1. Binance
- High volume, liquidity, and user base.
- Wide support for both fiat and cryptocurrencies.
- Legal/regulatory actions: None reported as of the current update.
2. Coinbase
- Known for user-friendly interface and high liquidity.
- Strong support for fiat-to-crypto transactions.
- Legal/regulatory actions: No significant issues reported.
3. Kraken
- Offers ease of use and robust trading volumes.
- Supports various fiat currencies and cryptocurrencies.
- Legal/regulatory actions: No major concerns reported.
4. KuCoin
- Growing user base and liquidity.
- Multi-currency support and intuitive interface.
- Legal/regulatory actions: No significant issues reported.
5. Bybit
- Increasing popularity for derivatives trading.
- Supports multiple cryptocurrencies.
- Legal/regulatory actions: No major issues reported at present.
Throughout 2023, despite the setback faced by FTX, numerous crypto exchanges have shone by demonstrating transparent proof of reserves, instilling confidence in their users. In anticipation of 2024, we've curated a selection of five leading global crypto exchanges known for their robust funding, substantial trading volumes, diverse asset offerings, support for major fiat currencies, and impressive CMC scores, positioning them as prime choices for the year ahead.
1. Binance: As the largest crypto exchange globally, Binance continues to dominate the market, offering a wide array of assets and features such as an NFT marketplace, peer-to-peer trading, and diverse DeFi solutions. With a daily trading volume of around $16 billion and an average of 2 million daily visitors, Binance lists approximately 400 coins and boasts a CMC score of 9.9 on CoinMarketCap. Despite encountering regulatory challenges in 2023, including a $4 billion settlement with the Department of Justice, Binance is poised for a renewed operational phase, albeit accessible in only 45 countries.
2. Coinbase: Renowned, especially in the USA, Coinbase stands as a prominent exchange catering to a wide range of crypto needs. Despite a daily trading volume nearing $3 billion and 125k daily visitors, its standout feature includes a self-custody wallet, offering users control over their funds. Accepting fiat currencies in USD, GBP, and EUR, Coinbase remains a preferred platform, even amidst regulatory scrutiny from the US SEC and CFTC.
3. Kraken: Offering a strong DeFi platform, Kraken attracts users seeking an exchange with diversified offerings. With over 200k average daily visitors and a daily trading volume of nearly $1.2 billion, it lists over 244 coins and supports various fiat currencies. However, similar to others, Kraken faces allegations from the US SEC as of November 20, 2023, and operates in over 190 countries but is restricted in select regions.
4. KuCoin: Highlighting top-notch security and user-friendliness, KuCoin features the highest number of listed cryptocurrencies (735) and supports 48 fiat currencies. With a daily trading volume approaching $1.15 billion and 350k daily visitors, it's accessible in over 200 countries. Recently settling a lawsuit with New York’s Attorney General for $22 million, KuCoin exited the New York crypto market, aligning with its global outreach.
5. ByBit: With nearly 500 cryptocurrencies available for purchase using various fiat currencies, Bybit boasts a daily trading volume nearing $3 billion and an average of 725k daily visitors. Offering high leverage and beginner-friendly features like $1 perpetual contracts, Bybit operates in more than 180 countries, maintaining a high level of compliance without recent regulatory issues.
As Voice of Crypto prioritizes accuracy but disclaims responsibility for missing or inaccurate data, it underscores the volatile nature of cryptocurrencies and advises thorough research before financial decisions.