10 Best Ethereum Exchanges for 2024

With over 250 million wallet holders globally, Ethereum is one of the most popular cryptocurrencies to own. Most exchanges support ETH tokens, so you’ll be able to invest in under 5 minutes from start to finish.

Read on to discover the 10 best Ethereum exchanges for 2024. Our reviews cover regulation and safety, commissions, minimum purchase requirements, accepted payment methods, and user-friendliness.

Reviewing the Top Ethereum Trading Platforms

Detailed reviews of the best Ethereum trading platforms can be found in the sections below.

1. Best Wallet – Decentralized Ethereum Exchange With Market-Leading Rates and a KYC-Free Experience

Best Wallet is a decentralized exchange that offers many benefits, including a KYC-free experience. This means you can buy Ethereum without needing to reveal your identity or upload ID verification documents, just like other highly-rated exchanges that don’t need KYC.

In fact, you don’t even need to register; simply connect a wallet and you’re good to go. There is no requirement to trust Best Wallet, as Ethereum trades are conducted via smart contracts. In simple terms, once you’ve completed the trade, Ethereum tokens will be transferred directly to your connected wallet.

Another benefit is that Best Wallet offers market-leading exchange rates. It connects with decentralized liquidity pools and completes your trade at the best price possible. There are no commissions to pay either, so Best Wallet wins hands down as the most competitively-priced Ethereum exchange.

However, the main drawback is that you’ll need to buy Ethereum with another cryptocurrency if you want to remain anonymous. While you can also use a debit/credit card, you’ll need to complete a quick KYC process. In addition to Ethereum, Best Wallet supports some of the best altcoins. This includes all ERC-20 and BEP-20 tokens.

Best Wallet also offers a decentralized wallet, available as an iOS and Android app. This is the safest way to store Ethereum, as Best Wallet offers self-custody storage. This means that nobody else – including Best Wallet, has access to your private keys or backup passphrase. Finally, Best Wallet will support NFTs, staking, and other core features in the coming months.

2. Kraken – Trade Ethereum on Margin and Access Leveraged Derivatives  

Kraken is one of the best Ethereum exchanges for trading on margin. It offers leverage of up to 5x on Ethereum, meaning $1,000 worth of capital for every $200 risked. Kraken also offers margin accounts on other popular cryptocurrencies, including Bitcoin, Cardano, and Solana. You’ll also find leveraged derivatives. These are similar to futures, although there’s no contract expiry date.

Kraken offers competitive fees, with trading commissions starting at 0.26% per slide. There are no additional fees when depositing funds via ACH, SEPA, and other local banking methods. Debit/credit card fees are not shown until you complete your purchase. Moreover, the fees are built into the exchange rate, which makes it difficult to know what you’re paying.

Nonetheless, Kraken is a trusted exchange that was founded in 2011. It offers lots of advanced trading tools, including comprehensive pricing charts and technical indicators. It also offers 24/7 customer support and staking pools. The latter is offering up to 6% on Ethereum deposits, with staking rewards paid bi-weekly.

3. eToro – Ethereum Exchange With Transparent Fees, Copy Trading And Smart Portfolios

eToro is a leading Ethereum exchange that offers a secure and transparent trading platform. The platform has a growing number of beginner and experienced traders amongst its user base of over 30 million users from more than 100 countries.

The platform has an easy-to-use dashboard allowing users access to over 70 cryptos, including Ethereum. eToro also has a very clear fee structure, where they only charge 1% for buying and selling cryptos.

eToro’s flagship feature is CopyTrading, which allows users to copy successful investor strategies and democratizes access to trading strategies. In addition to this, the platform has a smart portfolio that allows investors to diversify their portfolios according to their strategies, which are regularly rebalanced to support passive strategies.

It’s worth noting that eToro has just a $10/£10/€10 minimum deposit and various deposit methods are free in US dollars. However, there is a 0.5% charge for other currencies.

Moreover, eToro also offers a $100,000 free demo account where users can practice in a demo account to learn the basics of trading or test strategies without risk. It also provides many education and risk management features to help traders make well-informed decisions.

This makes eToro one of the best Ethereum exchanges, especially given its huge user base and the fact that it is now providing direct trading support for Ethereum at the lowest possible fees with a completely transparent fee structure in the industry.

4. Margex – Apply up to 100x Leverage when Trading Ethereum 

Margex is a popular cryptocurrency derivatives trading platform that lets you apply leverage on trades, stake cryptos and access several trading tools. 

When trading Ethereum on margin, Margex charges a trading fee starting from 0.06% per transaction. The platform will soon launch spot trading services as well. To heighten the value of your trade, Margex lets you apply up to 100x leverage on your trades.

Through the stakings tool – investors can lock-in their ETH holdings and earn up to 4.7% in annual yields. Notably, investors can keep trading Ethereum, even when it is locked into the staking mechanism. 

Beginner investors can benefit from Margex’s copytrading tools – which let you copy the exact trades of more skilled investors. One can also access price alerts and introductory video tutorials to understand the basics of cryptocurrencies. 

This safe platform follows the highest cryptocurrency and bank-grade security standards. An MP Shield system has been implemented to avoid price manipulation. Notably, the asset price is determined on Margex after accessing the combined liquidity of 12 other top cryptocurrency exchanges. 

Based on our detailed Margex review we found that deposits can be made using a number of fiat payment methods – such as VISA, Mastercard, PayPal, and ApplePay. There are no additional deposit fees, but third-party payments may apply. 

5. OKX – Buy Ethereum at a 0.1% Commission and Earn APYs of 5%

OKX is also one of the best Ethereum exchanges for earning competitive APYs. This popular exchange is currently offering 5% annually on flexible Ethereum accounts. This means you can withdraw your ETH tokens at any time. What’s more, OKX also offers low trading commissions, starting from just 0.1%.

In addition to Ethereum, OKX supports hundreds of other cryptocurrencies. This includes some of the best meme coins to buy, such as Wall Street Memes, Dogecoin, and Shiba Inu. OKX is also popular for its self-custody wallet. Supported by desktop and mobile devices, the OKX wallet is completely decentralized.

It comes with rock-solid security tools, including Multi-Party Computation (MPC) storage. OKX also offers a decentralized exchange, allowing users to buy and sell Ethereum anonymously. This doubles up as an aggregator, meaning it secures the best exchange rates in the market. Finally, OKX also offers leveraged Ethereum assets, including futures and options.

6. MEXC – Get Up to 4.8% Annual Yields by Staking Ethereum 

One of the most popular cryptocurrency exchanges in the world – MEXC is used by more than 10 million people across 170 countries. This popular trading platform supports over 1,700 cryptos – including Ethereum and Bitcoin. 

One of the main features of MEXC is its amazing staking platform – allowing token holders to generate passive income. On MEXC, you can stake Ethereum on the flexible savings mode – and earn up to 4.8% in APYs. 

Traders also benefit from MEXC’s low trading fees – 0% for spot trading ETH and other cryptos. Futures trading starts from just 0.02% per transaction. You can also trade Ethereum on margin – and apply up to 10x leverage on your trades. 

To help you create accurate trading strategies, MEXC offers advanced charting indicators. Furthermore, the platform uses high-performance mega-transaction matching technology to support fast and efficient trading. 

This secure platform stores more than half a billion worth of assets in cold storage. It also uses two-factor authentication and has an anti-DDoS (Distributed Denial-of-Service) system set in place to avoid cybercrimes. 

The platform assists registered members through its 24/7 customer support team. MEXC can be accessed through a deskop/laptop or its proprietary mobile application. 

7. Binance – Low Trading Fees and Competitive APYs on Ethereum Earning Tools  

With over 166 million users globally, Binance is the most popular Ethereum exchange. Binance is also the largest exchange for trading volume. It supports hundreds of cryptocurrencies and trading fees start from just 0.1%. There are many different ways to deposit funds, including debit/credit cards, e-wallets, and bank transfers.

Binance also has a peer-to-peer marketplace, allowing users to buy Ethereum with local payment methods. Transaction fees vary depending on the deposit type and the country of residence. Binance is also a great option for earning competitive yields on your Ethereum holdings.

For instance, you can earn up to 3.45% when staking Ethereum. There are also flexible savings accounts, currently paying 1.07%. Other earning tools include dual investments and liquid swaps, with flexible and fixed terms to choose from. Binance has a custodial crypto wallet, available online and an iOS/Android app.

8. PrimeXBT – Access Customizable Charting Software and Pay Low Fees on this Ethereum Exchange

Founded in 2018, PrimeXBT is a global cryptocurrency trading platform. Along with Ethereum, investors can trade over 40 cryptocurrencies, such as Bitcoin, XRP, and Shiba Inu on PrimeXBT. 

When trading Ethereum on PrimeXBT, the platform charges a maker/taker fee of just 0.01%/0.02%. Along with spot trading, PrimeXBT also supports margins and future trading activities. When trading Ethereum, you can easily adjust the margin type and fit it according to your trading style. 

Notably, PrimeXBT comes equipped with an advanced charting and trading software – allowing investors to apply over 50 technical indicators. Thus, you can get concise information before trading Ethereum or other assets. 

To secure investor’s assets, PrimeXBT stores all funds in cold storage. It uses multi-signature access to protect the assets against any potential security attacks. Boasting a powerful trading engine, PrimeXBT has an average execution speed of just 7.12m – allowing users to efficiently trade Ethereum. 

Beginner traders can also access copytrading tools and demo accounts with PrimeXBT. Since the platform launched, PrimeXBT has garnered a user base of over 1 million people. By depositing $500 within the first 48 hours of signing up, PrimeXBT will deposit an additional $100 in your trading accounts. 

9. Bybit – User-friendly Interface

Founded in 2018, Bybit prides itself as one of the globally recognized Ethereum cryptocurrency exchanges in the market. The exchange is currently headquartered in Dubai though offers crypto trading services to over 15 million users across 160 countries of the world. 

Bybit stands out with its all-round crypto trading platform that allows users to dive into the world of spot trading, margin trading, futures trading, and many more. Complementing its huge assortment of advanced trading options is its intuitive and easy-to-use interface that makes it easy for traders, including newbies, to fully maximize all its features.

The renowned crypto exchange has a real-time trading chart where users can find important information about their most-preferred trading pairs. Users will also be able to choose from a host of industry-standard trading tools that suit their trading strategy and objective. They include leverage bar, margin type, and order types amongst others

Another major aspect of Bybit is its P2P gateway which allows users to buy and sell ETH and other cryptocurrencies directly between themselves. It is also possible to buy ETH directly on Bybit with numerous payment methods like debit or credit card, bank transfers, Google Pay, Paysera, SEPA, Maestro, Revolut, and  Advcash among many others. 

Being a crypto exchange with a global posture, Bybit supports more than 16 international languages. With this, the platform has eliminated the language barrier that users might encounter while exploring its offerings. 

More so, when it comes to security, Bybit ticks all the right boxes. The trading platform adopts strict login security protocols and measures like two-factor authentication, encrypted data transmission, hardware authentication, and many others to safeguard the financial and personal information of users.

10. Coinbase – Instant and Fee-Free Bank Transfer Deposits and a Solid Regulatory Framework

Coinbase is one of the most popular Ethereum exchanges globally. It has a solid regulatory framework and has been operating since 2012. Coinbase is also a public company, which means increased transparency and accountability. Opening an account with Coinbase takes less than five minutes. You can deposit funds via a local bank transfer without paying any fees.

In most cases, the bank deposit will be processed instantly. Coinbase charges a standard trading commission of 1.49%. However, if you want to buy Ethereum with a debit/credit card or PayPal, this increases to 3.99%.

Coinbase offers many other cryptocurrencies, including Bitcoin, Cardano, Solana, Polkadot, and Cosmos. It also offers Ethereum staking tools, currently yielding an APY of 3.15%. That said, Coinbase charges a 25% fee when you withdraw your Ethereum from its staking pool. Another feature of Coinbase is its user-friendly dashboard.

Even if this is your first time trading Ethereum, you’ll find the investment process simple. Coinbase offers two different options for storing ETH tokens. First, it offers a custodial web and mobile wallet with cold storage and two-factor authentication. Second, it also offers a self-custody wallet app, giving you full control of your Ethereum.

Offer: Sign up and get up to $200 in crypto¹

Terms: ¹Valid for new users who make a cryptocurrency purchase on Coinbase. Limited while supplies last or Coinbase revokes this incentive at its sole discretion. Coinbase reserves the right to change the terms, eligibility criteria, and payouts for all incentives at any time, for any reason. Void where prohibited or if Coinbase determines that the customer is not eligible for the offer. Terms apply.

How to Pick the Best Ethereum Exchange for You (Our Methodology)

Now that we’ve reviewed the best Ethereum exchanges for 2024, let’s move on to our methodology. This will help you choose an Ethereum exchange that aligns with your personal requirements.

Security and Regulation

The November 2022 collapse of the FTX exchange is still fresh in the minds of cryptocurrency investors. FTX was based in the Bahamas, which is known for its weak oversight of cryptocurrency platforms. The result? FTX customers lost billions of dollars collectively.

Coinbase is considered a safe place to buy Ethereum. It’s licensed in most US states and is now a public stock on the NASDAQ exchange. This means that Coinbase offers increased accountability, as it must publish its accounts every three months.

Binance was previously under regulatory scrutiny from the SEC but recently agreed to a $4.3 billion settlement with the US regulator, that also saw co-founder Changpeng ‘CZ’ Zhao step down as CEO.

In addition to regulation, it’s important to assess security tools. The best Ethereum exchanges offer two-factor authentication and cold storage. The latter means your Ethereum tokens are stored offline at all times – away from live servers and hacking attempts.

We also prefer Ethereum exchanges that offer proof of reserves. This helps you understand how many cryptocurrencies the exchange is holding, in relation to customer deposits.

Centralized or Decentralized

You should also consider whether you want to buy Ethereum from a centralized or decentralized exchange.

Centralized exchanges are the most popular, as they offer convenience and support for fiat money. This means that you can buy Ethereum with a debit/credit card, e-wallet, or bank account deposit. Some centralized exchanges are regulated too, as we mentioned above.

However, there will always need to be a level of trust when using centralized exchanges. This is why some investors prefer trading Ethereum on decentralized platforms.

Fees

Fees are also important when selecting the best Ethereum trading platform.

The first fee to check is related to payments.

• Coinbase charges 3.99% on these payment types.
• If you’re looking to deposit funds with a local bank transfer (e.g. SEPA or ACH), you shouldn’t need to pay fees. In some cases – such as Coinbase, the payment will be processed instantly.

You should also check what trading commissions are charged to buy and sell Ethereum.

In this regard, Binance and OKX are very competitive. These Ethereum exchanges charge just 0.1% per slide. If you’re comfortable using a decentralized exchange, Best Wallet is also competitively priced. It uses aggregator technology to secure the best exchange rates available.

Wallet

Wallet storage should also be considered when choosing an Ethereum exchange. If you feel more comfortable controlling your private keys, Best Wallet is a good option. This is because Best Wallet is a self-custody wallet, meaning it doesn’t have access to your Ethereum tokens.

On the contrary, you’re the only person that can authorize transactions. OKX also offers a popular self-custody wallet. This comes as desktop software and a mobile app for iOS and Android.

That said, some investors prefer custodial wallets, as they offer more convenience, with a exchange looking being responsible for the safety and security of a customer’s holdings. That means there is likely to be some recourse if funds are mishandled, with 24/7 customer service teams also in place to help.

Tools and Features

The best Ethereum trading platforms offer various tools that can enhance the investment journey.

For instance, if you’re looking to earn interest on your Ethereum holdings, choose an exchange that offers staking tools. OKX is currently offering APYs of 5% on flexible Ethereum deposits. Not only is this a competitive rate but you can withdraw your Ethereum at any time. In contrast, Coinbase is currently paying just 3.15%.

Another investment tool to look for is copy trading, although this comes with risk.Read through our list of the best copy trading platforms, with users able to instantly copy the trades and positions of more experienced/profitable traders.

If you’re already an experienced trader, then you’ll want to choose an Ethereum exchange with advanced analysis tools. Kraken is a good option, as it offers technical indicators, customizable charts, and real-time order books. It also offers Ethereum margin accounts. These allow you to amplify your Ethereum investments by 5x. Kraken also offers leveraged Ethereum futures.

Range of Other Coins

Although Ethereum is one of the most popular cryptocurrencies to buy, there are thousands of others to choose from. Many investors will create a diversified portfolio, meaning they buy many different types of coins.

With this in mind, it’s best to choose an Ethereum exchange that offers a diverse range of cryptocurrencies. This will prevent you from needing to open accounts with multiple exchanges.

Most platforms support hundreds of popular cryptocurrencies, ranging from Bitcoin, XRP, and BNB to Solana, Shiba Inu, and Dogecoin to minor altcoins.

Just remember to check what trading commissions apply when selecting an Ethereum exchange. Diversification can be expensive if the exchange charges high fees. Moreover, the minimum trade requirement should be low. This ensures that those on a budget can create a diversified portfolio without breaking the bank.

Payment Methods

Most investors will buy Ethereum in their local currency, whether that’s US dollars, euros, or pounds. That said, you’ll need to check what payment methods are supported before proceeding. The easiest and fastest way to deposit funds is with a debit/credit card. This enables you to buy Ethereum instantly.

E-wallets – such as PayPal and Neteller, are also an option. You might also consider depositing funds via a local bank transfer. Networks like ACH and SEPA are often processed fee-free. All of these payment methods can be used at Binance, Coinbase, and other leading Ethereum exchanges.

If you want to deposit funds with a local payment type that isn’t accepted globally, the Binance peer-to-peer exchange is worth exploring. This enables you to connect with sellers in your home country, meaning reduced friction. However, keep an eye on exchange rates, as peer-to-peer trades are often more expensive.

Customer Service

The customer service you receive will vary widely depending on the Ethereum exchange. We prefer exchanges that offer live chat support around the clock.

This means you can speak with a human agent at any time. Binance and Coinbase offer top-notch support 24/7. Waiting times are usually fast, but expect delays during busy market hours.

In contrast, many Ethereum exchanges offer email support. Response times can be hours or days, which can be frustrating if your inquiry is urgent.

User Experience and Mobile App

The best Ethereum exchanges offer a solid user experience. That said, you’ll need to choose an exchange that aligns with your prior trading experience.

For instance, if you’re buying Ethereum for the first time, then Coinbase and Binance are good options. They offer a seamless way to invest; simply open an account, upload some ID, type in your payment details, and complete the Ethereum purchase. Moreover, both offer user-friendly wallets with institutional-grade security controls.

If you have some prior trading experience, then you might prefer an Ethereum exchange with more advanced capabilities. For example, Kraken Pro is aimed at seasoned traders seeking customizable charts and technical indicators.

You should also consider the user experience when trading Ethereum on a smartphone. This is increasingly becoming popular with investors, as cryptocurrency prices can change rapidly.

Therefore, you’ll want to choose an Ethereum exchange that offers a native mobile app that aligns with your skillset. The mobile app should also come with full functionality. This means having access to the same features as the main web-based platform.

Conclusion

In summary, we’ve compared the best Ethereum exchanges for safety, low fees, accepted payment types, and the overall user experience. We rate Best Wallet as the top option. Many investors favor Best Wallet due to its user-friendly interface, a wide variety of investment options, and cutting-edge features that give users sophisticated charting capabilities.

References

• https://www.justice.gov/opa/pr/binance-and-ceo-plead-guilty-federal-charges-4b-resolution
• https://www.swift.com/your-needs/financial-crime-cyber-security/know-your-customer-kyc/kyc-process
• https://www.reuters.com/technology/crypto-market-still-bears-scars-ftxs-collapse-2023-10-03/
• https://time.com/6266711/ftx-bahamas-crypto/
• https://www.ibm.com/topics/smart-contracts
• https://brokercheck.finra.org/firm/summary/298361
• https://www.cnbc.com/2022/09/15/ethereums-massive-software-upgrade-just-went-live-heres-what-it-does.html
• https://www.reuters.com/markets/us/us-authorities-set-unveil-settlement-with-binance-source-2023-11-21

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