Choosing the right cryptocurrency exchange is one of the most critical decisions for both new and experienced investors. With the growing popularity of digital assets like Bitcoin and Ethereum, selecting a secure, reliable, and user-friendly platform can significantly impact your investment safety and profitability.
This comprehensive guide evaluates the top 20 global cryptocurrency exchanges based on key metrics including trading volume, security, supported currencies, fee structure, customer support, and accessibility in regions like Taiwan. Whether you're focused on spot trading or advanced derivatives such as futures contracts, this article helps you make an informed decision.
We rely on data from trusted sources like CoinMarketCap and Kaiko, updated to reflect current market dynamics in 2025.
Spot Trading vs. Derivatives: Understanding the Difference
Before diving into exchange rankings, it’s important to understand two primary trading types:
- Spot Trading: Buying and selling actual cryptocurrencies (e.g., BTC, ETH) at current market prices. Ideal for long-term holders and beginners.
- Derivatives Trading: Involves leveraged products like futures, options, and perpetual contracts. Allows traders to profit from price movements without owning the underlying asset—suited for active traders.
Top 20 Cryptocurrency Exchanges (Spot Trading)
The following list ranks exchanges by 24-hour spot trading volume, reflecting liquidity and user trust. High trading volume ensures faster order execution and tighter spreads.
- Binance – $21 billion
- Coinbase – $2.6 billion
- OKX – $2.3 billion
- Kraken – $1.5 billion
- Bybit – $800 million
- KuCoin – $1.6 billion
- Bitfinex – $500 million
- Bitstamp – $180 million
- HTX (formerly Huobi) – $520 million
- Gate.io – $710 million
- BitMEX – $320 million
- Gemini – $30 million
- Bitflyer – $60 million
- Bithumb – $190 million
- Bitget – $830 million
- Binance.US – $160 million
- LBank – $850 million
- Crypto.com – $150 million
- MEXC – $610 million
- BingX – $490 million
💡 Note: Binance dominates the market with over 50% of global crypto trading volume, according to Kaiko research. Its scale offers unmatched liquidity and reliability.
For users in Taiwan or Mandarin-speaking regions, prioritize platforms that offer full Chinese language support, local banking integration, and regulatory compliance.
Binance Dominates Global Crypto Market
Binance isn’t just number one—it’s a powerhouse. Since its launch in 2017, it has grown to serve over 120 million users worldwide, offering more than 350 cryptocurrencies and 24-hour trading volume exceeding $76 billion across all products.
Its international platform supports residents from Taiwan, Hong Kong, Malaysia, and many other countries. With subsidiaries regulated in France, Japan, and other jurisdictions, Binance combines global reach with increasing compliance standards.
Core features include:
- Spot & margin trading
- Staking and lending
- NFT marketplace
- Launchpad (IEO) participation
- DeFi integrations
For active traders, Binance remains the top choice due to its robust infrastructure and low fees.
Top Cryptocurrency Exchanges for Derivatives Trading
While spot trading focuses on ownership, derivatives allow speculation using leverage—sometimes up to 125x. These are popular among experienced traders seeking amplified returns.
Here are the leading platforms by 24-hour derivatives trading volume:
| Rank | Exchange | Derivatives Volume (24H) | Max Leverage | Fee (Taker/Maker) |
|---|---|---|---|---|
| 1 | Binance | $20.8 billion | 125x | 0.040% / 0.020% |
| 2 | OKX | $6.8 billion | 120x | 0.050% / 0.020% |
| 3 | Bybit | $4.2 billion | 100x | 0.060% / 0.010% |
| 4 | KuCoin | $900 million | 100x | 0.060% / 0.020% |
| 5 | HTX | $1.1 billion | 100x | 0.040% / 0.020% |
According to Kaiko, Binance controls 62% of the perpetual futures market, especially after FTX’s collapse in late 2022.
✅ Recommendation: For derivatives trading, stick to Binance > OKX > Bybit for optimal security, liquidity, and feature depth.
👉 Access high-leverage crypto derivatives with competitive fees on a trusted global platform.
Four Major Taiwan-Based Crypto Exchanges Compared
Taiwan-based exchanges offer unique advantages: TWD deposits/withdrawals, local bank custody (e.g., Far Eastern Bank), and easier KYC for residents.
However, they typically lack derivatives and have lower liquidity compared to global giants.
| Exchange | MAX (MaiCoin) | BitPro | ACE | BITGIN |
|---|---|---|---|---|
| Established | 2018 | 2018 | 2018 | 2020 |
| TWD Support | Yes | Yes | Yes | Yes |
| Derivatives | No | No | No | No |
| Trading Fees (Taker) | 0.15% | 0.2% | 0.1% | 0.25% |
| Supported Coins | 33 | 24 | 59 | 3 |
| Custody Bank | Far Eastern Bank | Far Eastern Bank | KGI Bank | KGI Bank |
MAX leads in trading volume and reputation within Taiwan, while ACE offers more altcoins despite lower liquidity.
Many Taiwanese investors use local exchanges to buy crypto with TWD, then transfer assets to Binance or OKX for advanced trading.
Global Top 10 Crypto Exchanges: In-Depth Overview
1 Binance – The Industry Leader
As mentioned, Binance leads in nearly every category: user base, trading volume, product range, and innovation. It supports spot, futures, staking, DeFi yield farming, NFTs, and more.
Its native token BNB reduces trading fees by up to 25%, adding long-term value for frequent traders.
2 Coinbase – U.S.-Regulated & Transparent
Founded in 2012 and publicly traded on NASDAQ (COIN), Coinbase is one of the most compliant exchanges globally. It’s ideal for users prioritizing regulation over advanced features.
However:
- No native support for Chinese interfaces (app only)
- Limited to spot trading
- Higher fees than competitors
Best used as a secure wallet or cold storage alternative, rather than a primary trading hub.
3 OKX – Innovation in Derivatives & DeFi
OKX ranks among the top three in derivatives volume and is known for pioneering early crypto futures products. It supports up to 120x leverage, copy trading, grid bots, and its own blockchain (OKX Chain).
With strong security audits and transparent proof-of-reserves, OKX appeals to both retail and institutional traders.
4 Kraken – Security-Focused Veteran
Launched in 2011, Kraken has never suffered a major hack—a rare achievement in crypto history. It was the first exchange listed on Bloomberg Terminal.
Pros:
- Strong regulatory compliance
- Clean UI
- Supports staking
Cons:
- Limited leverage (up to 5x)
- Higher fees
- Fewer altcoins
Ideal for conservative investors valuing safety above all.
5 Bybit – Built for Contract Traders
Bybit targets users familiar with CFDs or forex trading. It offers a clean interface, deep liquidity, and aggressive referral bonuses.
Key strengths:
- Up to 100x leverage
- Negative balance protection
- Generous welcome bonuses
A top contender against Binance in Asia-Pacific markets.
6–#10: KuCoin, Bitfinex, Bitstamp, HTX, Gate.io
These platforms vary in focus:
- KuCoin: "People's Exchange" with wide altcoin selection
- Bitfinex: Institutional-grade tools; linked to USDT issuer Tether
- Bitstamp: Europe’s oldest regulated exchange
- HTX: Formerly Huobi; strong historical presence but declining volume
- Gate.io: Claims 100% reserve audits; expanding in Southeast Asia
While functional, they generally fall short of Binance/OKX/Bybit in performance and innovation.
How to Choose a Cryptocurrency Exchange: Key Tips
✅ Prioritize Security & Reputation
Always choose platforms ranked in the top 20 by CoinMarketCap or CoinGecko. Avoid unknown or newly launched exchanges promising “zero fees” or “guaranteed returns.”
Stick with:
- Binance
- OKX
- Bybit
- Kraken
- MAX (for Taiwan users)
🔐 Remember: Over 80% of all crypto trading volume occurs on just five platforms.
✅ Compare Fees & Supported Assets
Low fees matter—especially for high-frequency traders.
Look for:
- Maker/taker fee below 0.1%
- Discounts via platform tokens (e.g., BNB, OKB)
- Wide selection of tradable coins
Avoid being lured by “zero fee” claims from obscure platforms—they may be exit scams.
✅ Test User Experience & Language Support
A good exchange should be easy to navigate in your preferred language.
For Mandarin speakers:
- Binance: Full Traditional/Simplified Chinese
- OKX: Full Chinese interface
- Bybit: Full support
- MAX: Optimized for Taiwan users
Frequently Asked Questions (FAQ)
Q: Is Binance safe to use in Taiwan?
A: Yes. While Binance doesn’t have a local entity in Taiwan, its international platform is accessible and widely used by Taiwanese investors for spot and derivatives trading.
Q: Can I buy Bitcoin with New Taiwan Dollar (TWD)?
A: Yes—through local exchanges like MAX, BitPro, or ACE—which support bank transfers in TWD—and then transfer BTC to global platforms if needed.
Q: Which exchange has the lowest fees?
A: Binance and OKX offer some of the lowest fees (as low as 0.08% with discounts). Using BNB or OKB further reduces costs.
Q: What is the best exchange for beginners?
A: For simplicity and safety: MAX or Coinbase. For full features: start with Binance or OKX using small amounts.
Q: Are leveraged contracts legal in Taiwan?
A: There’s no explicit ban, but local exchanges don’t offer them. Many users access overseas platforms like Binance or Bybit for contract trading.
Q: Should I keep crypto on an exchange?
A: Only for active trading. For long-term storage, use hardware wallets (e.g., Ledger) or cold storage solutions.
Final Thoughts
When entering the world of cryptocurrency, your choice of exchange shapes your entire experience—from fund safety to profit potential.
For most users:
- Use Taiwan-based exchanges (MAX, ACE) to buy crypto with TWD.
- Transfer assets to global leaders like Binance or OKX for advanced trading.
- Always enable two-factor authentication (2FA) and monitor account activity.
With proper research and risk management, you can confidently navigate the evolving crypto landscape.
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