Top Crypto Exchanges in Europe: Most secure & user-friendly exchanges
Crypto exchanges are platforms where people can buy and sell digital currencies like Bitcoin, Ethereum, Litecoin, Ripple, and others. These days, there are many different types of exchanges out there, some charge high transaction fees, some offer free trades, some require KYC/AML checks, and some don’t even allow fiat trading pairs. So how do you know which one is the best crypto exchange for you?
First off, let’s define what a “crypto exchange” actually does. A good exchange helps you buy and sell cryptos without having to worry about security, privacy, and identity verification. You’ll probably notice that most major exchanges require you to verify your identity via government-issued documents such as passports or driver’s licenses. This makes sense because you wouldn’t want someone buying bitcoins with stolen credit cards, would you?
The second thing you’ll want to look into is whether the exchange offers fiat currency support. Some exchanges only support cryptos, while others will convert your money into Bitcoin, Litecoin, Ethereum, Ripple, etc., and vice versa. In addition to helping you buy and sell, crypto exchanges also provide a secure place to store your funds. However, we recommend moving your coins to your own hardware wallets. Cold storage wallets are offline and disconnected from the internet, keeping your assets away from hackers and prying eyes.
Each exchange offers something unique. You’ll find out about the top 10 crypto exchanges here.
Kraken – regulated and low fees
Kraken exchange, one of the oldest and biggest Bitcoin exchanges, is known for having some of the lowest fees in the industry, and it’s been around since 2011. With over 6 million customers worldwide, Kraken is one of the biggest crypto exchanges in the world. Its reputation precedes itself, and you’ll find reviews praising Kraken for being easy to use, fast, secure, and reliable.
The exchange offers many different ways to deposit funds, such as:
- Visa and Mastercard debit/credit
- Digital wallet purchases (buy cryptos using Apple Pay or Google Pay)
- ACH online banking
Fees vary for Kraken and Kraken Pro.
Using Kraken, quick purchases of most cryptos cost 1.5%, while stablecoins cost 0.9%. How you pay affects fees. 0.5% for bank account financing to 3.75% + 25 Euro cents using a debit card, credit card, or digital wallet.
Kraken Pro’s fees are less than Kraken’s. Your 30-day trading volume influences pricing. Taker costs are 0.26 %, and maker fees are 0.16 % if your 30-day trading volume is less or equal to $50 000. With more trading volume, your taker and maker fees will be cheaper.
KuCoin – lots of coins and features
KuCoin is a top crypto exchange. It offers digital money trading, exchange, and lending. Compared to other crypto exchanges, the site has cheap fees. The beginner-friendly interface attracts over a million people. The exchange gives crypto investors several benefits.
Users can trade a variety of cryptos on the exchange (over 200). Aside from that, KuCoin supports trading pairings such as BTC/ETH. This means that a trader can swap Bitcoin for Ethereum without first converting either currency to fiat money.
KuCoin gives the best exchange rates. Trading costs are low at 0.1% for each transaction. The platform provides reduced transaction costs, promotions, and trading fee savings to skilled traders.
KuCoin enables you to purchase crypto using major currencies. You can utilize fiat money by credit card or debit card, P2P trading, or KuCoin’s Fast Buy service. USD, CAD, AUD, and a variety of other currencies may be used to purchase crypto.
If you plan to use KuCoin only for trading crypto to crypto, you won’t have to go through KYC either.
Binance – high liquidity, low fees
One of the largest crypto exchanges globally, Binance, originally based in China but later moved its headquarters to the Cayman Islands, is one of the most technologically advanced exchanges that come complete with its learning platform, which allows users to trade without having to worry about technicalities.
Because of its sophisticated nature, some people believe that it is not suitable for newcomers. However, because of its many attractive features, such as low fees, fast transaction times, and high liquidity, Binance is still among the best choices for traders.
When trading on Binance, a flat 0.1% fee is applied to each trade. If you pay with BNB, you currently get a 50% discount on the trading fee, 25% during the second year, and so on, reducing it down to 0.05 %.
In addition, Binance supports fiat currencies like USD, EUR, CNY, AUD, INR, RUB, and others. This makes it easy for users to buy cryptos with fiat money.
FTX – rapidly growing, a lot of innovative features
Founded in 2019, FTX is one of the leading exchanges for crypto-related products such as derivatives and tokenized stocks. FTX offers clients access to markets that are otherwise inaccessible to most retail investors.
The platform lets users trade a wide variety of contracts against their crypto holdings, including synthetic versions of stocks from public companies like Tesla, Apple, and Facebook, or purchase ETF options like an S&P500.
In addition to being a great way to diversify your portfolio, FTX provides some unique features. For example, it allows traders to use leverage up to 20 times on certain markets. Leverage essentially multiplies the amount of money you invest, allowing you to gain exposure to large positions without having to put much cash down.
Another impressive feature is that FTX supports margin trading, meaning that you can borrow money against the value of your holdings to increase your potential profits. This is particularly useful for those interested in shorting popular cryptos. Margin trading requires collateral, though, so you must deposit some coins as security.
For leveraged tokens, the platform charges 0.10% in creation and redemption fees and 0.03% in daily maintenance fees. Trading fees increase by 0.02% when using the leverage of 50x and by 0.03% when using the leverage of 100x or greater.
Uphold – a lot of non-crypto assets
Uphold is a crypto exchange that lets users purchase, sell, and trade supported crypto. This exchange lets users trade Bitcoin, precious metals, and equities. 130+ cryptos, 37 national currencies, 50 equities, and multiple precious metals are available.
Uphold lets users deposit national currencies (like USD) and buy Bitcoin and other assets. Users can exchange crypto-to-stock or precious metals for currency.
Uphold doesn’t charge any trading commissions or deposit fees. However, it does charge spreads for each trade on the platform. Depending on the assets being traded and market conditions, these spreads can be quite large.
Security is a key feature for any top crypto trading platform. Uphold uses advanced encryption and layered defenses to limit attacks. They keep an eye out for potential threats every day, responding quickly to them and carrying out regular audits and penetration tests to ensure everything is working properly.
Uphold gives consumers two-factor authentication (2FA), data server encryption, and KYC identity verification.
In terms of service fees, Uphold charges a spread. This is approximately 1% for BTC and ETH. When it comes to precious metals, this figure rises to 3%. Of course, network fees from the coins themselves exist.
eToro – copytrading, forex, commodities, ETF
eToro is one of the biggest social trading and multi-asset investment companies in the world. With over 20 million registered users across 140 countries, it boasts a wide range of clients, including major banks, hedge funds, family offices, and high-net-worth individuals.
The company launched in 2007 and now trades stocks, commodities, indices, ETFs, forex, and cryptos. Its mission statement is “To empower people to invest and manage their money.“
You can buy, trade, and exchange over 30 different cryptos, including decentralized finance (DeFi) tokens and stablecoins.
eToro is for beginners and pros. New users will appreciate an easy-to-navigate trading interface, while seasoned traders may prefer eToroX. You may also create an institutional account, but you’ll need extra documentation to prove your firm.
eToro stands apart from its competition due to its copytrading features, which allow new users to copy successful trading strategies from top-notched traders.
Aside from the $5 withdrawal fee, which is extremely low in comparison to other brokers, eToro imposes overnight/weekend fees for CFD positions. EToro also charges conversion fees for non-USD deposits, given the platform’s native currency is USD. Inactivity penalties will severely penalize residual account balances, charging $10 per month after 12 months of no trading activity.
ByBit – derivatives trading
ByBit is the world’s fastest-growing crypto exchange and trading platform trusted by millions of users worldwide. ByBit offers leveraged trading up to 100x. They are mainly focused on providing access to leveraged trading for those looking to trade cryptos such as Bitcoin, Ethereum, Litecoin, Ripple, Monero, Dash, Zcash, Stellar Lumens, and many others. It offers margin trading and futures contracts.
The exchange was founded in 2018 and is headquartered in Singapore. ByBit is one of the most popular exchanges among those looking to trade with leverage. Its main focus lies in providing high liquidity for its clients.
Its charting platform and user experience remain easy to use and include all of the advanced features expected from a top-tier crypto exchange.
Users can set all kinds of orders when trading and access the trading engine, which boasts fast speeds and low latencies to ensure traders can get accurate prices when trading.
The smaller your trading fee rates are the higher your tier. The taker fee for derivatives is as low as 0.03 %, while the fee for spot trading is as low as 0.02 %.
Margex – high leverages
Margex is an innovative crypto derivatives trading platform offering high leverage (up to 100x). It was launched in 2020 and has already established itself as a reliable operator.
Margex is a crypto derivative trading platform, therefore, they don’t supply the underlying assets. Their noteworthy features include:
- Leverage 100x
- No KYC
- High safety
- Anti-manipulation software
- Trading pairs limited
The exchange imposes a trading fee for buy and sells positions based on a maker and taker basis, with costs of 0.19 % and 0.060 %, respectively.
Margex’s website lists the security safeguards it uses to protect customer data and payments. Multilayered security reduces hacking, theft, and fraud. Protections include:
- SSL encrypts user data.
- Email withdrawal confirmation
- All assets are in multi-sig cold wallets.
- Once-a-day withdrawals
- Asset notifications and real-time monitoring
Phemex – no fees with a premium account
supports a limited number of currencies, including Bitcoin, Ethereum, Ripple, and LINK, which may be exchanged against the USDT – Tether. Contracts are offered in USDT because there are no real Bitcoin transactions throughout the buying/selling procedure.
It provides long-term contracts. As has become industry standard, the leverage may be changed up to 100x. Setting a high amount of leverage might result in a rapid profit or a quick loss (double or nothing), which is why experienced traders avoid it.
It is going by the standard of the industry, with the maker-taker fees of -0.025% and 0.075%. But the most interesting part of the platform is their paid feautes – Phemex Premium. If you buy the Phemex Premium subscription,you can trade without paying any fees.
Phemex does not require any KYC verification. Phemex registration is fast and does not need any long verification procedures or government paperwork to establish your identification. It is ideal for traders who value their privacy.
Bitpanda – buy several crypto assets
One of the best places to purchase and sell Bitcoins is Bitpanda (previously known as Coinimal), a Bitcoin broker. Eric Demuth (co-CEO), Christian Trummer (CTO), and Paul Klanschek (CTO) launched the firm in late 2014 in Vienna, Austria. In the European Union, it is one of the most well-known crypto exchanges to use.
BitPanda is particularly well-liked among Bitcoin users in European countries. In addition, the platform is compatible with a number of the most popular payment choices in Europe, including SEPA, GIROPAY/EPS, SOFORT, NETELLER, and Skrill, as well as more traditional deposit methods, such as MasterCard and Visa.
BitPanda has over 3 million active users on its easy-to-navigate, beginner-friendly platform.
Maker and taker fees might be as low as 0.05%. The lesser your fees are, the more you trade. For the first 3 months of trading, new business accounts get promotional fees of 0% maker and 0.025 % taker fees.
By the law of the European Union, like other European crypto companies, Bitpanda is legally required to collect a certain amount of user information. This is known as the “Know Your Customer” (KYC) approach since it aids in the prevention of money laundering and terrorist financing.
CaptainAltcoin’s writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com