Best Cryptocurrency Platforms and Mobile Apps in 2024

To a complete beginner the idea of crypto trading may seem daunting. Crypto is evolving rapidly, so there is a wide variety of ways to trade. You can even do it on your smartphone! But because of this abundance of choice, choosing the best crypto exchange app or platform for yourself is not easy and requires research, comparison, and a lot of trial and error. To save you time (and possibly money), we prepared an overview of the best crypto exchange platforms. In our analysis we focus on fees, features, security, and ease of use.

Why It Is Important

Your experience of trading crypto is greatly affected by the way you go about it. If you choose a crypto exchange platform that is convenient to you, you will have an easier time figuring everything out, less likely to do something by mistake, and more likely to have the right tools for the job. To this end, this overview is broken in two parts: the best crypto exchange platforms (including the best platforms for beginners), and the best mobile crypto exchange apps.

Security

This subject is important enough to merit a separate section. The safety of your funds must be paramount when you choose a platform to trade on. Security by itself is a vast topic, but for simplicity’s sake it can be boiled down to 2 essential practices.

• Two-factor authentication (2FA). This requires the user to supply an additional proof of identity after the usual login and password. It might be a prior known PIN, a randomly generated code from a phone app, or even some type of biometrics. 2FA provides an extra layer of security, ensuring that it’s harder for an attacker to impersonate you and steal your funds.

• Cold storage. This means that the crypto coins are stored offline. If the storage is not connected to the exchange directly via the internet, then in the case of a security breach when hackers gain access to the platform, they will not gain access to your funds. Whether on remote hardware or even securely stored paper documents, cold storage is a staple security measure.

Best Platforms

First, let’s talk about traditional online platforms that you may access from the browser on your computer. Your choice of the best crypto exchange website heavily depends on whether you are a newbie or an experienced trader. 

Beginner-Friendly Platforms

You are new to the game and eager to make your first steps in crypto trading. You want to learn, but feel a little intimidated by all the charts and graphs. If this rings true, then you might want to stick to more beginner-friendly platforms for the time being. The best crypto exchange platform for you is the one that:

• Has an intuitive UI.

• Easy to use.

• Offers a lot of educational materials.

• Has great customer support.

There are plenty beginner-friendly platforms, but we recommend you to consider one of the following ones.

Coinbase

One of the most globally available crypto platforms. It’s readily available for beginners with its user-friendly design and strong security. Right now it is the best rated exchange on cryptocompare.com. Has a separate platform aimed at traders, called Coinbase Pro.

Pros:

• User-friendly interface.

• High security.

• Digital assets insurance.

• Easy fiat to crypto conversion.

• Lots of educational materials.

Cons:

• Comparatively high fees.

• Not many advanced trading tools.

Kraken

Kraken is one of the largest crypto trading platforms worldwide. It is universally praised for the abundance of features, such as advanced order types and various trading options (spot/margin/futures), as well as robust security. It has a dedicated sub-platform for advanced users called Kraken Pro, which features a customizable interface, rich analytical toolbox, and is aimed at professional investors. But the base platform is easy to use even for complete beginners.

Pros:

• Advanced trading features.

• Strong security.

• Moderate fees for high-volume cryptotraders.

• Wide range of coins.

Cons:

• Not a lot of payment options.

• The customer support sometimes is very slow.

eToro

This platform introduces a social element to crypto trading. Starting is never easy. There is a lot of anxiety associated with investing your hard-earned money. Some people feel safer when they can observe and copy professional traders, and eToro’s Copy Trading feature allows exactly that. You may look up the profiles of professional day traders, follow their lead, and learn a thing or two from the way they invest in crypto.

Pros:

• User-friendly interface.

• High security.

• Demo account to practice trading.

• Social trading features.

Cons:

• Flat withdrawal fees.

• Relying on Copy Trading too much may stymie your growth as a trader.

• Slower returns due to spread-based fees.

Advanced platforms

These are mammoths filled to the brim with advanced features that may be a tad difficult for a beginner trader. Use them if you feel the need for more advanced tools in your arsenal.  

To an experienced trader the beginner-friendly UI and educational materials aren’t really that relevant. The best online crypto exchange for you will have:

• Advanced features: margin trading, futures trading etc.

• Analytical tools.

• High liquidity and leverages. 

• Low fees, since they might significantly affect your profits.

Bybit

Bybit is a centralized crypto exchange focused on derivatives trading. Its main feature is trading perpetual contracts, which are essentially futures contracts but with no expiration date. Bybit is top 2 on coinmarketcap.com and is highly popular with experienced investors, due to its high leverages and competitive fees. 

Pros:

• Advanced derivative-specific features.

• High leverage options.

• Low fees for active traders.

Cons:

• Legal specifics may vary in different countries.

• High leverage crypto trading is very risky due to price volatility. 

SynFutures

SynFutures is the biggest DEX (decentralized exchange) that specializes in derivatives by trade volume according to coinmarketcap.com. However, there is an interesting twist. SynFutures specializes in so-called ‘synthetic assets’, which are created to mimic the prices and other characteristics of other coins, stocks, and fiat currencies. They are not represented by the things they mimic, but instead created through complex financial instruments. It’s a way to trade assets without having to actually possess them.

Pros:

• Decentralization, which leads to greater transparency.

• Easy access to any financial instrument needed.

• Communal governance of the platform by users.

Cons:

• High financial risk, as with any derivatives trading.

• Regulatory ambiguity, since not all countries have relevant legislation yet.

• Technical risks due to reliance on smart contracts and the Ethereum network.

Bitfinex

Bitfinex is a prominent cryptocurrency exchange known for its extensive range of trading options. It’s one of the oldest exchanges, as well as the most liquid ones. In 2016 the platform was hacked and a significant amount of bitcoin was stolen. Since then, Bitfinex drastically improved its security protocols.

Pros:

• High liquidity.

• High token variety.

• Supports margin trading.

Cons:

• Unavailable in the US due to regulations.

• Has suffered breaches in the past.

Mobile Apps

Trading on-the-go is a necessity in a world that is rapidly changing. Especially when we talk about something as volatile as crypto prices. Fortunately, most of the best crypto exchange platforms have apps for smartphones. At the very least, most of the platforms mentioned in this overview have mobile app versions that inherit the pros and cons of their website versions.

Сrypto trading apps offer mostly the same basic functions as their desktop counterparts. You can deposit and withdraw funds, trade coins and derivatives, stake crypto, access your account and customer support. 

Unique Features of Mobile Trading Apps

However, mobile apps do have several advantages over traditional desktop platforms. Two of the most prominently used are:

• Push notifications. Many mobile platforms send notifications for price changes and other events that may merit immediate attention from the trader. These are often customizable, so you can fine tune notifications to suit your specific needs. 

• Biometric 2FA. Mobile apps provide the ability to access your account using biometrics like fingerprint scans and face recognition. This makes two-factor authentication faster and more secure in some cases.

However, the choice of the app comes down to personal preference, so let us provide one more notable, mobile app oriented option, so you can choose the best crypto exchange app for yourself.

Crypto.com

Crypto.com is a crypto trading app with a variety of additional features. Besides the usual buy-sell-store functionality, the app allows its users to take fiat loans, using their coins as collateral without credit checks. 

The unique feature that physically cannot be supported by a platform with no mobile app is crypto.com’s own Crypto Pay. It allows you to pay with crypto using your phone at any store that accepts Visa, just like with Apple pay or Google pay.

Pros:

• User-friendly interface.

• Some actions earn rewards in Cronos, the app’s own cryptocoin.

• No trading fees for certain trading pairs.

• Wide selection of coins to trade.

Cons:

• Slow customer support via chat system.

• Rewards are susceptible to Cronos value changes.

Bitpanda

Another app, Austria-based trading platform called Bitpanda, offers not only crypto trading, but also stocks and precious metals. This way users can ensure that their eggs aren’t all in one basket. It has an additional service called Bitpanda Pro that is aimed at high volume traders. It offers more trading and analytical tools, as well as lower fees.

Pros:

• User-friendly interface.

• Offers 3 crypto index funds for more diversification.

• Wide variety of financial instruments.

Cons:

• Smaller coin variety.

• Higher crypto trading fees.

• Europe only.

Conclusion

To choose the best crypto exchange platform you will need to consider which of the numerous options suits you and your goals the best. Whether you decide to use a complex desktop platform or a newbie-friendly mobile app, take your time, learn the ropes, be diligent and pay attention to detail. If you do, you will set yourself up for success in the world of crypto trading.

Tips and Recommendations

• None of the information above should be considered self-sufficient financial advice! This is simply a brief overview of the crypto exchange platforms. If you wish to partake in crypto trading of any type, do your own thorough research.

• Before setting up an account on any crypto exchange, make sure that your device is free from malware, otherwise the security of your assets may be at risk.

• Check if the chosen platform is compliant with the regulations of your country to avoid any legal trouble down the road.