Diving into cryptocurrency is like exploring a new city – you need a safe and reliable guide to show you the ropes. Just like you wouldn’t trust a shady character on a street corner with your money, you shouldn’t trust just any exchange with your crypto. Finding a trustworthy platform is crucial, especially for newbie traders and investors. It’s like choosing the right bank for your savings – you want to make sure your funds are secure and accessible, and that you have the tools and support you need to make smart decisions.
Crypto trading can be a thrilling adventure, but like any good expedition, you need a trusty map and a sturdy compass. That’s where finding the right exchange comes in. With hundreds of platforms (including DEXs and CEXs) out there, each promising riches and rocket ships, it’s easy to feel overwhelmed. But fret not, fellow beginner!

I’ve been busy exploring the crypto wilderness myself, and I’ve compiled a list of 13 top contenders for 2024. From veteran titans to rising stars, each platform has its unique strengths and weaknesses. And fear not, my journey doesn’t end there!

I’ll keep navigating through the digital jungle, testing new platforms, and sharing my findings with you, my fellow adventurers. So, pack your bags, strap on your curiosity, and let’s navigate this exciting world together, one exchange at a time!

Coin Token Listing
Standard (SpoT) Trading Fees
Supported Countries
BTC Withdrawal Fees
KYC
Headquarters
Trading Fee Discount
Credit / Debit Card
P2P Exchange
Crypto Deposit Fee
Native Token
Staking
Hack Or Security Breaches
 
Recommended
Bybit Exchange Pros and Cons
Bybit
Year Founded: 2018
Proof of Reserves:
Visit Website
Coin Token Listing
456
Standard (SpoT) Trading Fees
Maker/Taker: 0.1000%
Supported Countries
160+
BTC Withdrawal Fees
0.0005 BTC
KYC
Optional
Headquarters
Dubai, UAE
Trading Fee Discount
Yes
Credit / Debit Card
Yes
P2P Exchange
Yes
Crypto Deposit Fee
Free
Native Token
No – They do have a partner token with BitDAO (BIT)
Staking
Yes
Hack Or Security Breaches
No
Users’ Choice
Phemex Exchange Pros and Cons
Phemex
Year Founded: 2019
Proof of Reserves:
Visit Website
Coin Token Listing
280+
Standard (SpoT) Trading Fees
Maker: 0.01%
Taker: 0.06%
Supported Countries
180+
BTC Withdrawal Fees
0.00005 BTC
KYC
Optional
Headquarters
British Virgin Islands
Trading Fee Discount
Yes, 20% on Spot & 10% on Contract (for PT holders)
Credit / Debit Card
Yes
P2P Exchange
Yes
Crypto Deposit Fee
Free
Native Token
Phemex Token (PT)
Staking
Yes
Hack Or Security Breaches
No
Growing Rapidly
Kucoin Exchange Pros and Cons
KuCoin
Year Founded: 2017
Proof of Reserves:
Visit Website
Coin Token Listing
1187
Standard (SpoT) Trading Fees
Maker/Taker: 0.1%
Pay Fees with KCS (20% off)
Supported Countries
200+
BTC Withdrawal Fees
(0.001 + Amount * 0%) BTC
KYC
Optional
Headquarters
Seychelles
Trading Fee Discount
Yes
Credit / Debit Card
Yes
P2P Exchange
Yes
Crypto Deposit Fee
Free
Native Token
KuCoin Token (KCS)
Staking
Yes
Hack Or Security Breaches
Yes – 2020 Security Breach
OKX Unbiased Review
OKX
Year Founded: 2014
Proof of Reserves:
Visit Website
Coin Token Listing
482
Standard (SpoT) Trading Fees
Maker: 0.080%
Taker: 0.100%
Supported Countries
100+
BTC Withdrawal Fees
0.00055 BTC
KYC
Yes (Optional)
Headquarters
Seychelles
Trading Fee Discount
Save up to 40% on trading fees by holding OKB.
Credit / Debit Card
Yes
P2P Exchange
Yes
Crypto Deposit Fee
Free
Native Token
OKB
Staking
Yes
Hack Or Security Breaches
Yes – 2020
Rising Star
MEXC Exchange Unbiased Review 2024
MEXC
Year Founded: 2018
Proof of Reserves:
Visit Website
Coin Token Listing
2178
Standard (SpoT) Trading Fees
Maker/Taker: 0.000%
Supported Countries
180+
BTC Withdrawal Fees
0.0011
KYC
Optional
Headquarters
Seychelles
Trading Fee Discount
50% off trading fee for MX Token holders
Credit / Debit Card
Yes
P2P Exchange
Yes
Crypto Deposit Fee
Free
Native Token
MX Token
Staking
Yes
Hack Or Security Breaches
No
Bitget exchange reviews
BitGet
Year Founded: 2018
Proof of Reserves:
Visit Website
Coin Token Listing
719
Standard (SpoT) Trading Fees
0.1% Maker and Taker Fee
Supported Countries
190+
BTC Withdrawal Fees
0.0008
KYC
Optional
Headquarters
Seychelles
Trading Fee Discount
20% Discount for BGB token holders
Credit / Debit Card
Yes
P2P Exchange
Yes
Crypto Deposit Fee
Free
Native Token
Bitget Token (BGB)
Staking
Yes
Hack Or Security Breaches
No
Binance Exchange Review 2024
Binance
Year Founded: 2017
Proof of Reserves:
Visit Website
Coin Token Listing
1180
Standard (SpoT) Trading Fees
Maker: 0.1000%
Taker: 0.1000%
Supported Countries
100+ 
BTC Withdrawal Fees
0.00085
KYC
Yes (Optional)
Headquarters
Cayman Islands
Trading Fee Discount
25% on Spot & Margin trading and 10% on futures trading fees with BNB
Credit / Debit Card
Yes
P2P Exchange
Yes
Crypto Deposit Fee
Yes
Native Token
BNB
Staking
Yes
Hack Or Security Breaches
Yes – 2019
Kraken Exchange Reviews 2024 unbiased
Kraken
Year Founded: 2011
Proof of Reserves:
Visit Website
Coin Token Listing
668
Standard (SpoT) Trading Fees
Maker: 0.16%
Taker:0.26%
Supported Countries
190+
BTC Withdrawal Fees
0.0004 BTC
KYC
Yes
Headquarters
San Francisco, CA
Trading Fee Discount
No, volume based discount only.
Credit / Debit Card
Yes
P2P Exchange
No
Crypto Deposit Fee
Free
Native Token
No
Staking
Yes
Hack Or Security Breaches
No
Coinbase Pro
Year Founded: 2014
Proof of Reserves:
Visit Website
Coin Token Listing
394
Standard (SpoT) Trading Fees
Taker: 0.60%
Maker:0.40%
Supported Countries
100+
BTC Withdrawal Fees
0.0005
KYC
Yes
Headquarters
San Francisco, CA
Trading Fee Discount
no, Volume based discount only.
Credit / Debit Card
Yes
P2P Exchange
No
Crypto Deposit Fee
Free
Native Token
No
Staking
Yes
Hack Or Security Breaches
Yes – 2021
Huobi Exchange Reviews 2024
HTX (Huobi)
Year Founded: 2013
Proof of Reserves:
Visit Website
Coin Token Listing
706
Standard (SpoT) Trading Fees
Base (Maker/Taker) Fee: 0.2000%
Supported Countries
130+
BTC Withdrawal Fees
0.0004 BTC
KYC
Yes (Optional)
Headquarters
Seychelles
Trading Fee Discount
Tiered fee discount i.e. ≥10HT = 10% discount and ≥5,000HT = 65% discount
Credit / Debit Card
Yes
P2P Exchange
Yes
Crypto Deposit Fee
Free
Native Token
Huobi Token (HT)
Staking
Yes
Hack Or Security Breaches
No
Gate.io Exchange Reviews 2024
Gate.io
Year Founded: 2013
Proof of Reserves:
Visit Website
Coin Token Listing
2921
Standard (SpoT) Trading Fees
Maker: 0.2%
Taker: 0.2%
Supported Countries
184
BTC Withdrawal Fees
0.00133 BTC
KYC
Yes (Optional)
Headquarters
Cayman Islands
Trading Fee Discount
Volume based discount for GT token holders.
Credit / Debit Card
Yes
P2P Exchange
Yes
Crypto Deposit Fee
Free
Native Token
GateToken (GT)
Staking
Yes
Hack Or Security Breaches
Yes – 2014, 2015
Poloniex
Year Founded: 2014
Proof of Reserves:
Visit Website
Coin Token Listing
696
Standard (SpoT) Trading Fees
Maker: 0.1450%
Taker: 0.1550%
Supported Countries
100+
BTC Withdrawal Fees
0.0005 BTC
KYC
Yes
Headquarters
Seychelles
Trading Fee Discount
Yes, for Tron (TRX) holders
Credit / Debit Card
Yes
P2P Exchange
Yes
Crypto Deposit Fee
Free
Native Token
No native token but they have partnership with Tron (TRX)
Staking
Yes
Hack Or Security Breaches
Yes – 2014
Gemini
Year Founded: 2015
Proof of Reserves:
Visit Website
Coin Token Listing
105
Standard (SpoT) Trading Fees
Maker: 0.02%
Taker: 0.07%
Supported Countries
60+
BTC Withdrawal Fees
0.001 BTC
KYC
Yes
Headquarters
New York, United States
Trading Fee Discount
No
Credit / Debit Card
No
P2P Exchange
No
Crypto Deposit Fee
Free
Native Token
No
Staking
Yes
Hack Or Security Breaches
No
Note: The withdrawal fees and min. withdrawal amount for every coin/token varies, it mostly depends on the network that the user has selected.

What do “maker” and “taker” mean?

Makers

Add liquidity to the market: They create orders that aren’t immediately matched with existing orders, essentially adding new trading options to the order book.
Place limit orders: They specify the price at which they’re willing to buy or sell a cryptocurrency.
Wait for their orders to be filled: Their orders are not executed instantly but rather sit on the order book until a matching order comes along.
Typically pay lower fees: Exchanges often incentivize makers to create liquidity by charging them lower fees, or even offering rebates.

Example:
You place a limit order to buy 1 Bitcoin (BTC) at $20,000 when the current market price is $21,000. Your order gets added to the order book and waits for a seller to match it. If a seller comes along and agrees to sell 1 BTC at $20,000, your order will be filled, and you’ll be the maker of this transaction.

Takers

Remove liquidity from the market: They fill existing orders on the order book, taking away available options for trading.
Place market orders: They buy or sell cryptocurrencies at the best available price in the market, ensuring instant execution.
Typically pay higher fees: Exchanges charge takers higher fees because they’re consuming existing liquidity.

Example:
You place a market order to buy 1 BTC. Your order is immediately matched with the lowest available sell order on the order book, which might be $21,000. You’ll buy 1 BTC at $21,000, and you’ll be the taker in this transaction because you took liquidity from the market.

What Are Crypto Exchange Tokens or Native Token?

Imagine a loyalty program for crypto trading. Instead of earning points for buying groceries, you earn tokens for trading Bitcoin or Ethereum on a specific exchange. That’s the basic idea behind a crypto exchange token.
These are digital assets created by crypto exchanges themselves. They offer various benefits, like:
Boosting liquidity: By offering discounts on trading fees or other perks to token holders, exchanges encourage more people to use their platform, which makes it easier to buy and sell cryptocurrencies.
Encouraging trading: Holding tokens might give you extra votes in the exchange’s governance decisions, access to exclusive features, or even cashback on your trades. This makes trading more attractive and incentivizes users to hold onto their tokens.
Building a community: Owning exchange tokens can give you a sense of belonging and participation in the platform’s growth. Some exchanges even use their tokens to allow users to vote on future features or changes.
For example: Binance, a major crypto exchange, has its own token called BNB. BNB holders get discounts on trading fees, access to exclusive features like margin trading, and the ability to participate in voting on certain decisions that affect the platform.

Exchanges Overview

9.3Expert Score
Bybit

Bybit offers a variety of features including trading, conversion, lending, and crypto loans, a crypto earn program, a Bybit card, a launchpad, and an NFT marketplace. The platform also provides opportunities for staking and liquidity mining for yield generation. The exchange has a strong security record and offers a range of passive earnings. However, it only supports four spot trading coins and is not available in certain locations, including the U.S.

Beginner-Friendly?
9.6
Coin Listings
9.1
Trading Fees
9.7
Positive
  • KYC requirements, Bybit does not require extensive KYC checks, only requiring a phone number or email for registration.
  • Web3 Staking tool, a DeFi asset aggregation and investment tool.
  • Proof of Reserves available
Negatives
  • Not Available in the U.S.
9.4Expert Score
Phemex

Phemex is a Singapore-based cryptocurrency exchange that offers a variety of features and services. Read the detailed review here.

Beginner-Friendly?
9.7
Coin Listings
9.4
Trading Fees
9.5
Positive
  • Hybrid CeFi &amp
  • DeFi Model
  • Innovative Platform Features
  • Proof of Reserves available
  • Earning and Savings Programs
  • KYC Not Mandatory
Negatives
  • Restricted in Certain Countries including U.S.
  • Crypto to Crypto Pairs Not Supported.
8.9Expert Score
KuCoin

KuCoin is a Seychelles-based cryptocurrency exchange that offers a wide range of features and services. Read the detailed review here.

Beginner-Friendly?
9.8
Coin Listings
9.7
Trading Fees
9.2
Positive
  • Support for Multiple Tokens: KuCoin supports over 700 individual crypto tokens and 1253 trading pairs.
  • Innovative Platform Features
  • Proof of Reserves available
  • High Trading Volume
  • KYC Not Mandatory
  • User-Friendly Interface
Negatives
  • Restricted in Certain Countries including U.S.
  • Has been Hacked/Breached in the past.
  • Complex Account Management
8.1Expert Score
OKX

OKX supports a diverse range of cryptocurrencies, with over 400 coins available for trading. The platform has substantial exchange reserves, amounting to over $11.9 billion.

Beginner-Friendly?
8.7
Coin Listings
8.6
Trading Fees
8.7
Positive
  • Wide Range of Cryptocurrencies
  • Innovative Platform Features
  • Proof of Reserves available
  • High Liquidity
  • KYC Not Mandatory
  • User-Friendly Interface
  • Multiple Trading Options
Negatives
  • Restricted in Certain Countries including U.S.
  • Fiat Trading Limitations
  • Regulatory Status: The exchange is unlicensed and unregulated, which may concern some users about its legitimacy and long-term viability.
2
Crypto Nerd
Crypto Nerd

From an RX-580 3 card rig (Zcash) miner to a blogger, diving deep into the world of crypto. Join me in this ever-evolving journey as we unlock the potential of blockchain technology, DeFi, Web3, and crypto trading and navigate the exciting twists and turns of the crypto market. Let’s ride the wave together! 🚀🌊

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