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The 5 Oldest Crypto Exchanges In The World

Publisher

February 8, 2024
Oldest Crypto Exchanges In The World

When crypto was officially brought into the financial markets, it opened the doors for exchanges to be born and thrive, helping traders and investors quickly understand the need to be engaged in trading, staking, mining, and security of assets. The continuous prosperity of cryptocurrencies has also come with growing uncertainty about the security of these assets. For this reason, exchanges have always looked to assure users of the continual security of their assets both while stored on the platform, and also while trades are being taken.

 

Top 5 Oldest Crypto Exchanges Reviewed

There are certain crypto exchanges, however, who have continued to excel in keeping the promise of protecting user funds as well as providing fair services on their platform. In this guide, we have compiled five of the oldest crypto exchanges that are still standing today. We will review their features, fee prices, and most of all their security records to help you see the most secure exchanges still standing today, as well as those who have not met the security standard.

Here are the five oldest crypto exchanges in the world that are still around today:

  1. BTCC (2011)
  2. Kraken (2011)
  3. Bitstamp (2011)
  4. Coinbase (2012)
  5. Bitfinex (2012)

 

1. BTCC

BTCC is a cryptocurrency exchange that was founded in June 2011 and is based in London, UK.

BTCC is one of the oldest and most reliable crypto exchanges in the world. It has been operating safely for over 12 years, which is a testament to its excellence.

When you talk about a secure and trustworthy exchange, you’re talking about BTCC. It continues to impress traders and users from around the world with its exceptional service.

The exchange has been licensed in different countries around the world, including the United States of America. The exchange currently has 1 million registered users worldwide, and a 24-hour trading volume of $8.82 billion. BTCC is well-known for its futures trading options, which provide traders with up to 225x leverage options in futures trade. The platform has a user-friendly interface, with a different trading interface for beginners and another for expert traders. Its futures trading options are particularly well-regarded, and the platform’s user-friendly interface makes it easy for traders of all levels to get started.

Unfortunately, BTCC does not support spot trading on the exchange. There are also very limited products available on the platform, and none for any form of passive earning.

BTCC has one of the best copy trading platforms in the exchange market, with a community of traders not just copying, but also learning and interacting, for beginners to learn from the techniques of advanced traders and apply them.

Fees on BTCC are taken at 0.045% taker and 0.025% maker, which is in line with market standards.

BTCC has been a leader by example in security, providing a safe trading environment these past 12 years. The exchange has yet to record a major breach in security and employs industry-leading technology to safeguard funds. It also provides 24/7 customer support, sadly there have been several complaints about the quality of their support.

 

Pros and Cons

👍 Pros👎 Cons
✅ Great security❌ No spot trading
✅ High leverage❌ Limited products
✅ User-friendly❌ Poor customer support
✅ Fully licensed platform

 

Visit BTCC!

 

2. Kraken

Kraken, a US-based crypto exchange, was founded in 2011 and has grown to be one of the top choices for buying and selling assets.

With over 10 million registered users in approximately 200 countries, Kraken is one of the biggest and most renowned digital currency marketplaces in the world.

The exchange boasts of being one of the earliest exchanges to provide spot trading. Kraken currently has a daily trading volume of $1 billion, and users can access more than 100 cryptocurrencies and 661 trading pairs on the platform.

The exchange offers Kraken Pro, where specialists can trade with up to 5x leverage, and an official trading platform for novices. Additionally, by staking their assets, traders can profit annually by earning up to 24% of their capital.

Also, Kraken offers users with fees as low as 0%. Although this is good, the traditional fees charged on the exchange are still on the high side. Fees on the spot market are at 0.16% maker and 0.26% taker, which is higher than the industry standard. For futures trading on Kraken, however, the fees are in line with the industry standard at 0.02%/0.05% maker/taker.

Through the platform’s rapid buy/sell services, users can purchase assets. Traders can also create price alerts and keep an eye on price movement across many platforms with Kraken’s crypto watch trading terminal.

Furthermore, Kraken offers its customers an almost unparalleled security system along with first-rate customer service. Because it is one of the only exchanges that has not experienced a significant cyberattack since its founding, investors can feel secure storing their money on the exchange. It also offers 24/7 top-notch customer support and fully caters to the needs of customers.

 

Pros and Cons

👍 Pros👎 Cons
✅ Excellent security❌ High spot fees
✅ High-level Euro trading volume❌ Long verification process
✅ Good for beginners and experts
✅ Staking is available

 

Visit Kraken!

 

3. Bitstamp

As one of the very first cryptocurrencies in the world, founded at the end of 2011, Bitstamp has earned the continuous trust and praise of users all over the world. The exchange is also commonly regarded as the most regulated crypto exchange in the world, with regulations in over 100 countries around the world, including the US, UK, Italy, France, Singapore, and many others.

Bitstamp demonstrates leadership in the crypto market, providing an easy user interface and industry-leading security since its inception. The exchange takes the security of user funds to a different level, providing 95% of its funds in an offline wallet.

Today, at the time of writing, Bitstamp has a daily trading volume of $216 million. There are currently 81 coins and 178 markets available for users to choose from, which is very low.

Unfortunately, Bitstamp only offers a traditional spot market for users to trade, making it unfit for futures traders. The exchange also has a limited amount of passive earning opportunities for users. The only passive income for users to engage in is its staking and lending platform.

Additionally, Bitstamp offers a good trading interface for both beginners and experts. The exchange provides a traditional interface for beginners to learn to trade, and also a Pro trading platform where experts have access to advanced order tools, indicators such as Bollinger bands, and oscillators.

For every trade carried out on Bitstamp, the fees charged are 0.3% maker and 0.4% taker, which are extremely high compared to the industry standard. For withdrawals, the fees charged depend on the network of the crypto asset. On Bitstamp, users can also make deposits and withdrawals via wire transfer, and instant crypto purchases with a debit card.

Furthermore, the exchange prides itself on its protection of user funds and industry-leading technology. Although there are reports of a security breach in 2015, it was never actually proven to be true, and the exchange has not mentioned anything about it since. They also provide 24/7 customer support, with email and direct call support for users to reach out and report issues.

 

Pros and Cons

👍 Pros👎 Cons
✅ Good interface❌ Limited cryptocurrencies available to trade
✅ Suitable for beginners and advanced traders❌ Limited products for passive income
✅ Great security❌ No futures trading is available
✅ Offers staking❌ No leverage is available for trades
✅ Instant buy available
✅ Fully regulated

 

Visit Bitstamp!

 

4. Coinbase

Coinbase ranks among the oldest exchanges in the world, being established in 2012.

Coinbase is a cryptocurrency exchange that allows users to buy, sell, and exchange cryptocurrency. It has over 108 million verified users in more than 100 countries.

The US-based crypto exchange currently trades a daily volume of $2 billion and provides 230+ cryptocurrencies with 391 markets for users to explore and trade. These crypto assets include popular cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, and Ripple. The platform also features a native NFT marketplace where anyone with an account can create, trade, or simply collect digital collectibles.

The exchange is one of the best for newbie traders to learn as it provides a custom trading interval that meets their level of expertise. There is also an advanced platform, Coinbase Pro, where experts have access to advanced tools and an advanced trading interface.

Coinbase offers passive earning opportunities on over 100 assets by earning annual interest on any eligible cryptocurrency or gathering crypto as rewards by engaging with content in the “Learn” section.

However, Coinbase’s trading fees are higher than the industry average, and trading on the spot and futures markets attract fees of 0% to 0.4% maker and 0.05% to 0.6% taker. Users have also frequently lamented due to the exchange’s lack of urgency in resolving customer complaints, even with critical issues. Coinbase holds your private keys, meaning it has full access to your crypto without your permission.

Furthermore, the exchange has maintained industry-standard security to ensure that funds are safely stored.

 

Pros and Cons

👍 Pros👎 Cons
✅ User-friendly interface❌ Poor customer support
✅ Great for beginners and advanced traders❌ High fees
✅ Wide range of crypto selection❌ Control of users' private keys
✅ Wide range of products for passive income
✅ Distinct trading interface for beginners and advanced traders

 

Visit Coinbase!

 

5. Bitfinex

Bitfinex is a cryptocurrency exchange platform that was founded in 2012. It offers advanced features such as margin trading, derivatives, and advanced order types. Bitfinex has a user-friendly interface with customizable features and offers more than 180 cryptocurrencies to trade. The exchange has a 24-hour trading volume of $147 million.

The taker fees for Bitfinex spot trading are relatively higher compared to its competitors, with a maker fee of 0.1% and a taker fee of 0.2%. For futures trading, the exchange takes a 0.02% and 0.65% maker and taker fee.

Bitfinex maintains a good security system with two-factor authentication, cold wallet storage, IP whitelist, withdrawal address whitelist, and anti-phishing code.

Bitfinex has had a few security breaches in the past. In 2016, Bitfinex suffered a security breach that led to the theft of 120,000 Bitcoin. The exchange halted all trading and digital token deposits and withdrawals. In 2022, the US Department of Justice seized $3.6 billion in Bitcoin that was stolen from Bitfinex in 2016. The proceeds were siphoned from users’ accounts into a single crypto wallet. Despite these security breaches, Bitfinex has taken measures to improve its security system.

Bitfinex is a well-established exchange that is easy to use and highly regulated. However, it has been associated with controversy in the past, and its user-friendliness can be a bit complex for beginners. It has a user-friendly interface with customizable features and relatively low trading fees. However, it has been associated with controversy in the past and may not be the best choice for beginners.

Furthermore, Bitfinex offers a 24/7 live chat for users to get info on whatever they need to know. They can also reach out to customer support via email to report complaints or issues.

 

Pros and Cons

👍 Pros👎 Cons
✅ Advanced tools❌ Previous security breaches make it a concern for investors
✅ Wide range of options for passive income❌ No provision for beginner traders
✅ User-friendly interface❌ High taker fees for spot
✅ 24/7 live chat
✅ Highly regulated

 

Visit Bitfinex!

 

Conclusion

We have reviewed the oldest cryptocurrency exchanges in the world and presented all of the necessary information that you need to make a selection for trading or investing in crypto assets. Some of the important factors that have been highlighted are the year they were founded, trading interface, fee structure, security, and products that each of these crypto exchanges offers to users.

 

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