How to discover the best crypto exchanges

[Raymondblue]

This post is majorly for new crypto enthusiasts looking for good exchange to explore however it is also beneficial to those who already have an exchange they are using.
Coinmarketcap and Coingecko is one place new users can explore to find out about the ranking of crypto exchanges however one must do other research not to base his/her judgement only on the position the crypto exchange occupies on this platforms.

Other factors like user protection fund, proof of reserve and regulatory compliance must be considered before choosing a CEX especially with the evolving regulatory landscape from different countries which have forced some exchanges out of some countries. From the point listed above, Binance and Bitget take the industry lead in protection fund with $1b and $401m respectively and have verifiable Proof of reserve whose public address can be seen and viewed by their users but when it comes to regulatory compliance, Bitget is number 1 as the exchange is operating in most countries where other top cex are not operational.

The visit to the respective cex website and mobile app also indicate users interest and popularity of the exchanges.

Below is the ranking of top crypto exchanges by weekly visit. The figure below is only for website visit excluding mobile app.
Binance 12.5M
OKX 6.22M
HTX 4.41M
WhiteBit 4.34M
Bybit 3.98M
Gateio 2.62M
Bitget 2.35M
Kucoin 1.94M
MEXC 1.54M
Cryptocom 811k
It is important to note that this exchanges were not founded the same year hence it's understandable to see clear difference in the number of website visit.
HTX and Gateio were founded in 2013, 10 years in the industry. Kucoin, Binance and OKX were founded in 2017 and MEXC, Bitget and Bybit were founded in 2018.
The above exchange are all good exchanges for new users to explore.

Which of these crypto exchange do you use and why do you choose it over others?

 

[lamtikhong91]

What an eye-opener about the differences in user protection funds and regulatory compliance among crypto exchanges! The figures for Binance and Bitget are impressive, but it's crucial to understand how these funds operate and the implications for users.

 

[xantrang8h]

I agree with the emphasis on doing thorough research beyond just relying on Coinmarketcap and Coingecko rankings when choosing a crypto exchange. It's crucial to consider factors like user protection fund, proof of reserve, and regulatory compliance for a well-informed decision

 

[luongknhe192]

I'm not convinced that website visits alone determine the quality of a crypto exchange. While popularity is a factor, other aspects like security, fees, and available features should also play a significant role in evaluating an exchange's suitability

 

[vkldau2n8f]

The article mentions Bitget as number 1 in regulatory compliance, but what specific measures make it stand out compared to other exchanges? It would be helpful to delve deeper into the regulatory practices that set Bitget apart.

 

[okchoitia82]

I completely agree with the notion that new users should consider factors like user protection fund and regulatory compliance when choosing a crypto exchange. It's a critical aspect often overlooked by beginners, and this information is valuable for making an informed decision

 

[dangvasand87]

While the article provides rankings based on weekly website visits, I believe the foundation year alone doesn't determine the quality of an exchange. The user experience, security features, and available assets are equally essential factors to consider. What criteria do you prioritize when choosing a crypto exchange?

 

[Incarts]

While the article provides rankings based on weekly website visits, I believe the foundation year alone doesn't determine the quality of an exchange. The user experience, security features, and available assets are equally essential factors to consider. What criteria do you prioritize when choosing a crypto exchange?

Personally as a newbie some years back, I had onboarded the industry with the mindset that Binance was the leading exchange and that I was going to do all my trading on the exchange. Interestingly though it got overwhelming until I discovered Bitget and some of their products that simplifies trading for newbies and seasoned traders. As the leading Copy trading exchange, I made sure to utilize the tool along with other products while I mastered trading. Users may prioritize varied criteria but it is important to prioritize security and exchanges that are committed to delivering seamless trading.

 

[I am Praise]

The article mentions Bitget as number 1 in regulatory compliance, but what specific measures make it stand out compared to other exchanges? It would be helpful to delve deeper into the regulatory practices that set Bitget apart.

Bitget's dedication to regulatory compliance through a combination of stringent measures, transparent practices, and a user-centric approach makes it stand out as a reliable and compliant cryptocurrency exchange.
Here are more reasons exchange that stands the exchange out from others:

1. Regulatory Compliance Measures: It has robust regulatory compliance practices in place. The exchange complies with regulations in the jurisdictions where it operates, ensuring KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures are diligently followed. This enhances security and reduces the risk of illicit activities on the platform.

2. Licensing and Registration: It holds licenses or registrations with relevant regulatory bodies in various regions. These credentials demonstrate its commitment to operating legally and responsibly within the framework of financial regulations.

3. Transparent Operations: The exchange prioritizes transparency in its operations. They disclose relevant information about their compliance measures, security protocols, and regularly update users on any changes related to regulations or policies.

4. Comprehensive Security Protocols: It employs robust security measures to safeguard users' funds and data, complying with industry best practices and regulatory standards for cybersecurity.

5. Regular Audits and Reporting: Regular audits are conducted to ensure the platform's integrity and compliance. Periodic reporting to regulatory authorities helps maintain transparency and accountability.

6. Educational Resources: It provides educational resources and materials to help users understand regulatory requirements and best practices, fostering a compliant trading environment.

7. User-Focused Approach: The exchange prioritizes user protection and compliance, providing tools and features that align with regulatory guidelines to ensure a safe trading environment.

 

[Zeddicus]

I'm not convinced that website visits alone determine the quality of a crypto exchange. While popularity is a factor, other aspects like security, fees, and available features should also play a significant role in evaluating an exchange's suitability

That's true & I see that the largest copy trading among other trading platform have incorporated security, fees among other salient features of stability seeing what they have achieved so far in the industry.

 

[Isi24]

Aside reviews i see online, I started using bitget exchange based on recommendations from my friend. And I’ll say it’s actually my niche , their features etc . Though yet to try out their p2p feature .

 

[ImamShaheb]

One more thing, Bitget have an extra layer of protection & that's "Protection Fund".