Best Cryptocurrency Exchange
Based on In-Depth Reviews
- 200+Hours of research
- 40+Sources used
- 27Companies vetted
- 5Research Criteria
- 4Top
Picks
- Cryptocurrency exchanges are not regulated or guaranteed.
- Most exchanges limit or prohibit trading until your identity is verified.
- Exchange fees depend on the frequency and size of transactions.
- Transaction records are on the blockchain, making it almost impossible to counterfeit or double-spend.
How we analyzed the best Cryptocurrency Exchange
Our Top Picks: Cryptocurrency Exchange Reviews
A Word of Caution
Cryptocurrencies are decentralized, unregulated, and not guaranteed by any governmental entities. If you invest in digital currencies, make sure you understand that there are no real guarantees regarding your invested funds. That doesn’t mean, however, that crypto exchange services are beyond the law. Some state and federal rules still apply to services handling US dollars. Many states, like New York, have already put forth a first set of rules and regulations that relate to cryptocurrency trading. Still, the cryptocurrency world still more closely resembles the wild west than the heavily regulated realms of securities trading and traditional banking.
With this in mind, we decided to only give our recommendations to US-based services. This is in no way meant to imply that investing with US-based exchanges is risk-free. Nor it is to say that there are no legitimate cryptocurrency exchanges in other countries. But after careful consideration, our research team decided that we couldn’t recommend services registered and operating beyond US jurisdiction. Simply put, we believe that in case of any dispute or legal issue with the exchange, consumers are better off being under the protection of US law.
To give you an example, some exchanges are registered in one country, register their website in a second country, and operate from a third. Many of them operate without specifying their postal or physical address. Determining the applicable jurisdiction for both the trade operations and web communications of a cryptocurrency exchange based outside the US would pose difficult problems for international law experts. That’s simply too much to ask of consumers who are looking to make a modest investment of time and resources in cryptocoins.
If this is going to be your first experience with cryptocurrencies, we suggest that you read our glossary (below) beforehand to get an idea of some of the terms frequently used in crypto trading. Cryptocoins are definitely a new and exciting investment possibility that could ultimately prove to be immensely profitable. But as we said, there are no guarantees. Our word of caution is in no way meant to frighten you, just to give you a clear idea of the foreseeable risks you run in the unregulated cryptoworld.
This site does not include all companies or all available offers. Companies listed below are listed in alphabetical order.
Bittrex review
Best Exchange for Cryptocoin Variety
Out of the cryptocurrency exchanges that met our criteria, Bittrex is by far the service with the largest variety of individual cryptocurrencies and pairs available. Bittrex supports four different market paired options, a US dollar-paired fiat-to-crypto, a Bitcoin-paired crypto-to-crypto, and an Ethereum-paired crypto-to-crypto. Lastly, they offer a USDT Tether crypto-to-crypto, which is backed by US dollars. This means that each USDT token is backed by a matching dollar reserve.
Screenshot of https://bittrex.com/ 1/29/2020
US dollar fiat-to-crypto pairs are available to buy all of the most popular and sought-after cryptocurrencies: Bitcoin, Bitcoin SV, Tether, Ethereum, Bitcoin Cash, XRP, Litecoin, Cardano, Ethereum Classic, Hedera Hashgraph, Basic Attention Token, TrueUSD, ZCash, TRON, Paxos Standard, Horizen, Decred, EOS, DigiByte, Komodo, Siacoin, 0x Protocol, Stable USD, and Tezos. The only major limitation with Bittrex is that all their transactions have to be completed through wire transfer, which requires you to have funds readily available to initiate an exchange.
Market Pair Options
Bittrex has hundreds of available cryptocurrencies outside the most common and popular coins. Most are available as crypto-to-crypto paired currencies with Bitcoin, Ethereum and Tether. Bitcoin pairs are available with Bitcoin SV, Ethereum, Bitcoin Cash, Monero, XRP, Litecoin, Zcash, True USD, Ethtreum Classic, Dash, Cardano, Neo, Dogecoin, Basic Attention Token, Solve.Car, Zcoin, NEM, Lumen, RavenCoin, DigiByte, MonaCoin, Decred, TRON, EOS, LBRY Credits, Verge, Stratis, Horizen, Paxos Standard, Komodo, WAXP, Chainlink, Lisk, Enjin, Haven Protocol, Hedera Hashgraph, Spendcoin, 0x Protocol, and Waves, among many others.
Ethereum-paired currencies include Bitcoin SV, Bitcoin Cash, Cardano, Ethereum Classic, Dash, Zcash, Basic Attention Token, XRP, Monero, Hedera Hashgraph, Litecoin, EOS, Solve.Care, Siacoin, Neo, TRON, DigiByte, TrueUSD, Lumen, NEM, 0x Protocol, Decentraland, Augur, Waves, Golem, Stratis, WAXP, Tezos, DAI, and UnikoinGold. There are also Tether-paired USDT options available with most of those coins mentioned above. Bittrex keeps a complete list of coin pairs and prices which are constantly updated.
Reputation
Bittrex has now been around for seven years, making it one of the oldest US-based cryptocurrency exchanges. In the past, Bittrex was the target of several complaints regarding locked consumer accounts, but has since attended to this situation. A major concern voiced by users is that from time to time, Bittrex has abruptly ended trade with specific tokens without much notice. Bittrex confirms that they may decide to remove a token from the Bittrex Exchange without prior notice. Some of the reasons they give to delist a cryptocurrency are regulatory standards, compliance issues, poor coin implementation, or poor reception by the crypto community. A coin might be removed because its blockchain or some part of the technology employed to sustain the currency becomes compromised. In some cases the token gets abandoned and no longer serviced by its issuing team. Bittrex may also decide to terminate a coin based on limited trading volume or suspicious trading activity.
Whenever possible, Bittrex tries to give at least 14 days’ advice before delisting a cryptocoin. Usually the token will be flagged for deletion on the second Friday after issuing notification. After delisting, Bittrex will usually give users a 30-day window to remove their tokens. This, however, doesn’t represent a guarantee, since different situations may merit a shorter window and in some cases the coin might become entirely irretrievable for reasons outside the control of the exchange.
Coinbase review
Best Cryptocurrency Exchange for Small Investments
Coinbase is popular among amateur traders because of the simplicity of their trading app, their low trading fees, and the variety of payment options. Initial account setup can be completed online or through a mobile app, which is available on both Android and iOS. The verification process requires you to submit a photograph with valid ID, which can be uploaded either through a computer or with your mobile phone’s camera.
Linking a bank account and going through the entire verification process can take anywhere from three to 10 business days and must be done before you can start trading in full. While the verification process gets completed, you can start earning crypto tokens by watching informational videos on cryptocurrencies and trading.
Coinbase currently trades 18 of the most popular cryptocurrencies including Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, EOS, Stellar Lumens, Tezos, Chainlink, Ethereum Classic, Dash, USD Coin, Zcash, Basic Attention Token, Ox, Augur, Dai, and Orchid. They also offer real-time data on over 1000 cryptocurrencies.
Screenshot of https://www.coinbase.com/ 1/29/2020
Payment Options
Coinbase supports both fiat-to-crypto and crypto-to-crypto exchanges. Debit cards may be used, but only to buy coins--not to receive funds. US customers can buy, sell, deposit, or withdraw using a bank account (ACH). Regular transaction times will be four to five business days. In some cases, bank accounts can be paired instantly and securely by providing your online banking username and password. Additional steps and security protocols may be required depending on each bank's requirements. For larger trades, Coinbase recommends using wire transfer. This method can only be used to deposit and withdraw funds and will usually take from one to three business days.
Additionally, Coinbase offers USD Coin (USDC), a type of cryptocurrency known as a stablecoin. You can redeem one USDC for US $1.00. The price always remains the same and the coin is backed by actual US dollars held in a bank account. USD Coin is powered by Ethereum, which also makes it an Ethereum token. You may store it in an Ethereum-compatible wallet, like the Coinbase wallet, to effectuate global transactions directly from your crypto wallet without waiting for funds to be transferred.
Security
Coinbase stores all customer fiat currency in segregated, custodial bank accounts. For investors in the United States, the Coinbase USD Wallet is covered by FDIC insurance up to a maximum of $250,000. Coinbase is a licensed money transmitter in all states that require such a license. Per-state licensing disclaimers on limits and regulations, as well as the identities of the regulatory authorities that issue such licenses, are available on their website. Coinbase stores 98% of customer funds offline, which adds a strong security measure against theft or loss.
Sensitive data is kept disconnected entirely from the internet, encrypted and copied into USB drives and paper backups. Drives and paper backups are distributed geographically as well and kept in safe deposit boxes and vaults around the world. Additionally, two-step verification is enforced on all accounts and a bug bounty program rewards independent white-hat hackers and security experts who notify Coinbase of vulnerabilities in its program architecture.
Gemini review
Best Cryptocurrency Exchange for Large Transactions and Businesses
Gemini is a great option for more experienced traders, as well as investors and parties managing larger investments or a higher volume of transactions. Gemini allows you to set up recurring buys and price alerts, including a ‘Buy the Cryptoverse’ option, with which you can trade on all the digital assets they manage. Transaction histories and downloadable account statements are available, as well as a withdrawal whitelist to restrict who has access to removing funds. Gemini offers 24/7 customer support through their web page, a dedicated phone line, and direct messaging on Twitter.
It’s important to note that Gemini is very selective about what digital assets they trade, managing only a few of the top digital coins: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Zcash. All fiat-to-crypto options are limited to US dollar pairings. Crypto-to-crypto trades can be done in pairs of Ethereum-Bitcoin, Litecoin-Bitcoin, Bitcoin Cash-Bitcoin, Zcash-Bitcoin, Litecoin-Ethereum, Bitcoin Cash-Ethereum, Litecoin-Bitcoin Cash, Zcash- Bitcoin, and Zcash-Litecoin.
Screenshot of https://gemini.com/ 1/29/2020
Trade Fees
Gemini explains in detail all of their fees and discounts schedules for all trade types and lists the web and mobile platforms currently supported. In general, fees vary depending on the transaction type and size, as well as the frequency of trades. Mobile and web fees have flat amounts that start at .99 cents for transactions under $10, and go up to $2.99 for transactions of less than $200. From $200 onward you are charged 1.49% of your total mobile order value, plus a ‘convenience fee’ which is calculated at a rate of 0.50% above the prevailing Gemini market price for a given trading pair exchange rate at the time of your transaction. The actual fee may be greater or lower than 0.50% due to price movement in the market between the time you are provided with the order price and the time your mobile order is finally filled, but Gemini assures its customers that this will not affect the final price they pay.
Asset Storage
Gemini provides detailed security specs on their cold and hot storage of crypto funds and gives detailed information on their security infrastructure, protocols, compliance, and certifications. Gemini assures its customers that most of their assets are kept offline in cold storage, with only a small portion kept available in their hot wallet. Gemini’s cold storage is explained in great detail, including the security standards of their hardware and the security protocols employed to keep access keys safe. Gemini’s hot wallet is hosted by Amazon Web Services (AWS), which has a solid track record of security.
Advanced cybersecurity tactics and data management protocols are employed to diminish the possibility of losing or compromising any individual information. For example, Gemini requires multiple employees to be present at the same time in their facilities in order to obtain access or remove assets from cold and hot wallets. Additionally, accounts are protected with two-factor authentication (2FA) and strong passwords policies are enforced for logging in to your account and for all withdrawals.
Gemini enforces a maximum number of unsuccessful account login attempts. This protects against brute force attacks by people who are trying to steal your funds. Additionally, Yubi keys and other hardware can also be set up for an additional layer of protection. Internal-only sections of their website have separate access controls and are not exposed to the public Internet. Multiple signatories are required to transfer cryptocurrency out of their cold storage. All account private keys are kept off site in geographically distributed access-controlled monitored facilities.
Additionally, Gemini is one of the few cryptocurrency exchanges licensed by the New York Trust Company. Gemini undergoes regular bank exams and is subject to cyber security regulations promulgated by the New York Department of Financial Services. Gemini assures customers that all their employees undergo criminal and credit background checks and are subject to ongoing background checks while employed.
Kraken review
Best Cryptocurrency Exchange for Different Transaction Types
Kraken currently offers trading to everyone from hobbyists to professional traders. Accounts are divided into starter, intermediate, and pro levels. Starter set-up can take less than an hour and the verification process is fully automated. Intermediate, pro, and corporate accounts can take from one to five business days to set up as they require linking bank accounts and submitting documents to be manually evaluated before you can start to trade larger volumes.
Kraken offers a variety of top selling coins for both fiat-to-crypto and crypto-to-crypto pairs. Out of all the services that passed our review criteria, Kraken has the largest variety of fiat-to-crypto pairs with foreign currencies. The exchange offers easily accessible and detailed information on all available fiat and crypto pairings. The variety of currency pairs facilitates transactions with international markets by allowing traders to do quick currency conversions. For example, both Bitcoin and Ethereum have fiat pairings with the euro, Canadian dollar, yen, pound and Swiss franc.
Additionally, Kraken offers one of the biggest selections of crypto-to-crypto pairs. Bitcoin and Ethereum pairs are available with some of the most sought after tokens such as Augur, Basic Attention Token, Cardano, Chainlink, Cosmos, EOS, Gnosis, ICON, Lisk, Watermelon, Siacoin, Tezos, and Waves. The number of fiat-to-crypto and crypto-to-crypto pairings gives traders vast flexibility and access to domestic and international cryptocurrency markets.
Screenshot of https://www.kraken.com/ 1/30/2020
High Liquidity
Kraken maintains healthy liquidity by encouraging a high trading volume environment that facilitates buying or selling assets promptly and as close to to the makers’ asking price as possible. Trade volume and a large client base enhance exchange liquidity. To this purpose, Kraken offers various funding options and low fees to incentivize makers to open trade positions. The exchange currently handles the largest euro-paired fiat-to-crypto volume in the world, with thousands of global clients trading every day.
Trading Options and Tools
Kraken offers Over-the-Counter (OTC) trading with private and personalized services for institutions and high-net worth individuals looking to trade large blocks of coin off-market. Additionally, Kraken is the only service that passed our review process that offers leveraged trading using margin pairs for Augur, Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Monero, Ripple and Tether. Per coin figures on margins and fees are available and kept up-to-date on the website.
Kraken displays up-to-the-second cryptocurrency indices powered by index provider CF Benchmarks. The indices are based on a price data aggregate of token values on several top exchanges to accurately display real-time market value. The prices are calculated every second to represent a consensus of the major cryptocurrency exchanges on the current value of digital assets. Index methodologies and policies are publicly available and are subject to independent oversight to ensure transparency and accountability.
More insight into our methodology
Available Currency
We are currently in the midst of the crypto gold rush. There are already thousands of different cryptocurrencies, with more being planned and developed as we speak. With such a vast amount of options, we favored only those cryptocurrency exchanges that have narrowed down trade options based on proven coin legitimacy and performance. No two cryptocurrency exchanges offer the same cryptocurrency portfolio, nor the same trading services, resources or support.
Supported Coin Pairs
All our recommended cryptocurrency exchanges employ their own vetting criteria to offer what they believe to be legitimate products. Some, like Gemini, even limit their offer to just a handful of the top traded and valued cryptocurrencies. We looked for the availability of various types of exchange, including fiat-to-crypto, crypto-to-crypto, and margin pair trading. All the recommended exchanges trade US fiat paired coins and the two largest-by-market-cap coins, Bitcoin and Ethereum.
Rates & Payments
Rates will greatly depend on the user’s monthly trade volume, the currency pair being traded, and the order being classified as taker or maker. For most transactions cryptocurrency services will charge either a flat rate with a maximum cap, or percentage fees based on the value of the exchange. Exchange rates move lower as the trading volume increases. At certain trade volumes, some fees are waived completely. However, most large rate discounts are reserved for large transactions. All the exchanges we examined have detailed breakdowns of charges and transaction time estimates, including wire transfer times to convert your cryptocurrency back to fiat through their favored clearing option.
For the most part, funding options are limited to credit cards, wire transfers, and automated confirmation transactions (ACT) and automated clearing houses (ACH). Services that can’t provide clear information regarding transaction time estimates, rates and available payment methods are disqualified from our review. Many cryptocurrency exchanges handle thousands of different coins and allow anonymous peer-to-peer trading, but the abundance of crypto coins and trade privacy can come at a price.
Security, Accountability & Reputation
We selected exchanges that prohibit trading, or at the very least enforce purchase caps, until your identity is fully confirmed. We examined digital security practices and secure data handling practices employed by each cryptocurrency exchange. In many cases, these include penetration tests and bug-hunt incentives for programmers and security experts who test the exchanges for flaws. Particular attention was placed on how personal data information and currency and data are stored.
We favored services employing two factor authorization (2FA) through authenticator programs or YubiKeys. All of the services recommended offer digital wallet options, keep a majority of their funds in cold wallets, and segregate fiat funds in different banks. The services we recommended back up trade data at different physical and digital locations, with sufficient data redundancy as to avoid any compromise of data that might result from problems at one location.
Although digital coins and investments are, for the most part, not yet regulated or guaranteed by any authority, companies still need to follow the applicable financial and trading laws. In the US, cryptocurrency exchanges are subject to state licensing and tax procedures set forth by the authorities of the state or territory in which they’re based. With this in mind we’ve only given our recommendation to companies that are registered and located within the United States.
This is not to say in any way that your investment on cryptocurrencies will be secured by a financial authority in the United States. But any legitimate controversy would still fall under US jurisdiction and not into the murky waters of international law. Many well-known services have headquarters or physical addresses in one country and registration on another, making it very tricky and costly to litigate legal claims.
All the cryptocurrency exchange services we recommended explicitly disclose that cryptocurrencies are a volatile investment and that coin prices can change at any given time without warning. Our recommended exchanges make no guarantees and don’t sell you the illusion of cryptocurrency being a get-rich-quick scheme. Services that make any such claims regarding your investment have been disqualified from our reviews. In the wild and largely unregulated world of cryptocurrencies, it’s especially important that exchanges operate with transparency and integrity.
User Experience
We looked at the exchange interfaces, cryptocurrency indexes, and overall app or web buying functions. Cryptocurrency values change rapidly. Having the ability to quickly track and trade may be essential to your investment strategy. We selected companies with well-designed computer- or app-based platforms that allow for secure and easy set up and verification. We favored cryptocurrency exchanges with intuitive and reliable trade tools for buying and selling your digital coins.
Lastly, it's important to mention that during our review process we came across a proposed cryptocurrency exchange that turned out to be a ponzi scheme. In the middle of our initial evaluation the website was brought down. A major news outlet mentioned in their articles that it could easily be the biggest fraud in history. The proposed exchange, which secured large investments with the promise of a coin that would rival the highest performing currencies, didn't even get to launch properly and is now facing legal issues. With this in mind, we made sure all our recommendations have a solid track record and as much experience as possible in the still-young world of cryptocurrency exchanges.
Helpful information about Cryptocurrency Exchanges
Cryptocurrencies are a fairly new development in currency exchange ecology. Close to a decade after their inception, no consensus has yet been reached on what the future might hold for these technologies. As researchers, we strive to provide you with the most accurate information we can obtain. With this in mind, we spoke to two leading cryptocurrency experts: On Yavin, founder and CEO of Cointelligence.com, and José Enrique González-Ávila, executive director of Blockchain Puerto Rico, to give us some clarity on how cryptocurrency exchanges work.
What determines the value of cryptocurrency?
Cryptocurrency value is determined by exchanges based on each coin's buying and selling performance. As On Yavin explains, “The value of any cryptocurrency is always the price at which it was last traded on cryptocurrency exchanges around the world.”
Each digital coin’s value is determined from its performance data on major exchanges. Performance is aggregated information on how coins are being bought and sold. Private indexes share and combine this data to illustrate the value of each coin across the web.
What causes the exchange rates to fluctuate so rapidly?
For Yavin, exchange rates fluctuate rapidly because of the immaturity of the market and because the currency programmers set certain rules about when and under what circumstances liquidity is added to the market. In addition, cryptocurrency speculation can have a significant effect on exchange rates. He explains that unlike stock markets, there are no governing bodies behind crypto, so value is derived from speculations of the entities trading it. “The crypto market is still very young, less than a decade old (as opposed to 200+ years of financial markets) and its infrastructure is still being built and tested.”
José González- Ávila points to how inflation and deflation are controlled. In traditional banking, regulators have some power to inflate or deflate currency prices by how much money they pump into or out of the banking system. However with crypto, “programmers determine the total supply of currency available. This gives them ‘central bank’ like powers to manipulate the exchange value of their asset in terms of another. Cryptocurrency is a different take on the currency supply problem. Instead of having people control the currency supply, code controls the currency supply.” He adds, “If you value people not being able to tamper with your currency supply, then you value cryptocurrency.”
Is it safe to invest on cryptocurrencies?
There is no simple answer to whether it’s safe to invest in cryptocurrencies. It depends largly on what “safe investing” means. Three important aspects for a safer investment strategy are employing secure tech, the legitimacy of the exchange and currency being traded, and what legal assurances you have when investing in cryptocurrency.
José González-Ávila warns that potential traders “...should be weary of investing right away. If you’re going to day-trade be prepared to watch your asset values like a hawk.” He goes on to explain that a good business plan or currency idea doesn’t necessarily mean a good investment opportunity. Legal mechanisms still need to be incorporated for you to sue someone that scams you across the world.”
On Yavin explains that “for the foreseeable future, most cryptocurrencies cannot be hacked in any way.” He goes on to explain that blockchain is secured by cryptography and that he believes that “As of this moment, there are no machines or entities on earth with enough computing power to crack these encryptions, nor are there expected to be within the next decade or two.”
Yavin points out that exchanges that promise returns or steady growth “are either ponzi schemes or flat-out scams. No legitimate company or individual will ever guarantee any kind of certain return on crypto investments due to the extreme volatility of the market…” .
Are cryptocurrencies backed by the FTC?
Cryptocurrencies are not backed by the FTC or any other governmental agency.
What’s the best cryptocurrency?
There’s no clear measure to determine which is the best cryptocurrency. Currently the three largest by market cap are Bitcoin, Ethereum, and Ripple.
What is the halvening?
As On Yavin explains, the Halvening is “the point in time in which the new Bitcoin issuance rate is halved, from 12.5 new Bitcoin on average every ten minutes down to 6.25.” Yavin explains that this process will continue to happen approximately every four years until Bitcoin reaches its proposed twenty one million token limit, at which time issuance will end. The next halving event is scheduled close to mid-May 2020. In short, the Bitcoin Halvening marks a point in which the coin’s inflation rate declines. José Gonzales-Ávila explains that “...crypto assets are programmed to inflate or deflate the currency supply. (...) ‘The Halvening’ is the name reddit has given to the latest iteration of bitcoin’s code manipulating its inflation rate.”
Glossary of Terms
Blockchain
Blockchain refers to an encrypted list of transaction records known as blocks. Each block contains a cryptographic hash from the previous block, along with a timestamp, and transaction data that serves as a ledger in which to record transactions between two parties. Data in the new block is cryptographically linked to the previous block and depends on it, making the blockchain resistant to alterations.
Mining
Mining refers to the process of validating cryptocurrency exchange transactions. Each transaction needs to be verified and recorded into the blockchain ledger. Miners add processing power to the exchange network by using their own computers to make the needed calculations. As a reward, they are given coins which they can then exchange or turn into fiat.
Fiat
Fiat coin, or simply fiat, is any legal tender issued by a central bank or government. Its value is based on exchange agreements and not on commodities. The US dollar, the euro, and most major currencies in the world are fiat.
Cryptocurrency
Cryptocurrencies are digital assets built on blockchain technology which are used as exchange tokens. Blockchain technology is used as a ledger into which to record and secure transactions. At the moment all cryptocurrencies are decentralized and do not respond to an issuing central bank.
Fiat-to-Crypto
Fiat-to-crypto refers to any exchange pair of a fiat currency with a cryptocurrency. The most common fiat pairs available in the US cryptocurrency market involve the US dollar, Canadian dollar, Euro, Great British pound, Japanese yen, and Swiss franc.
Crypto-to-Crypto
Crypto-to-crypto refers to any exchange pair of two cryptocurrencies. Most cryptocurrencies are usually paired to higher-volume coins like Bitcoin, Ethereum or Tether.
Pairs
Pairs represent the exchange rate between any two currencies. Pairs can be fiat-to-fiat (for example, the exchange value of the dollar versus the yen), fiat-to-crypto (exchange value of a dollar or euro for a single Bitcoin), or crypto-to-crypto (for example the exchange rate between Bitcoin and any other cryptocoin). Each pair represents the exchange value between those two currencies.
Liquidity
Liquidity refers to the ability to buy or sell a particular asset. A currency with good liquidity can be traded easily without affecting the value of the coin.
Maker
Maker is an exchange designation for orders that provide liquidity to the exchange. A trader pays the exchange a maker fee when the trade order is not matched immediately against an order already on the order book, which adds liquidity. Maker fees are usually lower than taker fees.
Taker
Taker is an exchange designation for orders that are matched immediately against an order already waiting to be fulfilled. Taker trades remove liquidity. Taker fees are usually higher than maker fees.
Hot Wallet
Hot wallets are cryptocurrency wallets connected to the internet. Funds on a hot wallet are readily available for trade and consequently are also more susceptible to hacking attacks.
Cold Wallet
Cold wallets are cryptocurrency wallets kept offline. You can have hardware wallets which are dedicated devices disconnected from a computer in which to keep your coins. Or you can also use a paper wallet, which is basically a print out of your exchange key and address. Clearly these are not susceptible to online attacks, but you risk theft or loss of the physical wallet.
Dead Coin
Dead Coin, as Coinopsy explains is “A token or coin that has been abandoned, scammed, website dead, no nodes, wallet issues, no social updates, low volume or developers have walked away from the project.” A full list of these failed cryptocoins is available on their website.