In recent years, cryptocurrencies that can be invested, traded, or used to make online purchases have taken off on the global market. In fact, as time goes on, these currencies only continue to become more common, more valuable, and more universal.
Generally speaking, the most popular of these cyber currencies, known as Bitcoin, was invented in 2008 by an unknown person or people under the name Satoshi Nakamoto. Today, Bitcoin fluctuates between being worth $50,000 and $60,000, and that number is only growing year by year. Some estimates have Bitcoin valued at nearly $500,000 by 2030!
With that in mind, if you’re interested in investing in Bitcoin successfully and efficiently, you’ll need to go through a bitcoin exchange company.
Globally, there are several of these companies, which have grown dramatically in size and net worth in only the past few years. These companies allow customers to trade cryptocurrencies like Bitcoin for other assets, including conventional fiat money.
So who are the major Bitcoin exchange companies around the world? To answer that, we’ve assembled a list of the ten largest Bitcoin exchange companies in the world, based on their total number of users (members) in 2021.
Top 10 Largest Steel Bitcoin Exchange Companies Listed
-
Number of Users: 43 million
Net Worth: $99.6 billion
By far the largest Bitcoin exchange company in the world, Coinbase maintains roughly 43 million users across 100 countries. This company is based in San Francisco, making it especially easy to use for U.S. traders and investors.
In fact, Coinbase’s massive size can mainly be attributed to accessibility, as the site is easy for beginners to understand. Users can invest directly with USD, and fees are reasonable and straightforward. For example, common fees include a flat per-transaction fee and a spread of about 0.50%.
Overall, Coinbase is a highly successful Bitcoin exchange company, with an astonishing net worth of almost $100 billion and over $455 billion in facilitated trades. This year alone, Coinbase’s shares may increase from their current $280 to up to $500 per share.
-
eToro
Number of Users: 20 million
Net Worth: $800 million
Based in Europe and the Middle East, with major locations in the UK and Israel, eToro is one of the most simple and accessible Bitcoin exchange companies out there. Unlike other companies, eToro allows users to utilize free practice accounts where they can test out buying bitcoin without risking real funds.
Additionally, users can experiment with a CopyTrader system that will mimic other trades. Therefore, despite the company’s 0.75% spread fee for bitcoin purchases, it proves to be one of the best choices for investors who are new to Bitcoin.
Additionally, eToro has recently announced that it will become a public company through an SPAC merger, which will open it up to even more users.
-
Number of Users: 13.6 million
Net Worth: $2.8 billion
With a focus on security and transparency, Gemini continues to be a strong Bitcoin exchange company since its founding in 2014. In fact, the company began as a way to carefully facilitate the exchange of Bitcoin through a system of complex private keys and passwords. Truly, Gemini’s systems are an incredible safeguard against hacking.
While anyone can join Gemini, you’ll have to properly verify your ID and fund your account through an appropriate bank account. The company also charges various fees, including a convenience fee of 0.50% above the market rate and a flat transaction fee ranging from $0.99 to 1.49% for mobile app orders.
Interestingly, in May 2020, Gemini announced a partnership with Samsung. As a result of the partnership, Samsung smartphone users can now use their Samsung Blockchain Wallets to view balances and transfer cryptocurrencies on their Gemini account.
-
Binance
Number of Users: 13.5 million
Net Worth: $1.9 billion
Founded in 2017, Binance was originally a Chinese-based company. However, the company’s founder Changpeng Zhao was forced to relocate operations following China’s increasingly strict cryptocurrency regulations. Today, Binance is a prominent Bitcoin exchange company with users all over the world.
While Binance was held the largest market capitalization of any cryptocurrency company in 2018 at $1.3 billion, the company has since become smaller than some of its competitors. This can be attributed to the company’s complex apps and services, which can be somewhat unapproachable for beginners.
Binance is also not without its recent controversies. In 2020, various Forbes staff members released documents alleging that Changpeng Zhao was responsible for implementing a corporate structure system designed to intentionally deceive United States cryptocurrency regulators.
-
Robinhood
Number of Users: 13 million
Net Worth: $11.7 billion
Contrary to popular belief, GameStop investments aren’t the only form of currency exchange happening on Robinhood. In actuality, this company has a relatively user-friendly and cost-effective Bitcoin exchange service.
Unlike other companies, Robinhood doesn’t require a commission to buy or sell Bitcoin. Additionally, setting up an account with the company is also easy and free. Of course, the lack of cost comes with limitations on the features you’ll be able to use, but the service is still incredibly popular.
In fact, when Robinhood initially announced a waitlist for commission-free cryptocurrency trading in 2018, the company’s waitlist grew to more than 1,250,000 in only a day!
-
Number of Users: 10 million
Net Worth: Unknown
Founded in 2016, Crypto.com is a unique Bitcoin exchange company specializing in staking coins to earn interest and allowing users to use their cryptocurrency in the real world.
In the case of the former, users can lock coins for a period of time, and in exchange, they can earn interest on said coins. The latter is possible through Crypto.com’s Visa cards, which allow users to load cryptocurrency on the card in order to buy physical goods and services.
However, all of these unique features are not without fees, as Crypto.com charges a maker fee that can range from 0.036% to 0.10%, as well as a taker fee that can range from 0.090% to 0.16%.
-
Kraken
Number of Users: 6 million
Net Worth: $4 billion
Established in 2011, Kraken is one of the older cryptocurrency exchange companies on this list. However, despite its long life, Kraken has a reliable and secure history, as the company has never been hacked.
Some of Kraken’s main features include allowing users to exchange fiat currencies, as well as bi-weekly rewards for staking. On top of that, the company has exceptionally low fees, with a maximum transaction fee of only 0.26%.
Overall, one of the only significant downsides of Kraken is its lack of customer support, which can make navigating user features daunting for inexperienced crypto investors.
-
Coinmama
Number of Users: 2.7 million
Net Worth: Unknown
If you’re looking for a fast way to use Bitcoin, Coinmama might just be the cryptocurrency exchange company for you. In general, this Israeli company specializes in allowing its users to make a variety of instant Bitcoin purchases with high limits. Setting up an account is also quick and easy through Coinmama’s streamlined verification process.
The main issues with Coinmama’s instant purchasing capabilities are the complex fees that come with the service. For example, users are required to pay a 5% fee for instant delivery alone. With that in mind, Coinmama’s convenient instant purchasing and delivery system do come with downsides.
-
Number of Users: 250,000
Net Worth: $3 billion
Founded in New Jersey, BlockFi is a Bitcoin exchange company known for its exceptionally high user-earned interest rates. Unlike other services that barely break the 1.00% APY mark, BlockFi’s users can yield a staggering 8.6% APY annually on their cryptocurrencies. This APY rate also comes with the added benefit of no added fees for cryptocurrency trades.
However, BlockFi has noticeable fees in other areas. For instance, the company allows users to take out loans that have a significant 3% to 9.3% interest rate, as well as a required 2% origination fee.
-
Bitcoin IRA
Number of Users: 100,000
Net Worth: $150 million
As the name would suggest, Bitcoin IRA is a cryptocurrency-based tax-advantaged account. This unique company’s most noteworthy features include allowing users to transfer from an existing IRA to Bitcoin IRA, in addition to giving users access to 24/7 cryptocurrency trading.
While there are benefits to using Bitcoin IRA’s services, including an earned interest rate of up to 7%, there are also a few sizable fees. For example, there are platform fees of up to 12.50%, transaction fees of 1% for selling orders, and 5% for buying orders.
Find Crypto Company Jobs Near Me
Author
Jack Flynn is a writer for Zippia. In his professional career he’s written over 100 research papers, articles and blog posts. Some of his most popular published works include his writing about economic terms and research into job classifications. Jack received his BS from Hampshire College.
