Top Crypto Copy Trading Platforms in 2024: Our Top Picks!

A cryptocurrency exchange is a platform that allows users to buy, sell, and trade cryptocurrencies. These exchanges serve as a marketplace for cryptocurrency transactions. They provide a venue for users to trade digital assets, such as Bitcoin and Ethereum, with fiat currencies or other cryptocurrencies. It offers over 700 cryptocurrencies, including many relatively new and niche coins unavailable on other exchanges. The platform also provides competitive trading fees, making it a cost-effective option for many traders. One of the primary features of Binance is its wide selection of supported cryptocurrency assets.

So, you may find that some exchanges do not offer your favorite coins. In addition, the trading platform you choose should provide sufficient liquidity and not have any issues with regulation. Read on to discover the top five spot trading cryptocurrency exchanges for 2023. Our team reviewed 28 cryptocurrency exchanges and collected over 1000 data points before selecting our top choices. For further information about our selection criteria and process, our complete methodology is available.

The exchange supports more than 230 cryptocurrencies and boasts arguably the safest digital ecosystem for trading your crypto. Moreover, its advanced trading platform, Kraken Pro, provides a wealth of tools for experienced crypto traders. The top crypto trading platforms that have the biggest markets are Binance, Coinbase, Kraken, and OKX.

ETNs, on the other hand, are unsecured debt securities, with a fluctuating price following an underlying index of securities. Much like stocks, ETNs are an attractive trade option, which is why exchanges started introducing them to their platforms. Last but not least, there is Coinbase , the largest exchange by trading volume in the United States, and probably the most prominent name out there. Brian Armstrong and Fred Ehrsam founded Coinbase in 2012, and today it has customers in more than one hundred and ninety countries globally. The exchange processes large trading volumes, reaching a total of more than USD 2 billion at the beginning of 2021. This period is the prime time for action, marked by heightened trading volumes and opportunities.

However, these exchanges can also have higher fees and a more limited selection of cryptocurrencies than centralized exchanges. Though Webull may be less known than its rival commission-free trading app Robinhood, it provides investors with a solid offering that includes cryptocurrency trading. While you won’t pay commissions on crypto trades (or stocks and ETFs), Webull does charge a spread markup of 100 basis points (1 percent of the price) on either side of a trade. Several cryptocurrencies are available for trading, including Bitcoin, Ethereum and Dogecoin.

It’s also one of the few exchanges in the U.S. to offer margin trading and a suite of other advanced trading tools like advanced order types and futures trading. Kraken offers over 185 cryptocurrencies for trading, including Bitcoin, Ethereum, and several other popular coins. The platform also offers advanced trading features, such as margin trading and futures trading, making it a popular choice for experienced traders. Crypto broker software integrates with various external services to enhance its functionality and provide a seamless user experience. Common types of integrations include cryptocurrency exchanges, liquidity providers, payment gateways, KYC/AML providers, market data providers, trading APIs, and wallet services. Bybit supports seamless crypto trading with no fees, bank transfers, an auto-investing feature and a Bybit debit card that lets users quickly access their crypto funds.

Some exchanges also offer a flat-fee charge, which does not take into account the amount of traded cryptocurrency but charges a set amount for every successful transaction. This might be a good choice for big-time traders looking to exchange large amounts of cryptocurrency, as a percentage-based fee would probably be higher. Whenever you’re selecting a broker, it’s important to consider all of your needs.

Crypto.com offers a massive selection of digital assets, low or no fees, and additional perks for holders of its CRO cryptocurrency. Robinhood brings its no-fee ethos to cryptocurrency trading, but currently offers fewer cryptocurrencies compared to pure-play crypto platforms. With cryptocurrency’s rise in popularity, derivatives and ETNs become increasingly sought after as well. Crypto exchanges have progressively started launching derivative trading options on their platforms. However, one thing to keep in mind is that trading crypto derivatives comes with a certain amount of risk, just like with any other type of investment. Crypto derivatives and exchange-traded notes (ETNs) are assets backed by different cryptocurrencies.

• Crypto markets move crazy fast and you might find your chosen trader reacting a bit slower than you’d like.
• Other factors we considered in our methodology include their cryptocurrency selection, payment options and trade volume.
• Binance, Coinbase and Bybit are among the largest crypto exchanges by trading volume.
• The exchange offers three product lines to trade on which include derivatives, spot, and options.
• You can get rewards on crypto deposits, stake in the launchpool, and predict real-world events with prediction markets.

While it’s convenient, you might miss out on the joy of experimenting in the kitchen yourself. Our full Bitget review covers everything you need to know about this exchange. David has been deeply involved with the cryptocurrency industry since 2017. In rare cases when a large one-sided exposure has taken place in order to protect our exposure to risk we hedge the underlying asset. The support staff is professional and they are very prompt in replying… The highly competitive environment in which most companies have to operate has created conditions under which choosing a genuinely high-quality product can be difficult.

Top cryptocurrency exchanges ranked by volume aside from Binance include Coinbase, Kraken, KuCoin, and OKX. These exchanges also offer the majority of both major and Spot Trading Vs Margin Buying And Selling Pros And Cons For Binance minor cryptos on the current market. Always keep in mind that while you can make good profit spot trading on a cryptocurrency exchange, there are risks to consider.

While you’re ideally picking an exchange with the lowest costs, dwelling too much on the ins and outs of maker and taker fees can be counterproductive. That’s because you can’t choose whether your order is processed as a maker or a taker. Instead, you’re better served considering overall fees and any discounts available for trading a certain amount each month or holding an exchange’s native cryptocurrency.

Users are encouraged to use these resources through the Coinbase Earn program, which teaches how to trade specific assets and rewards users with crypto. Although copy trading offers a relatively hands-off approach to investing, it’s essential not to underestimate the importance of conducting thorough research. Before you take the plunge, it’s advisable to gather a basic understanding of cryptocurrency trading fundamentals. This knowledge will enable you to differentiate between traders employing sound strategies and those taking unnecessary risks.

Coinbase was founded in 2012 to enable people to buy, sell, and store Bitcoin. Fast-forward to today, Coinbase is a publicly traded cryptocurrency exchange geographically decentralized with no headquarters and available in 100+ countries. It stands out for providing a user-friendly trading experience, robust security, and a range of advanced features for experienced traders.

The taker fee for futures is only 0.01%, which is much lower than other platforms. It also has competitive spreads and liquidity, allowing you to trade easily and efficiently. We favored crypto exchanges that offered low service fees and ways of reducing transaction fees. In the context of cryptocurrency, liquidity refers to how easily a coin can be converted into cash or other coins. For crypto markets and exchanges, higher liquidity means there are more traders active at any given time, so orders get filled faster.