Best Crypto Trading Platforms in 2024

The world of cryptocurrency continues to evolve rapidly. And if you want to get involved in this fast-paced industry in 2024, picking the best crypto trading platform is extremely crucial. But what factors contribute to a good crypto exchange exactly? The best trade platform for cryptocurrency provides low fees for both trades and withdrawals. Also, it should have an easy-to-use interface and excellent security measures.

However, with so many crypto exchanges, picking the best fit can also be challenging. Isn’t it? But don’t worry! This article will save you a lot of time. We are going to deeply analyze top crypto exchanges based on security, features, fees, and the number of supported cryptocurrencies. So, let’s dive in.

List of Top 5 Crypto Trading Platforms

What to Look for in a Crypto Trading Platform

Before choosing the best crypto trading platform, there are a few things to keep in mind. Every exchange has its own unique features. So deciding which crypto trading platform to use depends on a good combination of features, as outlined below.

1. Security

Security is the biggest factor to consider when choosing the best trade platform for cryptocurrency. Last year, a whopping $1.7 billion was stolen from crypto platforms. This proves you shouldn’t ignore security, especially in 2024. 

Ensure the platform you’re using has robust security measures like two-factor authentication (2FA). Further, it should also have cold storage. This basically keeps your crypto assets offline so they can’t be hacked. 

The platform also uses good encryption to protect your info. Additionally, the exchange complies with relevant regulatory standards, so you don’t have to worry about scams or legal issues.

2. User Experience

User experience is another important factor to consider. Because let’s be honest, you don’t want to get overwhelmed by too many charts and graphs. A crypto exchange with an intuitive interface can drastically improve your trading experience. Make sure your chosen exchange has an easy-to-navigate interface with search bars, dropdown menus, and customizable panels. 

Also the best crypto trading platform has a responsive design and a fast loading speed. Because in the crypto world delays could result in losses. Additionally, check that the exchange has a mobile app that gives you real-time updates and lets you trade on the go.

3. Fees and Costs

High fees and costs can eat up your profits. That’s why understanding an exchange’s fee structure is crucial if you want to maximize your returns. Crypto exchanges usually charge for every transaction, divided into maker and taker fees based on the amount of the trade. 

On top of that there are withdrawal charges, deposit fees, network fees, and sometimes even inactivity fees. So while choosing the best crypto trading platform, compare the fees of different exchanges to figure out which one fits your budget and trading style. Also watch out for hidden fees that may lead to low returns.

4. Supported Cryptocurrencies

According to CoinGecko there are over 15K+ cryptocurrencies. But not every exchange offers them all. So, it’s important to check whether the exchange has your desired cryptocurrency or not. 

A good crypto exchange should provide you with a wide range of crypto investments to help you mitigate market risks and maximize profits. There are tons of exchanges that offer popular cryptos like Bitcoin (BTC), Ethereum (ETH), and other major altcoins. 

5. Customer Support

If you are just starting out as a crypto trader or run into a technical error, you might need assistance. In that case, you need reliable customer service. 

Make sure the exchange you chose offers 24-hour live chat. Because no one wants to spend a lot of time reading FAQs to find help. Additionally the exchange should also provide support via email or phone.

Top 5 Crypto Trading Platforms in 2024

Here are the top five crypto trading platforms that you should consider in 2024.

1. Binance

Binance currently supports 430+ cryptocurrencies and is currently ranked #1 on CoinMarketCap in terms of 24-hour trading volume, which is over $31 billion. Binance debuted in 2017 when cryptocurrencies were booming. 

Founded by Changpeng Zhao (aka CZ), it was initially a crypto-to-crypto exchange. But now it has evolved into a diversified platform that offers a Decentralized Exchange (DEX), a peer-to-peer lending platform, and much more.

Features

Binance has a wide selection of trading options. One of them is “Spot Trading” where you can easily trade cryptocurrencies directly on the Binance platform at the current market price. “Margin trading” is also available for selected trading pairs, giving users up to 10x leverage on some coins. 

Further Binance offers a “Staking Service”. This allows you to earn rewards on proof-of-stake and Decentralized Finance (DeFi) coins without having to learn the technical details of staking.

User Experience

Binance has an intuitive user interface and a rich set of charts for beginners and pros alike. 

It comes with a “Convert” option, which enables you to simply choose your cryptocurrency and execute the trade without having to deal with charts or order books.

But if you’re an experienced user, the “Classic” trading platform is the best choice. You might find the trading interface confusing at first! You can see all charts, order books (with buy and sell orders) and your trade history all in one place. Binance has tutorials and guides to help you get familiar with its interfaces.

Security Measures

Binance has a bunch of security options, including two-factor authentication (2FA) via Google Authenticator app or SMS. This second verification prevents anyone from accessing your account even if they have your password. It also supports address whitelisting, device management, and access restriction for additional security. 

According to Certified, which rates exchanges based on their security, Binance is 5th, demonstrating its commitment to security.

Fees

Binance unarguably offers the lowest fees in the industry. It employs a maker/taker fee structure with a 0.10% trading fee and a 0.50% buy/sell fee. The actual fee amount depends on the trade. Further, it has a nine-tier VIP system that gives BNB holders discounts on trading fees. So the more BNB tokens you hold, the more discounts you’ll receive.

Pros

• Supports more than 430 cryptocurrencies.
• Highest trading volume.
• Intuitive user interface for both novices and experts.
• Lowest trading fees.
• Binance Referral ID Signup Bonus

Cons

• Suffered from a major cyberattack in 2019.

2. Coinbase 

Coinbase ranks among the best crypto trading platform based on trading volume, with more than 100 countries supported and 250+ cryptocurrencies available. The company was founded by Brian Armstrong, a former Airbnb engineer, and Fred Ehrsam, a former Goldman Sachs trader. 

The platform boasts an easy-to-use interface with earning and staking options. It also features a unique “learn and earn” feature where users can earn crypto assets for watching videos and answering questions.

Features

Coinbase offers several unique features that make it stand out from the crowd. Coinbase has an in-exchange NFT marketplace where you can trade, create, or collect original digital collectibles. 

It also offers a lucrative staking program with passive income opportunities and even a Web3 portal with infinite possibilities. It has everything from lending apps to cryptocurrency swaps to social apps.

User Experience

The main advantage of Coinbase is its simple layout. So anyone, regardless of their crypto knowledge, can navigate and trade their cryptocurrencies. For new users, it simplifies the process of buying, selling, and managing cryptocurrencies.

For advanced users, Coinbase Advanced Trade has advanced charting capabilities and users can place market and limit orders as well as execute crypto-to-crypto transactions. The dropdown lets you switch between the two modes effortlessly.

Security Measures

Coinbase keeps your account safe using a variety of methods. Among these security features is the mandatory 2-factor authentication (2FA) system. Also, there’s password protection and multi-approval withdrawals via Coinbase Vault. 

To keep customer assets even more secure, the exchange uses two important security measures that are cold storage and Multiparty Computation (MPC). These extra layers of security make it harder for intruders to get in.

Fees

Compared to other exchanges, Coinbase has a higher fee structure. It charges 0.4% for the maker and 0.6% for taker fees on its Coinbase Advanced platform. It’s also important to note that fees can vary widely based on volume.

The basic Coinbase version comes with a high fee too. There are flat fees based on the amount of the transaction. Transactions up to $10 cost $0.99. Anything between $10 and $25 costs $1.49. Transactions ranging from $25 to $50 cost $1.99. Any transaction over $50 costs $2.99.

Pros

• Super simple user interface.
• Extensive crypto range.
• Own NFT marketplace.
• Passive income opportunities.

Cons

• Relatively high transaction fees.

3. Bybit

Bybit is regarded as the best crypto trading platform that offers spot and derivative trading. Founded in 2018, it is the brainchild of Ben Zhou, who has 8 years of experience in the forex market. The platform has over 10 million users and is growing fast. That’s a pretty impressive number considering Bybit has only been around for a short time. 

The Bybit ecosystem has evolved significantly since 2018. Still, User-friendliness, Innovation, and Reliability have been the focus from the beginning.

Features

Bybit supports all kinds of trading options, so you can choose what suits you best. You can find spot trading across 1,400 supported cryptocurrencies. But the platform is best known for its robust derivatives platform, which supports future trading with up to 200x leverage. Further there is the copy trading option that lets you copy the experts’ strategies and make money. And you can automate trades with trading bots as well.

Other features include a vibrant NFT marketplace. A VIP program with special benefits like reduced trading fees, priority customer service, and high-yield earning opportunities. Bybit Card that is powered by Mastercard and has lots of other cool features.

User Experience

The Bybit interface appears to be more user-friendly than most other crypto exchanges at first glance. In fact there’s a lot of inspiration from the Binance interface. Whether you’re a cryptocurrency trader or expanding your investment portfolio, its powerful charting tools and seamless mobile platform make it a great choice. Bybit also allows you to switch between advanced and basic dashboard layouts to suit your taste.

Security Measures

Bybit provides its users with an innovative approach to security. With its dual wallet system, Bybit secures its users’ funds. Instead of using ‘hot wallets’, like many exchanges, it has adopted ‘cold wallets’. These are built with robust security features and measures. Cold wallet addresses are used for all deposits.

The exchange also has two-factor authentication. The user needs to scan the QR code, and a random six-digit 2FA code pops up in the Google Authenticator app. 

Fees

Bybit has a tier-based maker/taker fee structure, allowing VIP users to trade at a reduced fee. It’s based on their asset balance or 30-day trading volume. For spot trading Bybit features competitive fees, with makers and takers both starting at $0.1%. But if you’re a VIP 5 user you can enjoy 0.05% for takers and 0.04% for makers.

Bybit also has tiered fees for futures and perpetual contracts, with the taker fee starting at 0.055% and the maker fee at 0.02%. With the highest VIP level, you’ll get taker fees to 0.03% and maker fees down to 0%. Pretty impressive right?

Pros

• Top class trading features.
• Broad range of cryptos.
• Low fees.
• Robust security measures.

Cons

• Can be a little challenging to learn.

4. KuCoin

KuCoin is another best crypto trading platform that offers a wide range of decentralized securities, advanced trading strategies, and multiple ways to earn money. Trading bots and futures markets are some of its advanced trading features. Moreover, the platform offers access to more than 840 cryptocurrencies in more than 200 countries.

Features

KuCoin offers a lot of advanced features that are primarily used by professionals. You will find margin trading that gives you the ability to leverage your position by borrowing money to buy more cryptocurrencies. 

KuCoin supports trading bots through its mobile app. By using a trading bot, you can automatically buy and sell cryptocurrencies without having to be online constantly. However, sometimes they get glitchy. 

Apart from this KuCoin also offers the option to earn interest by staking coins through Pool-X or lending crypto for interest. You can get interest averaging between 8-12 percent compared to standard banks.

User Experience

As said earlier KuCoin offers great value for advanced traders. It offers fully customized trading interfaces with trading charts and charting tools from TradingView. It also categorizes tokens intelligently to help users find what they’re looking for. KuCoin does support a feature-rich mobile app that lets traders trade anytime, anywhere. It also has several bots that can be used across Spot, Futures, Margin, and Leverage markets.

Security Measures

As for overall security, the KuCoin exchange carries out regular third-party audits to ensure the safety of its customers’ reserves. Further, the assets are stored in a mix of cold, warm, and hot wallets protected with multi-signature technology. The KuCoin team monitors wallet addresses 24/7 and sets up alerts for suspicious behavior.

The exchange also supports Google Authenticator for security. Whenever you log in or make a trade on KuCoin, you will be required to enter a code from your mobile phone. 

Fees

KuCoin is divided into three classes of cryptocurrency. Maker/taker fees decrease as you progress through each class. You can achieve this by accumulating KuCoin’s native token, KCS and paying with KCS will lower your fees even more. The fees on this platform are competitive with other platforms, especially for cryptos in Class A. 

• Class A coins, the most popular cryptos, have 0.1% maker/taker fees. 
• Class B cryptos, which are lesser-known, have maker/taker fees of 0.2% 0.2% maker/taker fees
• Class C, which are rare crypto assets, has 0.3% maker/taker fees

Further spot trading is charged at a flat rate of 0.1% per trade, with futures contracts charging between 0% and 0.03%.

Pros

• World class trading features.
• Broad range of cryptos.
• Earn interest on your crypto.
• High-quality security measures.

Cons

• U.S. investors get limited services.
• Not for beginners.

5. Kraken

Last but not least, we have Kraken on our list of best crypto trading platforms. Founded in 2011 by Jesse Powell and Thanh Luu, it is one of the oldest Bitcoin exchanges with 300+ different coins to trade, buy, sell, and buy. It supports 190+ countries and executes $207B+ of trades per quarter.

Features

Kraken aims to target both beginners and pros alike. The platform is user-friendly and geared towards beginners. In addition, there is Kraken Pro, which offers advanced margin and futures trading features. It also includes Kraken Learn, which offers extensive educational resources.  Then there is a robust mobile app that you can use to trade while you are on the move.

In terms of trading options Kraken offers plenty. It provides spot, margin, and futures trading, Over-the-Counter (OTC) services, staking options, and even an NFT marketplace for diverse crypto trading and investing.

User Experience

Kraken mainly has two interfaces depending on your experience level. The standard Kraken interface is perfect for beginners or people who like things simple. The user interface is intuitive and easy to use, so even newbies can use it. It also provides an easy way to buy, sell, and exchange cryptocurrencies. With no need for advanced trading tools, users can quickly see their balances, monitor market trends, and place trades.

But if you’re an experienced trader Kraken Pro is perfect for you. It is equipped with sophisticated tools such as detailed charting, a variety of order types (such as limit and stop-loss orders), and a market analysis tool.

The pro version also allows for a great deal of customization in terms of the trading dashboard. To perform in-depth market analysis, users can access historical data and use advanced charting functionality.

Security Measures

Kraken takes all the necessary security measures to keep its customers safe. 95% of deposits are kept in cold storage that is geographically distributed, air-gapped, and offline. Also, all sensitive info is securely encrypted on both systems and data. In addition, access is strictly controlled and monitored.

It also implements enhanced security features, like Global Security Lock and customizable API key permissions, to make sure traders’ assets are safe.

Fees

Similar to Bybit Kraken also employs a tiered fee structure. Maker Fees start at 0.16% and can drop to 0% for high volume traders. Further fees for takers begin at 0.26% but can go down to 0.1% for those who trade in larger volumes.

When using the Instant Buy/Sell feature, the displayed price includes fees, which can fluctuate depending on the payment method, market conditions, and order size.

Kraken Pro has a more competitive fee structure aimed at benefiting high-volume traders. At the entry-level (volumes less than $10,000 per month), the maker fee is 0.25% and the taker fee is 0.40%. For makers and takers with 30-day volumes over $10 million, fees drop to 0.00% and 0.10%, respectively.

Pros

• Caters to both beginners and pros.
• Wide variety of cryptos.
• Good educational resources.
• High-quality protection.
• Kraken Referral Signup Bonus

Cons

• Somewhat higher fees without Kraken Pro.

Pros and Cons of the Top Platforms

While some crypto exchanges look good in isolation, it’s important to compare them before you pick the best crypto trading platform. Even if one exchange beats another in one area, that doesn’t mean they’re the best all-around cryptocurrency exchange. 

Here’s a brief comparison of the top crypto exchanges so you can decide which is best for you.

Pros

Beginner Friendliness

Mostly beginners are entering the crypto space right now. But there’s also a lot of confusion, especially if these newbies stumble across platforms that aren’t so simple. 

The best crypto trading platform for them would be Kraken in this case due to its simplicity and lack of clutter in terms of features and buttons. Binance has a beginner-friendly layout, but sometimes it’s hard to use.

High Liquidity

Liquidity in a crypto exchange matters a lot since it ensures that users can buy and sell assets without experiencing significant price fluctuations. 

Right now Binance’s liquidity is the highest among all cryptocurrency exchanges. This makes it a great platform for both beginners and pros because it can handle large orders without causing price swings.

Cons

Get real-life feedback from users

User reviews and feedback also plays a big role in picking the best crypto trading platform. These insights give you a real-world view of the exchange’s performance. There are cases where an exchange advertises itself as the best, but in reality it doesn’t live up to expectations

For this go to Reddit, Discord, online forums, and Twitter. These are all good places to find unfiltered opinions and user experiences. See how people handle different matters and what they say about the exchange.

Conclusion – Which Platform is Best for You?

There you have it! This guide breaks down all the main things you need to consider when choosing the best crypto trading platform. All of the above are top-of-the-line and check all the boxes. But in the end don’t jump into the crypto market without doing a proper research since this market is extremely volatile. And picking the wrong crypto exchange can wipe out your account in an instant.

If you’re just starting out as a crypto trader consider Kraken since it doesn’t overwhelm you with too many graphs and charts. A runner up would be Coinbase, one of the top exchanges right now that also has an easy-to-use interface for beginners. 

For serious/pro traders KuCoin is the way to go. The platform allows you to customize and create complex charts and graphs to make your pro trading more effective. Kraken Pro is another option you might like.

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