Best Crypto Exchanges 2024: Safe, Reliable, and Top for Crypto Trading

There are five top features that you should expect from a crypto exchange, and we're going to look at the biggest crypto exchanges in the world and how they compete in these five areas. By the end of this post, you should be able to make a decision about which crypto exchange is best for you.

Five Essential Features of a Crypto Exchange

1. Good Fiat Currency On/Off Ramps: Essential for getting money in and out of these platforms.
2. Good Crypto On/Off Ramps: Allows withdrawals to personal wallets or across exchanges.
3. Low Trading Fees: Minimizes the cost of trading.
4. Trustworthiness: Ensures the safety and security of your assets.
5. Value-Added Features: Additional benefits that enhance the user experience.

This guide will assist you in choosing an exchange. If you want detailed tutorials on setting up accounts, depositing money, and trading, check out the links in the description.

Trustworthiness of Exchanges

Publicly Listed vs. Private Exchanges

• Coinbase: A publicly listed company with top-tier lawyers and accountants, ensuring no funny business.
• Private Exchanges: More difficult to assess due to lack of transparency, but many now offer "proof of reserves".

Proof of Reserves

• Allows exchanges to cryptographically prove ownership of certain wallets and assets, ensuring customer funds are secure.
• Major exchanges adopt this industry standard, giving assurance that assets are held one-to-one.

Potential Risks

• Even with proof of reserves, companies can go bankrupt, locking up assets in a bankruptcy process.
• A crypto exchange is not a bank; they should not lend out or sell deposited assets. Proof of reserves is currently the best standard for trustworthiness.

Fiat Currency On and Off Ramps

Card Payments

• Popular but expensive, with fees ranging from 1.8% to 3%.

Bank Transfers

• Usually free, depending on the country and banking system.
• Withdrawals can range from zero to $15.

PayPal Withdrawals

• Available with Coinbase, though fees apply.

Peer-to-Peer Payments (P2P)

• The exchange acts as an escrow agent, useful in countries with limited banking support.

Combining Multiple Exchanges

• Some users prefer one exchange for fiat on/off ramps (e.g., Coinbase, Crypto.com) and another for trading (e.g., Binance, OKX) to minimize fees.

Top Exchanges for Trading

Binance, OKX, and Bybit

• Considered the top three exchanges for professional trading with low fees around 0.1%.
• Offer discounts if you hold exchange tokens (e.g., BNB for Binance).

Higher Fee Exchanges

• Coinbase, Crypto.com, and Kraken: Higher fees but offer good fiat on/off ramps and have been around for a long time.
• Trading on these platforms might include hidden fees (spreads).

Trading Screens and Layouts

Advanced Trading Features

• Binance, Bybit, OKX: Provide industry-standard trading screens with tight spreads and deep liquidity.
• Coinbase, Crypto.com, Kraken: More beginner-friendly but less suitable for advanced trading.

Extra Features: Web3 Wallets

Web3 Wallets Explained

• A crypto wallet created by the exchange, offering a mix of self-custody and exchange-linked convenience.
• Binance and OKX: Leaders in Web3 wallet technology.
• Bybit and Coinbase: Runners-up with developing features.

Benefits of Web3 Wallets

• Provide blockchain access with easy asset transfer between exchange and wallet.
• Use MPC technology for key control without seed phrases.

Comparison

• Binance and OKX: Most advanced Web3 wallets.
• Coinbase: Good but limited, still requires seed phrases.
• Kraken and Crypto.com: Developing but behind in technology.

Conclusion

Crypto exchanges do not charge custody or account fees, so it's wise to try a few and see which works best for you. Links to deposit bonuses and tutorial videos are provided in the description.

I'm James, and I hope this guide helps you in choosing the right crypto exchange for your needs. Cheers for reading, and I'll see you in the next post!

Hey guys, what is going on? My name is Th Spark, and welcome back to another video. Today, we're going to be discussing the best cryptocurrency exchange for people in the United States. I've reviewed pretty much every single cryptocurrency exchange out there, comparing lots of different things like fees, withdrawal amounts, whether they operate in the USA, if they have been hacked, and so on. You can find all this information ranked in handy dandy tiers on the sex tier list.

Top Rated Cryptocurrency Exchanges

Let's take a look at the tier list itself. We will be focusing on the top-rated cryptocurrency exchanges, which are in the S tier. I will be putting links for these in the description down below. You should be able to get discounts or at least a sign-up bonus with each one of them. The top exchanges are:

1. eToro
2. Coinbase
3. Kraken

eToro

eToro is my number one rated option, combining several factors. Here are some key points about eToro:

• Cryptocurrency and Stocks: eToro allows you to buy both cryptocurrencies and stocks on the platform.
• Security: eToro has never been hacked and offers FDIC insurance up to $250,000.
• High Fees: The fees are a bit higher than Coinbase and Kraken.
• Cryptocurrency Support: eToro supports around 25 cryptocurrencies.
• Staking: Limited staking support, mainly for Tron and possibly Polkadot or Polygon.

Despite its higher fees and limited cryptocurrency options, eToro is a trusted and versatile platform.

Coinbase

Coinbase is another excellent choice for US users. Here are some highlights:

• Staking Support: Coinbase offers the best staking support for US citizens with a wide range of cryptocurrencies.
• Stock Exchange: Coinbase is listed on the stock exchange, which adds a layer of trust.
• Security: While Coinbase has had some security issues, users have not lost funds.
• FDIC Insurance: USD on the platform is insured up to $250,000.
• Fees: Generally higher fees than Kraken, averaging around 0.50%.

Coinbase is ideal if you want extensive staking options and a wide range of supported cryptocurrencies.

Kraken

Kraken is also a strong contender. Here’s what you need to know:

• Security: Kraken has never been hacked, making it more secure compared to Coinbase.
• Fees: Lower fees than Coinbase, averaging around 0.25%.
• No Staking for US Users: Unfortunately, Kraken does not offer staking for US users.
• No FDIC Insurance: Kraken does not provide FDIC insurance for USD on the platform.

Kraken is a great choice if you prioritize lower fees and enhanced security over staking and FDIC insurance.

Which Exchange is Best for You?

 Here’s a quick summary:

• Coinbase: Best for extensive staking support and a wide range of cryptocurrencies.
• Kraken: Best for lower fees and top-notch security, though without staking and FDIC insurance.
• eToro: Best for a combination of cryptocurrency and stock trading, with good security but higher fees and limited cryptocurrency support.

Each of these exchanges has its pros and cons. Evaluate what features are most important to you, and make your choice accordingly. Remember to use the links in the description to get your bonuses and discounts.

Thank you for reading, and I'll see you again very soon!