How to Choose a Crypto Exchange: 4 Things That Matter More Than Reviews

Most newcomers pick a crypto exchange the same way they'd pick a coffee shop — a friend's tip, or an ad in their feed. But unlike a coffee shop, an exchange holds your money, so a few things are worth checking before the site's design or the size of the signup bonus.

• 24-hour trading volume — low volume means a thin order book, so the price you actually get can drift noticeably from the one on screen.
• Exchange type — a CEX holds your funds for you; a DEX or P2P platform leaves custody (and responsibility) with you.
• License and jurisdiction — this determines where you can complain and what protection you can realistically expect if something goes wrong.
• Track record — exchanges that survived the 2018 and 2022 crashes have proven they can handle panic, not just a bull market.

Checking each of these by hand, across exchange websites, takes an evening. That's what we built the Exchanges section for: all 16 platforms in one table, filterable by type, license, founding year, and volume — sort and compare in a couple of minutes instead. Kraken, for instance, has been running since 2011 — longer than any other exchange in our ranking, which by itself means it's weathered a couple of full market cycles.

One more thing worth checking: how an exchange verifies its users (KYC) and under what rules (AML). That's not just paperwork — it's part of the same protection. An exchange that takes these checks seriously is objectively harder to use for laundering stolen funds, which makes it safer for everyday users too. We covered this in more depth in a separate piece.

Nothing here should be taken as financial advice — just information to consider.