With a heap of options available in 2024, choosing a secure and user-friendly crypto exchange that will accommodate your trading goals and strategies can seem like a daunting task, especially for beginners.
To make your decision making easier, this article will explore the top 5 crypto exchanges in 2024 and go over some of their key features, fees, and security measures. By understanding the unique offerings of each candidate on our list, you can make informed decisions about where and how to invest in crypto.
What is a crypto exchange?
Crypto exchanges
Top 5 Crypto Exchanges in 2024
In this section, we explore five crypto exchanges based on the unique features and services they offer. The platforms on our list have risen to prominence thanks to their commitment to security, liquidity, and user experience, as well as their flexibility and a range of supported cryptocurrencies.
The top 5 crypto exchanges in 2024 are:
1. Binance
As the world’s largest cryptocurrency exchange, whose volume accounts for over 40% of the global crypto market share, Binance needs no special introduction. The platform has gained a reputation for reliability and transparency, and its user base is constantly on the rise. The popularity of the platform can be ascribed to factors such as:
- Reliability: Binance has proven to be a reliable exchange, adhering to industry standards and regulations and helping legitimize cryptocurrencies as a mainstream asset class;
- Asset availability: Binance offers a wide range of tokens and trading pairs (over 1300);
- Security: The platform’s Secure Asset Fund for Users safeguards user funds by allocating 10% of all trading fees into a separate cold wallet;
- Binance Coin (BNB): Binance Coin is Binance’s native token, which can be used to reduce trading fees;
Binance fees
Binance charges a flat 0.1% trading fee, which can be further reduced if you purchase the Binance Coin. There are no deposit fees, but users are charged a fixed fee when transferring cryptocurrency from their Binance account. Withdrawal rates vary depending on blockchain network conditions.
2. Coinbase
Coinbase allows individuals to purchase and trade over 250 crypto assets, and its Coinbase Pro platform offers advanced tools for more experienced traders, such as charting software, real-time order books, and margin trades. Moreover, it is known for its Coinbase Prime platform, designed specifically for institutional clients and offering advanced data analytics.
In addition, the platform comes with features such as:
- Crypto staking: Staking allows users to earn passive income by participating in blockchain network governance. Staking is available for major assets like Ethereum and Tezps (with varying annual returns);
- Coinbase wallet: Coinbase’s crypto wallet supports decentralized applications (dApps);
- Coinbase card: Coinbase has a Visa debit card that allows users to spend their cryptocurrency holdings at millions of locations across the globe;
- Coinbase Custody and Vault: Coinbase Custody is a feature designed for institutional customers looking for secure storage for their digital assets. Coinbase Vault, on the other hand, provides cold storage for retail clients;
- Coinbase Commerce: Coinbase Commerce enables businesses to accept crypto payments;
Coinbase fees
Coinbase fees are a bit higher. Makers incur lower fees compared to takers, being charged 0.00%–0.40% of their transaction amount, while takers have to pay 0.05%–0.60%. However, the numbers can go down depending on your trading tier and transaction volume.
3. Bitget
Bitget is a major cryptocurrency exchange platform with a range of trading features and services. Namely, it supports over 545 cryptocurrencies (USDT, USDC, BTC, ETH, BGB, etc.) and 645 trading pairs, including spot exchange and futures trading and coin-margined futures. Moreover, the platform has its native token, $BGB, which has performed well in the market, being the most traded exchange token in 2023.
In addition to a wide selection of cryptocurrencies and trading pairs, the platform provides advanced trading features, such as:
- Copy trading, where users can mimic the trades of elite traders;
- Trading bots (available 24/7);
- Margin trading with up to 10x leverage, which gives users versatility with cross-margin and isolated-margin modes.
More importantly, Bitget offers multilingual customer support (also available 24/7) and emphasizes digital security first and foremost. Namely, it collaborates with top security vendors and utilizes advanced encryption techniques to protect user data and assets. It also maintains a Bitget Protection Fund to compensate users in case of account breaches or asset losses.
In addition, the Bitget Academy platform offers investors educational materials on a wide range of crypto and blockchain topics as well as an extensive collection of resources, including articles and courses.
Finally, the platform features staking services for over 100 currencies, a number of structured products, and a competitive Annual Percentage Rate (APR). There is also crypto lending, a feature allowing users to borrow funds, as well as the Bitget Coin-Margined Futures feature that lets traders reap the benefits of the liquidity of their staked assets without unstaking them.
Bitget fees
Bitget charges a 0.1% trading fee for both maker and taker transactions on spot trading. Users who have invested in the Bitget Token (BGB) can lower the fee to 0.08%. For futures trading, the fees are 0.02% for makers and 0.06% for takers.
4. KuCoin
KuCoin is a popular cryptocurrency exchange known for its extensive coin and pair offerings, technological innovation, and community-oriented approach. Namely, the platform hosts over 700 cryptocurrencies and more than 1,000 trading pairs — including major pairs like BTC/USDT and ETH/USDT — and it’s building a community where users can voice their opinions and ideas if they wish to contribute to the platform’s growth.
In addition, KuCoin is characterized by:
- Solid adoption: KuCoin is home to almost 30 million global users and has a 24h trading volume of $1.25 billion;
- Technological innovation: The platform relies on blockchain services to safeguard user data and facilitate trading;
- KuCoin Shares (KCS): KuCoin’s native token, KCS, offers benefits like reduced trading fees and trading commission shares;
- Various trading options: KuCoin features a number of trading options, including spot trading with competitive fees, margin trading with leverage, futures trading with up to 100X leverage, etc.
- KuCoin Indexes: KuCoin offers indexes for cryptocurrencies like Bitcoin, Ethereum, and Litecoin;
- Interest earning: Users can participate in KuCoin’s lending program and earn interest on their cryptocurrencies.
KuCoin fees
KuCoin has a tiered fee system. It starts with a maker fee of 0.1% and a taker fee of 0.1%. Traders can lower the fees based on their KuCoin Token (KCS) holdings, Bitcoin (BTC) trading volume, or their total monthly Bitcoin (BTC) futures trading volume.
5. eToro
eToro is another well-regulated crypto exchange that has managed to make a name for itself thanks to its social and copy trading features, which allow nearly 3 million of its daily users to follow and replicate the trades of experienced investors.
In addition, eToro offers an intuitive user experience, advanced order types (limit, market, stop-loss), and a wide range of available assets, including cryptocurrencies, stocks, and commodities, which make it a jack of all trades among the platforms on our list.
eToro USA LLC does not offer CFDs.
eToro fees
Crypto trading on eToro incurs a 1% fee based on the amount of crypto bought or sold. There are no withdrawal fees, but a minimum withdrawal amount of $30 applies (no withdrawal fees are available for the US users). As for the transfer fees, they apply when you wish to move crypto from the eToro platform to the eToro Money crypto wallet.
Note also that users who remain inactive for over a year have to pay a $10 monthly inactivity fee.
Disclaimer: Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
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Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.
Conclusion
Trading crypto isn’t just about picking the right exchange — it’s about constantly expanding your knowledge about digital currencies, market trends, and investing in general. However, as you grow as an investor, a good crypto exchange will provide you with the necessary resources to help you realize your investment potential and stay afloat in the rapid crypto waters.
Our top 5 crypto exchanges in 2024 include Bitget, Binance, KuCoin, eToro, and Coinbase. Each of them has its own unique offerings, fee structures, and services that will cater to novice and experienced traders alike. No matter whether you prioritize security, asset variety, or lower fees, these platforms have something to offer.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs
What are the top 5 crypto exchanges in 2024?
The top 5 crypto exchanges in 2024 are Bitget, Binance, KuCoin, eToro, and Coinbase.
What are the different types of crypto exchanges?
There are two primary types of crypto exchanges:
- Centralized exchanges (CEX) managed by a single organization that serves as an intermediary between traders;
- Decentralized exchanges (DEX) on which network participants share responsibilities for maintaining the network, which fosters transparency and resilience.
How do crypto exchanges make a profit?
Crypto exchanges make a profit from transaction fees, trading charges, crypto lending interest rates, etc.
