Cryptocurrency exchanges

Types of Cryptocurrency Exchanges

Cryptocurrency exchanges have become the main tool for buying, selling, and swapping digital assets. Today there are hundreds of platforms, each targeting a specific audience: beginners, professional traders, investors, or those who value anonymity.

It’s hard to figure out all exchanges at once, so it’s important to classify them by key criteria: availability of a demo account, fee levels, Russian-language support, trading volumes, margin trading capabilities, or P2P operations. This approach helps a user quickly find the optimal platform for their goals.

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Exchanges for Beginners

Beginners need simple interfaces, a low minimum deposit, and the ability to practice without risk. Below are platforms that meet these needs.

Exchange

Minimum deposit Demo account Education Highlights Fees
Binance From $10 Available via Binance Futures Testnet There is an education section + Academy 5+ investment services (staking, lending), Visa/MasterCard support From 0.1%
Coinbase From $2 No Coinbase Earn: tokens for completing courses User-friendly interface, staking ETH, SOL, ADA ~0.5%
Currency.com From $20 Available in the personal account Educational materials Regulated by the NBRB, 2,000+ instruments (incl. tokenized stocks) From 0.2%
Crex24 From $1–2 No No Crypto faucets for free tokens, simple interface, Russian support From 0.1%

 

Russian-language Exchanges

For traders who prefer an interface and support in Russian, it’s important to choose platforms with localization and full translation. This reduces the risk of errors when working with orders and simplifies communication with tech support.

Top-5 Russian-language Crypto Exchanges

Exchange

Russian-language support Number of currencies Highlights Fees
Binance Full interface translation, Russian-language support 350+ Visa/MasterCard support, advanced P2P From 0.1% (discounts when paying with BNB)
Coinbase Russian version of the site and app 150+ Coinbase Earn education, staking ETH, SOL, ADA ~0.5% (above average)
OKX Full localization and 24/7 support 300+ Spot, futures, options, low fees From 0.08%
EXMO Platform from the CIS, interface in Russian 60+ Support for RUB, UAH, KZT, PLN; convenient deposits/withdrawals ~0.2%
Currency.com Regulated by the NBRB, interface in Russian 2,000+ (including tokenized stocks) Minimum deposit $20, demo account From 0.2%

 

Exchanges by Trading Volume

Liquidity is a key metric when choosing a platform: the higher the daily turnover, the faster orders are executed and the smaller the spread. At the beginning of 2024 the data looked like this:

Exchange Average daily trading volume Highlights
Binance ~$14.9 billion Over 350 coins, low fees from 0.1%, largest liquidity
Bybit ~$3.1 billion Popular among derivatives traders, leverage up to 1:100
OKX ~$2.46 billion Wide range of futures and options, fees from 0.08%
Coinbase ~$2.36 billion US-regulated exchange, convenient for long-term investors
Bitrue ~$0.9 billion Support for XRP and altcoins, low entry threshold

Important: trading volume changes daily depending on trader activity. But the stable leadership of Binance and Bybit shows that users trust these platforms.

Exchanges Without Verification

Exchange Registration Available currencies Fees Highlights
ProBit By e-mail, no KYC BTC, ETH, USDT, etc. 0.20% Full access to trading without restrictions
Garantex By e-mail, no KYC BTC, ETH, USDT Individual terms OTC platform, RUB deposits/withdrawals via cards and cash
YoBit By e-mail, verification optional More than 800 coins From 0.2% One of the oldest exchanges, operating since 2014
Crex24 Fast signup, no KYC More than 100 coins From 0.1% Minimum deposit from $1, Russian-language support
BitMEX Basic registration BTC, ETH, derivatives 0.075% (taker), –0.025% (maker) Leverage up to 1:100, focus on margin trading

Such platforms are suitable for quick deals and small amounts. For long-term storage it’s better to use cold wallets.

Exchanges with Demo Accounts

A test account lets you practice without risking money. This is useful for beginners and traders who want to test a strategy.

Exchange How to activate Available assets Highlights
Currency.com Enabled immediately in the personal account More than 2,000 instruments You can switch between real and demo accounts
Bybit A separate Testnet account is created BTC, ETH, USDT, etc. The balance can be “topped up” without limits
BitMEX Access via a separate Testnet site XBTUSD pair Reduced volatility, suitable for margin training
Bitfinex Paper Trading option BTC, USD, USDT, AAA, BBB 5 test assets, quotes differ from real ones
StormGain Demo available immediately after registration All exchange assets Conditions as close as possible to real, except the order book

 

Exchanges for Margin Trading

Margin trading allows you to open positions larger than your own deposit using leverage. When choosing a platform, it’s important to consider the maximum leverage and the size of the fees.

Exchange Maximum leverage Fee Highlights
Binance Up to 1:125 0.1% (spot), 0.02–0.04% (futures) More than 600 trading pairs, developed derivatives market
StormGain Up to 1:100 0% per trade, commission only in the spread Transparent conditions, convenient for beginners
BitMEX Up to 1:100 Taker: 0.075%, maker: –0.025% Main focus on BTC margin and derivatives trading
FTX (before closure) Up to 1:110 Taker: 0.07%, maker: 0.02% Offered leverage only for derivatives (currently inactive)
Bithoven Up to 1:20 0.20% Suitable for traders with a small deposit

The higher the leverage, the greater the risk of liquidation. Even a small move against the trader can lead to a complete loss of the deposit.

Exchanges with Low Fees

Low trading fees let traders save when making large volumes of trades. Fees usually depend on account status (maker/taker), trading volume, and sometimes the use of native tokens.

Exchange Fee (spot) Highlights
Kraken 0–0.26% Preferential rates for margin trading (from 0.001%). Futures supported with fees up to 0.05%.
Binance 0.1% (maker/taker) 25% discount when paying in BNB; zero rate possible for large traders.
BitMEX Taker: 0.075%, maker: –0.025% Negative maker fee—the platform pays for adding liquidity.
Bitfinex 0.1–0.2% Fixed rates. Makers receive bonuses at high trading volumes.
KuCoin 0.10% With KCS staking the fee can drop to 0.05%.
EXMO 0.20% Simple fee structure. Discounts available for PRO accounts.

Before registering, you should check current tariffs—exchanges often update terms to attract new users.

P2P Exchanges

The P2P (peer-to-peer) model lets users buy and sell cryptocurrency directly from each other without an intermediary. The main advantage is a wide range of payment methods, including bank transfers and cash.

Platform Supported currencies Fees Highlights
Binance P2P 6 cryptocurrencies (BTC, ETH, USDT, BNB, BUSD, DAI), 26 fiat currencies 0% Built into Binance, trades go through escrow
Chatex BTC, ETH, USDT, etc. 0.25–0.5% Works as a separate P2P exchanger, available via Telegram bot
OKX P2P BTC, USDT, ETH 0% Support for RUB, UAH, KZT, convenient card payment methods
LocalBitcoins BTC 1% of the trade One of the oldest P2P services, a wide selection of sellers
Bitpapa BTC, ETH, USDT, USD, EUR, RUB 0% (only a 0.5% withdrawal fee) Decentralized exchanger, trades via Telegram bot

In P2P trading, it’s important to check the rating and reviews of counterparties to reduce the risk of fraud.

Exchanges by Trader Reviews

An exchange’s reputation is built over years. Despite the fact that some online reviews may be sponsored, analyzing ratings on major crypto portals (Trustpilot, CryptoCompare, CoinGecko) helps highlight platforms with consistently high scores.

Exchange Average rating (out of 5) Main pros per reviews Main cons per reviews
Binance 4.6 Low fees, high liquidity, wide selection of coins KYC difficulties for some regions
Coinbase 4.3 User-friendly interface, US license, high security level High spot fees
Huobi 4.2 Many altcoins, developed futures market Occasional delays in support
Kraken 4.4 Transparency, licensing in the EU and US, strong account protection Slow verification during influxes of new users
EXMO 4.1 Support for ruble, hryvnia, tenge; convenient for the CIS Narrower coin selection than market leaders

According to trader reviews, the leaders remain Binance, Coinbase, and Kraken—they combine high security, convenience, and a wide range of tools. EXMO occupies the niche of a regional leader for the CIS.

crypto exchanges

Criteria for Choosing a Crypto Exchange

Before registering on an exchange, it’s important to evaluate not only fees and the number of coins, but also a set of key indicators that determine reliability and ease of use.

Main factors

  1. Regulation and licenses
  • Exchanges with licenses (Binance in the EU, Coinbase in the US, Currency.com in Belarus) provide users with legal protection.
  • Regulated platforms are required to keep client funds separate from their own assets.
  1. Security
  • Two-factor authentication (2FA).
  • Storing most funds in cold wallets.
  • Regular audits of smart contracts and infrastructure.
  1. Operating history
  • The exchange’s lifetime and its reputation.
  • Known incidents: hacks, account freezes, liquidity problems.
  • Team transparency and public information about the owners.
  1. Trading turnover and liquidity
  • The higher the trading volume, the easier and faster large orders are executed.
  • Exchanges with low liquidity are suitable only for small trades.
  1. Customer support
  • Availability of support 24/7.
  • Russian-language support for users from the CIS.
  • Speed in resolving disputes.
  1. Deposit and withdrawal options
  • Ability to top up via bank cards, P2P, crypto wallets.
  • Support for fiat currencies (ruble, dollar, euro).
  • Withdrawal amount and speed.

 

Comparing Exchange Fees

Fees are one of the key parameters when choosing an exchange. They depend on the type of operation (spot, margin, derivatives), the trader’s role (maker or taker), and sometimes on trading volume.

Exchange Base fee (spot) Maker/Taker fees Highlights
Binance 0.10% Maker 0.1% / Taker 0.1% 25% discount when paying in BNB, futures fees from 0.02%
Coinbase 0.50% Maker 0.4% / Taker 0.6% High spot fees, but user-friendly interface and US license
Kraken 0–0.26% Maker from 0% / Taker up to 0.26% Flexible tier system, perks at high volume
KuCoin 0.10% Maker 0.1% / Taker 0.1% Fee reductions with KCS staking
OKX 0.08–0.21% Maker 0.08% / Taker 0.1–0.21% Low fees for PRO traders with large turnover
Bybit 0.10% Maker 0.1% / Taker 0.1% On derivatives, fees from 0.02%
Bitget 0.10% Maker 0.1% / Taker 0.1% Often launches zero-fee promotions
Gate.io 0.20% Maker 0.2% / Taker 0.2% Standard rate, reduced for VIP levels
Bitfinex 0.1–0.2% Maker 0.1% / Taker 0.2% Support for many pairs, bonuses for large traders
EXMO 0.20% Maker 0.2% / Taker 0.2% Simple fee system, discounts for PRO
Crypto.com 0.40% Maker 0.4% / Taker 0.4% Above average, but with cashback when paying by Crypto.com card
Gemini 0.35% Maker 0.35% / Taker 0.35% US-regulated exchange, fees above market
MEXC 0.10% Maker 0.1% / Taker 0.1% Often runs 0% fee promotions
Upbit 0.05% Maker 0.05% / Taker 0.05% Among the lowest rates on the market
HTX (Huobi) 0.20% Maker 0.2% / Taker 0.2% Discounts when paying with HT tokens
BingX 1.15% Maker 1.15% / Taker 1.15% Significantly above average, suitable for small volumes

 

How to Trade on an Exchange

Exchanges provide different trading formats. Each suits its own audience: from beginners to professional traders.

Main formats

  1. Spot trading
  • Classic real-time exchange of cryptocurrencies.
  • A user buys or sells coins at a market or limit price.
  • Suitable for long-term investments and simple operations.
  1. Margin trading
  • Working with leverage (for example, 1:10 or 1:100).
  • Allows you to open positions exceeding your deposit.
  • Increases potential profit, but also the risk of deposit liquidation.
  1. Derivatives trading
  • Futures, options, swaps.
  • Used for hedging and speculation on price without direct ownership of the asset.
  • Example: Binance and Bybit offer perpetual futures with leverage up to 1:125.
  1. P2P trading
  • Direct exchange between users without an intermediary.
  • You can choose a payment method (bank transfer, cash, e-money).
  • Popular in countries with restrictions on cryptocurrency operations.

 

The cryptocurrency exchange market is diverse, and the choice of platform directly depends on the trader’s goals.

  • Beginners will find suitable exchanges with demo accounts, a low entry threshold, and educational programs (Binance, Coinbase, Currency.com).
  • Experienced traders choose platforms with high trading volumes and low fees (Binance, OKX, Bybit).
  • Investors from the CIS find it more convenient to work with Russian-language platforms that support fiat currencies (EXMO, Currency.com).
  • Users who value anonymity can use exchanges without KYC (ProBit, YoBit, Crex24).
  • For margin trading, Binance, BitMEX, and StormGain are optimal.
  • For P2P exchange, leaders include Binance P2P and LocalBitcoins.

The main selection criterion remains unchanged: reliability and security. Before you start trading, you should check licenses, fund-storage terms, fees, and reviews from real users.

FAQ

What is a cryptocurrency exchange?

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Which exchange is best for beginners?

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Which exchange is suitable for margin trading?

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What is special about P2P exchanges?

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