People new to cryptocurrency often hear about the "Big Three exchanges" — so which three are they? How do they differ? Which one should you choose? Let's break it down. If you want to start with the largest exchange, you can register on Binance to try it out, and download the Binance APP to trade anytime, anywhere.
Which Are the Big Three?
The three most commonly used crypto exchanges among Chinese-speaking users are:
- Binance
- OKX
- HTX (formerly Huobi)
These three platforms have been growing since their early days and have accumulated large user bases, making them the most mainstream choices in the market today.
Binance
Strengths
- The largest exchange by global trading volume
- Most listed coins, with new tokens added quickly
- Rich product lineup: spot, futures, earn, NFT, Launchpad, and more
- Deep liquidity with minimal slippage on large trades
- Strong security track record with the SAFU protection fund
Weaknesses
- The interface can feel complex for beginners
- Customer support response times can sometimes be slow
OKX
Strengths
- Great futures trading experience
- Powerful Web3 wallet features
- Clean, simple interface design
- Excellent Chinese language support
Weaknesses
- Some smaller coin liquidity is not as deep as Binance
- Fewer earn product varieties
HTX (Huobi)
Strengths
- Well-established exchange with a long history
- Active Chinese-speaking community
- Beginner-friendly
Weaknesses
- Market share has declined in recent years
- Brand has undergone some changes
How to Choose?
For most users, Binance is the recommended first choice. The reasons are straightforward:
- Largest trading volume means the best liquidity — trades won't get stuck due to lack of counterparties
- Most comprehensive coin listings means you can find virtually any coin you want to trade
- Strong security is crucial for storing assets
That said, many experienced traders have accounts on multiple platforms and choose based on specific needs. For example, some use Binance for spot trading and OKX for futures.
Key Factors When Choosing an Exchange
- Security: Has the platform been hacked? Does it have a protection fund?
- Liquidity: Is trading volume high? Can trades execute quickly?
- Fees: Are trading fees competitive?
- Experience: Is the APP user-friendly? Is customer support responsive?
Summary
Each of the Big Three has its own strengths, but in terms of overall capability, Binance is currently the strongest choice. Beginners are advised to start with one platform and become familiar with it before considering whether to try others.