The 5 best crypto exchange platforms: Top Exchanges in 2024

Finding the best cryptocurrency exchanges can feel like a marathon. The meteoric rise of cryptocurrencies has sparked renewed interest among investors. This presents a challenge for intermediaries who facilitate the buying and selling of cryptocurrencies. Several platforms are emerging offering a wide range of services in order to attract as many users as possible.

Therefore, it is difficult to make a good decision among a plethora of platforms. Due to a lack of experience in the field, it is common to select a platform that does not meet your expectations.

Platforms compete with each other. But what are the best platforms for buying cryptocurrencies safely? Our team explains everything on the subject by presenting you with the best cryptocurrency exchange platforms.

The best exchange platforms to buy cryptocurrencies

It is essential to choose a trustworthy platform when buying, selling or trading cryptocurrencies. It is important to remember that the quality of services provided by different platforms is not the same. For this reason, each investor or trader must choose the platform that best meets their needs.

It's natural to be perplexed by the 498 platforms available on the market. If you find yourself in this scenario or want to know if you made the right decision, we will categorize it for you.he best cryptocurrency platforms.

1/ Binance : The market leader for trading cryptocurrencies

Binance is a crypto exchange platform that specializes solely in investing in the cryptocurrency market. It was founded during the bull run of 2017 and quickly established itself in the market by offering a platform suitable for newcomers and experienced users.

At the end of 2017, the platform accumulated 10 million users. Today, the platform is considered the undisputed leader, with over 90 million active users, 500 cryptocurrencies available and a significant daily transaction volume compared to its competitors.

Binance offers a variety of features including:

• buying, selling, storing and exchanging cryptocurrencies, 
• Savings allowing investors to earn more than 10 percent per year on certain cryptocurrencies
• A possibility for holders of BNB tokens to invest in new projects.
• A possibility of carrying out peer-to-peer (P2P) exchanges, 
• Trading with leverage,
• Cryptocurrency lending and a variety of other options.

Despite these different offers, the platform is not without flaws. Below we have listed the advantages and disadvantages of using Binance platform.

✅ The advantages of Binance

1. The cheapest fees on the market (only 0.1 percent).
2. Useful resources for all levels (experts, intermediate, beginners)
3. Affordable minimum deposits
4. More than 500 cryptocurrencies available
5. Intuitive platform
6. A platform regulated in France by the AMF
7. A version suitable for beginners
8. Insurance that can cover losses in the event of theft.

🔻 Cons of Binance

1. Restriction in certain countries in Africa in particular (See the list of best sites to buy cryptos in Africa)
2. No demo account for testing.
3. Changes in frequent regulations.

2/ Bybit: The ideal exchange platform for traders 

bybit is a platform launched in 2018 in order to allow novices to easily get started in trading. It has a simple interface, and a wide range which includes trading, staking, and a market for non-fungible tokens. Today, the platform celebrates its 10 million users; This shows the success of the platform. You can read our article on Bybit’s NFT platform if the subject interests you.

There is also on Bybit, a copy-trading system which might interest you: Here's how to copy the best traders on Bybit and have the same profits!

Bybit's ability to provide services that cover almost every aspect of cryptocurrencies, including the different income generating tools, allows the platform to increasingly attract a growing number of users. 

✅ Benefits by Bybit

1. Simple to use interface.
2. Several tools available and very good platform for crypto trading.
3. Resources available and plenty of space to learn.
4. Varied services and a wide range of assets.

???? The disadvantages by Bybit

1. Bybit was once on the AMF blacklist
2. You cannot convert crypts against FIAT on the site. However, we can do this using peer-to-peer space.

3/ The ideal platform to diversify your portfolio

Kucoin is a company founded in the United States in 2011 View Jesse powell with the objective of facilitate the exchange of fiat currencies (USD, pounds, euros) into cryptocurrencies.  It is one of the oldest crypto exchange platforms in existence. This gives it great notoriety and a solid clientele.

The Kucoin platform offers various interesting services such as a Spotligh launchpadt for example. These are spaces for investing in upstream projects.

✅ The Benefits by Kucoin

1. regulated by FinCEN in the United States
2. More than 120 assets available
3. The broker is one of the veterans in the sector.
4. Increased security highlighted
5. A varied offer of currencies

🔻 Disadvantages of Kucoin

1. High fees
2. Interface which can seem “old” sometimes.

4/ Coinbase: L'exchangthe simplest way to buy cryptocurrencies

Coinbase is one of the oldest platforms in the industry. She was founded in 2012 in order to allow users to invest in cryptocurrencies in a simple way. Currently, she claims 98 million verified users including 13 institutions and several ecosystem partners.

In terms of trading volume, coinbase is ranked second after the Binance crypto-exchange. Present in more than 100 countries, Coinbase is a better alternative for investing, selling and storing cryptocurrencies. 

Coinbase offers easy services while catering to both novice and experienced investors. Additionally, since the majority of customer assets are kept offline, it is known for its security.

✅ Benefits

1. Useful resources for all users
2. Affordable minimum deposits
3. Intuitive platform
4. Listed on Nasdaq
5. Insurance that can cover losses in the event of theft.

🔻 Disadvantages

1. No demo account
2. Some cryptocurrencies are not supported
3. High fees compared to Binance.

What is a crypto exchange platform?

Before we look at the best cryptocurrency exchange platforms, we must first understand the fundamentals. What exactly is a cryptocurrency exchange platform? In the same way that there are intermediaries for buying stocks or trading currencies, there are also intermediaries for buying cryptocurrencies.

Exchanges serve as trusted intermediaries, facilitating the buying, selling and trading of cryptocurrencies. In a word, it is a website or application where buyers and sellers connect in order to complete a transaction. 

More logically, to be able to buy bitcoins, there must be someone ready to sell them. The platform has the role of ensuring liquidity and security between the two parties so that users can easily buy or sell cryptocurrencies.

How to proceed ? To purchase cryptocurrencies, the customer must first open an account on a platform that meets their needs. To attract an increasing number of users, the platforms offer various services such as staking, the possibility of investing in innovative projects before their launch, the possibility of trading with leverage, etc.

How to choose a best exchange platform?

The number of exchanges is growing at a rapid pace. According to the Coinmarketcap website, there are currently 498 exchange platforms. This increases the likelihood of choosing a less reliable platform without realizing it.

However, the majority of platforms claim to be trustworthy for all, even when this is not the case. This makes it difficult for newcomers and creates uncertainty for industry veterans.

This is why it is essential to be well informed in order to choose a platform that suits you. Here are some considerations to keep in mind to avoid the risk of a poor user experience:

• Services provided by the platform
• The total number of users
• Security
•  Transaction fees
• Payment methods
• Leverage
• The minimum deposit
• Client service.

✅ The range of services provided by the platform

As with cryptocurrencies, the platform's offering makes all the difference. To have a wide choice of possibilities, it is important to take into account the number of cryptocurrencies offered by the platform.

Furthermore, it is necessary to examine the different resources of the platform, including manuals, training and tools that allow the investor to carry out rapid technical analysis.

✅ The number of users and transaction volume

The number of users of an exchange platform makes it easy to identify the platform with the best reputation et the best offer on the market. A reputable platform generates positive reviews from users, which allows newcomers to automatically select it.

✅ Security

One of the most crucial requirements for an exchange platform is Security. Several cyber attacks have decimated the crypto world. It is essential to know more about the way the platform stores its cryptocurrencies. Above all, we must favor platforms which keep the majority of their assets in cold wallets, or cold wallets.

To be completely safe from risks, choose a platform with a solid security foundation which protects customers in the event of hacking. This is the case with Binance. Likewise, favor platforms that display their “proof of reserve".

✅ Transaction fees

Users of a platform are those who pay transaction fees to operate it. Every purchase or sale comes with a set of fees. Therefore, it is essential to choose a platform that offers competitive fees.

✅ Payment methods

It is important to take into account the payment methods offered by the platform in order to make deposits and withdrawals of cryptocurrencies as easily as possible. Bank card and bank transfer are the two most popular payment methods.

✅ Leverage authorized

Despite the fact that leverage has both advantages and disadvantages, going through an exchange platform that offers this tool offers the investor a wide range of options.

So, anyone who wishes borrowing money from the platform can do so using CFDs (Contracts for difference). In practice, this allows you to invest up to 100 times your funds, as well as profit from the decline and rise of an asset. However, it is not a tool recommended for beginners since the risk of losing your initial capital is high.

✅ The minimum deposit

To reduce barriers to entry, it is prudent to choose a platform that allows a non-significant minimum deposit amount.

✅ Client service

Some platforms are less user-friendly and can lead to disaster for the user. The best option in this case is to ensure that the exchange platform has responsive customer support which can provide solution timely.

The user is free to choose the platform that best meets their needs. We were attracted by the Binance platform due to its flexibility and the fact that it is aimed at both beginners and specialists. Don't be afraid to try it out to form your own opinion.

Conclusion on the best exchange platforms for purchasing cryptocurrencies

The choice of a platform is influenced by a number of factors, which we have tried to explain in this post. We chose the six best platforms to buy cryptocurrencies safely.

There are of course other interesting platforms like Coinbase (useful for buying your first bitcoins) or Kraken but we couldn't name them all.

Some platforms are ideal for purchasing cryptocurrencies, others for trading, and still others focus on making trading accessible to everyone through user-friendly interfaces. Likewise, these exchanges are all available for do automated trading via trading bots.

FAQs on crypto exchanges

What is the best platform to buy crypto?

There is no universality when it comes to the best platforms to buy crypto. While some are attracted by Binance, others are attracted by Coinbase, for example. It is important to choose the platform that meets your expectations.

What is the best platform for trading cryptocurrencies in 2024? 

Binance is considered the best platform for trading cryptocurrencies due to its liquidity, the number of assets available on the platform, as well as the different tools it has.

What is a cryptocurrency exchange?

A cryptocurrency exchange is an online service that allows users to buy, sell and trade cryptocurrencies, such as Bitcoin, Ethereum and others, using cryptocurrency pairs.

What features should you look for in an exchange platform?

Important features include security, variety of supported cryptocurrencies, transaction fees, platform usability, liquidity, deposit/withdrawal options and platform reputation.

What are the best cryptocurrency exchange platforms in 2024?

The best platforms may vary depending on individual needs. However, some popular ones in 2024 are Binance, Coinbase, Kraken, Bitget, and Huobi. It is recommended to do thorough research before choosing a platform.

Which platform is best for beginners?

Coinbase is often recommended for beginners due to its user-friendly interface and simplified registration process. However, Binance also offers an intuitive interface and options for beginners.

How do I keep my funds safe on an exchange?

Use reputable platforms with robust security measures, enable two-factor authentication (2FA), use hardware wallets to store your cryptocurrencies, and avoid storing large funds on one platform for long periods of time.

Q6: What are the fees associated with cryptocurrency exchange platforms?

Fees may include transaction fees, deposit/withdrawal fees, conversion fees, and other platform-specific fees. It's important to understand the pricing structure of the platform you choose.

Can I trade all cryptocurrencies on any platform?

No, not all platforms offer the same variety of cryptocurrencies. Make sure the platform you choose supports the specific cryptocurrencies you want to trade.

How to choose between a centralized and decentralized platform?

Centralized platforms generally offer better liquidity and a friendlier user experience, while decentralized platforms offer greater control over your funds. The choice depends on your trading preferences and needs.

What should I do if I forget my password on an exchange?

Most platforms have password recovery procedures. Follow the password recovery instructions on the platform or contact customer support for assistance.

Are there any risks associated with using cryptocurrency exchanges?

Yes, risks include price volatility, security issues, government regulation, and the possibility of financial loss. It is crucial to do thorough research, secure your accounts and not invest more than you can afford to lose.

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Disclaimer: This article does not constitute investment advice. Always do your own research before investing.