Best Crypto Exchanges 2024 (Tested And Compared)

Tired of hidden fees? Want to find the best crypto trading platforms? We researched the world’s largest crypto exchanges across 40 features each, collecting 1,000+ data points.

Updated: May 9, 2024

Best Cryptocurrency Exchanges

Highlights

  • There are many top-tier crypto exchanges with low fees and good security. For these rankings, we personally used and tested 25 leading CEXs, collecting over 1,000 data points!
  • Kraken is the best CEX for fiat purchases because you can buy 240+ coins from your bank account easily, with low fees.
  • The best overall is is Bybit because it has 1000+ coins, crypto futures, low fees, and checks all of the boxes for a great crypto exchange.

Our Best CEXs 2024

Our Picks

Number of Users (2024)

Why We Picked It

Sign Up Bonus

Kraken: Best Fiat On-Ramp

10 million

Bybit: Best Overall

22 million

Binance: World's Largest

175 million

BYDFi: Best No KYC

0.5 Million

OKX: Sleek User Interface

50 million

MEXC: Most Altcoins

10 million

Gate.io: Runner Up

14 million

With 900+ crypto exchanges listed on CoinGecko, it's hard to find the best one. Plus, most reviews don't do the rigorous testing like us or will just promote whoever pays the most money. Not at RankFi!

We believe these are the best CEXs in the industry. Each platform checks all the boxes... like millions of users, billions in trading volume, competitive fees, and more. Each exchange can serve a different purpose, so find the best platform for you, that's in your region, without worrying about the order of the list.

#1

Kraken Exchange

Kraken

200+

Coins

0.16% / 0.26%

Trading Fee

2011

Founded

Kraken is the best fiat on-ramp for the majority of countries, including the US and Canada. That's because you can deposit cash from your bank account and buy over 240+ coins at low fees.

It supports 7+ fiat currencies like USD, EUR, CAD, and more with good deposit and withdrawal methods in each country. Plus, Kraken is one of the most trusted crypto trading platforms in the world.

You'll also find beginner and advanced trading, an awesome UX, and true zero-fee staking (without commissions like other platforms). Kraken has been around longer than Coinbase and has really upped their platform in 2024.

  • Great fiat on-ramp and off-ramp
  • Professional trading and good volume
  • Great UX on web and mobile
  • One of the safest CEXs in the world

#2

Bybit

Bybit

1000+

Coins

0.10%

Trading Fee

2018

Founded

Bybit is the best overall exchange, especially for derivatives trading.

From our comparison chart, Bybit checked all the boxes like low fees, huge selection of coins, lots of trading features, and more. They are the most well-rounded platform in all categories, making it one of the world's best CEXs.

Unlike Kraken though, Bybit is not the best fiat on-ramp. Most of the trading pairs are in USDT, so you may want to deposit crypto from a fiat on-ramp like Kraken. You can buy crypto with many fiat currencies, but the only fiat trading pairs are EUR and BRZ.

Bybit supports 1,000+ cryptos and 300+ futures contracts, which is nearly double the industry average of 566 coins and 166 contracts. They also support trading bots, copy trading, crypto loans, and pretty much everything you need.

  • Wide selection of assets
  • Billions in daily trading volume
  • Competitive spot and futures trading fees
  • Trusted by 22 million users
  • Excellent user-interface

#3

Binance

Binance

400+

Coins

0.10%

Trading Fee

2017

Founded

If you want the largest crypto exchange in the world, with the deepest liquidity, low fees, and every kind of trading tool, look no further than Binance.

There's a reason Binance has 175 million customers. You'll find every trading feature, including spot and derivatives trading, copy trading, staking, margin, trading bots, and more. And it's combined with the highest trading volume in the industry, ensuring deep liquidity and optimal prices.

They offer less coins than Bybit, but still support 400+ cryptos and 300+ perpetuals with up to 125x leverage. Fees are competitive too. The spot trading fees are 0.10% and futures have a 0.02% maker fee and 0.04% taker fee.

For safety, the world's largest crypto exchange has an insurance fund with over $1 Billion in assets and customer funds are backed 1:1 according to Binance's Proof of Reserves. Binance was also given a 91.43/100 security score from Certik and a 9/10 trust score from CoinGecko.

  • Highest trading volume
  • Every trading feature
  • Competitive fees
  • $1B+ insurance fund
  • Not available in all countries
  • Only 400+ spot cryptocurrencies

#4

BYDFi

BYDFi

500+

Coins

0.1% to 0.3%

Trading Fee

2019

Founded

BYDFI is the best KYC-free crypto exchange with no VPN required, allowing users from any country to sign up without ID verification (US and Canada included).

You'll be able to trade 500+ coins, 180+ crypto futures and more with low fees. The spot trading fee is 0.10% for most coins, but up to 0.30% for smaller altcoins. Futures trading fees are a 0.02% maker fee and 0.06% taker fee, which is near the industry average.

When it comes to security, BYDFi does not have a proof of reserves. However, they still hold a good reputation. They were founded in 2019 and have never been hacked or lost user funds. And they have over 500,000 users with billions in trading volume.

  • Fastest registration (no KYC)
  • US and Canada supported
  • Great UX on web and mobile
  • No fiat trading pairs
  • Could introduce KYC in the future
  • Less beginner-friendly

#5

OKX

OKX

400+

Coins

0.08%/0.1%

Trading Fee

2017

Founded

If you want a fast-growing crypto exchange with a sleek user-interface, OKX is a great platform that's starting to gain marketshare. OKX already has 50 million users across 100+ countriesbut has been growing a lot more the last couple years.

Beginners and advanced traders will enjoy OKX for its great UX. And like all platforms on this list, it has competitive fees and tons of features. You'll find 400+ spot cryptocurrencies, 180+ crypto futures, trading bots, copy trading, a P2P marketplace, and the list goes on.

Based on CoinMarketCap rankings, OKX is top 10 in derivatives volume and has billions in spot trading volume. For those wanting to explore DeFi, OKX also features a Web3 division with a self-custody wallet, NFT aggregator, bridge aggregator, and more.

  • Sleek user interface
  • Popular derivatives exchange
  • Competitive fees
  • Has all the features
  • Only 400+ spot coins
  • Available in less countries than other exchanges

#6

MEXC Global

MEXC

2,000+

Coins

0.10%

Spot Trading Fee

2018

Founded

MEXC makes the list because it has 2,000 altcoins, more than any other crypto exchange we've seen. It also does lots of other things right, like the lowest trading fees in the industry.

There are <0.10% trading feess as of this writing and futures have a 0.00% maker fee and 0.01% taker fee, which is among the lowest in the industry.

For all these reasons, MEXC has over 10 million users and billions of dollars in average daily trading volume. It's a popular place to trade meme coins, newer altcoins, and crypto futures with up to 200x leverage.

If you want the widest selection of altcoins with nearly zero trading fees, MEXC is is a stand-out choice.

  • Easy registration (optional KYC)
  • Has the most altcoins
  • Zero spot trading fees
  • Billions in daily trading volume
  • Some regions are IP-blocked (might need a VPN such as NordVPN)
  • Not beginner-friendly
  • Not available in USA anymore

#7

Gate.io

Gate.io

1,700+

Coins

0.15%

Spot Trading Fee

2013

Founded

Right behind MEXC, Gate.io follows closely with a selection of 1,700 cryptocurrencies, plus 300+ perpetual futures to check out.

While Gate.io used to have an outdated interface, they've totally revamped it, and trading on there feels way smoother now.

With 14 million users, Gate.io averages billions in daily trading volume. It's perfect if you're hungry for lesser known altcoins or want all the cool trading tools and features without crazy fees. From fees to features, everything is on par with what you'd expect from the top exchanges.

  • Huge altcoin selection
  • Revamped user interface
  • Billions in trading volume
  • Offers endless features
  • Slightly higher trading fees than the other exchanges here
  • Not beginner-friendly

Our Research

Since 2021, we have been reviewing CEXs and Web3 products. We evaluate the best crypto exchanges based on over 50 criteria, the data from our comparison chart, and personal experience. The best CEXs are broken down into these 4 key categories:

  • Coins and Features: Over a dozen features get considered, like the number of coins available, types of trading accounts, and deposit methods.
  • Platform Fees: We primarily look at the trading fees, trading volume, and crypto withdrawal fees.
  • User Experience: We evaluate the user interface, how easy the platform is to use, customer support, registration process, and overall platform experience.
  • Safety: We analyze over a dozen security factors such as the age of the crypto exchange, proof of reserves, and security breaches.

FAQs

What Is The Best Crypto Futures Exchange?

Bybit is one of the best and most popular crypto futures exchanges and BYDFi is one of the best non-KYC options with low fees. Check out our list of crypto futures exchanges here.

What Are The Safest Crypto Exchanges?

Our safest crypto exchanges in the world include platforms like Binance, Kraken, and Coinbase.

Author

At RankFi.com, our goal is to be your trusted source for crypto reviews, guides and research. We seek out researchers with extensive crypto knowledge and firsthand experience using dozens of CeFi and DeFi platforms.

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