Best Crypto Exchanges & Platforms for December 2024
If you want to buy and sell digital currencies like Bitcoin, Ethereum, and Ripple – you’ll need to find a top-rated crypto trading platform that meets your needs. With hundreds of potential options to choose from – knowing which crypto platform to trade with can be challenging.
In this guide, we reveal the best crypto exchanges and Bitcoin Trading Platforms of 2024.
In bringing you the best providers, we sought to find platforms that offer low fees and commissions, lots of crypto markets, good customer support, and a safe and secure trading environment.
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Best Crypto Exchanges and Trading Platforms in 2024
After reviewing dozens of providers, we narrowed our list of the best crypto trading platforms down to just seven. For a full review of each platform, scroll down!
- Kraken: Kraken allows traders to buy crypto for just $10. The platform offers over 180 crypto assets with low fees. It is also possible to access staking and other advanced features through Kraken.
- eToro: A user-friendly, commission-free platform that supports 25 cryptocurrencies, offering features like automated trading tools and copy trading. eToro is regulated by FCA, ASIC, and CySEC, making it a safe choice for new and US traders, though not ideal for technical analysis because it does not support third-party charting tools. eToro also offers a native crypto wallet, eToro Money that can be used seamlessly with the trading platform.
- Paybis: Paybis allows investors to buy crypto with credit or debit cards. The exchange supports over 89 cryptocurrencies and offers 24/7 customer support, making it a suitable option for less-experienced investors.
- Binance: Binance is one of the largest crypto trading platforms that has a large daily trading volume. The platform is user-friendly and provides major cryptos as well as altcoins and new cryptocurrencies.
- Oanda: Oanda is a popular broker that has recently started offering crypto trading. At the moment, it is possible to trade 4 crypto CFDs on the platform. These include Bitcoin, Bitcoin Cash, Ether and Litecoin. Users can use MT4 to trade cryptos on Oanda.
- Dash 2 Trade: Dash2Trade is the world’s first social analytics platform for crypto that offers everything in one place. The platform supports traditional trading as well as social trading, automated trading and crypto signals. Dash2Trade is built on blockchain technology offering security and transparency to traders.
- Bitstamp: Bitstamp is a global crypto exchange that offers low fees and user-friendly features. Users can trade 80 cryptocurrencies through Bitstamp and can also use MT4 to conduct analysis.
- Coinmama: Coinmama is a good platform to use if you are looking to buy crypto with a credit or debit card in the US. However, the platform charges relatively high fees and does not come with a native wallet option.
- Gemini: Gemini is a US-based crypto exchange with a strong focus on security. The platform is most suitable for long-term investors are it charges relatively high fees.
- Luno: Luno is a mobile trading platform that can be used to trade cryptos. The app is very user-friendly however, the crypto exchange fees are high and the platform does not support advanced technical analysis.
- Coinbase: Coinbase is a beginner-friendly trading platform with over 35 million users worldwide. The platform offers over 200 coins and 479 crypto trading pairs, making it a good choice for traders who want to build a diverse portfolio. Users can also access the Coinbase wallet, which can be connected to dApps, presales, and other crypto exchanges.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
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with 100 you receive0.0046 BTCWhat we like- Super user-friendly trading platform
- Deposit funds with a debit/credit card
- e-wallet
RatesSecuritySelection of CoinsFeaturesPayment methodswith 100 you receive0.0046 BTCeToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.
with $ 100 you receive0.0046 BTCWhat we like- Simple and fast way to buy and sell cryptocurrencies online
- Great reputation and now home to over 35 million customers
- Supports debit card and bank transfer deposits/withdrawals
RatesSecuritySelection of CoinsFeaturesPayment methodswith $ 100 you receive0.0046 BTCYour money is at risk. The exchange holds an e-money license from the FCA.
with 100 you receive0.0046 ETHWhat we like- Start trading crypto with $10
- $270B quarterly trading volume
- Over 200 crypto assets available
RatesSecuritySelection of CoinsFeaturesPayment methodswith 100 you receive0.0046 ETHYour money is at risk. Crypto assets are highly volatile.
with 100 you receive0.00275881 BTCWhat we like- 24/7 customer support for all users
- Buy crypto with credit card or debit card
- Available in 180 different countries around the world
RatesSecuritySelection of CoinsFeaturesPayment methodswith 100 you receive0.00275881 BTCDon’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong.
What is a Crypto Exchange?
A crypto exchange is an online platform that facilitates the buying and selling of cryptocurrencies. The platform acts as the ‘middle man’ between the investor and the cryptocurrency by providing access to the crypto market.
Cryptocurrency trading platforms can be accessed via desktop or mobile app and work similarly to traditional stock exchanges. Users can search for assets, view live market data, execute orders and manage their portfolios within the platform.
Most cryptocurrency exchanges offer buying and selling, staking, leverage trading, margin trading and CFD trading (although this is currently illegal in the US). The exact offerings will differ between each exchange.
Exchanges connect with crypto projects to list tokens on the platform. The exact listing process will differ depending on whether the exchange is centralized or decentralized. Once an asset is listed, the exchange will provide live price data that can be used by traders to conduct analysis. The price of tokens on an exchange is determined by trading volume and supply and demand. The best crypoto exchanges work around the clock to ensure that prices reflect market conditions.
Sometimes, the price of a token is marked up by an exchange to cover trading fees. This is known as a spread. On exchanges where spreads aren’t charged, traders will usually be charged a commission on each trade that they place.
Centralized vs decentralized exchanges
As mentioned above, there are two types of cryptocurrency exchanges: centralized and decentralized.
✔️ Centralized exchanges
A centralized exchange is a platform that is controlled by a central authority. Popular examples include eToro, Coinbase and Binance.
These platforms are governed by a single entity who make decisions around platform security, development, regulation, fees and accessibility. Centralized exchanges provide trader protection with processes such as KYC and 2FA. Furthermore, centralized exchanges typically have better liquidity and faster transactions which make them an appealing option for some traders.
The main drawback of using a centralized exchange is that the platform typically offer less variety. Some traders also argue that CEXes defeat the point of cryptocurrency, which was created a decentralized alternative to the traditional finance system.
✔️ Decentralized exchanges
A decentralized exchange is a crypto trading platform that is secured by blockchain technology. These platforms have no central authority and all transactions are verified through a mining or staking.
These platforms facilitate peer-to-peer trading which means that there is no need for an intermediary. Funds are transferred over the blockchain which stores transactions as lines of code. Once executed, transactions cannot be reversed or changed. True ownership is given to the owner of the crypto wallet that tokens are sent to.
Decentralized exchanges provide access to the wider DeFi space and often offer a better variety of crypto assets to trade. Another advantage of using the platforms is the lack of regulatory interference. These platforms do not need to adhere to KYC requirements which means that they can be used anonymously and privately.
The main disadvantage faced by decentralized exchanges is lack of liquidity. These platforms rely on trading volume to supply liquidity to the network which can be difficult when there is a lack of buyers and sellers.
What is a hybrid crypto exchange?
A hybrid exchange is another type of online trading platform that combines features of centralized and decentralize exchanges. A hybrid exchange uses aspects of a centralized exchange to support the buying and seller of assets. However, the platform has no control over users funds because these are stored in a decentralized manner.
Hybrid exchanges solve regulatory issues that are present on CEXes and liquidity problems that are often found when using a DEX. A popular example of a hybrid exchange is Uniswap.
Best Trading Platforms For Cryptocurrencies Ranked & Reviewed
With so many cryptocurrency exchanges to choose from, selecting the most suitable one can be a complicated task. Traders need to analyze every aspect of a platform before putting any money at risk. This includes looking at asset availability, trading tools and features, educational resources, trading fees and the platform’s reputation.
To help you begin your research, below you will find our review of the best crypto exchanges in the market right now.
1. Kraken – Invest in crypto from $10; Kraken is user-friendly and available on mobile
If you’re hoping to diversify your portfolio with a variety of crypto assets, Kraken is the best exchange that offers over 230 different tokens. The popular exchange is used by over 9 million traders worldwide and is supported by over 190 different countries.
What makes Kraken stand out from the rest is that the exchange offers a large variety of cryptos and you can get started for just $10. This makes it a great choice for those who are looking to split their funds between different tokens or start trading with small amounts of capital.
Furthermore, Kraken offers a range of educational materials that make it easy for users to navigate the platform and make informed trading decisions. These materials include in-depth articles, webinars and a helpful podcast.
If you need to contact support, the Kraken customer support line is available to use 24/7 every day of the year. This means that you will never be left alone with any issues that you may have. The support team is on-hand to help you at any time.
As well as traditional crypto trading, Kraken also offers staking on over 12 assets and margin trading with up to 5x leverage. It is also possible to trade 50+ futures contracts through the platform’s multi-collateral wallet feature.
Users can participate in each type of trading through the exchange’s easy-to-use trading platform. The trading interface has been designed with simplicity in mind and offers everything that you need to conduct analysis, research and make trading decisions.
As far as fees are concerned, Krakens are relatively low. The platform charges a 0.9% fee for stablecoin transactions and a 1.5% fee for any other crypto or FX pair. For NFTs, the transaction fee is 2%. The fees are charged on a per trade basis and traders may also be charged for deposits and withdrawals.
Pros:
- Trade over 230 tokens and 130 crypto trading pairs
- The exchange offers some of the lowest fees on the market.
- Kraken offers robust security measures to protect users.
- Users can access staking, leverage trading and crypto futures.
- 24/7 customer support is available.
Cons:
- Kraken is not available in all US states.
Your money is at risk.
2. eToro – Trade 25 crypto assets on a regulated platform; invest with ready-made Smart Portfolios
eToro is a top-rated provider gives you access to 25 digital currencies. This includes Bitcoin, Ripple, EOS, Cardano, Ethereum, Floki Inu, ApeCoin, Litecoin, SafeMoon, and more.
As well as traditional crypto trading, eToro offers ready-made crypto portfolios which allow users to invest in a basket of coins that have been selected by experts. The portfolios are regularly balanced and managed by third-party professionals which takes away much of the research and analysis tasks that are usually involved in crypto investing. However, it is still advisable to monitor the market and stay up to date with developments in the crypto space.
Furthermore, eToro has a simple fee structure of 1% for all crypto trades. This makes is easy to calculate the cost of using the platform. There are no ongoing fees either, so you can hold onto your crypto investment for as long as you wish.
The minimum stake on eToro is just $10 and the platform supports fractional investing. eToro also stands out for us as it offers automated crypto trading tools and yield farming features as well as crypto staking for ETH and BSC.
The platform is also know for copy trading. This involves mirroring the trades of professional traders to reduce the amount of research and analysis that is required to navigate the crypto space. Of course, there is no guarantee the the expert’s trades will be successful so copy trading comes with risk. Copy trading allows you to copy a seasoned crypto trader like for like at an amount proportionate to what you invest (minimum $200).
Pros:
- eToro is a regulated crypto trading platform that places a strong focus on user safety.
- Users can access a range of ready-made smart portfolios for long term investing.
- Fixed 1% commissions on all crypto trades.
- eToro provides users with a native crypto wallet that can be used to send tokens to other applications.
- The broker supports social trading.
- The platform provides a demo account that is free to use for all traders.
Cons:
- Not suitable for advanced traders that like to perform technical analysis.
- Traders are limited to 25 tokens.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
Note: Only cryptocurrencies eToro customers in the United States will be able to trade on the platform will be Bitcoin, Bitcoin Cash, and Ethereum.
3. Paybis – Best crypto exchange for buying Bitcoin with credit or debit card
Paybis is a popular cryptocurrency exchange that is available in over 180 countries around the globe. The platform is popular because it supports the buying of cryptos with credit card, debit card, Apple Pay, and Google Pay. This simplifies the process of investing in DeFi, making it more accessible to less-experienced investors.
As well as offering simple payments, Paybis provides 24/7 customer support which is available through live chat and email. Users can also find a range of educational resources on the platform which can be used to learn more about investing in cryptocurrency.
Regarding fees, Paybis does not charge a fee for the first transactions. However, any following transactions are charged at a rate of 2.49% for credit or debit card transactions. It should also be noted that the platform charges a minimum of 2 USD service fee to pay for platform features, this means that the minimum commission is $2. The minimum deposit is $50 and the minimum trade amount is $5.
Pros:
- Over 89 different crypto tokens are available.
- Commissions are transparent.
- Paybis offers market-leading customer support that is available to all customers.
- The exchange is available in over 180 countries.
- The platform offers fast security checks to speed up the process of buying crypto.
- Users can access a good range of educational resources.
Cons:
- Limited analysis tools are available for advanced trading strategies.
- Paybis is only available in 48 US states.
4. Binance – One of the best crypto exchanges with over 350 coins available; supported by the native BNB token
If you’re a crypto day trader – meaning that you actively buy and sell digital currencies with the view of making frequent profits, Binance could be the right platform for you. Although this platform was launched as recently as 2017, it is now home to the most volume. In fact, daily trading volumes on Binance frequently surpass $10 billion.
There are several reasons why this cryptocurrency platform is so popular. Firstly, it is home to a huge number of crypto trading markets, which includes hundreds of pairs. This includes major pairs like BTC/USDT and BTC/ETH, but many micro-cap markets, too.
As such, Binance is also a good option if you have your eyes on a number of small altcoins that you wish to invest in, like Shiba Inu, IOTA, Dash Coin, CAKE, KAVA, Digibyte, OMI, and Monero.
Binance also stands out for us as it offers very competitive trading fees. This starts at just 0.10% – meaning that a $1,000 order could cost just $1 in fees.
Fees can be reduced even further by holding Binance Coin – which is the cryptocurrency native to the Binance platform. Further, Binance offers reduced rates when you trade larger volumes.
As well as cryptocurrencies, Binance supports NFTs which can be traded and stored on the platform. This is suitable for investors who are interested in diversifying their DeFi exposure with a different type if digital asset. Assets can be stored on the trading platform in the secure Binance wallet, which is available on mobile.
If you decide to keep your coins at Binance, the platform keeps the vast majority of client funds in cold storage. It also offers two-factor authentication and IP/device whitelisting. Perhaps even more impressive is the ‘SAFU’ feature hosted by Binance. This is a reserve insurance pot to cover clients in the unfortunate event the platform was hacked.
Pros:
- Binance offers advanced charting tools and educational resources.
- The platform provides real-time market data, including the Bitcoin order book.
- Extremely low fees with discount for holding BNB tokens.
- Investors can stake BNB for passive rewards.
- Binance provides access to NFTs as well as crypto tokens.
Cons:
- No stop-loss or if-then orders.
- Customer service via ticket system only.
Your money is at risk.
5. Oanda — Trade cryptocurrencies via MT4; Oanda is suitable for day trading crypto
Oanda is one of the top forex brokers in the USA, that can alos be sued to trade cryptos. Crypto trading is possible for 13 major cryptocurrencies on the MT5 platform of Oanda, including BTC, ETH, Litecoin, Binance Coin, Cardano, Chainlink, Dogecoin, Polkadot, EOS, Stellar, Tezos, and Uniswap.
With the platform, traders can access customizable layouts, trade-through charts, a wide range of plug-ins, and an intuitive interface. In addition, traders can test their strategies on both live and demo accounts before committing to real funds. Trading cryptocurrencies with MT5 is a versatile and comprehensive option for those looking for the biggest names in this market.
Additionally, Oanda provides various educational resources and tools for traders to improve their abilities and make better trading decisions. Video, e-books, and webinars are some educational materials they provide. Additionally, traders have access to a comprehensive FAQ section and 24/7 support for any questions or problems.
It is also worth mentioning that Oanda offers a currency converter tool, which allows clients to convert between different currencies with real-time market data provided by OANDA RatesTM, a collection of leading forex market data contributors. This tool can be a useful resource for traders and anyone looking to convert currency for business or other purposes.
Pros:
- There is no mark-up on crypto trades.
- Multi-option trading platforms with advanced charting tools.
- Oanda offers excellent customer support.
- Research and educational resources are available on the platform to improve your knowledge.
Cons:
- US traders do not have access to negative balance protection.
- The selection of cryptos is limited.
Your money is at risk.
6. Dash 2 Trade – Cryptocurrency social trading platform that offers real-time insight, expert analysis and automated trading features
Dash 2 Trade is an all-in-one crypto trading platform that provides a huge variety of tools and features. The platform is a new player in the market but that does not mean that it lacks expertise. Dash 2 Trade has been developed by a team of industry experts that were also involved with the best-selling Learn 2 Trade platform.
Dash 2 Trade incorporates everything into one place including educational resources, auto-trading features, social trading, trading competitions, signs and listing alerts, easy token swapping, a reliable wallet and crypto staking.
In fact, the above list does not cover everything that is included in a Dash 2 Trade subscription.
The aim of the project is to provide traders with a high-quality tool that can help them to navigate the market with confidence and improve their trading. The platform focuses on quality over anything else and seeks to provide users with the best experience possible.
Dash 2 Trade is a blockchain-based exchange and uses cryptography to secure transactions. All transactions are immutable and irreversible which provides transparency to the ecosystem.
To use Dash 2 Trade, you will need to buy the D2T token, which can then be used to pay for subscriptions. The token is a deflationary assets itself that can be exchanged for other currencies. Furthermore, the platform rewards users with tokens for spending time in the ecosystem. As a result, it is possible to earn whilst trading when you use Dash 2 Trade.
Pros:
- Blockchain-based platform that harnesses advanced crypto trading technology
- Users can access hundreds of tokens including new cryptocurrencies and presale coins.
- Provides access to NFTs, staking and d’Apps.
- Offers a range of educational materials, accurate signals and expert insight
Cons:
- Users must pay a monthly subscription to access some platform features.
Your money is at risk.
7. Bitstamp – A simple Bitcoin trading platform for newer traders; invest from $10
Bitstamp is a global cryptocurrency exchange backing nine major digital currencies, including Bitcoin, Litecoin, Ethereum and Ripple. It acts as an intermediary between buyers and sellers, offering a secure platform on which users can place orders and trade Bitcoin, Ethereum and other popular coins.
It provides high liquidity, low trading fees and low latency order execution. Bitstamp’s user-friendly interface and built-in tools make it a great choice for new cryptocurrency traders to buy and sell digital currencies quickly and securely.For those exploring cryptocurrencies to buy, Bitstamp offers a wide selection of popular assets, making it easy to diversify your portfolio.
Leverage trading, real-time data analysis and other advanced features are available for experienced users on the Bitstamp platform, allowing traders to react quickly to market changes. With a wide range of customer support options and strong security protocols, Bitstamp is one of the most reliable exchanges for cryptocurrency trading.
Bitstamp is a global digital asset exchange which has continued to guarantee transparency and reliability for its customers. It is licensed by the Luxembourg Financial Industry Supervisory Commission and meets the European Union’s payment services directives.
The platform also has a mobile app so traders can stay updated wherever they are. Thanks to its simple yet effective tools, Bitstamp has become one of the most popular cryptocurrency trading platforms in the whole world.
Pros:
- Very low platform fees compared to other options.
- Access to real-time data analysis.
- Trade major crypto assets including Bitcoin and Ethereum.
- Licensed by the Luxembourg Financial Industry Supervisory Commission.
Cons:
- Limited number of assets available.
- The platform doesn’t offer any advanced charting tools such as MT4.
Your money is at risk.
8. Coinmama – Top crypto exchange that allows users to buy crypto with a debit/credit card
Coinmama is a good option if you are planning to buy and trade Bitcoin and store your coins in a private wallet for several months or years. This is because, unlike other crypto providers, Coinmama does not allow you to store your coins on the platform.
Instead, you need to enter your wallet address when you make a purchase, and Coinmama will instantly forward the digital currency to your thrid-party wallet. In particular, Coinmama is popular with those that wish to buy cryptocurrency with a debit or credit card.
In order to do this, you will need to first upload a copy of your government-issued ID, alongside a selfie. This is to ensure Coinmama remains compliant with anti-money laundering laws. Then, it’s just a case of entering your card details and deciding how much you wish to invest.
Coinmama actually hosts 8 different cryptocurrencies – which include Bitcoin, VeChain, Litecoin, Bitcoin Cash, Ethereum, and Ethereum Classic. Crucially, once you have verified your Coinmama account, making a purchase should take you less than a few minutes. Plus, you can then use Coinmama to sell your coins back to fiat currency.
Although Coinmama offers one of the easiest ways to invest in crypto, we should make it clear that the provider charges handsomely for its services. For example, all cryptocurrency prices that you see on the platform are typically 2% less favorable than the current market rate.
This means that you are indirectly paying a fee of 2%, which is essentially a ‘spread’ in all but name. Then, Coinmama also charges a trading commission of 3.90% when you buy a cryptocurrency and 0.90% when you sell. The platform also charges high fees for payments and withdrawals.
This stands at 5% of the transaction amount. The cheaper option is to transfer funds from your bank account, but again, this will delay the process. Plus, Coinmama charges a £20 fee on bank wire deposits of less than $1,000.
Pros:
- Buy Bitcoin with credit or debit card.
- Purchases often take less than 10 minutes from start to finish.
- The platform has a simple user interface which is easy to navigate.
- Coins are automatically sent to your private crypto wallet
Cons:
- 2% mark-up on Bitcoin trading rate and 3.90% buy commission
- Debit/credit card deposits add an extra 5% fee to the trade
Cryptoassets are highly volatile unregulated investment products. No EU investor protection.
9. Gemini – Trade crypto on the go or use advanced charting to conduct in-depth analysis; users can also access staking to increase their returns
If you’re looking for a US-based crypto exchange that is both safe and secure, then Gemini could be the best option for you. Although not the most competitive platform in terms of fees, Gemini offers a range of investor protections that ensure you can trade in a safe environment.
For example, all clients of Gemini are required to go through an enhanced identity verification process. All US dollar deposits held at Gemini are covered by the FDIC, which is a major plus point for Americans. Perhaps most important, Gemini is regulated by the New York State Department of Financial Services (NYSDFS) as a trust company (Gemini Trust Company, LLC).
On top of offering institutional-grade security, Gemini is able to offer traders significant levels of liquidity. This is why the platform is often the preferred provider for large-scale and institutional investors. When it comes to supported crypto assets, Gemini is home to 20+ cryptocurrencies. These can all be traded against the US dollar.
In terms of fees, Gemini charges 1.49% on all buy and sell orders. If you trade less than $200, you will pay a flat fee. This will depend on the amount you buy or sell, but will work out more than 1.49%. In addition to this, Gemini charges a markup of 0.50% above the current rate of the cryptocurrency you are trading.
If you like the sound of Gemini, you’ll need to deposit funds via bank transfer. There is no support for debit/credit cards or e-wallets. You can also fund your Gemini account with a cryptocurrency. Finally, we should note that on top of the US, Gemini is also available in the UK, Canada, Singapore, South Korea, and Hong Kong.
Pros:
- Popular with large-scale investors and seasoned traders due to large liquidity.
- Institutional-grade security practices.
- Buy, sell, and trade 20+ digital currencies like Tron
- USD deposits are FDIC insured
Cons:
- Not the most suitable option for new cryptocurrency traders.
- Charges a commission of 0.5% per slide.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection.
10. Luno – A crypto trading platform with a native savings accounts that rewards 4% interest on holdings
Luno is a free cryptocurrency and Bitcoin trading platform that is often used by beginners entering the market for the first time. In particular, Luno is a great option if you are planning to buy, sell, and trade cryptocurrencies via your mobile device.
This is because the provider offers a fully-fledged app that is available on iOS and Android. The app offers a seamless user experience that isn’t hindered by smaller screen sizes. As a beginner-friendly crypto trading platform, Luno allows you to buy digital assets with a debit or credit card.
With that said, this does come with a fee of 3.5%, which is on the steep side. On the other hand, if you are able to deposit funds with crypto, you’ll only pay the respective blockchain fee. Either way, once you have funds in your Luno account, you can then trade at a commission of just 0.1%.
You’ll have access to several chart reading tools, which include integration with TradingView. One of the best features offered by this top-rated crypto trading platform is its savings account. This allows you to deposit crypto and earn up to 4% annually. You will, however, need to lock your coins up for a certain period of time.
The longer you lock the coins away, the more interest you can earn. This is a really innovative feature that allows you to earn income on a cryptocurrency investment that would otherwise be left sitting idle. After all, you’ll still benefit if the cryptocurrency in question rises in value, as you’ll receive the full principal amount back from Luno once the deposit term expires.
Pros:
- Bitcoin savings wallet with 4% interest.
- Advanced charts from TradingView are available for technical analysis.
- Supports market, limit, and stop-loss orders.
- Excellent mobile trading app.
- Relatively low fees for trading Bitcoin.
Cons:
- No one-minute price charts.
- Confusing fee schedule.
Your money is at risk.
11. Coinbase – An established exchange with over 200 cryptocurrencies available as well as a native DeFi wallet
Coinbase is safe, user-friendly, and it supports over 200 crypto assets. This includes most top-20 cryptocurrencies in terms of market capitalization – such as Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar Lumens, Tether, Decentraland, and Litecoin. Coinbase also offers a number of less popular digital currencies, including but not limited to Band, Maker, Graph, and NuCypher which makes it an excellent defi trading platform.
Opening an account with Coinbase is also straightforward – as just like eToro, the platform is able to verify ID documents quickly. Then, you can deposit funds with a debit card or bank transfer. If opting for the former, you can purchase your chosen cryptocurrency both directly and instantly. Once the transaction is executed, the crypto will be added to your Coinbase account.
Coinbase is also known for providing market-leading protection to its users. Launched way back in 2012, the platform offers some of the best security controls in the industry. On top of complying with all relevant anti-money laundering regulations in the US, Coinbase keeps 98% of client funds in secure offline storage.
It also requires you to sign up for two-factor authentication. This means you’ll need to enter a unique code every time you log in to your account – which you’ll acquire from your mobile device. Coinbase gives you the option of setting up a 48-hour time-lock on withdrawals, should you want to add an extra layer of security.
With that said, Coinbase does come with a major flaw – it is one of the most expensive crypto exchanges in the market. For example, you will pay 3.99% to buy cryptocurrencies directly with your debit card. Although bank account deposits are free for most clients, you’ll still need to pay a trading commission of 1.49% – which is charged on both buy and sell orders.
Nevertheless, in addition to being able to buy and sell cryptocurrencies, this top-rated crypto exchange also offers a day trading facility. Coinbase Pro comes packed with digital currency pairs that you can trade at lower commissions. This starts at 0.50% per slide, which is still expensive, but much more competitive than the 1.49% it charges to buy and sell.
Pros:
- Users can access staking to earn passive rewards from their investments.
- Coinbase wallet can be connected to most DeFi apps allowing investors to use their tokens in web3.
- Supports debit card and bank transfer deposits/withdrawals.
- Coinbase Pro provides traders with advanced charting tools and APIs.
- The exchange is available to use on mobiles.
Cons:
- Complicated and expensive fee structure.
- Limited customer support options available.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
How We Picked the Best Cryptocurrency Exchanges and Apps
In order to present a reliable overview of the top crypto trading platforms, our team spent time testing out each exchange by using a demo account. For providers that did not offer a free demo account, research was carried out by looking at the experiences of other users, reading carefully through each platform’s website and watching videos of the platform live in action.
After testing a number of potential options, we narrowed our selection down to 10 exchanges that provided the best user experience.
Our team looked for platforms that were beginner friendly, offered low fees, a wide selection of assets and a variety of tools and features for trading. The cryptocurrency market is volatile so it is important that investors can access everything that they need to make informed decisions.
We found that some platforms were confusing to use and did not provide the tools required to conduct research and analysis. We did not include these platforms in our final selection as these were not deemed to be suitable for less-experienced crypto traders. Instead, each of the platforms mentioned in our list offer features that are suitable for new crypto traders. However, that does not mean that there isn’t any risk involved with using them.
How To Choose The Best Cryptocurrency Trading Platform For You
As per Blockspot.io, there are now close to 1500 crypto exchanges and crypto lending platforms operating in the online space. As such, the process of choosing a crypto trading platform for your needs can be a daunting task.
The good news is that selecting a provider doesn’t have to be challenging if you have a checklist of key metrics in place – such as those surrounding safety, tradable markets, payment, and of course – fees.
Let’s explore these core requirements in a bit more detail.
☑️ Asset variety
Some crypto trading platforms will offer heaps of markets, while others focus on a select few. For example, in the case of Coinmama, the platform only supports 8 digital currencies. At the other end of the scale, Binance supports over 350 coins.
Choosing a platform that offers variety of cryptos will make it easier to diversify your portfolio in the long run. As a minimum, make sure that the platform you choose offers a selection of currencies that have different use cases so that you can spread your investments accordingly.
☑️ Trading tools & features
The crypto market is volatile which means that the best platforms should provide traders with a range of tools and features that can be used to conduct analysis, develop advanced strategies and even automated the trading process. Common features that are offered by top platforms include:
- Crypto trading robots
- Copy trading and social trading features
- Leverage trading and margin trading
- Compatibility with third party charting tools such as MT4
- Educational resources, expert analysis and research
☑️ Liquidity
Liquidity is an important factor to consider when choosing an exchange. It refers to how easily a trader can purchase or sell an asset without affecting its price. High levels of liquidity tend to occur on platforms that have a high level of trading activity or when the supply and demand for a token is high.
High liquidity reduces investment risk, makes it easier to exist a trade and provides price stability. Liquidity is measured as a ratio and a ratio greater than 1.0 is considered to be high. A good way to measure liquidity is to look at the bid-ask spread of an asset. The lower the spread, the higher the liquidity.
☑️ User experience
User experience is another important factor to consider. A user-friendly platform will be much easier to navigate, especially for beginner traders who may not be familiar with advanced tools.
The best trading platforms should provide simple navigation, clear price charts and tutorials to demonstrate how to use each function. It should also be easy to access customer support and different trading options.
☑️ Customer service
Cryptocurrency trading is a risky endeavor so it is important that platforms offer support services to help traders along their trading journey. The best platforms provides a selection of support options to suit your individual needs including live chat, email, phone and even AI support. Live chat is the most effective option because you can have your queries answered instantly.
How To Use a Cryptocurrency Exchange in 2024
If you’re itching to start trading crypto from the comfort of your home – but you’re not too sure where to start, we are now going to walk you through the end-to-end process of trading crypto with eToro.
By following the guidelines below, it is possible to sign up to the platform and start trading in less than 30 minutes.
Step 1: Open an account and upload ID
Visit the eToro website – either online or through your mobile phone, and click on the ‘Join Now’ button.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
You will now be asked to provide some personal information. This includes your name, country of residence, date of birth, mobile number, and email address.
Step 2: Upload ID
As a regulated provider, eToro will ask you to upload a copy of your ID and proof of address (utility bill or bank account statement). This is usually validated in less than a couple of minutes.
Step 3: Deposit funds
You will need to meet a minimum deposit of $20 before you can start trading on eToro.
This top-rated crypto trading platform supports the following payment methods:
- Debit Cards
- Credit Cards
- E-wallets (Paypal, Skrill, Neteller)
- Bank Wire
If you’re a US citizen depositing in USD, you won’t pay a fee to fund your eToro account. Otherwise, you will pay an FX fee of 0.5%.
Step 4: Search for a crypto trading market
eToro supports 25 digital currencies and almost 100 pairs. If you know which pair you wish to trade, search for it before clicking on the ‘Trade’ button.
If you want to browse what markets are offered by eToro, click on ‘Trade Markets’, followed by ‘Crypto’.
Step 5: Place a trade
The final stage of the process is to place your crypto trade.
This is simple on eToro, as you simply need to enter your stake. As you can see from the image below, we are buying $25 worth of Bitcoin. This is the minimum on eToro when trading crypto.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
Finally, click on the ‘Open Trade’ button to place your crypto order!
Our Final Thoughts On The Top Crypto Exchanges
There are a number of reputable cryptocurrency exchanges available to use in the US. In this guide, we have reviewed the top 10 options that are suitable for both beginners and advanced traders. Out of the platforms that we researched, eToro stands out as the best crypto exchange because it is easy to use, offers 25 different major cryptos and provides ready-made smart portfolios for investors who want to minimize research time.
However, eToro doesn’t provide advanced tools for technical analysis. Traders who want to use algo tools, APIs or third-party charting options might want to consider other options that we have reviewed.
When choosing a platform for crypto trading, it is important to look at fees, asset availability, trading tools, liquidity, ease of use and customer support. Take time to research each exchange before deciding on the best option for you.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
FAQs
Which crypto trading platforms offer the most leverage?
This depends on whether or not you are planning to use a regulated crypto trading platform (which you should). If you do, your access to leverage will depend on your country of residence. But, if using an unlicensed provider -such as BitMEX, it’s now possible to get leverage of up 1:100.
What is the cheapest crypto exchange and Bitcoin Trading platform?
Binance is often viewed as a low-cost trading platform, as it charges just 0.10% in commission. However, you’ll pay up to 4.5% to deposit funds with a debit card. A much cheaper option is to use a regulated platform like eToro, which charges no commission on its crypto markets. Plus, debit card deposits will cost you a maximum of 0.5%.
Which Bitcoin Trading platform is safest?
If you want to trade Bitcoin in a truly safe and secure manner, it’s best to use regulated platforms. eToro, for example, is regulated by the CySEC, FCA, and ASIC, and it is also registered with FINRA in the US. In our view, this makes eToro one of the safest Bitcoin trading platforms in the space.
Which Bitcoin trading platforms offer futures?
If you’re interested in Bitcoin derivatives like futures and options, Binance might be your best bet. The popular exchange offers an abundance of markets on these Bitcoin derivative products, which all allow you to trade with leverage.
How do crypto exchanges make money?
Crypto exchanges make money by charging fees. Trading-related fees include commissions and spreads. Non-trading fees usually focus on deposit/withdrawal charges.
References:
- https://www.bitpanda.com/academy/en/lessons/the-difference-between-a-cryptocurrency-broker-and-an-exchange/
- https://brokercheck.finra.org/firm/summary/298361
- https://www.fca.org.uk/news/warnings/etoro-sb-limited-clone-fca-authorised-firm
- https://www.investopedia.com/cryptocurrency-regulations-around-the-world-5202122
- https://www.sofi.com/learn/content/how-to-choose-a-cryptocurrency-exchange/
Kane Pepi Finance Writer
View all posts by Kane PepiKane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. Now based in Malta, Kane writes for a number of platforms in the online domain. In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner. Kane has also written for websites such as MoneyCheck, InsideBitcoins, Blockonomi, Learnbonds, Buyshares n and the Malta Association of Compliance Officers.
Before starting his career as a writer, Kane studied at the University of Central Lancashire where he received a Masters Degree in Financial Investigation and then a Research Doctorate in Criminal Justice. Pepi is passionate about helping people to make informed decisions through high-quality, educational content.
Visit eToroDon’t invest unless you’re prepared to lose all the money you invest.Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers.
WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.
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