Introduction
According to CoinMarketCap statistics, as of May 2025, there are 811 virtual currency exchanges in the market. With so many options available, selecting the right cryptocurrency exchange has become a common challenge for many investors.
The cryptocurrency industry is still emerging, and regulatory frameworks are incomplete. Instances of exchanges collapsing or disappearing are not uncommon. The shocking collapse of FTX in 2022 left many investors losing their entire assets, highlighting the importance of careful selection.
To help you navigate this complex landscape, we will systematically introduce:
- Global and Taiwan-based legal exchange rankings
- Key considerations when choosing a virtual currency exchange
- Potential risks associated with exchanges
Global Virtual Currency Exchange Rankings and Comparisons
While there are many exchanges, most trading volume is concentrated in the largest platforms, such as Binance, OKX, and Bybit.
Below are the top five exchanges as of May 2025, ranked by spot trading volume and market share. Binance continues to dominate with a 38% market share.
Top 5 Cryptocurrency Exchanges by Market Share
| Rank | Exchange | Market Share (%) | Monthly Trading Volume |
|---|---|---|---|
| 1 | Binance | 38.0 | $4.826 trillion |
| 2 | Gate.io | 9.0 | $1.137 trillion |
| 3 | Bitget | 7.2 | $920 billion |
| 4 | MEXC | 7.1 | $905 billion |
| 5 | OKX | 7.0 | $890 billion |
Top 10 Cryptocurrency Exchanges by Comprehensive Ranking
Here’s a detailed comparison of the top 10 exchanges, based on factors like liquidity, fees, supported currencies, and security:
| Rank | Name | Trading Fee (%) | Supported Coins | Launch Year | Fiat Support | Licenses/Regulations | Security Assessment |
|---|---|---|---|---|---|---|---|
| 1 | Binance | 0.1 | 600+ | 2017 | EUR, GBP, BRL, etc. | SFC, FCA, FinCEN | High: SAFU Fund, 2FA |
| 2 | Bybit | 0.1 | 720 | 2018 | USD, EUR, GBP | FCA, ASIC, FINTRAC | High: Cold Storage |
| 3 | Coinbase | 0.5 | 292 | 2012 | USD, EUR, GBP | NYDFS, FCA | Very High: FDIC Insured |
| 4 | Upbit | 0.25 | 242 | 2017 | KRW | VCE, FSC | High: 2FA, Cold Storage |
| 5 | OKX | 0.09 | 350 | 2013 | AED, ARS, AUD, etc. | FSA, DCEA | High: Multi-Sig |
| 6 | Bitget | 0.09 | 755 | 2018 | USD, EUR, GBP | MSB, DCB | High: Anti-Phishing |
| 7 | MEXC | 0 | 218 | 2018 | EUR, USD | MTR, MSB | High: Cold Storage |
| 8 | Gate.io | 0.2 | 234 | 2013 | EUR, USD, GBP | CSSF, MiFID II | High: Multi-Sig |
| 9 | KuCoin | 0.1 | 944 | 2017 | USD, AED, ARS | VFSC, DCE | Medium: Past Hacks |
| 10 | Crypto.com | 0.4 | 414 | 2016 | USD, EUR | FCA, MAS | High: 2FA, Compliance |
Taiwan-Based Virtual Currency Exchange Rankings
There are few local exchanges in Taiwan, and some have ceased operations. Below are the top 5 exchanges currently operating in Taiwan:
| Exchange | Founded | Fee (%) | Coins | Fiat Support | Compliance | Notes |
|---|---|---|---|---|---|---|
| MAX | 2018 | 0.05/0.15 | 29 | TWD | AML, TVCA | Highest market share in Taiwan |
| BitoPro | 2018 | 0.1/0.2 | 21 | TWD | AML, TVCA | Stable services |
| XREX | 2018 | 0.2 | 30 | TWD, USD | AML, MSB | Focus on cross-border payments |
| HOYA BIT | 2021 | 0.2-1.2 | 10 | TWD | AML, TVCA | Beginner-friendly |
| Bitgin | 2020 | 0.2%-0.5% | 3 | TWD | AML, TVCA | Targets institutional users |
*Risk Warning: ACE Exchange collapsed in 2025 due to legal issues. Always verify exchange reliability.
How to Choose a Virtual Currency Exchange?
Here are the 6 key criteria to evaluate an exchange:
| Criteria | Importance | Purpose |
|---|---|---|
| Legality | High | Protects capital |
| Security | High | Protects capital |
| Liquidity | Medium-High | Improves trading efficiency |
| Fees | Medium | Reduces costs |
| Coin Support | Medium | Ensures access |
| User Experience | Low-Medium | Enhances usability |
Recommended Exchanges for Different Needs
1. Binance
- Best for: Spot trading, high liquidity.
- Pros: Low fees, extensive coin support.
- Cons: No TWD support.
2. Mitrade
- Best for: Crypto CFDs (contracts for difference).
- Pros: Regulated, TWD-friendly.
- Cons: No physical coin ownership.
3. OKX
- Best for: Advanced traders, Web3 integrations.
4. Bybit
- Best for: Derivatives trading.
5. MAX
- Best for: Beginners in Taiwan.
Risk Mitigation Strategies
- Diversify funds across multiple exchanges.
- Avoid scams by verifying promotions.
- Secure accounts with 2FA and cold wallets.
Conclusion
Choosing the right exchange is critical for security and profitability. Always prioritize legality, security, and liquidity. For large holdings, use hardware wallets instead of keeping funds on exchanges.
Disclaimer: This content is for informational purposes only. Always conduct independent research before investing.
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