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Here is a consolidated list of the best cryptocurrency exchanges with my comments:
Bybit | • Very popular with high volume. • Ideal for margin trading. • Read Bybit review | 9.8/10 |
Binance | • It offers a mobile app and the world’s largest exchange. • If you need to pick only one, this is the best and #1 in 2024. • It offers max number of crypto pairs and offers basic & advanced trading. • A lot of exciting features, including Margin trading, Exchange coin (BNB), and many more | 10/10 |
KuCoin | • Simple and easy to use • Many low-cap gems available | 9.5/10 |
OKX | • Popular Crypto exchange • Extensive range of pro trading options • Advanced trading platform | 9.4/10 |
Bitget | • Demo accounts available • Wide range of cryptocurrencies | 9.3/10 |
MEXC | • Fast listing of new crypto projects • Leveraged & Index ETFs | 9/10 |
Kraken | • Based out of the USA, and secure crypto exchange, existing for the last half a decade. | 8.8/10 |
GMX | • Decentralized Perpetual Exchange • Simple Swaps | 7/10 |
HTX | • One of the largest exchanges of the crypto market • High security and great customer support | 8/10 |
AscendEX | • Easy-to-use interface • Use in-house token ASD to lower fee | 8/10 |
Slowly and steadily, Bitcoin and altcoins are getting attention from more investors all around the world.
And why not? These cryptocurrencies are time and again proving themselves to be a safe haven against the government’s inflationary policies.
Not only this but now people have a variety of products to earn substantial passive income on their crypto assets. Moreover, some people make good money by pure speculation with short-term trading (i.e., buy low, sell high).
And for those who are just starting and need answers to some basic questions like:
- Where do I buy such cryptocurrencies?
- What are the best cryptocurrency exchanges?
- Which crypto exchange is secure and user-friendly?
But before we talk about the best exchanges out there, I need to tell you that it’s not too late to get invested in cryptocurrencies. At the time of this writing, the Cryptocurrency market is at a market cap of $1.18 Trillion.
Note: This list starts from easy-to-use exchanges and moves towards some of the advanced exchanges.
10 Best Cryptocurrency Exchanges
1. Bybit – #2 Top Crypto exchange
Bybit is a specialized spot and crypto derivatives market exchange. Established in March 2018, Bybit is one of the fastest growing cryptocurrency exchanges, with more than 3 million registered users.
Further, the exchange offers a margin on the Crypto Futures market upto 100x. In case you are looking for an exchange for spot and derivatives trading, then Bybit is the best bet.
The platform is adding quality and trending coins every other day, and it might become the fastest growing crypto exchange of 2023. It is one of the best crypto exchanges which is secure and easy to use. It has an interactive web application and a mobile application for Android and iOS users.
Here are other top features of ByBit –
- Crypto Lending feature
- Top of the line mobile app
- P2P Trading
- No KYC Withdrawal (1 BTC a day)
- Buy Crypto with Debit or Credit card
- Options Trading
For beginners, Bybit also has a feature of paper trading.
Read our full review on Bybit here.
2. Binance – #Best Overall
Binance is the world’s leading cryptocurrency exchange that concluded its ICO on 21st July 2017 and raised $ 15 Million. In addition to being a blazing fast exchange, The platform is designed for traders of all levels, i.e., from a beginner trader to an advanced trader.
The platform offers an inbuilt crypto wallet which is ideal for storing Bitcoin and other cryptocurrencies for a short time. In addition, Binance has an Earn feature to deposit your crypto assets such as Bitcoin or USDT, and earn interest on your holdings.
Since its ICO to date, it has grown tremendously. It has become the leading cryptocurrency exchange globally in trading volume and availability of pairs of a token. It now has over 370+ cryptocurrencies listed on it, which are further provided in over 1300 pairs. Additionally, coin listing is increasing with every passing month.
Binance being a centralized exchange has taken a unique take to expand its business and provides a decent discount for day traders if they use BNB coins. BNB is the native currency of this platform, saving money on buying/selling any coin.
Binance is a global crypto exchange that is ideal for everyone and has the highest liquidity. Users from the USA can signup for Binance.us. Use the table below to pick the ideal Binance exchange for your jurisdiction:
Binance Global 🌎 | Sign up here (10% trading fees off) | For everyone (Users from all countries) except the USA |
Binance USA 🇺🇸 | Sign up here (Get $15) | For the USA users |
Binance’s fee structure is also unique.
It has a 0.1% standard trading fee that is already relatively less than its peers. You can even reduce your fee further if you pay your trading fee in BNB according to the below-shown structure.
To get started with Binance, you need to register using phone number or email and then follow the steps. Binance is one of the few exchanges that offer mobile apps for iOS and Android, and also an app for Mac.
Read: Binance Review: Features, Fees in 2023 (Beginner’s Guide)
Being using it for a while, I find it too easy to trade cryptocurrency while on the move. However, you can watch this video to learn how to use its mobile app.
They also have aggressive plans like multi-lingual support, mobile apps for both iOS and Android users, the Binance lending program, and the Community Coin Per Month, etc for more adoption of their platform.
3. KuCoin – Leading Crypto Exchange
KuCoin is another easy and hassle-free cryptocurrency exchange. KuCoin offers many popular and unique coins such as CHR, $KCS, and many others. Just like Binance, they offer a fully functional mobile app for Android and iOS.
To get started with KuCoin, you can deposit any crypto of your choice, ex: BTC, and start trading. I have been using KuCoin for the past two years, and they have constantly been adding extra features.
You can use Kraken to deposit and withdraw funds to any bank account globally. In my experience of using Kraken, bank transfers are quick, and support is excellent.
Overall, Kraken is one secure and trustable exchange that you should check out.
4. OKX – Popular Crypto Exchange
Founded in 2017 and registered in Seychelles, OKX is a reputed and innovative crypto exchange that is available for all users around the globe. Due to regulations, certain jurisdictions like the USA, Singapore, North Korea, and Syria are not allowed on OKX. You can find a complete list on their website homepage.
Here are some of the notable features of OKX :
- Spot, Margin & Derivative Trading
- Copy trading
- Web 3.0 Integration (This is remarkable)
- NFT Marketplace
- Shark fin (Gain USDT in any market condition)
- Buy/Sell Crypto with all popular payment options
- Add or withdraw funds using a Bank account
- P2P Trading
- $OKB – Exchange Native token to lower fees & Participate in governance
Many more features of OKX make it one of the best Binance alternatives. If you are a novice or experienced trader, you will find many tools and features to help you maximize your returns.
5. Bitget – Exchange with growing volume
Founded in 2018 and headquartered in Singapore, Bitget is an exchange with huge potential. It offers all the bells and whistles you could expect from a global crypto exchange that targets investors and traders.
Here are notable features of Bitget –
- Spot and derivative exchange
- Signed “Messi” as the Brand ambassador (Yeah! It is a big deal)
- Crypto-only exchange. It does not offer Fiat on-ramp or off-ramp
- Ideal for Crypto traders
- Offers Copy trading (Supports spot market too)
- Attractive referral and affiliate program
6. MEXC Global – Low Cap Gem Exchange
MEXC Global (formerly known as MXC) was established in 2018 in Seychelles, East Africa. The exchange has listed 518 coins which are offered as 887 different pairs.
You can use MEXC Global for spot, margin, and derivatives trading. In addition to this MEXC Global provides several features such as ETF (Exchange Traded Funds) Trading, staking, DeFi Farming, etc.
The trading fee on MEXC Global is 0.2% of the transaction value. This fee can be discounted by holding the in-house token of MEXC Exchange i.e. MX Token.
The benefits of using MEXC Global Exchange are as follows:
- The platform has a very user-friendly interface
- The platform has an interactive mobile app that allows you to trade on the go
- You can earn passive income through staking and depositing assets in DeFi products
Please read our full review on MEXC Global Exchange here.
7. Kraken – USA Based Crypto Exchange
Kraken is one of the oldest crypto exchanges that has existed for over a decade now. Established in 2011, the exchange offers Bitcoin as well as a number of known altcoins. In total it offers 346 pairs of crypto tokens. Read more detailed review of Kraken.
The exchange has an interactive web version as well as mobile applications for Android and iOS users. The features of the platform can be fully explored by an advanced crypto user.
Features such as take profit orders, take profit limit orders, etc. are some of the unique features of the platform.
Kraken also offers derivatives products on which margin is available up to 50x. Further, it has options to earn passive income such as staking.
You can use Kraken to deposit and withdraw funds to any bank account globally. In my experience of using Kraken, bank transfers is quick, and support is excellent.
8. GMX – Decentralized Perpetual Exchange
GMX is the only crypto exchange in this list that is completely decentralized. In the last quarter of 2022, a well-known exchange called FTX imploded, which made many crypto traders and investors move to decentralized exchange.
GMX is one of those exchanges loved by traders, as it is fully decentralized and available on Arbitrum and Avalanche blockchain.
On GMX, you can trade top cryptocurrency up to 50X leverage. GMX may not be the best fit for beginner crypto traders and investors. Still, if you are an experienced Crypto netizen and looking for a decentralized solution, you will find GMX highly useful.
9. HTX
HTX is an international cryptocurrency exchange that originated in China but now has moved across the world to serve a maximum number of investors. It is based out of Singapore and has been operating in this space successfully for the last five years.
As we speak, it occupies the #2 spot on CoinMarketCap’s list of exchanges by volume and has 973 cryptocurrency pairs. Hence, you will never face liquidity problems on this exchange.
They also have a mobile app for Android and iOS for users who want to trade cryptos on the go.
Their registration process is also pretty simple, so go ahead and do the needful. Oh, and just so you know, the exchange fee is also pretty low. Have fun.
Do read HTX Exchange Review: Pros and cons
10. AscendEX
AscendEX (formerly known as BitMax) was established in 2018 in Singapore. Founders George Cao and Ariel Ling have substantial experience in investment banking and traditional stock markets.
The exchange provides the following services:
- Spot, Margin, and Futures Trading
- OTC (over-the-counter) Trading (for bulk purchases)
- Fiat to crypto purchase
- Staking (to earn passive income on your crypto assets)
- DeFi Yield Farming (to earn passive income on your crypto assets)
AscendEX has listed 186 tokens on the platform, which are offered as 299 pairs of tokens. The trading fee of the platform is 0.1% for large-cap tokens and 0.2 for altcoins.
The benefits of using AscendEX are as follows:
- Copy-trading feature for futures trading(you can copy trade settings of professional traders)
- Passive income earning options available (staking and DeFi Yield Farming)
- The exchange has a user-friendly interface
So that is it for my list of the most reliable cryptocurrency exchanges. Now, with such an information overload there is a need to summarise this information. Let us understand how to choose the best crypto exchange for ourselves.
What if a user needs some low-market-cap gems?
Using the above cryptocurrency exchanges will allow you to buy almost all of the cryptos you could ever want to buy.
However, there are a few more cryptocurrency exchanges that you should have an account with, as there are a few coins that are only available there. It’s a good idea to have an account on most of these, which will save time when you discover a winning coin.
So, here are some bonus exchanges I am sure you would love.
How to select the best cryptocurrency exchange for you?
Following are the crucial factors you should consider while choosing the best crypto exchange for yourself:
- The country you live in
Almost all exchanges have a list of supported countries. Residents outside these jurisdictions should not use these exchanges.
Further, you should also check whether that exchange supports your native fiat currency or not. If not, then you need to figure out a way to transfer your funds to this exchange.
- Security of funds
Security is the key factor for the sustenance of the whole crypto market. Before choosing an exchange for yourself, you should have an answer to these questions:
- Who keeps custody of my funds?
- Is there any security audit done on the exchange? What was the conclusion?
- Where are the funds of the exchange kept? Is the place secure enough?
- Does the exchange has any insurance in case of loss of funds due to a security breach?
Once you have answered the above questions, you will be able to judge the security of the said platform.
- Whether it is centralized or decentralized
Centralized exchanges need your personal details before they allow you to trade on their platform. Further, most of these exchanges keep custody of your funds.
This is not the case with a decentralized exchange.
- Ease of use
Some exchanges although very good in product offerings have a very complicated user interface. This leads to confusion in understanding the product or method of transactions.
Thus, you should choose an exchange that has an interactive web application and a compatible mobile application.
- Liquidity and Trading Volume
If you want to purchase a token, you need to ensure whether people are interested in selling that token on the exchange. Thus, liquidity means the availability and scale of crypto funds on a particular exchange.
For this, you should check the number of trading pairs supported by the platforms and the 24-hour trading volume of the platform.
- KYC Rules
KYC stands for Know Your Customer. Almost all the centralized exchanges have a KYC Policy basis that collects information of user and enable them to use the platform.
What you need to check is the type of information collected as well as the time in which verification is done by the exchange.
- Trading Fee
On every transaction, a trading fee would be charged by the exchange. This trading fee is a cost to you and thus you should try and choose an exchange with the lowest trading fee.
- The reputation of exchange in the market
A crypto exchange is an intermediary between a buyer and a seller. Therefore, you need to ensure that an exchange is legit and does not have a bad reputation in the market.
For this, you should search for any possible scams that an exchange could have been a part of.
- Relationship of the exchange with the country’s authorities
Lastly, you should check whether a crypto exchange is in line with the regulations of your country. In case an exchange is banned by the authorities, you should not use that exchange in any case.
Conclusion – Best Crypto Exchanges 2024
Trust me, I have squeezed my 5 years of experience in the crypto markets in this single post. My objective is to bring you the most feasible products of the crypto markets and help you in earning life-changing money.
I will update this post as I find other trustable and feature-rich cryptocurrency exchanges. For now, you can consider joining our Telegram channel to stay updated with all the latest info.
I hope these insights help you in choosing the best cryptocurrency exchange for you to use.
But one word of caution:
Don’t use these exchanges as a wallet to HODL your cryptos. If you are storing cryptocurrencies on these exchanges for a few hours or even a few days for the sake of trading, then it’s probably OK. Otherwise, this is a bad practice.
Large-scale hacks like Mt. Gox can happen at any time. I would strongly recommend you to use the Ledger Nano X, where you can store a lot of different cryptos and control your private keys.
So now it’s your turn to tell me: Which one of these exchanges do you like the best? Also, what’s another great exchange that I haven’t listed here? Let me hear your thoughts in the comments below!
Here are a few hand-picked articles you should read next:
- Investing In Cryptocurrencies 101: A Beginner’s Guide
- Best Bitcoin Exchanges In The World For Trading Bitcoins
- Binance Alternatives: Crypto Exchanges Similar To Binance
Are any cryptocurrency exchanges regulated
There are a few exchanges that are regulated. For example, Coinbase, CEX, Kraken are regulated.
Which are the best cryptocurrency exchanges in 2024?
As mentioned above, the following are the top cryptocurrency exchanges:
1. Binance
2. Bybit
3. KuCoin
4. OKX
5. Bitget
6. MEXC
7. Kraken
8. GMX
9. HTX
10. AscendEX
Which cryptocurrency exchange has the lowest fees
What is the best Cryptocurrency exchange for beginners?
Binance and Bybit are the two most popular exchanges for beginners.
Which Cryptocurrency exchange has the most coins?
Binance has the maximum number of coins that are of high quality.
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