Choosing the right exchange is vital when delving into cryptocurrency trading. Some exchanges have seen a yearly revenue growth rate of 14.40%!
Whether you’re a beginner looking to dip your toe in or an expert trader wanting access to new coins, these platforms have you covered.
That’s why we have created a trend post highlighting the top 11 fastest growing crypto exchanges for 2023 & 2024.
Search growth status guide
- Moon – strong and consistent upward trend in search growth
- When Moon? – relatively flat or sideways trend
- Rekt – declining search volume after a significant peak
1. Binance
5-year search growth: 1,500%
Search growth status: Moon
Year founded: 2017
Location: Cayman Islands
Valuation: $60 Billion (Source: Dealroom)
User Base: 128 Million (Source: Finder.com)
Funding round: Binance secured funding of $36 Million through 5 rounds. Their most recent round was a $11 Million Series B round on Jun 08, 2023 (Source: Crunchbase).
What they do: Recognized widely, Binance is known as the fastest-growing exchange in the world. With a user base of 128M and competitive trading fees ranging from 0.1% to 0.5% for its 375+ tradable coins, it stands as one of the foremost in the industry.
Furthermore, catering to both institutional and individual traders, Binance offers advanced trading services, including leverage of up to 125x. Additionally, with 150+ trading pairs in its US branch and over 500 globally, it provides on-platform staking opportunities and supports 3+ payment methods for user convenience.
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Binance is a great combination of low fees, deep liquidity and multiple cryptocurrencies and trading pairs. We have tested every aspect of it and it STILL holds its reign as the top exchange in the world. In our view, it is the perfect crypto exchange for both newbies and advanced traders alike.
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Biggest exchange in the world.
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Industry's lowest trading fees.
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Advance trading options like leverage trading.
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600+ crypto options, 150+ for the US.
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Lucrative on-site staking options.
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Hiccups in account verification.
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Less regulated than some competitors.
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The corporate structure is not transparently.
2. Bitget
5-year search growth: 38,000%
Search growth status: Moon
Year founded: 2017
Location: Hong Kong, China
Valuation: Unknown
User Base: 20 Million (Source: Bitget)
Funding round/raised amount: Bitget raised $20 million from two funding rounds: a Corporate round in December 2018 and a Venture round in April 2023 (Source: Crunchbase).
What they do: Bitget is a central player in the cryptocurrency derivatives exchange. Particularly specializing in perpetual swaps and futures contracts, Bitget has rapidly gained popularity in the crypto trading community. Indeed, it marked a remarkable milestone by surpassing the total trading volume in 2022.
Moreover, as Bitget continues to expand its product offerings and global presence, it remains a significant player in the cryptocurrency derivatives exchange.
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Bitget, the crypto exchange platform, provides low transaction fees, eliminates the need for third parties, and offers copy trading features. With it, you have complete control over your account and benefit from robust security measures. The copy trading function on the Bitget platform simplifies everything for users.
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Lowest trading fees.
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No buying fees.
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Advanced copy trading.
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Diverse crypto support.
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Savings can be improved.
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Unresponsive customer support.
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Limited withdrawal options.
3. Pionex
5-year search growth: 33,500%
Search growth status: Moon
Year founded: 2019
Location: Global
Valuation: Unknown
User Base: Over 100,000 monthly (Source: SoftwareTesting)
Funding round/raised amount: Unknown
What they do: Pionex specializes in automated crypto trading and provides a comprehensive suite of tools and features for algorithmic trading, arbitrage, and various trading strategies.
In 2022, the platform experienced a remarkable surge, with trading volumes soaring by an impressive 2000% compared to the previous year. The platform’s focus on automated trading, algorithmic strategies, and arbitrage solutions has fueled its remarkable success, evident in its 2000% increase in trading volumes in 2022.
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Established in 2019, the crypto trading platform is the first to introduce built-in trading bots for investors and traders. The exchange is integrated with 16 automated trading bots for free! The user-friendly interface, innovative mobile app, and low trading fees have all contributed to the increasing popularity of the Pionex exchange.
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16 built-in trading bots with detailed tutorials.
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Aggregates liquidity from Binance and Huobi.
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120 different cryptocurrencies.
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Trading fee of 0.05% on each transaction.
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Easy-to-use mobile app.
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Limited flexibility to modify the built-in bots.
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No demo account
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No desktop app is available.
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No withdrawals in fiat currency.
4. MEXC
5-year search growth: 5,300%
Search growth status: Rekt
Year founded: 2018
Location: Seychelles
Valuation: Unknown
User Base: 10+ Million (Source: MEXC)
Funding rounds: In 2023, MEXC raised $2.8 million in two funding rounds: $1.3 million in a March Seed VC round and the rest on April 4th using the same method. (Source: Crunchbase).
What they do: MEXC, established in 2018, operates as a centralized cryptocurrency exchange. By offering over 200 cryptocurrencies, it effectively meets the diverse needs of its users.
In light of recent developments this year, MEXC’s $10 million funding round reflects significant investor confidence. Having been established in 2018, this Seychelles-based centralized exchange proudly offers over 200 cryptocurrencies. Furthermore, attracting over 5 million users in 2022, it consistently stands out as a trusted choice in the crypto market.
5. OKX
5-year search growth: 900%
Search growth status: Moon
Year founded: 2017
Location: Global
Valuation: Unknown
User Base: 50 Million (Source: Wikipedia)
Funding round/raised amount: Unknown amount; OKX has undergone a stage VC funding round (Source: PitchBook)
What they do: OKX stands out as a versatile global cryptocurrency exchange. Specifically, it offers a comprehensive suite of services, including spot trading, margin trading, futures trading, options trading, perpetual swaps, and DeFi (Decentralized Finance) services.
Regarding daily trading volume, OKX ranks as a major player, consistently processing over $50 billion across all its products. Moreover, this extensive trading volume strongly represents its liquidity and users’ unwavering trust in the platform.
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OKX crypto exchange supports over 300 digital assets and over 80 fiat currencies. It is accessible in over 100 countries and territories across the world. It has one of the highest trading volumes in the crypto world and is a fantastic mobile app that offers all services on the go. The trading fees are very low. Its major drawback is its unavailability in certain countries.
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Supports numerous tokens.
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Great Mobile app.
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Extensive educational resources.
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Provision of multi-lingual services.
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Geographical limitation.
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KYC limitations.
6. Bybit
5-year search growth: 550%
Search growth status: Moon
Year founded: 2018
Location: British Virgin Islands, United Kingdom
Valuation: $1 Billion (Source: Watcher)
User Base: 15+ Million (Source: Bybit)
Funding round/raised amount: Bybit raised $6 million from 15 funding rounds, with the latest being a Secondary Market round on July 1, 2023. (Source: Crunchbase).
What they do: Bybit is an innovative cryptocurrency exchange that has revolutionized its fee structure. Notably, it has adopted a tier-based model. Each trader can fall into one of their seven distinct tiers depending on individual trading volume. Furthermore, each of these tiers is characterized by a specific fee. These fees range between 0.1% and 0.0%.
Furthermore, on Bybit it is possible to trade a wide range of instruments, including 100+ cryptocurrencies, 300+ spot trading pairs, derivatives, options, and NFTs. The customers’ appreciation toward Bybit can be noted by the fact that in 2022, Bybit’s user base grew by more than 50% in mere months!
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Bybit is a leading futures trading platform globally, offering up to 100x leverage and attracting users who prefer to remain anonymous. With a presence in 180+ countries, it is renowned for its efficiency and unique features in cryptocurrency derivatives trading.
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The platform offers up to 100x leverage trading.
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Strong educational resources.
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Diverse markets for traders, spot, perp, and futures.
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Risk-free demo accounts to explore all key features.
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TradingView integration.
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The platform is difficult for beginners to navigate.
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It does not offer a quality spot trading feature.
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The NFT marketplace is limited in terms of options.
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Security is of the gold industry standard.
7. Kraken
5-year search growth: 150%
Search growth status: Moon
Year founded: 2011
Location: United States
Valuation: $10.8 Billion (Source: Sacra)
User Base: 9 Million+ (Source: Research)
Funding round: Kraken has raised $30.3 Million over 17 rounds. The latest round, which occurred on the first of November 2022, was a Secondary Market round (Source: Crunchbase).
What they do: Kraken, established in 2011, is one of the pioneering U.S. cryptocurrency exchanges. It offers a comprehensive selection of cryptocurrencies coupled with highly competitive trading fees. Kraken provides advanced trading tools, including margin trading, advanced order types, and futures trading.
Kraken caters to traders of varying expertise levels with two distinct trading platforms: Kraken and Kraken Pro. While the basic Kraken platform may not offer the lowest fees, advanced users can benefit from volume-based discounts available on Kraken Pro.
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Kraken Exchange offers a robust platform for serious crypto traders. It stands out with its diverse coin selection, advanced trading features, and competitive fees. However, its complex interface may prove challenging for beginners. Strong security measures further reinforce its reliability.
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Margin trading and staking.
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Support/chat is one of the best.
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Low trading fees to withdraw Bitcoin (BTC).
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Provides tons of resources for learning.
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Only a few fiat currencies.
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Doesn't accept debit cards or Paypal.
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Has three apps.
8. Coinbase
5-year search growth: 50 %
Search growth status: Rekt
Year founded: 2012
Location: United States
Valuation: $8 Billion (Source: Forbes)
User Base: 108 Million (Source: Finder)
Funding round/raised amount: Coinbase has raised over $678.7 Million over 19 rounds of funding, with the latest post-IPO debt round in September 2023 (Source: Crunchbase).
What they do: Coinbase provides a user-friendly interface, making it a top choice for beginners in cryptocurrency. Similarly, its intuitive buy and sell orders resemble the functionality of online brokerage platforms used for stock trading. Coinbase offers access to a diverse selection of over 200 tradable cryptocurrencies, catering to a wide range of user preferences.
Undoubtedly, Coinbase’s commitment to user-friendliness is noteworthy. Furthermore, its diverse range of supported cryptocurrencies enhances its appeal and makes it a prominent choice for those seeking an accessible entry into digital assets.
9. CoinW
5-year search growth: 120%
Search growth status: When Moon?
Year founded: 2017
Location: Global
Valuation: Unknown
User Base: 7 Million (Source: coinmarketcap)
Funding round/raised amount: Unknown
What they do: Since its founding in 2017, CoinW has remained committed to streamlining the cryptocurrency investment experience for newcomers. This platform streamlines the purchase and sale of leading cryptocurrencies such as Bitcoin and Ethereum, providing an entry point for individuals venturing into the cryptocurrency market.
CoinW’s triumph lies in its user-friendly approach, which has empowered millions of users to engage with cryptocurrencies effortlessly. Moreover, its capacity to blend accessibility with a strong market presence underscores its effectiveness. Furthermore, this effectiveness is evident in connecting conventional finance with the digital asset landscape.
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CoinW is fast becoming a popular crypto exchange platform among traders. The exchange is available in over 3 continents and 120 countries. It also supports more than 100 cryptocurrencies and fiat currency. It has zero fees for spot trading and charges 0.02% as a maker and taker fee for futures trading.
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Zero spot trading fees.
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Futures trading & ETF.
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Huge global presence.
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High security.
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Low trading pairs.
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Poor customer service.
10. Gemini
5-year search growth: -23.14%
Search growth status: Rekt
Year founded: 2014
Location: Global
Valuation: 10.8 Billion (Source: Wiki)
User Base: 13 Million+ (Source: Fintech Compass)
Funding round: Gemini has raised $423.9 Million over three rounds. The latest round was a Series Unknown on February 15, 2022 (Source: Crunchbase).
What they do: Gemini is dedicated to providing a reliable and compliant platform for users to engage in spot trading, margin trading, and DeFi (Decentralized Finance) services. Moreover, the exchange prioritizes trust and regulatory compliance, essential for its long-term viability and success in digital asset trading.
In addition, with its intuitive interface and a diverse selection of supported cryptocurrencies, Gemini continues to shape the future of digital asset trading. By doing so, it delivers a seamless and secure trading experience to its broad user community.
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Gemini is a good platform for traders of all proficiency levels due to its effortless and easy-to-navigate user interface. Even if it does not have as extensive token selection as other exchanges, it is a good choice for investors of all levels. It offers basic and advanced features. With its user-friendly interface and fee structure, Gemini makes trading cryptocurrencies more accessible than ever.
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More than 100 cryptocurrencies.
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Available in all U.S. states.
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Highly robust mobile app.
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Hot wallet insurance and strong security.
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Higher transaction fees.
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Weak customer service.
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Cryptocurrencies like ADA and XRP not supported.
11. Bitstamp
5-year search growth: -51.13%
Search growth status: Rekt
Year founded: 2011
Location: Global
Funding rounds: Bitstamp has raised $12.4M over 3 rounds. Their latest funding was May 24, 2023 (Source: Crunchbase).
Valuation: N/A
User Base: Over 4 Million (Source: Bitstamp)
What they do: Currently, it serves 4 million users in 100+ countries. Not only does Bitstamp provide a trading experience via the web and mobile apps, but it also offers interfaces through APIs. Their platform supports 80+ digital assets. The exchange offers educational resources for new users via Bitstamp’s Learn Center.
Furthermore, it holds 50 global licenses, including a coveted Payment Institution License in the EU and a BitLicense in New York. Above all, a commitment to customer ownership defines Bitstamp’s ethos, ensuring customers’ crypto assets are perpetually theirs.
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Bitstamp, with its user-friendly interface and reasonable fees, offers a good start for beginners despite a limited choice of 80+ cryptocurrencies. Though seasoned users might seek more coin diversity, Bitstamp does provide advanced order types. Moreover, it supports debit and credit card transactions in fiat currencies like USD, GBP, and EUR.
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Easy-to-use platform for beginners and pros.
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Competitive fees compared to other crypto exchanges.
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Long history of supporting cryptocurrency users.
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Earn rewards with crypto staking
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Limited list of supported currencies.
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KYC for fiat currency, deposits, and withdrawals.
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No margin trading or lending features.
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2015 hack resulted in the loss of $5.2 million
Conclusion
Your choice of exchanges can significantly impact your investing experience. It’s vital to research and choose wisely. The 11 highlighted exchanges stand out for their intuitive interface, robust security, low fees, and diverse coin offerings.
As the crypto market matures, both institutional investors and everyday consumers are entering the space. Exchanges catering to beginners and advanced traders are set up for success.
A promising future lies in cryptocurrency. With the right exchange, your journey in this asset class can be rewarding. Seize the opportunity for vast possibilities.
In 2023, popular cryptocurrencies for trading include Ethereum (ETH) and Bitcoin (BTC) due to their high liquidity. Others to watch for potential growth are Solana (SOL), Cardano (ADA), and Polygon (MATIC).
While cryptocurrency's future remains uncertain, experts anticipate a potential market recovery in 2023. Factors include increased institutional adoption, expanding crypto use cases, and the rise of decentralized finance (DeFi).
Binance claims the title of the world's fastest-growing crypto exchange by trading volume. Offering diverse cryptocurrencies and operating in over 180 countries, it's a dominant player in the market.
Despite the fact that this answer might be subjective depending on every trader’s personal preferences, most crypto enthusiasts would say either Binance and Coinbase.
The world’s longest running crypto exchange is Bitstamp, an European exchange founded in 2011, merely 2 years after Bitcoin, the first ever cryptocurrency, was created.
Shawn Munir
Shawn Munir is the CEO of Coinweb.com and spearheads all the collaborative partnerships for the platform. He bought his first Bitcoin in 2017 and never looked back. He is also an investor in 200+ Web3 startups and is considered an expert in the field. Before building Coinweb with his co-founders, he co-founded Presail, a management platform designed for companies and investors to manage their investments in Web 3. In addition to his entrepreneurial endeavors, Shawn serves on the United Nations...
