Best Crypto Exchanges for Beginners in 2024 – Compare Crypto Trading Platforms

Crypto exchanges enable investors to buy, sell, and trade digital assets like Bitcoin and Dogecoin. Many factors should be considered when selecting an exchange, such as regulation, supported cryptocurrencies, and fees.

Read on to discover the best crypto exchanges in 2024. We review the top 15 crypto trading platforms for the most important metrics, allowing traders to make informed decisions.

The 15 Best Cryptocurrency Exchanges

Listed below are the 15 best crypto exchanges in the market right now:

  1. eToro – Overall Best Crypto Exchange in 2024
  2. Kraken – Trade Crypto With Leverage of up to 5x
  3. Coinbase – Safe Crypto Exchange With Top Security Features
  4. Gate.io – Low Fee Crypto Platform With 1700+ Cryptos
  5. MEXC – Trade 1700+ Cryptos With Low Fees
  6. OKX – Leading Crypto Exchange With Low Fees and Passive Income Services
  7. ByBitExchange With Low Fees, High Leverage, and Strong Security
  8. Pionex – Auto Trading Crypto Bot Offers Staking Mechanisms and Demo Accounts
  9. KuCoin – Exchange With Low Fees and Advanced Trading Features
  10. PrimeXBT – Offers High Leverage And a Secure Trading Platform
  11. Margex – Promising Trading Platform with High Leverage Options And Strong Security
  12. Poloniex – Popular Crypto Exchange With Low Fees And An Easy Sign-Up Process
  13. Bitget – Offers A Competitive Fee Structure With High Security
  14. Bitrue – Easy-to-Use Platform With Rewards and Staking
  15. Crypto.com – Instantly Buy Crypto With ACH on a Fee-Free Basis

Reviewing the Top Bitcoin Exchanges

Below we review the 15 best crypto exchanges in 2024. Each exchange comes with its own pros and cons, so investors will need to consider their top priorities before making a decision.

1. eToro – Multi-asset CFD Platform With 30m Users

eToro stands out as our top choice for the best crypto exchange in 2024, offering an array of trading options and a simple interface for viewing, exploring, and trading cryptocurrencies securely.

One of the biggest draws of eToro is that it offers a novel copy trading tool, which allows traders to automatically replicate the orders of seasoned investors — ideal for beginners. Users can also choose from their Smart Portfolios, which are pre-selected collections of assets and a great choice for investors who want a diversified portfolio.

Traders can start with depositing using e-wallets and bank transfers to fund their trading accounts. Fees on the eToro exchange are some of the lowest in the industry, with traders paying a commission of just 1% of the total transaction amount.

eToro mobile wallet
eToro has been operating since 2007 and is a top-rated exchange with over 30 million traders worldwide. It also supports dozens of new cryptocurrencies and offers staking services for select proof-of-stake cryptocurrencies, providing an additional avenue for potential returns.

The platform has a range of security features, including two-fact authentication (2FA). Customer support is available through live chat, email, and a 24/7 chatbot.

Finally, eToro offers a crypto wallet app for iOS and Android, allowing traders to manage their holdings and trades on the go.

Number of Cryptos 70+
Fiat Deposit Fees No fees on USD deposits. 0.5% on non-USD payments.
Fee to Buy Bitcoin 1% plus the market spread
Proprietary Wallet? Yes
Top Features
Heavily regulated; Proprietary web and mobile wallet; No deposit fees on USD payments, including debit cards; copy trading and Smart Portfolio options

Pros pros

  • Supports Bitcoin and 90 of the best altcoins
  • A low minimum deposit amount (varies according to region).
  • No deposit fees on USD
  • Smart portfolios and copy trading tools
  • Native web and mobile wallet

Cons cons

  • Non-USD payments attract a 0.5% deposit fee

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2. Kraken – Trade Crypto With Leverage of up to 5x

Kraken was founded in 2011 and launched its proprietary crypto exchange in 2013. It supports over 200 cryptocurrencies on its spot trading platform, including everything from Bitcoin, Cosmos, and Waves to Polygon, Ripple, and Ethereum.

Kraken also supports margin trading with leverage of up to 5x on over 100 markets. Higher margin trading limits are available to professional crypto traders.

Kraken review

While Kraken isn’t the cheapest crypto exchange in the market, its fees are still reasonable. For example, spot trading fees amount to 0.26% for market takers. This fee is reduced when trading volumes increase.

Margin trading fees average 0.02% for every four hours that the position remains open. In terms of deposit fees, Kraken charges 3.75% on debit/credit cards. ACH and wire transfers are much cheaper. Finally, Kraken does not offer a proprietary crypto wallet.

Number of Cryptos 200+
Fiat Deposit Fees 3.75% on debit/credit cards. Local banking methods, such as ACH, are much cheaper.
Fee to Buy Bitcoin Up to 0.26%
Proprietary Wallet? No
Top Features Founded in 2011; More than 200+ cryptos supported; Leverage of up to 5x is available on 100+ markets

Pros pros

  • One of the best crypto exchanges for margin trading
  • Supports over 200 crypto pairs
  • Founded in 2011 and launched in 2013
  • Offers advanced trading tools for seasoned investors

Cons cons

  • 3.75% charge on debit/credit card payments
  • Does not clearly display deposit fees

3. Coinbase – Safe Crypto Exchange With Top Security Features

Coinbase was founded in 2012 and now boasts a customer base of over 100 million traders. The exchange is regulated in the US and offers a safe environment to buy and sell over 250 cryptocurrencies. We did, however, find that Coinbase is expensive across both payments and trading commissions. For example, there is a standard commission of 1.49% on buy and sell orders.

But when trading less than $200 worth of crypto, a less favorable flat fee kicks in. Depositing funds with a debit/credit card or PayPal will attract fees of 3.99%. This includes the commission but is still expensive nonetheless. Nonetheless, many traders are attracted to Coinbase for its simple investment process. Moreover, security features are industry-leading.

Coinbase review

This includes mandatory two-factor authentication when logging into the account and withdrawing funds. Coinbase also keeps 98% of client digital assets in cold storage. Coinbase offers both a web and mobile trading platform, Coinbase also enables clients to earn passive income via staking. Polkadot and Avalanche come with the best APYs at 14.34% and 8.935 respectively. However, do note that staking is not available to US clients.

For more details, read our full Coinbase review.

Number of Cryptos 250+
Fiat Deposit Fees 3.99% on debit/credit cards and Paypal
Fee to Buy Bitcoin From 1.49%
Proprietary Wallet? Yes
Top Features
Safe and secure trading environment; Over 250 cryptos supported; Offers a noncustodial wallet

Pros pros

  • Buy and sell more than 250 cryptos
  • Easily deposit funds with a debit/credit card or Paypal
  • No fees on domestic bank transfers
  • Earn interest on idle tokens via staking

Cons cons

  • 3.99% deposit fee to buy crypto with a debit/credit card

4. Gate.io – Low Fee Crypto Platform With 1700+ Cryptos

Gate.io is a global cryptocurrency exchange offering a wide range of services, including spot trading, leverage trading, futures, ETFs, period investment plans, margin lending and borrowing, and NFT trading. It’s one of the oldest crypto exchanges, launched in China in 2013 (rebranded as Gate.io in 2017) With over 1,700 cryptocurrencies available, it caters to both beginner and advanced traders. 

Gate.io provides educational resources for new users but has a complex interface that may be challenging for beginners. Notably, it is not available in the US. The company has announced plans to launch in the US, but Gate US is yet to launch. While the site was the victim of a major hack in 2018, they’ve revamped their security mechanisms and are now rated as a top exchange in terms of security by CER.

gate.io trading page

Gate.io offers features like trading bots, copy trading, and sub-accounts for diverse investment strategies. Users can earn passive income through Gate.io Earn, with APR ranging from 1.5% to 50%. 

The platform offers various VIP tier levels based on trading volume, which determines discount rates, fees, and interest rates. Deposits are free on the platform, while maker and taker fees range from 0.2% to 0.036%, depending on the tier level.

Number of Cryptos 1700+
Fiat Deposit Fees No deposit fee
Fee to Buy Bitcoin From 0%
Proprietary Wallet? Yes
Top Features
Largest crypto exchange for volume and liquidity; spot trading and derivative markets; Trading commissions start from 0% on selected pairs; Earn passive income through staking and other APY tools

Pros pros

  • Supports over 1,700 cryptocurrencies
  • NFT platform
  • No minimum deposit to open account
  • Spot trading and margin trading
  • Super-low trading fees

Cons cons

  • High deposit fees
  • Difficult to use for beginners
  • No fiat withdrawals

5. MEXC – Low Fee Exchange in 170+ Countries Supports Over 1700 Cryptos

MEXC was founded in 2018 and is available in over 170 countries, servicing 10+ million users. It is a feature-rich exchange developed by experts from the banking industry and supports 1.4 million transactions per second to offer traders unrivaled efficiency and performance.

MEXC is our next best crypto exchange, supporting over 1600 coins and offering spot trading with 0% fees. It also offers margin trading and futures trading with up to 200x leverage and maker and taker fees of 0.00% and 0.02%, respectively. MEXC features 1:1 proof-of-reserve for all users’ personal assets in Spot, Fiat, and Futures wallets, as well as users’ crypto holdings of ETH, BTC, USDT, and USDC.

MEXC Homepage

MEXC offers traders multiple advanced features, including advanced charting tools featuring indicators and drawing tools, alongside an order book view. MEXC also offers features for those just starting their trading journey, including a copy trading feature, allowing traders to automatically mirror the activity of successful traders‚ and a savings feature, which allows them to lock a variety of coins to earn varying APRs. MEXC also places itself as one of the most highly rated exchanges that don’t require personal information.

On the MEXC platform, users can buy cryptos and make deposits using a debit/credit card or via bank transfer, from others using a peer-to-peer trading feature, and can use Apple Pay and Google Pay to purchase crypto through third-party payment providers.

MEXC Copy Trading Feature Banner

A MEXC mobile app for iOS and Android allows users to access their accounts and make trades on the go—exceptionally important in the fast-paced world of cryptocurrencies.

Finally, the MEXC exchange has the MX token. Holders of this token can vote on business decisions, get discounts in certain trading scenarios, access free airdrops, and more. All-in-all, MEXC is the best crypto exchange in 2024, offering a wealth of features and cryptocurrency trading options to its users.

While MEXC is available in most countries, it’s not currently supported in the US. For US traders, we recommend Coinbase or Binance.

Number of Cryptos 1600+
Fiat Deposit Fees 2% fee for USDT purchase with debit/credit card
Fee to Buy Bitcoin 0%
Proprietary Wallet? No
Top Features
0% spot trading fees; advanced charting features; Copy trading for copying other seasoned traders; future trading with 200x leverage; 1:1 proof-of-reserves for BTC, ETH, and other assets; professionally developed platform supporting 1.4m transactions per second.

Pros pros

  • 1600+ coins
  • Margin and futures (200x leverage) trading
  • Competitive fee structure
  • Fee-free spot trading
  • Copy trading feature

Cons cons

  • Proof-of-Reserves is only for some assets
  • Access and features limited in some regions

6. OKX – Leading Crypto Exchange With Low Fees and Passive Income Services

OKX is one of the most highly-rated P2P crypto exchanges that offers a wealth of trading services. Its crypto spot trading platform offers some of the lowest trading fees available. Traders will pay just 0.1% on each buy and sell order. OKX offers even lower commissions when traders meet 30-day trading volume milestones.

The main OKX exchange supports over 370 markets, including some of the best long-term cryptocurrencies and best low-cap cryptocurrencies.

OKX review

We found that OKX is also one of the best decentralized exchanges for earning passive income. For instance, traders can buy Bitcoin and then deposit the tokens in a savings account to earn an APY of 5%. Tokens like Near Protocol and Elrond offer even higher yields, at 35.5% and 36% respectively—making one of the best crypto staking platforms.

Based on our extensive OKX review we found that it supports more advanced crypto trading products, such as perpetual swaps, futures, and options, and it offers a crypto wallet app to its customers. This is a noncustodial wallet, meaning investors have control over their private keys.

OKX also offers traders more advanced analysis tools, including an integration with TradingView and charting timeframes that range from one second to three months.

Number of Cryptos 370+
Fiat Deposit Fees Built into the exchange rate
Fee to Buy Bitcoin Up to 0.1%
Proprietary Wallet? Yes
Top Features
Earn interest on idle cryptocurrencies; Over 370+ spot trading markets; Also offers a DEX with thousands of supported tokens; Low trading fees; Supports crypto derivative trading

Pros pros

  • Spot trade over 370 cryptocurrencies at 0.1% per slide
  • Earn high yields via crypto savings accounts and staking
  • Proprietary wallet with noncustodial storage
  • Trade crypto derivatives, including futures and options

Cons cons

  • Fiat deposit fees are not displayed until the order is created

7. ByBit – Exchange With Low Fees, High Leverage, and Strong Security

Bybit, launched in 2018 and headquartered in Dubai, is among the top crypto exchanges. Originally focused on derivatives, Bybit has expanded to include spot trading and other offerings.

It also allows up to 100x leverage on perpetual contracts, targeting seasoned traders. It has a competitive fee structure, with maker fees as low as 0.06%, taker fees starting from 0.01% for standard traders, and even lower for VIPs. 

Bybit’s advanced matching engine processes up to 100,000 transactions per second, ensuring fast and reliable trading.

ByBit Exchange Homepage

Security is a top priority, with measures like cold storage and two-factor authentication in place. Additionally, customer support is available 24/7, and the platform offers over 220 trading pairs.

Also, the registration is simple, requiring basic verification and KYC completion. Bybit supports various order types to suit different strategies and features an NFT marketplace and an insurance fund for market volatility protection.

Deposits on Bybit are free, with several cryptos accepted. Withdrawal fees and minimums vary by currency. 

The platform also offers a mobile app, trading bot, Bybit Card for fund access, and additional features like a Launchpool for staking, a referral program, and a VIP program.

Number of Cryptos Over 220 trading pairs
Fiat Deposit Fees Free
Fee to Buy Bitcoin 0.06% Maker fee, 0.01% Taker fee
Proprietary Wallet? Yes
Top Features Derivatives and spot trading, high leverage (up to 100x), advanced matching engine

Pros pros

  • High leverage on derivatives.
  • Low trading fees.
  • Fast, reliable trading engine.
  • Comprehensive customer support.

Cons cons

  • May not be available in all regions.

 

8. Pionex – Trade 370+ Cryptos Using an Auto Trading Bot

Pionex is an innovative trading platform that allows traders to access its auto-trading bots. This popular platform is used by more than 100,000 customers across 100+ countries. 

Pionex home

Notably, Pionex supports futures and spot trading on more than 370 cryptocurrencies. Its unique selling point is the trading bot – equipped with 16 different trading options. For example, the ‘Grid Trading Bot’ will look to purchase tokens at a low price and sell them for a profit. It automatically navigates the markets 24/7 to find the best entry point. 

Then there is the ‘Leveraged Grid’ – which applies leverage to your trades in hopes of increasing the returns. Beginners can also access the demo account – and practice trading on Pionex with virtual funds. 

Through ‘Pionex Earn’ – you can also generate passive income by staking cryptos. Other innovative features include ‘PionexGPT’ – an AI-trading tool that lets you generate customized trading strategies. 

On Pionex, investors pay as little as 0.05% per transaction. One can purchase cryptos using multiple fiat methods – including bank transfer, VISA, Mastercard, and Apple Pay. 

Number of Cryptos 370+
Fiat Deposit Fees No additional deposit fees
Fee to Buy Bitcoin Starting from 0.05%
Proprietary Wallet? No
Top Features Auto trading crypto bots, demo accounts, PionexGPT – uses AI to generate trading strategies

Pros pros

  • Access an automated crypto trading bot
  • Generate trading strategies using AI
  • Pay low crypto trading fees
  • Multiple fiat payment methods

Cons cons

  • Lacks advanced trading features

9. KuCoin – Exchange With Low Fees and Advanced Trading Features

Founded in 2017, KuCoin is a promising crypto exchange serving 20 million users across over 200 countries.

Hosting over 700 cryptos and 1000 trading pairs, KuCoin caters to a diverse group of traders by including well-known and emerging coins. 

The platform supports various trading options like spot trading, futures, margin trading, and staking, all with competitive fees. Its spot trading fees are notably low, starting at 0.1%, and it offers futures trading with up to 100x leverage.

KuCoin Exchange Homepage

KuCoin prioritizes security through advanced measures such as micro-withdrawal wallets, strong encryption, and multi-factor authentication. It also provides proof of reserves, improving its overall transparency and trustworthiness.

The exchange’s user interface is sleek and user-friendly, appealing to new and experienced traders. It also offers an API for automated trading and a mobile app for convenient on-the-go trading.

Furthermore, KuCoin’s native token, KCS, offers users benefits like trading fee discounts, access to token sales, and dividends. 

Features like the KuCoin Spotlight for IEOs and a Trading Bot for automated strategies help keep the platform ahead in the industry.

However, users should be aware of KuCoin’s regulatory compliance in their regions, as some services may not be available in all countries.

Number of Cryptos 700+
Fiat Deposit Fees Varies
Fee to Buy Bitcoin 0.1% for Spot Trading
Proprietary Wallet? Yes
Top Features Diverse trading options (spot, futures, margin, staking), low fees, high leverage (up to 100x), user-friendly UI

Pros pros

  • Over 700 cryptos are available.
  • Low spot trading fees.
  • High leverage options.
  • Advanced security features.

Cons cons

  • Regulatory concerns in some regions.

 

10. PrimeXBT – Offers High Leverage And a Secure Trading Platform

Founded in 2018 and based in Seychelles, PrimeXBT is a promising crypto exchange with over 1 million users from 150 countries, executing more than 170,000 daily trades.

PrimeXBT offers diverse trading services, including crypto futures, global markets, copy trading, and the PrimeXBT Turbo feature. 

This suits beginners and seasoned traders, with leverage options up to 1:200, allowing traders to magnify their trading positions for potentially higher gains but with increased risks.

The platform has competitive fees, charging 0.01% for makers, 0.02% for takers in crypto futures, and a uniform 0.05% for global markets and copy trading.

Prime XBT Homepage

PrimeXBT does not charge deposit fees, though withdrawal fees depend on the specific crypto and network.

Additionally, security on PrimeXBT is strong, including advanced cybersecurity measures, two-factor authentication (2FA), Bitcoin address whitelisting, cold storage with multi-signature technology, and hardware security modules (HSMs), all contributing to a secure trading environment.

PrimeXBT supports over 50 markets, including cryptos, traditional markets, and more. The platform offers multiple deposit methods, including cash/fiat and third-party services, although it does not directly accept bank card deposits.

Number of Cryptos Over 50 markets (including cryptos)
Fiat Deposit Fees Depends on third-party services
Fee to Buy Bitcoin 0.05% for global markets and copy trading
Proprietary Wallet? Yes
Top Features High leverage (up to 1:200), diverse trading services (crypto futures, global markets, copy trading)

Pros pros

  • High leverage up to 1:200.
  • Diverse trading services offered.
  • Competitive trading fees.
  • Strong cybersecurity measures.

Cons cons

  • Limited direct fiat deposit options.

11. Margex – Promising Trading Platform with High Leverage Options And Strong Security

Margex is an emerging crypto trading platform that differentiates itself by focusing on derivatives trading and customizable leverage, offering up to 100x leverage. 

It is worth noting that this high leverage can significantly increase potential returns but raises the stakes, as losses can be equally magnified.

Security is a top priority for Margex, which uses advanced security protocols to protect user assets and personal information. 

Margex is also user-friendly, suitable for traders of all skill levels, and offers various educational materials on crypto trading and market analysis.

Margex Exchange Homepage

The platform’s affiliate program is another highlight, offering attractive referral commissions. Margex provides API access for seamless integration with third-party trading bots and algorithmic systems for more seasoned traders and institutions, showing its adaptability and appeal to various trading styles.

Margex supports several fiat and popular cryptos like Ethereum, Bitcoin, EOS, and Litecoin, allowing diverse trading options. 

The platform’s deposit and withdrawal system is streamlined for user convenience, enabling easy access to funds. 

Margex’s high-leverage options, strong security, educational resources, and user-friendly operations make it a promising choice for crypto trading.

Number of Cryptos 30+ (Supports popular cryptos like BTC, ETH, EOS, LTC)
Fiat Deposit Fees Depends on third-party providers
Fee to Buy Bitcoin Maker Fee  – 0.019%, Taker Fee – 0.06%
Proprietary Wallet? No
Top Features Focus on derivatives, customizable leverage (up to 100x), strong security, user-friendly

Pros pros

  • Customizable leverage up to 100x.
  • Strong focus on security.
  • User-friendly for all levels.
  • Educational resources available.

Cons cons

  • More suitable for experienced traders.

 

12. Poloniex – Popular Crypto Exchange With Low Fees And An Easy Sign-Up Process

Founded in 2014, Poloniex is a promising crypto exchange that supports 400+ cryptos, offering a diverse range of assets for trading. The platform allows trading with several fiat currencies, including USD, EUR, AUD, CAD, CHF, and more.

Poloniex accepts various payment methods, including credit and debit card deposits. It also provides a mobile app for Android and iOS, supporting all features available on the web exchange.

The platform uses strict security measures, including air-gapped cold storage for Bitcoin, 24/7 exchange monitoring, and optional two-factor authentication for users.

Poloniex Exchange Homepage

Poloniex uses a maker-taker fee structure for both spot and margin trading, with the fees varying based on the trader’s 30-day trading volume. For spot trading, the maker fee ranges from 0% to 0.145%, and the taker fee from 0.155% to 0.16%. In futures trading, the maker fee is 0.02%, and the taker fee is 0.05%.

Poloniex is accessible to beginner and experienced traders and has a quick and simple signup and identity verification process.

Number of Cryptos 400+
Fiat Deposit Fees Does not support fiat deposits
Fee to Buy Bitcoin Spot Trading: Maker 0%-0.145%, Taker 0.155%-0.16%
Proprietary Wallet? Yes
Top Features Diverse range of trading assets, Strict security measures, Mobile app, Easy signup

Pros pros

  • Supports over 400 cryptos.
  • Multiple fiat currency trading options.
  • Robust security measures implemented.
  • Low maker-taker fee structure.

Cons cons

  • Limited features for advanced traders.

 

13. Bitget – Offers A Competitive Fee Structure With High Security

Established in 2018 and headquartered in Seychelles, Bitget is a growing global crypto that supports over 500 cryptos for spot trading. It provides various futures trading options, including USDT-Margined, USDC-Margined, and Coin-Margined futures.

The platform’s user interface offers customizable charts via TradingView, and the mobile app is highly rated for its optimized experience.

A key feature is its copy trading platform, the largest globally, allowing users to emulate the trades of experienced traders. The platform also offers advanced trading bots like Spot Grid and Martingale for automated trading strategies.

Bitget Exchange

Additionally, Bitget Earn enables users to earn passive income with up to 30% APR on many cryptos. Also, the trading fees are competitive, at 0.1% for spot trading and 0.02% to 0.06% for futures trading.

The platform also has a protection fund and extensive eKYC procedures in place to ensure adequate security. It also has a high score from CertiK and a Proof-of-Reserves system with a 200% reserve ratio. However, it’s unavailable in the US and some sanctioned countries.

For more details, read our Bitget review.

Number of Cryptos 500+
Fiat Deposit Fees Free
Fee to Buy Bitcoin Spot Trading: 0.1%; Futures: Maker 0.02%, Taker 0.06%
Proprietary Wallet? Yes
Top Features Copy trading platform, Advanced trading bots, Bitget Earn for passive income.

Pros pros

  • Over 500 cryptocs for spot trading.
  • Advanced copy trading and trading bots.
  • Competitive trading fees.
  • High security and reserve ratio.

Cons cons

  • Unavailable in the US and some countries.

 

14. Bitrue – Over 700 Cryptos with Extensive Rewards and Earning Programs

Bitrue, a prominent Singapore-based cryptocurrency exchange established in 2018, has gained recognition for its extensive range of offerings, reward program, and emphasis on security. Bitrue supports over 700 cryptocurrencies, including popular options like Bitcoin, Ethereum, Tether, Ripple, and its native BTR token.

The exchange offers a clean interface and full-featured platforms with a Rewards Center with ongoing contests to win. Past prizes included a $1 million bonus, split amongst lucky winners. Initiatives like Yield Farming and Power Piggy allow users to earn returns on their crypto assets through lending and staking mechanisms.

bitrue home page

The platform offers spot trading, leveraged tokens, futures trading, crypto-backed loans, staking, and automatic investments as trading options. A large selection of leveraged tokens gives traders the ability to bet long or short on specific crypto assets with 3x leverage as easily as making a spot trade.

There are some drawbacks. Trading exclusively relies on the trader’s own funds without leverage, and there is no option to withdraw in fiat currencies. Additionally, customer support is only available via email, lacking real-time chat functionality.

Number of Cryptos 700+
Fiat Deposit Fees 3.5% or $10 charge
Fee to Buy Bitcoin From 0.098%
Proprietary Wallet? Yes
Top Features
Easy-to-use crypto exchange with diverse trading options; spot trading and derivative markets; Leveraged ETFs; Earn passive income through staking; Rewards program

Pros pros

  • 700+ cryptocurrencies
  • Suitable for beginners
  • Rewards program
  • Supports futures, options, and leveraged tokens

Cons cons

  • Limited customer support
  • No fiat withdrawal

15. Crypto.com – Instantly Buy Crypto With ACH on a Fee-Free Basis

Crypto.com is one of the best crypto exchanges for buying digital assets with ACH. Not only are ACH deposits fee-free, but they are processed instantly. To avail of this service, investors will need to use the Crypto.com app. This is free to download and available on both iOS and Android devices. The Crypto.com app also supports instant debit/credit card payments, but this is charged at 2.99%. Crypto.com supports over 250 digital assets, which is ideal for diversification.

Crypto.com review

Trading fees are super-low, with commissions starting at just 0.075%. Lower commissions can be secured when trading higher amounts. Crypto.com is also one of the best crypto exchanges for earning passive income. This includes APYs of up to 6.5% on Tether, USD Coin, and Dai. Bitcoin and Ethereum come with a top APY of 1.5% and 2%, respectively. Do note that APYs are dependent on the lock-up period and the amount deposited. Other popular features at Crypto.com include loans, a decentralized wallet, and an NFT marketplace.

Number of Cryptos 250+
Fiat Deposit Fees ACH deposits are fee-free. Debit/credit cards cost 2.99%
Fee to Buy Bitcoin Up to 0.075%
Proprietary Wallet? Yes
Top Features Earn up to 6.5% on stablecoin deposits. Fee-free and instant ACH payments; Over 250 cryptos supported

Pros pros

  • Buy crypto instantly with ACH on a fee-free basis
  • Trade over 250 cryptos
  • Competitive APYs on crypto savings accounts
  • Noncustodial wallet app for iOS and Android

Cons cons

  • 2.99% charge on debit/credit card payments
  • Required to use the Crypto.com app for fiat deposits

What is a Cryptocurrency Exchange?

Crypto exchanges are third-party trading platforms that allow investors to buy and sell digital assets.

While some exchanges focus on large-cap cryptocurrencies like Bitcoin and Ethereum, others support hundreds of altcoins. The trading process at crypto exchanges works much like a stock broker. For example, traders will need to register an account by providing some personal information and then make a deposit.

MEXC crypto markets page

If a deposit is being made with fiat money, then the exchange will need to collect some ID. This is to ensure that the exchange complies with anti-money laundering regulations. After that, traders can buy their chosen cryptocurrency, often by paying a small commission.

This is how crypto exchanges make money. Most crypto exchanges offer a proprietary wallet. This allows traders to store their crypto tokens without needing to use an external wallet.

When reviewing the best Bitcoin exchanges, we also found that top providers offer passive investment tools. For example, eToro offers copy trading; enabling clients to invest without actively buying and selling crypto themselves. MEXC, OKX, and Binance also offer interest-bearing accounts. This allows investors to earn an APY on idle crypto tokens.

How do Cryptocurrency Trading Platforms Work?

Cryptocurrency exchanges largely work in the same way. As noted above, traders need an account that is funded with fiat money, which can then be exchanged for crypto. The best crypto exchanges accept convenient payment methods, such as debit/credit cards, ACH, and e-wallets.

  • When trading at an exchange, there needs to be a seller at the other end of the trade.
  • This is why liquidity is so important when choosing an exchange.
  • If there aren’t sufficient levels of liquidity, then traders will struggle to buy or sell their chosen crypto.
  • Some exchanges offer interest to traders that provide liquidity.

Without liquidity, traders may not be able to exit their positions whenever they want. That’s why choosing an exchange with a large number of users, like eToro with 30 million users, is important as it enables you to facilitate trades when you want to make them.

How to Pick the Best Bitcoin Exchange for You?

All crypto exchanges are different, and choosing one that has the features, coins, and other elements that fulfill your needs is crucial to facilitating a great trading experience. For example, there are traders always looking for the best exchange for buying new cryptocurrencies.

Here are some tips on how to choose the best crypto exchange in 2024:

Regulation

Unlike stock brokers, most crypto exchanges operate without a regulatory license. This is because crypto assets are unregulated financial products in most countries. Finding one that is regulated in your region allows for a certain level of peace of mind.

Tradable Cryptos

One of the most effective crypto trading strategies is to diversify across many different tokens. As such, the best crypto exchanges offer a wide range of cryptos to choose from.

MEXC supports more than 1600 cryptos, covering both large-cap and small-cap projects.

MEXC BTC spot trading exchange

Another way to diversify is to use a copy trading service, which allows you to automatically copy the trades of seasoned traders. Multiple exchanges now offer this feature.

Fees

The best crypto exchanges offer low deposit and trading fees, these can vary by payment method, will many platforms offering fee-free deposits from bank accounts and charging for debit/credit card or e-wallet deposits.

Trading commissions are also an important factor to consider. For example:

  • OKX charges just 0.1% on buy-and-sell orders
  • eToro charges 1% commission
  • MEXC offers spot trading with a 0% commission

Do note that some exchanges offer cheaper trading commissions when fees are paid in the platform’s native token or that token is held for a certain amount of time. Binance, for example, offers a 25% reduction in fees when paying in BNB, and MEXC offers a 50%  discount on futures trading fees for those who hold a spot position of 1000 MX for more than 15 consecutive days.

Some crypto exchanges also offer reduced commissions when trading larger amounts. This is usually based on trading volumes in the previous 30 days.

Wallet

While most Bitcoin trading platforms offer a proprietary wallet, the likes of Kraken do not. This means that traders will need to use a private wallet to ensure their tokens are being stored safely.

Some platforms offer native custodial wallets, including mobile versions, while others offer noncustodial wallets, giving their users full control over their private keys and their crypto.

Tools & Features

The best crypto exchanges offer tools above and beyond just trading services.

For example:

  • eToro offers a copy trading tool. This enables investors to mirror the crypto investments of a successful trader. Once a user has signed up to copy a specific trader’s moves, the platform automatically copies all their trades with the user’s assets.
  • OKX offers a range of passive income tools. This includes crypto savings accounts with competitive APYs. Unlike other crypto exchanges, OKX does not have any minimum lock-up requirements. As such, investors can withdraw their tokens from an OKX savings account whenever they want.
  • Binance offers crypto derivatives, which will appeal to advanced traders. This includes both futures and options with leverage and short-selling capabilities. Binance also offers advanced charting tools and technical indicators.

Do note that some crypto exchange tools might only be available in certain countries (such as leverage).

Payment Methods

Choosing the best Bitcoin exchange also requires investors to evaluate what payment methods are available. After all, traders cannot buy crypto without first making a deposit.

Most of the exchanges discussed today support debit/credit card payments, but fees can and will vary considerably. For example, the industry average on debit/credit card payments is 3-5%. Whereas eToro doesn’t charge any clearance fees, the only fee charged will be from your card provider.

Some crypto exchanges also accept e-wallets like PayPal and Neteller. Local bank transfers, such as ACH and SEPA, are often processed by crypto exchanges fee-free.

Customer Service

Another important factor to consider when choosing the best Bitcoin trading platform is customer service. Most exchanges operate on a global basis, so customer service should be available 24 hours per day, seven days per week.

Moreover, it is best to choose an exchange that offers customer service via live chat. This will prevent the need to wait for an email reply.

Mobile App

The crypto markets are super-volatile at times, so having access to the best crypto apps is crucial. This enables investors to buy or sell a crypto asset at the click of a button.

The eToro app is a great option in this regard. Available on both iOS and Android, the eToro app allows users to place trades while on the go, with all the market information they need available in the palm of their hand.

Experienced traders might also like the OKX app. This is a noncustodial app that doubles up as a crypto wallet.

Are Cryptocurrency Exchanges Legal?

The legal status of a crypto exchange will invariably depend on the countries in which it operates.

For example:

  • Most crypto exchanges in the US are structured as ‘money service businesses,’ which requires them to be registered with FINRA. This ensures that the crypto exchange complies with anti-money laundering regulations; meaning clients need to be identified when opening an account.
  • In the UK, most crypto exchanges are registered with the FCA. This ensures that suitable due diligence is conducted on new client accounts. However, crypto assets are not regulated financial products in the UK, so FCA registration is not mandatory.
  • This is a similar story in Australia, where crypto exchanges are not legally required to be regulated by ASIC. However, exchanges must be registered with AUSTRAC for the purpose of preventing financial crime.
  • Similarly, in Canada, domestic crypto exchanges must be registered with FinTRAC. This comes with a range of obligations, such as reporting single crypto trades of over $10,000. FinTRAC also ensures that trading guidelines for retail clients are met, especially when it comes to risk warnings and leverage.

Ultimately, crypto exchanges operate in a great area in most countries. This is because cryptocurrencies like Bitcoin and Ethereum are not defined as legal tender. Therefore, this enables crypto exchanges to circumvent many of the rules required for stock brokerages.

Are Bitcoin Exchanges Safe?

There are several hundred crypto exchanges in the market, most of which are unregulated and lack sufficient levels of liquidity. In comparison, the 15 best crypto exchanges discussed on this page offer a safe and secure trading environment to many millions of clients.

However, investors are still advised to do their own homework before opening an account with a crypto exchange.

Here’s what to consider:

  • Regulation: Checking whether or not a crypto exchange is regulated is a surefire way of knowing if it’s credible. Moreover, even if the exchange is regulated, this should be by a reputable financial body such as FINRA, FCA, CySEC, and ASIC—these represent some of the most globally trusted regulators.
  • Cold Storage: The best crypto exchanges keep the vast majority of client digital assets in cold storage. Put simply, this means that the tokens are kept offline. This means that hacking attempts are unlikely to be successful, as the tokens are not connected to live servers.
  • Account Safeguards: There should be sufficient security safeguards offered by the chosen crypto exchange. Many platforms now offer two-factor authentication. This means that when logging in, a code will be sent to the user’s registered phone number or email address. The user will then need to enter the code to confirm they are the true owner of the account. Other safeguards to look for include device and IP address whitelisting.
  • Reputation and Client Base: It is also wise to assess the broader reputation of a crypto exchange, this can often be done by looking at reviews and the number of users an exchange has. For example, eToro is used by over 30 million clients globally.

Crucially, while fees, supported assets, and other factors are important; safety should be the main priority.

How do Crypto Exchange Fees Work?

We briefly discussed crypto exchange earlier; but here’s a more comprehensive overview of what to expect.

Deposits and Withdrawals

Some crypto exchanges charge deposit and withdrawal fees. This will often depend on the preferred payment type.

Debit/credit card and e-wallet payments are usually the most expensive, averaging 3-5%. At MEXC, this fee is lower, at approximately 2%.

Many crypto exchanges offer fee-free deposits and withdrawals via ACH, domestic bank wires, and other local networks (such as SEPA / UK Faster Payments).

When depositing crypto, rarely do fees apply. However, crypto withdrawals will often attract a fee. This should mirror the blockchain network fee at the time of the withdrawal.

Trading Commissions

Most crypto exchanges make money by charging trading commissions. This is usually a percentage of the trade amount. For example, OKX charges a commission of 0.1%. This means that for every $1,000 traded, a fee of just $1 will apply.

MEXC copy trading top traders

Coinbase, however, charges 1.49%. This means that the same $1,000 trade will attract a fee of $14.90.

As noted earlier, reduced trading commissions are sometimes offered on larger volumes or when paying in the exchange’s native token.

Market Spread

Market spreads will almost always apply when trading cryptocurrencies, even if this isn’t clearly displayed by the exchange. This refers to the gap between the ‘bid’ and ‘ask’ price.

  • For example, let’s suppose that Ripple is trading at $0.50
  • When buying Ripple, traders might pay $0.51
  • When selling Ripple, traders might ask for $0.49
  • The gap between the two prices offers a guaranteed profit for the exchange, regardless of whether Ripple rises or falls in value.

Many of the crypto exchanges that we came across do not quote the market spread. As such, traders will often need to calculate this themselves.

How to Use a Cryptocurrency Exchange?

Complete beginners will appreciate the step-by-step walkthrough below – where we explain how to sign up and begin trading at eToro.

Step 1: Open an eToro Account

First, visit the eToro website and click on ‘Get Started’.

etoro crypto homepage

Sign up using your preferred method, creating a strong password in the process.

Step 2: Complete KYC Process

To comply with regulatory requirements, customers of exchanges are typically required to complete KYC. This is no different for customers of eToro. KYC requires:

  • Government-issued ID, such as a driver’s license or passport

Review of the documents and KYC approval is typically completed within 24 hours.

Step 3: Make a Deposit

Once your KYC has been approved you can buy crypto using your fiat money, such as US Dollars or Euro. First, you’ll need to add fiat to your account. Click “Deposit Funds,” and you can choose the payment method.

eToro supports the following methods:

  • Visa, Mastercard, Diners Club, or Maestro cards
  • Bank Transfer (these may take slightly longer)
  • eWallet services like PayPal

You’ll be prompted to enter the required details and review any associated fees or conversion rates before confirming.

Step 4: Buy Crypto

Now that you have fiat in your account, you can use it to buy cryptocurrency. Click on ‘Bitcoin’ in the menu bar and tap “Invesr.” Then you can choose between “Trade” (current market price) or “Order” (predefined purchase order).

Step 5: Trade Crypto

Now that you are set up, you can trade crypto on the “Spot Trading ” section or use one of the more advanced trading options.

Conclusion

Choosing the right exchange is an important step to take before buying crypto online. Investors should opt for a crypto exchange that not only offers low fees but also a safe and secure trading environment.

Overall, we rank eToro as the best crypto exchange in 2024. With support for over 70 cryptocurrencies and user-friendly tools, eToro is trusted by over 30 million users around the world.

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Kane Pepi
Editor
Kane Pepi
Editor

Kane Pepi is an accomplished financial and cryptocurrency writer who has an extensive portfolio of over 2,000 articles, guides, and market insights. With his expertise in specialized subjects such as asset valuation and analysis, portfolio management, and financial crime prevention, Kane has built a reputation for providing clear explanations of complex financial topics. He holds a Bachelor's Degree in Finance and a Master's Degree in Financial Crime, and is currently pursuing his Doctorate degree, which focuses on investigating the complexities of money laundering in the cryptocurrency and blockchain technology sectors. Kane's wealth of knowledge and experience in the field make…