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Best Cryptocurrency Exchange By Volume

The cryptocurrency landscape is an ever-changing and volatile market, with the last two years arguably being the best in terms of cryptocurrency adoption and exposure. With a surge in demand for cryptocurrency usage, crypto-exchanges have emerged as the number one go-to destination for cryptocurrency traders and investors alike. However, with a surge in popularity, the number of cryptocurrency exchanges operating globally has grown exponentially. Thus for a trader, or investor, or even a crypto enthusiast, it becomes crucial to evaluate a particular exchange before using it. There have been a number of elaborate scams and ponzi schemes recently, which further increases the need for a proper judgement.

Choosing Cryptocurrency Exchanges By Daily Trading Volume

It comes as no surprise, that trading volume is a crucial criterion by which we can evaluate a particular cryptocurrency exchange. Trading volume, which is usually calculated for the last 24 hours, represents the total valuation of tokens being traded on the exchange on a particular day. Along with circulating supply and market capitalization, it is one of the most prominent metrics for analysis.

Some Pro-Crypto Tips: When choosing a particular exchange, be it centralised or de-centralised, trading volume is a great tool to offer some consistency while examining different exchanges. This is because almost all exchanges frequently have different prices, as well as operating in geographically focused Areas. Hence volume by exchange can provide traders hints regarding the sustainability and legitimacy of a particular crypto-exchange, making it a crucial tool in the crypto-investor’s arsenal.

Crypto-Exchanges Ranked By Daily Trading Volume

As mentioned before, trading volume is a very useful metric to evaluate crypto-exchanges. It should be noted however, trading volumes can change drastically and it is absolutely crucial that a trader keeps him/herself updated to make well-informed trading decisions. Authoritarian sites such as coinmarketcap or coingecko provide updated figures every day which can be used as a good reference point. There are other sites such as procryptotips.com  which offer a detailed explanation on this subject. Below are the top ten crypto-exchanges ranked by daily trading volume according to coinmarketcap. (17/07)

  1. BitMex: At the time or writing, BitMex is undoubtedly the leader in the Bitcoin/USD market, with a 24-hour Trading Volume of $3,641,880,000. Originally based out of Hong Kong, the organization has opened offices in San Francisco as well as New York. BitMex is owned by HDR Global trading Limited, registered in the Republic of Seychelles.
    At the time of writing, BitMex exclusively offers only one pair, the BTC/USD.
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    Information Courtesy: Coinmarketcap

  3. Fcoin: A relatively new exchange in the crypto-world, Fcoin has been attracting widespread attention ever since it overtook other well-known crypto-exchanges like Binance and Bitfinex in terms daily trading volume. At the time of writing, Fcoin is ranked #2, with a daily trading volume of $3,043,262,378 Fcoin currently has 81 cryptocurrency trading pairs available for trading, with the FT/BTC, BTC/USDT and FT/USDT markets being the most heavily traded.
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    Information Courtsey: Coinmarketcap

  5. Binance: Binance is arguably one of the most popular and heavily used cryptocurrency exchanges on the list. Originally based out of China, the company switched its base to the Island of Malta in the face of regulatory threats from the Chinese Government. Different than most other exchanges, Binance does not offer any fiat trading options and deals exclusively in crypto-to-crypto trades, with a huge offering of over 377 trading pairs including ICO listings. At the time of writing, the Daily trading volume of Binance is $1,305,646,769 Binance Offers 377 crypto-pairs for trading, with the BTC/USDT, EOS/USDT and ETH/USDT having the highest trading volumes on the exchange.
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    Information Courtsey: Coinmarketcap

  7. Bithumb: The next on the list is Bithumb, a South Korea based cryptocurrency exchange located in Seoul. Bithumb prides itself on user-security, as well as being an exchange that trades at a dramatically higher rate than any other exchange in the vicinity. It currently offers an excess of 30 cryptocurrencies for trading. Recently they have unveiled plans for further expansion into Japan and Thailand in the near future. At the time of writing Bithumb has a daily trading volume of $1,299,528,952 with 37 trading pairs available for trading. The PAY/KRW for TenX, POWR/KRW for Power Ledger and GTO/KRW for Gifto are the top three trading pairs with the highest percentage of trading volume.
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    Information Courtsey: Coinmarketcap

  9. OKEx: OKEx is another major cryptocurrency exchange based out of Hongkong, which offers a myriad of trading options like futures trading, margins trading, spot trading and many more. It was founded in 2014, by Star Xu, and has moved its headquarters to Malta. At the time or writing, OKEx has a daily trading volume of $1,177,376,293, with a large offering of 507 crypto-pairs for trading. The BTC/USDT, EOS/USDT and ETH/USDT are the three pairs with the highest percentage of trading volume.
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    Information Courtsey: Coinmarketcap

  11. Huobi: Huobi is a highly reputed cryptocurrency exchange within the trading community, originally based out of Singapore. Although originally restricted in certain South Asian countries, Huobi expanded its business and organization to service clients across the globe. Currently, Huobi has branches in Hong Kong, Japan, and South Korea. Huobi has fluctuated when it comes to ranking, ranked 4th and 5th At the time of writing, Huobi has a daily trading volume of $1,052,643,751 USD, with a total of 254 different cryptocurrency trading pairs on offer. The BTC/USDT, the EOS/USDT and ETH/USDT pairs account for the highest trading volumes.
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    Information Courtsey: Coinmarketcap

  13. Coinsuper: Coinsuper is another success story in recent times, expanding from a lesser-known trading platform to being included among the top 10 crypto-exchanges with the highest trading volume. The exchange has risen from the 16th rank to the top 10 within a span of one month.
    At the time of writing, CoinSuper has a daily trading volume of $ 893,070,439 with 29 trading pairs on offer. The ETH/BTC, BTC/USD and BCH/BTC pairs account for the highest percentage of trading volume on the platform.
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    Information Courtsey: Coinmarketcap

  15. Bitfinex: Originally founded in 2012, Bitfinex was among the first professional platforms which hoped to offer proper cryptocurrency trading almost 6 years back. It has now held its place consistently in the top ten cyptocurrency exchange. Bitfinex specialises in providing peer-to-peer financing, with OTC market and margin trading options as well.
    At the time of writing, Bitfinex has a daily trading volume of $867,928,623 With 87 trading pairs on offer.  The BTC/USD, EOS/USD and ETH/USD are the pairs with the highest trading volume on the exchange.
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    Information Courtsey: Coinmarketcap

  17. CoinBene: CoinBene is another stable and reliable digital assets exchange, currently having offices in Singapore, HongKong, Malaysia , India and Brazil with plans for further expansion. The exchange was formally launched on November 20th, 2017 and has since surged into the top ten rankings on multiple occasions.
    At the time of writing, CoinBene has a daily trading volume of $824,092,398 with a total of 90 trading pairs on offer. The BTC/USDT, ETH/BTC and ETH/USDT pairs are among the top traded pairs in terms of volume.
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    Information Courtsey: Coinmarketcap

  19. CoinEx: CoinEx is a relatively new crypto-exchange as compared to some of the others. CoinEx also focuses on multi-language support, currently offering services in both Chinese and English. CoinEx does not trade in fiat and focuses only on crypto-to-crypto trading at the moment.
    CoinEx has a daily trading volume of $665,238,056 with 54 trading pairs on offer.  The BTC/USDT. ETH/BTC and BTC/BCH pairs are the pairs with the highest trading volume.

Recent News Events:

Information Courtsey: Coinmarketcap

Some Pro Tips Regarding Exchanges with High Trading Volume

It should be remembered that Trading Volume is an effective but very unstable and volatile metric to consider all the time. No one can guarantee that an exchange with a very high trading volume will be legitimate. There have been past cases where exchanges like Mt.Gox which recorded high trading volumes on a regular basis, had major lapses in security.  Big exchanges like Binance, Bithumb and Bitfinex have all had their share of databreaches and security lapses in the past.  Currently Fcoin has been fluctuating within the first 4 positions, with allegations of wash-trading being examined. However, judging an exchange by daily trading volume can give traders valuable insights which can eventually contribute towards making well-informed trading decisions.

Notes:

  • All Token Statistics Are taken From Coinmarketcap.com, updated as of (18/07) 5:53 EDT