Reviewed and Compared – The 6 Best Crypto Exchanges in 2025

In this guide, we give you the best crypto exchange to buy or sell crypto quickly and with no hassle.

We’ve researched all the popular exchanges and hand-picked six that match every investor profile, from day traders to futures experts and long-term staking lovers.

Our top three picks are Margex, MEXC, and OKX. We’ll thoroughly analyze each exchange, looking at trading fees, the number of features, security, and the quality of their customer support.

Let’s get you informed and well-equipped to capitalize on any crypto trend with these six exchanges.

What Is a Crypto Exchange?

A crypto exchange is a private platform that lets you buy, sell, and trade cryptocurrencies all in one place.

Crypto exchanges act like a broker, providing a secure environment that connects buyers and sellers. They let you buy crypto with fiat (like USD) and trade one cryptocurrency for another (like Bitcoin for Ethereum).

Types of Cryptocurrency Exchanges

There are several types of exchanges, but centralized exchanges (CEXs) and decentralized exchanges (DEXs) are the two main ones.

Centralized Exchanges

Centralized exchanges (CEX) are operated by a centralized third party that controls your private keys and, hence, your crypto. CEXs (like Binance and Coinbase) are the most common and popular type of cryptocurrency exchange, mainly due to convenience. You don’t need to safeguard your private keys, as the exchange does that for you, which is particularly appealing to beginners.

Centralized exchanges also have high liquidity, which leads to quick and smooth trading with minimal price volatility. This means you don’t have to worry about timing the market to avoid losses.

Most centralized exchanges require a KYC and, in some cases, even a proof-of-funds (PoF) statement. While these are necessary to comply with government regulations, many find them … time-consuming at the least and unsavory if anonymity is your friend.

CEXs are also vulnerable to being hacked. Because your assets are held by the exchange (not by you), they can be stolen. And panic-messaging the exchange, hoping they reimburse your losses is probably not a thrilling way to spend your weekend.

That’s where DEXs come in.

Decentralized Exchanges

Decentralized exchanges are essentially the opposite of CEXs. They’re decentralized, so they don’t hold your private keys or funds, which means more security but less convenience (since you need to protect your funds yourself).

Plus, instead of going through a third party, DEXs facilitate peer-to-peer transactions (directly from one person to another) through smart contracts.

Also, DEXs don’t typically require a KYC or PoF, so your sensitive information remains private while you remain anonymous. Examples of DEXs include Raydium, Orca, and Uniswap.

While you have access to newer tokens (like meme coins), trading them without incurring slippage losses will be tough. Fortunately, a new type of exchange recently made headway, and it’s the perfect marriage between CEXs and DEXs.

Hybrid Exchanges

Hybrid exchanges like KuCoin and Bybit combine the best of both worlds from CEXs and DEXs. Some require a KYC, but they’re also decentralized and non-custodial, so the risk of losing your assets to crypto hacks all but goes out the window.

Plus, they offer high liquidity for most trading pairs, which prevents the volatility losses and slippage issues we commonly see in DEXs.

Hybrid exchanges are a new trend, and so currently, adoption remains low. However, they have the potential to attract both CEX and DEX users, offering the most balanced trading experience.

Expert Analysis – Best Crypto Exchange Platforms

To help you find the best crypto exchange for day trading and HODLing, we’ve tested and reviewed the six biggest exchanges on the market.

Here’s what we found.

1. Margex – One of the Most User-Friendly Exchanges & $10K Sign-Up Bonus

Margex is a no-KYC centralized exchange with over 500K registered users and over 180K daily trades, serving 153 countries.

As one of the most user-friendly exchanges today, Margex has hundreds of margin and derivative trading pairs, dedicated copy trading, and on-demand customer support with 24/7 live chat support.

The exchange supports around 50 top coins and includes the main networks – Bitcoin, Ethereum, Solana, and Tron – and all tokens supported on them, making it a flexible option for traders looking to diversify their portfolios.

Speaking of beginners, Margex’s copy-trading feature is a great place to dip your toes into crypto trading, as it boasts over 500K copied trades and 100+ professional traders.

The system copies every trade (like purchases and sell-outs) another trader is doing in real time, so you only need to find a high–ROE (return on equity) trader to follow and step away from the computer. The trader keeps 50% of any profits you make.

And the best part is you don’t need a KYC to start trading, which is a good thing for privacy-conscious traders who want to remain anonymous.

Spot trading is fully integrated with TradingView for excellent real-time monitoring of trades and coin performance. And placing orders has never been easier – the interface is easy to follow and intuitive.

Moving on. Security is a big one for crypto exchanges. Does Margex offer peace of mind?

Yes, it does:

• DDoS protection: Protects against hacking attempts to safeguard assets and data and prevent trading downtime.
• MP Shield system: Real-time machine learning to prevent price manipulation and fraudulent trades.
• Elastic server structure: Servers can easily adapt to high network traffic, offering instant order matching, low latency, and high transaction speeds.

This last one is especially useful for day traders who need 24/7 server availability, even during high-traffic times.

Overall, Margex is a solid exchange for beginners interested in leverage trading and those who want to dip their toes into copy trading. The platform’s quick start guide and video tutorials are also a great place to learn about trading and the blockchain.

Visit the official Margex website today.

2. MEXC – Up to 400x Leverage and 300% Staking APR on 22 Coins

MEXC markets itself as a ‘for everybody’ exchange. From spot and futures to copy trading with high leverage, MEXC checks every box.

One of its key market advantages is its decision to include the newest and hottest currencies (top-performing coins) to give you a leg-up in identifying gems ahead of time, some of which aren’t available on other exchanges.

We’re also talking about new meme coins (like $TRUMP and $MELANIA) that might skyrocket sooner or later. This makes MEXC a fan favorite for early buyers looking for promising new projects that haven’t reached their full potential yet.

Other incentives include airdrops, kickstarter programs, championships (with sizable prize pools), and several other bonuses and leaderboards to spice things up.

The exchange also has its own token, $MX, which entitles you to exclusive rewards (like 60% staking APY) and 50% of taker fees by holding at least 500 $MX.

Affiliates also receive up to 70% commission, one of the highest we’ve seen for exchanges using an affiliate program (higher than BloFin’s 50% commission)

More professional traders will enjoy the native TradingView integration, customizable trading alerts, drawing tools (with automatic snapping), the multi-chart display, and intuitive order history display.

And beginners will find MEXC’s learner guides, intuitive interface (especially the Market’s overview showing you winners and losers at a glance), and easy-to-use mobile app particularly helpful.

The company implements 2FA (via authenticator or email codes), but it doesn’t seem to support security keys, which would have added significant security to accounts.

Overall, MEXC is a great CEX whether you’re an altcoin HODLer, Bitcoin short-seller, meme coin enthusiast, or anything in between. The platform does it all, and it does it well.

Visit the official MEXC website today.

3. OKX – Supports 300+ Coins and Keeps 95% of User Funds Offline

With some of the lowest trading fees and one of the largest coin offerings on the market, OKX is a superb exchange for any trader. It’s also the first global exchange to receive MiCA preauthorization (which means free euro deposits/withdrawals through bank transfers).

OKX offers an extensive suite of services, including a Web3 wallet for DeFi management, an NFT marketplace, gaming dApps (yes, you can play games on OKX), mining pools, collateralized loans, and TradingView charts.

The NFT marketplace is particularly interesting: you can trade top NFTs (including the Bored Ape Yacht Club collection), participate in giveaways and airdrops, and even buy Runes (Bitcoin NFTs).

Better yet, you can also create your own NFTs by downloading the OKX mobile app (which could be the best crypto exchange app based on its Google Play rating).

Staking is also a big plus, with over 33 options (far more than Margex’s 5) and up to 37% APR rewards. Earning programs are also flexible, meaning you can retrieve your coins at any time.

This makes OKX excellent for HODLers who prefer to generate their income passively rather than actively day trade (as the latter tends to be riskier due to volatility).

But day traders aren’t left behind either. World-class APIs mean high-volume trades are instantly executed without the risks of information leaks about trade intent and price slippage.

Moreover, OKX introduced several new features designed to optimize your trading strategies:

• Order sharing: Lets you build visibility and trust among traders by sharing trade details
• Chase limit orders: Minimizes waiting times and slippage when performing large trades by adjusting the asset’s price based on the best bid or ask price
• SKDJ technical indicator: Reduces market noise and emphasizes short-term trends, helping you find overbought and oversold positions

OKX’s leveraged trading also meets industry standards – cross margin and isolated margin are the two primary products there.

The exchange offers up to a 10x leverage on spot trades and 100x on futures, with a 1% annual interest fee for most crypto (10% for stablecoins). You can also trade perpetual futures and options for more flexibility.

Now, let’s talk security. First and foremost, OKX is non-custodial, which means you control your private keys and access to your funds. This is already pretty significant, as most CEXs are custodial.

OKX did have security breaches (read up on what happened), but they reimbursed the affected users in full and beefed up their security infrastructure (by adding a mandatory Google Authenticator step). It seems they learned their lesson and made good on their reimbursement promises, too.

Overall, if you’re looking for a flexible exchange that lets you trade spots and futures, stake, and invest in NFTs while planning your next large trade with 100x leverage, OKX should be on your list.

Visit the official OKX website today.

4. BloFin – Rewards-Based Crypto Exchange With Over 300 Futures Options

BloFin is a relatively new exchange founded in 2024 and one of the few that doesn’t impose mandatory KYC. The process is optional, so anonymous trading is more than viable on BloFin.

The ‘Where whales are made’ tagline also stands tall on the homepage, which is a bold claim to make. Does BloFin also walk the walk, though?

We found it does.

BloFin prides itself on its Rewards Hub, a system that encourages spot and futures trading through mystery boxes, VIP giveaways, and tiered rewards through daily tasks (trading challenges that reward you with futures vouchers, tokens, and VIP tiers)

While spot and futures trading have fairly limited coin support (250 spot and 300 futures) compared to other exchanges (like Binance’s 459 spot coins and 487 futures pairs), the copy trading feature can be highly profitable.

Some traders offer up to a 400% return on investment (ROI), with some copiers (traders who copy other traders) making up to 300% ROI on their investments. Compared to Margex’s copy trading, where some traders offer up to 1,600%, BloFin is a bit lacking. But it makes up for it in the number of copytraders (746 vs 48 on Margex).

Security-wise, Blofin holds a 1:1 reserve of all user assets (proof of reserves) and collaborates with Fireblocks (custodial institution) to offer cutting-edge custody solutions to traders. Other security features include third-party insurance fund coverage (to cover any losses caused by security issues) and transaction monitoring through know-your-transaction (KYT) solutions.

BloFin’s leverage options also meet the industry standard – isolated, cross, and portfolio margin options, with a max leverage of 150x for Bitcoin, Ethereum, and other coins. The trading fees are more than fair, too. With 0.02% maker and 0.06% taker fees for futures trading, they’re among the lowest in the industry (aside from MEXC’s 0.01% maker and 0.04% taker fees).

Plus, the VIP fee tier system makes the deal all the sweeter. The fees decrease the more you trade, with maker fees at 0.006% for the entry-level tier and 0% for tier 5 – the top tier where you need a $500M futures trading volume in the last 30 days or $8M for spot.

The exchange’s affiliate program is another interesting element, offering up to 50% commission on futures trading fees. Plus, these are lifetime commissions from anyone you invite.

And it doesn’t stop there. Sub-affiliate (people your affiliates invite) commissions also apply, which means you stand to make solid profits by recommending BloFin to others.

The BloFin Academy will help iron out any knowledge gaps with newcomers and explain the world of crypto (plus some handy analyses on recent events like the $TRUMP controversy).

Overall, BloFin supercharges crypto reward programs for traders interested in daily tasks, giveaways, and contests. The exchange’s fundamentals are also strong. It offers highly liquid spot and futures trading, as well as profitable copy trading and leverages.

Visit the official BloFin website today.

5. Binance – Highest Liquidity, Strong MFA Security and a SAFU User Fund

Binance is the largest crypto exchange in the world, with a daily trading volume of $68B and a total asset worth over $166B. According to CoinMarketCap, it also has the highest liquidity, both for spot and derivatives trading ($13B more trading volume than Coinbase, the exchange with the second-highest liquidity).

Binance supports far fewer coins than MEXC and OKX because it filters out many risky cryptocurrencies and only offers traders carefully curated coins (which benefits beginners but perhaps not those who like taking a risk).

Its spot and futures options are some of the most advanced in the industry, with five futures options, six types of trading bots, and even a futures copy trading section (letting you copy-trade futures trades, an option unique to Binance among the exchanges reviewed here).

The trading bots are particularly helpful for beginners who want a one-click trading experience.

For instance, the Spot Grid bot can buy low and sell high (not the other way around, fortunately) 24/7, even during volatile periods, giving you a much-needed edge in today’s fast-paced market. The Rebalancing Bot, on the other hand, offers long-term strategies that diversify your risk for guaranteed (but smaller) profits.

There’s more. $BNB, the platform’s official token, is the sixth largest cryptocurrency in the world, and Binance makes full use of that. Holding $BNB entitles you to several benefits, for example:

• Token airdrops if you subscribe $BNB to Simple Earn, a system where you lock your assets to earn passive tokens
• Boosted VIP benefits and exclusive rewards (like reduced spot and futures trading fees, lower interest rates, and higher borrowing limits).

Moreover, by pairing with third parties for credit card and wire transfers, Binance also makes buying crypto with fiat more intuitive than ever. A few clicks and you’re 1$ETH richer, ready to leverage it for 100x.

Loans are another option for those looking to perform high-leverage trades but lack the initial capital. You can borrow any tradeable coin (like Bitcoin, Aave, or Shiba Inu) for an hourly interest rate (Bitcoin has a 0.00015% hourly interest rate or 1.313422% annual rate, for instance).

For active traders, Binance integrates TradingView charts for real-time performance analyses, while excellent liquidity ensures trades happen instantly. So you’ll be able to cash in your profits at the exact price point you want – no delays, no unexpected losses.

Security is another of Binance’s priorities.

Currently, Binance has over 25M users, making it the most popular exchange in the world, and for good reason.

Whether it’s the robust security, guaranteed SAFU, or high market liquidity, the exchange stops at nothing to offer an excellent user experience. Because it’s such a feature-rich exchange, Binance is great for seasoned traders (day traders or HODLers) but may present a bit of a learning curve for beginners, especially for futures trading.

Binance also has a side platform for the United States (Binance.US), as the local regulations make the regular platform unavailable to US citizens. However, Binance.US’s services are different from those offered to the rest of the world.

Visit the official Binance website today.

6. Bybit – Over 12 VIP Tiers and a Maximum 200x Leverage

Bybit is the second-largest crypto exchange, with a $23B 24-hour trading volume and over 4.9M weekly visits. Going by trading volume alone, Bybit is a leading centralized exchange.

The exchange brags about a 30-second account creation process, and that’s mostly on point. If you’re particularly fast, you can also place your first trade in a few minutes.

New traders can get up to 5,050 $USDT in welcome rewards if they complete several steps (like identity verification, depositing at least $100, and trading over $500).

Bybit’s Rewards Hub also shows trading events (like lucky draws, treasure wheels, and trading competitions) and airdrops (with time limits) that refresh constantly.

You can pay with over 60 fiat currencies and benefit from lower fees, global accessibility, and customizable trading (filter coins trades by payment method and price).

And it’s all secure, to boot. The escrow system is your best friend, and Bybit also checks all the boxes for traditional security options (on par with Binance, even). Their ‘Triple Layer Asset Protection’ is particularly interesting – storing assets in cold wallets, locking them behind multi-signature environments, and offering transparency with Proof of Reserve audits.

The CEX hasn’t been a victim of scams or theft allegations, which bodes well for it. Reputation is essential to centralized exchanges, and Bybit’s couldn’t be more solid.

Bybit’s trading fees also follow the industry standard, but the exchange excels in its VIP tiering system. There are several tiers, up to 0.015% taker and 0.005% maker fees for spot trading.

The last tier requires a transaction volume of over $1B in 30 days, so it’s dedicated to the most dedicated traders out there. However, intermediate tiers are accessible to regular traders, too (like VIP 1’s $1M volume).

Bybit’s leverage adds another layer of intrigue to the exchange. With up to 200x leverage, no liquidation before entry, zero fees, and flexible redemption, few other exchanges do leverage trading as well as Bybit. This makes it possibly the best crypto futures exchange in the industry.

You also have a great leverage simulator that shows you how coin performance will impact your leveraged position. This is great for beginners, as it teaches the risks of margin trading in one intuitive step.

Overall, ByBit rises to the challenge and provides an accessible trading experience with one of the highest leveraged trades, near-foolproof security, and highly attractive rewards. Whether you’re a long-term staker who prefers flexible lock-up periods, a day trader who favors risky leveraged trading, or a coin sniper looking for gems, ByBit is an excellent choice.

Visit the official Bybit website today.

Tips on Choosing the Best Crypto Exchange Platform

When choosing a cryptocurrency exchange platform, there are several aspects you should consider:

• Managing risk: Tools like stop-loss and profit-loss orders, diversification, and exit strategies are essential tools for safeguarding your investments.
• Liquidity: Exchanges with high liquidity, such as Binance, help reduce investment risks, making it easier to sell holdings.
• Features: Tools like price charts, volume analysis, chart pattern tools, drawing tools, and social metrics optimize your trading strategy for better gains.
• Security & regulatory compliance: Ensure the exchange complies with all regulations and implements hardened security systems to secure your assets.
• Token number and variety: The more tokens an exchange supports, the more trading flexibility you’ll have. Not having to use multiple exchanges for diversified trading is ideal.
• Accepted payment methods: The more payment methods an exchange has, the greater the flexibility when cashing out your profits

We also use these factors to rank our best exchange for crypto recommendations, and we recommend you do your own research before making a decision.

The Best Trading Platforms for Crypto Compared

To help you make an informed decision between the top crypto exchanges, we’ve compared them below.

Margex is our best crypto exchange contender thanks to its attractive rewards program, 40% referral program, and one-click copy-trading system.

However, MEXC, OKX, BloFin, Binance, and ByBit excel in other respects, such as staking, security, and leverage. Make an informed decision to choose the best crypto exchange for your needs!

Step-by-Step Guide on Getting Started with a Crypto Exchange

We’ll use Margex to show you the basics of getting started with a crypto exchange. Here’s what you need to do.

Step 1: Begin the Account Creation Process

Go to Margex, enter your email address, and click ‘Sign up’ to begin the account creation process.

Step 2: Create Your Account

In the next window, enter your email address again, a password, check the box acknowledging you don’t live in the US or another blacklisted country, and select ‘Sign Up.’

Step 3: Verify Your Email

Go to your inbox and either click the ‘Confirm Your Email’ button or copy the verification code.

You can manually enter the confirmation code in the ‘Email verification’ window that pops up on the Margex sign-up page.

Select ‘Confirm’ and you should be good to go.

Step 4: Start Trading

You’re now ready to start trading on Margex – spot, futures, copy-trading, and staking.

Conclusion – The Best Crypto Exchanges

Choosing a crypto exchange is not an easy task – there are many factors to consider, like security, coin support, leverage, and trading fees.

Then, you also need to think about specific use cases:

• Do you need advanced staking options or higher leverage limits?
• What about more VIP tiers if you plan on trading large amounts of crypto?
• Do you plan on day-trading and participating in daily tasks and contests?

We hope this guide has helped you answer these questions and find the best crypto trading platform for your trading needs.

FAQs

1. What is the best crypto trading platform for beginners?

The best crypto trading platform for beginners is Binance. Even complete beginners can buy crypto using fiat in under a minute, and basic trading is equally intuitive. You also have many guides to help you get started with the exchange’s more advanced features, like leveraged trading.

2. What is the best decentralized crypto exchange?

According to CoinMarketCap, the best decentralized crypto exchange is Raydium, with an $8B 24-hour trading volume and a 22% market share. Other top DEXs include Uniswap, Orca, and Curve.

3. Are crypto exchanges safe?

Not all crypto exchanges are equally safe, but the safest ones include Binance, Margex, OKX, and MEXC. Look for advanced 2FA options (like security keys), reimbursement funds (like Binance’s SAFU), powerful encryption protocols, and manual withdrawal verification.

4. What is the best crypto exchange overall?

Overall, Margex is the best crypto exchange. It has one of the best liquidities in the market, a $10K sign-up bonus, and very low trading fees (0.06% taker and 0.019% maker fees). The 40% referral program and other bonuses and rewards (alongside the staking options) are also very appealing to traders.