The 5 most preferred crypto exchanges you can use in 2024
Trading cryptocurrency has increasingly become the norm for individuals of varying classes as well as organizations and even governments across the globe. This is because cryptocurrency has the potential to be commercially profitable. But trading cryptocurrencies is usually not a very easy task, especially if you are new to the system. It’s complex terms and statistical data may be difficult to understand for a newbie; however, a little exposure coupled with diligence and a keen interest can simplify all these complexities.
So if you want to trade cryptocurrencies, you will need an exchange. A cryptocurrency exchange is an internet-based marketplace where users may purchase and trade virtual currencies like Tether, Ethereum, and Bitcoin. While there can only be either decentralized exchange (DEX) or centralized exchange (CEX), crypto exchanges like e-brokerages operate on digital marketplaces via PC features or mobile apps and act as middlemen between buyers and sellers. Cryptocurrency exchanges enable users to swap cryptocurrencies for fiat cash or alternative coin types.
There are a myriad of crypto exchanges in existence, which one can choose from, but the task of choosing which platform is best often is a daunting task. People who trade or invest in cryptocurrencies seek several benefits and peculiar functionalities within the exchange they settle for, and if a particular exchange does not satisfy their expectations, which may be the quest for relatively low trading rates, they might just leave for another. Currently, the market records that there are 1,492 active crypto exchanges in the world (both decentralized and centralized). But if the inactive exchanges are also included, then we can say that there are a total of 1,637 crypto exchanges worldwide. In this article, we will be exploring the 5 most preferred crypto exchanges you can use in 2024.
Here are some of the most preferred centralized crypto exchanges in 2024:
- Binance: Considered the best crypto exchange overall, Binance users enjoy high liquidity and a large selection of features, which provide its users with multiple choices while seamlessly navigating the app. It is also the most popular exchange in the world, with approximately 30 million users who actively buy, sell, and store cryptocurrencies on the platform.
- Coinbase: If you are a newbie in the world of crypto trading, then this is the best exchange for you. It is ideal for beginners because of its easy user interface and its stellar track record in security.
- Kraken: This is also known widely for its long track record of keeping customer assets safe. It is considered the best exchange if the security of your assets is your top priority.
Here are some of the most preferred decentralized crypto exchanges in 2024:
- Uniswap: This is often considered the best decentralized crypto exchange (DEX) for token swaps because users can simply trade from their wallet.
- GMX: GMX operates on Arbitrum and Avalanche. It offers high leverage and is an ideal DEX for derivatives because of its zero-price impact design, advanced trading features, and organic demand, among others.
According to Forbes, Binance, Coinbase, and Kraken are among the leading crypto exchanges in terms of transactions and registered users. While over a thousand others exist as earlier established, we have curated only the top 5 most preferred crypto exchanges you can use in 2024 and hope that you find it helpful.
