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If you want to purchase cryptocurrency, you must register for an account on a cryptocurrency exchange. We identify the best cryptocurrency exchange for beginners and seasoned investors from the approximately 500 available exchanges.
Selecting the appropriate exchange can mean the gap between a wise investment and an expensive error in this quickly changing market. A solid platform should put security first, providing reliable protection to protect users' belongings and private data.
Are you looking for the best trading tools for cryptocurrency? In this article, we will discuss the top crypto liquidity providers platforms of 2024 and the characteristics and offerings that make them stand out from the competition.
Best Crypto Trading for Beginners
Our top choices for best crypto exchange platforms of 2024:
- Binance
- Coinbase
- OKX
- Kraken
- KuCoin
- Bitstamp
Binance – Best for Easy Swapping
Score: 9.9
Coins: 414
Transaction Fees: 0.0% - 0.1%
Deposit or Purchase Fees: $0
Avg Liquidity: 892
One of the biggest and most well-known cryptocurrency exchanges in the world is Binance. Established in 2017, the platform provides a wealth of options and services for both beginner and experienced traders. The cryptocurrency community holds Binance in high regard and believes it to be a reliable and secure platform.
A noteworthy characteristic of Binance is the extensive array of digital currency holdings it supports. The platform is providing trading for more than 350 cryptocurrencies. In addition, Binance is renowned for being the most liquid exchange and having the cheapest trading costs in the market.
Pros:
- Provides a number of statistical analysis and trading tools.
- Trading with as low as 0.000001 BTC is possible.
Cons:
- Several users have voiced concerns over Binance's lack of operational accessibility.
- The interface could be dominating or confusing for new users.
Coinbase – Best for Beginners With easy Interface
Score: 8.2
Coins: 251
Transaction Fees: 0.0% - 0.6%
Deposit or Purchase Fees: $2
Avg Liquidity: 777
Our selection of Coinbase as the top cryptocurrency exchange for beginners is based on its user-friendly design and wealth of educational resources covering topics ranging from web3 and public policy to blockchain technology.
Coinbase provides insurance coverage that protects custody accounts for up to $250,000, offers four different forms of two-factor verification, and lets users deposit their money in a vault with time-delayed withdrawals. For all of these reasons, even with its higher fees, Coinbase is ultimately worthwhile for beginners to try.
Pros:
- Provides advanced and user-friendly trading systems.
- A wide range of educational resources.
Cons:
- High costs in comparison to other famous exchanges.
- Absence of excellent customer support.
OKX – Best for Faster Exchange
Score: 7.8
Coins: 317
Transaction Fees: 0.0% - 0.8%
Deposit or Purchase Fees: $0
Avg Liquidity: 777
OKX is a great option for those seeking a sizable cryptocurrency exchange with a wide selection of trading tools and global reach. OKX is one of the world's largest and most popular cryptocurrency exchanges. It provides a large selection of cryptocurrency trading pairs, including BTC, ETH, and numerous others, as well as tools like contracts and margin trading.
OKX uses a multi-level verification system and modern encryption technology to guarantee maximum security. Furthermore, the exchange regularly works with authorities, which raises platform confidence.
Pros:
- Excellent security and adherence to legal regulations.
- Global reach and guidance for customers everywhere.
Cons:
- Because of its complex functions, the platform can be difficult to start using.
- There can be restrictions or boundaries on using the platform in some countries.
Kraken – Best for Low Fees
Score: 7.3
Coins: 323
Transaction Fees: 0.0% - 0.4%
Deposit or Purchase Fees: $1
Avg Liquidity: 781
Kraken's extensive trading tools, reasonable fee schedule, and strong security caused us to select it as the top cryptocurrency exchange for seasoned traders. Kraken offers a wide range of cryptocurrencies and about 100 crypto-to-crypto trading pairs. Additionally, Kraken Pro trading fees are among the lowest of any cryptocurrency exchange.
Kraken's adjustable interface is one of the main features that sets it apart from competitors. Users can select as many trade sections as they like from a long list, then resize, drag, drop, and organize them to make the structure they want. Another factor is the platform's cost schedule, which offers some of the minimum maker and taker rates.
Pros:
- Low costs and a large selection of crypto pairs
- Margin trading and crypto staking are available
Cons:
- It takes a small number of fiat currencies and has restricted funding choices.
- Verification and deposits may take some time.
KuCoin – Best for Future Trading
Score: 6.8
Coins: 813
Transaction Fees: 0.0% - 0.1%
Deposit or Purchase Fees: $0
Avg Liquidity: 604
KuCoin is a well-liked option for more seasoned traders because it provides several features for margin trading and technical analysis. It provides access to more than 700 cryptocurrencies, many of which are specialized and fairly recent coins not seen on other exchanges. Many traders find the platform affordable because it offers reasonable trading costs.
Another important feature is KuCoin's referral scheme, which enables users to receive benefits for introducing new members to the platform. This has helped KuCoin develop a strong and active user base.
Pros:
- Provides volume fee savings and reduced trading fees.
- Provides advanced services such as futures trading and margin trading.
Cons:
- The interface could be too complex or difficult for inexperienced traders.
- It is inaccessible because of rules and regulations in some countries.
Bitstamp – Best for Security Measures
Score: 6.5
Coins: 98
Transaction Fees: 0.0% - 0.4%
Deposit or Purchase Fees: $1
Avg Liquidity: 607
One of the oldest and most well-known exchanges in the business, Bitstamp is renowned for its dependability, security, and devotion to legal regulations. Because of it's extremely competitive maker/taker fees, reasonable funding fees, and robust cybersecurity, we selected it as the best cryptocurrency exchange for cheap fees.
Regardless of the volume of trades, the platform offers minimal fees to every trader. The organization feels cryptocurrency should be available to anyone to ensure leading industry security and ongoing visibility through internal and external audits.
Pros:
- You can withdraw your money in a day.
- Strong safety protocols, such as two-factor identification.
Cons:
- There are fewer trading possibilities than on other exchanges.
- There are fewer options for cryptocurrencies than for other exchanges.
How to Select the Best Crypto Exchange?
There are a few things to consider while selecting a cryptocurrency exchange that suits your requirements. The most crucial things to consider are:
Allowed Assets:
Before choosing an exchange, take a look at the list of allowed assets if you're trying to purchase cryptocurrencies other than Bitcoin. While some only let you trade a small number of cryptocurrencies, others let you trade hundreds.
Payment options:
Most cryptocurrency exchanges provide a few options for funding your account or purchasing directly. Although most exchanges support wire transfers, several platforms also let you purchase cryptocurrency with debit cards, credit cards, and other electronic payment methods.
Fees:
Before opening an account, learn about the costs associated with cryptocurrency exchanges. Excessive fees can reduce your investment results. Although trading and withdrawal fees are the usual charges cryptocurrency exchanges make, additional transaction costs may apply.
Security:
Sadly, hackers hoping to obtain cryptocurrency frequently target cryptocurrency exchanges. The world of cryptocurrency exchanges is filled with security and cyber theft mistakes, so picking an exchange with strong safety measures is crucial.
Fake Cryptocurrency Exchanges
Fake bitcoin exchanges pretend to be trustworthy marketplaces, but in reality, they are scams meant to steal consumers' money or personal data. In an effort to trick customers into believing they are reliable, these scam exchanges copy the design and operation of genuine exchanges.
Although their main objective is to deceive people, they frequently try to attract customers by promoting attractive characteristics like cheap trading fees or large investment returns.
List of Fake Crypto Exchanges
- Stunwill Ltd
- CryptoMiningMachines
- Poloina
- Good-bookingline
- Rudolf Stark Pro Station
- Trusted Stations
- PlusToken
- Bitcoin-win
- bitcoinfied
- legalcryptocoinstrade
- Spotalertweb
- QuadrigaCX
- Mantao Network
- Bytobit
- Thodex
- CryptoComSite
- Coinegg
Frequently Asked Questions
Q. What cryptocurrency exchange is No.1?
Binance exchange is the best cryptocurrency these days, with a score of 9.9.
Q. How can a novice begin investing in crypto?
Select an exchange or the best crypto brokers for cryptocurrency. Buy Bitcoin or other cryptocurrencies. Ensure your account is set up, add money to invest, and start your cryptocurrency transaction.
Q. Can you use crypto to earn $100 a day?
Yes, the best method for making $100 a day with Bitcoin is to invest about $1000 and watch for a 10% rise on a single pair.
