at the top of the screen.

In your wallet, click on the ‘Buy crypto’ button to start funding your account. You’ll then be taken to a checkout page.

In the top left box, choose the cryptocurrency you want to buy and the crypto network through which you want to complete your purchase. Buying crypto through their native chains (for example, buying $BTC through the Bitcoin network) ensures faster and cheaper transactions.

Next, copy the crypto wallet address in the box below. You’ll need this during checkout.

In the top right corner, above the FAQs, you’ll find a scroll-down menu with the onramp options. For this, we chose Uniramp. Once you’ve selected an onramp option, you’ll be taken through the next checkout steps.

Step 3: Complete Your Checkout and KYC Verification

Follow the steps in the checkout menu. First, select the fiat currency and type in how much you want to spend. Then, select your payment option under ‘Payment.’ In the next step, paste the wallet address you copied and click ‘Continue.’

You’ll then be asked for your billing details and personal data. You’ll have to provide a full name, residence, a selfie, and a photo of your ID. This step constitutes your KYC verification, and it’s necessary to ensure the platform complies with local regulations and anti-money laundering (AML) laws.

Step 4: Start Trading

Now that you’ve topped up your wallet, you can start trading. Find the trading terminal by clicking ‘Go to Trade’ on the Margex homepage.

If you’ve never used a trading terminal before, you can also read through the platform’s knowledge base. Click on the top right menu button on the homepage and head to Learn > Quick Start Guide to get a rundown of the trading features and how to use them.

The Best Crypto Exchanges — Summary

Crypto exchanges are the go-to place to buy, sell, or convert cryptocurrencies for fiat or other digital assets. The best crypto exchanges offer robust asset security, high liquidity, competitive fees, and user-friendly interfaces.

They should also support a wide range of cryptocurrencies and provide an array of advanced trading options like futures contracts, copy trading, and automated trade orders.

Examples include Margex (easy-to-use basic trade orders and copy trading), MEXC (over 3,000 spot trading pairs and 600 futures contracts with low maker fees), and Binance (most advanced trade orders and 1:1 reserves on over 30 cryptos).

However, the perfect exchange depends on your specific needs. This is not financial advice — always DYOR to ensure a platform meets your individual trading and security requirements.

FAQs

1. Which crypto exchange platform is best for beginners?

Margex and ByBit are among the best crypto exchange platforms for beginners, thanks to their user-friendly interfaces, demo and copy trading options, and rich knowledge bases and guides.

2. Are crypto exchanges safe?

Yes, crypto exchanges are safe, particularly the popular platforms that have stood the test of time, like Binance, Margex, or ByBit. These platforms have 1:1 reserves for top crypto assets, and they provide cold wallet storage of their users’ funds to prevent common CEX risks like hacking.

3. Which crypto exchange offers the lowest fee?

Overall, MEXC has the lowest fees of all top crypto exchanges across trades. It stands apart for having the lowest fees for futures (0.01% maker and 0.04% taker fees) and a competitive 0.05% fee for all spot trades.