Cryptocurrencies have grown in popularity in the last few years since the medium was embraced by most financial institutions in 2017. As with conventional financial institutions, crypto exchanges offer rewards to differentiate them from the competition and to encourage new traders to join the platform.
In this comprehensive review, you can find a rundown of the best crypto exchanges that offer rewards and incentives.
How Did We Judge Crypto Exchanges?
The crypto exchanges in this review have been compiled according to their rewards to traders. Crypto rewards are staking rewards that allow customers to earn passive income with their bought tokens or credit cards and lending facilities with lower interest rates and earning capabilities.
Cryptocurrency Exchanges With Rewards
Crypto.com
Crypto.com is a cryptocurrency exchange that’s good for traders. If you want to do more than buy crypto coins and wait for them to appreciate, then you can benefit from the Crypto.com exchange. Impressively, Crypto.com supports 0ver 150 cryptocurrencies and 10 million global users, and it also uses rewards.
Pros
Since Crypto.com supports over 150 cryptocurrencies, the platform can be used to trade cryptocurrency on an everyday basis making the medium more like conventional currency. Crypto.com also provides a Visa card with 8% spend and other rewards.
Cons
As with all cryptocurrency platforms, Crypto.com has fees to pay. While these fees are not the highest for this type of service, they aren’t the lowest either; typical trade fees are around 0.4% on monthly trades less than $25,000. Security can also be a concern, so ensure you have a strong password.
BlockFi
BlockFi is a crypto platform with a difference; this innovative crypto platform has a range of services to suit serious crypto-traders. For one thing, the platform doesn’t have any transaction fees on trades; it also provides various interest-bearing accounts and has interest-free loans. And there are rewards.
Pros
If you decide to choose BlockFi as your crypto platform account, you will benefit from zero transaction fees, no minimum deposit funds, and no commission fees. BlockFi is also a US-based crypto platform that is fully regulated with a low-interest rate credit card, and a refer-a-friend mechanism.
Cons
That said, not every crypto platform is perfect, and BlockFi is no exception. With BlockFi, you cannot open any joint accounts or custodial accounts, and there is a limited withdrawal from interest accounts. If you do take out a loan from BlockFi, you might experience some APR and loan-rate volatility.
KuCoin
KuCoin is one of the largest crypto exchanges in the world, offering the ability to buy, sell and trade a wide range of cryptocurrencies. Along with basic trading options, KuCoin offers margin trades and peer-to-peer trading (P2P). Rewards are also available to traders who want to stake or lend their coins.
Pros
If you choose KuCoin for your crypto exchange, you’ll benefit from excellent fees in comparison to similar services. The fee is also transparent, so there are no hidden fees to worry about. The KuCoin crypto exchange is also easy to use and offers a range of trading options as well as rewards to native coin holders.
Cons
The KuCoin crypto exchange is unregulated, meaning that users don’t have the same level of insurance that they would get with a regulated exchange like Crypto.com. Additionally, KuCoin is not the most user-friendly platform and might be difficult to navigate for some novice traders new to crypto coins.
Coinbase Pro
Coinbase Pro is one of the largest and most trusted cryptocurrency exchanges in the world. Based in the US, Coinbase Pro offers over 100 cryptocurrency coins to trade and is insured against any losses. Unlike Coinbase, Coinbase Pro has additional functionality allowing users flexible trading options.
Pros
Coinbase Pro builds on the services offered by Coinbase, providing more cryptocurrencies to trade and more flexibility for trading. For instance, the Coinbase Pro crypto exchange lets users make crypto-to-crypto transactions and limit and stop orders. There is also better security and a low minimum fund.
Cons
In comparison to alternative crypto exchanges, Coinbase Pro has higher fees. Expect to pay between 0.5-4.5% to operate on the platform instead of an average of between 0.5-3.99%. Although the fees are slightly higher, Coinbase Pro is suitable for those seeking convenience or looking for easy conversions.
Bybit
The Bybit crypto exchange is a little bit different from conventional crypto exchanges. For one thing, the Bybit platform is a crypto derivatives exchange that allows buyers and sellers to speculate and agree on the price of a future digital asset. It has no minimum commitment and excellent security.
Pros
If you are interested in a crypto exchange that offers derivatives, then Bybit is an excellent choice. Bybit offers up to 100 times the leverage of cryptocurrency and is also very secure for a non-US-based crypto trading platform. Benefit from advanced tools, a risk-free test environment, and rewards.
Cons
While crypto exchanges like Bybit have plenty of rewards and benefits, there are some clear downsides to operating on the Bybit platform. Firstly, Bybit is unfortunately not available in the US. It’s also part of the derivatives market, meaning trading on Bybit is somewhat riskier than on other exchanges.
FTX
FTX crypto exchanges are an excellent choice for those wanting to trade cryptocurrency and crypto derivatives. The platform guarantees liquidity for users and charges low fees for all tradable assets. As well as this, FTX offers an excellent commission structure and rewards programs for frequent traders.
Pros
FTX differentiates itself from the competition by offering a variety of indices and leverage tokens that aren’t found on similar crypto exchanges. Although FTX has robust security protocols, it doesn’t require users to verify their identity before withdrawing more than $1000, streamlining the exchange.
Cons
FTX does have some disadvantages though. Primarily that it’s not one of the primarily crypto exchanges and hasn’t been tested to the same extent. So while its competitors, such as BitMex and Deribit, offer fewer perpetual swaps, these platforms have a better user experience overall and offer substantial security.
Phemex
The Phemex trading platform is a complete trading solution for cryptocurrencies and offers leverage up to 100 times your initial investment. This crypto trading platform also accepts credit card deposits and offers different ways to earn interest on your coins. In addition to this, it also has a rewards program.
Pros
The first thing you’ll notice when you switch your crypto trading to Phemex is the low fees that are available. Standard users will pay just 0.1% of the transaction while premium members benefit from zero trading fees. Phemex also has a highly-rated mobile app for flexible trading and flexible deposits.
Cons
The downside of Phemex is the complex fee structure that might confuse new users and result in unexpected costs and trading contracts. The Phemex platform also requires withdrawal fees for your cryptocurrencies along with minimal withdrawal amounts. Also, be aware that Phemex doesn’t have a lending service.
StormGain
There has to be an exchange for people who want to start trading crypto, and this is it! StormGain is one of the best crypto exchanges for beginners, offering newbies the chance to trade and store cryptocurrencies with ease. StormGain also has competitive trade fees, margin trading, and rewards.
Pros
StormGain is naturally the best crypto exchange account for beginners, and there are a few reasons why! StrormGain is an all-in-one platform with a mobile and desktop app so users can trade and learn about trading wherever they are. Add to this the bonus of instant withdrawal competitive fees and deposit bonuses.
Cons
Although StormGain is the obvious choice for traders new to cryptocurrency investing, there are a few things to keep in mind. The first thing to consider is that StormGain is unregulated in most countries, making it a little bit riskier. There are also no automated bots for StormGain, so trading is independent.
AscendEX
AscendEX is a robust all-around trading system and one of the best crypto exchange communities you can find. This cryptocurrency exchange is best for spot trading, margin trading, and futures trading, and it facilitates most of the best-known cryptocurrencies.
Pros
The AscendEX platform is the best crypto exchange for trading tokens, so if you’re a seasoned investor raising funds, choose the AscendEX platform. The AscendEX platform is also flexible and portable; it benefits from a mobile app and low trading contracts so you can obtain better value on digital holdings.
Cons
If you like to trade Fiat currency, then the AscendEX platform is not the place for you; AscentEX doesn’t accept Fiat currency, only blockchain-derived digital money. Ascend EX is also not the best crypto exchange for beginners because it has no demo account, and there is no call center to contact to seek advice.
BitMart
BitMart is one of the biggest and best crypto exchanges on the planet, so it’s no surprise that it offers a full range of features and the ability to trade crypto in over 180 countries. Not only that, BitMart allows you to trade over 800 currencies, tokens, and assets. That said, it’s wise to remember that the platform was successfully hacked.
Pros
BitMart is larger than most crypto exchanges and has a mobile app to make accessing it more convenient. This is one of the best platforms for beginners and seasoned crypto traders because of the size of the exchange. Although it was hacked, this has only made it a more secure crypto exchange.
Cons
While BitMart is a reliable place to exchange crypto assets, there are some downsides that might make you think again. For one thing, the platform doesn’t receive the best customer feedback online owing to its scale and lack of customer service. There are also the security vulnerabilities that were exposed in 2021.
BitYard
BitYard is a crypto exchange that was established in Asia and it aims to encourage users to make complex trades in an easy-to-understand format. For this reason, BitYard is a useful place to start for beginners but still captures an experienced user base thanks to its user-friendly platform and excellent fees.
Pros
BitYard is a great place for beginners to start trading complex crypto trades right away and its intuitive interface is suitable for both newbies and crypto-veterans. There are also some good opportunities to earn on BitYard, thanks to its high-frequency transactions and mobile app.
Cons
The downside to BitYard is that withdrawals are limited, forcing users to keep their money tied up in a digital asset. If you want to withdraw from BitYard you can do so but only in the form of USDT. Furthermore, there are no Fiat withdrawal options, so you might struggle to withdraw money from BitYard.
BitForex
BitForex is a new kid on the block in the world of crypto exchange companies. And although it’s new, the platform is safe and legitimate, with over 3 million consumers currently trading as cryptocurrency investors. BitForex boasts a range of excellent features and tools that will help your crypto wallet to grow.
Pros
The is no shortage of crypto coins to trade at BitForex. The platform doesn’t have the same intent as larger crypto trading platforms, but it still supports 163 crypto coins. Furthermore, BitForex offers high liquidity and low trading costs, making it an attractive option for those seeking trading value.
Cons
New decentralized exchanges are welcome because they often differentiate themselves from what is already available, however, they also come with some downsides. In the case of BitForex, it lacks transparency with the possibility of hidden fees, and in addition to this, many features require upgrades.
BitFinex
BitFinex is one of the more agile decentralized exchanges, known for its low fees and stable currencies, and is worth a look for advanced traders seeking additional value. That said, there are a few downsides to trading on the platform; for one thing, they have a checkered history that includes fines.
Pros
The best thing about BitFinex is the low trading costs that allow traders to get additional leverage on their currencies. There are zero fees for cryptocurrency deposits and no requirement to become a premium member of the platform. However, you pay a small fee for Fiat deposits and minimum sums.
Cons
BitFinex is worth a look if you like a gamble, but it’s worth bearing in mind the platform has had some controversies over the years. BitFinex has a history of fines and is deregulated, which might put some traders off investing their coins with them. Additionally, BitFinex is not available in the United States.
Coinbase
If you want a reliable and trustworthy crypto market, then take a look at Coinbase. Coinbase is one of the largest and most popular centralized exchanges in the world, and is based in the United States. Not only does it provide excellent customer support, but it trades 100 currencies and offers rewards.
Pros
There are 3 excellent reasons to choose Coinbase as one of your main centralized exchanges. Firstly, it trades nearly 100 currencies giving you plenty of choices. Secondly, it also has a low minimum fund account, making it good for beginners. And thirdly, it is fully insured, securing it against potential hacks.
Cons
While Coinbase offers plenty of advantages to both beginner and experienced traders, there are a few things to consider before you invest your money. As one of the largest global digital currency exchanges, Coinbase has higher fees than any other cryptocurrency trading platform.
Celsius
Celcius is a crypto trade system that suits beginners and experienced traders interested in passive income. The focus of Celcius is lending, borrowing, and earning. It also has a cryptocurrency app that is convenient for tracking and investing currency. In addition to this, Celcius also has a great customer support and rewards system.
Pros
Celcius is an excellent platform for all traders; it offers a robust DeFi service and rewards for using its CEL token. Celcius also has a CelPay service that makes transferring funds simple and convenient. And with $30 million dollars for insurance cover, you can have confidence in your Celcius wallet.
Cons
The downside to using Celcius is the highly centralized exchange that restricts some transfers and movements. Celcius also has a limited number of tokens and coins to choose from. The company isn’t not based in the United States either, and US traders are unable to secure CEL tokens or their benefits.
MEXC
MEXC is a professional trading system with high trading volumes and excellent customer support. This platform is designed and operated by former Wall Street professionals and offers a secure hub for trading global digital assets. MEXC offers SPOT trading, margin trading, leveraged ETF, and more.
Pros
The MEXC platform is a professional choice that prides itself on features and security measures. MEXC benefits from 3 things, supernodes, advanced security measures, and a high-performance platform. Whether you want to trade daily or earn passive income, you can with the MEXC platform.
Cons
There are some excellent opportunities to increase your trading volume with MEXC, especially since it has access to customer support services. That said, there are some downsides, such as trading without margins, and you won’t be able to trade Fiat currencies.
Bittrex
Bittrex is an excellent overall crypto trading system that can help you to increase your trading volume on a very secure trade platform. Bittrex will suit traders wanting to benefit from lower fees and advanced order types that further reduce the risks of trading. Bittrex also provides attractive rewards.
Pros
If you want to trade with Bittrex, there are plenty of advantages. For instance, you can benefit from many trading pairs offering plenty of opportunities to increase your cryptocurrencies. Bittrex also offers Fiat deposits and high liquidity with easy withdrawals and excellent security measures.
Cons
Bittrex doesn’t support margin trading, meaning you can’t borrow from the broker to make investments. This can be a potential downside for traders, although it does support robust security measures. Extensive verification is also used to improve Bittrex security but can be a disadvantage to some customers.
What To Look For When Choosing A Crypto Exchange
Cryptocurrency traders need to have a platform to trade on, but what should you look for if you’re new to the business? It depends on what your requirements are, but in general, you should look for positive reviews, security, liquidity, and accessibility, as well as whether the platform support coins and tokens.
FAQs
What kind of rewards can I expect when signing up for an exchange?
To encourage traders to buy cryptocurrency with the exchange, rewards are offered in the form of staking. This means you can invest your tokens in the pool and earn a passive income of between 5 – 20%, which turns your cryptocurrency exchange into a savings account with a better interest rate.
Which exchange is best for Altcoins?
AltCoins refers to any form of cryptocurrency that isn’t BitCoin. As you might imagine, there are quite a few to choose from, so which exchange is best for AltCoins?
The short answer is Gemini and CoinBase. These platforms offer the largest number of AltCoins and the best exchange mechanisms for them.
Which crypto platforms are the safest?
In the past few years, cryptocurrency has grown in popularity, but at the same time, there have been some security breaches in crypto wallets.
Nowadays, Crypto exchange platforms take additional security measures to secure wallets. The safest of these are Coinbase, Binance, Coinmama, and Bittrex.
Which crypto exchanges have the lowest trading fees?
Trading fees for cryptocurrencies are rates of commission for the trading platform. You’ll find that some of the platforms have fixed trading fees, while others have fees that vary according to the demands of the market.
Depending on what your main goal is, it’s a good idea to do your homework into the various fees to find a cryptocurrency site to suit you.