Crypto Trading Platforms

Phemex: User-Friendly Platform for Derivatives Traders

Phemex is a user-friendly crypto exchange that offers comprehensive spot and derivatives trading features. If anyone want to trade spot and derivatives assets and also want to obtain leverage for their investment, Phemex would be the top choice for them. Users can trade some assets with up to 100x leverage while taking benefit of user-friendly interface. Unlike other specialized derivatives trading platforms like Deribit, this platform also provides DeFi earning products such as staking products.

Launched in 2019, Phemex is one of the fastest growing crypto exchange that developed a comprehensive ecosystem of financial services. Its ecosystem includes not only spot and derivatives trading but also unique features such as trading bots and DeFi products, making it a versatile choice for both trading and DeFi investments.

Pros and Cons

Pros	Cons
Around 340 spot trading and 376 contract trading pairs	Limited regulatory oversight
Up to 100x leverage on certain assets	Restricted in some countries
Several trading bots available
Flexible and locked staking products
Simulated trading feature for derivatives products

Trading Fees

Phemex charges decent fees for spot and derivatives trading. Users can become VIP members to get further fee discounts. With the taker/maker fee structure, takers pay slightly higher fees. Here’s the fee structure for spot trading:

User Level	Last 30d Spot Trading Volume (USD)	Maker Fee	Taker Fee
Standard	[0.0000, 800.00K)	0.1000%	0.1000%
VIP1	[800.00K, 1.80M) & API ≤ 20%	0.0900%	0.1000%
VIP2	[1.80M, 2.50M) & API ≤ 20%	0.0500%	0.0700%
VIP3	[2.50M, 4.50M) & API ≤ 20%	0.0450%	0.0650%
VIP4	[4.50M, 8.00M) & API ≤ 20%	0.0400%	0.0600%
VIP5	[8.00M, 15.00M) & API ≤ 20%	0.0350%	0.0550%
Star VIP	[15.00M, ~∞) & API ≤ 20%	0.0000%	0.0400%
Pro1	[800.00K, 15.00M) & API > 20%	0.0600%	0.0800%
Pro2	[15.00M, 30.00M) & API > 20%	0.0400%	0.0600%
Pro3	[30.00M, 100.00M) & API > 20% & 70% Maker	0.0300%	0.0500%
Pro4	[100.00M, ~∞) & API > 20% & 70% Maker	0.0000%	0.0450%

Here’s the fee structure for derivatives trading:

User Level	Last 30-day Volume (USD)	Maker Fee	Taker Fee
Standard	[0.0000, 8.00M)	0.0100%	0.0600%
VIP1	[8.00M, 18.00M) & API ≤ 20%	0.0080%	0.0550%
VIP2	[18.00M, 45.00M) & API ≤ 20%	0.0060%	0.0500%
VIP3	[45.00M, 85.00M) & API ≤ 20%	0.0040%	0.0450%
VIP4	[85.00M, 180.00M) & API ≤ 20%	0.0020%	0.0375%
VIP5	[180.00M, 380.00M) & API ≤ 20%	0.0010%	0.0350%
Star VIP	[380.00M, ~∞) & API ≤ 20%	0.0000%	0.0300%
Pro1	[8.00M, 100.00M) & API > 20%	0.0000%	0.0475%
Pro2	[100.00M, 380.00M) & API > 20%	0.0000%	0.0450%
Pro3	[380.00M, 1.50B) & API > 20% & 70% Maker	0.0000%	0.0350%
Pro4	[1.50B, ~∞) & API > 20% & 70% Maker	0.0000%	0.0325%

Trading Experience

The trading interface is intuitive and well-organized, providing access to spot and leveraged trading positions. There are fewer order types including limit, market and conditional orders. But the conditional type comes with limit or market options, allowing more customization of trading strategy compared to only limit or market types. Trading bots are accessible through separate platform which currently provides four bots including spot grid, futures grid, futures martingale and signal bot. These bots can help traders execute custom strategies, allowing them to capitalize on crypto market. Interestingly, trading bots offer both manual and AI recommended configurations for setting the trading strategy.

Derivatives trading platform offers the same order types with an additional type known as a Order. Traders can access normal or leveraged trading position and also select trading bot option within this platform.

Other Features

One of the prominent features is Phemex lending protocol which allows users to borrow or lend cryptocurrencies. Lenders can deposit assets, which are used to fund the borrowers and in return, lenders earn interest. Users can also lend stablecoins like USDT and USDC.

Another interesting feature is the PT token, which is the native coin of the Phemex platform. It offers several benefits, including trading fee discounts, staking rewards, DAO governance, VIP privileges, and more.

Customer Service & Satisfaction

Phemex provides customer support through several channels including email, live chat and help centre. Users can contact the customer service representatives to solve any issues they face. The FAQ section provides extensive educational resources, aiming to provide necessary information about topics related to trading and platform usage.

Phemex did not get good reviews on Trust Pilot. With around 183 reviews, Phemex received an overall rating of 2.1 out of 5. Customers with bad experiences complain about frozen funds, withdrawal issues, and unresponsive customer support. On the other hand, customers with good experiences admire user-friendly interfaces, low fees, advanced trading tools, and security measures.

Company Overview

Jack Tao founded Phemex in 2019 to offer financial services based on blockchain technology. While the company values simplicity of use, it also offers advanced trading tools such as trading bots and other features. Phemex provides both spot and derivatives trading services and allows leveraged investments, enabling traders to grow their crypto portfolios. Initially positioned as a professional derivatives exchange, Phemex later introduced spot trading services. The platform has successfully grown a large user base through its offerings, which include trading services and other blockchain-based products such as DeFi. Phemex also emphasizes security and has implemented measures like cold storage and regular security audits to ensure the protection of users’ funds.

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Bybit: Comprehensive Platform for Derivatives and Spot Trading

Bybit is a popular crypto exchange that provides comprehensive services for spot and derivatives traders. It also provides advanced trading tools such as trading bots, OTC trading service, and demo trading, allowing traders to manage their crypto portfolio effectively. Additionally, traders can also take advantage of staking and structured products to earn passive income with their crypto holdings.

The platform was officially launched as a cryptocurrency derivatives exchange in 2018 and later it introduced spot trading services. With more updates such as introduction of new spot trading assets and trading bots, ByBit now has all the features needed by both spot and derivatives traders.

Pros and Cons

Pros	Cons
More than 500 spot assets	Can be difficult for beginners
Wide range of derivatives products
Copy trading and automated trading also available
Staking and structured products for earning passive income

Trading Fees

Bybit offers a competitive fee structure where taker pay slightly higher fees compared to maker. The fees are low for both spot and derivatives assets compared to many other crypto exchanges. Users can get further discounts by becoming VIP members which requires meeting certain criteria such as a certain trading volume requirement. Here’s the fee structure:

VIP Level	Spot Trading*		Perpetual & Futures Contracts Trading		USDC Options Trading
Taker Fee Rate	Maker Fee Rate	Taker Fee Rate	Maker Fee Rate	Taker Fee Rate	Maker Fee Rate
VIP 0	0.1000%	0.1000%	0.0550%	0.0200%	0.0200%	0.0200%
VIP 1	0.0800%	0.0675%	0.0400%	0.0180%	0.0200%	0.0150%
VIP 2	0.0775%	0.0650%	0.0375%	0.0160%	0.0200%	0.0150%
VIP 3	0.0750%	0.0625%	0.0350%	0.0140%	0.0200%	0.0150%
VIP 4	0.0600%	0.0500%	0.0320%	0.0120%	0.0180%	0.0150%
VIP 5	0.0500%	0.0400%	0.0320%	0.0100%	0.0150%	0.0100%
Supreme VIP	0.0450%	0.0300%	0.0300%	0.0000%	0.0150%	0.0020%
Pro 1	0.0600%	0.0400%	0.0320%	0.0100%	0.0180%	0.0150%
Pro 2	0.0500%	0.0300%	0.0320%	0.0050%	0.0150%	0.0100%
Pro 3	0.0400%	0.0200%	0.0275%	0.0000%	0.0150%	0.0020%
Pro 4	0.0300%	0.0150%	0.0240%	0.0000%	0.0100%	0.0020%
Pro 5	0.0200%	0.0100%	0.0210%	0.0000%	0.0100%	0.0000%

Trading Experience

The trading platform provides a comprehensive set of tools for trading crypto assets. The platform is integrated with TradingView, allowing users to access TradingView charts directly within Bybit. Additionally, users have the option to use Bybit’s standard charting tools as well. Users can create spot trading or margin trading positions and select a wide range of order types including limit, market, conditional, OCO, trailing stop and TP/SL. Moreover, users can also navigate to OTC service, and auto-investment feature by selecting the Tools section.

Bybit offers a diverse range of trading bots including spot grid, futures grid, futures martingale, futures combo and DCA bot. These bots enable users to set advanced trading strategies by using AI or manual configurations. Overall, ByBit offers all the tools and resources that spot and derivatives traders need to successfully execute trades.

Other Features

One of the unique features is ByBit Earn, an integrated platform that offers several financial services such as flexible or locked staking, dual investment, ETH 2.0 staking, liquidity mining and others, allowing users to earn passive income using their crypto. There are several DeFi products for each cryptocurrency, providing multiple options for earning rewards. For example, you can use ETH in staking, savings product, dual asset and liquidity mining, each of which offers a different APR rate depending on the strategy involved. Dual asset, which provides the highest APR rate, is a non-principal protected investment product that allows users to capitalize on price movements by predicting direction of given crypto asset within a timeframe. But this feature may not be suitable for beginners.

Customer Service & Satisfaction

Bybit provides several channels for customer support including email, request form, and help centre. The help centre provides self-service, offering multiple resources that customers can utilize to solve problems on their own. The educational resources provided by ByBit cover all aspects of trading and related topics, allowing customers to handle various situations.

Unfortunately, Bybit did not get good reviews on Trustpolit. There 1373 reviews which makes its overall rating of 1.5 out of 5. Most of the customers complain about issues with P2P transactions, poor customer support, difficulty accessing funds, and problems with fiat deposits. On the other hand, customers with good experiences praise the leverage trading feature, fast trade execution, and order types.

Company overview

Bybit was founded in 2018 by Ben Zhou, who has a background in the forex industry. Since its launch, Bybit has established itself as a prominent cryptocurrency derivatives exchange, offering a range of trading tools and assets. The company has implemented various security measures, including cold storage for assets and advanced data encryption, to protect user funds.

Bybit is also regulated in some regions. In 2022, Bybit expanded its services by introducing its own Web3.0 wallet and spot trading services, which contributed to a growth in its user base. The platform focuses on providing comprehensive trading tools and portfolio management features for investors. Currently, Bybit is headquartered in the United Arab Emirates (UAE).

BitMEX: High-Leverage Crypto Derivatives Exchange

BitMEX is a popular derivatives exchange known for offering up to 100x leverage on certain products, enabling users to amplify potential returns on their investments. The platform supports a range of derivatives products and provides sophisticated trading tools, allowing users to execute custom strategies while benefiting from deep liquidity and low trading fees. The trading interface is fully customizable to suit the preferences of traders.

Launched in 2014, BitMEX has become a leading derivatives exchange with high trading volume. In 2016, it introduced perpetual swap contracts with up to 100x leverage. The platform also has a native token, BMEX, which serves as a utility token, offering discounts on trading fees.

Pros and Cons

Pros	Cons
Wide range of derivatives products	Not available in U.S.
Up to 100x leverage on some products
Low trading fees
BMEX token can give discounts on fees

Trading Fees

BitMEX utilizes taker/maker fee structure for both spot and derivatives trading. For spot trading, makers and takers pay 0.10% fees. On the other hand, fees for derivatives trading depends on monthly trading volume and amount of BMEX staked. The higher the amount of staked BMEX, higher the discounts on fees. Here’s the fee structure for derivatives trading:

Fee Tier	30D Rolling Average Daily Volume (USD)	Taker Fee (XBT)	Maker Fee (XBT)	Taker Fee (USDT)	Maker Fee (USDT)
B	0	0.0750 %	0.0200 %	0.0750 %	-0.0150 %
I	1,000,000	0.0500 %	0.0100 %	0.0500 %	-0.0150 %
T	5,000,000	0.0400 %	0.0000 %	0.0400 %	-0.0150 %
M	10,000,000	0.0350 %	0.0000 %	0.0350 %	-0.0150 %
E	25,000,000	0.0300 %	0.0000 %	0.0300 %	-0.0150 %
X	50,000,000	0.0250 %	0.0000 %	0.0250 %	-0.0150 %
D	100,000,000	0.0240 %	-0.0030 %	0.0240 %	-0.0150 %
W	250,000,000	0.0230 %	-0.0050 %	0.0230 %	-0.0150 %
K	500,000,000	0.0220 %	-0.0080 %	0.0220 %	-0.0150 %
S	1,000,000,000	0.0175 %	-0.0100 %	0.0200 %	-0.0150 %

Trading Experience

BitMEX provides a well-organized trading interface which includes price chart, depth chart, order book, recent trades section, news feed and order form. Users can move these sections and adjust them based on their preferences. They can also utilize several charting tools and indicators for technical analysis. Both individual and institutional traders can easily use the trading platform for their trading strategies.

You can access a wide variety of derivatives products and trade certain products with up to 100x leverage. You can also trade 14 spot trading pairs and take benefit of high liquidity.

Other Features

While BitMEX enables a smooth trading experience through better liquidity and latency, it also provides other unique features such as BMEX token which serves as its native token. It was launched in November 2022 to provide discounts on trading fees, staking rewards and certain VIP privileges. At the maximum level, users can get 15% taker fee discount or 0.004% maker fee reduction.

Moreover, BitMEX provides Guilds, a Social Trading Platform, that allows collaboration and community engagement between the BitMEX traders. Users can also create their own groups or Guilds, that can help enable collaboration between traders.

Customer Service and Satisfaction

BitMEX provides customer support through several channels including email, support request and FAQ section. Users can submit request if they have specific problems or issues related to the platform. They can use FAQ section to learn about trading, and other topics. The extensive educational resources can be very helpful if you have any queries.

BitMEX got 12 reviews on G2, which gives it an overall rating of 3.1 out of 5. Many customers admire features such as 100x leverage, user-friendly interface, low fees and overall smooth trading experience. Some customers also complain about trading system freezing, and complex interface. Customers have varying experiences with some having a smooth trading experience while other facing problems in the process.

Company Overview

BitMEX is one of the oldest derivatives exchanges developed in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed. The platform gained significant popularity due to its advanced trading tools and features. Initially, platform focused on BTC derivatives contracts, but later added other products such as perpetual swap contracts. In 2022, it launched spot trading feature and BMEX token which provided several advantages to old users and also grew user base. While the exchange remains unregulated in several regions such as U.S., it is generally considered to be a secure platform, with a proof-of-reserve system. The company is currently based in Seychelles.

Deribit: Advanced Derivatives Exchange

Deribit is a leading derivatives exchange that allows users to trade a wide range of derivatives products, including futures, perpetuals, and options contracts, with deep liquidity. Advanced tools such as the Option Wizard, Position Builder, and Deribit Metrics enable traders to manage their crypto portfolios effectively. The platform also offers a testnet feature, allowing beginners to simulate trading scenarios to gain experience.

Deribit was one of the first platforms to offer Bitcoin options trading. Since its launch in 2016, it has grown to hold the largest share of the global Bitcoin Options market. The platform is suitable for both individual and institutional investors. Deribit also maintains a strong focus on security, offering robust security measures and proof-of-reserves.

Pros and Cons

Pros	Cons
Wide range of derivatives products such as futures, perpetuals and options contracts	Not available in U.S. and Canada
Powerful trading tools
Zero-fee spot trading
Deep liquidity for facilitating trades

Trading Fees

Deribit officially launched its spot trading feature on April 24, 2023, introducing three trading pairs: BTC/USDC, ETH/USDC, and ETH/BTC. For these spot trading pairs, Deribit does not charge any trading fees. However, for derivatives trading, the platform utilizes a maker/taker fee structure, where takers pay higher fees compared to makers.

Contracts	Maker Fee	Taker Fee
BTC Weekly Futures	-0.01%	0.05%
ETH Weekly Futures	-0.01%	0.05%
BTC Futures & Perpetual	0.00%	0.05%
ETH Futures & Perpetual	0.00%	0.05%
USDC Perpetuals	0.00%	0.05%
BTC Options	0.03% of the underlying or 0.0003 BTC per options contract	0.03% of the underlying or 0.0003 BTC per options contract
ETH Options	0.03% of the underlying or 0.0003 ETH per options contract	0.03% of the underlying or 0.0003 ETH per options contract
USDC Linear Options	0.0001 * index price (Capped at 12.5% premium)	0.0005 * index price (Capped at 20% premium)

Trading Experience

Deribit offers advanced tools like the Option Wizard, Position Builder, and Testnet to help traders in managing their crypto portfolios. The platform provides high-speed trading with deep liquidity, and the interface is customizable, allowing users to rearrange sections like charts, order books, order forms, and trade history to fit their preferences. Charts come with multiple customization options and technical indicators.

Deribit supports a wide range of order types, including limit, market, stop limit, and trailing stop orders, along with stop loss and take profit options for more sophisticated trading strategies. The Option Wizard helps users identify optimal options trading strategies based on price predictions, while the Position Builder allows for the construction and analysis of strategies before execution. The Testnet feature offers a simulated trading environment, perfect for testing strategies without financial risk.

Other Features

Apart from derivatives trading, Deribit also offers spot trading, supporting 11 trading pairs and 8 coins. The spot trading feature was launched on April 24, 2023, initially with three pairs. Traders pay no fees for spot trading. They can access the same trading interface, with identical order types and stop loss and take profit options, allowing them to take advantage of the spot market. Here are the trading pairs:

• XRP/USDC
• USDC/USDT
• STETH/USDC
• STETH/ETH
• SOL/USDC
• MATIC/USDC
• ETH/USDT
• ETH/USDC
• ETH/BTC
• BTC/USDT
• BTC/USDC

Customer Service and Satisfaction

Deribit offers customer support through multiple channels, including live chat, email, and Telegram, and provides educational resources focused on derivatives trading and platform tools. Deribit has a mix of reviews on TrustPilot, which makes overall rating of 3.3 out of 5 from 14 reviews. Many users praise the platform for its high liquidity, smooth trading experience, and fast trade execution. However, some customers express dissatisfaction with issues such as lost funds and the quality of customer support.

Company Overview

Launched in 2016, Deribit initially focused on providing advanced trading tools and services for cryptocurrency derivatives. In 2023, the platform expanded its services to include zero-fee spot trading. Deribit is recognized as one of the largest derivatives exchanges by trading volume. The platform has implemented robust security measures, including a proof-of-reserves system, to ensure the safety of users’ funds. Additionally, Deribit offers customer support through multiple channels, allowing users to address queries or issues effectively.

How Derivatives Trading Works

Derivatives trading involves buying or selling of financial contracts which derive their value from performance of underlying assets like Bitcoin (BTC). Unlike spot trading where traders buy or sell the assets, derivatives trading allows traders to speculate on the future price movements of asset without directly owning it.  BTC futures contract is a popular derivative used for trading, allowing traders to speculate on the future price of BTC. It can generate profit or loss depending on market conditions and price movements of BTC.

There are certain terms to consider when trading futures contracts, such as futures price, contract size, underlying asset, and expiration date. When a trader buys a BTC futures contract, he is agreeing to buy or sell the BTC at predetermined price known as futures price upon the contract expiration. Traders have two options: they can either sell the contract before the expiration date to close their position or allow the contract to be automatically settled at expiration.

At the time of buying contract, you do not own the underlying BTC. Instead, you are entering into an agreement to buy Bitcoin at a predetermined futures price at the contract’s expiration. You can close your position by selling the contract before expiration. Your profit or loss depends on the difference between the futures price (the price at which you agreed to buy BTC) and the market price of BTC at the time you close the contract or at expiration.

Selecting the Best Derivatives Exchange

Many crypto exchanges support both spot and derivatives trading though not all derivatives products may be available on every platform. When selecting a crypto exchange specifically for derivatives trading, consider several key factors: platform security, trading tools, risk management tools like stop-loss orders, leverage options, portfolio management features, and supported contracts. Risk management tools such as stop-loss orders, are very helpful when trading contracts. Additionally, analytics tools play a crucial role in making informed trading decisions. This review explores the top derivatives exchanges with robust security features, and comprehensive trading tools.

1. Deribit

Deribit is a sophisticated derivatives exchange designed to streamline derivatives trading by offering advanced tools. It provides a diverse range of derivatives products including futures, perpetuals, and options contracts, and known to have the largest share in BTC options market. Deribit’s Options Wizard is an innovative tool that helps users find the best options trading strategy based on their price prediction. Another valuable tool is position builder which allows users to create and view multiple portfolios, enabling the execution of advanced trading strategies.

In addition to derivatives trading, Deribit supports spot trading for users who want to swap cryptocurrencies. The platform offers deep liquidity for both spot and derivatives assets, enhancing trading efficiency. To build trust and ensure security, Deribit has implemented a proof of reserves system and has earned an ISO security certificate, reflecting its commitment to robust security practices.

• BitMEX

BitMEX is a professional derivatives exchanges that provides deep liquidity for several contracts. Features such as fee discounts, and VIP services make this platform an attractive option for both spot and derivatives traders. The transaction fees are low compared to most of the derivatives exchanges. Users can get further discounts on fees by using BMEX, the native coin of BitMEX ecosystem.

Although the platform was launched in 2014, it introduced more features which expanded the BitMEX ecosystem. In 2016, it launched BTC perpetual swap contracts, leverage options, advanced order types, and introduced BMEX token in 2021. Interestingly, platform offers 100x leverage on some of its derivatives products.

• Bybit

Bybit is a versatile cryptocurrency exchange offering a diverse range of spot and derivatives assets. Users can efficiently trade both spot assets and derivatives contracts, benefiting from advanced tools such as a unified trading account and various order types, including limit and conditional orders. The platform provides up to 100x leverage on perpetual contracts, allowing traders to amplify their positions. Bybit’s unified trading account enables users to execute options, perpetuals, and futures strategies seamlessly.

For derivatives trading, Bybit offers two notable trading bots: the futures grid bot and the futures martingale bot, which automate trading processes. Additionally, Bybit provides DeFi services like staking. The platform is known for its industry-leading security measures, ensuring a safe and convenient trading experience.

• OKX

OKX is an advanced crypto exchange that supports both spot and derivatives trading. It is particularly suited for experienced traders who employ advanced trading strategies. The platform features a well-structured and unified trading interface, enabling both automated and manual trading. OKX offers several advanced order types, including conditional orders, which are valuable for automating the buying or selling of contracts based on predefined criteria.

Additionally, OKX provides trading bots such as futures grid and futures DCA, designed to exploit specific market conditions for potential profit. Overall, OKX delivers a comprehensive trading experience for both spot and derivatives trading.

KuCoin: Maximize Your Trades with Competitive Fees and Rewards

Kucoin is a leading crypto exchange that provides access to around 700 tradable coins in spot market. The platform also supports derivatives and margin trading and provides seamless experience for traders and investors. In addition to manual trading, it also provides trading bots which can be used for sophisticated trading strategies. Professional traders can leverage all these tools to grow their crypto portfolio.

Apart from trading services, Kucoin also offers staking and investment products which we will explore in detail in this review. Launched in 2017, this crypto exchange now has over 30 million users from 200 countries in the world.

Pros and Cons

Pros	Cons
Around 700 tradable coins	Can be difficult for beginners
Wide range of derivatives contracts	Not regulated in some regions
Supports several trading bots like spot, futures and infinity grid
Staking products and structured investment products also available

Trading Fees

Kucoin takes decent fees for spot and futures trading. The fee structure also depends on monthly trading volume and VIP level. At higher levels, users pay less fees. Here’s the fee structure for spot trading:

VIP Level	Amount of KCS Held	or	Spot Trading Volume – USDT (Last 30 Days)	or	Futures Trading Volume – USDT (Last 30 Days)	Maker/Taker	Pay Fees with KCS (20% off) Maker/Taker	24h Withdrawal Limit (USDT)
LV0	<1,000	or	<3,000,000	or	<5,000,000	0.100% / 0.100%	0.080% / 0.080%	1,000,000
LV1	≥1,000	or	≥3,000,000	or	≥5,000,000	0.090% / 0.100%	0.072% / 0.080%	3,000,000
LV2	≥10,000	or	≥6,000,000	or	≥8,000,000	0.075% / 0.090%	0.060% / 0.072%	3,000,000
LV3	≥20,000	or	≥13,000,000	or	≥16,000,000	0.065% / 0.085%	0.052% / 0.068%	5,000,000
LV4	≥30,000	or	≥35,000,000	or	≥40,000,000	0.045% / 0.065%	0.036% / 0.052%	5,000,000
LV5	≥40,000	or	≥55,000,000	or	≥60,000,000	0.035% / 0.055%	0.028% / 0.044%	10,000,000
LV6	≥50,000	or	≥100,000,000	or	≥120,000,000	0.025% / 0.045%	0.020% / 0.036%	10,000,000
LV7	≥60,000	or	≥180,000,000	or	≥200,000,000	0.015% / 0.042%	0.012% / 0.0336%	15,000,000
LV8	≥70,000	or	≥250,000,000	or	≥300,000,000	0.010% / 0.040%	0.008% / 0.032%	15,000,000
LV9	≥80,000	or	≥350,000,000	or	≥400,000,000	0.000% / 0.040%	0.000% / 0.032%	30,000,000
LV10	≥90,000	or	≥550,000,000	or	≥600,000,000	0.000% / 0.030%	0.000% / 0.024%	40,000,000
LV11	≥100,000	or	≥750,000,000	or	≥800,000,000	-0.003% / 0.025%	-0.003% / 0.020%	50,000,000
LV12	≥150,000	or	≥950,000,000	or	≥1,000,000,000	-0.005% / 0.025%	-0.005% / 0.020%	60,000,000

Trading Experience

The spot trading interface is not very beginner-friendly. New investors may struggle with the trading tools and features. The trading platform provides a comprehensive set of tools and resources for traders to execute spot trades efficiently. For fostering advanced strategies, it also provides several advanced order types such as OCO, trailing stop, advanced limit and more. In the single platform, you can switch to manual trading or bot trading. Chart comes with various tools and technical indicators that can be used in technical analysis.

Kucoin also provides wide range of futures products such as USDT-margined contracts, USDC-margined contracts and coin-margined contracts. Kucoin offers high liquidity and efficient order matching system which provides seamless experience for derivatives traders. Furthermore, Kucoin supports several trading bots including spot grid, futures grid, infinity grid and margin grid, smart rebalance and DCA bots. Each bot has built-in strategy aimed to exploit the crypto market conditions to generate profits.

Other Features

While Kucoin provides exceptional trading services, it also excels in other investment products specifically designed for those who want to earn passive income with crypto holdings. These include staking, lending, savings account, and advanced investment products like Shark Fin and Snowball.

You can stake a variety of coins such as USDT, AVAX, KCS, BNB and more to earn yields. You can also invest your assets in Shark Fin products, which offer principal protection and the potential for higher yields. Shark Fin products use call option contracts to generate returns based on the investor’s market predictions.

Customer Service and Satisfaction

Kucoin provides customer support through multiple channels such as live chat, and email. It also provides a comprehensive FAQ section and guides which can be helpful if users have specific queries or problems.

There are around 32 reviews about Kucoin on G2 which makes it overall rating 2.9 out of 5. Many customers seem to admire the availability of wide range of coins, low trading fees, security features, and smooth trading experience. On the other hand, some customers complain about poor customer support, and account problems.

Company Overview

Kucoin company was developed by Michael Gan and Eric Don in 2017. They had the vision to provide a secure and convenient environment for crypto trading. Subsequently, KCS token was also launched as native coin of Kucoin exchange that can be used for discounts on transaction fees. In 2019, Kucoin also launched margin trading service. With multiple developments aimed at expanding Kucoin’s ecosystem, the user base also grew significantly. Now, Kucoin has around 30 million users from 200 countries in the world. Kucoin company is currently based in Seychelles.

How Instant Exchanges Work

Instant exchanges streamline trading by eliminating the need for order book system. Unlike spot trading platforms that rely on order book system for matching buy and sell orders, instant exchanges facilitate immediate transactions. They use internal systems for aggregating liquidity and for instant matching of orders. This enables fast trade execution at current market prices.

Once traders choose a specific crypto pair and cryptocurrency they want to purchase, they can select fixed rate or floating rate. After entering the amount to be purchased, the user confirms the transaction. The instant exchange platform then processes the trade, executing it quickly and recording it on the blockchain. Internal systems handle the trade execution and charge a specific fee.

Usually, instant exchanges charge higher transaction fees compared to traditional crypto exchanges. Platforms like ChangeNow also supports mobile app, providing a beginner-friendly interface for swapping cryptocurrencies.

Top 5 Instant Exchanges

When selecting an instant exchange, ensure the platform has robust security, a good reputation, a wide range of supported cryptocurrencies, and a user-friendly interface. Although instant exchanges typically charge higher fees, some platforms offer competitive rates.

While most of the exchanges do not require user account, some of them may require KYC process. You can connect your crypto wallet or directly purchase crypto using the payment methods available on the exchange to get started.

1. SimpleSwap

It is popular instant exchange specifically developed to simplify the swapping of cryptocurrencies. It allows swapping of over 500 cryptocurrencies at both fixed, and floating rates. With its user-friendly interface, beginners can easily swap cryptocurrencies. Being a non-custodial platform, it does not store users’ crypto but only processes the transaction. By joining the loyalty program, users can also earn BTC cashbacks for every exchange they make.

Unlike traditional crypto exchange, it does not require any sign up. Users only need to connect their crypto wallet to the platform to start swapping crypto. Additionally, you can also purchase crypto using multiple payment methods such as credit, debit cards, or bank payments. SimpleSwap is suitable for both beginners and expert investors.

• ChangeNow

It is a non-custodial instant exchange used for swapping cryptocurrencies. ChangeNow uses the liquidity provided by 10 CEXs and DEXs to facilitate trades and ensures competitive rates. It supports around 700 coins and a wide range of trading pairs. Users can start swapping crypto without any sign up. ChangeNow also provides mobile app for android users.

You can also utilize the Pro service which offers 3 plans which can be used for earning cashback rewards. Free plan is also available offering 0.1% cashback rewards and unlimited crypto loans.

• StealthEx

It is a beginner-friendly crypto exchange that allows instant swap of cryptocurrencies. StealthEx also does not require any account registration or KYC process. Users can exchange any amount of crypto but are required to pay network fees. It supports swapping of over 1400 assets. The vast range of supported cryptocurrencies makes this platform worthy for exchanging crypto.

In addition to the swapping services, StealthEx provides educational resources to help users understand the process better. For any issues or queries, they also provide customer support via email.

• Changelly

It is one of the oldest instant exchanges used to swap cryptocurrencies. Both desktop platform and mobile app are available to facilitate swapping of coins. Changelly supports wide range of crypto assets and allows instant exchange of these assets through its user-friendly interface. It is non-custodial platform which means crypto are not stored on platform. Just like all instant exchanges, it also charges network fees although it does not charge any additional fees. This platform aims to provide seamless experience for users looking to exchange crypto efficiently.

Unlike traditional crypto exchanges that may offer advanced trading features, Changelly focuses on instant exchange service.

• SwapSpace

It is another user-friendly instant exchange that supports a diverse range of crypto assets and pairs. For instance, it supports 1750 coins at best market rates. Interestingly, SwapSpace also displays swap offers with competitive rates and time duration. It aggregates liquidity from 30 partners which includes popular centralized exchanges, and other instant swap services. Both fixed and floating rate options are available. SwapSpace is a convenient and secure platform for users looking to swap cryptocurrencies quickly and without the hassle of account registration. Its non-custodial nature and support for a wide range of digital assets make it an attractive option for both beginners and seasoned traders.

Crypto.com: The Most Secure Crypto Exchange

Crypto.com is a popular crypto exchange used for spot, derivatives and margin trading. It offers comprehensive ecosystem for crypto investors. There are over 350 tradable cryptocurrencies and 21 assets for staking. Alongside browser platform, mobile app is also available which is user-friendly and suitable for beginners. Interestingly, platform offers high-speed trading and deep liquidity.

Crypto.com is considered the most secure crypto exchange because of its regulatory compliance and security certifications. The platform has millions of users around the world. Its focus on regulatory compliance and global expansion has strengthened its position as a prominent crypto exchange.

Pros and Cons

Pros	Cons
350+ tradable cryptocurrencies	Higher fees without CRO staking
Mobile app also available
Crypto staking to earn rewards
Crypto visa card for earning cashback rewards
DeFi wallet also available

Trading Fees

The fees are high for users who have not staked CRO. Traders with monthly trade volume below $250,000, pay 0.075% fees. They can get discounts by staking CRO. Here’s the complete detail of the transaction fees without CRO staking:

TRADING VOLUME	MAKER FEE	TAKER FEE
Less than $250,000 (Level 1)	0.075%	0.075%
$250,000 to $1 million (Level 2)	0.07%	0.072%
$1 million to $5 million (Level 3)	0.065%	0.069%
$5 million to $10 million (Level 4)	0.06%	0.065%
Above $10 million (Level 5)	0.00%	0.05%

Trading Experience

Crypto.com provides complete set of trading tools for professional traders. Under the single trading interface, you can choose either trading bots or manual trade. The charting system comes with complete set of tools for technical analysis. By trading on Crypto.com, you can access multiple advanced order types such as OCO limit, OCO market, stop-loss limit, stop-loss market and others.

Crypto.com supports three types of trading including spot, derivatives and OTC trading. OTC portal provides competitive rates for large-volume trades. You can trade wide range of futures and perpetual contracts. Overall, the platform is suitable for trading in multiple markets.

Other Features

Apart from trading, Crypto.com offers many other interesting features. The platform offers staking service for users who want to earn passive income with crypto. Users can earn up to 19% APR. Currently, 21 assets which also includes stablecoin such as Tether, can be staked.

Crypto visa card is Crypto.com’s best feature specifically designed for those who want to use crypto for everyday purchases. This card provides cashback rewards depending on user’s CRO holding. Being a native coin of Crypto.com, CRO provides various incentives. You can get maximum cashback rewards for CRO staking of $400,000.

Another interesting feature is DeFi wallet that can be used for storing and swapping cryptocurrencies. It also provides access to various DeFi procotols.

Customer Service & Satisfaction

Crypto.com provides multiple channels for customer support. Customers can use the live chat feature or send emails if they have any queries or any problem. Additionally, Crypto.com educational resources are also very helpful for customers.

On G2, there are 13 reviews about Crypto.com which makes the overall rating 4.2 out of 5. Most customers seem to admire various products like visa card, and native token like CRO, ease of use, and diversity of tradable assets. On the other hand, some customers also complain about slow speed of the application.

Company Overview

Crypto.com company was founded by Bobby Bao, Kris Marszalek, and Rafael Melo in 2016. Originally named as “Monaco”, the company rebranded to Crypto.com in 2018. Initially, it focused on crypto trading services, but later evolved into a cryptocurrency ecosystem and now provides multiple financial services. The platform also offers margin and derivatives trading. Crypto.com also partnered with Shopify in 2022 to enable merchants to take payments in cryptocurrency.

Crypto.com has also registered with FinCEN organization as a Money Services Business. This crypto exchange is regulated in many regions such as Europe, and Australia. The platform has sustained robust security measures and earned security certifications.

Gemini: Beginner-Friendly Crypto Exchange

Gemini is one of the best user-friendly crypto exchanges. It is suitable for new crypto investors who want to manage their crypto assets. Professional traders take benefit of its Active Trader, an advanced trading platform. Gemini supports over 100 crypto assets and multiple derivatives products for trading. Specifically for large-volume traders, it offers Over-The-Counter (OTC) trading service.

This US-based crypto exchange is regulated by New York State Department of Financial Services (NYSDFS). This crypto exchange is a very secure and reliable platform for normal and institutional investors.

Pros and Cons

Pros	Cons
Beginner-friendly interface	High trading fees
Derivatives products also available	Small range of tradable assets compared to other crypto exchanges
Users can stake crypto
Crypto credit card

Trading Fees

Gemini offers different fee structure for simple platform and Active Trader. Simple platform has relatively higher fees compared to Active Trader and the fees amount vary depending on the order size.

WEB ORDER AMOUNT – USD	TRANSACTION FEE¹ – USD
≤ $10.00	$0.99
> $10.00 but ≤ $25.00	$1.49
> $25.00 but ≤ $50.00	$1.99
> $50.00 but ≤ $200.00	$2.99
> $200.00	1.49% of your Web Order value

And the fee structure for Active Trader is based on monthly trade volume rather than individual order size.

30-DAY TRADING VOLUME IN (USD NOTIONAL)	TAKER FEE	MAKER FEE
0	0.40%	0.20%
≥ $10,000	0.30%	0.10%
≥ $50,000	0.25%	0.10%
≥ $100,000	0.20%	0.08%
≥ $1,000,000	0.15%	0.05%
≥ $5,000,000	0.10%	0.03%
≥ $10,000,000	0.08%	0.02%
≥ $50,000,000	0.05%	0.00%
≥ $100,000,000	0.04%	0.00%
≥ $500,000,000	0.03%	0.00%

Trading Experience

The Gemini exchange which is tailored for beginners has a simple interface and allows them to easily execute trades. They can also set recurring buys and view their portfolio. The only disadvantage of using this simple platform is the high fees. On the other hand, Active Trader is tailored for professional traders who want to execute custom trades like stop-limit orders. It provides advanced charting, technical indicators, and order book visibility. Unlike other crypto exchanges, Active Trader has fewer order types including limit, stop-limit and market.

Gemini’s spot trading services are available in the US, but derivatives trading is not available in US, UK or EU. Users from other countries can trade perpetual contracts with up to 100x leverage and enjoy fast trade execution speed.

Other Features

Gemini provides many other features including staking service, credit card, and a NFT marketplace all of which allow users to earn crypto. One of the downsides of staking on Gemini is that it provides only 3 assets for staking. Also, stablecoins are not available for staking. The credit card is one of the top features of Gemini that provides cashback rewards whenever you spend your crypto. Users do not have to pay any annual fee and can take benefit of world-class security of Gemini. And lastly, NiftyGateway is Gemini’s NFT marketplace where users can trade NFTs or digital art.

Customer Service & Satisfaction

Gemini does not provide multiple channels for customer support like live chat, email, and phone support. Customers can use the request form to submit a complaint if they have any issue. Gemini offers good amount of educational material specifically for the queries of customers.

On G2, Gemini got 17 reviews and overall rating of 3.7 out of 5. Customers seem to admire the user-friendly interface, high liquidity, credit card feature, and security of the platform. On the other hand, some customers complain about poor customer support, and restriction of services in some regions.

Company Overview

Gemini Trust Company was founded by two American investors, Cameron and Tyler Winklevoss in 2014. The crypto exchange is available in all states of the US. This crypto exchange is considered one of the most regulated crypto exchanges because of its adherence to highest level of capital reserve requirements and banking compliance standards. Gemini is also registered with FinCEN as money services business and complies with AML regulations. The industry-leading security of Gemini has also helped it earn SOC 1 Type 2 and SOC 2 Type 2 certifications. That’s why, Gemini is a very reliable crypto exchange for spot trading and other crypto-related services.