Best Crypto Exchanges in 2025: Complete Comparison

The crypto exchange landscape in 2025 has matured significantly. There are now numerous platforms offering far more than just basic buy-and-sell services.

From advanced derivatives and staking opportunities to regular proof-of-reserve audits and regulatory licenses, the best crypto exchanges of today are competing to provide top-notch services to their users.

With dozens of options available, selecting the right one comes down to understanding your needs – whether you seek lower fees, regulatory compliance, selection of tradeable assets, and so forth.

The following guide highlights the best crypto exchanges in 2025. I examine their strengths and limitations, as well as what sets them apart in the current market.

Key Takeaways:

• Binance remains the largest and most versatile exchange with competitive fees, a range of features, and deep liquidity.
• Bybit is a strong competitor despite suffering the largest crypto hack in history.
• Coinbase is the preferred option for US-based users and absolute beginners because of its simplicity and regulatory compliance.
• Bitstamp and Kraken appeal to users who prioritize regulation, long-term trust, and transparency.
• Specialized exchanges like BitMEX, PrimeXBT, and Phemex cater to more experienced traders with leverage and derivatives markets.

Table of Contents

• Best crypto exchanges in 2025
• What to look for in a crypto exchange?
• Our methodology
• Why trust CryptoPotato
• Should you buy crypto with a crypto exchange?
• What are the different types of crypto exchanges?
• What are the risks associated with crypto exchanges?
• Frequently asked questions (FAQs)
• Conclusion

10 Best Crypto Exchanges to Buy Cryptocurrencies in 2025

XXKK Exchange

This listicle is promoted.

XXKK is a global cryptocurrency exchange that offers trading for cryptocurrencies such as Bitcoin, Ethereum (ETH), Ripple (XRP), and a decent selection of other altcoins. The platform supports both spot and derivatives crypto trading, with its flagship product in the latter being the USDT-denominated perpetual futures contracts. Much like other exchanges, this one also offers leveraged trading. The trading interface is rather intuitive, and it’s not challenging for new users to make their way to the asset of choice and place their first trades.

In terms of security, the platform has reportedly integrated big data analytics and AI to monitor transactions in real-time and to assess potential risks. It employs comprehensive KYC verification but has optimized the process through a multi-level approach. Most notably, XXKK exchange attracts traders through very competitive trading fees, especially for their perpetual futures, where it charges 0.02% for makers and 0.06% for takers – substantially lower compared to other exchanges.

Recent reports indicate a focus on international licensing, with the exchange stating that it has obtained the following licenses:

• U.S. MSB (Money Services Business) registration on August 5, 2022, license number: 31000222694535;
• Canadian MSB (Money Services Business) authorization on September 8, 2022, license number: M22420435;
• Saint Vincent FSA (Financial Services Authority) license on January 23, 2024, license number: 3393.

Another distinctive feature is that XXKK Exchange also supports trading of certain stocks from the world of traditional finance, including popular American companies like Apple, Microsoft, and Tesla, and prominent names from the Hong Kong exchange as well.

Choose XXKK Exchange if:

• You are looking for a streamlined trading interface.
• You search for competitive trading fees across the board
• You want to trade cryptocurrencies and traditional assets in the same platform.

Don’t choose XXKK Exchange if: 

• You are looking for an exchange with a more established history.
• You want only to trade TradFi stocks and indices.

Binance

Binance has become my go-to platform for spot cryptocurrency trading, primarily due to its size, reliability, and extensive selection of coins to trade. It’s the largest crypto exchange by trading volume and user base, offering very deep liquidity across hundreds of different trading pairs, meaning that I can enter or exit positions quickly without having to worry about slippage.

Now, I am by no means a whale, so, mind you, I cannot provide first-hand experience on trading with tens of millions of dollars. So consider this the unbiased review of your everyday retail user.

One thing I’ve noticed is that Binance remains quite competitive when it comes to trading fees. The standard rate for regular users is 0.1% on both makers and takers.

In terms of customer support, it could be better. It does take some time to get issues resolved, but I guess that’s to be expected with an organization of that size. This is also reflected in many of the available review problems – you will find Reddit posts of complaining users, while TrustPilot shows a low score of 1.6/5. However, people are more inclined to leave a negative review, which is why most crypto exchanges score poorly on TrustPilot.

In terms of security, Binance has it all – from cold storage to data encryption, proof of reserves, and whatnot. The exchange was hacked once in 2019 for roughly $40 million, which was immediately recovered by the company. Since then, Binance is operating a SAFU fund where funds go to recovery in case it’s needed.

Choose Binance if:

• You are a beginner who wants a wide selection of coins.
• You are an active trader looking for low fees and deep liquidity.
• You’re an investor interested in features like staking and savings.
• You are a mobile user looking for a robust mobile interface.

Don’t choose Binance if:

• You are in a heavily regulated jurisdiction facing bans and restrictions.
• You are looking for an exchange with more responsive customer support.
• You are bothered by previous legal battles and regulatory hurdles.

Bybit

Bybit was founded in 2018, but I started using it a little bit later in 2020. It was initially headquartered in Singapore but later moved its primary operations to Dubai in 2022. I’ve been using Bybit for both spot and derivatives trading and was impressed by its quick matching engine and the overall simplicity of the user interface.

That said, Bybit has managed to become one of the largest crypto derivatives platforms, and it also boasts very respectable spot trading numbers. It has attracted millions of users and has established itself as one of the most reliable crypto exchanges over the years.

In terms of security, the exchange is centralized, so the onus of protecting customers’ funds is on the company behind it. That said, in 2025, Bybit suffered the largest crypto-related hack. The North Korean group known as Lazarus was responsible for it, and they stole roughly $1.5 billion in Ethereum tokens. Ben Zhou, Bybit’s CEO and founder, came out immediately and addressed all user concerns, ultimately making all of them whole. No users lost funds in this incident, which was quite impressive.

Although there have been complaints about slow customer support and some users have reported that their KYC applications were turned down without an apparent reason, Bybit’s handling of the $1.5 billion hack is a testament to its commitment to its users.

Choose Bybit if:

• You are a beginner interested in following pros through copy trading.
• You are an investor looking for passive income opportunities through Earn products.
• You value smooth and intuitive mobile interfaces.
• You are an experienced trader looking for low fees on derivatives and futures.

Don’t choose Bybit if:

• You are worried about the recent major security breach.
• You are in a region where Bybit has regulatory restrictions.
• You are looking only for basic spot trading exchange with no additional features.

Coinbase

Coinbase is the exchange with the cleanest reputation in the industry, as far as regulation goes. The company behind it is trading publicly on the US stock market, after all. In fact, Coinbase was the first exchange I used when I was new to crypto. It’s great for US-based users who want to buy something basic like Bitcoin and it won’t overwhelm you.

Over the years, Coinbase has become more active in listing new cryptocurrencies, resulting in an expanding list of supported ones.

Having both the “basic” and “advanced/pro” Coinbase interfaces makes it really convenient for different types of users. If you want to execute simple buy and sell orders on the spot exchange, you can do that. If you want to get more technical with powerful charting capabilities, the advanced interface is likely going to suffice.

Security is also a very clear priority – they store assets in cold storage, enforce rigorous multi-factor authentication, and offer insurance over certain risks. This makes it one of the most “comfortable” exchanges to use. It has never been hacked and the fact that Coinbase is a publicly-traded company adds yet another layer because they do have to report to authorities regularly.

The customer support at Coinbase, at this point, is notorious for failing to handle high-pressure situations during peak usage times, and the platform itself has experienced scalability challenges in the past. Admittedly, it’s looking a lot better now.

Choose Coinbase if:

• You are an absolute beginner who wants a simple and user-friendly interface.
• You prefer a highly-regulated and compliant exchange.
• You want insured custodial wallets for peace of mind.
• If you’re in the US, you are looking for easy fiat on-ramps.

Don’t choose Coinbase if: 

• You are in a region facing limited global availability.
• You are trading actively and are frustrated by its higher fees compared to competitors.
• You expect fast and responsive customer support.

KuCoin

KuCoin is a reliable cryptocurrency exchange that’s been around for many years, so let’s start with the things that it does well. It offers a very wide range of altcoins – over 9,000 cryptocurrencies and an abundance of trading pairs. This makes it very good if you want to explore less common tokens, which, of course, come with their own set of risks.

The fee structure is also competitive, especially if you hold their native token KCS for discounts. For spot trading, the fees start at around $0.1% with discounts available in futures and VIP tiers. The security has always been reasonably good, although the exchange has been exploited in the past. It does use cold storage, multiparty authentication, address whitelisting, SSL encryption, as well as a public Proof-of-Reserves (PoR) disclosure.

On the flipside, there are some red flags and limitations. For example, its regulatory status is patchy – it has restricted services in the US and agreed to pay a large fine and penalty for operating without proper licensing and failing to meet KYC and AML standards.

Choose KuCoin if:

• You are looking for a huge variety of altcoins beyond the major cryptocurrencies.
• You are looking for volume-based discounts and lower trading fees.
• You are interested in passive income opportunities via staking, lending, and KuCoin Earn.
• You are interested in community-driven features such as token voting.

Don’t choose KuCoin if: 

• You prioritize fiat on-ramps; options are more limited.
• You are cautious about KuCoin’s lighter regulatory footprint.
• You are worried about past security breaches and fund safety.
• You are in a region where KuCoin is restricted.

OKX

OKX was founded back in 2017 as the international branch of OKEx. The latter was a descendant of OKCoin, which was established in 2013 by Minxing “Star” Xu. At the time of this writing, OKX is headquartered in the Seychelles, and it has regional offices in San Jose, USA, Dubai, Singapore, Turkey, Australia, Brazil, and also in a few countries in the European Economic Area. It’s a well-known centralized exchange, but it has been doing a lot to expand its “Web3” offerings through its non-custodial OKX Wallet.

As a user, I find OKX suitable when I want to trade smaller-cap cryptocurrencies that might not yet be listed on other major exchanges. Although the liquidity isn’t always great on these, there’s at least the opportunity. The exchange offers derivatives trading through futures and options, where you can use leverage of up to 100x. It also has spot trading, spot margin trading, peer-to-peer, and “convert” capabilities for those who don’t want to navigate order books. OKX’s fees are also relatively competitive where maker/taker fees for spot start at around 0.08%/0.1% with lower fees for high-volume and VIP users. The rates for futures and options differ.

In terms of security, there are regular Proof of Reserve audits, most of the funds are stored in cold wallets, it features multi-signature controls, AI-based advanced fraud detection systems, a dedicated cybersecurity unit, and more.

On the flipside, the user interface might be a bit intimidating for newer users. Many of its advanced features involve complexity and an elevated risk profile. It’s also worth noting that the regional availability of features can vary. For instance, certain services such as derivatives trading and fiat on/off-ramps might be restricted for certain jurisdictions.

Overall, OKX is a reliable exchange with a very wide set of features and strong security practices. It is more suited to traders who have some sort of experience with cryptocurrency exchanges in the past.

Choose OKX if:

• You are looking for range of altcoins and different trading pairs.
• You are an investor who is also looking for options trading and DeFi tools.
• You seek passive income opportunities through staking and Earn products.
• You look for lower fees.

Don’t choose OKX if: 

• You are a beginner with no prior experience in crypto whatsoever.
• You are concerned about its offshore regulatory status.
• You are in a restricted jurisdiction.

Bitstamp

Bitstamp has been around for almost as long as Bitcoin, and this says something. The exchange was founded all the way back in 2011 by Nejc Kodrič and Damijan Merlak in Slovenia. It has become one of the most well-regulated exchanges in the European Union, obtaining a national license in Luxembourg and also expanding its reach into many other countries, such as the US, UK, Canada, and more. In 2025, it was acquired by Robinhood.

Without a doubt, Bitstamp’s strongest suit is its emphasis on security and compliance. The exchange integrates advanced fraud detection, two-factor authentication, secure email communication through PGP, cold storage, and many other features to guarantee the safety of users’ funds. It’s worth noting that it was hacked in 2015, but users didn’t lose funds, and the platform has used the opportunity to improve and reinforce its infrastructure. The exchange also publishes regular licensing and audited status reports, which adds to its credibility.

In terms of fees and usability, Bitstamp, much like a lot of other exchanges, employs a tiered maker/taker fee structure based on your 30-day volume. The basic trading fees are on the higher end, starting at 0.3% for market makers and 0.4% for market takers. It can be reduced to 0.00% -0.03 % for high-volume users, but compliance comes at a cost.

As for its limitations, they are also closely tied to its regulatory status. Because it adheres to the strict rules of the European Union, you won’t see Bitstamp listing the newest meme coin through a trading pair with almost no liquidity, just to capture mindshare. The coin selection is generally rather limited. The platform itself uses a similar model to Coinbase, where there’s a Pro and Basic versions of it, which could confuse some users.

All in all, if you are looking for a platform that plays by the book and complies with some of the strictest regulations on the planet, Bitstamp is likely the best choice, given you are in a non-restricted region.

Choose Bitstamp if:

• You appreciate a simple interface.
• You are an investor looking for a heavily regulated platform, compliant in the EU and US.
• You prefer straightforward spot trading tools.
• You seek solid security and reputation.

Don’t choose Bitstamp if: 

• You are looking for hundreds of altcoins to trade.
• You are looking for futures trading, options, or copy trading.
• You want a variety of additional products like staking, launchpads, and DeFi tools.

Kraken

Another veteran exchange, Kraken, was also established in 2011 by Jessee Powell, who remains an incredibly active member of the crypto community. The platform supports over 500 cryptocurrencies and allows users to trade in several major fiat currencies, including EUR, USD, GBP, JPY, and more. It has a Simple and Pro mode.

Users’ funds are mostly stored in cold wallets. The exchange performs regular proof-of-reserves audits, uses multi-factor authentication, and uses third parties for security testing. In terms of features, it offers a broad selection of trading facilities ranging from spot, margin, and futures trading to OTC, staking, and more.

It does offer some interesting features as well, such as the “Instant Buy” and stablecoin purchases, but these can incur higher fees of up to 1.5% and additional conversion costs. Kraken is predominantly a US-oriented exchange, so if you’re not in the country, there are objectively better options out there. However, if you are a US citizen, Kraken offers a robust and powerful trading interface that complies with local regulations and even holds a special purpose banking license.

Choose Kraken if:

• You value strong regulatory compliance and reputation.
• You are an investor interested in a wide range of fiat pairs.
• You want to trade regulated spot and futures on one platform.
• You need enhanced educational resources.

Don’t choose Kraken if: 

• As a complete beginner, you may find the tools intimidating.
• You are a trader seeking fees comparable to Binance’s.
• You are in a region where Kraken faces regulatory restrictions.

BitMEX

BitMEX was founded in 2014 by Ben Delo, Samuel Reed, and Arthur Hayes. The exchange is presently owned by a company called HDR Global Trading Limited, registered and headquartered in the Seychelles. Its roots are in derivatives trading, famously pioneering the perpetual futures contracts that are so common nowadays.

Following the complete overhaul of its leadership and vision, BitMEX has expanded on its spot offerings and made security central to its design, holding funds in cold storage, while also using multi-signature systems for withdrawals and deposits. The exchange claims that it hasn’t lost a single dollar since it was founded. Of course, it remains one of the more popular options when it comes to derivatives trading products, which remain the backbone of the platform. The maker/taker fees start at around 0.05% for many of the futures contracts, and there are reductions for both volume and staking its native token called BMEX.

The exchange is, however, unavailable in the United States, as well as several other jurisdictions, which hampers its accessibility. Asset variety is also rather limited on the spot side, but there are hundreds of different derivative contracts.

The abovementione overhaul, however, came after a massive clash between BitMEX and the US Commodities and Futures Trading Commission. The exchange had to pay a hefty fee, while its founders pleaded guilty to some of the charges.

Choose BitMEX if:

• You are focused on derivatives and perpetual contracts trading.
• You are an experienced investor looking for advanced risk tools.
• You value transparency in liquidation systems.
• You’re interested in a platform built for professional traders.

Don’t choose BitMEX if: 

• You are a beginner and have no experience with leverage products.
• You prefer spot trading.
• You are looking for a wide range of altcoins.
• You have issues with BitMEX’s regulatory history and legal hurdles.

PrimeXBT

PrimeXBT stands out from the rest of the exchanges in our list, as it also offers trading of financial instruments beyond crypto. Those of you wanting to trade forex, commodities, and indices, alongside crypto, in a single platform might find PrimeXBT useful.

One of its defining features has always been the high leverage on some crypto futures contracts. The platform accepts fiat deposits through credit and debit cards and also supports fiat/crypto trading pairs, although the ramps are not as good as those of other competitors. This simplifies things for new users who are not yet crypto natives. It also places serious focus on security, storing user assets in cold storage, and employing all of the industry-standard protections.

On the flipside, it supports a relatively smaller number of cryptocurrencies. It’s also restricted in certain regions – most notably the US and Canada.

Choose PrimeXBT if:

• You are interested in trading forex, commodities, and indices alongside crypto.
• You are looking for high-leverage options across a variety of markets.
• You are interested in copy trading and Covesting.
• You seek multi-asset exposure on one platform.

Don’t choose PrimeXBT if: 

• You prefer stronger fiat on-ramps.
• You are a beginner who just wants to buy and sell spot cryptocurrencies.
• You are looking for a wide selection of coins.

Phemex

Launched in 2019, Phemex supports over 500 cryptocurrencies and offers both spot and futures trading. The leverage varies, but it can get up to 100x on certain contracts. It does offer fiat on-ramps via credit/debit card or bank transfers. The exchange employs security measures that are relatively standard for the industry, including cold storage, 2FA, proof-of-reserves via Merkle trees, daily withdrawal reviews, and more. However, it has been hacked before – in January 2025, one of its hot wallets was exploited, resulting in $70 million being stolen.

The interface provides a range of different tools, including advanced trading options, earning opportunities through staking, as well as an academy section, and mock trading accounts.

On the flipside, it’s not available to traders in certain jurisdictions such as the US. The broad feature set can also feel kind of overwhelming for beginners who might just be looking to buy their first cryptocurrency. The mobile interface feels more intuitive than the web app.

Choose Phemex if:

• You are looking for competitive trading fees and zero-fee promotions.
• You are interested in copy trading and passive income opportunities.
• You are looking for a simple mobile app with a smooth interface.

Don’t choose Phemex if: 

• You are looking for an exchange with a longer-term track record.
• You are looking for a wider selection of trading pairs.
• You prioritize additional services like launchpads or NFT marketplaces.

What to Look for in a Crypto Exchange in 2025?

Security undoubtedly remains the top priority when choosing a crypto exchange in 2025. Cyberattacks are becoming increasingly sophisticated, and investors need platforms that optimize for security through advanced protection measures, both on the client-side and the backend.

Multi-factor authentication, biometric logins, cold storage, regular proof-of-reserves (PoR) audits – these are just a few of the factors to consider when choosing an exchange.

Regulation also plays a critical role – properly licensed exchanges tend to be more accountable and transparent in their operations as they are obligated to do so.

Keep in mind that as the industry matures, it will also get more heavily regulated, and screening the crypto exchange for proper licenses becomes a necessary first step.

Ultimately, an exchange that is both well-regulated and highly secure is more likely to ensure the peace of mind your capital demands.

The fee structure of a crypto exchange can significantly affect long-term profitability, especially for those of you who trade actively. I can’t tell you how many times I’ve closed a trade thinking I’m realizing considerable P&L, only to see it get substantially discounted by the funding rate and fees that I have to pay.

Most crypto trading platforms operate on a maker-taker model, and the fees vary widely depending on whether you add or remove liquidity.

While some exchanges might boast lower base fees, hidden costs such as deposit, withdrawal, or currency conversion fees can quickly pile up.

As with almost everything crypto-related, transparency is essential. The best crypto exchanges clearly publish and regularly update their fee schedules, so this is something that I’ve looked into when curating this list.

• Supported Cryptocurrencies

The range of cryptocurrencies that is available on an exchange is directly correlated with the flexibility of your investment strategy. Therefore, the more the merrier.

Reliable crypto exchanges claim to have rigorous listing procedures, but the fact of the matter is that the broader majority of them are listing newer coins relatively quickly.

• Liquidity and Trading Volume

The exchange’s liquidity and trading volume determine how easy (and efficiently) you can buy or sell cryptocurrencies on the platform. If there’s insufficient liquidity, this means that orders will be filled more slowly with larger slippage, potentially putting in jeopardy the efficiency of the quotes you get.

By this year, many of the high-end crypto exchanges partner with institutional market makers, which ensure healthy order books across the majority of the supported assets.

• User Experience and Mobile Apps

A smooth and intuitive interface is absolutely critical for both seasoned traders and new users. The best crypto exchanges in 2025 streamline their onboarding processes with relatively simple KYC verification, clear navigation, and tools that allow beginners to buy their first cryptocurrency without any added frustration.

Moreover, mobile apps have become just as important as web platforms. The best ones offer real-time price alerts, quick trades, and, in general, help you manage your funds on the go.

When creating this list, I also realized that exchanges have now become much more than just a simple marketplace for buying and selling coins. Even though this is the main focus of this guide, many of them serve as standalone financial ecosystems.

For example, many of the best crypto exchanges allow their users to stake cryptocurrencies and earn passively, participate in new token launches, and offer a bunch of other features that comprise a fully-fledged ecosystem.

Before anything else, a crypto exchange is a platform that will essentially store your funds. You deposit with a third party. As such, customer support (or the ability to quickly get in touch with a representative of the platform) is paramount to the overall rating, and I’ve taken it into massive consideration.

Strong customer support can make the difference between a positive and frustrating trading experience.

Our Methodology: How did we Rank the Best Crypto Exchanges in 2025?

To compile the list of the best crypto exchanges in 2025, I’ve used several criteria, most of which I’ve described in the previous section. The following is a list of weighted priorities for evaluation:

• Security and Regulation
• Customer Support
• Liquidity and Trading Volume
• User Experience and Mobile Apps
• Fees
• Advanced Features (staking, etc.)

In addition to using the exchanges myself for many years, I’ve also taken into account broader user feedback from popular platforms such as Reddit, TrustPilot, and more.

Why Trust CryptoPotato

CryptoPotato is one of the oldest-running cryptocurrency media websites in the industry. Since 2016, we have been covering every major (and, frankly, not so major) event that transpired.

We were here before many of the exchanges in this list were, and we got to witness their progress first-hand.

• We have decades of combined experience writing about cryptocurrencies.
• CryptoPotato has reviewed and rated over 30 crypto exchanges, apps, and wallets.
• Hands-on testing of the crypto exchanges where possible, including funding accounts, trading, and testing the additional features.

Should you buy crypto with a crypto exchange?

For most people who are just getting started with digital assets or have some prior experience but are still wondering whether a crypto exchange is the avenue to consider – it most likely is. Platforms like Binance, Bybit, Coinbase, and all the rest on our list allow you to create an account, deposit funds, and purchase cryptocurrencies directly. In this way, they might mimic using an online stockbroker.

However, the main benefit is mostly in the convenience – crypto exchanges are specialized and offer a wide range of coins, specific liquidity, and more or less reasonable fees as opposed to brokerage solutions. However, you are also expected to thanlde the complexities of trading. In other words, you are responsible for swapping between different cryptocurrencies and you have to handle the orders on your own.

Below are some of the key differences between crypto exchanges and brokerages.

Asset ownership

When you buy cryptocurrencies on a centralized exchange, the exchange stores it for you, but you are free to transfer it to a private wallet. With many brokerages, you may only hold a claim on the value of the asset and not the asset itself. This, in itself, could be very limiting.

Ease of use

Depending on your background, brokerage solutions can be more easy to use and straightforward. However, if you haven’t used one before, I think getting accustomed to a brokerage or a crypto exchange is more or less the same in terms of a learning curve.

Fees and pricing

Crypto exchanges tend to have lower transaction fees and also better quote prices because of their specialized and greater liquidity. Brokerages bake fees into spread and make costs a lot less transparent.

Range of features

Brokerages tend to stick to the most popular and commonly demanded cryptocurrencies like Bitcoin, Ethereum, Solana, etc. On the other hand, specialized crypto exchanges let you trade hundreds of coins, access different and advanced features, stake assets, and much more.

Security and custody

With both centralized exchanges and brokerage solutions, you are trusting a third party with the custody of your assets. Unless you transfer them to a private self-custodial address, you are not in control of your funds.

What are the different types of crypto exchanges?

While this guide is mainly focused on centralized exchanges that have very highly liquid spot markets, making them perfect for beginners and advanced users to buy and sell cryptocurrencies, there are different type of platforms out there.

Spot trading crypto exchanges

Spot trading exchanges allow you to buy and sell the underlying asset. For instance, when you buy BTC, you receive an actual BTC – not a wrapped or synthetic version of it (stay with me, this will get clearer in a second). You buy 1 BTC and you can transfer 1 BTC out of your exchange account to your private wallet. However, the caveat here (as mentioned above) is that if you hold it on the exchange, you are relying on their security.

Cryptocurrency brokers

Brokers act a lot like spot exchanges, but typically they would put the orders for you and manage the cryptocurrency. They are suited for beginners who have previous experience in working with traditional broker firms.

Derivatives trading crypto exchanges

Crypto derivatives are trading instruments geared towards more advanced users. All of the platforms that we have listed in this guide have developed their own derivatives trading systems and you can further check our list of the best Bitcoin margin trading exchanges.

What are the risks associated with crypto exchanges?

The key risks summarized include:

• Security breaches: hacks and exploits targeting exchange wallets.
• Regulatory uncertainty: sudden restrictions across jurisdictions.
• Custodial risk: the exchange holds custody of your assets.
• Market risks: volatility, slippage, and liquidity issues.
• Operational risks: withdrawal delays, hidden fees, revoked KYCs.
• Poor customer support: slow response time during high-demand periods.

I’d love to tell you that crypto exchanges are flawless, but unfortunately, each one of them comes with a set of challenges. The most pressing concern across the board is undoubtedly security breaches. Despite their sophisticated defenses, many exchanges (as you can see in our guide) have gone through some sort of security incident. Whether it’s a hack that led to the loss of funds or a privacy-related incident that resulted in the exposure of very sensitive personal user information, many of these platforms have had their fair share of problems.

Of course, there’s always the custodial risk. There is a very old saying in crypto:

“Not your keys, not your Bitcoin.”

Replace Bitcoin with pretty much any cryptocurrency, and there you have it – the cornerstone that the entire industry is built upon.

Frequently Asked Questions (FAQs)

What is the best crypto exchange in 2025?

Our pick for the best crypto exchange in 2025 goes to Binance. It provides everything a beginner would need, while catering to professional traders as well. It has developed a fully-fledged ecosystem, where users can do a lot more than just trade cryptocurrencies.

Which are the best crypto exchanges for beginners?

The best crypto exchange for beginners is the one that offers a simplified user interface, as well as just the right set of trading tools not to overwhelm users. To this point, options such as Binance, Bybit, and Coinbase stand out.

Which exchanges work best for altcoin trading?

To trade altcoins successfully, you need an exchange that is quick in its listing procedure and provides markets for new coins as soon as possible. Aside from Binance and Bybit, KuCoin and OKX are also preferred exchanges for altcoin trading.

Is Binance better than Coinbase?

For users in the US, Coinbase has the advantage because of its regulatory status. For users outside of the US, Binance seems to be the preferred crypto exchange.

What crypto exchanges are available in the US?

Coinbase, Kraken, Binance’s US division – Binance US, Bitstamp, and a few other exchanges are regulated to work in the US.

Conclusion: Best Crypto Exchanges in 2025

Choosing the best crypto exchange in 2025 largely depends on your priorities as an investor or trader. Some, like Binance and Bybit, attract users through their deep liquidity, low fees, and a range of trading features. Others, including Coinbase, Kraken, and Bitstamp, focus on regulatory compliance, as well as ease of use, making them more appealing for those who would like to pursue this path.

The key takeaway is that there are a lot of good options out there, and it’s important for you to determine what your requirements are as a user and make your pick based on this.