15+ Best Crypto Exchanges in 2024

Best Crypto Exchanges:

New cryptocurrency market participants often find the early learning curve hard to follow. The huge number of variables to determine your experience usually affects your investment decisions, and thus your profit.

Naturally, the central point of this hassle comes when having to choose an exchange. The only way to buy bitcoin is with a debit card or credit card and trade cryptocurrencies subsequently. Of course, not all exchanges are the same. Some are more oriented towards long-term investors while others aim to serve traders. Then we also have P2P platforms and derivatives exchanges.

As a result, it may be a good idea to get an overview of the best platform for each functionality. This will help you improve your investment journey, ensuring that you are qualified enough to start making a profit.

Let’s have a look at the best platform based on the type of investing you might be interested in.

Best Crypto Exchanges 2023:

Here is the list of Best Crypto Exchanges that you can use in 2022 to 2023:

  1. Coinbase
  2. Binance.
  3. FTX
  4. LocalBitcoins
  5. Bisq
  6. Kraken
  8. Gemini
  9. KuCoin
  11. Bitstamp
  12. Bittrex
  13. bitFlyer
  14. bitfinex
  15. Huobi

1. Coinbase – Buy and sell for the long term

Coinbase is one of the oldest and most reliable exchange platforms in the world. Recently listed in the stock market, it has managed to amass millions of users since its creation in 2011 and continues to grow on an exponential basis.

The platform is essentially a brokerage service, connecting buyers and sellers with a liquidity provider that conducts the trade. The interface of Coinbase and its ease of use makes it ideal for beginners who are just making their first steps in the space and are looking for a platform to buy or sell crypto on an occasional basis. 

2. Binance – Trading and passive income

Binance exchange is the fastest-growing trading platform in the world and by far the most popular. Established in July 2017 by Changpeng Zhao, the platform has managed to amass millions of cryptocurrency traders who make use of the dozens of products in the platform.

With more than 600 trading pairs, Binance is a great place for day traders and offers many additional products to help you earn interest. One of the most interesting elements of this exchange is its ability to “cash out” crypto through a crypto debit card, which makes the process faster than ever before. Therefore, if you are looking to put your technical analysis to good use, consider using a platform that is famously known for its “BUIDL” ethic.

3. FTX – Derivatives trading

Created by Sam Bankman Fried, FTX is a derivatives trader paradise. The platform hosts a large array of derivatives products, like futures, options, and other possibilities, all while enabling spot trades as well. The growth of the platform has occurred rapidly as well, propelling the young founder into the list with the richest people in the world.

If you are interested in derivates or have significant experience in such products through your stock market experience, this platform may be worth considering.

4. LocalBitcoins – P2P trading platform

If you are looking to buy Bitcoin using alternative payment methods that do not include credit cards and bank transfers, you might want to consider a P2P platform. This option helps you discover people who are willing to trade Bitcoin at a slightly premium rate but offer the possibility of payment methods you would not find anywhere else. Do you want to buy Bitcoin with a gift card? What about selling Bitcoin for Paysafe cards? The options are endless and LocalBitcoins is a major player in this function.

By acting as escrow, LocalBitcoins allows users to conduct any transaction without having to trust the anonymous person on the other side of the trade. Once both parties make a payment, the escrow releases the funds to their rightful owners.

Note: Escrow premiums range from 4% to 5% at the time of this writing, and the platform enables anyone to cash out up to $1000 without ID verification.

5. Uniswap – Decentralized exchange on Ethereum

Since 2019, Decentralized Exchanges (DEX) have grown in popularity, as users search for more privacy in their transactions. These exchanges do not require registration or verification and allow people to trade from the comfort of their private wallets through smart contracts.

Apart from trading, Decentralized Exchanges also offer the possibility to earn interest on your funds by staking them in liquidity pools. 

While Uniswap is by far the most popular option when it comes to DEX platforms, the fees on the Ethereum network are currently too high for many, effectively pricing out retail investors.

6. PancakeSwap – Decentralized exchange on Binance Smart Chain

So where do these retail investors go? The second-best option of course! Pancake Swap is pretty much the same as Uniswap, only built on the Binance blockchain. Here, trading has little to no fees, enabling anyone to participate in decentralized trading. That said, the current hype of BSC is expected to calm down in the next few months, as we expect Ethereum to undergo its EIP1559, lowering the fees on its network. This will not only be beneficial for Uniswap, but also for the price of Ethereum.

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