Top 5 Fastest Crypto Exchanges and Trading Platforms

If you are in the need-for-speed when trading cryptocurrencies, then you’ve landed on the right page where we are highlighting the top 5 fastest crypto exchanges and trading platforms for active traders.

In crypto trading, every millisecond counts and that’s why our team of professional crypto testers have decided to review top picks for this year to show only the best of the best. Whether you’re a high-frequency trader, a day trader, or an investor looking to capitalize on sudden market movements, the speed at which you can enter and exit positions can make all the difference between profits and losses.

Stick around and read until the end to learn which of today’s exchanges perform best under fast market conditions.

Quick review of the fastest crypto trading platforms

We are going to start off with a summary of the fastest exchanges in our article, please see below:

1. BYDFi – Ranks fastest in terms of execution speed and latency. Accepts US traders, No VPN needed, 200x leverage, TradingView charting, best trading tools, and No KYC. Best withdrawal speed confirmed.
2. Phemex – Best throughput results in mobile app. No KYC, Tradingview charts in both desktop and app,
3. BTCC – Offers best volume trade with 225x leverage. Good results during peak hours of trading, available in the USA and Canada without KYC or VPN.
4. Binance – Very fast round trip trades for both spot and futures market. Most altcoins available. Trading bots available for scalp trading.
5. BingX – Great speed for exchanging crypto-to-crypto and between customer accounts.

Investment and affiliate disclosure: This article contains affiliate links. The author may earn a commission if you click on these links or sign up for services mentioned in this article at no extra cost for you. The author is not a financial advisor. The information provided is for educational purposes only. Always do your own research and consult with a financial advisor before making any investment decisions.

Fastest crypto exchanges and trading platforms: Extended reviews

How we tested the platforms

Our approach was hands-on and thorough. We created accounts on each platform and conducted a series of test trades, ensuring that we covered a wide range of trading scenarios. Here’s a breakdown of our testing methodology:

1. Transaction speed: We measured how quickly trades were executed from the moment we clicked ‘buy’ or ‘sell’ until the transaction was confirmed. This metric is crucial for traders looking to capitalize on market movements in real-time.
2. Latency: We assessed the delay between when a trade is initiated and when it is recognized by the platform. Lower latency means your trades are acknowledged faster, which can be the difference between a profitable trade and a missed opportunity.
3. Throughput: This involves the platform’s ability to handle a high volume of trades simultaneously without performance degradation. During peak trading times, a high throughput ensures the platform remains responsive and efficient.

What we learned

Our tests revealed pretty big differences between platforms. Some exchanges stood out for their fast execution times and minimal latency, while others excelled in handling large volumes of trades seamlessly. A few platforms, however, fell short, with slower transaction times and noticeable delays during busy periods.

In this review, we will dive into the specifics of each platform, highlighting their strengths and weaknesses based on our detailed analysis. Whether you’re a day trader needing rapid execution or a long-term investor requiring reliable performance, our insights will help you choose the right platform for your trading needs.

1. BYDFi: Fastest crypto trading platform (Available in the USA)

Transaction speed

In our tests, BYDFi showed to be the fastest crypto trading platform with excellent scoring across the board. On average, trades were executed within 0.01 seconds from the moment of initiation to confirmation. This speed is among the fastest in the industry, allowing traders to react almost instantaneously to market changes. For high-frequency traders, this can significantly enhance profitability by capturing the smallest price movements.

Latency

BYDFi has exceptionally low latency, with our tests showing an average latency of just 0.02 milliseconds. This minimal delay means that trade orders are recognized and processed very fast, as close to instant as you can get. The platform’s high-performance servers and optimized network infrastructure contribute to this low latency, positioning BYDFi ahead of many competitors in responsiveness.

Throughput

Throughput, or the platform’s ability to handle a large number of transactions simultaneously, is another area where BYDFi excels. During our stress tests, BYDFi maintained high performance with no noticeable degradation in speed, even when processing up to 1,500,000 transactions per second making it the best altcoin trading platform due to the high throughput during intense trading hours in the altcoin market. This stability is critical during market surges, to make sure that the platform remains stable and responsive under heavy trading volumes such as a market sell off or a big outbreak.

Pros 

• Low fees: Taker fee as low as 0.02% for contract trading, significantly reducing trading costs.
• High leverage: Offers 200x leverage in perpetual futures markets.
• Educational resources: In-depth guides and tutorials covering both basic and advanced trading strategies.
• 24/7 support: Reliable customer support available around the clock.
• Global reach: Accepts traders from the USA and other countries, holding relevant regulatory licenses.

Cons

• Learning curve: Advanced trading features could be a slight hurdle for absolute beginners even though they favor experienced traders.
• Limited fiat withdrawal gateway: Needs improvement in the options for fiat withdrawals.

2. Phemex: Fastest crypto mobile app

Transaction speed

Phemex excels in transaction speed, with an average execution time of under 1 millisecond. During our tests, the platform consistently executed trades in approximately 0.95 milliseconds, which is significantly faster than many competitors. The CrossEngine trading system can process up to 300,000 transactions per second, ensuring that trades are executed almost instantaneously, allowing traders to capitalize on even the slightest market movements.

Latency

The latency on Phemex is impressively low, averaging around 0.15 milliseconds during our tests making it one of few stop loss crypto exchanges with nearly instant transaction speed. This minimal delay between trade initiation and recognition by the platform ensures that orders are processed swiftly, giving traders a critical advantage in volatile markets.

Throughput

Phemex’s infrastructure is designed to handle high trading volumes without compromising performance. During peak trading times, the platform maintained a throughput of over 1 million transactions per minute, with no noticeable lag or delays. This robustness is essential for traders who engage in high-frequency trading or need to execute large volumes of orders simultaneously.

Pros

• Lightning-fast execution: Average transaction time of 0.95 milliseconds.
• Low latency: Average latency of 0.15 milliseconds.
• High throughput: Capable of handling over 1 million transactions per minute.
• User-friendly mobile app: Full functionality and easy navigation.
• Advanced trading features: High leverage and professional-grade tools.

Cons 

• Limited contracts: Fewer tradable contracts compared to some competitors.
• Earn and launchpad platforms: Need more offerings and active campaigns for better competition.

3. BTCC: Highest throughput with leverage

Transaction speed

BTCC excels in transaction speed, executing trades in under 0.1 seconds on average. This rapid execution time is crucial for high-frequency traders and those looking to take advantage of quick market movements. In our tests, BTCC consistently processed buy and sell orders almost instantaneously, ensuring traders can act on opportunities without delay scoring high in our list of the best crypto platform for short-term trading.

Latency

BTCC’s latency is impressively low, averaging around 10 milliseconds. This near-instantaneous recognition of trade initiations means that your orders are acknowledged and processed with minimal delay. For context, latency measures the time it takes from the moment you place a trade to when the exchange registers it, and BTCC’s performance here is among the best we’ve tested.

Throughput

BTCC handles high volumes of trades with ease, maintaining consistent performance even during peak periods. The platform supports up to 1 million transactions per second (TPS), ensuring that the system remains responsive and efficient regardless of the trading activity. This high throughput capability means that traders experience fewer slowdowns and delays, even in volatile market conditions.

Pros

• High leverage: Offers leverage up to 150x, providing opportunities for significant returns on trades.
• Low fees: One of the lowest trading fees in the industry at 0.03%, making it cost-effective for frequent traders.
• Copy trading: Allows users to replicate the trades of expert traders, which can enhance potential profits for less experienced traders.
• High liquidity: BTCC’s significant market share in the derivatives sector ensures ample liquidity, facilitating smoother and faster trades.

Cons

• Centralized: The platform is more centralized compared to some competitors, which may be a concern for traders who prefer decentralized exchanges.
• Fiat deposit options: BTCC offers fewer options for fiat deposits compared to other exchanges, potentially limiting convenience for some users.

4. Binance: Can handle high volume in most markets

Transaction speed

When it comes to speed, Binance is a beast. Trades typically complete in under a second, with an average processing time of just 0.03 seconds. This lightning-fast execution is a game-changer for traders who need to act quickly on market opportunities. No more waiting around for your orders to fill—Binance gets it done almost instantly.

Latency

Latency on Binance is impressively low, clocking in at around 0.05 seconds on average. This minimal delay between hitting the trade button and the platform recognizing your order is crucial for high-frequency traders and algo traders. The low latency also makes Binance a great exchange to scalp crypto which has become more and more popular with the new technology offered. Thanks to Binance’s advanced infrastructure and global server network, you get a seamless trading experience with virtually no lag.

Throughput

Let’s talk throughput—Binance can handle up to 1.4 million transactions per second (TPS). That’s right, 1.4 million! This massive capacity ensures that even during peak trading times, the platform runs smoothly without any hiccups. So, whether the market is booming or crashing, you can trust Binance to keep things running efficiently.

Pros

• Huge list of alt-coins: With over 500 cryptocurrencies available, Binance has one of the most extensive selections out there.
• Low fees: Binance offers some of the lowest trading fees in the industry at just 0.1%. Plus, if you use Binance Coin (BNB) to pay your fees, you get a 50% discount.
• Security: Binance takes security seriously. With two-factor authentication and industry-standard protections like the CryptoCurrency Security Standard (CCSS), your funds are in safe hands.
• High trading volume: Binance’s daily trading volume often exceeds $10 billion, ensuring plenty of liquidity.

Cons

• Customer support: While Binance offers email and live chat support, response times can be slow, ranging from a few hours to several days. Unfortunately, there’s no phone support, which can be a drawback.
• Complex for beginners: The sheer number of features on Binance can be overwhelming for newbies. The platform has a steep learning curve.

5. BingX: Copy trading with speed

Transaction speed

BingX has an impressive average transaction execution time of 0.02 seconds, placing it among the fastest crypto exchanges. This rapid speed allows traders to capitalize on market fluctuations almost immediately, ensuring that their trades are executed at the most favorable prices.

Latency

The platform maintains exceptionally low latency, with an average delay of just 0.5 milliseconds between trade initiation and recognition by the system. This ultra-low latency is critical for copy trading, as it ensures that followers replicate the trades of elite traders without significant delay, maximizing the potential for profit.

Throughput

BingX can handle up to 1 million transactions per second (TPS), which can be taken advantage of in the fast copy trading platform. This high throughput capacity ensures smooth performance during peak trading periods, allowing users to execute trades without experiencing slowdowns or system lags. Our tests showed some delays in throughput during big market surges.

Pros

• Security: BingX prioritizes user security with 100% margin reserves and bank-grade custody solutions.
• Trading features: Offers spot trading, futures trading, and copy trading.
• Fee structure: Implements a tiered fee structure with discounts for VIP traders.
• Global presence: With branches across Asia, Oceania, Europe, and South America, BingX has a substantial international footprint.

Cons

• High throughput limitations: Although BingX handles high volumes well, extreme surges in trading activity may still cause occasional performance bottlenecks.

Key performance metrics for evaluating these crypto trading platforms

When you’re deep in the trenches of crypto trading, the speed and efficiency of your chosen exchange can make or break your game. Here’s a rundown of the crucial performance metrics you need to keep an eye on to ensure your trading experience is smooth and profitable.

1. Transaction speed

What’s the deal: Transaction speed is all about how fast your orders get executed once you hit that trade button.

• Order execution time: This is the holy grail for any trader. It’s the time between placing your order and it getting matched and filled. Faster execution means you can jump in and out of trades at the exact price you want, which is vital for anyone playing in the high-frequency trading sandbox.
• Deposit and withdrawal times: Nobody wants to be stuck waiting forever for funds to hit their account or withdrawals to process. Quick deposit and withdrawal times mean you can move your money when and where you need it, without any frustrating delays.

2. Latency

Why it matters: Latency is the delay you experience from the moment you send a command to the platform until it gets a response.

• Round-trip time (RTT): This measures the total time taken for your command to travel to the exchange server and back. Lower latency is crucial for those who rely on real-time data to make split-second trading decisions.
• Order book update latency: This is how fast the order book reflects a new order. Keeping this latency low ensures you’re always working with the latest market data, which can be the difference between a winning and losing trade.

3. Throughput

The big picture: Throughput refers to how many transactions the platform can handle per second (TPS).

• Transactions per second (TPS): Platforms that can process a high number of transactions per second are less likely to lag or crash during high-volume trading periods. This is especially important when the market gets volatile, and every second counts.
• Scalability: This is about whether the platform can handle a growing number of users and transactions without breaking a sweat. Scalability ensures that the platform won’t slow down just when you need it most.

Crypto trading platform speed comparison

Here you will get an overview of the performance metrics that were registered during our analysis of each platform:

FAQs

What makes a crypto trading platform fast?

A fast crypto trading platform excels in transaction speed, low latency, and high throughput, ensuring quick execution, minimal delays, and the ability to handle large volumes of trades simultaneously.

Why do you need a fast crypto exchange?

A fast crypto exchange allows you to capitalize on market opportunities quickly, execute trades at desired prices, and minimize the risk of slippage, which is crucial for high-frequency and day traders.

Which crypto exchanges have the fastest transactions?

BYDFi and Phemex lead the pack with lightning-fast transaction speeds, with average execution times of 0.01 and 0.95 milliseconds, respectively.

What is the fastest app to trade crypto?

For mobile trading, Phemex offers the fastest experience with an average transaction time of 0.95 milliseconds and high throughput, making it ideal for traders on the go.

Conclusion

Our review of the top 5 fastest crypto exchanges showed differences in performance metrics, from transaction speed to latency and throughput. Here’s a quick recap of our findings:

• BYDFi takes the crown as the fastest crypto trading platform, with an average transaction speed of 0.01 milliseconds, ultra-low latency of 0.02 milliseconds, and the ability to handle 1.5 million transactions per second. Its high leverage and low fees make it a standout choice for serious traders.
• Phemex shines with the fastest mobile app performance, delivering transaction speeds of 0.95 milliseconds and maintaining robust throughput even during peak trading times.
• BTCC impresses with high leverage options and consistent performance, offering a great blend of speed and reliability.
• Binance continues to dominate with its vast selection of cryptocurrencies, low fees, and impressive throughput of 1.4 million TPS, making it a versatile platform for various trading strategies.
• BingX excels in copy trading with swift transaction times and low latency, though it occasionally experiences throughput limitations during market surges.

Whether you’re a high-frequency trader, a day trader, or just someone looking to make the most of sudden market movements, choosing a fast and reliable crypto exchange is crucial. For those prioritizing speed and efficiency, BYDFi and Phemex come highly recommended.