Best Cryptocurrency Exchanges & Trading Platforms of 2024
The Best Cryptocurrency Exchanges In 2024
The most popular platforms for buying and selling cryptocurrencies are cryptocurrency exchanges. Due to the large number of possible options, it can be difficult for a user to decide which crypto exchange to choose. In addition, there may be significant differences: verification requirements, the number of supported currencies, trading conditions (fees, limits), available tools for trading and passive income, etc.
So here is a list of the best crypto exchanges according to the editors of tgdratings.com:
- Best cryptocurrency exchange: Binance;
- Best crypto exchange for beginners: OKX;
- Best P2P exchange: Kucoin;
- Crypto exchange with the best mobile app: Gate;
- The most secure cryptocurrency exchange: Crypto.com;
- The best exchange for trading altcoins: MEXC;
- Crypto exchange with the lowest fees: Bybit;
- Best exchange for Bitcoin trading: WhiteBit;
- Best cryptocurrency exchange for English speakers: Binance;
- Best DEX Exchange: Uniswap.
TOP 10 crypto exchanges in 2024
The TOP 10 cryptocurrency exchanges include the best platforms that provide clients with reliable funds protection, high trading volumes and a large number of trading pairs, low fees, the ability to trade on various markets (spot, derivatives, p2p, etc.), and various investment tools.
1. Binance
Address: http://www.binance.com
Analytical services like Coingecko and Coinmarketcap define Binance as the largest crypto exchange in the world in terms of daily trading volume. In addition to the cryptocurrency trading platform, the Binance ecosystem includes native BNB token, BUSD stablecoin, Trust Wallet cryptocurrency wallet, Binance Card service, NFT platform and much more.
- Foundation year: 2017;
- Founder: Changpeng Zhao;
- Reserves: confirmed;
- Available trading instruments: spot, margin, derivatives markets, P2P platform.
| Fees types | Fees rates |
|---|---|
| Basic fees on spot (maker/taker) | 0.1% / 0.1%; |
| Basic fees for option trading (maker/taker) | 0.02% / 0.02%; |
| Basic fees. USDⓈ-M futures (maker/taker) | 0.02% / 0.04%; |
| Basic fees. COIN-M futures (maker/taker) | 0.01% / 0.05%; |
| Minimаl withdrawal amount | Depends on the coin. For BTC – 0.001 BTC. For USDT – 2 USDT. |
2. OKX
Address: http://www.okx.com
OKX (ex-OKEX) is an exchange that regularly pops up in the TOP 10 cryptocurrency platforms in terms of trading volumes. Its main advantages: 300+ digital assets for trading, own cryptocurrency wallet, access to the spot, margin (trading leverage up to x10) and derivatives markets, DeFi applications earning service.
- Foundation year: 2017;
- Founder: Star Xu. CEO: Jay Hao;
- Reserves: confirmed;
- Available trading instruments: spot, margin, derivatives markets, P2P platform.
| Fees types | Fees rates |
|---|---|
| Basic fees on spot (maker/taker) | 0.08% / 0.1%; 0% / 0.07% in pairs with USDC; |
| Basic fees for option trading (maker/taker) | 0.02% / 0.03%; |
| Basic fees for futures (maker/taker) | 0.02% / 0.05%; |
| Minimаl withdrawal amount | Depends on the coin. For BTC – 0.002 BTC. For USDT – 2 USDT. |
3. Bybit
Address: https://www.bybit.com/
Bybit is also a platform from TOP 10 of the best crypto exchanges. The main advantages of the exchange: focus on derivatives trading (USDT, USDC contracts, futures, options), copy trading, low fees and bonuses for users.
- Foundation year: 2018;
- Founder: Ben Zhou;
- Reserves: confirmed;
- Available trading instruments: spot, margin and derivatives markets, P2P platform.
| Fees types | Fees rates |
|---|---|
| Basic fees on spot (maker/taker) | 0.1% / 0.1%; |
| Basic fees for futures (maker/taker) | 0.01% / 0.06%; |
| Basic fees for option trading (maker/taker) | 0.03% / 0.03%; |
| Minimаl withdrawal amount | Depends on the coin. For BTC – 0.002 BTC. |
4. Gate
Address: https://www.gate.io/
Gate is one of exchanges with a huge number of cryptocurrencies traded (more than 1000 coins). The platform actively develops an automated trading service and offers unique trading tools (for example, various types of options, ETFs and structured products).
- Foundation year: 2013;
- Founder: Lee Han;
- Reserves: confirmed;
- Available trading instruments: spot, margin, futures markets, P2P service.
| Fees types | Fees rates |
|---|---|
| Basic fees on spot (maker/taker) | 0.2% / 0.2%; |
| Basic fees for futures (maker/taker) | 0.015% / 0.05%; |
| Minimаl withdrawal amount | Depends on the coin. For BTC – 0.002 BTC. |
5. Crypto.com
Address: https://crypto.com/
Crypto.com is considered one of the most secure cryptocurrency exchanges in the world: it has 6 certificates confirming its safety. The platform also features one of the lowest fees for spot trading – 0.075% for all types of users. In addition, the exchange issues metal cards with various bonuses and limits (depending on the user’s level).
- Year of foundation: 2016;
- Founders: Bobby Bao, Gary Ohr, Chris Marszalek, Rafael Melo;
- Reserves: confirmed;
- Available trading instruments: spot, margin, futures markets.
| Fees types | Fees rates |
|---|---|
| Basic fees on spot (maker/taker) | 0.075% / 0.075%; |
| Basic fees for futures (maker/taker) | 0.017% / 0.034%; |
| Minimаl withdrawal amount | Depends on the coin. For BTC – 0.001 BTC. |
6. MEXC
Address: https://www.mexc.com/
MEXC is a crypto exchange with support for 1000+ cryptocurrencies. The platform actively develops futures and margin trading services (leverages on MEXC reach x200), as well as specific trading instruments (for example, ETFs with leverage and ETF indices).
- Foundation year: 2018;
- Founder: Ratan Chadha;
- Reserves: not confirmed;
- Available trading instruments: spot, margin, futures markets, P2P service.
| Fees types | Fees rates |
|---|---|
| Basic fees on spot (maker/taker) | 0.0% / 0.2%; |
| Basic fees for futures (maker/taker) | 0.0% / 0.06%; |
| Minimаl withdrawal amount | Depends on the coin. For BTC – 0.002 BTC. |
7. WhiteBit
Address: https://whitebit.com/
WhiteBit is one of the most popular cryptocurrency exchanges in Eastern Europe. The exchange has a modest functionality: basic features of the spot, margin and futures market are available. The site is considered a safe platform and is included in the TOP-3 of the safest cryptocurrency exchanges in the world (according to Hacken research). In addition to the trading platform, its own WBT cryptocurrency and DEX platform.
- Foundation year: 2018;
- Founder: Vladimir Nosov;
- Reserves: not confirmed;
- Available trading instruments: spot, margin, futures markets, P2P service.
| Fees types | Fees rates |
|---|---|
| Basic fees on spot (maker/taker) | 0.1% / 0.1%; |
| Basic fees for futures (maker/taker) | 0.1% / 0.1%; |
| Minimаl withdrawal amount | Depends on the coin. For BTC – 0.001 BTC. |
8. Huobi
Address: https://www.huobi.com/
Huobi is a TOP-10 exchange in terms of trading volumes per day, specializing in derivatives trading. A rather modest list of additional services and tools is offset by the possibility to trade a vast variety of futures and options, including the exchange’s own development – ETP (a tool similar to classic ETFs, but for futures). Huobi Token (HT) native token holders are eligible for commission discounts.
- Foundation year: 2013;
- Founder: Leon Lee;
- Reserves: confirmed;
- Available trading instruments: spot, margin, futures and options markets, P2P service.
| Fees types | Fees rates |
|---|---|
| Basic fees on spot (maker/taker) | 0.2% / 0.2%; |
| Basic fees for option trading (maker/taker) | 0.002% / 0.005% (BTC); 0.0005% / 0.00125% (ETH); |
| Basic fees. USDⓈ-M futures (maker/taker) | 0.02% / 0.05%; |
| Basic fees. COIN-M futures (maker/taker) | 0.02% / 0.05%; |
| Minimаl withdrawal amount | Depends on the coin. For BTC – 0.002 BTC. |
9. Bitget
Address: https://www.bitget.com/
Bitget is a major Singapore based crypto exchange. It offers a developed derivatives service, focusing on automated trading (the exchange provides a specialized section with guidance and tools for developing strategies) and copy trading.
- Foundation year: 2018;
- Founders: Not public. As of 2022, Gracie Chen is the Executive Director;
- Reserves: confirmed;
- Available trading instruments: spot, margin, futures markets, P2P service;
| Fees types | Fees rates |
|---|---|
| Basic fees on spot (maker/taker) | 0.1% / 0.1%; |
| Basic fees for futures (maker/taker) | 0.02% / 0.06%; |
| Minimаl withdrawal amount | Depends on the coin. For BTC – 0.001 BTC. |
10. Kucoin
Address: https://www.kucoin.com/
Kucoin is an exchange that supports trading of many rare altcoins. In addition to a large number of available coins, the platform supports margin, spot and futures trading, trading robots, additional income services (such as staking and mining in the cloud and pools). The Kucoin ecosystem also includes the internal KCS token and its own cryptocurrency wallet.
- Foundation year: 2017;
- Founders: Michael Gun and Eric Don. The current CEO is Johnny Lu;
- Reserves: confirmed;
- Available trading instruments: spot, margin, futures markets, P2P service.
| Fees types | Fees rates |
|---|---|
| Basic fees on spot (maker/taker) | 0.1% / 0.1%; |
| Basic fees for futures (maker/taker) | 0.02% / 0.06%; |
| Minimаl withdrawal amount | Depends on the coin. For BTC – 0.001 BTC. |
Types of cryptocurrency exchanges
All existing crypto exchanges are divided into several types: centralized (CEX), decentralized (DEX) and hybrid (HEX). Let’s analyze each type in more detail.
Centralized
Centralized crypto exchanges (or CEX) are platforms similar in organization to traditional exchanges. Among their features it is important to note: a user-friendly interface, regulator licenses, the speed of orders execution, high liquidity and trading volumes. The most important feature of CEX is that users trust their funds to the exchange, which organizes the conditions for trading, and the platform itself belongs to a third party company.
Decentralized
Decentralized exchanges (or DEX) differ from CEX in a certain way: users’ funds remain with the users, and the DEX platform acts only as an intermediary between the buyer and the seller.
Most DEX exchanges are characterized by low trading volume (compared to CEX exchanges), low liquidity, slow transaction speeds, and primitive user interfaces. The advantages include: anonymity, security of users’ funds, less interest from hackers.
Sometimes DEX platforms are launched by centralized exchanges as separate platforms. Such services include, for example, Binance DEX (it is often referred to as hybrid exchanges).
Hybrid
Hybrid cryptocurrency exchanges (or HEX) may include the benefits of CEX and DEX. They are characterized by high transaction speed and security at the level of centralized exchanges. Hybrid exchanges are not yet very common – this is a new generation of trading services. Best hybrid currently working exchange is Nash.io.
How to choose a cryptocurrency exchange
To choose a cryptocurrency exchange, you should study a large amount of information. The main indicators that you should pay special attention to are: trading volume, regulation and security, reputation, fees and limits, ways to buy cryptocurrencies, quantity of trading pairs, available markets, tools for additional income and the quality of work of support service.
Trading volume
Trading volume shows how much cryptocurrency was sold and bought on the exchange for a certain period of time. Information on trading volume is collected by the exchange itself and is often displayed on the main page of the official website.
A more convenient way to study trading volume is through aggregator sites, for example, coingecko.com. Such services provide the most complete and up-to-date information on trading volumes for each exchange.
Security and regulation
There are security certificates that exchanges receive from various regulatory organizations or audit companies. Some exchangers hire white hat hackers to look for vulnerabilities.
In addition to certificates, the degree of security of the exchange can also be indicated by the absence of hacks for a long time, the methods used to protect users’ accounts, places of storing users’ assets, and the confirmed availability of insurance funds.
Reputation
You can learn about the current reputation of any platform from the news of specialized cryptocurrency portals, for example, coindesk.com. Reputation-affecting news includes: measures taken by the platform to solve user problems, the company’s behavior in the market, the quality of work of managers and technical support specialists, and much more.
Fees and limits
Both of these indicators directly affect the income of users. Exchanges set different fees for trading in different types of markets, for example, there are often different fees for spot and futures trading.
The platform may charge other fees: for depositing and withdrawing funds, for maintaining margin, etc.
Limits can be set by exchanges for withdrawal and deposit of funds, daily trading volume, etc. Most often, restrictions are removed after the user passes the KYC verification.
All information about fees, as a rule, is located on a specialized page of the exchange (it usually calls Fees). Limits are displayed on the same page or in the Limits section.
Payment methods
The main methods of payment for the purchase of cryptocurrency include:
- Purchase with credit/debit cards;
- Payment from an exchange deposit (you will first need to replenish the deposit with cryptocurrency or fiat);
- Payment using payment systems such as Paypal;
- Direct bank transfers.
Number of trading pairs
Each crypto exchange itself determines the number of trading pairs that it is ready to support. The most popular pairs can be found on any cryptocurrency exchange. If the coin is new, then at first it will be more difficult to find it on exchanges. The MEXC and Gate exchanges are considered the most loyal to new cryptocurrencies.
Markets and trading instruments
The main markets on cryptocurrency exchanges are: spot, margin (almost always featured separately), futures and P2P (essentially spot, but with its own rules). As additional markets, exchanges can support: options, NFTs, ETFs, CBSS and other instruments, which require sufficiently deep knowledge and understanding of the principles of their structure to work with.
Different types of futures that are supported by exchanges can be attributed to a separate type of instruments. You can find deliverable, settlement, direct, inverse, denominated in crypto and fiat and other types of futures.
You should choose markets and tools depending on your own needs. Beginners are advised to trade on the spot market not using leverage or on demo accounts.
Products
Products category summarize various tools for additional income. For example, staking and mining are available on almost every cryptocurrency exchange. Landing, minting, liquidity mining / in pools / in the cloud, NFT services and other tools are less common.
When studying these tools, it is important to read and / or watch educational materials of the exchange, as well as the conditions for working with them. It often happens that a familiar tool is hidden under a strange name, but it can work according to specific rules on a particular exchange (this is especially true for structured products, like Gate.io provides).
Support
Bad support service can make life very difficult for an exchange user. You can check the work of support by contacting them with any question and evaluating the quality and speed of response.
For more information about support see public users’ reviews on services like trustpilot.com. High-quality support works with negative reviews and promptly processes all customer requests.
Mobile App
For users trading from a smartphone or a tablet, it will be important to know how the exchange’s mobile application works. Today, each platform from our rating has an application supporting Android and iOS.
It is important to evaluate the availability of all services of the desktop version of the exchange in a mobile application and the usability of the interface.
Anonymity and privacy on cryptocurrency exchanges
Anonymity and privacy will depend on the type of exchange one uses. It is believed that the level of anonymity on CEX exchanges is the lowest due to the need to go through KYC identification procedures (sometimes also ALM identification procedures against money laundering). However, the privacy of user’s data is ensured by the legal obligations of such exchanges (especially if they have trading licenses).
As in any centralized system, KYC and ALM procedures deanonymize the user. On the other hand, it gives an opportunity to provide a higher level of protection for users’ data.
When using DEX exchanges, the entire responsibility for the correctness of the transaction lies with the user: such exchanges, as a rule, do not have a support service. It is for this reason that they are recommended for advanced users.
FAQ
- The number of the currencies supported;
- Reliability of the exchange (you may dig up some info out of reviews and tops);
- Trading fees;
- Withdrawal and top up limits, fees and other options;
- Availability of trading instruments you need;
- Need of KYC.
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