The right choice of crypto exchange is a compulsory first step for any user who wants to invest in cryptocurrencies. Hundreds of exchanges are already available, and finding the best among them is not easy. This article will help you select from the top 10 exchanges that gain high-quality standards, confirmed by CoinMarketCap, one of the leading platforms with crypto-related information.
CoinMarketCap grants its ranking based on a set of key criteria, including website traffic, average liquidity, trading volume, and reliability of the data provided. Each of these factors carries a particular weight, and an individual score, ranging from 0 to 10, is given to the exchanges based on their performance.
Here is a list of the best crypto exchanges to try, based on Coinmarketcap data as of October 2024.
1. Binance
Binance was founded in 2017 by Changpeng Zhao, also known as CZ. Since then, Binance has grown to become one of the largest crypto exchanges in the world by trading volume and liquidity.
The score obtained by Binance is 9.9. With a 24-hour trading volume of US$9.82 billion. Binance offers more than 428 crypto assets and 1,685 trading pairs. In addition, the platform also provides a mobile app that allows you to make transactions anytime and anywhere.
Despite its founder being caught in a money laundering case, Binance continues to improve its security and continues to be the world’s most secure Crypto Exchange.
2. Coinbase
Founded in 2012 by Brian Armstrong and Fred Ehrsam, Coinbase Exchange is the most well-known crypto trading venue in the United States. The rating that was given to Coinbase is 8.2, with a 24-hour trading volume of US$1.49 billion. Coinbase offers more than 261 crypto assets and 407 trading pairs.
If the funds are deposited via debit/credit card or PayPal, the fee is 3.99%. Yet, due to the fact that investing with them is pretty easy, many traders still adore Coinbase. Also, its security features can be considered one of the best among the rest.
Contrarily, Coinbase stores 98% of the customers’ digital assets offline. This top crypto exchange offers trading through both web and mobile platforms and allows its clients to generate passive income through staking. The best APYs being offered by Polkadot and Avalanche are 14.34% and 8.935%, respectively.
Unluckily, the commissions on this platform are not cheap: both paying fees and trading commissions are expensive.
3. Bybit
Bybit was founded in 2018 by Ben Zhou, focusing on trading crypto derivatives. Bybit receives a score of 7.6, with a 24-hour trading volume of US$3.52 billion. The platform offers more than 669 crypto assets and up to 1,012 trading pairs.
Bybit also grants leverage as high as 100x on perpetual contracts, targeting sophisticated traders. Maker fees are competitively low, with the lowest rate being 0.06%, and taker fees starting at 0.01% for regular traders. However, VIP members can enjoy even lower fees.
Performing fast and reliable trading, Bybit features a high-grade matching engine capable of processing up to 100,000 transactions per second. As one of the top crypto exchanges, it emphasizes security with cold storage and two-factor authentication. Additionally, the platform provides 24/7 customer support and offers more than 220 trading pairs.
4. OKX
OKX was founded in 2017 by Star Xu. The score earned by OKX is 7.8. With a 24-hour trading volume of US$1.38 billion. OKX offers more than 326 crypto assets and 734 trading pairs.
OKX is among the most highly rated P2P crypto exchanges and offers many trading services. Its crypto spot trading platform offers low trading fees of just 0.1% for each transaction. OKX offers even lower commissions when traders reach a certain trading volume within 30 days.
This platform also offers a staking feature with an APY of 5% for Bitcoin. Meanwhile, tokens like Near Protocol and Elrond provide higher yields of 35.5% and 36%, respectively, making OKX one of the best crypto-staking platforms.
5. Upbit
Upbit, founded in 2017 by Song Chi-hyung, is the largest crypto exchange in South Korea. Upbit’s score is 7.4. With a 24-hour trading volume of US$1.28 billion. Upbit offers more than 202 crypto assets and 336 trading pairs.
Upbit is known for its strong security support and wide range of crypto assets. Its friendly user interface also makes it popular among crypto users in South Korea.
6. Huobi
Founded in 2013 by Leon Li, a Tsinghua University graduate in Automation, Huobi Global is now better known as HTX. HTX has grown to become a one-stop blockchain ecosystem with a range of services, including digital asset trading, financial derivatives, wallets, research, investments, and incubation projects. Its products and services cater to a wide range of clientele, including institutions, market makers, brokers, and individual users across more than 160 countries on five continents.
The platform currently supports over 700 virtual assets, processes $4 billion+ in daily trading volume, and boasts over 45 million registered users. HTX offers various business segments, including spot, futures, and margin trading, along with earn products, custody services, trading bots, and 24/7 multichannel customer support.
HTX applies a tiered fee structure, meaning trading fees depend on the user level. The standard maker and taker fee stands at 0.2%, though users can enjoy fee discounts by paying with HTX or TRX tokens.
7. Kraken
Kraken was founded in 2011 by Jesse Powell and is one of the oldest crypto exchanges. Kraken’s score is 7.3. With a 24-hour trading volume of US$570 million. Kraken offers over 302 crypto assets and 888 trading pairs.
Kraken is known for their high security and the wide range of trading services they offer, including spot trading, futures, and margin trading. Kraken’s reputation as a safe and trusted exchange makes it a top choice for many crypto traders and investors.
8. Gate.io
This platform was founded in China in 2013 but rebranded as Gate.io in 2017. As one of the oldest crypto exchanges, it offers more than 1,700 cryptocurrencies, catering to both beginners and professional traders. As a top exchange Gate io provides educational services for new users. Although it was a victim of a major hack in 2018, the platform has since enhanced its security mechanisms and is now rated among the most secure exchanges by CER.
Gate.io offers various features, including bot trading, copy trading, and sub-accounts for different investment strategies. Users can generate passive income through Gate.io Earn, with APRs ranging from 1.5% to 50%. Gate.io has received a score of 6.9, with a 24-hour trading volume of US$1.72 billion. The platform currently lists about 2,325 crypto assets and supports 3,890 trading pairs.
9. Bitfinex
Bitfinex was founded in 2012 by Raphael Nicolle and is known for its high liquidity and the various advanced trading features they offer. The score obtained by Bitfinex is 6.9. With a 24-hour trading volume of US$123 million. Bitfinex offers over 183 crypto assets and 387 trading pairs.
Bitfinex provides a fast and reliable platform and a variety of trading tools for advanced users. Its reputation as a safe and trusted exchange makes it a popular choice among crypto traders.
10. MEXC
MEXC was founded in 2018, operates in over 170 countries worldwide, and serves more than 10 million users. This top crypto exchange is feature-rich and was developed alongside experts from the banking industry. It supports 1.4 million transactions per second, offering exceptional efficiency and performance for traders.
As one of the world’s leading crypto exchanges, MEXC supports over 1,600 coins and offers spot trading with 0% fees. Additionally, it provides margin and futures trading with up to 200x leverage and maker and taker fees of 0.00% and 0.02%, respectively. The platform ensures 1:1 proof of reserve in third-party custody for users’ personal assets across Spot, Fiat, and Futures wallets and for crypto holdings such as ETH, BTC, USDT, and USDC.
MEXC offers a wide range of tools, including drawing features, charting, and various technical indicators to assist with technical analysis. The platform can be used without KYC for users who prioritize privacy while enabling seamless trading. It also supports crypto purchases, deposits via debit/credit cards, bank transfers, and peer-to-peer trading. Moreover, users can utilize Apple Pay and Google Pay to buy crypto through third-party services.
DISCLAIMER: The content provided on Biztech Community is intended just for informational and reference purposes and should NOT be construed as investment or trading advice. The material presented in this article does not serve as an encouragement, recommendation, offer, or endorsement to buy or sell any crypto assets. Trading in financial markets, including cryptocurrencies, carries inherent risks and may result in financial losses. All investment and trading decisions are the investor’s responsibility, who should be fully aware of the associated risks and rewards.
