Top Crypto Exchanges: Binance, Coinbase Exchange, Bybit, OKX, Upbit
Top 5 Cryptocurrency Exchanges to Know in 2024
Exploring the right cryptocurrency exchange can be tough with so many options available. To make it easier for you, we’ve put together a user-friendly guide to the top five exchanges for 2024. Whether you're a beginner or an experienced trader, this list covers everything from trading volume and liquidity to supported markets and standout features. Let’s dive into the top contenders:
1. Binance
Founded in 2017 by Changpeng Zhao (CZ) and Yi He, Binance has grown to be the world’s biggest crypto exchange in terms of trading volume, handling an impressive $69.5 billion daily. With a user base of over 90 million, Binance provides access to more than 350 cryptocurrencies. The platform isn’t just an exchange; it’s an ecosystem with features like Binance Labs, educational content, and NFT services.
Key Features :
Fee Structure: Spot trading fees start at 0.10%, with margin trading available up to 10X leverage.
Accessibility: Restricted in regions like the U.S., Singapore, and Ontario (Canada) due to regulatory issues.
Average Liquidity: 849
Weekly Visits: Over 10 million
Markets Available: 1,660
Coins Supported: 434
Fiat Supported: EUR, GBP, BRL, and more
2. Bybit
Bybit, launched in 2018 by Ben Zhou, has positioned itself as the second-largest exchange by trading volume, processing around $12.8 billion daily. It’s popular among over 40 million users for its robust spot trading and extensive derivatives offerings, allowing up to 100X leverage. Bybit’s trading fees start at 0.10%. However, it’s not available in the U.S., UK, and mainland China due to local regulations.
Key Features:
Average Liquidity: 606
Weekly Visits: Over 4 million
Markets Available: 1,041
Coins Supported: 686
Fiat Supported: USD, EUR, GBP, and others
3. Coinbase Exchange
Founded in 2012 by Brian Armstrong and Fred Ehrsam, Coinbase is a go-to for beginners due to its user-friendly interface. Handling about $11.6 billion in daily trading volume, it supports over 150 cryptocurrencies. Trading fees on Coinbase range from 0.00% to 0.60%, and the platform offers up to 3X leverage for certain users. Coinbase is available in over 100 countries but may face restrictions in specific regions.
Key Features:
Average Liquidity: 704
Weekly Visits: Over 35,000
Markets Available: 409
Coins Supported: 262
Fiat Supported: USD, EUR, GBP
4. OKX
Previously known as OKEx, OKX was established in 2017 under Star Xu’s leadership. It is known for its wide variety of trading options, including spot, futures, and options. The exchange handles approximately $12.5 billion in daily trading volume and supports over 350 cryptocurrencies. OKX allows up to 125X leverage on derivatives, with fees starting at 0.10%. However, it’s not available in the U.S. due to regulations.
Key Features:
Average Liquidity: 611
Weekly Visits: Over 5 million
Markets Available: 776
Coins Supported: 302
Fiat Supported: AED, ARS, AUD, and more
5. Upbit
Founded in 2017 by Song Chi-hyung, Upbit is South Korea’s largest cryptocurrency exchange. With a daily trading volume of about $17.1 billion, it supports more than 180 cryptocurrencies. Upbit’s trading fee for KRW pairs is as low as 0.05%, but it does not offer leverage trading. The platform restricts services in high-risk countries as defined by FATF.
Key Features:
Average Liquidity: 543
Weekly Visits: Over 1 million
Markets Available: 380
Coins Supported: 217
Fiat Supported: KRW
Conclusion
Each of these top cryptocurrency exchanges brings something unique to the table. Binance leads in volume and diverse features, Bybit is ideal for derivatives trading, Coinbase shines with its beginner-friendly approach, OKX offers a wide range of options, and Upbit holds its ground as the most prominent exchange in South Korea. Choose the exchange that best suits your trading style, security needs, and fee preferences.
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