Top 10 Best Crypto Exchanges

Are you looking to buy or sell cryptocurrencies but unsure which exchanges are trustworthy, offer low fees, and make it easy to withdraw to personal wallets? Join BitcoinVN News as we present the top 10 best crypto exchanges worldwide to help you make the best choice!

Top 10+ best crypto exchanges of 2024

1. BitcoinVN – Ranked #1 in crypto exchanges in Vietnam

Leading the list of the top 10 most reputable crypto exchanges in Vietnam is BitcoinVN, a platform with over 10 years of experience. BitcoinVN is the first and oldest crypto exchange in Vietnam, serving a growing user base across the country.

Currently, BitcoinVN offers the ability to buy and sell over 80 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Users can conveniently trade crypto in Vietnamese Dong (VND) and withdraw cash quickly and securely.

• Low transaction fees: Starting at just 0.2% on trade volume, BitcoinVN offers some of the lowest fees.
• Multiple exchange options: Besides online trading, BitcoinVN operates a network of Bitcoin ATMs and OTC services, making it easy to trade crypto in varying amounts.
• Staking services: BitcoinVN offers staking, allowing users to earn passive income effortlessly.
• Led by Mr. Dominik and the co-founding team, BitcoinVN has also been an angel investor in Neutronpay and has supported events such as Bitcoin Indonesia and Bitcoin Frankfurt. Additionally, BitcoinVN is the official distributor for Ledger and Trezor cold wallets.
• BitcoinVN maintains transparency, with verification on Trustpilot and numerous positive user reviews. The platform also has robust security measures to protect user assets and offers 24/7 customer support.

Start trading crypto on BitcoinVN today!

2. Bitget – A trusted crypto exchange, available in 150+ countries

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

3. Kraken

Ranked second among the top 10 best crypto exchanges is Kraken – one of the oldest crypto exchanges in the U.S.

• Founded in 2011, during the “stone age” of cryptocurrency.
• Kraken offers a wide range of reliable cryptocurrencies with competitive transaction fees. 
• It’s also one of the few U.S. – based exchanges that provides margin trading along with a suite of advanced trading tools, including complex order types and futures trading options.

4. Gemini

Ranked third on the list of trusted crypto exchanges, Gemini is suitable for crypto traders of all skill levels, from beginners to experienced users.

• The platform offers a wide range of features, including the unique Gemini Earn program that allows users to earn interest on their crypto holdings, as well as the Gemini Credit Card. 
• Gemini is available in all 50 U.S. states and is committed to strict compliance with U.S. regulations.

5. Crypto.com

Crypto.com is a trusted exchange for people who want to trade a variety of cryptocurrencies. 

• This crypto platform offers unique deals and rewards for users with a Crypto.com Visa card.
• Users can also use Crypto.com’s utility token, Cronos (CRO), to pay for transaction fees on the platform and enjoy other benefits.

6. Kucoin

Kucoin is one of the “major players” in the world of cryptocurrency. 

• It is a popular crypto exchange known for its large list of altcoins and low transaction fees.
• The platform is based in the Seychelles and attracts more and more users from Asia, Europe, the Middle East, and Africa.

Although users in the U.S. can access and use the KuCoin platform, it is not currently licensed to operate in the United States.

7. Coinbase

Coinbase is a well-known name in the cryptocurrency exchange world.

• The Coinbase exchange offers over 200 types of cryptocurrencies, meeting the needs of most investors looking to join the market.
• This platform stands out for its easy-to-use interface, making single or recurring crypto transactions simple.
• Customers interested in features like advanced technical analysis can consider using Coinbase’s Advanced Trade product, which offers high security.

8. Bitfinex

Bitfinex is a cryptocurrency exchange owned and operated by iFinex Inc., registered in the British Virgin Islands. Established in 2012, Bitfinex is known for its high trading volume, liquidity, and wide variety of trading pairs.

• The platform supports trading over 200 cryptocurrencies, 400 trading pairs, more than 60 perpetual contracts, and allows margin trading with high liquidity.
• Bitfinex also offers margin lending services with competitive interest rates, helping traders increase their potential profits.

9. Binance

Binance is one of the largest cryptocurrency exchanges in the world by trading volume.

• Founded in 2017 by Changpeng Zhao, Binance offers a wide range of services that allow users to buy, sell, trade, and store cryptocurrencies.
• The Binance ecosystem now includes Binance Exchange, Labs, Launchpad, Info, Academy, Research, Trust Wallet, Charity, NFT, and more.

10. Bitstamp

Founded in 2011, the crypto exchange Bitstamp provides a safe and easy-to-use platform that allows users to buy, sell, and trade Bitcoin, Ethereum, and other altcoins.

• Bitstamp holds 50 licenses and registrations worldwide.
• It is the first cryptocurrency exchange to receive a Payment Institution License in the EU, holds a BitLicense in New York, and undergoes regular audits by a global Big Four auditing firm.

11. bitFlyer

• Founded in 2014, around the same time as BitcoinVN.
• bitFlyer is a Japanese cryptocurrency exchange with over 3 million users worldwide and a total trading volume exceeding 180 billion euros in 2021.
• This exchange is licensed to operate in the EU, the US, and Japan, and claims to meet the highest security standards in the industry.

Criteria for choosing a safe and reliable crypto exchange

Security 

Security is the first and most important factor when choosing a high-quality crypto exchange. To evaluate if a crypto exchange is secure and trustworthy, consider the following:

• The exchange should offer two-factor authentication (2FA).
• It should have strong data encryption capabilities.
• Exchanges should encourage customers to withdraw funds to personal wallets rather than holding funds on the platform.
• It should have a solid security history, with no record of hacks or fraud.

Ideally, choose a well-established exchange with a proven track record over several years.

High trading volume

An important factor in ranking the top best crypto exchanges is having a high trading volume for the currency pairs you want to trade. This ensures better liquidity, making it easier to buy and sell cryptocurrency without issues.

Transparency of information

• Choose cryptocurrency exchanges that provide clear guides, articles, and official information to help users understand the market and trade safely.
• It’s especially important to prioritize exchanges in Vietnam that are transparent about key people, such as the managers and CEO. Having this information is crucial for accountability if needed.

*Note: Avoid crypto exchanges that hide information about their CEO or founders. If issues arise, it can be difficult to seek help or recover lost funds.

Other factors

In addition to the core criteria mentioned above, consider these factors when choosing a crypto exchange for the best experience:

• Transaction fees: Reliable exchanges clearly list their fees upfront, helping you manage your budget. In contrast, low-quality exchanges may hide fees to profit from customers.
• User interface: Trusted exchanges usually have a clean, easy-to-use interface. If an exchange has a complex layout with hard-to-understand details, think carefully before using it.
• Customer service: Reliable exchanges provide attentive customer support, ensuring you have a smooth experience.

3 things to keep in mind when trading on a crypto exchange

• Always transfer your funds to a personal wallet and keep your private key safe with a cold wallet to have full control over your money. Avoid keeping funds on the exchange to reduce the risk of being hacked.
• Participating in staking on a crypto exchange means you’re entrusting your money to the exchange. If the exchange is attacked, your entire balance could be lost. Therefore, only stake an amount of money you can afford to lose.
• For traders dealing with large amounts, it’s best to choose exchanges that offer OTC (Over-the-Counter) trading to ensure the transaction is secure and well-protected.

Be sure to carefully research different exchanges to choose the platform that suits your needs and trading style. Consider factors like fees, security, regulations, and features before making a decision to ensure safe and efficient trading.

Pros and Cons of 3 common types of crypto exchanges

There are 3 common types of cryptocurrency exchanges: centralized exchanges, decentralized exchanges, and P2P exchanges. Each type has its own advantages and disadvantages.

Centralized Exchanges (CEX)

A centralized crypto exchange (CEX) is an online platform that acts as an intermediary, connecting buyers and sellers to facilitate trades. CEX serves as the central authority, holding users’ cryptocurrencies and managing buy/sell orders between parties.

Pros:

• Easy to use: User-friendly interface, making it simple to buy and sell cryptocurrency.
• High liquidity: It’s easy to find buyers/sellers because many people are participating.
• High security: CEXs have improved security in recent years by storing most of their customers’ assets offline and purchasing insurance to cover potential cryptocurrency losses in case of a hack.

Cons:

• Lack of decentralization: This goes against the decentralized nature of cryptocurrency.
• KYC requirements: Users must provide personal information to prevent money laundering and fraud, similar to opening a bank account.
• Risk of hacking: Since CEXs hold the cryptocurrencies traded on their platforms (at least temporarily to process transactions), there’s an increased risk of hackers stealing assets.

Decentralized Exchanges (DEX)

A decentralized crypto exchange (DEX) is an online platform that allows users to buy, sell, and trade cryptocurrency directly with each other without needing an intermediary.

Pros:

• Decentralization: DEX does not rely on any middleman, reducing the risk of hacks, scams, or price manipulation.
• High security: DEX typically uses smart contracts to automate transactions, reducing human involvement and improving security.
• Greater control: Users of DEX can freely choose which cryptocurrencies to trade and set their own trading prices. DEXs do not have complicated KYC/AML regulations like CEXs, helping protect user privacy.
• Transparency: Transactions on DEX are recorded on the blockchain, ensuring transparency and auditability. Users can easily track their transaction history and account balances.

Cons:

• Difficult to use: The interface is more complex than CEX and has limitations in currency conversion.
• No fiat currency support: Not all DEXs allow users to deposit USD and convert it into cryptocurrency.
• Low liquidity: It can be hard to find buyers/sellers, especially for less-traded cryptocurrencies, which may make it difficult to buy or sell quickly at the desired price.

P2P Exchange

A P2P (Peer-to-Peer) exchange is a model for trading cryptocurrencies directly between buyers and sellers without an intermediary. In other words, you trade directly with other users rather than through a traditional exchange.

Pros:

• Decentralization: P2P exchanges do not rely on any middleman, reducing the risks of hacking, scams, or price manipulation.
• High security: You manage your own private key and assets, so there’s no need to share personal information with third parties.
• More control: You have the freedom to choose your buyer/seller, set prices, and choose payment methods.
• Low transaction fees: P2P exchanges typically have lower fees compared to centralized exchanges (CEX).

Cons:

• Low liquidity: It can be hard to find buyers or sellers, especially for less popular cryptocurrencies.
• Risk of fraud: There is a risk of being scammed by the buyer or seller, as you do not know their identity.
• Manual transactions: P2P transactions require more manual steps compared to CEX.

5 common questions about crypto exchanges

What is a crypto exchange?

• A crypto exchange is a platform where people buy, sell, and store cryptocurrencies. 
• Some exchanges also offer advanced trading features like margin trading and futures contracts, as well as staking or lending cryptocurrencies to earn interest. 
• Additionally, some exchanges provide educational programs and updates on cryptocurrency news and knowledge.

Are the fees on crypto exchanges in Vietnam expensive?

On trusted exchanges like BitcoinVN, transaction fees are relatively low, typically around 0.2% of the transaction value.

How much money do I need to trade on a crypto exchange?

The minimum amount for each transaction on exchanges usually depends on the cryptocurrency you want to buy. Therefore, it’s important to check the pricing policies of each exchange for proper preparation.

For example, on BitcoinVN: The minimum amount to buy Bitcoin is 501,000 VND, and for Tron, it’s 126.449 VND (as of November 13, 2024).

How do crypto exchanges make money?

Crypto exchanges make money by charging transaction fees, additional fees, lending cryptocurrencies, charging listing fees for tokens, and providing liquidity, or by combining these methods.

How many crypto exchanges are there in the world?

As of May 2024, there are over 1,800 active crypto exchanges around the world.

Conclusion  

This article has introduced the Top 10 best crypto exchanges – places where you can confidently trade safely and effectively. I hope you find a safe platform to “entrust your assets”!