As cryptos have blown up in popularity the number of exchanges has grown and each one offers something different. A crypto exchange is a platform where you can buy, sell, and trade cryptos.

In this fast-paced market choosing the right exchange can mean the difference between a profitable investment and a costly mistake. A good platform should prioritize security, and have robust measures in place to protect users assets and personal info. It should also have a user-friendly interface so even newbies can navigate and execute trades easily. The best exchanges also offer competitive fees, many supported cryptos and high liquidity for fast and smooth transactions.

In this blog we’ll be looking at the top crypto exchanges of 2024 and what makes them special. Whether you’re an experienced trader or just starting out this guide will help you find the right exchange.

1. OKX

Best for: Those who want a big crypto exchange with many trading instruments and an international presence.

OKX is one of the biggest and most well-known crypto exchanges in the world. They offer a wide range of cryptocurrency pairs including BTC, ETH, and many more, and also instruments like margin trading and futures. OKX ensures high security with advanced encryption and multi-level authentication. They also cooperate with regulators to increase trust in the platform.

Pros:

• Many cryptocurrency pairs and instruments.
• High security and compliance with regulations.
• Global presence and customer support worldwide.

Cons:

• Some users may find it hard to get started due to its complex features.
• Some countries made it illegal to use the platform due to local regulations.

2. Binance

Best for: Experienced traders who want low fees.

One of Binance’s main features is its many supported cryptocurrency assets. They offer trading for over 350 cryptos making them one of the biggest and most diverse exchanges. Binance also has the lowest fees in the industry and is the most liquid exchange.

Despite being well respected in the crypto community the platform is not accessible in some countries due to bans. Some users also have concerns about the lack of transparency in Binance’s operations and decision-making. Binance has also been struggling to keep its assets as customers are withdrawing billions from the exchange.

Pros:

• Many cryptos.
• Low fees and trade limits.
• Advanced features.
• Mobile app for iOS and Android.

Cons:

• Banned in some Countries
• Lack of transparency.
• Complex interface for newbies.
• Security issues (2019 hack)

3. Bybit

Best for: Experienced traders looking to margin trade.

Bybit is a margin trading and futures-focused exchange. They have advanced trading tools and an interface for experienced traders. With a solid tech architecture, Bybit is fast and liquid. They also work hard to secure and protect user funds.

Pros:

• Margin trading and futures.
• Advanced trading tools and interface.
• Fast and liquid.

Cons:

• Limited cryptocurrency pairs compared to others.
• Not suitable for beginners.

4. KuCoin

Best for: Traders looking for new and niche altcoins.

Founded in 2017 and based in Seychelles, KuCoin has over 700 cryptocurrencies, including many new and niche coins not available on other exchanges. They have competitive trading fees making it a good option for many traders. KuCoin has tools for technical analysis and margin trading so it’s popular among experienced traders. Their referral program has built a strong and active community.

Pros:

• Many crypto assets.
• Competitive fees.
• Advanced features.
• Mobile app for iOS and Android.

Cons:

• Security issues (breach in 2020).
• Limited access in some countries due to regulations.
• Interface can be confusing for beginners.

5. Gate.io

Best for: Traders looking for many trading pairs and extra services.

Gate.io has many trading pairs and extra services. Known for user friendly interface and many crypto assets. Gate.io also has margin trading, staking and cryptocurrency loans for all kind of traders.

Pros:

• Many trading pairs.
• Extra services (margin trading, staking).
• Simple and easy to use.
• Good liquidity.

Cons:

• Some users may find fees a bit high.
• Some features are not available in some countries.

6. MEXC

Best for: Traders looking for new projects and lesser-known coins.

MEXC is a cryptocurrency exchange that focuses on investing in new projects and lesser-known coins. They have a platform to trade with many altcoins and add new assets regularly. MEXC also has innovative features like auctions and staking to attract all kind of traders.

Pros:

• Many lesser-known coins
• Active support for new projects
• Innovative features
• Good user support.

Cons:

• Liquidity issues for some trading pairs
• Interface can be complex for beginners.

7. BingX

Best for: Traders looking for high liquidity and many trading pairs.

BingX is a cryptocurrency exchange that has many trading pairs and instruments. They are known for high liquidity and stable trading platform. BingX has futures, options and leverage for experienced traders. They work hard to secure user funds.

Pros:

• High liquidity
• Wide range of trading pairs
• Variety of instruments
• Emphasis on user fund security.

Cons:

• Fees are high
• Does not support all crypto assets.

8. Coinbase

Best for: Newbies who want to learn about crypto

Coinbase is a crypto brokerage where you can buy or sell crypto for fiat (cash). It was founded in 2012 and used to be based in San Francisco, California. Now it’s a decentralized exchange with no main office but is available in over 100 countries.

You can buy, sell and store various crypto assets including Bitcoin, Ethereum, Bitcoin Cash and more.

Coinbase is a publicly traded company with $36 billion in market cap. They store US dollar balances through FDIC-insured banks to protect users’ digital funds in case of a security breach.

Pros:

• User-friendly: Coinbase has a simple interface, perfect for new traders to navigate and trade.
• Mobile app: Coinbase mobile app allows you to trade and manage your portfolio.
• Security: Coinbase has two-factor authentication and insurance for digital assets on the platform.
• Earn: Coinbase Earn allows you to earn small amounts of crypto by completing educational tasks.
• Tools and resources: The platform has tools and resources for traders including charts, price alerts and news.
• Reputation: Coinbase has a good reputation in the crypto space and is one of the most trusted exchanges in the market.

Cons:

• Higher fees: Coinbase has higher fees than other exchanges, not ideal for experienced traders who want to make many trades.
• Limited crypto assets: Coinbase supports several popular cryptos but only offers a limited number of assets and trading pairs compared to other exchanges.
• Regulatory restrictions: Coinbase is restricted in some countries so may not be available to users in certain areas.
• Controversies: Some users have raised issues with Coinbase’s business practices including their relationship with regulatory bodies and adding certain cryptos to the platform.