Top 5 Bitcoin and Cryptocurrency trading Sites 2021

Franklin Izuchukwu
By Franklin Izuchukwu
Top 5 Bitcoin and Cryptocurrency trading sites

The term cryptocurrency and bitcoin have been floated over and over on the internet. Bitcoin, the first cryptocurrency, was launched in 2009, and by April 2013, bitcoin was worth $266 per bitcoin.

That same Bitcoin is worth over $30000 at the time of this publication. The market capitalisation of cryptocurrency trading is over $1.6 trillion, according to Coinmarketcap.

Cryptocurrency is digital cash that is not tied to any government or body; the value of bitcoin and its market is determined solely by the community's activities.

Like the stock market, government policies and pronouncement can affect the cryptocurrency market, but it lacks a direct regulation under anybody or institution.

Some analysts have predicted a significant change in the cryptocurrency market, and there is also the possibility that crypto will enter the Nasdaq.

The above is why Clacified has chosen to tabulate the list of the top 5 bitcoin and cryptocurrency trading sites or platforms for 2021.

Bitcoin and crypto trading sites are popularly known as exchange sites because it offers a platform where users can trade there cryptocurrency in exchange for another crypto or fiat (money).

Read up on some terms and abbreviations used in the cryptocurrency markert to enable you read this article more comprehensively.

The top 5 bitcoin and cryptocurrency sites 2021 offer services like:

  • Conventional trading with cryptocurrency and fiat
  • Market analysis of the crypto market
  • The purview of the entire cryptocurrency market
  • Alternate bank to save and access foreign currency
  • Wallet system to store, send and receive cryptocurrency
  • Details about some cryptocurrencies and their value.

The discussion on the top 5 bitcoin and cryptocurrency sites for 2021 will focus on platforms with reputable recognition. In discussing the top 5 bitcoin and cryptocurrency sites, we will also delve into their individual

  • Gas fees,
  • Offer,
  • Features,
  • The number of coins/token traded,
  • Merits and dmerits associated with each etc.

Below are the top 5 bitcoin and cryptocurrency sites for 2021.

Most bitcoin and cryptocurrency trading sites are downloadable as mobile applications.

1. Binance

The word Binance was coined from two words, 'Bitcoin' and 'Finance'.

Binance is a cryptocurrency trading platform with a major interest in altcoins. Binance is the largest cryptocurrency and trading site by trading volume.

Binance was founded by Changpeng Zhao, AKA CZ, in 2017. Binance ranks as the number 1 bitcoin and crypto trading site in the world.

Binance owns a cryptocurrency called, Binance coin (BNB).

The Binance platform offers users a desktop, android and IOS application to access its online trading.

Binance Gas Fees

Gas fees are charges placed on most cryptocurrency transaction. They are also known as processing fees and are collated by the trading or supporting platform.

Gas fees are charged both for receiving and sending crypto.

  • Binance charges 0.1% for the taker's side and 0.1% for the maker's side.
  • Binance charges a 2% fee for credit card purchases.

Note:

Binance.us is exclusive to US residents, this US version comes with limited features.

Binance is the largest cryptocurrency trading site by volume

Advantages of Using Binance

The trading volume of Binance is not the only factor that projects Binance as the number 1 in Clacified's list of top 5 bitcoin and cryptocurrency trading sites.

Binance offers their users some unique features which make them stand out amongst their peers.

  • Relatively low fees
  • Fees on transactions done with BNB are reduced by 25%
  • Over 500 cryptocurrency pairs are allowed on Binance with multiple fiat pairs
  • Multiple trade options are available to users like Limit order, Market order, Stop limit order, Stop market order
  • Multiple security features like 2FA, SMS and google authenticator.

Disadvantages of Using Binance

Binance might be first on the list of top 5 bitcoin and crypto trading sites, but they still have some cons or disadvantages associated with them, some of Binance disadvantages:

  • Binance supports a limited version for US users.
  • The user interface on Binance is tailored towards more advanced users
  • Binance.us does not support some US states like New York and Texas

Binance also has a lite version for crypto Noobs

2. CoinBase

Coinbase ranks 2nd on the list of the top 5 bitcoin and cryptocurrency trading sites for 2021.

Coinbase is among the top exchange sites in the United States. Coinbase supports all the states in the united states of America except Huawei.

Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam. Coinbase is a cryptocurrency trading and exchange site in America with no physical office.

Coinbase is the largest Cryptocurrency trading or exchange site in the united state by trading volume. Coinbase recently made Dogecoin tradeable on their platform.

CoinBase Gas Fees

Coinbase is among the top 5 cryptocurrency exchange sites globally and a major trading site in the United States. Coinbase offers two trading versions, including the pro and lite version.

CoinBase Fees for Non-Pro Version

Users that are not using the Coinbase pro experience high Gas fees when trading or exchanging cryptocurrency on Coinbase.

Coinbase fees vary across different countries and regions, but Clacified will focus on the United States for simplicity.

Wallet Funding Fees for the Non-pro CoinBase Version

Payment Method

Coinbase Fee

Bank Account

1.49%

Coinbase USD Wallet

1.49%

Debit/Credit Card

3.99%

ACH Transfer

Free

Wire Transfer

$10 ($25 outgoing)

Crypto Conversion

2.00%

CoinBase Fees for Transactions on the Non-Pro Version

Transaction Amount

Fees Charged

<$10

$0.99 | €0.99 | £0.99 

$10-$25

$1.49 | €1.49 | £1.49

$25-$50

$1.99 | €1.99 | £1.99

$50-$200

$2.99 | €2.99 | £2.99

CoinBase Fees for Pro Version

Coinbase charges low fees for the user currently on the pro version.

The Fees charged on the pro version are also less complicated; for instance, Digital Assets and ACH (Automated Clearing House or Direct deposits) transfers are free, both for withdrawal and deposits.

CoinBase charges $10 for withdrawal with wire transfers and $25 for deposits with a wire transfer.

Advantages of CoinBase

Coinbase is the 2nd among the top 5 bitcoin and cryptocurrency trading sites for 2021.

Coinbase offers users some advantages while trading or making exchanges; below are some of the advantages of trading or making cryptocurrency exchange on the Coinbase platform:

  • Coinbase comes with a simple interface.
  • Coinbase offers high liquidity, which protects investors from serious price slippage.
  • Coinbase is gauged with a secured security layer to protect users
  • Coinbase is available to all the states in America except Huawei

Disadvantages of CoinBase

Coinbase also comes with its own demerits or disadvantages in comparison to other cryptocurrency exchange sites. Some of the disadvantages are listed below:

  • High Fees for non-pro users
  • Coinbases does not support a variety of altcoins options
  • Coinbase uses a centralized wallet system

Coinbase is the largest cryptocurrency trading/echange platform in the United States.

3. Kraken

Kraken is another name on the list of the top 5 bitcoin and Cryptocurrency trading site. The San Francisco based firm ranks 3rd on the list of the top 5 cryptocurrency exchange site.

Kraken serves as both a bank and a cryptocurrency exchange/trading sites. As a United States-based exchange sites. Kraken offers a fiat-to-crypto currency exchange site that has listed over 70 currencies on its platform.

Kraken was established in 2011 by Payward Inc. Kraken gained prominence after it was selected by Bloomberg terminal to provide them with price information of bitcoin in 2014.

Kraken also gained more credibility after Mt. Gox (a cryptocurrency exchange) filed for Bankruptcy; the exchange company, Kraken, was selected among the firms that will help recover the over 850 000 lost bitcoins in 2014.

Kraken required mt. Gox's users to open a Kraken account before accessing their crypto assets.

By 2016, Kraken has approved numerous claims from Mt. Gox's creditors. The above policy increased Kraken's trading volume and popularity.

Kraken Gas Fees

Kraken charges low gas fees in comparison to other leading cryptocurrency exchange/trading sites. Kraken charges no fee when funding your Kraken account from your wallet, while Coinbase charges at least 1.49% for the same transaction.

Though ACH transfers on Kraken are charged at 1.7% + $0.10 while Coinbase is free, Crypto conversions on Kraken is between 0.09% to 0.015%.

While trading on Kraken, they charge 0% to 0.05% based on rolling 30-day volume.

Kraken helped in payng back Mt. Gox's creditors.

Advantages of Using Kraken

Kraken offers some good qualities, which are listed below:

  • Kraken Ranks high based on a simple User interface.
  • Kraken gas fees are relatively cheap.
  • Kraken is available in about 176 countries.
  • Kraken allows users to withdraw money into their linked bank account
  • Kraken offers Cryptowatch, a free service that provides price and market analysis of over 8000 cryptocurrencies.

Disadvantages of Using Kraken

  • Kraken's mobile App is not available in seven countries, including the USA and Japan.
  • Kraken was hit with a Distributed Denial of Service (DDoS) attacks in 2017.

4. Gate.io

Fourth on Clacified's list of the top 5 bitcoin and cryptocurrency trading (exchange) sites is Gate.io. Gate.io is one of the oldest cryptocurrency exchange site.

The cryptocurrency trading site was founded in 2013 by Lin Han with a headquarters in Cayman Island. Gate.io has over 180 different coins on its platform; they also offer over 400 unique crypto market.

Gate.io lost over 7000 BTC to a web hack in 2015.

Gate Technology Inc. raised $64 million in crypto to support the Gatechain decentralized exchange (DEX) project.

Gate.io Gas Fees

Gate.io charges a relatively low Gas fee for transaction processing on the trading/exchange site.

Traders pay no fee for deposits on Gate.io and 0.2% for spot and margin trading.

Gate.io charges a low fee when you withdraw coins like USDT, ETH or TRX, but they charge high for withdrawing XMR, XRP or BTC compared to Binance, Bittrex, Poloneix, HitBtc and Bithoven.

Profits and gains are associated with cryptocurrency trading.

Advantages of Using Gate.io

There are some benefits attributed to the use of Gate.io. These benefits have helped place Gate.io on the list of top 5 bitcoin and cryptocurrency trading sites in the world for 2021.

The cryptocurrency exchange site offers the following advantages or goodies to their customers:

  • Relatively low Gas fee for withdrawing coins like USDT, ETH and TRX.
  • Gate.io charges no gas fee for deposits.
  • Gate.io ensures High-end security by using 2FA (google authenticator and SMS), login verification, withdrawal password, Anti-Phishing code and Blind IP logins.

Disadvantages of Using Gate.io

Gate.io comes with many benefits, but there are some cons or disadvantages associated with the popular trading platform.

Some of the disadvantages of using Gate.io are tabulated below:

  • Gate.io does not support Fiat-to-Cryptocurrency transaction
  • The Gas Fee for withdrawing BTC and Ripple on Gate.io is relatively high
  • Gate.io, like any other cryptocurrency trading or exchange sites, are decentralized and therefore prone to hack
  • While trading Gate.io, you can trade with 10x leverage, invest in an Initial Exchange offering via its Gate.io Startup platform
  • With Gate.io, you can perpetuate swap contracts.

5. KuCoin

Kucoin is both a cryptocurrency trading/exchange site and a crypto token issued by the company Kucoin.

KuCoin (cryptocurrency trading site) has an average daily trading volume of over 1.2 billion dollars according to the Coin market cap. The cryptocurrency trading site, Kucoin, ranks 5th on coin market cap based on trading Volume.

Therefore, Kucoin is the 5th top bitcoin and cryptocurrency trading site on Clacified's radar.

The Kucoin token is valued at about 8 dollars (Price expected to change with market volatility. The Kucoin token is used as trading fees on the KuCoin cryptocurrency trading site.

The KuCoin cryptocurrency trading site was launched in 2017, though a new cryptocurrency trading site, Kucoin, has gained popularity.

The KuCoin cryptocurrency trading site supports over 200 crypto coins with over 450 cryptocurrency pairs. Kucoin's cryptocurrency trading site was initially launched with no support for fiat trading.

The above policy changed after a partnership with a European Fintech company, Simplex. The partnership with simplex helped Kucoin bridge the gap between crypto and fiat.

KuCoin Gas Fees

The cryptocurrency trading site, KuCoin charges no fee for deposits into your Kucoin wallet. Concerning the withdrawal of crypto, Kucoin charges based on the standard mining rate of the particular coin.

On the Kucoin cryptocurrency trading site, trading fees outside the future arena are charged at the rate of 0.1%.

Advantages of using Kucoin cryptocurrency Trading Site

Some of the advantages of using the Kucoin cryptocurrency trading site has been stated above, but other merits linked to the use of the Kucoin cryptocurrency trading site are:

  • The trading and gas fees on KuCoin is somewhat low when compared to other crypto trading sites
  • Kucoin allows users who hold more than 6 KCS to earn a daily revenue (from 50% of kucoin's daily trading fees)
  • Kucoin comes with a standard trading interface
  • Kucoin has both an android and IOS mobile application.

Disadvantages of using Kucoin cryptocurrency Trading Site

There are certain demerits associated with the cryptocurrency trading site Kucoin. Some of the disadvantages of using the Kucoin site are:

  • Depositing fiat with simplex will cost you 2.5-3.5%, and you can transact only a minimum of $10
  • No national licensing body does not regulate Kucoin
  • Kucoin does not require an ID before you can trade (could be an advantage for others)

Kucoin token holders are eligible to earn passive revenue from KuCoin.

Our Verdict

The world of cryptocurrency has gained loads of attention in the past few years. Cryptocurrency has created a digital economy and market that has yielded profits for many.

The Cryptocurrency market has a high volatility that has been a curse or a blessing for many users.

To make profit or loss on cryptocurrency, transactionss are carried out using one of the above or any other cryptocurrency trading site.

Clacified compiled the list of the top 5 bitcoin and cryptocurrency trading site for 2021 to give crypto etthusiats a purview of what they should be looking out for before choosing their default trading site.

There are still other major cryptocurrency trading/exchange site in the world like:

  • Huobi Global
  • Bithumb
  • Bitfinix
  • Bitstamp
  • Coinone Etc.

Note that all these major trading sites use a decentralized or hot wallet to store cryptocurrencies, the implication is, they are prone to internet hack or attack.

You can use a cryptocurrency trading/exchange site to place trades or swap fiat for a cryptocurrency.

The trading aspect comes with a high margin of loss that could liquidate your crypto assets in seconds or give you a 1000% profit in mini-seconds.

Clacified advises you trade with care and Do your Own Research (DYOR) before any trade.

So please trade with utmost caution.