Top Crypto Exchanges Ranked By Volume | Nomics
Year

Quote Currency:

USD

Volume

$3.42T

$1.22T(NaN%)
1
$233.38B (2,797%)
2
$118.39B (137%)
3
$116.74B (2,697%)
4
$19.78B (178%)
5
$13.37B (7,833%)
1
1,067,642,345 (56.44%)
2
270,894,315 (14.32%)
3
107,533,111 (5.68%)
4
95,953,558 (5.07%)
5
89,096,164 (4.71%)
1
95,664,925 (9.84%)
2
30,942,158 (47.59%)
3
26,600,733 (40,565.36%)
4
2,945,988 (24.19%)
5
2,160,369 (0.00%)
1
$559.22B (16%)
2
$410.98B (12%)
3
$365.04B (11%)
4
$285.35B (8%)
5
$262.56B (8%)

Top Cryptocurrency Exchanges List

171
#
Rating
Volume
Volume %
# of Trades
# of Trades %
Pairs
Fiat CurrenciesTraffic RankCSV Data
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ATransparency Rating: A(Transparent)
1
A
$410,980,812,542$410.98B
12%
12.02%
1,067,642,345
56%
56%
575

Binance takes its name from the words Binary Finance, representing the emerging digital financial system. Originally founded in China, Binance has moved its servers and headquarters several times to avoid falling foul of fast-changing local regulations. In September 2017, it relocated to Japan but soon removed its staff due to the legal complications of setting up an office there.

By March 2018, Binance had established itself in Taiwan, announced the opening of offices in Jersey, and moved its headquarters in Malta to increase its European influence. Having achieved an exchange license, it aims to expand on its fiat pairs, including the Euro and the British Pound. The exchange supports the most popular crypto coins and its own native BNB tokens.

Binance claims high standards of safety and security, with multi-tier and multi-clustered architecture delivering high processing throughput. At one point, the exchange had the capacity to process over 1.4 million orders per second, making it one of the fastest exchanges on the market.

The company was created under the tutelage of Changpeng 'CZ' Zhao and his co-founder Yi He. A well-known figure on the crypto scene, CZ emigrated from China to Canada with his family in the 1980s. After earning a major in computer science from McGill University in Montreal, CZ developed trading software for organizations including the Tokyo Stock Exchange and Bloomberg Tradebook.

He then moved into the cryptocurrency space to work on projects like Blockchain.info and OKCoin. In 2017, Zhao left his position as CTO at OKCoin to start Binance. Within a year, Forbes Magazine placed him third on their list of 'The Richest People In Cryptocurrency' estimating that he had amassed a wealth of over $2 billion.

Co-founder Yi He is one of the most notable female entrepreneurs in the blockchain industry. At the end of 2015, Yi joined Yixia Technology, which develops and operates a mobile video application, allowing users to create and share short videos. In 2016, she went on to launch Yi Zhi Bo, one of the country's biggest live broadcasting startups. She also previously worked at OKCoin as head of brand and marketing.

Less than eight months after its inception, Binance raised $15 million in funding through an Initial Coin Offering. By January 2018, it was the world's largest crypto exchange with a BNB market capitalization of $1.3 billion. It attracted further investment from companies such as Sequoia Capital, Vertex Ventures, Limitless Crypto Investments, Blackhole Capital, and Funcity Capital.

Binance expanded its operations to include a number of key initiatives. The Blockchain Charity Foundation (BCF), for example, was created to bring transparency to charitable donations and ensure they reach the end beneficiaries with all costs covered by Binance.

In 2018, it launched Binance Research, a cryptoanalysis division; Binance Academy, a new open access learning hub; Binance Chain, a decentralized exchange (DEX) with the Binance token as its native token; Binance Labs, a social impact fund initiative aiming to support early-stage blockchain and digital currency projects; and a Secure Asset Fund for Users (SAFU) which stores ten percent of all trading fees to cover losses in extreme situations.

As part of its growth strategy in 2018, it acquired Trust Wallet - a popular mobile crypto wallet allowing users to make instant trades on a DEX.

2
A
$365,038,802,117$365.04B
11%
10.68%
107,533,111
6%
6%
86

Bithumb is a cryptocurrency exchange started in Seoul, South Korea, a country inhabited by some of the most active cryptocurrency traders in the world. The exchange enables traders to exchange Korean Won (KRW) for most popular cryptocurrencies.

The exchange was founded by Daesik Kim, who had previously worked in the gaming industry as a developer. In March 2018, Daesik left Bithumb to join Bezant, a blockchain-based payment protocol and application firm.

Bithumb has claimed its foremost management ideology is the protection of customer assets. Its operator BTC Korea previously announced its intent to fully comply with future regulations from the South Korean government and to adequately capitalize itself to protect its clients. The exchange stated that it was open to steps such as the identification of its clients by their real names.

The company released its first audit report outlining Bithumb's financial performance in April 2018. At the time the exchange had 220 employees and 15 shareholders. It generated ₩333.42 billion ($312 million) in operating revenue in 2017, a significant increase compared to the previous year of ₩4.32 billion ($4.1 million). Its net profit was ₩534.90 billion ($501 million) in 2017, up sharply from ₩2.51 billion ($2.4 million) in the previous year.

In October of 2018, plastic surgeon and start-up investor Dr. Kim Byung Gun, bought a $352 million stake in Bithumb. He closed a deal through his BK Global Consortium to acquire 50% plus one share of BTC Holding Co.

Since its inception, the exchange has suffered several security breaches. In June 2018, around 35 billion Korean Won (around $31 million) was stolen from the exchange by hackers. Bithumb promptly offered to refund all affected users from its own reserves.

A year earlier, in 2017, a Bithumb employee's home PC was compromised giving hackers access to the personal information of 31,800 Bithumb users. The hack affected approximately 3% of all Bithumb customers as their usernames, their real names, mobile phone numbers, email addresses, and funds were exposed. A number of accounts were drained of their funds and it was estimated that around a billion Won was lost as a result. Again, Bithumb offered to pay damages.

From Sept to Dec 2018, the Ministry of Science and ICT, the Korea Internet & Security Agency, and the Ministry of Economy and Finance inspected 21 crypto exchanges across a range of 85 different aspects such as administrative, network, system and operational security, and database backup and wallet management. Bithumb was one of only seven exchanges that passed the inspection.

3
A
$73,121,425,382$73.12B
2%
2.14%
89,096,164
5%
5%
50
USD, EUR, GBP

Founded in June 2012, Coinbase is a San Francisco-based company offering several trading platforms designed to help institutions and consumers transact with digital currencies. Coinbase came to prominence after developing one of the first well-designed Bitcoin wallets to enter the crypto scene. During the height of the 2017 crypto mania, it was said to be signing up more than 50,000 new customers a day. Coinbase was the first US cryptocurrency startup to earn a $1 billion 'unicorn' valuation from investors, and the first to bring in $1 billion in annual revenue.

In 2017/2018, Coinbase expanded its core products and offerings. The range of products includes Coinbase, a place to buy, sell, and manage cryptocurrency portfolios for consumers; Coinbase Pro, a trading platform for advanced traders; Prime, a professional trading platform for institutional clients; Coinbase Custody, asset custody specifically for institutions; Coinbase commerce, allowing for digital payment in retail; and an API for developers and merchants to build applications and accept payments in both digital currencies.

The exchange received approval from the New York State Department of Financial Services to form a qualified custodial firm for cryptocurrencies in late October 2018. In November of the same year, it opened an over-the-counter (OTC) trading desk for its Coinbase Prime customers, i.e. financial institutions looking to trade with business funds.

Coinbase also expanded its operations through a number of acquisitions. In April 2018, it acquired Earn.com, a service allowing customers to contact highly targeted individuals or audiences in exchange for payment, or to earn money by allowing people to contact them. One month later it acquired Paradex, a platform for trading tokens directly from crypto wallets without fees. Other companies that joined the Coinbase fold that year include Keystone Capital Corp, Digital Wealth, Venovate, and Distributed Systems.

The company was founded by Brian Armstrong and Fred Ehrsam. Brian was formerly a software engineer at Airbnb and spent eight years creating universitytutor.com, a platform connecting people with local and online tutors. He also briefly worked in positions at Deloitte and Touche and IBM. Fred graduated with distinction from Duke University, earning a B.S. in computer science with a minor in economics. After graduating he worked at Goldman Sachs on the foreign exchange trading desk and then at BlackRock as a portfolio analyst. He has now transitioned away from day-to-day operations at Coinbase to focus on building blockchain-based apps but remains an active member of the company's board of directors.

Coinbase has raised over $217 million from some of the world's best-known investors including Andreessen Horowitz, USV, DFJ Growth, IC, MUFG, BBVA, and many more.

In October 2018, it announced an additional $300 million of investment at a valuation of over $8 billion to accelerate the adoption of cryptocurrencies and digital assets. The Series E equity round was led by Tiger Global Management, with participation from Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain, and others.

4
A
$51,521,346,528$51.52B
2%
1.51%
46,192,547
2%
2%
75
USD, EUR, CAD +2

Founded in 2011, San Francisco-based Kraken is one of the oldest crypto exchanges, with a wide selection of digital assets and national currencies. It was the first Bitcoin exchange to have a trading price and volume displayed on the Bloomberg Terminal, the first to pass a cryptographically verifiable proof-of-reserves audit, the first exchange to switch to the ISO 4217 standard currency code for Bitcoin, and created the first cryptocurrency bank in partnership with German online bank Fidor.

The company was founded by Jesse Powell, a virtual currency, online international payments and fraud expert with over 15 years of experience. Kraken launched in September 2013, with live trading after two years of development and beta testing. Initially, the exchange offered trades between Bitcoin, Litecoin, and Euro. Additional currencies and margin trading were eventually added. To begin with, it mainly operated in Canada, the US, and the EU.

Kraken positions itself as the best Bitcoin exchange for serious and professional Bitcoin traders. Top of its agenda is impeccable security, reliable banking relationships, a fast trading engine, and advanced order types.

In an interview with Hackernoon, Jesse cites 2015 as the year Kraken first became profitable. Kraken was able to expand quickly in the years that followed by acquiring several other Bitcoin businesses. These included Coinsetter, Cavirtex, CleverCoin, Glidera, and CryptoWatch.

In March 2014, Kraken raised $5 million in Series A funding led by Belgium-based Hummingbird Ventures. In 2016, in a Series B round, it received investment from Money Partners Group, one of Japan's leading foreign exchange brokerages, for an undisclosed amount. It also entered into what was described as a 'multi-million dollar agreement' with SBI Investment, one of Japan's leading and most respected venture capital firms. Further terms of the deal were not disclosed.

In May 2018, Kraken made a $1 million donation to the nonprofit Coin Center and pledged to match any donation up to the value of $1 million for the following month. Coin Center is a leading crypto advocate, educating policymakers and the media, while pressing for solutions that keep cryptocurrency networks open, decentralized, and permissionless.

5
A
$35,953,452,330$35.95B
1%
1.05%
19,676,615
1%
1%
14
EUR, USD

Founded in Slovenia in 2011, Bitstamp is one of the oldest firms operating in the nascent market for digital assets. The platform allows trading between USD and Bitcoin as well as facilitating USD, EUR, Bitcoin, Litecoin, Ethereum, and Ripple cash deposits and withdrawals.

Bitstamp was created in a garage with 1000 Euro and two basic laptops by Nejc Kodrič and Damijan Merlak who envisioned an alternative to the then dominant Bitcoin exchange Mt. Gox. Nejc studied Organization and Management of Information Systems and Economics while Damijan started working professionally as a software developer in college. Despite its humble beginnings, the company raised $10 million in seed funding from Pantera Capital, the first United States Bitcoin investment firm.

Bitstamp was the first exchange to offer a multisig online Bitcoin wallet (which requires two of three signatures to authorize transactions) and the first to implement know-your-customer requirements across its user base.

Bitstamp moved its registration to the UK in April 2013. A few years later in 2016 it moved to Luxembourg where it was granted a payment institution license, making it the first nationally licensed Bitcoin exchange in the world. The licence extended to cover all 28 EU member countries, making blockchain history. Initially the exchange focused almost exclusively on European markets, but in 2019 it secured a much-coveted BitLicense; making Bitstamp USA the nineteenth firm to receive a green light to conduct digital currency operations in New York state, where it also now has offices.

In January 2015, Bitstamp suspended its service following a hack during which 19,000 Bitcoins (about $5.1 million) were stolen. The breach represented a small fraction of Bitstamp’s total reserves, the overwhelming majority of which were held in secure offline cold storage systems. Shortly after discovering the attack, Bitstamp made the expensive decision to rebuild its entire trading platform and ancillary systems from the ground up, rather than trying to reboot its old system. In 2019 Bitstamp received a C+ security rating from analytical agency ICO rating.

Attributing its longevity and success to its lean operation model, in October 2018 Bitstamp was acquired by a European-based investment firm for an undisclosed amount in an all-cash deal.

6
A
$24,771,302,997$24.77B
1%
0.72%
95,953,558
5%
5%
394

Gate.io is a crypto exchange founded in the fall of 2017. The platform is operated by Gate Technology Incorporated, headquartered in Seoul, Korea, with a registered address in Virginia, USA.

It gained popularity in the Chinese crypto community for its robust security system, user-friendly mobile apps, and smooth interface. Gate.io differs from many exchanges because it offers hassle-free access to a number of hard-to-find coins and up-and-coming projects. The site was designed to help investors easily find information related to their preferred coins and overall market trends.

Gate.io's web-based trading platform operates on par with most cryptocurrency exchanges. At launch, it included a detailed order book, trading history, and solid charting for those requiring technical analysis. The exchange has been described as responsive and functional and uses a combination of hot and cold wallets to keep assets secure.

Gate Technology also operates Wallet.io., a platform for managing and storing digital currency portfolios. It was launched as an advanced on-chain wallet, negating the need to save mnemonic phrases or private keys, and allowing assets to be viewed and tracked at any time on the blockchain.

There is little information available on the company or team behind the exchange. However, it grew steadily in its first year and accounted for a significant portion of daily cryptocurrency trading in China and beyond.

7
A
$19,919,436,137$19.92B
1%
0.58%
28,395,125
2%
2%
276
USD, EUR

Ethfinex is the home of digital tokens trading & discussion. It is a community hub for developers, enthusiasts and traders to share, discuss and crowdsource information from across the decentralised ecosystem. Ethfinex offers a new community and information hub for ERC20 tokens and Ethereum-based projects. It will facilitate learning, discussion, and analysis whilst simultaneously offering access to the most highly liquid and advanced trading platform for ERC20 tokens and crowdsales. Ethfinex is a spinoff of Bitfinex - it will capitalise on Bitfinex's trading engine and customer experience expertise; Ethfinex will, however, act as an entirely novel, independent entity, built for the Ethereum community.

8

Deribit

A+
$13,538,770,512$13.54B
<1%
0.40%
26,666,308
1%
1%
2
USD

Deribit is a Netherlands-based cryptocurrency exchange that went live in June 2016. The company was founded by a team of crypto enthusiasts, traders, programmers, physics and mathematics scientists and is currently run from its office in Amsterdam. Deribit’s founder, John Jansen, is a former options trader on the Amsterdam Exchange. He came up with the idea for the project after he was fascinated by Bitcoin in 2012.

What distinguishes Deribit from other cryptocurrency exchanges is the fact that the ambitious team behind the project had been testing the platform for two years, before launching it which helped them create a framework capable of handling large numbers of requests with extremely low latency (<1 ms). At the time of this writing, the Deribit team claims that there is yet to be another platform with similar performance. Every part of the exchange’s infrastructure, including the matching engine, is built from scratch and the technology is propriety. The exchange’s servers are located in OVH datacenter SBG in Strasbourg (France).

As of today, Deribit is one of Europe’s most preferred, transparent and reliable cryptocurrency trading platforms. The exchange offers Bitcoin (BTC) and Ethereum (ETH) options and futures contracts. It provides traders with the chance to trade with very high leverage of up to 10x for options and 100x for BTC futures. It is open to users from a variety of countries and its website is available in English, Chinese, Korean, Japanese and Russian languages. Deribit does not accept fiat deposits and deals only with Bitcoin which means that to trade there, clients need a primary exchange to buy BTC.

Deribit’s services attract interest not only from individual clients but from businesses as well. In March 2019, the Cayman Island-based Caspian exchange announced that it is integrating Deribit’s BTC and ETH options and futures trading features on its platform. Due to Caspian’s main focus on big clients and institutions, Deribit’s services are now available to high-volume traders all around the world. When it comes to KYC procedures, Deribit offers a very relaxed policy and does not have a mandatory requirement on all users’ accounts.

Deribit’s team claims to take security very seriously and keeps more than 99% of the customer deposits in cold storage. The vast majority of the funds are stored in vaults and bank safes around the world. Deribit also has an insurance fund to cover the losses of bankrupt traders. However, the exchange announced that, since going live, it has not lost a single penny of their clients’ money.

The exchange runs a two-factor authentication code called Time-Based One-Time Passcode (TOTP). The code combines a secret key with the current timestamp using a cryptographic hash function to generate a one-time password, valid in 30-second intervals. The fully-functional platform offers real-time auditing, liquidation and risk management features to ensure its continued stability and secure operation. At the time of this writing, Deribit’s history is entirely clear of hacks, and operational problems.

9
A
$10,607,523,186$10.61B
<1%
0.31%
36,136,166
2%
2%
124

Poloniex was founded in January 2014 to provide a secure trading environment, advanced charts, and data analysis tools to investors. It is based in Somerville, Massachusetts, USA and claims to be one of the world's most active crypto exchanges. To protect users money, the exchange keeps most deposits in air-gapped cold storage. Online, it only keeps what's needed for active trading.

The exchange was founded by Tristan D'Agosta who previously established Polonius Sheet Music, a company that publishes classical sheet music. His background also includes periods as a freelance composer and writer.

Poloniex was acquired by the Irish payment service provider Circle in February 2018, for a reported $400 million. Circle is known for several products, including Circle Pay for fiat transfers; Circle Trade, an OTC desk and liquidity provider of cryptocurrencies; and Circle Invest, an app that allows retail customers to invest in crypto markets. The Dublin based company is backed by $140 Million in venture capital from large institutional investors including Goldman Sachs, Baidu, and China International Capital Corp.

In March 2018, Poloniex announced plans to expand into Asia and to add fiat currencies to what was (at launch) a purely crypto platform. It stated that it would cooperate with local regulatory authorities as the company expands globally. In September of the same year, Poloniex introduced the USD Coin, (USDC) a fully collateralized US Dollar stablecoin, serving as the bridge between Dollars in a bank account and trading on crypto asset exchanges. The underlying technology behind the USDC (the CENTRE protocol) was developed collaboratively between Coinbase and Circle.

10
A
$9,130,792,932$9.13B
<1%
0.27%
4,483,882
<1%
<1%
15
USD

Gemini was launched as a licensed digital asset exchange and custodian, allowing customers to buy, sell, and store digital assets in a regulated, secure, and compliant manner. It was founded in 2014, by identical twins Cameron and Tyler Winklevoss and is based in New York.

Cameron and Tyler's careers have followed the same trajectory. They both competed in the men's pair rowing event at the 2008 Summer Olympics and co-founded HarvardConnection (later renamed ConnectU), an early version of Facebook, for connecting students. In 2012, they founded Winklevoss Capital Management. The family firm invests across multiple asset classes, with an emphasis on providing seed funding and infrastructure to early-stage startups and is a primary investor in Gemini.

From the outset, Gemini was intended to be a next-generation exchange, fully regulated, fully compliant, and accessible to individuals and institutions. The company went live on October 25, 2015, and began expanding the financial services it offered soon after, some of which include Financial Information Exchange (FIX) and Application Program Interface (API) support.

Gemini was one of the first exchanges to regulated by the New York State Department of Financial Services (NYSDFS). In 2016, the company said it would allow users to withdraw Ethereum Classic (ETC) from the exchange, following a hard fork in Ethereum's code. In April 2018, Reuters reported that Gemini would utilize NASDAQ's SMARTS technology to monitor trades, combatting potential fraudulent activity and price manipulation on its exchange.

11
A
$7,791,897,604$7.79B
<1%
0.23%
6,214,525
<1%
<1%
4
JPY, USD

Popular exchange bitFlyer was the first Bitcoin exchange to be regulated in Japan, the US, and Europe. It was founded in Tokyo in 2014, with a US subsidiary opening in Silicon Valley San Francisco in 2016.

Built by Wall Street veterans, bitFlyer's Lighting Exchange is designed for professional traders and includes all the features and power you would expect from one of the world's most significant exchanges. The company aims to become a leading virtual currency exchange and blockchain developer in the US, leveraging technology, insights, and security practices from its parent company.

Founder Takafumi Komiyama was previously employed by Sony before joining Goldman Sachs, where he worked on the development of settlement systems. Co-founder Yuzo Kano is a former trader and also has experience at Goldman Sachs. Yuzo is known for creating the Japan Blockchain Association and lobbying various Japanese institutions, including the government, in an effort to convince them that digital currencies are not a scam.

In 2017, bitFlyer announced that it became the fourth digital currency exchange to receive a 'BitLicense' to operate in New York. The company has also previously been granted proper licensing from Japan's Financial Services Agency, the European Union, and a majority of states in America.

The exchange was one of the first members of The Virtual Commodity Association (VCA), a group founded by Cameron and Tyler Winklevoss of Gemini. Other members include Bittrex and Bitstamp. The VCA is one of the industry's first self-regulatory organizations and hopes to take steps toward transparency in the notoriously opaque and volatile cryptocurrency market.

By 2018, bitFlyer had raised about $36 million in funding from a mix of Japanese and American investors including Digital Currency Groups, Mizuho, Dai-ichi Life Group, Venture Labo, SBI Investment, GMO Venture Partners, East Ventures, Quick, GMO, B Dash Ventures, Dentsu, and Mitsubishi UFJ Capital.

12
A
$4,285,420,684$4.29B
<1%
0.13%
15,125,555
1%
1%
172
EUR, USD, JPY +3

Liquid is a Japanese cryptocurrency exchange platform operated by fintech company QUOINE. It allows for the trading of digital assets such as Bitcoin, Ethereum, and multiple fiat currencies. The platform is fuelled by the QASH utility token, which provides access to Liquid’s services along with discounts and other additional benefits. QASH tokens have a total supply of 1 billion and a calculating supply of 350 million.

Parent company QUOINE was founded in 2014 and in the same year, launched a fiat-to-crypto trading platform called Quoinex. Two years later it opened headquarters in Tokyo, Japan, and secured $20 million in venture capital funding. QUOINE has further offices in Singapore, Vietnam, and the USA.

In 2017 QUIONE held an Initial Exchange Offering (IEO) and raised $100 million in QASH. In the same year it launched Qryptos, a crypto-to-crypto exchange, and became the first global cryptocurrency firm in the world to be officially licensed by the Japan Financial Services Agency.

QUIONE launched the Liquid web application in 2018 to provide trading, exchange, and related financial services powered by blockchain technology. A year later, the exchange announced that it had raised $1 billion capital from investors including JAFCO, SBI, B Dash Ventures, Mistletoe, and ULS Group and has announced plans to focus on compliant expansion into the USA.

Behind QUOINE are co-founders Mike Kayamori and Mario Gomez-Lozada. Mike was previously a Senior Vice President at SoftBank Group, managing its Asia operations and Chief Investment Officer of Gungho Asia, the creator of Puzzle and Dragons.

Mario was the Japan Chief Information Officer and Head of Fixed Income IT Asia at Credit Suisse (CS) and CTO of Merrill Lynch in Japan, responsible for all aspects of the bank’s IT pertaining to the Fixed Income, Currencies and Commodities business.

13
A
$514,934,420$514.93M
<1%
0.02%
3,506,027
<1%
<1%
17
MXN

Bitso is a Mexican-based digital asset exchange that serves the Latin American region. Bitso charges relatively high fees for low volume trades.

14

IDEX

A+
$124,660,782$124.66M
<1%
0.00%
1,543,390
<1%
<1%
472

IDEX was the first Ethereum-based decentralized smart contract exchange to support real-time trading. It is operated by Aurora, which was founded and registered in the Republic of Panama in 2016 by a group of cryptocurrency enthusiasts who aspired to support the cryptocurrency movement.

Founder Alex Wearn is experienced in the design and delivery of software products having managed a wide range of operations for Amazon, Adobe, and IBM. He once led a product management team in re-platforming their application to operate on a private Ethereum blockchain.

Alex's brother and co-founder, Phil Wearn, has a background in aerospace engineering. Prior to IDEX, he founded EtherEx, where he identified the pressing need for a high-performance decentralized exchange protocol, an insight which served as the basis for the IDEX exchange.

At inception, the primary components of Aurora included a cryptocurrency bank (Decentralized Capital) and a financial asset exchange (IDEX) which worked together to offer modern financial services.

Unlike most other decentralized exchanges, IDEX began by building a smart contract that only allowed the exchange to submit signed trades to Ethereum. This enabled the exchange to control the order in which transactions were processed, separating the act of trading from the final settlement. In December 2017, Aurora launched its own stable coin, the Boreal, to recreate and improve upon the existing financial ecosystem in a decentralized fashion.

IDEX was the first crypto exchange to deeply integrate its data with Nomics in 2018, and is an A+ Verified Exchange. This verification means that Nomics has vetted IDEX's trade history and confirms that exchange data meets the highest standards of integrity, transparency, and consistency.

15

Belfrics

A+
$47,917,897$47.92M
<1%
0.00%
12,102
<1%
<1%
10
USD

Belfrics is a Malaysia-based centralized cryptocurrency exchange founded by Praveen Kumar in 2014. Before Belfrics, Kumar had been working as a consultant to various Indian and Singaporean FX and commodity exchanges for over a decade. He is also a founder of Ocfam, an offshore asset management advisory, and Pramaask, a physical and derivative commodity trading company. After reading Satoshi Nakamoto’s famous paper on Bitcoin, Praveen Kumar became fascinated by the power of blockchain and decided to focus his efforts on Belfrics’ establishment. At the time of this writing, the exchange operates in 7 countries (Bahrain, Singapore, Nigeria, Malaysia, Kenya, India, and Tanzania) with the ambitious plans to expand its global outlook to 15 additional countries. Belfrics is also the company behind India’s first KYC compliant blockchain – Belrium.

Over time, the cryptocurrency exchange managed to establish itself as one of the most trusted and transparent exchanges on the regional markets in Asia and Africa. Belfrics is an Authorized Regulatory Sandbox Participant by the Central Bank of Bahrain. The company has a team of more than 120 employees which it plans to double by the end of 2019. The exchange is renowned for its timely and adequate customer support. Clients can get in touch with the Belfrics’ representatives via email, social media, live chat or even directly in its offices.

Belfrics is a secure exchange that offers 2FA for registered users and requires strict KYC compliance (ID proof, proof of address, bank documentation, etc.). The exchange is fully transparent with no history of hacks or shady business-relations.

In terms of functionality, Belfrics is a multi-feature trading platform with more than 25 cryptocurrency pairs available for trading. According to its team, the exchange offers “one of the most highly liquid order books in the world”. It also allows the flexibility to trade via mobile (Android and iOS) and desktop devices. Belfrics users can also take advantage of the integrated free online wallet and fiat payments.

Aside from the cryptocurrency exchange business, Belfrics offers other services as well. The company has invested a lot in expanding its business model and started offering POS (point-of-sale) terminals integration in physical shops. That way, Belfrics tries to create a fully-digital environment where market participants can trade and spend cryptocurrencies. The company is also an official consultant to the Indian government on blockchain deployment topics and works hand-to-hand with multiple state governments like Kerala, Goa, Karnataka, West Bengal, and Maharashtra.

Belfrics is a chain of licenced cryptocurrency exchanges operating from Malaysia, Kenya, Tanzania and Nigeria. Belfrics exchange is owned, operated and managed by the international Blockchain Conglomerate - Belfrics Group. Belfrics group is known to be among the most compliant and transparent with all the governing and regulatory bodies, and as a result, Belfrics Exchange is also transparent, secure and completely user friendly. The Exchanges are powered and backed by Belfrics' propreitary identity blockchain, Belrium. This enables all our clients to open and hold a digital and secure wallet on the Blockchain to securely hold any digital asset and carry it anywhere with them.

Belfrics Exchange, in addition to all the above attributes, is also a market place for the best buying and selling prices for all renowned cryptocurrencies. Since crypto currency is still nascent in the market, and we still have thousands of new traders everyday, Belfrics is equipped with a pool of dedicated technical and functional support staff availale around the clock to ensure our traders have the best experience on our trading platform. BEL is Belfrics' own 100% utility-based cryptocurrency. The utilization of Belfrics' identity/KYC based blockchain, Belrium, drives the economy of BEL coin. Belrium is currently utilized in various dectralized applications, and government projects for identity and e-governance solutions.

16

Switcheo

A+
$5,307,139$5.31M
<1%
0.00%
409,102
<1%
<1%
77

Switcheo Network is the first decentralized exchange which offers trading of Ethereum, EOS and NEO tokens.

17
A
$4,340,750$4.34M
<1%
0.00%
138,699
<1%
<1%
11
GBP, EUR

Binance Jersey is the first fiat-to-cryptocurrency exchange to operate in Jersey under the auspices of the Jersey Financial Services Commission. Jersey is already a leading jurisdiction for asset management and other sectors of Financial Services, and has also been a leader in ICOs and crypto. Binance looks forward to expanding its business into a jurisdiction that already has highly-trained and experienced financial services professionals.

Binance Jersey offers a stable and safe fiat-to-cryptocurrency trading platform built on the same technology developed by Binance. The Jersey exchange currently provides secure and reliable trading of Pounds Sterling (GBP) and Euros (EUR) with Bitcoin (BTC) and Ethereum (ETH), in addition to asset management services to users.

Binance Jersey aims to build a secure, transparent and open blockchain community for users around the world. The Company will put its community interests first, sustain a 1,400,000 orders-per-second matching engine, provide 24/7 customer service, and count on strong technical support from the Binance global team. Binance Jersey is building together, with its users, a world-class blockchain community.

18

ZEBITEX

A+
$528,641$528,641
<1%
0.00%
2,160,369
<1%
<1%
66
EUR

Established in November 2018, Zebitex is a centralized European cryptocurrency exchange, based in Toulouse, France. Zebitex is founded by Christophe Villegas and Pierre-Guy Bareges, two widely-renowned figures on the French cryptocurrency stage. Zebitex is the third company in the portfolio of Villegas’ and Bareges’ Digital Service Group. The founders are also running the highly-successful and trusted ZeBitcoin exchange and DigyCode, the first prepaid service in France that allows for the exchange of euros against cryptocurrencies. All three companies have a clear history and reputation.

Although Zebitex was found at the end of 2018, it stepped on firm ground with the team’s substantial expertise in developing and managing cryptocurrency exchange businesses. ZeBitcoin, the other exchange in the founders’ portfolio of companies, has been around since 2016. The idea behind the launch of Zebitex was to capitalize on ZeBitcoin’s momentum and provide another trusted and transparent exchange to the French and European crypto community.

Zebitex’s primary goal is to offer a smooth and comfortable way for users to trade cryptocurrencies against the Euro. The exchange provides hundreds of active pairs quoted in EUR, BTC, ETH, and USDT. Users’ accounts can be funded directly by a SEPA transfer or credit cards at fees, way lower when compared to those of the exchange’s main European competitors. Thanks to the fact that Zebitex does not rely on venture capital funding or other external investment schemes, it provides its clients with a flexible fee policy.

Zebitex offers an affiliate program as well. The two-level referral program allows clients to earn cryptocurrencies on each trade and obtain commissions for referrals and sub-referrals, as well as their trades. The goal behind the affiliate program is to award users who contribute to the formation of a community.

At the time of this writing, there are no reported customer support-related issues. Zebitex’s team eases the communication with their clients by using a live chat feature and a ticket-based support function which shortens the time needed to respond to users’ queries.

When it comes to security measures, Zebitex states on its website that it is adequately protected against DDoS attacks and employs full data encryption. It also adds that the exchange is compliant with PCI DSS standards. As an additional safety measure, Zebitex ensures its clients that it keeps more than 95% of their funds in a Ledger Vault from Ledger™. To further enhance the secure exploitation of the exchange, the team behind the project has also developed a propriety system called “Hardware Security Module” (HSM). The HSM is a multi-signature management system that generates, stores and protects cryptographic keys for exotic assets, unsupported by the other employed protection systems.

At the time of this writing, Zebitex hasn’t reported any security-related issues, malicious attacks, or hacks. The case is the same with Zebitex’ predecessor, ZeBitcoin. Considering the fact that exchange steps on the technology, employed by ZeBitcoin, it is understandable why it has managed to remain stable and secure.

19

New Capital

A+
$181,210$181,210
<1%
0.00%
3,024
<1%
<1%
2

At New Capital, our mission is to promote, fund and manage transformative projects that further the use of digital assets, generally employing blockchain as an essential component. We believe that true community involvement is critical for our projects to have the best chance of success, and we enjoy and encourage the contributions, input and support of the global community. The New Capital Community Exchange allows the safe, secure and efficient exchange of value between the cryptocurrencies that are intrinsic to the various projects within the New Capital ecosystem, and a selected basket of prevalent digital assets. This platform has no fees, and is supported by the community itself. In addition, the simple and no-cost transactions between New Capital-supported cryptocurrencies allows community members and other participants to easily support and partake in multiple projects. The cryptocurrencies within the New Capital ecosystem that are currently listed on the Community Exchange are TWINS and FIX coins.

20

Blocktrade

A+
$2,921.21$2,921
<1%
0.00%
35,968
<1%
<1%
16

Blocktrade.com is a top-tier trading facility for Security Tokens, Crypto Assets, Crypto Traded IndicesT and other tokenised assets. With a clear vision of establishing the New financial world ecosystem, we are about to become the first fully MiFID II compliant crypto exchange and are partnering with security token issuers, market makers and other financial institutions, sharing the same high standards and values. Acquiring the license for listing security tokens in a completely regulated manner, Blocktrade.com is opening the floodgates for institutional capital to join the crypto markets. In order to exceed expectations of retail as well as institutional traders, Blocktrade.com trading venue is built on high performance, superior security and outstanding customer experience.

21

WCX

A+
$2,868.19$2,868
<1%
0.00%
76,553
<1%
<1%
1

WCX is a crypto trading platform founded in 2017 by ex-Apple engineers. The platform has experienced record growth since it started, attracting traders from 190 countries with its speed, ease of use, and security.

WCX is unique in the trading world as it allows users to trade financial markets using just bitcoin (BTC). It combines the speed and trading experience of a cryptocurrency exchange with the broad range of markets typically offered by traditional brokers.

Because it's powered entirely by bitcoin and doesn't rely on banks, WCX can trim the costs incurred by other platforms and pass on the savings to users in the form of 0 fees, high liquidity, and the lowest spreads in the industry.

A-Transparency Rating: A-(Very Good)
22
A-
$204,925,143,382$204.93B
6%
5.99%
270,894,315
14%
14%
836

HitBTC claims to be the world's most advanced cryptocurrency exchange providing markets for a large number of cryptocurrencies. Exchange development started in 2013, as a collaboration between software developers, finance professionals, and traders. The platform was built to replicate the features of world-renowned exchanges, such as NYSE, NASDAQ, and LSE.

HitBTC was officially launched in February 2014, after receiving $3 million of funding from Israeli investors. It promised to be vigilant about suspicious user behavior and fully compliant with Anti-Money Laundering (AML) guidelines.

There is no information about the founders in the public domain. HitBTC's leaders addressed their anonymity in a statement on its forum:

"Our headquarters is located in Hong Kong, China. We are certain that revealing the confidential information has nothing to do with the exchange reliability. Due to the fact that we are totally responsible for our user's funds only we can protect them - that is why some information about our exchange is confidential (etc. full address). CEO publicity can not guarantee the funds safety from the hack attack, but the security measures, which we are applying on HitBTC, can." [sic]

HitBTC says its main focus is on implementing cutting-edge technologies to cryptocurrency trading. It has stated that its core matching engine is the most advanced technological product in its class.

23
A-
$70,368,085,666$70.37B
2%
2.06%
69,829,372
4%
4%
112
USD, GBP, JPY +1

Bitfinex is a full-featured spot-trading platform for major digital assets & cryptocurrencies. It offers leveraged secure margin trading through a peer-to-peer funding market and is owned and operated by iFinex Inc., which is headquartered in Hong Kong and registered in the British Virgin Islands.

The company was founded in December 2012, as a Bitcoin exchange, offering digital asset trading services to users around the world, later adding support for more cryptocurrencies. It was one of the first professional platforms built to accommodate the booming interest in cryptocurrency trading.

The platform was the brainchild of Raphael Nicolle, an IT technician from Paris. After three years as a system administrator at Gutenberg Networks, he became involved in the Bitcoin ecosystem and built Bitfinex.com from the ashes of a previous project called Bitcoinica. He continued to work as a developer for the platform until the beginning of 2017.

Co-founder Giancarlo Devasini originally began his career as a physician but later moved into the booming computer hardware business. In 1997, he founded Solo SpA, a pioneer in the dynamic random-access memory (DRAM) market. He became a partner in Bitfinex in 2012 and was instrumental in establishing banking relationships, attracting key personnel, and re-domiciling the exchange.

In 2015, Bitfinex introduced fiat operations, acting as a global point-of-access to traders wishing to enter the digital asset space.

BTransparency Rating: B(Good)
24
B
$16,491,430,815$16.49B
<1%
0.48%
263
USD

Founded in 2014, by three cybersecurity engineers, Bittrex is a US-based blockchain trading platform boasting lightning-fast trade executions, dependable digital wallets, and industry-leading security practices. Its mission is to help advance the blockchain industry by fostering innovation, incubating new and emerging technology, and driving transformative change.

Set-up in Seattle, Washington, it is renowned for its vast number of listed cryptocurrencies and for employing the most reliable, effective security technologies available. It was co-founded by Bill Shihara, Richie Lai, and Rami Kawach who all have extensive backgrounds in security with leading global tech companies.

Bill was previously a Security Engineering Manager at Amazon, a Manager of Security Threat Analysis and Security Engineering at BlackBerry, and also spent 11 years at Microsoft working on the Windows Operating System and with the Trustworthy Security team. Richie previously served as a leader in the Amazon Information Security Team and spent 12 years at Microsoft building up their security engineering and internet crimes division. Rami was Principal Security Engineer at Amazon, Director of Engineering at Qualys, where he built a next-generation vulnerability management solution and malware detection system. He also spent 10 years at Microsoft where he led multiple projects.

In 2018 Bittrex established Bittrex International Inc., an affiliate company, to operate its blockchain technology-focused businesses outside of the United States. Its advanced digital asset trading platform was developed specifically for international customers and built on Bittrex's existing cutting-edge technology. The trading platform provides innovative tokens which claim a more streamlined approach for being listed.

At around the same time, the company established Bittrex Malta Ltd. The location means the European platform will be able to list coins more quickly while operating within the regulatory framework established by the European Union and the Maltese government.

CTransparency Rating: C(Fair)
25
C
$559,223,778,902$559.22B
16%
16.36%
414
USD

OKEx is a digital asset futures trading exchange aimed specifically at institutional traders. Launched in 2017 by Chinese Bitcoin giant OKCoin.com, it was designed to take over from OK Coin, which ceased futures trading in 2017 but remains operational for fiat trading with major digital assets. OKEx also offers customer-to-customer (C2C) trading, spot margin trading, and an index tracker.

Headquartered in Hong Kong, in 2018 it expanded operations to Malta to take advantage of the country’s crypto-friendly regulations, and shortly afterward partnered with the Malta Stock Exchange (MSE). The joint venture aimed to create an ‘institutional grade security-tokens trading platform’ called OKMSX which was scheduled to launch early in 2019.

It is one of the few exchanges to offer a stand-alone desktop platform rather than running through a browser. It purports to provide a safe, reliable, and stable environment for digital asset trading, having adopted GSLB, distributed server clusters, and other advanced technologies. Additional features include low fees, multiple cycles for easy hedging and arbitraging, and margin trading that allows users to maximize profit with 10x or 20x leverage. Traders can choose between several different tiers of account depending on the trading volume and their overall activities.

At the beginning of 2019, OKEx offered hundreds of token and futures trading pairs, serving millions of users in over 100 countries. During the same period, its BTC futures trading had a daily volume of nearly $1.5B.

The platform claims to have implemented state-of-the-art security; for example, only a limited amount of Bitcoin is stored in cold wallet addresses that all have embedded encryption protocols. Despite this, in 2017 users of the platform were subject to an apparent hack. OKEx expressed full confidence in its own security system, stating that it had thwarted all withdrawal operations by attackers, and advised its users to improve their personal security settings.

Mingxing Xu, also known as Star Xu, is the founder of OKCoin.com and OKEx. He previously worked as a development engineer at Yahoo, then as Chief Technical Officer at Docin. In January 2019, he became the largest individual shareholder of a public company listed in Hong Kong via the $60 million acquisition of LEAP Holdings Group, the construction engineering firm.

It was widely rumored at the time that the purchase would bring the exchange a step closer to a possible back-door listing on the Hong Kong Stock Exchange (HKEX). Crypto exchanges increasingly opt for reverse-mergers to become publicly listed companies, rather than through a conventional Initial Public Offering (IPO), which is a lengthy and complex process.

The exchange is well capitalized and has attracted over $10 million from investors like Tim Draper, Ceyuan, and Mandra Capital.

26
C
$285,349,443,152$285.35B
8%
8.35%
176

ZB.com is an unregulated Chinese cryptocurrency exchange. It launched shortly after the Chinese government’s ICO ban in 2017, relocating to Hong Kong to avoid strict regulations. It is registered in the island state of Samoa making it possible for the exchange to conduct business internationally.

Although it mainly caters to Asian investors and traders, its services are available worldwide with the platform available in both Mandarin and English. It also offers two levels of service, one for experienced professional traders, and a simplified version for beginners.

ZB.com’s main offering is crypto-to-crypto spot trading, but it also provides limited crypto to fiat trading options. It supports 3x leverage trading and high-performance match trading.

Following its launch, ZB.com partnered with BW.com (one of the world's largest cryptocurrency mining platforms) and QUOINE (a leading fintech company providing financial services through blockchain technology). The partnership was created to facilitate liquidity across isolated cryptocurrency & fiat markets.

In 2018 ZB.com began over-the-counter (OTC) trading and introduced margin trading for major cryptocurrency pairs. It also launched its European operations ZBX, a Malta-based crypto exchange which aims to be one of the first fully regulated Maltese exchanges, and has applied for a license to list Security Token Offerings (STOs). According to ZBX executives, the platform will be one of the most liquid exchanges on the planet with liquidity shared among the ZB exchange family (ZB, ZBX, and ZBG).

The platform was co-founded by Jimmy Zhao, a former systems manager at Ericsson, who went on to found several start-ups including Lunchback, a mobile platform connecting professionals with mentors, ChainEx, event planning and marketing for ICO’s, and Zillion Bits AG, which provided the technology and support to build ZB.com.

Kevin Zgang, who also worked at Ericcson as head of global operations, shares the title of co-founder at both Zillion Bits AG and ZBX.

In an October 2018 monthly report by analysts CryptoCompare, it was noted that ZB.com’s web traffic was suspiciously low compared with the average daily trading volumes and that its depth down volume was significantly lower than its average daily pair volume. Researchers at Crypto Exchange Ranks also claim to have found patterns of unnatural and artificial trade volume performance. This has led to certain factions accusing the exchange of volume manipulation.

27
C
$241,726,384,692$241.73B
7%
7.07%
273

Bit-Z is a global cryptocurrency trading exchange, providing professional digital asset trading and OTC (Over The Counter) services. Founded in 2016 in Hong Kong, its website indicates that it employs top-level talent from the international digital currency industry and from other fields including finance, social networking, games, and electronic commerce.

Although several publications note that Bit-Z is transparent in its exchange operations and terms and conditions, there are no details about the platform’s founders in any public-facing documents.

In 2018 Bit-Z launched DKKT, a security token pegged 1:1 with the Danish Krona, which is only available in a select number of markets and has a total available supply of 15 Million. In the same year, it also launched BZ, and ecological token based on the Ethereum ERC20 agreement. BZ has a circulating supply of 180 Million coins and a max supply of 1.2 Billion coins and the token aims to benefit Bit-Z by maintaining the ecological development of the group’s blockchain.

By 2019 Bit-Z had exceeded over 10 million international registered traders with online traders exceeding 250,000. Claiming to offer maximum security, Bit-Z states that it employs bank-level SSL technology, over 300 security measures and GSLB with distributed servers to ensure the stability of the platform.

The Bit-Z Group, previously announced the establishment of a BZ Fund focused on early-stage startups. The BZ Fund will share the Group's $10 million industrial fund. The group outlined future plans to focus on the development of blockchain technology, and multi-dimensional investment fields such as digital payment, digital copyright, financial services, and media platforms.

28
C
$219,439,193,075$219.44B
6%
6.42%
499

Huobi is a Singapore-based cryptocurrency exchange originally founded in China. Its name means ‘hot currency’ in Chinese. Following a 2017 government ban on Bitcoin exchanges, it moved its exchange headquarters to Singapore but continues to operate as a blockchain consulting and research platform on the Chinese market.

In 2018 Huboi became publicly listed on the Hong Kong stock exchange and now has offices in Hong Kong, Korea, Japan, Russia, and the United States. Its US operations, located in San Francisco, are run by HBUS Holdco, Inc., a US company and strategic partner of Huobi Global.

Huobi Global claims to be one of the largest digital asset trading service providers in the world and aims to forge strategic partnerships in each country it moves into; it is said to be eyeing expansion into the Middle East, Brazil, Vietnam, and the UK and European markets.

Between September 15 and November 1, 2017, the Chinese government’s rule changes decimated Huobi’s trading volume by 95%. While trading gradually recovered, the leadership team decided to launch a proprietary cryptocurrency, the Huobi Token (HT), to boost customer engagement, especially with their premium product offerings.

The HT is an exchange coin, tradeable with any cryptocurrency on the Huobi exchange. It was launched in January 2018, with 300,000,000 of the total HT being distributed on a first come, first serve basis to Huobi VIP subscribers. The HT ecosystem has five different membership tiers providing discounts of between 10-50% on transaction fees depending on the tier.

Another significant benefit of HT ownership is the provision of voting rights on exchange decisions, including which new assets will be listed on the exchange. HT will also be periodically bought back by Huobi and burned.

The exchange platform, which is said to mimic Binance, was founded by Jun Du, who previously held positions as operations director at Comsenz and Tencent, and Leon Li, who was previously an engineer at Oracle.

In 2014 Huobi Group raised $1 million in Series A funding through ZhenFund and Sequoia Capital, raising a further million via an ICO in 2017. In 2018, its accumulative turnover had exceeded 1.2 trillion USD and it held the title of the world's largest digital asset exchange with a global share of 50%, providing services to users in over 130 countries.

Advisors to the company have included Randi Zuckerberg, the elder sister of Facebook founder Mark Zuckerberg; Bitcoin evangelist and investor Jeffrey Wernick; and Don Tapscott, an early proponent of cryptocurrency who is known for his book Blockchain Revolution and his TEDGlobal conference.

29
C
$121,064,313,361$121.06B
4%
3.54%
334
KRW

Upbit is one of the largest cryptocurrency exchanges in South Korea. It offers the trading of South Korean Won (KRW) with a wide selection of cryptocurrencies and a large number of Bitcoin pairs. Upbit launched on October 24, 2017, with the help of its American partner, the cryptocurrency exchange Bittrex. Within three months Upbit became the country’s largest crypto exchange in terms of daily transactions.

Upbit is operated by Dunamu Inc. the developer of the stock trading platform Stockplus. It is also affiliated with Korean internet giant Kakao Corp. which runs South Korea’s most popular mobile chat app, Kakaotalk. A unique feature of Upbit is the ability to trade currencies via the Kakao Stock platform, which is built on Kakaotalk messenger. This means Korean cryptocurrency users are able to trade cryptocurrencies as easily as they use the messaging app. This is highly significant due to the popularity of crypto trading in South Korea.

The founder of Upbit is listed in Forbes as Song Chi-Hyung, whose net worth was said to be between $350 million - $500 million in 2018. A graduate of Seoul National University, he obtained his Bachelor’s degree in computer science and economics. He founded Dunamu in 2012 which started as a news aggregator but moved into fintech. In 2017 Song left his position as Dunamu CEO to focus on Upbit’s global expansion.

In 2018 the exchange was accused by the Korean Financial Services Commission of manipulating data processing systems to rake in more than ₩120 billion ($106.8 million), and falsifying ₩254 trillion worth of fake orders to inflate the exchange's trade volume. Two top-level officers and one employee of Upbit, including Dunamu's chairman of the board, were indicted without detention. Upbit strongly denied the allegations.

Yoojin, one of South Korea's largest accounting firms, was hired to evaluate Upbit's accounts and found it to have the required funds, and not to have committed any fraud, but questions remained over the legitimacy of the findings as the Korean government did not release a statement or additional information on the case.

As part of its expansion plans, in 2018 Upbit launched exchanges in Singapore, Thailand, and Indonesia, and hosted a local language website for each exchange. In the same year, Upbit’s operator Dunamu announced plans to invest ₩100 billion ($92.5 million) toward blockchain technologies over the subsequent three years.

30
C
$30,882,442,433$30.88B
1%
0.90%
402

Launched in September 2017 in Singapore, KuCoin is a Hong Kong-based centralized cryptocurrency exchange, founded by Michael Gan and a team of cryptocurrency enthusiasts. It is worth noting that the team behind the project has a solid experience, including Gan’s background in working for Ant Financial of Alibaba Group, MikeCRM, KF5.COM and the team members’ management positions at companies like iBOX PAY, Sichuan Qianyuan Investment Co Ltd., Jianbang Communication, YOULIN.CO, and others.

The team started researching the blockchain technology in 2011 and built the platform’s infrastructure in 2013. However, the period to 2017 was dedicated to tests and bug fixing. Once KuCoin went live in 2017, it started to gain popularity from day one and, since then, has managed to successfully penetrate several markets such as UK, US, Canada, Australia, Japan, India, and others.

Like many of the other exchanges, KuCoin has its own token, named KuCoin Shares (KCS). Holding KCS in your portfolio allows you to receive discounts while trading and dividends from the trading fees, collected on the platform.

When it comes to security, KuCoin’s team states that they employ safety measures on a systematic and operational level. The exchange is said to operate via bank-level security standards, including common transfer encryption protocols for storing users’ data and multifactor dynamic authentication. According to KuCoin’s information, they have established also a dedicated internal risk control department. How effective all this is, still remains to be seen as, at the time of this writing, the exchange is still in its infancy and hadn’t reported being a subject of any severe security attacks.

Referring to itself as “The People’s Exchange”, KuCoin does not lack admirers. You will find plenty of positive reviews, pointing out how the exchange is poised to become the best in the world, top all charts or how you should hurry up to create your account before it stops accepting new customers. The reason for all this hype is KuCoin’s referral program. Things get quite different if you head to Reddit or Trustpilot where you will find plenty of negative reviews or reported user issues that remain unaddressed.

However, when it comes to communication with its clients, KuCoin maintains lots of different channels – from social media (Facebook, Twitter, and Instagram), through Telegram, to LinkedIn and Reddit. Each of the abovementioned channels is available in a variety of languages, such as English, Turkish, Spanish, Russian, Italian, Vietnamese, Hindi, and more.

Although, as of the time of this writing, KuCoin hasn’t experienced any major security problems, it had to deal with some reputation issues. At the start of 2019, KuCoin was accused of requesting significant sums from projects at risk of having their tokens delisted from the exchange. The collected money was intended to pump the trading volumes and boost liquidity for the respective tokens. KuCoin’s representatives denied the information, describing it as communication that may have come “from fake or rogue employees”.

It is worth noting, however, that KuCoin reacted in a timely manner when the New Zealand exchange Cryptopia was hacked, and there was the risk for hackers to transfer the stolen funds to KuCoin. Michael Gan, CEO of KuCoin, came out and revealed that any stolen funds that are transferred to KuCoin from Cryptopia would be frozen.

31
C
$18,805,840,893$18.81B
1%
0.55%
191

CoinEx is a Hong Kong-based global digital coin exchange service provider. Founded in December 2017, the platform offers low fees, over-the-counter transactions, high security, and advanced trading charts. The exchange is owned and operated by Coinex Technology Limited, a U.K incorporated company and was built for both beginners and advanced users, however, as of early 2019, it did not support leverage or margin trading.

The CoinEx native token (CET) is issued on the Ethereum ERC 20 protocol and acts as a value-added service and privilege scheme. The total supply is fixed at 10 billion with CoinEx promising to buy back and burn CET using 50% of its quarterly transaction fee profit at the end of each quarter. There was no ICO or private funding leveraged in the creation of the token.

CET provides holders with discounted trading fees on the exchange, special rights during promotional campaigns, voting rights, and can potentially be used as ‘gas’ on a future planned decentralized exchange. All transaction fees on the platform are calculated and converted to CET tokens. The CET tokens are then distributed back to traders depending on the transaction volumes.

Although CoinEx does not list its founders on its site, Haipo Yang, founder of the fiat based currency exchange ViaBTC (of which CoinEx is a subsidiary), is widely reported as its founder. Yang is known as one of the earliest adopters and investors of Bitcoin and once led the research and development team at ZeusMiner, the former TOP3 Scrypt miner in the world.

In December 2018 it was rumored that Yang had been arrested and detained by the Chinese authorities after he disappeared from public view. Reports claim that he was detained for two and a half months. Additional information on the reason for his arrest, detention, and release remain undisclosed.

CoinEx guarantees client funds 100% and claims to keep client and operational funds segregated. This means client funds are always fully available for withdrawal, and they cannot be used for any other purpose, such as funding company operations. The platform implements advanced SSL protocols, cold multisig wallets, and enables two-factor authentication.

32
C
$1,070,474,323$1.07B
<1%
0.03%
27
USD

Founded in 2013, OKCoin is a Chinese trading platform providing fiat trading with major digital assets, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. By 2019 the company had joint ventures, branches, and operation centers in more than ten countries and regions, including Beijing, San Francisco, Tokyo, Seoul, Luxembourg, Hong Kong, and Malta.

It successfully raised $10m of Series A funding in 2014. The investment round was led by Ceyuan, one of China’s earliest venture capital firms, Mandra Capital, VenturesLab, and numerous high-profile angel investors.

OKCoin is aimed at basic consumers and is under the umbrella of the OK Group, which also operates OKEx a digital asset futures trading exchange aimed specifically at institutional traders. Other companies in the group include OK Blockchain Capital, and the OK Blockchain Research Center.

In 2015, Bitcoin investor Roger Ver sued the exchange for $570,000 alleging that OKCoin violated the terms of a contract for work on the website Bitcoin.com. Ver claimed that the exchange forged a version of the contract and changed the terms and conditions.

OKCoin weathered another controversy in November 2017 when the exchange briefly listed Bitcoin at a price of around $15,000 per BTC, compared to most other exchanges that priced it at around $7,000 per coin. The erratic readings from OKCoin's system may have been linked to a brief outage in the exchange when compliance and sanction controls for the exchange were malfunctioning.

In 2018, the company was subject to a second lawsuit from a Chinese investor who accused the exchange of blocking access to 38.748 BCH following a fork. OKCoin responded that the investor had failed to claim the coins within an apparently undisclosed deadline.

Founder Mingxing Xu, also known as Star Xu, is the founder of OKCoin.com and OKEx. He previously worked as a development engineer at Yahoo, then as Chief Technical Officer at Docin. In January 2019, he became the largest individual shareholder of a public company listed in Hong Kong via the $60 million acquisition of LEAP Holdings Group, the construction engineering firm.

33
C
$774,532,241$774.53M
<1%
0.02%
50
USD

COBINHOOD is a zero fee cryptocurrency exchange launched on December 28, 2017. Registered in the Cayman Islands, it has offices in several major markets to facilitate compliance and is headquartered in Taipei, Taiwan. More than 13,000 users signed up for the exchange on its first trading day.

The company generates revenue via a two-pronged business model. It attaches an interest rate to the loans it provides for margin trading of up to 10x leverage. It also offers an initial coin offering (ICO) underwriting service which its founders compare to Goldman Sachs’ initial public offering (IPO) underwriting business, except with a focus on tokens.

COBINHOOD claims to pick and choose its ICO’s carefully, only underwriting those from reputable, billion-dollar companies. Its service provides marketing resources, liquidity, legal compliance review, smart contract advisory, as well as the reputational bonus of an association with COBINHOOD.

The exchange has a utility ERC20 token, called COB, which aims to maximize traders' profits with benefits tied to the platform. Benefits include 50% off margin trading loan interest and the ability to get future ICO tokens at significantly lower rates.

COBINHOOD’s ICO was officially launched on September 13, 2017, and ended on October 22, 2017, having raised a total of 45,254.9 ETH (equivalent to $13,216,883 at the time). A reported 244,773,856 COB tokens were distributed to 17,433 participants out of the 500 million available. A total of 1 billion COB tokens will be issued.

The platform was co-founded by Popo Chen, a serial entrepreneur who created the successful Asian 17 Live Streaming service, and Wei-Ning Huang, a former Google employee and an active open source contributor. The exchange boasts a seasoned management team and has worked closely with technology veteran and advisor Tony Scott, a former Microsoft executive who served in the Barack Obama administration.

Popo Chen is also the founder of DEXON, a blockchain platform for developing and deploying DApps. DEXON is built on a new kind of ‘blocklattice’ architecture in which every node proposes blocks in parallel, promising infinite scalability.

The decision to create a zero-fee trading platform came from Chen’s personal experience trading cryptocurrencies. He has previously stated that he felt like he was being robbed when he discovered the cut that the exchanges were taking.

COBINHOOD is built on the Google Cloud Platform and is programmed with Golang for high concurrency. The platform is said to be highly secure with most funds stored in a cold vault in which 98% of all assets are kept within security modules. The security modules are multi-signature, meaning each module is locked into different banks’ safe.

34
C
$759,423,385$759.42M
<1%
0.02%
19
AUD

Launched in 2016, ACX is an Australian cryptocurrency exchange owned by the Hong Kong-based company Peak HK Limited. Headquartered in Victoria, the exchange facilitates the purchase of Bitcoin and other cryptocurrencies, accepting deposits and withdrawals in Australian Dollars. ACX also offer Over the Counter (OTC) trading for those wishing to make transactions over the value of $50,000 (AUD).

Although the exchange is not regulated, it claims to undergo periodic financial audits by a third party auditing company to ensure transparency. The exchange is not anonymous and has strict Know Your Customer (KYC) rules and requirements. ACX holds 95% of its digital assets in a proprietary, cold storage system with 2FA implementation.

ACX has little competition on the Australian market and in 2017 acquired the users of DigitalX Direct, a blockchain payment solutions company that started as a Bitcoin mining and exchange platform. DigitalX agreed to stop its mining and exchange operations in return for 50% of the revenue earned from its previous customers over a five-year term.

There is no information in the public domain about the founders of ACX or it’s parent company Peak HK Limited.

35
C
$368,948,590$368.95M
<1%
0.01%
52

Binance Dex is a non-custodial decentralized cryptocurrency exchange launched in April 2019 and headquartered in Malta. The team behind the project is the same one that started Binance - one of the world’s leading cryptocurrency exchanges. However, the venue’s operation is maintained mostly by its community. Changpeng Zhao, CEO of Binance, states that the reason for launching Binance Dex was that decentralized exchanges “are offering a trustless and transparent financial system.”

Binance Dex is a subsidiary of Binance and complements its ecosystem that also includes a startup incubator, a token launch platform, research portals, education centers, OTC trading desks, and a mobile wallet application. The exchange is an addition to the Binance Uganda and Binance Jersey trading venues which widen the Binance group’s market exposure to Africa and Europe respectively.

Binance Dex is a decentralized matching engine, developed on top of the Binance Chain that allows users to trade cryptocurrencies which are issued and listed there. All funds traded on Binance Dex are stored directly in users’ wallets, and they retain full control of their funds. The matching logic allows for all transactions to be recorded on-chain and within the blockchain nodes (on a P2P basis) which helps in the mission of establishing a more transparent, easily auditable and functional exchange. Binance Dex operates in the same way as traditional stock exchanges where orders with best bid prices are matched with orders with best ask prices (also known as “NBBO”).

Binance Dex was launched after a two-month testnet period. During that time, the exchange processed more than 8.5 million transactions over a simulated trading competition. The team also conducted a bug bounty program and a coding contest which allowed them to fix flaws, existing in the system at that time, update the platform, and implement additional enhancements.

According to the team behind the project, Binance Dex is capable of operating with one-second block times, which is similar to the speed of centralized exchanges. They also state that the exchange has the capabilities to handle trading volume, similar to the one that Binance deals with. To prove that, two months after launch, the Binance Dex’ team processed a transaction worth $1.2 billion, which took 1.1 seconds to be executed and cost $0.015 in trading fees.

Binance Dex allows for additional functionalities, such as the issuance of new tokens, freezing and unfreezing of tokens, proposing new trading pairs or trade existing ones, created by the community.

At the time of this writing, there are no reported cases about hacks of Binance Dex. However, there have been some controversies with the exchange soon after it was launched. Users from 29 countries, the USA included, were struggling to access the exchange website. Some industry analysts were quick to describe that as a proof that Binance Dex wasn’t, in fact, a decentralized exchange. However, Binance CEO Changpeng Zhao reacted quickly and cleared things out by saying that geoblocking was false and it was just the Binance website (www.binance.org) that was restricting access from some countries, while the exchange itself, was fully operational and accessible from all around the world.

When it comes to safety measures, the Binance Dax team have done their best to limit any potential DNS attacks, typical for hackers targeting decentralized exchanges, or other malicious activities, by providing tons of information on the best practices regarding trading specs, matching logic and anti-front-running. There is also a very detailed outline for Binance’s Disaster Recovery and Emergency protocols. At the time of this writing, there are up to 11 nodes securing the network reportedly, with Binance retaining the full control of its operations.

DTransparency Rating: D(Poor)
36
D
$24,989,080,106$24.99B
1%
0.73%
379
USD, UAH

P2PB2B is a cryptocurrency exchange that is mainly focused on the needs and interests of businesses. From the B2B point of view, the exchange has several benefits. Open API allows any API apps like exchangers, financial services, startups to get a free listing. Therefore new projects can attract the audience while established businesses give their users more opportunities. The exchange also promises that the listing process of new coins will take only 5 minutes. The primary listing form contains just 4 questions and further communication is made by mail.

37
D
$20,314,975,708$20.31B
1%
0.59%
240
BRL

Based in Singapore, CoinBene launched in 2017 and offers fiat trading, hundreds of crypto assets, OTC services, liquidity management, and marketing services. Covering over 150 countries, it claimed to have achieved $3 billion of transaction volume within its first year of business.

CoinBene also operates as a mining exchange with its own cryptocurrency, CONI, issued on the Ethereum platform. It has a circulating supply of 213 million coins and a maximum supply of 1 billion.

In 2019, CoinBene was accused of covering up a hack. The exchange denied the claims, stating that the flow of outgoing funds was the result of ongoing maintenance. David Brierley, CEO of Howdoo, was reportedly seeking to file a class action suit against the exchange claiming to have lost 18.4 million of the company's token uDOO ($209,000) in the process.

There is no clear information about CoinBene or the people behind it, but one of the co-founders is known to be Jay Cao, who has been interviewed on a small number of YouTube channels.

In May 2019, Germany's financial regulator, the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) expressed concerns that CoinBene had been recruiting freelance crypto traders and paying them on commission. Since crypto assets are financial instruments, BaFin says that trading them requires authorization under Germany's Banking Act, or Kreditwesengesetz (KWG) which CoinBene did not have.

CoinBene denied employing anyone within the German market stating that previous job postings for Germany-based freelance cryptocurrency traders were fake.

38
D
$18,739,278,543$18.74B
1%
0.55%
21

JEX is the most professional derivatives trading platform. JEX is the first digital asset trading platform to launch options trading in the world.

39
D
$16,944,922,442$16.94B
<1%
0.50%
82

FatBTC is a centralized cryptocurrency exchange based in Hong Kong, the Mecca of digital asset exchanges, and is one of the many trading venues there. Although it was founded in 2014, for the time being, it failed to convince investors that it is a trusted, reliable and transparent cryptocurrency exchange. A part of FatBTC’s issues are faked trading volume, lack of information about the owners and the company behind the project, plenty of users complains on Reddit that remain unaddressed, very unresponsive and unstable website, etc.

On a first glimpse, FatBTC looks like a good option to choose, not only for those looking for an entry-level exchange but for experienced and more demanding traders as well. FatBTC offers trading of 65 cryptocurrencies, an e-wallet service and even its own token - FCNY. The case with the FatBTC-owned cryptocurrency is similar to the one of Tether (USDT) – it tracks and replicates the Yuan.

However, when you take a closer look under the surface, some worrying facts start to appear. For example, there is not much information about the company and its owners. It is quite annoying to see how the exchange’s website freezes when you try to explore more of the “About” section and have to go for a Google search instead. Even when you end up on the “Terms & Conditions” page, you won’t be able to find any valuable information. The few paragraphs there state that the exchange is owned by FatBTC Technology Company Limited, incorporated under the International Business Companies Act Chapter 270 of the Laws of Belize, Revised Edition 2000, of Belize City, Belize with a company number of 166,480. However, if you check the local corporate register for more information about the owning company, you won’t find anything. This should serve as a red flag for investors willing to use the exchange for trading or storage of their funds.

Another deeply concerning fact is the lack of strict KYC procedures. The registration of new users is extremely simple – all you need is an email where you will receive a verification code. Next, you are instructed to choose a password and voila - you are good to go.

Regarding security, the exchange uses the standard HTTPS protocol and employs a 2FA. According to the information on their website, FatBTC stores 95% of users’ funds in cold storage. When it comes to customer support, FatBTC offers three communication channels – live chat, ticket system and social media (Telegram, Twitter, etc.). However, customers often report a lack of timely responses and week-long delays in handling platform-related problems.

At the time of this writing, there are no reported security breaches or known cases for hacker attacks. This does not mean the exchange is fully-secure though. It is also worth noting that, although it was founded in 2014, it was hard to find any valuable information prior December 2017.

40
D
$12,521,579,178$12.52B
<1%
0.37%
526
USD

Hotbit is one of the professional digital asset exchange platforms that provide trading services among major digital currencies like Bitcoin, Litecoin and Ethereum for users from all over the world.

41
D
$2,385,957,123$2.39B
<1%
0.07%
30

Allcoin is a global digital asset trading platform operated by Cascadaia Fintech Corp, which is incorporated in Vancouver Canada. It has been listed on Canadian Security Exchange( Stock code “CK”) since 12th September, 2013. Allcoin.com officially released the digital asset trading platform in April 2016 and at the same time it has been registered with FINTRC (Financial Transactions and Reports Analysis Centre) of Canadian government as MSB(Money Service Business).

42
D
$1,467,320,609$1.47B
<1%
0.04%
21

OOOBTC is a gateway and exchange for crypto-currency and crypto-ecosystem.

43
D
$1,032,591,824$1.03B
<1%
0.03%
161

Bitrue is a Singaporean centralized cryptocurrency exchange, founded in July 2018 by a team of cryptocurrency enthusiasts and finance professionals. The founder, Curtis Wang, is also the one behind the Bitrue Space project – an incubator for blockchain-related startups. According to a statement on their website, the team running the project consists of “senior management team from Capital One” and security experts that “represent the apex of their professions at the international level.” However, this does not seem to be convincing enough. Bitrue is Curtis Wang’s first blockchain project, having no prior experience in the cryptocurrency niche. His background includes almost four years of telecom experience in positions such as Head of Innovation Business Development, Senior Director and Business Development Director.

If we get into more details, we will find further organizational issues. At the time of writing, Bitrue has headquarters in Taiwan and Singapore, as well as local offices in the US and Europe. In particular, it claims to operate five offices around the world. What is strange here is the fact that, at the time of this writing, its team is comprised by no more than nine team members, according to their LinkedIn page – the only available information about the team. This fact makes it quite hard to understand how such a small group runs a massive project like this.

After the launch of the exchange, it made the local headlines with the introduction of XRP base market. This resulted in attracting a significant base of XRP enthusiasts. However, over time, there have been many issues with the exchange and XRP trading accounts in particular.

When it comes to security, it is worth noting that Bitrue takes this matter very seriously. Alongside the statements that it has a team of the leading talent in their respective professions, you can find the word “security” all over their website. The platform’s architecture includes two-factor authentication and cold wallets with multiple signatures. However, despite all security measures, Bitrue proved to be very vulnerable when its website was put to a real test an year after its launch. June 27th, 2019 was the day when the exchange was hacked and proved that the team of security experts does not seem to have done their job at the desired level. The cyberattack resulted in the loss of approximately $4.2m in XRP and Cardano (ADA) tokens. The security breach affected 90 Bitrue clients and, at the time, was the 17th biggest cryptocurrency exchange hack in history. The attack has been a big blow to the cryptocurrency exchange’s reputation as “security”, one of their three main pillars (the other two are speed and simplicity), was compromised.

Immediately after the security breach, the exchange contacted local authorities and issued a statement that it would refund all victims of the attack, and all tokens will be returned safely to their respective owners. According to the exchange, the refund process was completed on July 4th, 2019.

Bitrue’s operational problems do not end with the hack. The exchange launched its own token, BTR that went live on July 4th, 2019. However, immediately after launch, their server crashed, and a problem with the pricing of the digital asset on mobile devices occurred. The result caused some buyers to buy on way higher prices, while sellers exploited the vulnerability to make money. To overcome the situation, the exchange froze some of the affected users’ accounts and canceled a big part of the trades.

For its short history, Bitrue has experienced other security issues as well. On January 8th, 2019, the exchange was a subject to a 51% attack by a hacker who tried to steal 13 000 ETC. However, according to Bitrue, the system prevented the attack and the users’ funds were safe.

In all fairness, it is worth noting that the exchange reacted quickly to resolve all security-related issues or system breakdowns. The immediate reaction helped minimize the extent of the hacker attacks and leave no negative consequences for the users.

If you scroll through Bitrue’s Twitter profile, you will also see that the exchange suffers periodical problems with deposits and withdraws, mostly for XRP. These issues often lead to temporary shutdowns and maintenance breaks, which may be inconvenient for some investors.

Aside from that, it is worth noting that the exchange offers a poorly constructed website, often hard-to-understand for English speakers and very basic in its core. It struggles to ensure the safe and stable trading environment, which is the primary basis of a successful cryptocurrency exchange. When it comes to transparency, Bitrue does not shine as well. Plenty of customers report a lack of adequate support, frozen accounts, stolen funds, etc.

Bitrue offers an interesting feature called “Powerpiggy”. Powerpiggy is a deposit program where investors are incentivized to store their digital assets on the platform by receiving 7.3% annual interest rate. According to the exchange, most of their customers’ funds are stored in cold wallets, and there is no risk of losing money with the additional insurance for funds up to $1 000 000 worth of tokens. However, there is no info where does this 7.3% interest come from.

For the time being, Bitrue has struggled to offer a competitive advantage within the crowded cryptocurrency exchange niche. Although the Bitrue’s CEO has set the ambitious goal of becoming a top 20 exchange in the world, at the time of this writing, this seems unrealistic. Bitrue has many issues to deal with, and until the team manages to solve them, there are many other options worth considering.

44
D
$887,573,511$887.57M
<1%
0.03%
31

Here are a few reasons why we're here:; 1. The platform started in 2015 and has been an old brand for years 2. The number of Telegram followers is 70 K and it continues to grow 3. 500K number of platform users 4. More than 10,000 daily visits to the platform 5. The platform is well-resourced. we can help when you develop China 6. We can work together on the ad, as long as the price is right

45
D
$526,256,278$526.26M
<1%
0.02%
1
JPY

Coincheck is a Japan-based bitcoin exchange, wallet services and bitcoin lending. The company also supports the buying and selling of ether, DAO, LISK, Ethereum Classic and other cryptocurrencies.

46
D
$505,463,050$505.46M
<1%
0.01%
646
USD, EUR

Livecoin is a universal platform for the exchange and trading of the two largest cryptocurrencies with fiat currencies.

47
D
$475,536,540$475.54M
<1%
0.01%
459
USD

YoBit is a centralized cryptocurrency exchange, founded in 2015 in Russia. Although it is not a new name in the crypto world, it is hard to find any meaningful information about the exchange itself and its owners. In this regard, it is quite unique, as the exchange remains one of the very few cryptocurrency trading venues which doesn’t provide any information regarding where it operates from, who owns it or who forms its team. You won’t find any information on its website about where the platform is registered either. Its website resembles more of an anonymous trading platform, rather than a representation of a public exchange.

The internet is full of positive reviews of YoBit, most of which explain how to set up your account and start trading. However, none of them explains why there is no specific information about the exchange’s owners or history. All this may be reasonable, considering the fact that YoBit has made the headlines multiple times with reports of suspicious activities, fund withdrawal-problems or pump-and-dump schemes.

The most notable scandal, related to the exchange, took place on October 2018, when the venue revealed that it would start pumping random coins, listed there. This resulted in artificial changes in the prices of the target coins.

Another widely-reported case took place in March 2017, when YoBit became a subject of an investigation by the Russian authorities. The local telecommunications regulator Roskomnadzor launched an investigation on the exchange for alleged fraudulent activities, caused by inconsistencies with exchange rates that allowed the venue to profit on the expense of its users. YoBit reacted to the case by describing the news as “fake and paid” and urged its clients not to pay attention.

In a 2017 Business Insider investigation, YoBit was accused as a website for “pump-and-dump” scams. In its in-depth research, Business Insider observed pump-and-dump schemes for several cryptocurrencies, including Chill Coin, Magi Coin, UBQ, Indorse and VCash, taking place on YoBit and Bittrex, a Las-Vegas-based exchange. Business Insider clarified that it was unclear whether the exchanges were aware of the pump-and-dump schemes taking place on their platforms, which is why they got in touch with each of them. YoBit, however, did not respond.

YoBit has a history of suffering security breaches as well. At the start of 2019, on January 9th, the exchange became a victim of a 51% attack, which resulted in a steal of more than 130 000 ETC. However, a few days later, on January 15th, the exchange tweeted that the hacker has returned 94% of the stolen assets and kindly thanked him.

Another disadvantage for the exchange’s public image is the FAQ section on its website, which is limited to just ten general questions. One of the questions there relates to the time it takes for their customer support to address a user’s request. According to the exchange’s answer, a “major quantity of responses comes to users within an hour, but sometimes it takes up to 24 hours to send the response.” This is hard to believe, considering the large number of frustrated users on forums such as Bitcointalk and Reddit who are left waiting to have their issues resolved for weeks. Users’ raise all sorts of claims - from missing coins in their accounts, through inability to withdraw funds, to blocked accounts and trading restrictions. However, the YoBit’s team ensures that they are working on improving the customer support department’s efficiency.

YoBit’s website also offers a feature called “Dice” which is basically a game of dice. This sort of gambling is complemented by the InvestBox option which is described as a sort of an investment tool that makes it possible to earn up to 10% from the cryptocurrencies deposits daily “without any efforts.”

The fact that YoBit is an unregulated exchange which lacks background information (intentionally or not) and has a shady history raises a red flag for any investors considering whether to choose this trading venue.

48
D
$395,610,400$395.61M
<1%
0.01%
147
USD, RUB, EUR +3

EXMO.com is a bitcoin and other crytocurrencies exchange that accepts major fiat currencies with an easy to use interface. It has an international team consisting of developers from Spain, Russia, India and Thailand, as well as financial advisors from the UK and the USA, Lithuania and Singapore.

49
D
$387,038,029$387.04M
<1%
0.01%
9
AUD, CAD, CHF +5

LakeBTC is a Shanghai-based exchange that accepts most fiat currencies in exchange for Bitcoin and Ether. LakeBTC project was started in early 2013 as a virtual bitcoin exchange initially for traders and other financial professionals interested in cryptocurrencies and blockchain technology. Later that year, the exchange was incorporated and operated under the current domain name. LakeBTC also provides bitcoin wallet service to all accounts. Users may choose to withdraw bitcoins to their own wallets or simply leave them in LakeBTC. To protect your fund, we implemented a number of rigorous mechanisms including SSL encryption, cold storage, 2-step verification, SMS withdrawal confirmation, and trade notifications.

50
D
$384,977,627$384.98M
<1%
0.01%
19
PLN, USD, EUR

BitBay was created in 2014 in Katowice, Poland. BitBay's goal was to create a platform that was not available on the Polish market - a professional and intuitive trading platform for buying and selling Bitcoins and Litecoins. BitBay also accepts USD and EUR in exchange for various major cryptocurrencies.

51
D
$360,358,388$360.36M
<1%
0.01%
14

YunEX.io is a blockchain company established in the British Virgin Islands (B.V.I). We are dedicated to providing digital assets exchange services for blockchain projects. YunEx has established its first overseas operations center in Hong Kong. Our team members are the technical product backbones of several exchanges overseas, with leading Internet product design strength, blockchain technology accumulation and successful digital asset exchange operation experience. YunEx was officially launched on June 6th, 2018.

52
D
$353,312,258$353.31M
<1%
0.01%
6
EUR, USD

itBit is America’s first crypto asset exchange targeted at financial institutions and professional active traders. It offers access to a global exchange, an OTC trading desk, Custody Services, and Escrow Services dealing in Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Stellar Lumens.

The exchange is the product of Paxos, a financial institution which has raised more than $93 million in venture funding since it was launched in Singapore in 2012. The company is based in New York City, with international offices in London and Singapore.

Paxos was co-founded by Chad Cascarilla, who in his early career was a portfolio manager at Claiborne Capital, having worked at both Bank of America Securities and Goldman Sachs. Fellow co-founder Richmond Teo has more than a decade of experience in analyzing and investing in public and private financial technology companies and was an analyst at Cedar Hill Capital Partners and Citibank.

In 2015, the New York State Department of Financial Services granted itBit a limited-purpose trust charter, establishing it as the first New York company approved and regulated to offer crypto products and services. In much the same way as a bank, Paxos is a trust company, meaning it can administer financial assets on behalf of a third party, and is said to be the first trust company to be created in New York since the financial crisis of 2008.

In 2019 itBit began to offer traders rebates, which play a key role in the maker-taker stock trading model dominating U.S. equities. With maker-taker, exchanges offer rebates to traders and brokers who add liquidity to their venues, whilst charging traders who take liquidity.

The system is not without controversy and is set to be reviewed by the Securities and Exchange Commission’s transaction fee pilot, which will examine the impact of rebates on the crypto market.

53
D
$331,377,957$331.38M
<1%
0.01%
22

Malta crypto company registered in MFSA Gov and legal to trading.

54
D
$319,796,638$319.80M
<1%
0.01%
375

Registered in the UK, Mercatox is a cryptocurrency exchange allowing traders to access popular coins like Bitcoin, Litecoin, and Ethereum, as well as an extensive list of other rarer cryptocurrencies.

Launched in 2016, it also provides an e-wallet for storing multiple digital currencies and has launched a peer-to-peer lending platform to allow investors to lend money to cryptocurrency traders. It can be accessed from a wide range of countries around the world, including the US, and accepts different fiat currencies such as USD, EUR, and RUB, but not GBP. It does not allow for credit card or bank transfer deposits, instead accepting payment methods from providers such as OKPay, Yandex.Money, QIWI, leading to much speculation that the exchange is based in Russia.

Mercatox imposes minimum limits on the amount you can deposit and withdraw, with restrictions varying depending on the currency. The exchange has had no major security issues. It was unsuccessfully targeted by hackers in October 2017 causing the website and platform to be down for a day or two, but the coins remained safe.

It is not licensed by the Financial Conduct Authority, nor by any other regulator and there is no publicly available information on its founders or the team behind it.

55
D
$284,937,443$284.94M
<1%
0.01%
1
JPY

BTCBox is a FSA licensed blockchain asset exchange from Japan. It offers Crypto-fiat exchange in Japanese Yen.

56
D
$280,091,611$280.09M
<1%
0.01%
48
EUR, USD, GBP +1

CoinDeal is a cryptocurrency market. The project is held by VerifiedSolutions software house known for products such as BuyCoinNow and BitcoinAPI. CoinDeal offers a transparent tool for every investor. Verified Solutions provides safety of every transaction.

57
D
$253,262,004$253.26M
<1%
0.01%
18
JPY

Zaif is a Japanese exchange that focuses on cyptocurrencies to JPY trading pairs with BTC/JPY fees at negative 0.01%. It also offers margin trading and future trading at 0% fees.

58
D
$244,708,355$244.71M
<1%
0.01%
107
KRW

GoPax is a South Korea-based exchange that offers users to trade various blockchain asset pairs with KRW, BTC and ETH. GoPax is founded by Streami, Inc, a company that specialises in blockchain technology, cross border remittances and cryptocurrency exchange with presence in Hong Kong and USA.

59
D
$239,169,778$239.17M
<1%
0.01%
35
KRW

Blockchain Finance platform

60
D
$130,456,436$130.46M
<1%
0.00%
7
TRY

Established in July 2013, the centralized digital asset exchange BtcTurk was the first cryptocurrency trading venue in Turkey and reportedly only the fourth in the world at the time. According to the Emre Kenci, CTO of BtcTurk, the team started working on the platform in January 2013, after they recognized the extreme potential behind Bitcoin. Their idea was to provide clients with an easy way to trade Lira for cryptocurrencies. However, soon after it was launched, on August 19, 2016, BtcTurk announced the closure of its corporate bank accounts. This was a consequence of Turkish regulatory authorities’ decision not to grant license over concerns of Bitcoin’s trustworthiness. The exchange started to restore users’ funds by August 22 the same year.

However, soon after, BtcTurk launched again and started to offer its clients the chance to trade Turkish Lira against BTC, ETH, XRP, USDT, LTC, XLM, and XRP. BtcTurk’s functionalities are well-developed with the only downsides that it does not accept PayPal payments, cash or credit card deposits. It only accepts fiat via wire transfer.

When it comes to security features, it is worth noting that BtcTurk employs two-factor authentication. The exchange says it stores 95% of its clients’ funds in cold storages with geographically distributed backups. As a matter of fact, in BtcTurk’s history, there haven’t been any major operational or security-related issues.

Over time, BtcTurk managed to establish itself as the most trusted cryptocurrency exchange in Turkey. However, it should be pointed out that, at the time of this writing, the exchange is yet to be regulated due to the Turkish government’s lack of cryptocurrency-related oversight frameworks. Yet, according to the trading platform, they are trying their best to keep their business as open and as transparent as possible. For example, it doesn’t allow anonymous trading. Each client should verify his/her identity with a valid ID document, a proof of address and a selfie.

At the time of writing, BtcTurk employs more than 90 people in the exchange’s headquarters in Istanbul. Almost half of them are working in the customer support department. This is one of the reasons why there are no major client complaints reported and most issues are usually resolved in time.

Whether it is about Turkey’s policy or the exchange itself, BtcTurk has always been subject to controversies like gossips for shutting down and periodical phishing attacks, targeted at the platform’s users from fake sites and applications. In a bid to bring more transparency and change the public opinion, BtcTurk appointed Ozgur Guneri as its new CEO. Guneri, an MBA from the London Business School, is known for his vast experience in the financial sector on positions like Vice General Manager, General Manager, Chief Investment Officer and a board member in Finansbank Group. He was also a CEO of Finansinvest. At the time of writing, alongside being a CEO of BtcTurk, Ozgur Guneri is also a CEO of BtcTrader, a blockchain development company.

61
D
$111,932,909$111.93M
<1%
0.00%
3
BRL

Mercado Bitcoin is a Brazil based crytocurrency exchange that caters for Brazilian citizens.

62
D
$91,479,484$91.48M
<1%
0.00%
64
USD

Crypto-One-Stop-Solution (COSS) is a fintech company that offers cryptocurrency exchange, wallet services and a merchant platform.

63
D
$90,402,267$90.40M
<1%
0.00%
9
USD

Neraex is a Japan based cryptocurrency exchange that allows user to trade blockchain assets with fiat money.

64
D
$75,183,667$75.18M
<1%
0.00%
7
EUR, IDR, MYR +3

Luno allows users to buy and sell Bitcoin and Ethereum with multiple fiat currencies and has an integrated wallet feature. Luno provides good security as Bitcoins are kept in multi-signatories cold and hot wallet that secures fund better. Users are also encouraged create 2FA for added layer of security.

65
D
$53,436,395$53.44M
<1%
0.00%
2
USD
66
D
$44,277,724$44.28M
<1%
0.00%
37

C2CX is a China-based 3rd generation digital asset exchange dedicated to providing liquidity, security and advanced functionality. C2CX is targeted towards traders and entities seeking to digitize their src/assets by using blockchain technology,making them both easily transferable and trackable on the Skyledger.

67
D
$42,678,517$42.68M
<1%
0.00%
612
USD, RUB, EUR +2

CREX24 is a new cryptocurrency exchange. The official CREX24 website was launched in 2017. In the wake of the growing popularity of digital currencies, we have been developing a convenient and functional trading platform. Cryptocurrencies are highly volatile – their value often changes. There is no centralized governamental cryptocurrency regulation, so their value largely depends on the demand and supply on the market. This makes cryptocurrencies an attractive asset for trading on the exchange market. Due to its popularity, the demand for cryptocurrency is increasing and it is growing in value. As such it is becoming a profitable long-term investment. New ways of spending digital currency are emerging, such as the purchase of goods and services. Thanks to fast payments, low fees and extra security, cryptocurrency represents a convenient way to make payments.

68
D
$35,331,983$35.33M
<1%
0.00%
30
AUD, NZD, USD

Based in Sydney since 2013, we are the largest Cryptocurrency Exchange in Australia. We trade 10 cryptocurrencies in AUD, USD and NZD

69
D
$31,914,695$31.91M
<1%
0.00%
5
KRW

Korbit is one of the first and largest Korean-based cryptocurrency exchange based on trade volume.

70
D
$31,546,177$31.55M
<1%
0.00%
8
HKD

Hong Kong best cryptocurrency trading platform, support trading between fiat to most major cryptos

71
D
$30,461,344$30.46M
<1%
0.00%
40
USD, EUR, RUB

Buy/Sell/Trade Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Classic, Dash, EOS, Monero, Ripple, Zcash

72
D
$26,309,396$26.31M
<1%
0.00%
25
INR
73
D
$21,601,131$21.60M
<1%
0.00%
28
KRW

Coinplug is a blockchain company founded in 2013. The company developed the first bitcoin ATM in Korea. Since 2013, Coinplug has been setting industry standards with products such as okBitCard (a prepaid card), a simple authentication process using a secret key, an international wire-transfer platform, and Fido-ledger, a private blockchain.

74
D
$20,497,288$20.50M
<1%
0.00%
6
THB
75
D
$17,362,282$17.36M
<1%
0.00%
9
AUD

CoinJar Exchange is an Australia based cryptocurrency exchange with support for Australian Dollars. CoinJar Exchange lists market pairs such as BTC/AUD, ETH/AUD, ETH/BTC, and more. It claims to execute trades with speed and agility, faster than any other digital currency exchange in Australia. CoinJar also offers brokerage and wallet service.

76
D
$16,468,487$16.47M
<1%
0.00%
21

A marketplace for valuable tokens to be listed and traded on the crypto-only exchange. The platform enables an easy transformation of any valuable offering into blockchain tokens, allowing companies and organizations to distribute & exchange their tokens.

77
D
$13,860,068$13.86M
<1%
0.00%
65

BitexLive provides a fast, dependable and user friendly trading platform for Bitcoin, Ethereum and other digital currencies on a professional exchange platform.

78
D
$13,585,057$13.59M
<1%
0.00%
19

Worldcore.trade is a cutting-edge cryptocurrency exchange platform developed by Worldcore - a licensed payment platform regulated by the National Bank of Czech Republic and operating since 2015. As of now, Worldcore offers the widest range of payment products for individuals, businesses, e-commerce and crypto community starting from multi-currency payment accounts and ending with wallets for Bitcoin, Ethereum, Dash and ERC20 tokens.

79
D
$12,853,534$12.85M
<1%
0.00%
1

Infinity is a brand new digital currency that allows individuals to make fast and secure transactions through a decentralised peer-to-peer network

80
D
$11,365,920$11.37M
<1%
0.00%
46
EUR

LiteBit is a Dutch based crytocurrency trading platform that is available in Europe.

81
D
$10,776,484$10.78M
<1%
0.00%
121

Bancor Network is a decentralised ERC-20 tokens trading platform. Bancor Protocol is a standard for Smart Tokens™, cryptocurrencies with built-in convertibility and continuous liquidity directly through their smart contracts.

82
D
$10,195,301$10.20M
<1%
0.00%
51

CoinPlace is the first world platform for direct P2P trading of ICO-tokens and cryptocurrencies. The platform allows a customer to purchase digital assets by crypto and fiat currencies.

83
D
$9,937,380$9.94M
<1%
0.00%
94
INR

WazirX is India's most trusted cryptocurrency exchange to buy, sell, and trade in Bitcoin, XRP, Ether, TRX and many more coins. It's simple and easy to use with real-time open order books, charts, trade history so you can trade and invest in some of the world's best performing digital assets. It's 100% secure!

84
D
$8,258,522$8.26M
<1%
0.00%
18

Cryptocurrency Exchange Coinbe is the best online service where you can sell and buy cryptocurrencies. We guarantee high transaction security. We offer very low and attractive fees. You choose how you want to receive a withdrawal. We offer exchange of a large number of cryptocurrencies .. You can exchange cryptocurrencies such as Bitcoin (BTC), Ethereum, Ethereum Classic, Monero, Dash, Litecoin, Dogecoin, Zcash, Bytecoin, Nem, Waves, Lisk, Golem, Swarmcity among others.

85
D
$6,040,519$6.04M
<1%
0.00%
77

TradeOgre provides crypto-crypto trading services that gives users options to trade up to 28 crypto pairs. It has a simple interface and competitive fees.

86
D
$5,297,004$5.30M
<1%
0.00%
673

Coinexchange.io is a cryptocurrency only exchange that supports a myriad of altcoins.

87
D
$5,243,167$5.24M
<1%
0.00%
342
USD

SouthXchange is an Argentina-based cryptocurrency exchange. SouthXchange is a currency management platform built and operated by PRO-Systems.

88
D
$5,059,144$5.06M
<1%
0.00%
4
UAH

Kuna is an Ukrainian based exchange that allows users to buy/sell cryptocurrencies with fiat money.

89
D
$4,649,427$4.65M
<1%
0.00%
348

CryptoBridge is a decentralised cryptocurrency exchange (DEX) that supports a myriad of altcoins without a single point of failure. It runs on top of the BitShares Network.

90
D
$3,587,109$3.59M
<1%
0.00%
19

CoinFalcon is a London-based exchange that is designed to facilitate instantaneous trading with a competitive fee structure. Users can buy/sell cryptocurrencies under "Instant" or "Advanced Exchange" mode. It currently offers a large range of trading pairs with Bitcoin and Ethereum.

91
D
$3,566,928$3.57M
<1%
0.00%
493

TradeSatoshi is a UK based cryptocurrency trading platform for a large myriad of altcoins.

92
D
$3,504,879$3.50M
<1%
0.00%
7

NovaDAX is a global leading crypto trading exchange, providing various crypto trading services to global advanced traders. As an international exchange with world-class team members around the world, NovaDAX raised $20M in a Series A funding from a global leading technology company -Abakus Group. Brazil is the first market that NovaDAX arrived which serves as the headquarter of NovaDAX Latin America. NovaDAX Brazil provides a wide range and various crypto trading products to meet your different needs, including basic fiat-crypto trading, crypto-crypto experienced trading, crypto-crypto pro, crypto leverage trading etc. No matter you are a professional trader or a crypto trading new comer, you will find your suitable trading products in NovaDAX.

93
D
$2,063,433$2.06M
<1%
0.00%
76

ForkDelta is a decentralized Ethereum Token Exchange with the most ERC20 listings of any exchange. ForkDelta currently acts as an open source, updated interface for EtherDelta's smart contract with an active and public development team.

94
D
$2,027,703$2.03M
<1%
0.00%
5
SGD, USD

CRXzone is a Singapore based cryptocurrencies exchange and wallet platform where merchants and consumers can transact with digital currencies like bitcoin, litecoin, etc.

95
D
$1,922,980$1.92M
<1%
0.00%
1
EUR
96
D
$1,754,837$1.75M
<1%
0.00%
9
97
D
$1,679,897$1.68M
<1%
0.00%
27

Vinex is a Singapore based crypto exchange which was created by the same board of directors and management as Midas Protocol, a decentralized portfolio and asset management platform. The allows for the trading of a number of coins including Bitcoin, Ethereum, and Tether.

$MAS is utility token for the Midas Ecosystem, is included subscription package in Midas Wallet, and is the base token for Vinex. Vinex claims to have only selected special coins for its platform based on technical innovation & merit. Its states that it will only list cryptocurrencies that it believes will change the world or that exist on blockchains built from scratch.

The Midas Protocol platform funds the Midas Foundation which was set up to provide kickstarter funding for artificial intelligence, robotics and Internet of Things (IOT) projects. Midas stated in its whitepaper that it will donate funds to a range of charitable causes including sustainable farming and poverty alleviation.

Claiming to process 500,000 orders per second, the majority of Vinex’s customer deposits are stored offline in air-gapped cold storage, with the exchange only keeping enough online to facilitate active trading.

Vietnamese co-founder, Phillip Phung, held previous positions as a country consultant at Google and a business analyst at Toyota. As well as Vinex and Midas Protocol, he founded MCashChain, a decentralized social e-payment platform.

The second co-founder, Dr. David Nguyen Vu, previously worked in the plastics industry, holding a position as a senior development engineer at The Dow Chemical Company, and as general manager at Duc Anh Packaging.

98
D
$562,494$562,494
<1%
0.00%
14
ZAR
99
D
$439,449$439,449
<1%
0.00%
12
EUR, USD, GBP

Coinsbank is a financial institution, as well as a secure online platform for buying, selling, transferring, and storing cryptocurrencies.

100
D
$371,838$371,838
<1%
0.00%
362

Nova Exchange is a cryptocurrency exchange platform with a wide range of cryptocurrencies that hosts the most important market players.

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