How to choose the best crypto exchanges: top list in 2024

Nowadays, where there are hundreds of cryptocurrency exchanges worldwide, it might take a lot of work for a novice trader to choose a reliable company. However, there is a solution: in direct proportion to the number of exchanges, there is a whole bunch of constantly updated analytics from top experts.

For example, you can find the latest information at chainbroker.io/funds. These ratings will allow you to quickly and with minimal risk enter the world of crypto-economics and start earning now!

By what criteria do experts evaluate crypto exchanges?

When compiling the ratings, experts take into account a large number of characteristics of the trading platform:

• daily trading volumes;
• represented markets and supported assets;
• types of trades;
• the possibility of replenishing the account and withdrawing funds;
• commissions for financial transactions;
• terms of the user agreement;
• home jurisdiction;
• interface and localization quality;
• the features of the user’s account;
• additional functionality and other features.

When choosing a crypto exchange, it is essential to consider the key parameters that affect the convenience and security of trading. For advanced users, supported types of trades and currency pairs for which trading is available matter. Let’s look at some of the significant aspects for a better understanding.

Trading volumes

Trading volumes directly indicate the platform’s popularity and its traders’ activity. The best sites leading the rating of crypto exchanges in terms of trading volume demonstrate a daily turnover of more than $1 billion. The higher this indicator, the more trust the site deserves, the more opportunities its customers have, and the higher the level of reliability.

Markets and Assets

Choosing an exchange that supports trading in many assets is vital. Leading exchanges support transactions with hundreds of currency pairs, including digital assets and fiat currencies. Many pairs allow traders to find the most profitable quotes and make deals for profit.

In addition to currency trading, some exchanges support transactions with other valuable assets. Company shares, energy resources, and other classic trading objects are among them. Support for such trades is an advantage for clients who do not wanting to be limited to cryptocurrency transactions.

Types of trades

The convenience of the exchange directly depends on the types of trades available. For novice traders, the bare minimum is to support spot trades carried out at the expense of their own funds and options trading. More advanced clients are interested in leveraged margins and futures trades. They should pay attention to the amount of leverage, which indicates how much currency can be borrowed. It depends on the exchange and the selected asset and varies from 1:2 (a loan twice the number of own assets) to 1:100 or more. The greater the leverage, the higher the risks, but the greater the potential profit from a successful transaction.

Depositing and withdrawing

A critical exchange specification is the available methods for depositing and withdrawing. The best crypto exchanges allow you to deposit funds directly from cryptocurrency wallets and work with fiat payment instruments. The more deposit and withdrawal options the platform offers, the better for its customers. The choice of tools allows you to avoid unnecessary conversions when withdrawing funds, thereby increasing the net profit from trading.

Commissions

To use the services, cryptocurrency exchanges charge users commissions that make up their earnings. Platforms use various models of their accrual; for example, they impose such fees for exchange transactions but allow you to replenish your account and transfer assets for free, or vice versa.

The best exchanges actively use regressive rates: the higher the turnover of funds on the trader’s account, the lower the commission. When choosing a platform, you should pay attention to the number of fees for transactions with those assets that you plan to trade.

Interface

The convenience and friendliness of the interface are the parameters that are especially important for beginners. Good resources offer customers well-designed sites free from frills, high-quality translations into different languages, and a full-fledged help section. Exchanges with poor interface translation, no FAQ, and other technical flaws are less trustworthy.

Rating of the best crypto exchanges in 2024

We recommend checking all statistics on ChainBroker, as this media about cryptocurrencies has established itself as a reliable source with always up-to-date data. So, according to the site, the best crypto exchanges to invest in 2024 are:

1. Binance

Binance remains one of the largest and most popular cryptocurrency exchanges globally. It offers various cryptocurrencies and advanced trading features, making it ideal for beginners and experienced traders. With low fees, strong security measures, and a comprehensive suite of trading tools, Binance continues to dominate the market.

Key Features:

• Over 500 supported cryptocurrencies.
• Competitive trading fees.
• Advanced charting tools and features.
• Robust security protocols, including two-factor authentication (2FA).

2. Bitfinex

Bitfinex is known for its advanced trading options and liquidity. It caters to professional traders with features such as margin trading, derivatives, and advanced order types. Bitfinex also offers a high level of security and a customizable interface.

Key Features:

• Advanced trading features, including margin trading.
• High liquidity for significant cryptocurrencies.
• Customizable user interface.
• Strong focus on security and privacy.

3. ByBit

ByBit has gained popularity among crypto traders, particularly for derivatives trading. It offers perpetual contracts with up to 100x leverage and a user-friendly interface. ByBit’s focus on speed, reliability, and user experience makes it a strong contender for traders in 2024.

Key Features:

• Focus on derivatives trading.
• High leverage options.
• User-friendly platform.
• Strong customer support.

4. Coinbase

Coinbase is one of the most well-known and user-friendly exchanges, making it ideal for beginners. It offers a straightforward interface and a secure environment for trading various cryptocurrencies. Coinbase Pro’s advanced platform provides more detailed trading features for experienced users.

Key Features:

• Easy-to-use interface, ideal for beginners.
• Wide range of supported cryptocurrencies.
• Robust regulatory compliance and security measures.
• Coinbase Pro for advanced trading features.

5. Crypto.com

Crypto.com is a rapidly growing exchange that offers a comprehensive suite of services, including trading, staking, and crypto credit cards. It’s known for its competitive fees, extensive rewards program, and many supported assets.

Key Features:

• Comprehensive services, including staking and lending.
• Competitive fees and rewards.
• User-friendly mobile app.
• High security and regulatory compliance.

6. FTX

FTX is a derivatives-focused exchange that has quickly risen to prominence due to its innovative products and user-friendly platform. Although it faced challenges in the past, FTX’s resilience and focus on customer experience make it a top choice for traders in 2024.

Key Features:

• Wide range of derivatives and futures contracts.
• User-friendly interface.
• Innovative products like tokenized stocks.
• High liquidity and robust security measures.

7. Gate.io

Gate.io is one of the oldest cryptocurrency exchanges, offering many cryptocurrencies and trading pairs. It’s known for its robust security features and a wide variety of supported altcoins, making it popular among altcoin traders.

Key Features:

• Wide variety of cryptocurrencies and trading pairs.
• Strong security measures, including cold storage.
• User-friendly interface with advanced trading options.
• It is regularly updated with new coins and tokens.

8. Huobi

Huobi is a global exchange known for its high trading volume and deep liquidity. It supports many cryptocurrencies and offers advanced trading features, making it suitable for beginners and professional traders. Huobi also has robust security features and regulatory compliance.

Key Features:

• High liquidity and trading volume.
• Wide range of supported cryptocurrencies.
• Advanced trading tools and features.
• Robust security protocols and regulatory compliance.

9. Kraken

Kraken is among the oldest and most respected crypto exchanges, known for its robust security and wide range of supported cryptocurrencies. It offers advanced trading features, including futures and margin trading, and a user-friendly interface for beginners.

Key Features:

• Extensive security measures, including cold storage.
• Wide range of supported cryptocurrencies.
• She advanced trading options such as margin trading.
• High liquidity and user-friendly interface.

10. KuCoin

KuCoin is a popular exchange that offers various cryptocurrencies and trading pairs. It’s known for its user-friendly platform, low fees, and innovative features like staking and lending. KuCoin also offers a native token, KCS, which provides users various benefits.

Key Features:

• Wide range of supported cryptocurrencies.
• Low trading fees.
• Innovative features like staking and lending.
• Native token (KCS) with user benefits.

11. OKX

OKX (formerly OKEx) is a global exchange that offers a comprehensive trading platform with a wide variety of cryptocurrencies, futures, and options. It’s known for its high liquidity and advanced trading features, making it a strong choice for professional and retail traders.

Key Features:

• Extensive range of cryptocurrencies and trading pairs.
• Advanced trading options, including futures and options.
• High liquidity and competitive fees.
• Strong security measures.

12. WhiteBit

WhiteBit is a relatively new exchange that is quickly gaining traction due to its user-friendly interface and robust security features. It offers a wide range of cryptocurrencies and trading pairs and competitive fees, making it an attractive option for traders in 2024.

Key Features:

• User-friendly interface and easy navigation.
• Wide range of supported cryptocurrencies.
• Competitive trading fees.
• Strong focus on security.

It’s no surprise that Binance will always be on the list, as it’s a reliable platform with a vast selection of currency pairs and markets, the possibility of margin trading in different directions, significant leverage, referral programs, and other goodies.

However, expanding beyond the most popular exchange would be best. Any of the platforms mentioned above is the right place to invest, and each offers unique goodies to its clients. For example, ByBit’s trading engine, with speeds up to 100K TPS, ensures fast transactions with virtually zero chance of failure, and its dual price mechanism protects against unfair position liquidation.

Huobi attracts users with a simple verification procedure, the ability to perform some transactions without identity verification, a large selection of trading types and additional services, low commissions with a flexible accrual system, etc.

Coinbase provides guarantees to users who store cryptocurrencies in the system’s wallets, provides the ability to issue a physical debit card, and offers many cryptocurrencies for trading.

Bitfinex is attractive for interest-free intra-exchange transfers, the presence of margin trading, the ability to trade not only cryptocurrencies but also securities, derivatives, convenient tools for tracking the rate, and others.

In short, you have plenty to choose from. Now that you know what to look for and where to get reliable information, you will find a perfect resource.