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Best cryptocurrency exchanges

Find the best cryptocurrency exchange for beginners, low fees and more.

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You can use a cryptocurrency exchange to buy, sell and trade cryptocurrencies such as Bitcoin (BTC) and Ether (ETH). We’ve compared some popular Bitcoin exchanges by different categories to make it easier to find the best for you.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Compare cryptocurrency exchanges you can use in Hong Kong

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Binance Cryptocurrency Exchange
Credit card,Cryptocurrency,Debit card,Osko,PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

262
cryptocurrencies

Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Coinbase Digital Currency Exchange - HK
Bank transfer (ACH),Credit card,Debit card,Bank transfer (SEPA),Wire transfer
USD, EUR, GBP

27
cryptocurrencies

Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
Kraken Cryptocurrency Exchange
Electronic Funds Transfer,Wire transfer,Osko,PayID,Ethana Custody
USD, EUR, GBP, JPY, CAD, CHF, AUD

50
cryptocurrencies

Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.

UK residents: In addition to normal crypto trading, Kraken offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
CEX.IO Cryptocurrency Exchange
Bank transfer (ACH),Credit card,Bank transfer (SEPA), Faster Payments Service,Skrill
USD, EUR, GBP, RUB

22
cryptocurrencies

Disclaimer: Highly volatile investment product. Your capital is at risk.
Use your USD, EUR or RUB to buy and sell cryptocurrency at competitive exchange rates and with high maximums for verified accounts.
Poloniex Digital Asset Exchange
Credit card,Cryptocurrency
USD, EUR, AUD, CAD, CHF, CZK, DKK, GBP, HUF, ILS & 20+ more

115
cryptocurrencies

Trade various coins through a global crypto to crypto exchange based in the US.
Coinmama Cryptocurrency Marketplace
Credit card,Bank transfer (SEPA),SOFORT,SWIFT,Fedwire
USD, EUR, AUD, CAD, GBP, JPY

10
cryptocurrencies

Founded in 2013, CoinMama lets you buy and sell popular cryptos with a range of payment options and quick delivery.
Paybis Cryptocurrency Exchange
AdvCash,Credit card,Debit card,Neteller,Payeer
EUR, GBP, USD, AUD, CAD, PHP, SGD, CHF, HKD, JPY & 30+ more

9
cryptocurrencies

Buy Bitcoin and other popular cryptocurrencies with credit card or debit card on this digital cryptocurrency exchange.

US residents: Restricted in the following states - NY, CT, NM, WA, HI, AL, VT, FL, AK, NV.
CoinSwitch Cryptocurrency Exchange
Credit card,Cryptocurrency
USD, JPY, RUB, EUR

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Paxful P2P Cryptocurrency Marketplace
Bank transfer,Cash,Credit card,Cryptocurrency,Debit card
DZD, XCD, ARS, AMD, AWG, AUD, AZN, BSD, BHD, BDT & 140+ more

2
cryptocurrencies

Connect with bitcoin buyers and sellers through this peer-to-peer marketplace that accepts cash, credit and more than 300 other payment methods.
KuCoin Cryptocurrency Exchange
Credit card,Cryptocurrency,Debit card
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

210
cryptocurrencies

Finder Exclusive: Get up to 10 USDT in trading fee rebates for signing up and making a deposit, and up to 30 USDT in trading fee rebates after buying with fiat. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
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Compare up to 4 providers

Best exchanges for:

Low feesTrading

Low fee: Binance

Binance is popular for a reason, but it’s also a crypto-only exchange, meaning you’ll need to buy some cryptocurrency with fiat, and then deposit that onto the exchange before you can start trading on Binance.

  • You’ll simply pay a flat 0.1% trading fee at most.
  • It’s possible to reduce this even further by taking advantage of the exchange’s native cryptocurrency, Binance Coin (BNB), and simply paying your trading fees with BNB held in your exchange account.
  • There are different trading fee tiers, with lower fees for users who hold enough BNB coins and maintain certain monthly trading volumes.

Is it safe to store your cryptocurrency on an exchange?

Securely store your crypto:
  • Best Bitcoin wallets
  • Best hardware wallets

Cryptocurrency is held in digital wallets. Some exchanges will give you your own wallet, which lets you hold cryptocurrency in your exchange account and then transfer it anywhere as desired, while others will require you to have your own wallet at the time of purchase.

However, using an exchange for long-term storage is not recommended. As the exchange controls the private key to your wallet, you don’t have total control of your funds. And with exchanges regularly (and sometimes successfully) targeted by hackers, storing crypto on an exchange long-term is very risky.

Learn more about cryptocurrency wallets

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How to choose a Bitcoin exchange

With hundreds of exchanges to choose from, how can you find the best cryptocurrency exchange for your needs? The most important thing to do is to research a wide range of platforms and compare the pros and cons of each option. The best Bitcoin exchange for you depends on what you’re looking for.

Consider the following factors when comparing crypto exchanges.

How to use a cryptocurrency exchange

Buying cryptocurrency with fiat currency

For the sake of our example, let’s assume that you have HK$2,000 that you want to use to buy Bitcoin.

  1. Compare cryptocurrency exchanges to find one that offers the right service for you.
  2. Register for an account on the platform, including providing any personal details and proof of ID required.
  3. Navigate your way to the “Buy” screen.
  4. Select Bitcoin as the cryptocurrency you want to buy.
  5. Select your payment currency, which in this case is HKD, and specify the amount you want to spend as HK$2,000.
  6. Select your payment method, such as a credit card payment or bank transfer.
  7. Enter your payment details, such as your bank account number or your card number and CVV if paying by credit card.
  8. Review the full details of your transaction, including the fees that will apply and the amount of BTC you are purchasing.
  9. If you’re happy to proceed, click “Buy BTC”.
  10. Once the transaction has been processed, the BTC will be deposited into your exchange wallet. However, please note that some brokers will automatically send your purchased BTC to an external wallet address nominated by you.

Buying cryptocurrency with another digital currency

In this scenario, let’s assume that you have 1 BTC that you want to exchange for ETH. Here’s what you need to do if placing a trade on a centralised crypto exchange:

  1. Compare cryptocurrency trading platforms to find one that offers the right service for you.
  2. Register for an account on the platform, including providing any personal details and proof of ID required.
  3. Log into your account and find the BTC wallet address for your account.
  4. Use this address to transfer the 1 BTC you want to trade from an external wallet.
  5. Navigate to the “Exchange” or “Trading” page.
  6. Search for the currency pair you want to trade, which in this case is BTC/ETH.
  7. In the “Buy” field, choose the type of order you want to place, such as a market order or limit order.
  8. Enter the details of your transaction, such as the amount of BTC you want to spend. If placing a limit order, you’ll need to specify your desired ETH price.
  9. Take a moment to review your transaction, including checking the exchange rate and fees that apply.
  10. Click on “Buy ETH”.
  11. Once the transaction has been processed, the ETH you have purchased will be deposited into your exchange wallet.

However, if you’re using a decentralised crypto exchange, the process is a little different. You’ll typically be required to link your wallet to your account, but you’ll then be able to trade directly from wallet to wallet, with no requirement to deposit any funds on the exchange.

Selling cryptocurrency and withdrawing your funds

If you want to sell cryptocurrency on an exchange – let’s say Bitcoin for the purposes of this example – you’ll need to follow these steps:

  1. Log into your account and find the BTC wallet address.
  2. Use this address to transfer the BTC you want to trade from an external wallet.
  3. Navigate to the “Exchange” or “Trading” page.
  4. Search for the currency pair you want to trade, for example BTC/HKD or BTC/ETH.
  5. In the “Sell” field, enter the details of your transaction. Depending on the platform you’re using, you may be able to sell at market rate or potentially place a limit order.
  6. Take a moment to review your transaction, including checking the exchange rate and fees that apply.
  7. Click “Sell BTC”.
  8. Once the transaction has been processed, the currency you have purchased will be deposited into your exchange wallet.

It’s now time to withdraw those funds from your exchange account, but the exact process you’ll need to follow depends on whether you’ve purchased crypto or fiat currency:

  • If you’ve purchased fiat currency, look for the “Withdraw HKD” option from your account dashboard. Select your desired payment method, for example bank transfer or PayPal transaction, and enter all the necessary account details so your payment can be processed.
  • If you’ve purchased another cryptocurrency, you’ll need to first set up a secure wallet where you can store your coins. Copy the address of this wallet, log into your exchange account and select the currency you want to transfer. Remember to double-check that you’re sending the funds to the correct wallet before submitting the transaction.
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How to pay for your cryptocurrency

You’ll need to deposit funds on your cryptocurrency exchange. Bitcoin exchanges accept all sorts of deposit methods, including the following:

  • Credit and debit cards
  • PayPal, Neteller, Skrill and other online payment services
  • Cash deposits
  • Bank transfers
  • Prepaid cards
  • Cryptocurrency transfers
  • Wire transfers

The payment types accepted will vary between exchanges though, so it’s worth checking to ensure your preferred payment method is supported before signing up.

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The different types of cryptocurrency exchange

The term “exchange” can be used to refer to a variety of crypto trading platforms:

Brokers

  • Best for: Crypto novices, those looking for a quick and easy way to buy cryptocurrency
  • The downsides: Costs more than other options; may not offer as wide a selection of cryptocurrencies

Cryptocurrency brokers often offer the simplest and most convenient way to buy cryptocurrency. Buying Bitcoin or any altcoin from a broker is essentially like purchasing from a cryptocurrency shop – the broker buys digital coins or tokens at wholesale rates, adds their own margin on top and then sells the currency on to you.

Brokers offer a quick and straightforward entry into the world of cryptocurrency. Their platforms are designed to be easy to use and you can pay for your crypto purchase with your everyday fiat currency, often even by using a credit or debit card.

The main downside of using a broker is the cost, as you’ll not only need to buy your crypto at a price above the market rate but also pay transaction fees.

One example of a well-known cryptocurrency broker is Coinbase.

Trading platforms

  • Best for: Buying and selling a wide range of currencies; lower fees
  • The downsides: Intimidating for new users and it may not be possible to directly exchange the currencies you want

Cryptocurrency trading platforms are the most widely used platforms for buying and selling digital currency. They connect crypto buyers with crypto sellers and take a fee for facilitating each transaction. You can use these platforms to exchange cryptos at the current market rate or at a specified limit, while some sites also offer more advanced features like stop-loss orders.

Crypto trading platforms tend to provide access to a more diverse range of currencies than brokers, and often feature charting tools to help you plan your trades. These platforms also tend to offer lower fees and better exchange rates when compared with brokers.

However, it’s not possible to directly exchange one crypto for any other digital currency you want – you’re limited to the trading pairs supported by your chosen platform. Bitcoin and Ether are the most commonly traded currencies and feature in pairs alongside a wide range of altcoins. Crypto trading platforms can also be intimidating and confusing for new users.

Examples of some high volume cryptocurrency trading platforms include Binance and Huobi.

Peer-to-peer exchanges

  • Best for: Anonymity, giving you more control over how you trade
  • The downsides: Prices usually higher than market rates; a certain level of risk involved

These platforms allow direct peer-to-peer trading between people all around the world. The exchange acts as the middleman, with the seller able to set their own price and accepted payment methods.

The main advantage of peer-to-peer exchanges is that they let you quickly and anonymously buy or sell coins with almost any kind of trade or payment method you want. The downside is that you’ll often pay above market prices, and it can also be riskier than other options.

To help offset the risks, some platforms have built-in escrow features and reputation systems to identify reliable and legitimate buyers and sellers.

Examples of peer-to-peer exchanges include LocalBitcoins and Paxful.

Next steps

Not all crypto exchanges are created equal, and not all crypto buyers and sellers have the same trading needs. The best exchange for one person might not necessarily be the right choice for someone else, so it’s essential that you do your own research.

Check out our reviews on a range of leading cryptocurrency exchanges in Hong Kong and around the world. Compare the features, fees and pros and cons of each Bitcoin exchange and consider how they align with your trading requirements.

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Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

A-Z of cryptocurrency exchanges

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