Best Place to Buy Crypto in 2024

In the last few weeks, the crypto market has seen some serious growth, shooting almost every coin to new all-time highs. However, if you want to take part and make some crazy gains, you have to pick the best place to buy crypto. However, as the market is growing at a rapid pace, crypto exchanges are also on the rise.

Some crypto exchanges focus on one feature but miss out on others. This can make deciding on the best place to trade crypto a serious headache! But don’t panic. In this article, we will compare some top exchanges on security, usability, fees, advanced trading options, and much more. So you can sort through the sea of crypto exchanges and find the best ones. So, let’s dive in.

Top Platforms to Buy and Trade Crypto in 2024

1. Coinbase

Coinbase has a stellar reputation in the U.S. as the best place to buy crypto among traders. Founded by co-founders Brian Armstrong and Fred Ehrsam, it is a pioneer in the cryptocurrency space and serves as a one-stop shop for various crypto products. Currently, on CoinMarketCap, it ranks 3rd as one of the most popular exchanges with a daily trading volume of over $6 billion. That’s wild, isn’t it?

Features

If we look at the supported assets, Coinbase gets a perfect score. According to Coingecko, It supports 243 crypto assets (including top coins like Bitcoin and Ethereum) and over 400 trading pairs. On top of that, the exchange boasts more than 100 million users in more than 100 different countries. 

Moving ahead to the trading experience, there are two main platforms – Original and Advanced. The original platform makes buying crypto easy with fiat currencies like USD. Plus, you get easy-to-understand line charts instead of candlestick charts. This means traders who aren’t tech savvy won’t feel overwhelmed by a bunch of information at once.

The advanced version caters to serious traders who can use TradingView indicators in their trades and automate trade execution with bots. This helps them be more efficient and accurate with their trading tactics. The cool thing is that it has a lot of trading instruments without any extra fees, and it’s cheaper too than the original.

Additionally, the exchange offers some unique features, like the Coinbase Wallet. It’s a standalone self-custody wallet that allows users of all levels to maintain complete control over their private keys. The best part is you can use it without a Coinbase account! Pretty neat, right? 

But if you have one, it gives you more functionality, like buying crypto through Coinbase and getting it deposited directly into your Coinbase account. It supports both a mobile version and a Chrome extension. However, supported blockchains vary by Coinbase wallet version. 

Coinbase offers plenty of educational resources for beginners. But the exchange takes learning to the next level with its Learn and Earn program. It is available to the Coinbase Earn users where they can consume free educational materials and get rewarded for learning about crypto. This not only makes Coinbase the best place to buy crypto for beginners, but also makes learning about crypto more enjoyable.

Coinbase charges standard network fees for fund transfers and withdrawals. But fiat withdrawal fees are a little tricky since they’re “dynamic” and depend on lots of factors. However you can deposit fiat currency for free. 

Security-wise, Coinbase shines bright by storing most funds offline. It also uses two-factor authentication (2FA), secure vaults, and pre-approved withdrawal addresses for more protection. It even goes further by scanning the dark web for breaches in order to safeguard users from online threats.

Pros

• Well-reputed crypto exchange.
• Wide range of supported cryptocurrencies.
• Provides self custody wallet.
• Plenty of educational resources coupled with an earning program.
• Robust security measures.

Cons

• Higher fees than other exchanges.
• Problems with customer support.

Ideal For

Ideal for all skill levels, with an intuitive interface for beginners and advanced tools like TradingView integration for experienced traders.

2. Kraken

Kraken has been one of the OG exchanges since almost when Bitcoin came out. Established in 2011, it is ranked number one for security by a research company Certified. With a presence in 190 countries, Kraken provides millions of customers with the option of buying, selling, and holding over 200 different cryptocurrencies.

Kraken also caters to advanced traders with its Kraken Pro platform, which offers advanced features like margin trading and spot trading. With advanced market data analysis tools and customizable charts, it gives you everything in one place.

Features

If we take a look at Kraken’s trading features, they are among the best. The biggest attraction of Kraken is that it allows margin trading for 1X to 5X leverage. On top of that Kraken offers futures trading with leverage as high as 50X on some pairs which is pretty impressive.

Future trading is different from traditional margin instruments because it is based on the future price of an asset. These “expiry times” allow market participants to hedge risk or make a forecast for what the asset’s price will be like in the future.

Kraken has also simplified the staking process, allowing users to earn interest on idle cryptocurrencies directly through their accounts. However, Kraken discontinued its U.S. staking program on February 9, 2023. Kraken settled allegations surrounding its staking program with the SEC for $30 million. 

However, if you’re outside the U.S., you can still stake your coins and earn lucrative yields. Kraken also offers a Kraken referral program, which lets you earn rewards by referring friends.

Trading experience is also a plus for Kraken, making it the best place to buy crypto, especially if you’re an advanced trader. Kraken Pro lets you create your perfect advanced trading setup with detailed charts, technical indicators, and a customizable layout. You can manage your portfolio quickly, compare up to four markets, and use advanced order types, such as stop-loss and take-profit orders. 

Plus, you can seamlessly switch from spot trading to margin trading to staking, making the trading experience even more enjoyable. The amazing part is you don’t have to sign up for anything extra. It’s part of your Kraken account. 

Kraken is also very secure and employs robust security measures to keep your funds safe from hackers. It has regular proof of reserve audits conducted by external auditors, so you can keep track of its crypto balances across spot, staking, margin, and futures. 

Plus Kraken acts as an exchange and custodian, storing your cryptocurrency securely in cold wallets for safety and hot wallets for liquidity. Moreover, two-factor authentication can be enabled via a security key or an authenticator app for added security.

Pros

• Longest-running crypto exchange.
• Modern security measures. 
• Best for advanced traders.
• Offers a variety of trading features. 
• High liquidity exchange.

Cons

• Can be complex for beginners.
• Staking not available everywhere.

Ideal For

Well suited to professionals who want to maximize their trading experience with detailed charts, technical indicators and an intuitive user interface.

3. Binance

Since its launch in 2017, Binance has been praised as the best place to buy crypto with a huge number of cryptocurrencies, high liquidity and advanced trading tools. It reigns supreme in terms of daily trading volume with over $28 billion according to CoinMarketCap. The best bit is that Binance has everything you need, whether you’re starting out in crypto or you’re a seasoned trader.

Features

A big reason why Binance is one of the top 10 crypto exchanges is the wide range of coins it supports. There are over 500 coins and nearly 1,000 trading pairs supported at the moment. Plus you can use more than 100 different currencies like USD, Euro, and the British Pound to buy the cryptocurrency of your choice. 

To top it off Binance also adds new coins fairly quickly after their initial offering on other marketplaces. That means you can get your hands on newly issued tokens for a pretty good price.

Another thing that sets Binance apart from the rest is it charges just 0.1% on crypto-to-crypto trades. Means if you trade 1 Ethereum, you only pay 0.001 Ethereum as fees which is pretty sweet. But using Binance Coin (BNB) can give you an even better discount on trading fees. 

Deposits never cost anything, but withdrawal fees vary by cryptocurrency. To withdraw, you must verify your account with an ID, such as a passport. But the best part is that there are no deposit limits, so you can trade freely with confidence!

When it comes to Binance trading features, you have everything at your fingertips. First up it allows spot trading which is just simple buying and selling cryptos. This means you can get started even if you’re an absolute beginner. Further, it offers margin trading with up to 10x leverage so you can take on bigger rewards. 

Margin allows you to choose between cross margin, which utilizes your entire balance, and isolated margin, which limits your loss exposure. It also offers futures trading for speculating on crypto prices. 

Both trading options require a lot of experience. So whichever style of trading you prefer, Binance has it covered! Plus you earn rewards when you share your Binance referral ID.

All of these trading options along with Binance’s streamlined interface make it obvious why it is the best place to buy crypto. Beginners will find the “Convert” feature useful for quick, hassle-free crypto swaps. For advanced traders, there are detailed charts, order books, and customizable tools to choose from.

If you’re into the staking then Binance is the place to be. It offers a lucrative staking service, allowing you to earn rewards on Proof-of-Stake and Decentralized Finance (DeFi) coins. This works like a savings account where you put money in and get a return on it. The best part is that you don’t need any technical knowledge to do this.

Pros

• 500 different cryptos to choose from.
• High liquidity for quick trade execution.
• Offers some of the lowest fees.
• Variety of trading options.
• Lucrative staking opportunities. 

Cons

• Regulatory obstacles in some places.
• Can be a bit overwhelming for beginners.

Ideal For

Binance is best suited for professional traders with a full suite of tools. Also ideal for traders who are looking for a bunch of cryptocurrencies to choose from.

4. eToro

eToro is the ultimate platform that combines leading assets with professional trading tools and social investing features in a single place. With over 38 million users across 75 countries, eToro is the best place to buy crypto, stocks, ETFs, and much more, offering a great trading experience for people who value social trading.

Features

eToro’s signature offering is its Copy Trader feature. This feature allows you to mimic the trades of other traders in real time. For those who are just starting out, this feature can give them an advantage in trying out different strategies without having to learn lots of technical terms. The best part is you can test strategies and see if copy trading works for you risk-free on a demo account with $100,000 in virtual money.

eToro offers the feel of social networking for traders. This allows people from around the world to check out what others are trading, share ideas, and make comments on strategies. Plus, you can easily track top traders and stay up to date on their moves, which makes the platform accessible to both novices and experts alike. 

If we talk about eToro’s interface, it’s visually appealing and intuitive and has the feel of a social media platform instead of a traditional brokerage. The desktop app provides convenient access to the latest prices and allows easy navigation. Plus you can create custom watchlists that sync across devices, so you can get volatility alerts directly on your phone.

The mobile app also boasts an interface that is social media-inspired and designed in a sleek manner. Beginners will love it since it offers an interactive way to interact with other traders and follow popular investor profiles. Although pro traders won’t like the boring interface and will miss advanced tools, the simple interface and innovative layout make investing easy and accessible anywhere.

When it comes to educational resources, eToro has everything you need. It features a full-fledged learning center called eToro Academy to help traders develop their skills. You will find a lot of useful resources like trading strategies, technical analysis, and market trends. This content is specially designed by its in-house analysts and traders to provide unique insights into trading strategies.

This shows an apparent dedication to education, which could increase its appeal to beginners and advanced traders.

As for fees, eToro offers free stock and ETF trading in certain regions, making it an excellent choice for fee-conscious investors. And there’s no hidden fee for crypto trades, just a flat 1% fee per trade. However, if you’re transferring crypto to an external wallet, you’ll be charged 2%. Regardless of the spreads, eToro keeps fees upfront and transparent. You can learn more about its fees here. 

Pros

• Top-of-the-line copy trading platform.
• Demo account to practice.
• Social media-like trading interface
• Best option for beginners.
• Diversified assets like ETFs and stocks.

Cons

• Small variety of cryptocurrencies.
• High spread fees.

Ideal For

eToro is the best place to buy crypto, especially for beginners who are not interested in complex charts and tools, but instead desire an intuitive social trading platform. Also, copy trading features really take it to the next level.

5. Crypto.com

Crypto.com has earned a reputation as the best place to buy crypto. That’s due to an impressive trading volume, a wide variety of features, and high liquidity. Founded in 2016, Crypto.com has evolved into a full-fledged exchange with a lot to offer, like staking rewards, NFTs, crypto rewards with Visa card and much more.

Features

Starting with the interface, Crypto.com does not overwhelm you with crazy terms and charts. Instead, its interface is intuitive and user-friendly, making crypto trading easy and accessible. 

No matter whether you use the website or the app, buying assets is easy enough even for beginners. It simplifies processes and eliminates complicated terms like maker-taker fees or trading pairs. This streamlined experience makes it a top choice for hassle-free trading and getting your head around cryptocurrencies.

If we check out the assets, Crypto.com boasts a list of more than 250 crypto assets, including many major and difficult-to-find crypto assets. Another amazing thing is that Crypto.com supports competing platform tokens and networks, including Binance’s BNB token and other BEP2 tokens. Plus there is support for BSC tokens (BEP20), which is exciting to see. 

Crypto.com launched the Visa crypto cards that brought it to the forefront. With this card, you can use your cryptocurrencies to make real-world purchases from over 60 million Visa-accepting merchants worldwide. The best part is you can get the card for free. But there is a catch. In order to qualify, you will need to invest in CRO tokens (the exchange’s native cryptocurrency) and hold them for 180 days.

Crypto.com’s Visa card also offers excellent cashback ranging from 1%-8% depending on how much CRO you stake. If you stake high CRO tokens you can unlock exclusive benefits like fee waivers as well. The cashback rewards will be credited in CRO tokens, which you can then trade or use to make purchases. 

The amazing thing is it doesn’t charge foreign transactions or annual fees! This makes it an attractive choice for crypto enthusiasts and travel junkies.

Crypto.com offers a lot of features, but one thing that you might be thinking about is “Will there be any hidden fees or charges?” The answer is no since Crypto.com follows the usual maker/taker format. It has competitive rates, particularly for high-volume traders and those who stake CRO tokens. The trading fee starts at 0.15% for maker transactions and 0.3% for taker transactions. The CRO holders get an additional discount. 

Pros

• Beginner friendly interface.
• Competitive trading fees.
• Comprehensive ecosystem for crypto services.
• Exclusive Visa card with lucrative benefits.

Cons

• Somewhat reduced card rewards.

Ideal For

Crypto.com serves as the Best place to trade crypto if you’re looking for an easy to use platform. Further, the Visa card cashback and staking benefits make the earnings experience even greater.

Factors to Consider When Choosing a Platform

Now that we have examined what could be the best place to buy crypto there are a few other important things you should keep in mind when picking a crypto exchange.

1. Security

Security is the biggest deal when choosing a crypto exchange. So always choose platforms that use two-factor authentication, cold storage for funds, and encryption to ensure an increased level of security.

Also check to see whether the exchange has ever suffered a security breach and how it responded. Make sure to choose a trustworthy exchange with a strong history of dealing with security breaches.

Further, you should research and understand the exchange’s specific strategies. The exchange should use multi-signature wallets to protect your funds, and they should have a security team constantly watching for any threats.

2. Fees

Fees are the second thing to take into account when choosing the best place to buy crypto. Look out for any fees charged by the platform when you register and use it. Plus sometimes there will be fees associated with withdrawals, deposits, and other aspects. So compare these fees against your budget and investment goals and see if they are reasonable. 

You can also do a comparison of fees with other exchanges. This way you’ll know what’s normal and what an exchange with extra fees offers.

3. User Experience

User experience also plays a crucial role when it comes to your crypto trading experience. So if you’re a beginner, make sure to choose an interface that is intuitive and easy to use, so you can trade coins seamlessly. But if you want a more professional look, go with an exchange that offers advanced features. 

Another significant part of user experience is related to customer-related features since you will eventually have questions or need assistance. So make sure the process of getting help is as convenient as possible.

4. Supported Cryptocurrencies

When you’re first getting into crypto investing or trading, you’re probably looking at Bitcoin, Ethereum and so on. However, as you move forward, you’ll find there’s a lot more opportunity with altcoins than you might think. Therefore, you should choose a crypto exchange that is proactive in adding new altcoins to their list as well as supporting all good altcoins. 

5. Additional Precautions 

When choosing a crypto exchange, it’s important to monitor liquidity and trading volume. Make sure to choose an exchange that has high liquidity. This usually means that there are a large number of trades taking place, resulting in price stability and quick access to assets. 

Another thing to keep in mind is the volatility of cryptocurrencies. Therefore, be cautious when dealing with exchanges that make grand claims or promise excessive returns. You should always verify the exchange’s transparency and reliability before making a commitment.

Conclusion

So there you have it. These are the leading crypto exchanges on the market. These platforms offer cutting-edge features and some exclusive benefits that help you determine what is the best place to buy crypto. There’s no one-size-fits-all approach to investing. So take the time to thoroughly analyze each platform according to your risk tolerance.

Another significant part of user experience is related to customer-related features since you will eventually have questions or need assistance. So make sure the process of getting help is as convenient as possible. Additionally, you should consider things like fees, security, and other features when choosing the best place to trade crypto.

FAQs