There’s many crypto exchanges out there. But, there’s not many good ones. The good ones typically have several common features – user-friendly interface, low fees, good security, real volume, etc. In that line of thought, we decided to ask random professionals from various fields of work about which crypto exchange they use and why.
While the top picks were no surprise, there were a few curious choices. Before we get to quote the people we interviewed, we will first list the top picks in descending order, based on number of votes of confidence.
- Coinbase – 9
- Binance – 7
- Kraken – 2
- BitMEX – 2
- Coinmama – 1
- Gemini – 1
- Luno – 1
- Shakepay – 1
Why are there more than 21 votes? Because some people reported using one exchange for certain operations and another exchange for other operations. An example would be using Binance for crypto-to-crypto trades and Kraken for fiat deposits/withdrawals.
The crypto exchanges professionals prefer and why
21 people, 8 different exchanges. Here’s why these professionals use what they use.
Jon Dulin, CEO of Compounding Pennies, uses Coinbase:
My name is Jon and I love using Coinbase. I’ve been using their exchange for 2 years now. What I like most about it is how easy it is to navigate around the site. Also, I really like how they take security seriously. The 2 factor log on process makes me feel at ease investing through them.
Mark Hemming, Founder at Libra Translation, uses BitMEX:
I use Bitmex [sic] because it’s easy to get to grips with, has good security features and offers a wide range of cryptocurrency combinations.
Rob Behnke, President at Halborn, a cybersecurity company working with Stellar, IBM, Salesforce and other prominent companies in the sector, uses Coinbase:
The past few years I mostly use Coinbase Pro. I’m mostly trading in and out of bitcoin and stopped altcoin / ico trading around 2 years ago. Since I’m a taxpaying American, it’s the most secure and most compliant exchange at the moment.
Nelli Orlova, CEO at InnMind, uses Binance:
I use mostly Binance only for 3 reasons: First, their KYC process is simple and doesn’t include extra complicated procedures and processes, like many other exchanges. Second, their user interface is quite standard, gives you the necessary minimum of tools to track and analyze. Third, their cash in – cash out process is simple, withdrawal is fast, it seems they managed to build the business processes in a customer-friendly way.
Heidi Hecht, owner and content writer at HeidiHecht.com, uses Coinmama:
When I use a cryptocurrency exchange at all, I normally use CoinMama.com. It’s easy to use, they don’t hold your cryptocurrencies for you (basically, bring your own device), and their customer service is pretty good.
Shanka Jayasinha, CEO of Edge AI Technologies and CIO of S&J, uses a combo of Kraken and Binance:
We use a combo of Kraken & Binance as they are both secure, have good data and have insurance. Kraken enables us to convert our FIAT into crypto which we then might move to Binance to buy more altcoins if I believe they have good momentum.
Jane Flanagan, the lead project engineer at Tacuna Systems, uses Luno:
I use Luno because it’s very intuitive, fast, reliable, and has reasonable fees. Also, it has never had downtime.
John Doherty, founder and CEO of Credo, uses Coinbase:
I am a reluctant crypto owner and I use Coinbase because I got into Bitcoin (a small amount) in 2017 when it was growing fast. Coinbase was the market leader, trusted, and the purchase process was easy. I believe I even set up a few recurring purchases to dollar-cost average the buy.
Austin Tuwiner, owner of BitPremier, uses a combination of Gemini, Coinbase, and Binance:
Gemini and Coinbase are great exchanges for buying crypto with fiat, and Binance is the best option for altcoins. Gemini is the world’s first regulated exchange and under NY’s strict crypto regulations, Coinbase is the largest crypto purchasing platform in the US, and Binance is the largest crypto exchange in the world.
Tony Pham, head of marketing at Kadena, uses Coinbase:
I use Coinbase because of the ease-of-use and commitment to compliance. Since I live in New York, another reason I use Coinbase is that they have a Bitlicense [sic].
Lorenzo Walz, founder of Pandamanshop, uses Coinbase:
I use Coinbase because I run a [US-based] company – they are regulated here, offer tax services, and I never have to worry about liquidity or timing issues. Their customer service is quick / responsive and I’ve never had any issues with them. I’ve done around 50BTC in transactions over the last 5 or so years.
Eliott Teissonniere, blockchain architect at Nodle, uses Kraken:
I like to use Kraken to acquire or sell cryptocurrencies because it’s simple enough to use and supports numerous security features. When it comes to more advanced operations, I rely on Decentralized Finance (DeFi) products such as Decentralized Exchanges, liquidity providing platforms or even smart loans. This provides me with more flexibility, control and trust over my portfolio.
Yasir Shamim, digital marketing executive at PureVPN, uses Coinbase:
Coinbase (despite their support issues) is extremely reputable as an exchange IMO [in my opinion]. They have good security features (2FA, vaults), good fees (if you’re trading as a maker), and the instant bank buys are a huge upgrade. Take all of this and add the GDAX API which is well documented and easy to develop around. I’m able to run multiple bots, for free, and withdraw my gains, for free. Unless they are selling all my information to the government, they aren’t making a whole lot off of me as a user.
Dave Parkinson, COO at Lamourie Media, uses several exchanges to achieve results:
I’m registered on a number of exchanges including Coinbase, Coinsquare and Coinfield to name a few. So far the most convenient exchange I’ve found in Canada to purchase Bitcoin or Ethereum from is Shakepay. You can quickly fund your exchange account with a simple interac [sic] e-transfer from your bank, and just as easily withdraw funds to your bank using the same method in a matter of minutes. I can then use the other exchanges I’m on to purchase additional [altcoins] if I need to.
Liam Hunt, financial writer at SophisticatedInvestor.com, uses Coinbase:
I use Coinbase for its solid security features, such as two-factor authentication and secured vaults, instant bank purchasing, low fees, and, most importantly, FDIC insurance.
Ingmar Folk, founder of CoinFlip Trading Consult, uses Binance:
I prefer Binance for trading cryptos [sic]. They offer a massive variety of coins and you can find good liquidity all over the place which is especially important to traders.
Nahid Rahman, director of operations at TKIL, uses Coinbase:
My crypto-exchange [sic] of choice is Coinbase. As a hobbyist, I have experimented with several exchanges over the years. However, Coinbase’s support for a wide range of cryptocurrencies and its built-in wallet works best for my needs. I can conveniently access my wallet and perform transactions seamlessly from my PC, Android and iOS devices.
Michael Astashkevich, CTO at Smart IT, uses BitMEX:
I picked Bitmex [sic] because it offered a solid API around which I could build my own Machine Learning powered auto-trading solution. It just made my job that much easier.
Ian B., president at Kredmo, uses Binance:
I mainly use Binance because it was simple to open an account on their site. It has good security measures in place such as 2-factor authentication and they have available most of the cryptocurrencies I want.
Aryan Agarwal, founder of Financetasy, uses Binance:
I use Binance because of the features they provide. Mainly because of the security they provide even after being [hacked]. They gave back each and every coin to their customers. This makes me trust them.
Henry Standley, CEO at ICOAxiom, uses Binance:
The exchange that I use to invest and trade cryptocurrencies [is] Binance. They offer a lot of different cryptocurrencies to invest [in], their app is easy to use and trade [with] and their fees are reasonable.