For many years cryptocurrency exchanges have operated in a “legal grey area”, causing many users of these platforms to suffer from low quality standards in the industry. This trend was finally reversed after the bankruptcy of Mt.Gox in 2014. The bankruptcy sent shock waves through the industry, prompting many exchanges to open up and allow for public reserve audits. Regulatory frameworks such as New York’s BitLicense entered the stage as well. Altogether the former has led to the professionalization of cryptocurrency exchange services, although the differences between various platforms are still significant. The exchange reviews at Digiconomist strongly reflect these differences, as legitimacy is a major component of every review. Exchanges are subjected to a high (and unique) level of scrutiny through Digiconomist’s proven Fraud Assessment framework.
Rank Photo Summary Rating Action 1 GDAX/Coinbase
• Regulated exchange (BitLicense) • ACH deposits (free of charge) and Instant buy via Visa or MasterCard
Rated 4.1 stars Visit Site 2 Bitstamp
• Regulated exchange (national license passportable into the 28 EU member states) • SEPA deposits (very low costs)
Rated 3.8 stars Visit Site 3 itBit
• Fully regulated exchange (trust charter) • Extensive guides
Rated 3.7 stars Visit Site 4 Gemini
• Regulated as a trust company • High liquidity resulting in very low bid-ask spreads • Supports ACH transfers • Minimalistic design
Rated 3.7 stars Visit Site 5 Kraken
• Strong liquidity in EUR markets • Margin trading / short selling supported • Extensive documentation high on educational value
Rated 3 stars Visit Site 6 BTCC [Closing]
• No trade fees & near zero bid-ask spreads
Rated 2.9 stars Visit Site 7 Coinfloor
• Liquid GBP order book • Frequently publishes Proof of Reserves reports • Low cost funding for SEPA zone users • Strong documentation
Rated 2.8 stars Visit Site 8 Gatecoin
• Fiat funding is cheap for many areas • Strong documentation and risk disclosure
Rated 2.5 stars Visit Site 9 Bter
Rated 2.5 stars 10 CampBX
Rated 2.5 stars 11 BitBay
• Low cost funding for SEPA zone users
Rated 2.3 stars Visit Site 12 ANXPRO
• Supports all major global currencies • Adaptive user interface
Rated 2.1 stars Visit Site 13 Bittrex
Rated 2 stars Visit Site 14 BTC Trade [Closing]
Rated 2 stars 15 Poloniex
• Many altcoins to trade in • Margin trading in altcoins
Rated 1.7 stars Visit Site 16 Bitfinex
Rated 1 stars Visit Site 17 LakeBTC
Rated 1 stars Visit Site 18 BTC-e [Closed]
Rated 1 stars Visit Site 19 OKCoin [Closing]
Rated 1 stars Visit Site 20 HitBTC
Rated 1 stars Visit Site 21 Huobi [Closing]
• Strong liquidity in local spot market (CNY)
Rated 1 stars Visit Site