Top 10 New Cryptocurrency Exchanges [2020 Updated]

There are a lot of cryptocurrency exchanges out there; literally hundreds of them. And new exchanges are popping up all the time. The big names among the exchanges (names like Binance, Coinbase Pro, Kraken, etc.) are all, of course, fine options. After all, you don’t get to be a leading cryptocurrency exchange out of the blue. But that doesn’t mean the new players aren’t bringing anything to the table. Some of the newer exchanges also offer fine services and are definitely worth taking into consideration. Read on for a brief review of the top 10 new cryptocurrency exchanges.

 

Why consider a new exchange?

All of the current major players started out small and became the large, trustworthy, secure platforms we know today because the implemented innovative new features, offered great customer support or competitive fees. But these same exchanges have been accused of becoming stagnant once they reached their current status. And it’s kind of easy to understand why. Once you have millions of registered users, innovation for the sake of innovation can become risky. And it’s hard to keep the same standard of customer support when your user base grows from a few hundred to a few hundred thousand active users.

On the other hand, new exchanges are today what the heavy hitters were some years back. They are all looking to get a fair share of the action. This means they have to offer advantages to their users, in the form of cutting-edge innovative features, lower fees, leverage trading, mobile apps, wider coin selection, stellar customer support or others.

So let’s take a look at the top 10 new crypto exchanges, listed in no particular order:

 

Best New Crypto Exchange Comparison Table

Exchange Type Fiat support Tokens listed Launched Rating
Coinuma Cryptocurrency No 43 Crypto assets available 2020 5.0
Decoin Cryptocurrency Yes BTC, ADA, BAT, BCH, DASH, EOS, ETC, ETH, LINK, LTC, NEO, QTUM, TRX, XLM, XRP, ZRX, USDT, BTT, DETP 2017 4.5
Prime XBT Cryptocurrency, Forex, Commodities, Stocks No BTC, ETH, LTC, XRP 2018 4.0
Phemex Cryptocurrency, Contracts No BTC, ETH, XRP, LINK, TRX 2019 4.0
Crypto.com Cryptocurrency Yes 55 Cryptocurrencies listed 2017 4.5
BTSE Contracts No None. Contracts only 2018 3.5
Stormgain Cryptocurrency Yes USDT, BTC, BCH, ETH, LTC, XRP 2019 4.5
EMX Contracts No None. Contracts only 2019 3.5
BTCMEX Contracts No None. Only one contract available for trading 2019 2.0
FTX Contracts No None. Contracts only. 2019 3.5

 

1. Coinuma

top 10 new cryptocurrency exchanges

Review

Pros Cons
  • User friendly interface
  • Large selection of assets available for trading (especially considering this is the newest exchange on this list)
  • Not regulated with simple KYC
  • Fees on par with other exchanges
  • No fiat currency deposits or withdrawals (yet),

Currently, Coinuma is only crypto-crypto. Eventually, their plan is to add fiat currency onboarding to the exchange which will really take the experience to the next level.

Currently users can trade 43 different assets (BTC,, LTC, DASH, BCH, USDT, ETH, BAT, Gnosis, LINK, Paxos Standard, OMG and others) and there are plans to include many more. With the recent addition of ETH to the platform, Coinuma will be able to offer a broad range of other tokens that are built on the ERC-20 platform.

The exchange fees are 0.1% for makers and 0.2% takers, which is more or less on par with average market average fees.

A huge benefit of using Coinuma is that it’s not regulated and KYC is very simple. This is ideal for those who are looking to keep a low profile and avoid government regulation. KYC is not necessary for users who are withdrawing up to 5,000 EUR per month.

 

2. Decoin

Review

Pros Cons
  • Profit-sharing program
  • Giveaways and promotions for users
  • Buying crypto with fiat currency allowed
  • Larger selection of tokens compared to other new exchanges
  • No fiat withdrawals
  • No practice account for novice traders

Decoin was founded in 2017 with the intention of combining a high-security platform with ease of use, even for novice traders. Decoin also seeks to innovate by offering incentives such as discounts, giveaways and a profit-sharing program centred on their own DTEP token. Decoin lists more tokens than many other new exchanges, with more cryptocurrencies being added regularly. At the time of writing, Decoin trades in Bitcoin (BTC), Cardano (ADA), Basic Attention Token (BAT), Bitcoin Cash (BCH), DASH, EOS, Ethereum Classic (ETC), Ether (ETH), Chainlink (LINK), Litecoin (LTC), NEO, QTUM, Tron (TRX), Stellar (XLM), Ripple (XRP), 0x (ZRX), USD Tether (USDT) and BitTorrent (BTT).

 

3. Prime XBT

Review

Pros Cons
  • Versatile platform: Cryptocurrency, Forex, Commodities and Stock Indices trading are all available
  • No crypto purchases with fiat currency
  • Only four cryptocurrencies available for trading

Headquartered in Seychelles and in St. Vincent and the Grenadines, Prime XBT launched in 2018. They not only offer leveraged trading in cryptocurrencies (Bitcoin, Ether, Litecoin and Ripple) but also Foreign Exchange currencies (with British Pounds, Euro, Swiss Francs and US, Australian and Canadian dollars), Commodities and Stock Indices.

 

4. Phemex

Review

Pros Cons
  • Versatile. Trading in both cryptocurrencies and contracts
  • Zero-fee trading for premium members
  • Trading simulator available
  • Welcome bonus
  • No fiat deposits or withdrawals
  • Very limited token selection

The founders of Phemex decided to launch their exchange because they felt that traditional, large crypto exchanges weren’t evolving as fast as their customer base was increasing. Phemex went live in November 2019 intending to become a fast, trustworthy trading platform for cryptocurrencies and derivatives, with excellent customer support. Phemex offers both basic and premium memberships, with no trading fees for the latter. They offer both spot trading and contracts trading, offer simulated trading so you can better learn the ropes and you can get a Welcome Bonus of up to 80 USD so you can start trading without risking your money. If there is one downside, it’s that their token selection is still low at the time: Bitcoin (BTC), Ether (ETH), Ripple (XRP), Chainlink (LINK) and Tron (TRX).

 

5. FTX

Review

Pros Cons
  • Ample selection of contracts available for trading.
  • No fiat currency support
  • No crypto token trading. Only contracts

FTX was launched in 2019 by a group of experienced cryptocurrency traders. Their goal is to offer a service “by traders, for traders”. FTX isn’t actually a cryptocurrency trading platform, but rather a cryptocurrency derivatives trading platform. In other words, you don’t trade the tokens themselves, but rather contracts based on those tokens. This allows FTX to offer a wide range of trading products like volatility contracts, perpetual futures and others. You can even trade on a contract based on the results of the 2020 US presidential election. If you’re looking for a simple platform for trading crypto tokens, then FTX might not be for you. But veteran traders will surely appreciate all the options available.

 

6. Crypto.com

Review

Pros Cons
  • Fiat currency support
  • Over 50 cryptocurrencies available for trading
  • Crypto-backed debit card allows spending crypto tokens easily
  • Founders were previously involved in another exchange that crashed.

Launched in 2017, crypto.com certainly has one of the most attractive names among cryptocurrency exchanges. Crypto.com doesn’t only offer exchange services, but also ways to buy, save and spend their crypto tokens. They provide cryptocurrency-based Visa debit cards and crypto savings services.

 

7. BTSE

Review

Pros Cons
  • Six assets available for trading
  • Spot and futures markets trading available for contracts
  • No crypto tokens trading. Contracts only
  • Not easy for novice traders

BTSE is another cryptocurrency derivatives trading platform, meaning that it mostly trades in cryptocurrency contracts, instead of crypto tokens themselves. Based in Dubai and launched in 2018, they list six assets and offer both spot and futures markets. This is another option aimed more at veteran traders.

 

8. Stormgain

Review

Pros Cons
  • Fiat deposits available
  • Videos, tutorials and practice accounts available so novice traders can learn the ropes
  • No fiat withdrawals available
  • Limited selection of tokens

Stormgain is another exchange aimed mainly at novice traders, offering services for helping users learn the ropes in cryptocurrency trading. You can find video tutorials on how to buy and trade crypto tokens and they even provide users with a practice account so they can learn by doing, but without risking their real money. They don’t have the largest selection of tokens (only USD Tether, Bitcoin, Bitcoin Cash, Ether, Litecoin and Ripple), but they are a fine entry point into the crypto world.

 

9. EMX

Review

Pros Cons
  • No deposit or withdrawal fees
  • New features constantly being added
  • Not easy to use for novice traders
  • Only Bitcoin deposits allowed
  • No crypto token trading. Contracts only
  • Only swap contracts trading

EMX was formerly known as Evermarkets and was launched in 2019. Like some other entries on this list, EMX is a cryptocurrency derivatives trading platform. Because of its recent launch date and the fact that it’s being built from scratch, there aren’t many features on the platform yet. Deposits are in Bitcoin only and only swap contracts trading is possible. Although users have to pay trading fees (the exchange does have to make money, after all), there are no deposit or withdrawal fees. Even though EMX doesn’t offer too many features at the moment, this platform is surely one to watch in 2020.

 

10. BTCMEX

Review

Pros Cons
  • No deposit or withdrawal fees. Mining fees apply.
  • 24/7 live multilingual support
  • BTC Perpetual Contract is the only option available for trading.

With headquarters in Hong Kong, BTCMEX is another cryptocurrency derivatives trading platform. BTCMEX offers high security, but trading options are limited. The BTC Perpetual contract is the only trading option available.

 

In Conclusion…

Cryptocurrency trading is evolving very quickly. Until recently, crypto trading was limited to the tokens themselves. But when crypto tokens started being used as bases for contracts, derivatives trading was born and is now a multi-trillion-dollar business worldwide. For new exchanges, it’s hard to compete with the big names in the token exchange world, so they have to offer cutting-edge features or try to offer novice traders an easy way into crypto. Another alternative is to try and tap into the emerging derivatives trading business, which the traditional exchanges aren’t dominating yet. This shows in the fact that many entries in this list are derivatives trading platforms, either exclusively or alongside token trading.  All of these exchanges are fine options, but Coinuma just edges out the competition because of their good selection of tokens, ease of use and allowing traders to keep a low profile due to not being regulated and their simple KYC requirements. If you’re a complete novice to crypto trading, Stormgain is also worth checking out. Their tutorials and videos can be a great entry into the world of crypto trading.

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