Over time, crypto exchanges have gained popularity among traders worldwide. They have added a new financial growth opportunity for all, and as a result, the number of platforms providing crypto trading services has rapidly increased. Every crypto exchange platform has unique features targeted at specific user needs, which leads new crypto traders to hop from platform to platform. To help you navigate the world of crypto exchanges, CryptonewsZ has analyzed various platforms and created a list of top crypto trading platforms for different user types. Our research considered key factors such as platform fees, available features, advanced trading tools, security measures, various supported cryptocurrencies, mobile app functionality, and more.
Key Takeaway
- Explore the top crypto exchanges and their features.
- Get a list of country-specific best crypto platforms.
- Read tips and tricks to choose the best exchange.
Best Crypto Trading Platforms 2024
Top Crypto Exchanges
Let’s get started with the review of global digital asset exchange.
Coinbase – Most Secure Cryptocurrency Exchange
Available coins
250+
FEES (MAKER AND TAKER)
0.05% to 0.60% & 0.00% to 0.40%
Regulated
Yes
PrimeXBT – Multi-Asset Investment & Trading Platform
Available coins
40+
FEES (MAKER AND TAKER)
0.05% & 0.05%
Regulated
Yes
MEXC – User-Friendly Crypto Trading Platform
Available coins
2600+
FEES (MAKER AND TAKER)
0% & 0.02%
Regulated
No
Margex – An Efficient Crypto Trading Platform
Available coins
35+
FEES (MAKER AND TAKER)
0.060% & 0.019%
Regulated
No
Bitfinex – Best Multi-Asset Exchange
Available coins
400+
FEES (MAKER AND TAKER)
0.100% & 0.200%
Regulated
Yes
Gemini– Most Secured Exchange & Best for US Traders
Available coins
70+
FEES (MAKER AND TAKER)
0.02% & 0.07%
Regulated
Yes
Kraken– Exchange With High Security
Available coins
240+
FEES (MAKER AND TAKER)
0.25% & 0.40%
Regulated
Yes
Poloniex– Best for Cross Margin Trading
Available coins
400+
FEES (MAKER AND TAKER)
0.015% & 0.05%
Regulated
Yes
CEX.io– Customer Centric Crypto Trading Platform
Available coins
200+
FEES (MAKER AND TAKER)
0.25% & 0.15%
Regulated
$20
OKX – Largest Social Trading Platform
Available coins
300+
FEES (MAKER AND TAKER)
0.080% & 0.100%
Regulated
Yes
Comparing the Best Crypto Trading Platforms
| Exchange | Minimum deposit | Regulatory Authority | Customer Support | Review |
|---|---|---|---|---|
| Coinbase | $50 | New York State Department of Financial Services |
Live Chat & Pre-Fed Articles |
|
| PrimeXBT | $0 | Financial Crime Investigation Service (FCIS), Saint Lucia (Registration No. 2024-00343) |
Live Chat & Email |
|
| MEXC | $0 | – |
Telegram, Form & Live chat |
|
| MARGEX | $10 | – |
Live Chat & Email |
|
| Bitfinex | $0 | Bitfinex Securities El Salvador |
Live Chat, Pre-Fed Articles & Form |
|
| Gemini | $0 | New York State Department of Financial Services (NYSDFS) |
Live chat, form & Phone support |
|
| Kraken | $0 | Financial Conduct Authority (FCA) |
Live chat & Form |
|
| Poloniex | Vary from coin to coin | Regulated only for European Economic Area (EEA) |
Live chat |
|
| CEX.io | $20 | Financial Crimes Enforcement Network (FinCEN), State Enterprise Centre of Registers of the Republic of Lithuania |
Live Chat & Email |
|
| OKX | $0 | Monetary Authority of Singapore (MAS) |
FAQs, Pre-Fed Articles, live chat & Form |
*Disclaimer: The fee structure may vary based on trading volume. Rates are subject to change and can fluctuate according to market conditions.
Country-Specific Cryptocurrency Exchanges Recommendations
If you are looking for a country-specific crypto exchange list, then check out below:
Cryptocurrency Law and Regulations
Knowing the cryptocurrency laws around the world is vital. It covers many things like legal status, regulatory bodies, anti-money laundering and know your customer rules, taxes, consumer protection, security, and international compliance which is generally regulated by government authorities like the Securities and Exchange Commission (SEC). Cryptocurrency laws differ across countries, so people and businesses dealing with cryptocurrencies must follow the rules specific to each region. Strong measures against money laundering, terrorism financing, and fraud exist, along with regulations on cybersecurity and consumer protection. These reasons impact global cryptocurrency laws, which leads to frequent changes in rules and regulations depending upon country-to-country. Therefore, people worldwide who transact or work with cryptocurrencies must stay well-informed about these standards to comply properly and reduce risks effectively.
Our Methodology
Here are some common points that we have considered for creating the best crypto platforms for traders:
- Basic and Advanced trading features
- Crypto Fees
- Easy to trade
- Platform availability on a different device
- Number of cryptocurrencies available to trade
- Number of Register Traders
- Knowledge Panel for traders
- Customer Support availability
Learn more about our approach to reviewing Crypto Exchange platforms. Explore our methodology!
Conclusion
In conclusion, a crypto exchange is an integral part of the crypto community, as crypto investors or traders choosing the right exchange matters. This article has covered important aspects of exchanges that are best suited for a broad spectrum of crypto investors and traders. We have also covered the essential features of these exchange networks, like top features, platform fees, security, user type, user-friendliness, coin variety, etc. Additionally, we have provided a crypto exchange list to aid in your decision-making process.
To get the most out of it, you must consider the best crypto exchange that matches your needs and maximizes your profits. With a clearer understanding of cryptocurrency exchanges, you can make informed decisions and navigate into the crypto world.
FAQs
What is the Difference Between a Crypto Wallet and a Crypto Exchange?
Crypto wallets are digital storage services used for securely storing cryptocurrencies like Bitcoin in the form of private keys. On the other hand, a cryptocurrency exchange acts as an intermediary that connects Bitcoin buyers and sellers. Most of the exchanges also provide crypto wallets to their users. However, some exchanges may charge a certain fee to provide crypto wallets.
What is the largest crypto platform?
Based on trading volume here are some biggest platforms:
- Binance
- Kraken
- PrimeXBT
- Coinbase
What are the Best Crypto Exchanges for Beginners?
The best crypto exchanges for beginners from our point of view are as follows:
- CEX.io
- KuCoin
- Coinbase
What is the Safest Crypto Exchange?
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Considering the security features and past malware attacks, Coinbase and Kraken have been performing best. With 2-factor authentication and an advanced security layer, protecting traders’ assets.
What should a beginner learn in crypto?
New traders should keep in mind the following points:
- Get the basic knowledge of blockchain technology and how it works.
- Analyze the pattern of cryptocurrency you want to trade and understand its background.
- Before choosing the crypto platform research its features and security, availability of crypto tokens, its security, and its popularity among active users.
- Most importantly, know the rules and regulations regarding crypto in the country you will trade.
Explore Our Comprehensive Guide on the Crypto Trading Platform
What Is a Cryptocurrency Exchange?
Cryptocurrency exchange is a digital platform where users can buy, sell, and trade various cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin. The function is similar to that of a traditional stock exchange; instead of exchanging stocks, these platforms facilitate the exchange of digital assets among users without the involvement of intermediaries like banks or financial institutions. Cryptocurrency exchanges offer a wide range of features and services to accommodate different trading needs. These may include advanced trading tools, such as charting and analysis tools, as well as various order types to execute trades under specific conditions.
Types of Crypto Exchanges
Centralized Exchanges: Centralized exchanges (CEX) are cryptocurrency trading platforms that are operated and managed by a central authority or organization. In a centralized exchange, users deposit their funds into accounts hosted by the exchange, which then facilitates trading between users by matching buy and sell orders.
These exchanges typically function as intermediaries, providing a platform where buyers and sellers can interact and exchange cryptocurrencies and use these order books to match orders and execute trades.
Decentralized Exchanges: Decentralized exchanges are also known as P2P (peer-to-peer) crypto trading platforms. As the name suggests, they are decentralized in nature, meaning they are not controlled by a single authority, unlike a centralized exchange. A decentralized exchange is based on blockchain technology, while some are also supported by Ethereum’s smart contract. Decentralized exchanges offer users anonymity as they are not required to share their information to create their accounts.
Hybrid Cryptocurrency Exchanges: Hybrid cryptocurrency exchanges combine the best aspects of centralized and decentralized exchanges. For instance, they offer the high liquidity and trade sizes of centralized exchanges and the safety and security measures of a decentralized exchange via blockchain technology and smart contracts. Eidoo, Stoxum, Qurrex, DEX, etc., are examples of hybrid exchanges.
Factors to Consider While Choosing the Best Crypto Exchange
With a growing number of crypto exchanges, navigating to the best crypto exchange as per your need is the important part, follow the below points to get to your desired crypto exchange:
Currencies Supported: Based on your preferences, you can opt for a cryptocurrency exchange platform that supports the currencies you are interested in, whether cryptos or fiat currencies.
Payment Methods: Determining the payment methods for both deposits and withdrawals is the next major step. Not all crypto exchanges allow users to purchase cryptos using fiat currency or payment systems you are interested in. Hence, make sure that the cryptocurrency exchange supports your preferred payment method like bank transfer, Bank cards, payment gateways, etc.
Hidden Charges: It is a fact that even the best Bitcoin exchanges make money via the cryptocurrency exchange fees. Nevertheless, certain crypto exchanges with the lowest fees also charge additional fees like inactivity fees, deposit fees, withdrawal fees, etc.
Safety and Security Protocols: Safety measures are the key to determining whether the crypto exchange is reliable. Some elements to consider include SSL encryption, a 2-factor Authentication process, user ID verification, and insurance related to crypto-assets.
Customer Support: it seems a basic need but customer support is a crucial checkpoint, always look for live chat, email support, and telephonic support. We recommend readers opt for an exchange platform with a strong social media presence, where one can post their queries and concerns.
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Is your Exchange a Market Maker?: Certain online platforms often buy and sell securities to impact the crypto market. Understanding whether the exchange is a crypto market maker will often benefit you in the long run, as you can profit from the bid-ask price.