Top 5 Centralized Crypto Exchanges for Beginners in 2024

'In the world of cryptocurrency, the only constant is change.' While the crypto market grows apart by 2 Trillion Dollars, Centralized exchanges (CEXs) are very important for beginners who want to start trading. In this blog, we will learn about the top 5 centralized crypto exchanges for beginners in 2024 out there in the market.

Centralized Crypto Exchanges

While Blockchain's main outcome is decentralization, centralized crypto exchanges are designed to be easy to use, making them a great choice for beginners. These platforms handle trades for users, which simplifies the process and provides important security features. According to a report by Grandview Research, the global cryptocurrency exchange market was valued at USD 30.18 billion in 2021.

It is expected to grow at a compound annual growth rate (CAGR) of 27.8% from 2022 to 2030. Centralized exchanges play a big part in this billion-dollar market. Entrepreneurs should choose a top-rated CEX Development Company to make their platform more secure.

Binance

Binance is the best-centralized crypto exchange for beginners in 2024. It offers an easy-to-use interface, a broad range of cryptocurrencies, and low trading fees. It provides excellent educational resources and advanced security features to confirm user safety. Additionally, its large liquidity pool allows for fast and seamless transactions.

In 2023, it made $16.8 billion in revenue, much more than its competitors. This revenue comes from various sources, such as trading fees and interest on loans. In 2022, Binance earned $12 billion, which was a 40% drop from 2021, but it remains a strong player. A well-known Centralized Crypto Exchange Development Company can build an exchange like Binance to grab the market.

Coinbase

Coinbase is one of the top centralized crypto exchanges for newbies in 2024 because it's easy to use and simple to understand. It provides helpful learning resources to teach users about cryptocurrency. The platform is safe and follows strict rules, giving users peace of mind. It makes buying crypto for the first time quick and easy.

Coinbase is another leading exchange, especially popular in the United States. In 2023, it generated $3.11 billion in revenue, slightly down from $3.19 billion in 2022. The consumer segment made up $1.43 billion of this revenue, making it the top source. The U.S. contributed $2.73 billion last year, showing its importance in the market.

Kraken

Kraken provides strong security to keep your trades safe as it is one of the best CEX in the industry. It supports many different cryptocurrencies, so new users can try out a variety of options. Kraken follows regulations closely, which makes it a trusted platform, and its helpful customer support makes it simple for beginners to get started.

Kraken is valued at $10.8 billion. In 2022, it reached a revenue of $47.11 million and has raised a total of $134.1 million in funding over 17 rounds. Founded in 2011, Kraken is recognized for its security features and the broad range of cryptocurrencies it supports. A CEX Development Company makes an exchange with a user-friendly interface and commitment to following regulations just like Kraken.

KuCoin

KuCoin supports many different cryptocurrencies and has low trading fees. It also offers tools like trading bots and educational resources to help new users start trading. With over 18 million users worldwide, there’s a strong community for support.

KuCoin has gained attention for its growth and various features. After raising $150 million in funding, it reached a valuation of $10 billion. With over 18 million users in 200 countries, KuCoin is one of the largest exchanges by trading volume.

OKX

OKX is known as the top best-centralized crypto exchange for beginners in 2024 because it offers different trading options, like spot and derivatives trading. With over 50 million users worldwide, it provides strong security and helpful tools for new traders. Want to build an exchange like OKX with plenty of liquidity? Contact a Centralized Exchange Development Company.

It serves over 50 million users worldwide. Founded in 2017 by Star Xu, it quickly became the second-largest crypto exchange by trading volume. As of August 2024, it ranks among the top three spot cryptocurrency exchanges according to CoinMarketCap. OKX offers a broad range of trading options, making it a versatile platform for newcomers.

Conclusion

‘In investing, what is comfortable is rarely profitable.’ There can indeed be substantial benefits in the cryptocurrency market if one is prepared to study and adjust. For beginners, choosing the right exchange is very important in the crypto industry. Exchanges like Binance, Coinbase, Kraken, KuCoin, and OKX are making it easier for new traders to get started. Working with a CEX development company can also provide the necessary tools for startups and enterprises.