Despite the market sending mixed signals for crypto traders, it is safe to say that volatility is back on the market. As such, this is the right moment to check out the best crypto exchanges for trading — a cornerstone element of the global crypto ecosystem.

In this guide, we are going to indicate the most popular crypto exchanges and share some tips on how to choose the best crypto platform in 2024.

Best crypto exchanges in 2024: Highlights

In 2024, there are a plethora of cryptocurrency exchanges available for traders with different backgrounds, deposit sizes, trading styles and so on.

• A cryptocurrency exchange should be referred to as a class of software services (platforms) specially designed for conversion between various digital currencies.
• Choosing the best cryptocurrency exchange requires checking security, stability, range of cryptos available, clear UX/UI and the scope of additional instruments.
• Based on the level of control possessed by the administration of the service, there are centralized and decentralized exchanges.
• Some exchanges only support a single blockchain (typically, Bitcoin or Ethereum) while other services work with different networks.
• Also, there is a class of exchanges that support conversion between cryptocurrency and fiat assets (USD or EUR).

As of 2024, Binance, Coinbase, OKX, and Kraken are typically listed among the top cryptocurrency exchanges.

Top crypto exchanges: List

Based on a variety of parameters, there is a list of the best cryptocurrency exchanges for trading and liquidity management (in no particular order):

1. Binance
2. Coinbase
3. Kraken
4. BYDFi
5. CoinEx
6. PrimeXBT
7. StealthEX
8. BTSE
9. Independent Reserve 
10. Bitstamp 
11. Bitfinex
12. Gemini

In the following guide, we are going to focus on their specifications, pros and cons and the opportunities these platforms unlock.

What is cryptocurrency exchange?

A cryptocurrency exchange (crypto exchange, crypto trading platform) is an online service where users can buy and sell various digital assets (cryptocurrencies). These exchanges operate not unlike stocks, index, or ForEx markets but deal exclusively in digital currencies.

Exchanges typically offer various tools for market analysis, trading and secure storage of assets. In practice, crypto exchanges are often used as crypto wallets for only storing, receiving and transferring cryptocurrency with no conversion operations.

They play a crucial role in the cryptocurrency ecosystem by providing trading opportunities, enabling price discovery and facilitating the broader adoption of digital currencies among new generations of internet users.

How to choose best crypto exchange?

As per the CoinMarketCap tracker, there are thousands of cryptocurrency exchanges operating in 2024. Due to this fact, choosing the right one might be challenging for newcomers.

• Security first. Check out the list of security measures: The best exchanges offer 2FA, backup keys and so on.
• First understanding, then trading. Only choose services you fully understand in terms of UX/UI clearness.
• Reputation is essential. Prior to starting to use this or that exchange, it is better to read some articles about its background, accidents, hacks and so on.
• Simple platform, many opportunities. Modern crypto platforms should have all the functions you need within a single interface to remove the necessity to switch between accounts and platforms.

As such, the platform should be secure, user-friendly, multi-product, and has to demonstrate stellar reputation in order to become part of the top crypto exchanges list.

Crypto exchanges: Main types

Here is the simplest classification of cryptocurrency exchanges you need to find the one that suits you best:

Centralized/decentralized

On decentralized crypto exchanges, you are the one responsible for the keys from your account, while centralized platforms manage the keypairs themselves: You just log in via familiar tools.

Single-blockchain/many-blockchain

Some exchanges only work with tokens issued on one blockchain, i.e., Bitcoin or Ethereum (for ERC-20 tokens), while the rest of crypto services work with a variety of blockchains.

Crypto-to-crypto/crypto-to-fiat

Then, some exchanges accept fiat currencies from cards and bank accounts, while others only work with crypto: To top up your account, you already need to get some crypto from a third-party platform.

The vast majority of the largest crypto exchanges in the cryptocurrency world are centralized, many-blockchain, crypto-to-fiat platforms.

Top crypto exchanges for 2024: Brief review

Now we are ready to proceed to the guide of the most popular crypto exchanges in 2024. The overview will focus on history, specifications and the main opportunities offered by the platforms.

Binance

Website: https://www.binance.com/ 

Binance is an undisputed leader in the global cryptocurrency segment. It is the largest cryptocurrency exchange by trading volume in the world. Binance features spot trading, futures trading modules with COIN-M and USD-M contracts, a peer-to-peer trading module, trading bots and API tooling.

Besides trading instruments, Binance offers a launchpad for new coins, an NFT marketplace, staking and earning modules as well as a crypto-to-fiat gateway with all major currencies of the world. Crypto exchange Binance is the backbone element of a broader crypto ecosystem that includes its own blockchain BNB Smart Chain, core native cryptocurrency Binance Coin (BNB), a research unit, a blog platform Binance Square and so on.

Launched in July 2017, Binance became the world’s most popular exchange 180 days after launch. Changpeng “CZ” Zhao, a prominent cryptocurrency entrepreneur, was the first CEO of Binance. Amid a legal scandal, CZ stepped down to appoint Richard Teng, former Singapore Exchange and ADGM head, as the new Binance CEO in November 2023.

Coinbase

Website: https://www.coinbase.com/ 

Launched in June 2012 by Brian Armstrong and Fred Ehrsam, Coinbase is one of the longest-running cryptocurrency exchanges in the world. Particularly, it is popular and influential in the United States, the most crypto-savvy nation state. Coinbase was also the first crypto service in the world to go public: It released COIN stock on the Nasdaq exchange in mid-April 2021.

Not unlike Binance, Coinbase supports spot and futures crypto trading with hundreds of cryptocurrencies, offers native earning modules and connects crypto owners to staking facilities. Coinbase has its own Web3 marketplace, facilitates the trading of ENS, Ethereum-based tokenized domain names, crypto cards, a “Buy Crypto” fiat-powered function and so on.

Instead of launching the L1 blockchain, Coinbase incubated Base, an Optimism-like high-performance Ethereum L2. For institutional and other sophisticated clients, Coinbase offers specific services like Coinbase One, Coinbase Private and so on. Being centralized exchanges, both Binance and Coinbase have Web3 wallets, decentralized crypto storage and trading tools.

Kraken

Website: https://www.kraken.com/ 

Kraken, the longest-standing mainstream cryptocurrency exchange, was launched in 2013 by Jesse Powell. In its first releases, the exchange offered trading Bitcoin (BTC) and Litecoin (LTC); Kraken also pioneered using Euro in cryptocurrency trading.

Kraken offers a holistic cryptocurrency ecosystem suitable for both seasoned traders and newcomers. Spot and margin trading is available on Kraken together with an NFT marketplace and a seamless crypto earning module. The company delivers its services to 10 million users in 190 countries and regions across the globe.

Besides the web interface, Kraken released a number of mobile applications. Also, most recently, it created a one-stop Web3 wallet promoted as a “crypto passport” for using it in decentralized applications of various types.

Kraken's earning module offers up to 13% APY on mainstream altcoins. For sophisticated traders, it also offers 5x margin positions, multi-collateral futures contracts and different forms of advanced orders.

BYDFi 

Website: https://www.bydfi.com/ 

BYDFi was established in 2020 and introduced its current name after a profound rebranding in 2023. BYDFi stands for “BUIDL Your Dream Finance” and reflects the company’s dedication to offering a one-stop trading platform for every individual investor.

In 2024, BYDFi is running a full range of modern trading products, including spot and derivatives trading pairs. Its services target both newcomers and pros in cryptocurrency. For instance, its “Trade” module works with both Spot pairs and one-click “Convert” functionality. That said, even users with no previous trading experience can start their journey with digital assets.

BYDFi’s “Buy Crypto” menu offers secure and frictionless instruments for crypto purchasing with both fiat and other crypto currencies. Also, BYDFi supports a native peer-to-peer trading platform (BYDFi P2P) designed for zero-fee P2P operations directly between platform users.

BYDFi Derivatives section invites crypto traders to try USDT-M and COIN-M futures contracts. It also supports leveraged tokens; unlike familiar derivative contracts, they allow traders to try leveraged positions without the risk of liquidations. As of Q3, 2024, BYDFi supports 3x short and long leveraged tokens based on Bitcoin (BTC) and Ethereum (ETH) prices. For instance, ETH3LUSDT token works not unlike the ETH-USDT long position with 3x margin leverage.

To allow new customers to upgrade their understanding of markets in a risk-free environment, BYDFi has a demo mode for the derivatives module and trading bots toolkit. The platform is running various permanent promo actions for newcomers, including a generous Welcome Bonus promo with USDT rewards.

For cryptocurrency influencers and social media enthusiasts, BYDFi launched the Global Partner traffic monetization program. Other content creators can join the BYDFi Army to obtain rewards to spread the word about the platform’s opportunities, conditions and offerings. BYDFi’s market data is fueled by Chainlink’s oracles to ensure maximum price accuracy for every trade.

CoinEx

Website: https://www.coinex.com/ 

Introduced in 2017, CoinEx is a global cryptocurrency exchange that supports over 1,700 trading pairs with 1,200 cryptocurrencies. CoinEx offers its customers an outstanding range of services, including spot and margin trading, futures, swaps, automated market maker (AMM) and financial management tooling for over five million users across 200+ countries and regions.

CoinEx describes itself as a relatively low-profile company with a solid foundation and steady growth:

We adhere to the philosophy of "User First," offering "good, fast, and comprehensive" listings and a simple, user-friendly operation. Our goal is clear—to create a reliable and professional cryptocurrency trading platform. The "User First" philosophy guides every decision, innovation, and action we take.

To meet the requirements of modern traders, CoinEx supports a flexible listing policy. Its suite of assets listed includes native assets of Ethereum’s L2s, modular and parallel EVM blockchains, Solana (SOL) ecosystem, AI and DePIN tokens, as well as trending meme coins.

In 2018, the platform released CET, a core utility and ecosystem cryptocurrency token of CoinEx. In 2019, CoinEx Smart Chain (CSC), a high-performance EVM-compatible layer-1 blockchain with smart contracts, kicked off.

CoinEx expands the CoinEx ecosystem, introducing CoinEx Charity, CoinEx Wallet and the CoinEx Block Explorer. By July 2024, the team had destroyed over seven billion CET tokens, reducing the circulating supply to below 2.7 billion making the asset naturally scarcer. 

Besides offering reliable and fast trading services for spot and futures pairs on Bitcoin (BTC), altcoins and stablecoins, CoinEx actively explored and innovated in areas such as blockchain technology, decentralized finance (DeFi) and non-fungible tokens (NFTs), launching multiple innovative projects and solutions. Namely, CoinEx was the first to introduce sophisticated trading products based on the AMM (Automated Market Maker) mechanism, improving the user trading experience and market liquidity.

PrimeXBT 

Website: https://primexbt.com/ 

Released in 2018, PrimeXBT is a veteran platform for trading cryptocurrency CFDs (contracts for difference). Unlike the majority of its competitors, PrimeXBT offers thousands of trading pairs in Crypto Futures, Forex, Commodities, Indexes and Crypto CFD sections to give its customers exposure to Gold, Bitcoin, S&P 500 and USD/EUR futures within a single interface.

PrimeXBT’s cryptocurrency futures trading toolkit is one of the most easy-to-understand in the entire segment. On the platform, both Bitcoin (BTC) and altcoins contracts are available with a 0.01% maker fee and 0.02% taker fee.

On the futures dashboard, 31 assets are available: the earliest blockchain assets, Bitcoin (BTC), Litecoin (LTC) and Dogecoin (DOGE), large-cap altcoin giants Solana (SOL), Cardano (ADA), Chainlink (LINK), GameFi tokens The Sandbox (SAND) and Axie Infinity (AXS), and so on.

For experienced traders, PrimeXBT also offers adjustable leverage, a proprietary orderbook, isolated margin and seamless TradingView chart integration. By working with the top market makers, PrimeXBT offers the deepest possible liquidity for minimum slippage. The service implemented a negligible minimum deposit of $1 to prevent the platform from being spammed with a zero deposit fee.

While futures trading remains the top focus of PrimeXBT, it released a number of modules to meet the requirements of all categories of traders. For instance, to optimize the trading experience for newcomers, PrimeXBT created a demo trading dashboard. The “Buy Crypto” instrument  offers every trader the chance to purchase digital assets with fiat money in a frictionless manner. Its copy trading and investment dashboard unlock unparalleled automated investing opportunities for crypto owners with various deposits and different levels of understanding of the crypto segment. PrimeXBT guarantees 24/7 online support that speaks all languages supported on the platform.

StealthEX 

Website: https://stealthex.io/

Introduced in 2022, cryptocurrency exchange StealthEX prioritizes a newbie-friendly interface, fast crypto conversion with no KYC and does not require its clients to set up accounts. The exchange supports two modes, “Buy” and “Exchange.”

In “Buy” mode, StealthEX offers a seamless opportunity to purchase cryptocurrency with fiat money. In terms of both digital and fiat currencies, StealthEX supports an unmatched number of assets. As a result, it offers operations in 1,400+ pairs. For instance, StealthEX not only offers conversions with EUR, USD and GBP but also features dozens of major currencies of various regions of the globe, from Thai Bhats to South African Rands and Kazakhstani Tenges.

StealthEX allows its customers to exchange multiple cryptos: Bitcoin (BTC) and altcoins, DeFi tokens like UNI, AAVE, and SNX, mainstream L2 tokens ARB and OP, veteran cryptocurrencies ADA, TRX, XMR, early Bitcoin (BTC) forks BCH and BSV. Also, StealthEX is among the few exchanges that support Bitcoin (BTC) transfers via Lightning Network, the oldest battle-tested solution for Bitcoin (BTC) scaling. Thanks to Lightning Network (LN), Bitcoin (BTC) transfers are processed faster and cheaper compared to “regular” L1 transactions.

Its 100% noncustodial design is a killer feature of StealthEX: the platform never stores money, sensitive data, crypto or the private keys of its customers. On StealthEX, clients just input the public address of the wallet they would like to use to claim “target” tokens. Thus, the exchange never puts clients’ funds at risk.

For its partners, StealthEX offers a feature-rich toolkit of affiliate opportunities and B2B instruments. Via a modern API gateway, clients can integrate StealthEX functionalities into their own websites in the form of an exchange widget, button and banner. Also, with its evergreen affiliate program, users can claim affiliate links and benefit from every transaction completed by their referrals on StealthEX. The platform’s public API makes it accessible in every web application.

BTSE

Website: https://www.btse.com/ 

Established in 2018 by Jonathan Leong, BTSE is an ecosystem of blockchain solution platforms. As of 2024, BTSE exchange supports 150+ cryptocurrencies and 50+ perpetual futures contracts. BTSE has accomplished over $30 billion in monthly trading volume.

Its modern payments platform can provide fiat and crypto pay-ins and outs, as well as OTC services for over 50 major currencies. Additionally, BTSE enterprise solutions enable businesses to white label our exchange infrastructure, wallets, payment gateways, provide liquidity and more.

Besides a n easy-to-navigate trading module for spot and derivative assets, Its B2C product stack boasts staking and earn products, an ecosystem of automated trading bots and other perks for passive and semi-passive income.

BTSE is among the pioneers of the crypto credit card segment. It released global crypto cards for the Visa and Mastercard networks. Its powerful fiat-to-crypto conversion module supports one-click exchange between 30+ cryptocurrencies and almost all global fiat currencies.

BTSE’s B2B offering is laser-focused on offering white-label solutions for businesses in Asia and Europe. For instance, white label crypto exchanges can be launched with BTSE tech under the hood. 

White label wallets and payment gateways licensed by BTSE can easily advance the process of accepting crypto for the e-commerce segment and digital merchants.

BTSE-fueled white label trading bots can help trading firms and communities to automate their strategies and remove the human factor. Trading bots on BTSE tech allow users to generate income during cryptocurrency price volatility moves in both directions. Last but not least, white label crypto cards from BTSE are designed to help entrepreneurs to advance their loyalty programs; neobanks can also integrate the technology to reach a wider audience.

Based on the latest reviews and constant automated tracking by CoinGecko, the largest independent cryptocurrency analytics website, BTSE is among the top 25 exchanges in futures platforms category by aggregated trading volume.

Independent Reserve

Website: https://www.independentreserve.com/ 

Founded in Sydney, Australia in 2013, Independent Reserve is one of the oldest cryptocurrency exchanges in the entire segment. Moreover, it was the first crypto exchange to receive a license in Singapore.

Known as “the trusted cryptocurrency exchange,” Independent Reserve delivers its services to plenty of account types, including institutional investors, trusts, self-managed super funds (alternative of retirement accounts in Australia) and, of course, individual accounts. It is well-suited to sophisticated and professional traders, offering a multi-currency order book, advanced order types, API access and an OTC trading desk, as well as other integrations.

Uniquely, it also provides tiered multi-user access, allowing clients to assign sub-users to their accounts. This is particularly useful for businesses that require their accountants, finance team or other stakeholders to have access. While predominantly servicing the Australian, Singapore and New Zealand markets, Independent Reserve allows clients from over 30 countries to register.

Besides a regular trading module with orderbooks, Independent Reserve created a one-click “Buy/Sell Crypto” dashboard for major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and XRP, as well as USDT and USDC stablecoins.

Independent Reserve platform boasts feature-rich crypto-to-fiat conversion tooling: it supports Visa cards and bank transfers as well as seamless integrations with PayPal and SWIFT infrastructure. The tech design, security surface and financial reserves of the platform are fully audited in accordance with Australian Accounting Standards. Besides stringent internal security measures, the platform underwent ISO 27001, a globally recognized security management certification procedure.

As the exchange is focused on maximum compliance with effective regulatory frameworks, it integrated an easy-to-understand tax estimation tool by KPMG, a global auditing heavyweight. The exchange instruments are both available within the web interface and mobile application for smartphone.

All deposit and withdrawal operations on Independent Reserve are charged with zero fees, while trading commissions start at as low as 0.02%. 

Bitstamp

Website: https://www.bitstamp.net/

Launched publicly in 2011, Bitstamp is one of the oldest European cryptocurrency exchanges. Nejc Kodrič, a prominent Bitcoin (BTC) enthusiast, engineer and entrepreneur, cofounded the company with Damijan Merlak in his native Slovenia but later moved its registration to the U.K. in April 2013, then to Luxembourg in 2016.

Currently, Bitstamp is offering an ecosystem of B2C services, including staking and earning tooling, a lending module as well as an “Institutions” protocol for sophisticated clients. Also, its “Buy Crypto” services accept a variety of fiat-centric payment methods. Seven times in a row, Bitstamp was awarded the status of best exchange globally, which is the best designation in the segment.

In May 2023, U.S. fintech decacorn Ripple acquired a stake in Bitstamp for an undisclosed amount while, in June 2024, Robinhood acquired Bitstamp for $200 million. The companies will finalize the process of acquisition by 2025.

Bitfinex

Website: https://www.bitfinex.com/ 

One of the longest-standing crypto exchanges, Bitfinex was launched in December 2012. It is linked to Tether Limited, an issuer of major stablecoins, including U.S. Dollar Tether (USDT). The exchange is well known for its deep liquidity. Bitfinex offers a native lending module, a P2P deals platform and an institutional service.

Gemini

Website: https://www.gemini.com/ 

Cryptocurrency exchange Gemini went live in October 2015. The service was launched by Tyler and Cameron Winklevoss, prominent U.S. investors. The exchange is laser-focused on security, being almost the only crypto service with ISO 27001 and SOC 2 Type 2 certificates. The exchange offers 70+ cryptocurrency coins, facilitates institutional services, custody and so on.

Best crypto exchanges: Quick facts

Let’s summarize what we know about the most popular cryptocurrency exchanges across the globe and their key metrics.

All these cryptocurrency  exchanges offer feature-rich toolkits and premium-level support for clients globally.

Wrapping up

A cryptocurrency exchange is a software service designed for conversion operations between various crypto assets. Some of them might also support buying crypto with fiat (regular) currencies.

A modern crypto exchange includes spot and futures trading dashboards, an earning module, an OTC desk, a staking segment, an NFT launchpad, its own crypto card and often a native cryptocurrency token.

Binance, Coinbase, OKX, and Kraken are reputable examples of centralized cryptocurrency exchanges in 2024.