13 Best Crypto Exchanges and Apps For 2024

Founded in 2011, Kraken is a US crypto exchange and one of the first Bitcoin exchanges listed on Bloomberg Terminal. Reportedly valued at US$10.8 billion, Kraken is packed with 200+ cryptocurrencies. Members can start trading in minutes with only $10 and expect industry-leading security and 24/7 customer service.

Prime XBT is a versatile crypto exchange platform that supports trading of cryptocurrencies, commodities, forex, and indices. The platform has been operating since 2018 and is offering its services in more than 150 countries across the globe. With the industry-best cyber security implementations, Prime XBT offers security to its users’ investment funds. Furthermore, because of its unique features, it is often referred to as the Prime XBT crypto futures trading platform.

BYDFi, which used to be called BitYard, started to be known among the crypto exchanges in 2019, soon providing the most revolutionary trading features for its customers. The immediate newcomers in the market may be offering cash and derivatives trading as well as low fees to attract both novice traders and experienced ones.

Why we like it?

Given its user-friendly interface and advanced trading features, BYDFi stands out. The exchange has chosen to use two platforms that can be accessed by traders: classic and advanced. These two platforms have better functions, like advanced charting and trading capabilities, that the usually centralized crypto exchanges do not offer. Furthermore, BYDFi provides an award for tasks that users accomplish, for example, magic is woven into the platform to make it more compatible with the users.

WOO X operates on a unique business model that combines liquidity aggregation from several CeFi venues to offer exceptional liquidity to our users at the most affordable price. WOO X has exceptionally low base fees, which go as low as 0% for select pairs in its ‘Zero Fee Zone’. WOO X aims to give traders the best price execution possible, along with cutting edge trading tools and user interface, radical transparency, and an innovative culture. With WOO X’s superior trade execution, traders can now retain a larger portion of their earnings.

As mentioned earlier, the platform charges the lowest fees, which automatically makes it unique. Moreover, its liquidity aggregation and other features further add to its competitive advantage.

Bitget is among the most popular crypto exchanges. It offers impeccable services and has exceptional client retention policies. Due to its entire setup, the exchange experienced a huge surge in trading volume. As of now, the trading volume of Bitget is $861,736,199. With a focus on copy trading and other smart trading tools, the exchange boasts 20 million users spread across 100 countries.

Robinhood is a crypto exchange (USA based) that’s a good choice for novice investors. The platform is commission-free and doesn’t charge for withdrawals or inactive accounts. Beginners can enjoy easy mobile and web trading platforms and seamless account openings. Purchases can start with as little as $1.

A global leader in digital asset exchanges, OKX uses blockchain technology to offer cutting-edge financial services to international traders. They have offices in Dubai, Turkey, Hong Kong, Silicon Valley, Singapore, and Australia. OKX is a respectable choice for global cryptocurrency merchants looking for low exchange fees. Purchasing digital assets and earning very high returns when using the staking or storing features are simple with an OKX account.

Founded in 2017, Binance is a global powerhouse. This cryptocurrency infrastructure provider and blockchain boast the largest crypto exchange footprint in terms of daily trading of digital assets. Users can utilize over 350 cryptocurrencies, enjoy strict security, and earn daily rewards on idle tokens.

Gemini is a highly-regulated US-based cryptocurrency exchange and custodian. Founded in 2014, it also runs out of Canada, the UK, Hong Kong, Singapore, and South Korea. Gemini focuses on innovative security solutions to protect users’ assets and allows members to sell, buy, and store digital assets on the platform. 

Crypto.com was founded in 2016 in Singapore. Touted as the “world’s leading cryptocurrency platform,” it provides 80 million users with proof of regulatory compliance, security certifications, and the industry’s best insurance coverage. It’s great for users who prefer mobile trading, decentralized finance, and fiat transactions.

eToro was founded in 2007 in Israel. The company expanded exponentially and now also has registered offices in the US, UK, Australia, and Cyprus. As a multi-asset investment company, eToro offers financial services and 3,479 tradeable symbols to its 25 million members in 140 countries.

Bybit is a highly-recommended cryptocurrency exchange that was founded in 2018 in Dubai, United Arab Emirates. Among the most promising crypto platforms today, its services and tools suite keeps expanding to provide 1.6 million users with a variety of trading options. Bybit is also a good choice for investors who want an intuitive mobile app.

Launched in 2017, KuCoin is a cryptocurrency exchange based in Seychelles. It’s one of the biggest global exchanges with over 700 coins, 20 million users, and a presence in 200 countries. Members can perform basic to advanced trading on the platform and get lower trading fees compared to most other competitor sites.

As the biggest US-based exchange, Coinbase offers a smorgasbord for both beginners and advanced traders. Trading is easy, and your digital assets are securely stored offline. Considering its size, it’s no surprise that you can find all the popular digital currencies on this platform and plenty of trading options and strategies.

The Main Types of Crypto Exchanges

Centralized Exchanges

A Centralized cryptocurrency exchange (CEX) functions like a normal stock trading platform. You put in an order to “sell,” and the exchange finds a user looking to buy and handles the transaction. 

CEX is easy to use, and some provide insurance against funds stolen from the exchange. Most CEX platforms also offer fiat-to-crypto exchanges, liquidity of funds, and customer support. The downside includes transaction fees and vulnerability to cyber threats.

Decentralized Exchanges

A decentralized cryptocurrency exchange (DEX) isn’t controlled by anyone. Instead, trades are executed automatically on the blockchain via smart contracts. DEX platforms don’t act as a middleman, making them more attractive to traders who prefer person-to-person trades.

DEX exchanges tend to have lower fees than CEX platforms–as well as better security and privacy. However, it can be difficult for beginners to navigate, there’s less liquidity than CEX, fiat-to-crypto exchanges aren’t accepted, and customer support is lacking.

Hybrid Crypto Exchanges

A hybrid crypto exchange (HEX) combines the best of CEX and DEX. In most instances, users can look forward to the anonymity and security of DEX and the customer services and regulation of CEX.

The benefits of HEX exchanges include fiat-to-crypto exchanges, better customer support, and user’s control their own funds. On the flip side, hybrid crypto exchanges often have fewer features and choices compared to CEXs and DEXs, and most are not beginner-friendly. 

Peer-to-peer (P2P) Cryptocurrency exchanges are another example of hybrid crypto exchanges. Users can buy and sell cryptocurrencies from other users, but the exchange itself is centralized and acts as an intermediary. Some of the best P2P cryptocurrency exchanges include OKX, Binance, and KuCoin.

Common Crypto Exchange Fees To Understand

Trading fees

Cryptocurrency exchanges need to make money, and most accomplish this by taking a percentage from common transactions like trading, deposits, loans, and liquidations. Charges can range between 0% and 1.5% per trade.

Withdrawal fees

Most big exchanges will charge a fee when you withdraw crypto. The amount depends on the platform and the type of crypto you’re withdrawing. Some less valuable coins are free to withdraw, even on sites that charge withdrawal fees. You can also consider zero-fee exchanges like Gemini, Kraken, and FTX. 

Gas fees 

Gas fees are primarily native to the Ethereum blockchain. There are a lot of Ethereum-related cryptos and services, so most investors incur gas fees sooner or later. But what is it? Think of how gas makes a car run. Similarly, users pay gas fees to support Ethereum’s blockchain, which requires massive computing power and energy to keep going. 

The article breaks down and compares different cryptocurrency exchanges for most purposes. However, it is also a good idea to choose a cryptocurrency exchange based on the type of trades you are looking to make.

• Cryptocurrency exchange for Beginners: If you’re just starting out, you might want to go with an exchange that is easy to use and has a solid support above everything else.
• Cheap crypto exchange: Different exchanges have different fee structures. If you’re making large trades, you might want to optimise it by trading on low-fee cryptocurrency exchanges.
• Crypto exchange for day trading: If you’re a day trader, you need to look for exchanges that offer good volume, volatility, and low fees.
• Crypto futures trading platforms: Most popular exchanges offer futures trading. But only some exchanges offer a wide variety of cryptocurrencies to trade from, with high leverage.
• Crypto trading brokers: Some traders might prefer trading on a broker instead of an exchange.