Best Crypto Exchanges and Top 10 Bitcoin Trading Platforms 2024
We focus on factual accuracy, relevance, and objectivity in our editorial policy. Our content is crafted by some of the top crypto experts in the industry. Each piece goes through a detailed review by our experienced editors to ensure our content meets the highest standards. It allows us to provide real, detailed crypto reviews from our team of crypto experts who have years of first-hand experience dealing with crypto, finance, and emerging technology. Learn more about our crypto asset testing and review process .
Choosing the best cryptocurrency exchange can be an exhausting task. This post will explain the important factors to take into account when choosing an exchange. I will also give you a review summary of the leading cryptocurrency exchanges around.
Don’t Like to Read? Here’s a Video Covering Our Top Exchange Picks:
Best Bitcoin and Cryptocurrency Exchange Summary
Here are my top picks for the best cryptocurrency exchange by category:
The main things to look for when choosing an exchange are:
- What type of exchange is this? (Broker, trading platform, etc.)
- Does this exchange support the coins I want to trade?
- Does this exchange accept users from my country?
- Does this exchange accept my payment method?
- What are the fees and buying limits for the exchange?
Finally, before deciding on an exchange, make sure to read several online reviews to get a feel of the exchange’s reputation. That’s how to choose an exchange in a nutshell.
If you want a more detailed explanation of cryptocurrency exchanges and detailed reviews, keep reading this post. Here’s what I’ll cover:
1. How to Convert Cryptocurrency to Real Money/Cash
Cryptocurrency exchanges are companies that allow you to exchange “real money” (i.e., USD, EUR, etc.), also known as fiat money, to cryptocurrencies like Bitcoin or Ethereum and vice versa. The exchange is a website that helps you facilitate this trade.
But not all exchanges are equal…
2. Exchange Types
It’s important to understand that not all cryptocurrency exchanges are alike. Some allow you to trade with other users, while other exchanges will only sell you cryptocurrency directly. Some will not even give you the actual coins but will only allow you to speculate on the price.
Let’s break down the different types of exchanges.
Brokers
Brokers are sites that simplify the buying process by allowing you to buy coins through them directly at a premium. When you buy from broker sites, the process is usually much simpler and less confusing, but it’s also more expensive.
Examples of reputable brokers: Coinmama, and Coinbase.
Trading platforms
Trading platforms are sites that connect buyers with sellers anonymously in an automated form. This means that you buy from people who’ve placed sell orders on the site without ever communicating with them directly. The platform usually takes a small fee for the service.
Conducting transactions on trading platforms is usually the cheapest way to get bitcoins or other coins, but often it’s not very user-friendly. Trading platforms have advanced options, such as limit-orders and stop-losses, that can confuse inexperienced users.
Also, when you place an order, it may not be fulfilled immediately due to a lack of sellers at the price at which you want to buy.
Examples of reputable trading platforms: Binance, and Bitstamp.
Some trading platforms allow you to trade CFDs (Contracts for Difference). This means you’re basically betting on the price of the coin in the future instead of actually owning it.
While CFDs are very appealing due to their ease of use, they don’t allow you possession of the actual coins. The process is the equivalent of betting on the fact gold will rise in price instead of actually buying gold.
You won’t be able to withdraw the cryptocurrency you bought into your wallet. The only thing you’re doing is buying (or selling) a contract regarding the coin’s price in USD, EUR, or some other form of government currency.
CFDs also allow you to leverage your bets by borrowing money from them (also known as margin trading). While this can give you a great upside for successful trades, it also holds a lot of risk of losing your money very quickly.
Bottom line – CFDs are very risky and are more suitable for experienced traders.
Note: CFD trading is currently illegal in the U.S.
Cross-Asset Class Platforms
Some trading platforms offer assets from multiple different asset classes. Such platforms typically offer major cryptocurrencies alongside assets such as stocks, commodities (including precious metals), and foreign currencies. These platforms make it easy to trade between all types of assets within a single app. This is useful for traders who wish to easily shift some of their portfolios from different asset classes to crypto and vice versa.
Examples of cross-asset platforms: Uphold, Bitpanda, and eToro.
P2P platforms
P2P (Peer-to-Peer) platforms connect buyers and sellers directly so they can negotiate on a price. While P2P crypto exchanges usually allow for a wider array of options (payment methods, supported countries, etc.), they also hold a large amount of risk because you’re buying from an unvetted individual.
Examples of reputable P2P platforms: LocalCoinSwap, and Paxful.
3. What are the Best Bitcoin and Crypto Exchanges?
What Are the Best Bitcoin and Crypto Brokers?
Best Wallet
For users just looking for the easiest way to swap crypto, we recommend using the built-in exchange feature available with Best Wallet.
The built-in DEX aggregator, powered by Rubic, sources the best rates for users’ swaps. The Best Wallet supports 50+ chains, connects to over 200 decentralized exchanges, and uses up to 20 cross-chain bridges. Users can make both same-chain and cross-chain swaps without ever having to leave the wallet. Having the ability to swap assets from directly within a crypto wallet is beneficial as users don’t need to give assets up to third-parties and it reduces the risk of sending to a wrong address and helps avoid exchange hack risk.
But for users looking for a fully featured crypto exchange, here are some alternative picks:
Margex
Launched in 2019, Margex is a top Bitcoin and crypto trading platform that offers referral rewards, fast execution speeds, and liquidity from 12+ exchanges. Users are required to pay a fee of just 0.06% per transaction and can also stake BTC to earn passive income. You can read my full Margex review here.
MEXC
Used by more than 10 million customers, the MEXC exchange allows investors to trade over 1,000 crypto tokens. The platform stands out by charging 0% spot trading fees, offering fast execution speeds, and offering access to over 2,000 trading pairs. It’s one of the best crypto futures trading platforms. Leverage trading up to 200x is applied on large-cap tokens such as Bitcoin, Solana, and Ethereum.
OKX
Established in 2015, OKX is a top crypto exchange used by over 50 million customers. The fees on this exchange start from just 0.10%, which can be further reduced by holding $OKB, the native coin. Flexible staking yield can also be unlocked through the ‘Simple Earn’ feature. You can read my full OKX review here.
Uphold
Uphold is a popular trading platform with over 10 million users in 150 countries. It allows you to trade more than 300 cryptos and traditional currencies. What sets Uphold apart is its “Anything to Anything” trading feature, along with real-time transparency with 100% reserves. The platform connects to over 30 exchanges to ensure you get the best prices. Users benefit from advanced trading tools like Take Profit and Trailing Stop orders. Fees are relatively competitive, with maker fees at 0.8% and taker fees at 1.5%. UK users can use the Uphold Card for easy crypto spending, while US users can earn up to 5% APY on USD deposits.
KuCoin
Launched in 2017,KuCoin is a leading global crypto exchange with more than 29 million users. It supports trading of over 700 crypto tokens and offers low fees starting at 0.1%. You can even pay less if you hold its native token, KCS. KuCoin provides margin and futures trading with up to 100x leverage on top tokens like Bitcoin and Ethereum. This brand also features the function KuCoin Earn, for staking and lending, allowing users to earn passive income. You can read my full KuCoin review here.
What are the Best Cryptocurrency Trading Platforms?
Binance
Binance is a Bitcoin and cryptocurrency exchange that offers a trading platform with one of the most competitive rates around. If you’re looking to trade crypto to crypto only, this is probably the easiest and cheapest way to go. The exchange accepts users from around the world and allows the purchasing of coins with a credit card in certain countries as well (a sort of brokerage service). You can read my full Binance review here.
Bybit
Bybit is a top crypto trading platform, packed with advanced and beginner tools such as futures and perpetual trading, copy trading, and AI-powered trading tools. Playing host to more than 30 million investors, Bybit values security – offering triple-layer asset protection and privacy protection. You can read my full Bybit review here.
BingX
BingX is a top crypto trading platform that lets investors start trading 700+ digital assets without completing a KYC form. This exchange offers short-selling capabilities through its perpetual futures trading options, and lets investors apply up to 150x leverage. The Taker fees on BingX starts from just 0.10% per slide.
What Are the Best Bitcoin and Crypto P2P Platforms?
Best Wallet
Best Wallet offers a seamless platform for buying and selling various cryptocurrencies, including Bitcoin and Ethereum, with numerous payment methods. Users can transact through PayPal, wire transfer, credit and debit cards, Apple Pay, Google Pay, and regional options like GCash and PayNow. With a transparent fee structure, Best Wallet provides flexibility for crypto transactions worldwide. Check out this article for more information about how to buy Bitcoin using Best Wallet.
LocalCoinSwap
LocalCoinSwap brings buyers and sellers together in a marketplace for a range of coins, including BTC and Ethereum. It’s unique in that you can transact in almost any method imaginable, including PayPal, wire transfer, Western Union, WebMoney, credit and debit cards, and cash, with a 1% sell fee. You can read my full LocalCoinSwap review here.
Bitget
Bitget is a popular cryptocurrency exchange and copy-trading platform which has been around since 2018. It provides spot trading and futures trading but is most famous for allowing users to copy other traders.
Bitget users can purchase crypto outright using a debit or credit card, either directly or via a third-party payment processor such as Simplex, Banxa, or Mercuryo.
What Are the Best Cross Asset Class Platforms?
eToro disclaimer: This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn moreBest Wallet
Best Wallet is a flexible crypto platform, catering to millions of users globally with an emphasis on accessibility and a wide range of supported assets. While it mostly focuses on cryptocurrency, Best Wallet supports both fiat and digital asset trading, with popular options like Bitcoin, Ethereum, and numerous altcoins. The platform’s multi-chain support and fiat-to-crypto payment methods make it easy to trade and manage assets. That said, its Web3 features might need some getting used to.
eToro
**Content does not apply to US users
eToro is one of the most well-known investment platforms in the world, with more than 30 million users around the globe. Although it’s not the easiest platform to withdraw your crypto from, it provides trading for a massive range of assets and asset classes, including hundreds (if not thousands) of commodities, indexes, stocks, cryptocurrencies, and more. However, US customers can only invest in Bitcoin, Bitcoin Cash, and Ethereum. You can read my full eToro review here.
PrimeXBT
PrimeXBT is a multi-asset trading platform that allows users to trade cryptos, forex pairs, indices, and commodities. A CFD (Contract for Differences) platform, PrimeXBT allows users to speculate on asset prices rather than purchase the asset themselves. The platform provides markets for dozens of cryptocurrencies with up to 100x leverage, including BTC, ETH, LTC, XRP, SOL, DOGE, and EOS. Popular FX pairs such as EUR/USD and GBP/USD can be traded on PrimeXBT. You can read my full PrimeXBT review here.
4. Exchange Features
Next, you’ll need to inquire about the different features of each exchange. Here are the most important ones:
Coins supported: Does the exchange support the type of coin you’re looking to buy and sell? What currency pairs does it offer for that coin? (i.e., what coins can you trade it for?) For example, an exchange offering a BTC/USD currency pair supports the buying and selling of Bitcoins for US Dollars.
Countries supported: Not all exchanges accept customers from all around the world. Make sure the service is available in your country.
Asset classes supported: Does the platform offer additional asset classes that you’re interested in, if any? Some platforms are crypto-only, while others offer additional assets, such as stocks and commodities. The latter may be more convenient for multi-market traders.
Accepted payment methods: Some exchanges accept a wide variety of payment methods, while others accept only wire transfers. Payment methods that allow buyers to request their money back, such as credit cards or PayPal, will usually involve higher fees. This is done to insure the seller in case you cancel the payment after you get your coins. As you might expect, payment methods that can’t easily be reversed, such as wire transfers, are usually cheaper.
Fees: There are three kinds of fees: Deposit fees, transaction fees, and withdrawal fees. Each fee is usually different and can affect the total amount of money you’ll receive in the end. Make sure you’re aware of all of them.
Exchange rate: Some exchanges have low fees, but their exchange rates are higher relative to the competition. This means that the fees are sort of “hiding” in the exchange rate. This is more typical with brokers. Again, make sure you are aware of the numbers. Do your own calculations before committing to any purchase or trade to make sure you’re getting the deal you want.
Buying limits: Your buying limit will depend on your payment method and, in some cases, your identity verification level. Not every exchange or broker requires identity verification. If you’re looking to buy a large amount of Bitcoin, some exchanges might not be relevant due to their low limits. Shop around.
Exchange reputation: Is the exchange well known in the community? How responsive is its support in the event you get lost in the process? Have there been a large number of complaints against the exchange? Has it been hacked in the past? Keep in mind that no exchange is free of negative reviews, but it’s important to consider the volume and the content of those reviews.
Here’s a video we made that sums up all of the above:
Resource section for the video can be found here
5. KYC
Many exchanges today have a Know-Your-Customer process, also known as KYC, that you’ll have to go through before buying any coin on the exchange.
This means you’ll need to supply the exchange with some additional information, such as your ID, proof of residency, and, in some cases, even proof of income. As Bitcoin and crypto become more and more mainstream, exchanges are subject to stricter regulations by local governments, and in many cases, they’re unwillingly forced to request this information from you.
This is not something personal and will probably be required by most legit exchanges. In fact, I’d be suspicious if an exchange didn’t request this information. If you’re keen on maintaining your privacy, you can read our guide about how to buy Bitcoin anonymously.
6. Conclusion
You now know the most important aspects to look for when choosing your crypto exchange. In the end, the main thing that matters is that the company (or seller) is reliable and that you’re happy with the price you’re paying. Sometimes, it’s worth it to spend a bit more money in order to finish the process hassle-free.
Personally, here are my top picks for exchanges by categories:- Best Wallet (Crypto wallet and exchange platform with Web3 support)
- Margex (Crypto derivatives exchange)
- Exodus (Crypto wallet)
When it comes to UK-based users, you can check out our article on the best crypto exchanges in the UK and learn more about our top picks. If you’ve had any good or bad experiences with the exchanges listed above, or any other exchange, I’d love to hear about it in the comment section below.
7. FAQs
What is a crypto exchange?
What crypto exchanges are available in the US?
Which crypto exchanges do not report to IRS?
Which crypto exchange has the lowest fees?
What is the best crypto exchange?
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.
Free Bitcoin Crash Course
Learn everything you need to know about Bitcoin in just 7 days. Daily videos sent straight to your inbox.
Usefullll!!!
I would love to see Bitcoin-only businesses included in this post like Swan or River in the US, and non-custodial, Bitcoin-only platforms like Beaver Bitcoin and Bull Bitcoin in Canada.