Top 15 Underrated Cryptocurrency Exchanges For 2024

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6 Feb 2024

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In the dynamic world of cryptocurrencies, identifying promising exchanges is crucial for investors. Uncover hidden potential with our list of the “Top 15 Underrated Cryptocurrency Exchanges for 2024.” These platforms offer distinctive features and opportunities that often go unnoticed in the crowded crypto landscape.

As traditional exchanges dominate headlines, these underrated gems provide a fresh perspective, presenting traders with unique advantages and potential for significant gains. Whether you’re a seasoned investor or a newcomer to the cryptocurrency exchange development space, this curated selection introduces lesser-known exchanges that deserve attention. Stay ahead of the curve and explore diverse trading options, innovative features, and emerging projects that could shape the future of cryptocurrency trading in 2024. Don’t miss out on the untapped possibilities these exchanges bring to the table in the ever-evolving world of digital assets.

What is Cryptocurrency Exchange?

A cryptocurrency exchange is an online platform that facilitates the buying, selling, and trading of digital currencies, such as Bitcoin, Ethereum, and others. These platforms act as intermediaries, connecting buyers and sellers and providing a marketplace for the exchange of cryptocurrencies.

Users can create accounts, deposit funds, place orders, and execute trades, with the exchange serving as a secure and efficient mechanism for price discovery and liquidity. Cryptocurrency exchanges come in various types, including centralized exchanges (CEX) and decentralized exchanges (DEX), each with its own features and functionalities.

Top 15 Underrated Cryptocurrency Exchanges

Cryptocurrency exchanges play a crucial role for investors interested in trading or investing in digital currencies. When deciding on a crypto exchange, it becomes pivotal to consider aspects such as features, the range of supported cryptocurrencies, and security measures in place. Below, we delve into the details of the top 15 cryptocurrency exchange platforms along with their distinctive features:

Binance

Coinbase

Bybit

Kraken

KuCoin

HTX

OKX

Bitfinex

Crypto.com

Poloniex

BingX

EXMO

Bitvavo

HitBTC

One Trading

》Binance

Binance stands out as the foremost cryptocurrency exchange platform, catering to both novices and seasoned traders alike.

In addition to maintaining generally low fees, Binance imposes no charges for transactions in the P2P trading realm.

Supported cryptocurrency markets: Extending its reach to over 500 different cryptocurrencies.
Fee structure: Binance adopts a 0.1% fee for spot trading, with no fees attached to fund deposits. Withdrawal charges are contingent on factors such as network congestion.
Security measures: Binance enhances security through 2FA authentication, backed by FDIC insurance. It also offers advanced features like wallet address whitelisting and device management.

》Coinbase

Coinbase emerges as the optimal cryptocurrency exchange for those taking their initial steps into the crypto realm. It not only offers impressive features but also prioritizes robust security measures for users’ funds.

Supported cryptocurrency markets: Encompassing a broad spectrum with over 100 different cryptocurrencies.
Fee structure: Coinbase adopts a flexible fee system, ranging from 0.5% to 4.5%. The variation depends on factors such as the chosen payment method, type of cryptocurrency, transaction size, and market conditions such as volatility and liquidity.
Security measures: Coinbase employs cold storage to safeguard users’ funds. It facilitates 2FA authentication and reinforces users’ wallets with 256-bit AES encryption.

》Bybit

Bybit stands as a cryptocurrency derivatives exchange, allowing users to engage in trading with up to 100x leverage on select assets.

The platform facilitates the trading of quarterly future contracts, boasting an impressive transaction processing speed of 100,000 TPS, especially advantageous for those keen on leverage trading.

Supported cryptocurrency markets: Bybit caters to 20 different cryptocurrencies.
Fee structure: Initiating with a base trading fee of 0.1%, the fee structure fluctuates based on user levels and the type of trading conducted. Additionally, there is a withdrawal fee of 0.0005 BTC per BTC withdrawal, and Bybit does not accept fiat deposits.
Security measures: Bybit ensures security through 2FA and SSL encryption on its website. A majority of funds are stored in a multi-signature cold wallet for enhanced protection.

》Kraken

Kraken, a prominent crypto exchange, is renowned for its robust security protocols and substantial liquidity. Recognized for its exceptional customer support, it proudly holds the esteemed title of “the most reliable crypto exchange.”

Supported cryptocurrency markets: Kraken boasts a diverse range, encompassing over 100 different cryptocurrencies.
Fee structure: The fee system at Kraken exhibits variability, ranging from 0% to 0.26%. This fluctuation depends on factors such as the currency pair, the last 30-day trading volume, and the type of market order.
Security measures: Kraken prioritizes security through the implementation of 2FA authentication. Additionally, its browser is fortified with SSL encryption, reinforcing the protection of user information.

》KuCoin

KuCoin’s cryptocurrency exchange stands out as an excellent choice for experienced crypto traders seeking advanced features. The platform provides custom trading bots, empowering users to automate their investment strategies.

Supported cryptocurrency markets: KuCoin impressively covers a broad range, supporting over 500 different cryptocurrencies.
Fee structure: Trading fees at KuCoin exhibit variability, ranging from 0.07% to 0.1% based on the last 30-day trading volume. The platform applies fees of 3.5% to 5% for deposits, and withdrawal fees are subject to change based on various factors, including the type of cryptocurrency.
Security measures: KuCoin places a strong emphasis on security, employing multilayer encryption and dynamic multi-factor authentication. The utilization of micro-withdrawal wallets further enhances the overall security of the platform.

》HTX

HTX, the crypto exchange by Huobi, presents substantial liquidity for popular trading pairs like ETH/USDT and BTC/USDT. Notably, it features a P2P trading option that imposes no transaction fees.

Supported cryptocurrency markets: HTX extends its support to over 400 different cryptocurrencies.
Fee structure: Commencing with a trading fee of 0.0362%, fees at HTX fluctuate based on factors such as the last 30-day trading volume, HT holdings, and the trader’s level.
Security measures: Huobi prioritizes security by storing funds in multi-signature cold wallets. Holding a distributed ledger technology provider license from GFSC adds an extra layer of assurance. Furthermore, Huobi maintains a security reserve fund designed to address extreme situations.

》OKX

OKX stands out as an innovative cryptocurrency exchange, offering more than just trading and staking services. Users also have the option to engage in cryptocurrency mining. OKX goes the extra mile by providing a variety of order types, along with features like margin trading and futures trading.

Supported cryptocurrency markets: OKX caters to a diverse range, supporting over 100 different cryptocurrencies.
Fee structure: Initiating with a trading fee of 0.15%, fees at OKX vary based on the last 30-day trading volume and user levels. Notably, OKX does not impose fees for deposits, while withdrawal fees are subject to variations based on factors such as the type of cryptocurrency.
Security measures: OKX prioritizes security through 2FA authentication and employs the Rivetz authenticator for an added layer of protection. The utilization of cold storage further ensures the security of users’ funds.

》Bitfinex

Bitfinex, a cryptocurrency exchange, caters specifically to seasoned traders, offering advanced features such as margin trading and crypto lending.

Supported cryptocurrency markets: Bitfinex covers a diverse array, supporting around 150 different cryptocurrencies.
Fee structure: With trading fees commencing at 0.1%, Bitfinex extends fee discounts to users holding LEO tokens.
Security measures: Bitfinex prioritizes security through 2FA authentication and the implementation of advanced APIs, coupled with withdrawal protection features. Additionally, the use of cold storage ensures the secure storage of users’ funds.

》Crypto.com

Crypto.com’s exchange stands out by supporting a diverse array of cryptocurrencies and facilitating the buying and selling of crypto with over 20 fiat currencies. In addition to maintaining low fees, it extends discounts to customers holding Crypto.com coins (CRO).

Supported cryptocurrency markets: Crypto.com covers an extensive range, supporting over 200 different cryptocurrencies.
Fee structure: Offering competitive fees, Crypto.com starts at 0.4% for a monthly trading volume below $25,000.
Security measures: Crypto.com ensures security through FDIC insurance, 2FA authentication, and the utilization of cold storage. A bug bounty program further contributes to the platform’s commitment to security.

》Poloniex

Poloniex, a cryptocurrency exchange based in the Republic of Seychelles, stands out for its headquarters location. Renowned for its cost-effectiveness and offering discounts to high-volume traders, the platform also provides users with the opportunity to earn interest by lending funds.

Supported cryptocurrency markets: Poloniex boasts an extensive range, supporting over 250 different cryptocurrencies.
Fee structure: Initiating with a trading fee of 0.0145% for maker trades and 0.155% for taker trades, the fees apply if the last 30-day volume is below $50,000. Users can avail discounts by utilizing Tron for payments.
Security measures: Poloniex enhances security through 2FA authentication and email authentication. However, it’s important to note that the platform has a history of security issues, having experienced two hacks — one in 2014 and another in 2020, where hackers managed to steal approximately $4 million in Bitcoin.

》BingX

BingX crypto exchange proves to be a favorable option for users in search of low fees and a variety of order types. Going beyond crypto-to-crypto trading, BingX extends its services to include fiat-to-crypto trading as well.

Supported cryptocurrency markets: BingX stands out by supporting an extensive array, encompassing over 620 different cryptocurrencies.
Fee structure: Commencing with maker and taker fees at 0.1%, BingX provides fee reductions based on the last 30-day trading volume.
Security measures: BingX prioritizes security through 2FA authentication and the implementation of wallet and IP address whitelisting, enhancing the overall safety of user accounts.

》EXMO

EXMO, a cryptocurrency exchange, extends its services to over 200 countries globally. Offering support for five distinct payment methods — crypto, bank transfer, Visa/Mastercard, AdvCash, and Payeer — it provides flexibility for deposits and withdrawals.

Supported cryptocurrency markets: EXMO stands as a platform supporting over 50 different cryptocurrencies.
Fee structure: Maintaining simplicity, EXMO adopts a flat trading fee of 0.2%. Maker and taker charges, however, fluctuate based on trading volume. Meanwhile, deposit and withdrawal fees vary depending on the chosen payment methods and currency type.
Security measures: EXMO prioritizes user security through 2FA authentication. Additionally, users have the option to create a list of trusted IP addresses, further enhancing the security of their accounts.

》Bitvavo

Bitvavo, a cryptocurrency exchange, caters to both novice and seasoned traders by offering a user-friendly platform with advanced features such as multiple order types. Beyond individual traders, Bitvavo extends tailor-made services for institutional investors and crypto funds.

Supported cryptocurrency markets: Bitvavo showcases a diverse range, supporting over 50 different cryptocurrencies.
Fee structure: Introducing a maker fee starting at 0.15% and a taker fee starting at 0.25%, Bitvavo provides fee reductions based on the trading volume, offering a cost-effective trading experience.
Security measures: Bitvavo prioritizes security through 2FA authentication, IP and address whitelisting, and permission-based access. A significant portion of users’ funds is securely stored in cold storage, ensuring an added layer of protection.

》HitBTC

HitBTC, a versatile cryptocurrency exchange, stands out as a multi-currency digital platform. With an expansive offering of over 800 cryptocurrency trading pairs, it boasts an easily navigable interface for user convenience.

Supported cryptocurrency markets: HitBTC caters to a broad spectrum, supporting over 400 different cryptocurrencies.
Fee structure: The trading fee initiates at 0.2%, with variations based on the last 30-day trading volume and the average token balance over the same period. This structure ensures flexibility and adaptability for users.
Security measures: HitBTC prioritizes security through 2FA authentication, advanced encryption technology, and the utilization of cold storage, providing a robust framework for safeguarding user assets.

》One Trading

Formerly known as Bitpanda Pro, One Trading crypto exchange distinguishes itself with a clean interface, making it an ideal choice for new investors. Recognized as one of the most cost-effective platforms, it stands out for its affordability in the instant buying and selling of Bitcoin.

Supported cryptocurrency markets: One Trading caters to a concise yet diverse range, supporting over 20 different cryptocurrencies.
Fee structure: With maker and taker fees potentially as low as 0.05%, the fees vary based on trading volume. The maximum maker fee stands at 0.1%, and the highest taker fee is 0.15%, offering users a transparent and flexible fee structure.
Security measures: One Trading emphasizes security by enabling 2FA authentication for users. Additionally, it ensures the safety of funds by storing them in secure offline wallets, leveraging state-of-the-art technology for enhanced protection.

Conclusion

In conclusion, the “Top 15 Underrated Cryptocurrency Exchanges for 2024” offer a refreshing alternative in the competitive crypto market. These hidden gems provide investors with unique opportunities and innovative features that set them apart from more widely recognized platforms. As the crypto landscape continues to evolve, diversifying your trading strategy by exploring these underrated exchanges could prove to be a strategic move.

By delving into these lesser-known platforms, traders can potentially discover untapped potential, emerging projects, and new avenues for profitable investments. As the crypto ecosystem expands, staying informed about these underrated exchanges ensures that you remain adaptable and open to the diverse possibilities that the world of digital assets has to offer. Embrace the future of cryptocurrency trading by exploring these underappreciated platforms, and position yourself for success in the ever-changing and dynamic realm of blockchain technology.