Cryptocurrency exchanges are trading platforms where various operations with digital assets can be conducted. Initially, they only allowed buying and selling cryptocurrencies. Over time, their functionality has expanded. Most platforms now support dozens of market operations. We researched all the most popular cryptocurrency exchanges to compile a top list for trading in 2024.
Earlier we wrote: Cryptocurrencies Worth Buying for Long-Term Investments in 2024
How to Choose the Best Cryptocurrency Exchanges for Beginners
Experienced crypto users usually have their favorite trading platforms and are not in a hurry to change them. However, beginners often find it challenging to choose the best and most convenient cryptocurrency exchanges for themselves. We recommend focusing on the following factors at the very beginning:
- Support for a large number of currencies, especially the major ones – BTC, ETH, XRP, LTC, SOL, etc.;
- A user-friendly interface that allows for easy navigation without wasting time learning what each button does;
- Availability of simple and clear instructions;
- Quality adaptation in a user-friendly language;
- Low fees for beginners who are still figuring out the functionalities and are not making much profit;
- The ability to deposit fiat funds and withdraw to bank cards.
For those who do not plan to make a profit from trading but want to buy and sell crypto occasionally, it is enough to consider the interface, fees, and limits, and, of course, ensure that the required cryptocurrencies are supported.
The Best Cryptocurrency Exchanges for Trading in 2024
We have already researched all the most popular cryptocurrency exchanges and analyzed all the factors. This allowed us to create a small list of platforms that will be convenient for both beginners and experienced traders.
Binance
When it comes to cryptocurrency exchanges, Binance is often the first name that comes to mind. It is one of the largest trading platforms in the world, with over a million traders. The exchange supports hundreds of digital currencies and dozens of fiat currencies. The interface is very user-friendly and adapted in more than forty languages. Additionally, there are truly useful educational materials available. Beginners are attracted not only by these features but also by low fees and a high level of security. However, verification will be required.
Coinbase
Coinbase is one of the oldest exchanges in the world, founded in the USA in 2012 when other cryptocurrency exchanges did not even exist. The platform has a daily turnover exceeding $550 million. It is one of the most reliable platforms for trading crypto. However, it’s worth noting that Coinbase operates strictly under American licensing, which means it does not support futures and margin trading. Verification is mandatory to ensure a high level of security.
ByBit
Bybit is one of the global leaders in trading volume, with over 3 million traders visiting it daily. Few cryptocurrency exchanges can boast a daily transaction volume exceeding $400 million. All popular types of trades are available here, with the lowest fees of up to 0.1%. Beginners will find a wealth of educational materials and a simple, intuitive interface. The platform offers nearly four hundred cryptocurrencies and supports almost twenty languages.
WhiteBIT
WhiteBIT is another trading platform that caters equally well to both beginners and experienced traders. While it has a limited selection of futures operations, spot and margin trading are well represented. WhiteBIT is suitable for those looking for cryptocurrency exchanges with the ability to withdraw funds to bank cards. It allows trading in over two hundred cryptocurrencies and fiat currencies. The platform is convenient and secure, but verification is required.
Crypto.com
Crypto.com is a smaller cryptocurrency exchange registered in Singapore. It significantly lags behind the leaders in terms of turnover, which is only $70 million. The fees on this exchange may also seem a bit high, depending on the operations, reaching up to 0.2%. Other drawbacks include a somewhat unclear interface, although the app is more user-friendly. However, a clear advantage of Crypto.com is its genuinely high level of security. Funds are stored in bank accounts and cold wallets, making them less susceptible to hacks and theft.
Kraken
Kraken is one of the first cryptocurrency exchanges in the world and one of the two oldest still in operation. It started in 2011 when Bitcoin was just beginning its successful journey in the world, and cryptocurrency exchanges were a novelty. Today, the platform supports over 185 digital assets and has a daily turnover of about $200 million. It is a long-established platform that guarantees honesty and security. However, the fees can reach up to 0.26%.
Top Cryptocurrency Exchanges in 2024
Do you want to learn even more about the best cryptocurrency exchanges and which ones to choose for trading in 2024? Check out the video:
Conclusions
All the cryptocurrency exchanges included in our review guarantee the security of your assets and are quite user-friendly. They are suitable for both experienced traders and beginners. Therefore, it can be confidently stated that these are among the best cryptocurrency exchanges in the world, fully deserving their places in the top.
Frequently Asked Questions About the Best Cryptocurrency Exchanges
Beginners should choose cryptocurrency exchanges with simple interfaces and a wealth of educational materials, such as Binance or ByBit.
Almost all cryptocurrency exchanges strive to offer low fees to attract users, with Binance, ByBit, and WhiteBIT standing out.
No, not all. Some platforms allow trading without verification or require it only for certain operations.
