9 Best Crypto Exchanges in March 2024 | CoinCodex

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If you want to buy or sell cryptocurrency, you’ll need to use a cryptocurrency exchange. However, there are hundreds of different exchanges competing for customers, and it can be difficult to choose the best one for you. We’ll help you narrow down your search by highlighting the best cryptocurrency exchanges on the market today, and outlining the strengths and weaknesses of each.

We selected the best crypto exchanges based on various criteria, including trading fees, track record, security, the number of cryptocurrencies offered for trading, and variety of trading products. We’ll discuss each of these criteria in more detail a bit later. For now, let’s get going with our list of the best crypto exchanges.

Here are the best centralized crypto exchanges in 2024: 

  1. Binance – The best crypto exchange overall, high liquidity and a large selection of features
  2. KuCoin – The best exchange for altcoin traders, lists more than 700 different coins
  3. Kraken – The best exchange for security, long track record of keeping customer assets safe
  4. Coinbase – The best exchange for beginners, also has a stellar track record on security
  5. Bybit – The best exchange for crypto derivatives traders, expanding set of features
  6. OKX – The best alternative to Binance, impressive selection of features

Here are the best decentralized crypto exchanges in 2024:

  1. Uniswap – The best DEX for token swaps, users can trade from their own wallet
  2. GMX – The best DEX for derivatives, offers high leverage
  3. PancakeSwap – Best DEX for BNB Chain ecosystem

The best crypto exchanges: Examining best digital asset trading platforms in 2024

In the following sections, you’ll find a selection of the best crypto centralized and decentralized crypto exchanges available on the market today. Keep in mind that the ranking of these exchanges is based on our own set of criteria, which might vary from what other users value in an exchange.

Binance

1. Binance – The best crypto exchange overall

Binance has established itself as the biggest cryptocurrency exchange in the world, leading the market in terms of both trading volume and user count. 

Trading fees Base fee is 0.1% for both makers and takers, BNB token holders benefit from lower fees
Supported cryptocurrencies More than 500 cryptocurrencies
Crypto trading pairs 1205
Daily trading volume* $44.6 billion ($67.4 billion in futures volume)

Why did we choose Binance?

The reason why we’ve selected Binance as the best crypto exchange overall is due to its highly competitive fees, large selection of cryptocurrencies, and its diverse offering of trading products and features, which makes it suitable for any type of cryptocurrency investor and trader.

On Binance, you can trade hundreds of different cryptocurrencies through spot trading, leveraged futures, or simple swaps. The huge amount of cryptocurrencies that can be traded with leverage on Binance makes it one of the best crypto margin trading platforms on the market. The exchange also offers products like lending and staking, which allow users to earn yield on their idle crypto assets.

While Binance is arguably the best platform to invest in crypto, users should note that Binance is not open to customers from the United States. If you’re from the United States, you can check out Binance.US, but it doesn’t have as many features and lists fewer cryptocurrencies.

  • Strongest liquidity among all exchanges
  • Lists hundreds of cryptocurrencies
  • Offers margin trading and crypto futures
  • Staking and lending products
  • Competitive fee structure
  • Offers a crypto debit card with crypto cashback rewards
  • Not available to traders in the United States
  • The exchange suffered a hack in 2019, with 7,000 BTC stolen

Visit Binance

Kucoin

2. KuCoin – Best for altcoin trading

KuCoin is a cryptocurrency exchange platform launched in 2017. The exchange is best known for listing many different cryptocurrencies, including low market cap coins that are difficult to find on other major exchanges. 

Trading fees Base fee is 0.1% for makers and takers, KCS holders benefit from reduced fees
Supported cryptocurrencies More than 700 cryptocurrencies
Crypto trading pairs 1092
Daily trading volume* $3.17 billion

Why did we choose KuCoin?

The exchange offers more than 700 different cryptocurrencies for trading. However, KuCoin is more than just an exchange for trading low market cap altcoins. The exchange also offers crypto futures trading, crypto lending, margin trading, NFTs and other products. The exchange has recently introduced a “Beginner Zone”, which is meant to help onboard new users into crypto and provide crypto rewards along the way.

KuCoin has become one of the biggest cryptocurrency exchanges by trading volume, and is a solid option for users that want an all-around crypto exchange. However, users should keep in mind that KuCoin is not licensed to operate in the United States.

  • Lists more than 700 different cryptocurrencies
  • Spot markets, crypto futures and margin trading
  • Lending products
  • Offers an NFT marketplace and launchpad
  • Competitive fee structure
  • Not licensed to operate in the United States
  • Suffered a significant security breach in 2020

Visit Kucoin

Kraken

3. Kraken – Best for security

The Kraken cryptocurrency exchange is an industry pioneer, as it has been operating since 2013. 

Trading fees Base fees are 0.16% for makers, 0.26% for takers. Traders with higher volumes benefit from lower fees.
Supported cryptocurrencies Over 200 cryptocurrencies
Crypto trading pairs 644
Daily trading volume* $1.96 billion

Why did we choose Kraken?

What’s even more impressive is the fact that in its decade of operation, the exchange has maintained a great track record on security, as the exchange’s wallets have never been compromised. Kraken is likely one of the safest crypto exchanges today, and gives users access to security features including 2-factor authentication and other options.

Kraken also offers a solid selection of cryptocurrencies, although it doesn’t list quite as many coins as rivals like Binance and KuCoin. However, you’ll still likely be able to find the coins you want to buy on Kraken, as long as you’re not interested in cryptocurrencies with a very low market cap. 

Kraken is one of the best Bitcoin exchanges because it allows users to trade BTC and other cryptocurrencies directly against fiat currencies. This simplifies the process of investing in crypto and then cashing out when the time is right.

  • A very good track record on security
  • Great customer support
  • Customizable trading interface
  • Offers markets denominated in fiat currencies
  • Supports taking for several cryptocurrencies
  • Lists fewer cryptocurrencies than some competitors
  • Trading fees are higher than some competitors

Visit Kraken

Coinbase

4. Coinbase – Best for beginners

Coinbase is one of the leading cryptocurrency exchanges, and has been operating successfully since its launch in 2012. 

Trading fees Base fees are 0.60% for takers and 0.40% for makers, users with higher trading volume benefit from lower fees.
Supported cryptocurrencies More than 200 cryptocurrencies
Crypto trading pairs 381
Daily trading volume* $6.32 billion

Why did we choose Coinbase?

Coinbase has a very good track record on security, as the exchange’s wallets have never been hacked. Coinbase is a publicly-traded company in the United States, so there’s more transparency about its operations compared to privately held exchanges.

Coinbase is popular as a way for users to on-board onto crypto, as it makes it easy to deposit money from a bank account with a wire transfer or use a card to buy cryptocurrency. This makes Coinbase one of the best cryptocurrency exchanges for beginners. The exchange offers several fiat currency-denominated trading pairs, so you can trade digital assets directly against currencies like USD and EUR. 

An interesting feature of Coinbase is that users can earn small amounts of crypto through watching and reading educational materials about different cryptocurrencies. Overall, Coinbase is likely the best crypto exchange for USA users.  

  • Strong track record on security
  • One of the best ways to on-board into crypto
  • Lists fiat currency-denominated trading pairs
  • A highly liquid exchange
  • Publicly-traded company
  • Supports staking for selected crypto assets
  • Relatively high fees
  • Doesn’t offer any form of leveraged trading

Visit Coinbase

5. Bybit – Best for crypto derivatives

Bybit is a cryptocurrency exchange that was launched in 2018 with a focus on offering cryptocurrency derivatives products such as futures. However, the exchange has expanded its offering in the following years, and is now one of the top crypto exchanges for all kinds of investors and traders.

Trading fees Base fees are 0.10% for both makers and takers, users in the Bybit VIP loyalty program benefit from lower fees.
Supported cryptocurrencies More than 150 cryptocurrencies
Crypto trading pairs 443
Daily trading volume* $6.01 billion

Why did we choose Bybit?

In addition to crypto futures contracts, Bybit also offers spot cryptocurrency trading, margin trading, leveraged tokens and other trading products. An interesting aspect of Bybit is the Bybit Launchpad, where users can buy tokens from up-and-coming crypto projects. The exchange also has copy trading features, allowing users to automatically copy the trades made by top-performing traders.

  • Offers futures and margin trading
  • Copy trading mode
  • Trading bot functionality
  • Competitive fee structure
  • Users can earn yield through lending products
  • Lists fewer cryptocurrencies than some competitors
  • Not available to US customers

Visit Bybit

OKX

6. OKX – Best alternative to Binance

OKX is one of the biggest crypto trading platforms on the market, regularly ranking among the top 5 exchanges by trading volume.

Trading fees Base fees are 0.08% for makers and 0.1% for takers, users with higher volume can access lower fees.
Supported cryptocurrencies More than 300 cryptocurrencies
Crypto trading pairs 303
Daily trading volume* $6.23 billion

Why did we choose OKX?

OKX provides a full suite of features for crypto investors and traders, and lists a very large number of different cryptocurrencies. 

OKX has built out their platform to cater to all types of crypto investors and traders. This includes newcomers, web3 enthusiasts and traders that require professional-grade trading features. Users can trade with crypto on OKX through spot markets, margin trading, crypto futures, crypto options and other products. The exchange also offers staking and lending products for users that want to earn yield on their crypto.

An interesting feature of OKX is that it features a dashboard and app that helps users interact with decentralized finance (DeFi) protocols on various blockchains. 

  • Low trading fees
  • Large selection of cryptocurrencies
  • margin and futures trading
  • Web3-friendly features
  • Suitable for beginners and advanced traders
  • Doesn’t accept customers from the United States
  • Doesn’t offer trading pairs denominated in fiat currencies

Visit OKX

The best-decentralized crypto exchanges

Now that we’ve examined the best centralized exchanges on the market let’s move on to their decentralized counterparts.

Uniswap

1. Uniswap – Best DEX for token swaps

Uniswap set the standard for decentralized cryptocurrency exchanges, and continues to dominate the DeFi sector in terms of trading volume.

Trading fees 0.3% fee for swapping crypto
Supported networks Ethereum, Arbitrum, Optimism, Polygon, Base, BNB Chain, and 2 more
Crypto trading pairs 364
Daily trading volume* $1.12 billion

Why did we choose Uniswap?

The Uniswap protocol provides a simple, yet powerful way of swapping between different tokens directly on the blockchain without the need for any intermediaries. There’s no need to open an account or provide personal information, as Uniswap functions entirely through smart contracts on the blockchain. Uniswap facilitates token swaps through liquidity pools, where users can deposit tokens and earn a portion of the fees collected by the pool.

When making a token swap through Uniswap, you approve the transaction with your own wallet. There’s no need to deposit your tokens anywhere or trust anyone to take care of your tokens. Uniswap, which functions entirely through smart contracts, was initially launched on the Ethereum blockchain but is now also available on other platforms such as Optimism, Arbitrum and Polygon.

One of the biggest benefits of Uniswap is that any ERC-20 token can be made available for token swaps. If you’re trying to get your hands on promising tokens before they are listed on centralized exchanges, you’ll likely find them on Uniswap.

  • A highly liquid decentralized exchange
  • Doesn’t require registration or any personal information
  • Trade from your own wallet
  • Users can potentially earn a profit by providing liquidity
  • Can be very expensive to use during periods of network congestion
  • Since anyone can list a token, users need to be especially wary of scams

Visit Uniswap

GMX

2. GMX – Best DEX for leveraged trading

GMX is a relatively unique platform, as it’s a decentralized exchange that specializes in derivatives and leverage trading. 

Trading fees 0.1% of your position size, variable swap fees, and borrowing fees
Supported networks Arbitrum, Avalanche
Crypto trading pairs 10
Daily trading volume* $22.8 million

Why did we choose GMX?

When talking about decentralized exchanges, most people think of protocols like Uniswap, which facilitates simple token swaps. GMX takes things up a notch and allows users to go either long or short and access leverage of up to 50x.

GMX is deployed on Arbitrum, a layer 2 platform on top of the Ethereum blockchain. Because of this, users can benefit from much lower fees and faster transactions, compared to using decentralized exchanges on the Ethereum mainnet. GMX is also available on the Avalanche blockchain.

The main downside of GMX is that it only offers a limited number of cryptocurrencies for trading. However, it does offer a very smooth user experience which is a rarity when it comes to decentralized platforms for trading derivatives.

  • A decentralized exchange that offers leveraged trading
  • Up to 50x leverage
  • Users don’t need to register or provide personal information
  • Smooth user experience
  • Supports a very limited number of cryptocurrencies
  • Users need to bridge their tokens to Arbitrum or Avalanche before they can use GMX

Visit GMX

3. PancakeSwap – Best DEX for BNB Chain ecosystem

PancakeSwap is a DeFi platform built on the BNB Chain blockchain platform. The platform’s best-known functionality is its AMM (automated market maker), which is the most popular and liquid decentralized exchange in the BNB Chain ecosystem.

Trading fees 0.25% fee ($1 minimum trade amount)
Supported networks Ethereum, BNB Chain, Polygon zkEVM, Base, Aptos, and 3 others
Crypto trading pairs 1282
Daily trading volume* $592 million

Why did we choose PancakeSwap?

BNB Chain is one of the most active blockchain platforms on the market today, thanks to its low fees and fast transaction times. It also has plenty of support from the Binance cryptocurrency exchange, which certainly doesn’t hurt its chances for success. PancakeSwap is an obvious choice for BNB Chain users who want to engage in DeFi — at the time of writing, the PancakeSwap AMM has a TVL of $1.039 billion, which makes it the 14th largest DeFi protocol overall. 

The PancakeSwap platform is powered by the CAKE token, which can be staked to earn free tokens in “Syrup Pools”. PancakeSwap users can also stake their liquidity provider tokens to earn CAKE. Holders of CAKE can also make proposals to improve the PancakeSwap ecosystem and vote on proposals created by other users.

PancakeSwap has also been expanding to other blockchain platforms, including a host of EVM-compatible blockchains, as well as Aptos. 

  • The most liquid AMM on BNB Chain
  • Extensive product suite that goes beyond basic DEX functionality
  • Trading on BNB Chain is fast and relatively cheap

 

  • Hasn’t seen a lot of traction on other chains

 

Visit PancakeSwap

What did we look for when choosing the best crypto exchanges?

There are many factors that need to be considered when evaluating a cryptocurrency exchange. Here’s what we paid attention to when choosing which platforms to feature as the best cryptocurrency exchanges.

  • Longevity – We put a premium on exchanges that have been in business for an extended period of time. Please note that this is relative since cryptocurrency has only been around since 2009. A crypto exchange that has been operating for 5 years or longer can be considered well-established in the context of the crypto market.
  • Trading fees – Exchanges with lower trading fees make it possible for users to keep more of their trading profits. In addition to trading fees, we also considered deposit and withdrawal fees.
  • Trading features – Some exchanges only offer spot markets, while others also provide leveraged trading through margin trading, futures, options, and other instruments. Exchanges with a diverse set of trading features were considered more favorably.
  • Security – Security is a key factor when evaluating any cryptocurrency exchange. We considered each exchange’s track record on security. For exchanges that did suffer hacks in the past, we evaluated whether they compensated affected users in a timely manner. Another factor related to an exchange’s security is the level of transparency regarding its reserves.
  • Documentation – High-quality cryptocurrency exchanges have extensive documentation and other resources that explain their fee structure and products clearly. Users should be able to make an informed decision when putting any of their funds at risk in a trading or investment product.
  • Additional products – Some exchanges stick to basic crypto trading functionality, while others also offer additional products like lending, staking, and NFT marketplaces. 
  • Availability – Most exchanges are only available in a limited number of jurisdictions. We evaluated exchanges with broad availability more favorably.
  • User experience – Good cryptocurrency exchanges make the process of buying and selling cryptocurrency as simple as possible while still giving advanced users access to more detailed options.

Choosing the crypto exchange that’s right for you

Ultimately, the cryptocurrency exchange that’s best for you will depend on your specific needs. 

Trading fees are especially important for active traders. If you plan to engage in crypto day trading, consider choosing exchanges that offer low trading fees. If you’re generating a lot of trading volume, fees can quickly pile up and eat into your profits, so you want to choose an exchange with a competitive fee structure. On the other hand, if you plan to just buy and hold cryptocurrency, you should probably give more weight to other factors such as dependability and security.

If you have a low risk tolerance, you probably shouldn’t be trading with leverage. In this case, you can choose an exchange that doesn’t have advanced trading features like margin trading and futures but excels in some other areas that are important to you.

If you plan to keep your cryptocurrency on the exchange for an extended period of time, the exchange’s track record on security is of the utmost importance. In this case, you might want to avoid exchanges that have suffered security breaches in the past. If you’re a long-term crypto investor, it’s worth considering withdrawing your crypto to a wallet that’s fully under your control, preferably a hardware wallet.

Another important factor to consider when choosing a crypto exchange is fiat currency support. For example, if you reside in the European Union, you will most likely want to choose an exchange that allows you to deposit money to your account via a SEPA transfer. Not all exchanges allow you to directly deposit or withdraw currencies like USD and EUR. Some crypto exchanges exclusively offer crypto-to-crypto trading.

When deciding which exchange to use, it’s helpful to ask yourself the following questions so that you can have a clear list of requirements for an exchange to meet:

  • How am I going to fund my account? Will I use a credit card, bank deposit, or cryptocurrency?
  • Am I only interested in Bitcoin, Ethereum, and other big cryptocurrencies, or do I also want to trade smaller cryptocurrencies?
  • Am I going to buy and hold, or am I going to trade actively?
  • Do I just want to trade on spot markets, or will I also be trading futures?
  • Am I planning to use the exchange on a desktop, mobile device, or both?

Now, let’s quickly break down the 9 crypto exchanges we have featured in this article and the type of user we recommend each exchange for:

  Best for
Binance Users that already own some crypto and are looking for an exchange with the latest trading and investing features
KuCoin Users who like to trade many different cryptocurrencies, including smaller altcoins
Kraken Users who prioritize security and good fiat currency coverage (deposits, withdrawals, trading pairs)
Coinbase Users who are new to crypto and are looking for a secure exchange to make their first investments and trades
OKX Users who are looking for an alternative to Binance
Bybit Users who are primarily interested in trading perpetual futures contracts (with leverage)
Uniswap Ethereum users who want on-chain token swaps with the best liquidity
GMX Users who want to trade futures and use leverage on-chain
PancakeSwap BNB Chain users who want on-chain token swaps

What is the difference between centralized and decentralized crypto exchanges?

While centralized exchanges are still the dominant force in the crypto markets, decentralized exchanges are beginning to make a strong case for themselves. 

A centralized cryptocurrency exchange is a business that offers cryptocurrency trading services to customers. Users have to deposit their crypto to a cryptocurrency wallet owned and managed by the exchange before they can start trading. The main benefits of centralized exchanges are convenience and low cost.

This is because all the trades are actually happening on the exchange’s own servers, and not directly on the blockchain. For example, when you sell your BTC on Binance, the BTC doesn’t actually change ownership on the blockchain. Binance simply deducts the BTC balance from your account and allocates it to another user. A transaction on the blockchain only happens when a user requests to withdraw their coins to their own wallet. Such a setup allows trades to happen very quickly and at a low cost.

Meanwhile, decentralized cryptocurrency exchanges work in a completely different way. They work through smart contracts on a blockchain such as Ethereum. Most decentralized exchanges are based on the automated market maker (AMM) model, but some of them implement an order book system that’s similar to how buy and sell orders are matched on centralized exchanges. All of the transactions facilitated by a decentralized exchange happen directly on the blockchain.

CEX pros and cons

  • Low fees and faster trades
  • More likely to offer advanced trading products like futures
  • Users can trade coins based on different blockchains
  • Smoother user experience

 

  • Users have to trust the exchange to manage their funds responsibly
  • Trading system is opaque

 

DEX pros and cons

  • Users are in full control of their funds
  • Users don’t have to provide personal information in order to trade
  • Trading system is transparent
  • New tokens typically become available on decentralized exchanges first

 

  • Higher fees and slower trades
  • Less convenient, as users have to manage their own wallet
  • Smart contract exploits can lead to losses

 

The bottom line: These are the best crypto exchanges in 2024

Whatever your goals with trading cryptocurrencies may be, there’s probably a crypto exchange that will satisfy your needs. Here’s our roundup of the best crypto exchanges for every type of user:

  BinanceTrade Now KucoinTrade Now KrakenTrade Now CoinbaseTrade Now
Name Binance KuCoin Kraken Coinbase
Trading fees 0.1% for makers and takers 0.1% for makers and takers 0.16% for makers, 0.26% for takers 0.60% for takers and 0.40% for makers
Best Pick Best exchange overall Best for altcoin trading Best for security Best for beginners
Strengths
  • Best liquidity
  • Expansive suite of features
  • Competitive fee structure
  • Debit card with crypto cashback
  • Lists more than 700 coins
  • Competitive fee structure
  • Lending and other yield products
  • Strong track record on safety
  • Great customer support
  • Fiat currency pairs
  • Good user experience for beginners
  • Intuitive mobile app
  • Strong track record on safety
Bonuses Up to $100 Up to $500 Not available Up to $25

Now that you’ve hopefully found the cryptocurrency exchange that’s right for you, it’s time to decide which cryptocurrencies to buy. Our list of the best cryptocurrencies to buy in 2024 is a great point to start exploring the most promising cryptocurrencies at the moment.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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