Best Cryptocurrency Exchanges of 2024: A Comprehensive Guide for Investors

Business Insider - The top cryptocurrency exchanges allow you to buy, sell, and trade popular cryptocurrencies, NFTs, and other digital coins and tokens. However, only experienced, hands-on traders with knowledge of blockchain trading should use the top crypto exchanges.

Our crypto exchange guide explores the best crypto exchanges, including the crypto exchanges with the lowest fees and the safest crypto exchanges for buying and selling Bitcoin and other top-performing digital coins.

Best Crypto Exchanges for 2024 (Summary)

Check out our crypto exchange reviews on each platform for more in-depth analysis. 

Compare the Best Cryptocurrency Exchanges

The best cryptocurrency exchanges work similarly to the best stock trading apps, offering competitive fees and resources on digital marketplaces like mobile or desktop. Crypto enthusiasts can easily buy, sell, and store popular digital currencies like Bitcoin or altcoins like Ethereum alongside traditional investable securities. 

Note that if you don't want to use your exchange's built-in wallet (if applicable), you'll need to set up an external crypto wallet, such as one of the best bitcoin wallets, to store your assets securely. 

Here are the top cryptocurrency exchanges for low fees and human advisor access as chosen by Business Insider editors in 2024. 

Top Crypto Exchanges

Coinbase

Best for: Cryptocurrency selection

As one of the largest U.S.-based cryptocurrency exchanges, Coinbase is a user-friendly digital marketplace offering hundreds of cryptocurrencies. Coinbase caters to intermediate and advanced traders, as well as institutions and high-net-worth clients. Coinbase offers its Pro, Advanced Trade, and Prime platforms. 

Coinbase has a low account minimum to get started and offers digital wallet storage for cryptocurrencies and other digital assets. Coinbase's beta NFT trading platform has no transaction fees for creators and collectors. 

Cons: Coinbase is under investigation by the SEC. Also, if you regularly use margin accounts to trade, Coinbase isn't the best choice. It charges high fees.

Crypto.com

Best for: Mobile trading

Crypto.com is a popular global crypto trading platform known for its user-friendly mobile trading app with various reward opportunities and DeFi wallet storage. Although Crypto.com offers a web-based exchange, U.S. investors are limited to its mobile app.

Crypto.com supports 350+ cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. The platform accepts 20+ kinds of fiat money. The Crypto.com mobile app provides Visa Card perks, reward-earning opportunities, crypto-tracking features, and price alerts.

Cons: U.S. investors won't have access to Crypto.com's more advanced trading features, such as margin trading, OTC trading, staking, and trading bots. 

Abra

Best for: Institutional and private wealth management

Abra is a global crypto exchange serving institutions and private clients (including family offices and hedge funds) in 150+ countries. It offers comprehensive cryptocurrency investment solutions and wealth management services like OTC trading, lending services, and sovereign wealth funds.

Private clients can meet with a dedicated account manager for tailored crypto trading solutions, competitive fees, and 24/7 expert guidance from a team of professionals. Institutional clients can use Abra Prime to gain cryptocurrency exposure, access trading pairs, and build custom crypto and digital asset programs. 

Abra's OTC services give institutional clients access to interest-earning accounts, loans, and one-on-one account support.

Cons: Retail trading is no longer available in the U.S. Therefore, only Abra Prime and Private services are available for U.S.-based investors. 

Kraken

Best for: Security

Kraken is one of the oldest and most well-established global crypto exchanges with industry-leading educational resources and security features. Kraken is one of the safest crypto exchanges for investors looking to trade 200+ cryptocurrencies.

Crypto exchanges aren't generally regarded as the safest or most transparent platform, so industry-leading crypto trading platforms like Kraken stand out quite a bit. 

The platform also offers a handful of fiat currencies with options for retail and institutional investors. Kraken provides investors with access to margin and spot trading. You can borrow up to 5x your account with a margin for increased liquidity and higher trading volumes. NFTs have no gas fees. 

Cons: Kraken's futures trading platform isn't available to US traders. In addition, only institutional and high-net-worth clients can use the exchange's consultation and account management services. 

Binance.US

Best for: Security runner-up

Binance.US is another top crypto exchange, often compared to Kraken, as one of the safest crypto exchanges for active blockchain traders. However, it is only the runner-up since the exchange has a history of unethical activity (see our review for further info). 

Nevertheless, Binance.US is one of the crypto exchanges with the lowest fees, offering accessible trading features and tools for retail and institutional investors. Binance.US also offers perks like cold-wallet storage, staking, and institutional services. 

Cons: Binance.US does not offer crypto futures or margin trading. 

Cash App Investing

Best for: Bitcoin

Cash App Investing is one of the best crypto exchanges in the US due to its user-friendly platform and commission-free trades of more than 1,800 stocks and ETFs. When you link your Cash App balance to the mobile app, investors can easily buy, sell, send, and receive Bitcoin. You can even designate a specific portion of your paycheck to be converted into bitcoin when you set up direct deposits. 

Send bitcoin to your friends fee-free with Cash App's Lightning Network features. Cash App also provides an in-app custodial wallet to store your Bitcoin assets. You can start trading with as little as $1.

Cons: Cash App Investing only offers Bitcoin. If you want to invest in other cryptocurrencies, like Ethereum or Dogecoin, consider other top cryptocurrency platforms. 

What are Crypto Exchanges?

A cryptocurrency exchange is like an online brokerage for cryptocurrencies, tokens, and other digital assets like NFTs. Investors can buy, sell, and trade cryptocurrencies for other cryptocurrencies or fiat currencies (like USD and EUR). 

Types of Crypto Exchanges

  • Centralized Exchanges (CEX): Centralized exchanges are the most common type of crypto exchange. Companies manage them and offer features such as fiat on-ramps, access to liquidity, and other advanced charting tools and analytics. However, they are susceptible to centralization and custodial risk. 
  • Decentralized Exchanges (DEX): Decentralized exchanges operate on the blockchain and are managed by their users. The most popular example is the Bitcoin system. Decentralized exchanges offer peer-to-peer trading without intermediaries and prioritize privacy and security. However, they lack liquidity and consumer protection and are vulnerable to security breaches. 

How to Choose the Best Crypto Exchange

The best crypto exchanges offer competitive pricing for cryptocurrencies beyond Bitcoin and Ethereum and prioritize user experiences with an intuitive interface, clear platform navigation, and access to a mobile app. Trustworthy crypto trading platforms are licensed and compliant with industry regulations.

When deciding how to choose a crypto exchange, consider whether the exchange aligns with your investing preferences. This includes factors such as your risk tolerance, time horizon, preferred trading features, and investment goals. Additionally, ensure the exchange you pick matches your preferred trading style.

For example, if you're a hands-off trader, you should pick a platform equipped with automated trading features and tools. Most crypto exchanges are designed with active traders in mind. If you're looking for passive crypto trading, your options are limited.  

FAQs About Crypto Exchanges

How do I exchange crypto for cash?

Are there any crypto exchanges in the US?

What are the tax implications of trading cryptocurrencies? 

Why You Should Trust Us: Our Expert Panel For The Best Cryptocurrency Exchanges

Sandra Cho and Tessa Campbell headshot for expert investing panel
Rebecca Zissar/Business insider

We interviewed the following investing experts to see what they had to say about cryptocurrency exchanges.

What are the advantages/disadvantages of investing through a cryptocurrency exchange?

Sandra Cho:

"The advantages to investing through a cryptocurrency exchange are the ease of trading and functionality. These exchanges are built for cryptocurrency are are made as such.

"The disadvantages, however, are important. Recently, several cryptocurrency exchanges have gone under, and investors have lost significant amounts of money. Given that this industry and asset class is still relatively new, there are unique risks that are nor present in traditional investments like stock and bonds. Investing through a cryptocurrency leaves you at the will of the exchange itself, which has a non-zero possibility of going defunct."

Tessa Campbell: 

"Investing through a cryptocurrency exchange offers several advantages, including access to real-time market data and research, trading strategies, and multiple cryptocurrency options to add to individual brokerage accounts, retirement accounts, and more.

"Some disadvantages include high trading fees, limited resources, and frequent fraudulent activity. These platforms are often criticized for their inadequate security measures, risky trading, and subpar customer support."

Who should consider investing through a crypto exchange?

Sandra Cho:

"Investors with an extremely high-risk tolerance and those that understand the inherent risks in investing through cryptocurrency exchanges may want to consider using an exchange. However, they should be wary of the risks and the lack of oversight that is apparent in the industry."

Tessa Campbell:

"You may want to consider investing through a crypto exchange if you're primarily focused on trading crypto and other decentralized currencies. Moreover, you'll want to have a high investing risk tolerance and a hands-on trading approach."

Is there any advice you'd offer someone who's considering investing in cryptocurrencies through a crypto investment app?

Sandra Cho:

"I would tell them to first potentially reconsider dealing with cryptocurrencies at all. The asset class is extremely volatile and unregulated. If they insisted, I would then tell them to do their research on the relevant exchanges and choose the one that is safest and best backed. As mentioned, many crypto exchanges have gone under recently, which is a huge risk to the investor."

Tessa Campbell:

"Make sure you fully understand the risks involved in purchasing highly volatile cryptocurrencies like bitcoin, ether, or dogecoin. You should also ensure that the cryptocurrency exchange you're investing through is free of scams, bad business practices, or public scandals. One way to check this is with the Better Business Bureau's grading system."

Methodology: How We Reviewed the Best Cryptocurrency Exchanges


Business Insider applied its rating methodology for investing platforms to dozens of cryptocurrency exchanges to find the best options for crypto traders. The criteria for comparing crypto exchanges include the platforms' fees, asset/account security, accessibility score, and customer support. All investment platforms are given a rating between 1 and 5.

About the Authors:

1. Tessa Campbell

Tessa Campbell is an investing and retirement reporter on Business Insider’s personal finance desk. Over two years of personal finance reporting, Tessa has built expertise on a range of financial topics, from the best credit cards to the best retirement savings accounts.ExperienceTessa currently reports on all things investing — deep-diving into complex financial topics, shedding light on lesser-known investment avenues, and uncovering ways readers can work the system to their advantage.As a personal finance expert in her 20s, Tessa is acutely aware of the impacts time and uncertainty have on your investment decisions. While she curates Business Insider’s guide on the best investment apps, she believes that your financial portfolio does not have to be perfect, it just has to exist. A small investment is better than nothing, and the mistakes you make along the way are a necessary part of the learning process.Expertise: Tessa’s expertise includes:
  • Credit cards
  • Investing apps
  • Retirement savings
  • Cryptocurrency
  • The stock market
  • Retail investing
Education: Tessa graduated from Susquehanna University with a creative writing degree and a psychology minor.When she’s not digging into a financial topic, you’ll find Tessa waist-deep in her second cup of coffee. She currently drinks Kitty Town coffee, which blends her love of coffee with her love for her two cats: Keekee and Dumpling. It was a targeted advertisement, and it worked.

2. Elias Shaya

Elias Shaya is a Compliance and Operations Associate on Business Insider's personal finance team in New York. He collaborates with the editorial team to provide timely, accurate, and impartial financial advice to readers ExperienceElias is a point person on multiple personal finance topics, from credit cards to investment products. He ensures editorial content is transparent and accessible through clear and precise language while also complying with regulatory and partner marketing guidelines. Since joining as a compliance fellow in 2022, Elias has played a crucial role in the team’s compliance efforts, ensuring no stone is left unturned. His close attention to detail and broad knowledge of various complex financial subjects help minimize risk for partners while protecting editorial independence so readers get the best possible advice. Expertise: Elias’ expertise includes:
  • Credit cards
  • Investing
  • Loans
  • Mortgages
Education: Elias graduated from the College of Staten Island with a degree in International Business.When he’s not reviewing or updating personal finance topics, Elias enjoys traveling, comedy shows, and binge-worthy TV shows.


This post appeared first on Business Insider.

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