When investing or trading bitcoin and cryptocurrencies, it can sure be really handy if the exchange you’re using has a lot of coins and tokens listed, so you wouldn’t need to use multiple separate platforms.
The answer
As of today — based on data from both CoinMarketCap and CoinGecko, the exchange with the most coins/tokens and trading pairs listed is Hotbit — with somewhere between 1585-1939 coins and tokens listed.
Despite the huge number of coins listed though, Hotbit has really low liquidity compared to some of the decently known exchanges — hence buy and sell offers by their users can end up with bad pricing (almost like you’re paying high exchange fees).
Should I use Hotbit?
While we’re not against using Hotbit, we will always recommend cryptocurrency exchange platforms that are most reputable, rather than the exchanges with most coins listed.
What you should be looking for in an exchange
- Security – the exchange should be up and running for a good number of years without any hacks and exploits on the exchange’s back-end.
- Reputation – the exchange should almost always make decisions that will cater more towards their users, rather than optimizing for their shareholders or company profits in general.
- Transparency – the company’s CEO and/or spokesperson should be totally transparent whenever the exchange experiences sudden exchange downtime and other issues.
- Decent fees – yes, you shouldn’t always be looking for the lowest fees. As long as the fees are reasonable enough and not overkill, it should be fine as the exchange can also use the revenue from the exchange fees to improve the exchange and potentially make it more secure
- Liquidity – the exchange’s order book should be thick enough to be decently liquid, as for their users to get the most for their money when buying and selling coins/tokens.
Which exchange should I use?
Based on the previous criteria, we always recommend the usage of Binance, FTX, and KuCoin, because these exchanges have passed most if not all of the criteria listed.
