With current laws governing cryptocurrency trade in the United States, many exchanges are limited for those investing as a US citizen; however, those outside of the US have many more options, and this article narrow down the best crypto exchanges for traders outside of the U.S, including Binance, Bybit, FTX, Primexbt, and Phemex. Every cryptocurrency exchange has their own pros and cons so choose wisely on where you want to trade your crypto funds.
Binance
Pros
● Over 365 cryptocurrencies for trade globally
● Binance offers a relatively secure, versatile way to invest in and trade cryptocurrencies.
● Very high volume
● Low fees
● Wide selection of trading options and order types
Cons
● Not accessible to U.S users
● The platform is complex and may be confusing
● No built in digital wallet available
● Binance has run into regulatory trouble in several countries
Bybit
Pros
● Easy-to-use terminal
● High volume
● 100+ cryptocurrency trading pairs
● Low fees
● High leverage
● KYC not required
● Hedging
Cons
● Limited number of trading pairs
● ByBit is unregulated
Get started with a Bybit account here!
FTX
Pros
● KYC process is easy and helps increase trading limits
● Specializes in derivatives trading
● Guarantees liquidity
● 300+ cryptocurrency trading pairs
● Low fees
● High volume
Cons
● Leveraged tokens on FTX are risky
● FTX is relatively new to the crypto space
Interested in FTX? Click here to start and account.
Prime XBT
Pros
● No KYC
● Low fees
● Margin trading in traditional assets and cryptocurrency
● Offers up to 100x leverage
● Trading platform that both new and experienced traders can use
Cons
● Low volume
● Only 21 cryptocurrency trading pairs
● Not available in 14 countries including Canada and US
● Self-regulated and does not offer fiat currency deposits and withdrawals
● Provides only CFD trading and not spot trading
Join Prime XBT by clicking here
Phemex
Pros
● 100x leverage trading
● No KYC needed
● Low fees
● 40 cryptocurrencies trading pairs
● A user can create sub accounts and manage the sub account system
● Many advanced options for trades
Cons
● US Citizens not accepted
● Low liquidity compared to other exchanges
● Low volume
Create your Phemex account by clicking here
Many traders have accounts with several exchanges, and if you plan do so, I highly recommend using a smart trading platform where you can connect all your exchanges together via API and use smart trading functions all in one platform. Check out our article on the best smart trading platforms.
