The 5 Best Crypto Exchanges for Day Trading in 2024

The prospect of quick, simple gains in crypto day trading is enticing traders worldwide. The dynamic nature of the crypto market, coupled with the strategy of buying and selling crypto within a short period of time offers unique advantages to traders.

The challenge, however, lies in choosing the best crypto exchange for day trading. After extensive research, we found that Coinbase is the best crypto exchange for day trading thanks to its intuitive interface and high liquidity.

Read on to hear more about why we picked Coinbase, in addition to our other picks.

An in-depth look at the best crypto day trading platforms

Now that you know the best crypto exchanges for day trading, let’s take a closer look at each.

1. Coinbase – Secure exchange with advanced charting

With its intuitive interface that caters to beginners and seasoned traders, Coinbase has established itself as one of the best crypto day trading platforms. Its user-friendly interface allows traders to easily access a range of features, making it suitable for both spot and advanced trading.

This US-based exchange is regulated and compliant with various jurisdictions, making it a safe and legal crypto day trading platform. Moreover, the platform offers different products to meet the demand of users, such as Coinbase Advanced, Coinbase Wallet, and Coinbase Prime.

Coinbase Advanced, for instance, is an advanced day trading platform with lower fees, support for more pairs, and offering more analytical tools. It also features limit orders and stop-limit orders to help traders reduce their risk.

Security is also a top priority for Coinbase. It has implemented several measures to safeguard user data and funds, including two-factor authentication (2FA), cold storage, insurance coverage and secure asset fund for users (SAFU).

The platform offers a transparent fee structure, with costs varying depending on the type and volume of trading. For spot trading, takers’ fees range from 0.05% to 0.60%, while for makers, they are between 0.00% and 0.04%, depending on the trading volume. The fee is usually lower for stable pairs.

In addition to these factors, what makes Coinbase the top choice is its charting interface, which shows live order books, trade history, and market depth for hundreds of tokens.

Cryptocurrencies	240+
Payment methods	Bank transfer, Debit card, Apple Pay, Google Pay, PayPal
Trading fees	Maker: 0.0% to 0.04%Taker: 0.05% to 0.60%
Customer service	Web chat, email, phone
Regulation	Fully licensed in the US
KYC required?	Yes

2. Kraken – Reputable, affordable and quick

Founded in 2011, Kraken is one of America’s oldest cryptocurrency exchanges, offering high liquidity to traders along with low fees. Its competitive prices and trading tools make it ideal for beginners and experienced traders.

Kraken is the top choice for traders who want to set up custom bots for automated trading. The exchange has partnered with many trading bots providers, such as Cryptohopper, Haasbot, and Hummingbot. It also boasts strong customer support.

Kraken’s biggest selling point is its affordability. The platform fees start at 0% when opening new positions, making it ideal for traders who plan on opening multiple positions.

The exchange is affordable and fast. Kraken’s technology ensures quick completion of even large trades, which greatly reduces the risk of volatility in market prices. If trades are delayed, volatility could result.

Even though Kraken is a user-friendly platform, it offers advanced charting tools and indicators with Kraken Pro. Moreover, it offers a margin trading feature with up to 5x leverage, another good feature for day traders.

Like Coinbase, Kraken has implemented numerous security measures, including cold storage and two-factor authentication (2FA). It also runs a comprehensive bug bounty program to boost its security protocols. Moreover, it is registered as a Money Services Business (MSB) with FinCEN, making it secure and trustworthy for traders.

Cryptocurrencies	200+
Payment methods	Debit card, credit card, Apple Pay or Google Pay, BankTransfers, and more
Trading fees	Maker: 0.0% to 0.16%Taker: 0.10% to 0.26%
Customer service	Web chat, email, phone
Regulation	Fully licensed in the US
KYC required?	Yes

3. eToro – A truly social investing platform

Founded in 2007, eToro is a multi-asset brokerage platform that allows users to trade several assets, including crypto. The platform boasts more than 25 million users in 140 countries worldwide, including the US.

eToro allows crypto trading in two ways – CFDs trading on cryptocurrency and direct purchase and sale of crypto coins. It also lets users purchase and store crypto assets in its blockchain wallet.

The platform also offers some social features, such as news feeds for specific coins, and has an active user community to ensure traders are up to date with the coins.

The platform is not only social but also secure. eToro’s security protocols include offline and online storage of coins, two-factor authentication, and state-of-the-art monitoring tools. Cash assets on the platform are held in Federal Deposit Insurance Corp bank accounts.

Another unique feature of eToro is its demo account. Every user who signs up for it receives $100,000 in virtual currency to trade. This account never expires, meaning users can continue to test their strategy before risking their real money.

Unlike many other platforms that are vague about their fees, eToro clearly lists the trading fees it charges. The platform charges a flat fee of 1% for each crypto trade.

Please note that US users on eToro can only trade Bitcoin, Ethereum, and Bitcoin Cash.

Your capital is at risk

Cryptocurrencies	20+
Payment methods	Debit card, credit card, BankTransfers, PayPal, and more
Trading fees	1% for buying or selling crypto
Customer service	Web chat, email, phone, support ticket
Regulation	Crypto arm is not regulated in the US
KYC required?	Yes

4. ByBit – A complete package for day traders

ByBit is known for being among the best crypto platforms for day trading. The platform offers high leverage, including up to 100x for perpetual contracts and futures and up to 10x for margin trading.

Additionally, ByBit offers advanced trading features and support for multiple trading products, such as perpetual contracts, inverse perpetual, futures with quarterly expiry times, options, and more. It also features customizable crypto trading bots, and allows users to imitate the top-performing bots.

Above all, the platform features many order types (stop limit orders, market orders, trailing stop orders and limit orders), unlike many other popular exchanges that only offer basic order types. Additionally, it offers a high level of customization to advanced traders, such as setting up conditional orders.

ByBit also offers a suite of technical analysis tools to help traders make more informed decisions. Despite these features, ByBit has a user-friendly interface, making it a good choice for beginners and experienced traders.

ByBit also offers a fast trading system, which executes up to 100,000 transactions every second.

ByBit fees are comparatively lower across all markets in which it operates. Its fiat deposit fees depend on the payment method, while crypto deposits are generally free. Moreover, it has a dual-price mechanism, which helps users avoid market manipulation and liquidation.

Cryptocurrencies	600+
Payment methods	Card payments, instant bank transfers, in-person cash payments, and more
Trading fees	Maker: 0.005% to 0.1%Taker: 0.02% to 0.1%
Customer service	Web chat, email, phone
Regulation	Not available to US customers
KYC required?	Yes

5. OKX – Simple to use platform with advanced trading features

OKX is another global exchange that offers a range of features to meet the needs of day traders. The platform has an intuitive user interface and a transparent fee structure and has implemented strong security measures.

OKX offers novice and experienced traders several trading options, including spot trading, margin trading, futures contracts, and perpetual swaps. Its features list also includes convert trading, one-click solutions, and on-chain staking.

The exchange’s advanced trading system also provides traders with different order types, technical indicators, and automated strategies with trading bots to help them make quick decisions. Moreover, its TradingView integration gives traders advanced charting tools for in-depth market analysis.

Like other top exchanges, OKX also allows users to copy successful trading strategies. and provides a demo account to practice crypto trading strategies.

OKX has also implemented many security measures to secure the connection between the platform and connected exchanges. It offers a portfolio tracking feature to boost the security of crypto assets and runs a bug bounty program.

It also uses a flexible fee structure, which aligns with the fees charged by the other best crypto exchanges for day trading. The platform also encourages users to hold OKB tokens in order to earn of discounted trading rates.

Cryptocurrencies	300+
Payment methods	Debit card, Credit card, Apple Pay, Google Pay, P2P payment and more
Trading fees	Maker: 0.005% to 0.08%Taker:0.02% to 0.1%
Customer service	Web chat, Ticket System, Phone, email
Regulation	Not available to US customers
KYC required?	Yes

The best crypto day trading platforms compared

Exchange	Cryptos	Payment methods	Trading fees	Customer service	KYC
Coinbase	240+	Bank transfer, Debit card, Apple Pay, Google Pay, PayPal	Maker: 0.0% to 0.04%Taker: 0.05% to 0.60%	Web chat, email, phone	Yes
Kraken	200+	Debit card, credit card, Apple Pay or Google Pay, BankTransfers, and more	Maker: 0.0% to 0.16%Taker: 0.10% to 0.26%	Web chat, email, phone	Yes
eToro	20+	Debit card, credit card, BankTransfers, PayPal, and more	1% for buying or selling crypto	Web chat, email, phone, support ticket	Yes
ByBit	600+	Card payments, instant bank transfers, in-person cash payments, and more	Maker: 0.005% to 0.1%Taker: 0.02% to 0.1%	Web chat, email, phone	Yes
OKX	300+	Debit card, Credit card, Apple Pay, Google Pay, P2P payment and more	Maker: 0.005% to 0.08%Taker:0.02% to 0.1%	Web chat, Ticket System, Phone, email	Yes

Different types of crypto day trading platforms

There are different types of platforms that traders can use to day trade crypto:

• Crypto exchanges: Similar to traditional stock and commodities exchanges, cryptocurrency exchanges allow crypto investors to trade in different cryptocurrencies. These exchanges also provide users with many trading and investing tools, as well as allow different types of trades, such as margin or lending trading, and future and options trading.
• Stock brokers: With the rising popularity of cryptocurrencies, many traditional stock brokers now support crypto trading as well. However, these stock brokers usually don’t offer many crypto options to investors, supporting only Bitcoin, Ethereum, and maybe a few popular altcoins.
• Trading apps: popular trading apps, including Robinhood and eToro, now allow users to trade cryptocurrencies. These apps simplify investing and have an easy-to-use interface, making them popular among crypto investors as well.

How to choose the right crypto day trading exchange

Selecting the right crypto day trading exchange is crucial for successful day trading. Thus, you must choose a platform that meets all your needs. Your decision must take into account the following factors:

1. Security: A good platform must keep your data and funds safe. Thus, it is important that the platform has standard security features, such as two-factor authentication, funds insurance, and more. Also, the platform must meet all the regulatory guidelines.
2. Interface: Make sure your chosen platform has an intuitive and user-friendly interface. The trading functions must be easy to locate and execute, and the platform must execute the trades fast and smoothly.
3. Supported cryptocurrencies: The platform you select must support many coins if you plan to trade various coins. Also, make sure the platform has a history of adding new coins regularly. This will indicate the platform’s ability to adapt to evolving market trends.
4. Fees: The selected platform must have a clear and transparent fee structure. Make sure it doesn’t have any hidden charges. Also, ensure the platform’s fee structure aligns with your trading strategy. It is recommended that you choose a platform that offers a discount on high trading volume and reduces fees when using native tokens.
5. Customer support: The platform’s customer service facilities must be responsive and knowledgeable to ensure timely resolution of issues. The platform must also offer users several options to contact customer support, including live chat, email, phone, and ticketing.
6. Advanced trading features: If you are a more experienced and ambitious crypto investor, make sure to seek further details on whether the platform offers advanced trading features (margin trading, futures, and more) and charts. It’s also important to find out whether you need to pay extra to access certain features.

The importance of using an SEC-registered exchange

The SEC (Securities Exchange Commission) oversees the issuance and sale of securities. The regulator is responsible for setting rules and ensuring all players abide by it, including crypto exchanges, wallet providers, ICO issuers, investment funds and even crypto miners.

So, if an exchange is registered with the SEC, it adds to their credibility and gives users peace of mind that their money is in safe hands.

The SEC’s guidance on securities influences non-SEC cases as well. Thus, senior finance decision-makers must understand the SEC’s role, as they will never want to irk the biggest regulator in the high-stakes game.

Risks of using a crypto exchange for day trading

Day trading itself is a risky affair, and using a sub-par crypto exchange for day trading may add to those risks. There are several risks of using a crypto exchange for day trading, but the most important ones are:

• Security risk: Even though exchanges use security measures, they still face security risks. Hackers are always looking to gain unauthorized access to user funds. They may also target individual users, and thus, it is vital that the platform you select has an additional security layer in place, such as 2FA (two-factor authentication).
• Lack of Regulation: Crypto is a new asset class, and thus, regulatory frameworks for exchanges are still being developed and refined in many parts of the world. The absence of regulation raises the chances of fraud and unethical practices by exchanges. So, before selecting an exchange, you must get detailed information on the regulations the exchange complies with.
• Operational risk: An exchange may experience issues like technical glitches and system failure. Such issues can result in poor user experiences and may even lead to massive losses. To reduce operational risks, it is recommended that you select an exchange with a high reputation and reliability.
• Liquidity risk: Liquidity basically refers to how quickly a crypto can be converted into cash on an exchange without significantly affecting its price. An exchange with high turnover and high transaction volume may not face liquidity issues.
• Asset delisting: Exchanges may delist certain coins from trading due to a number of reasons, such as security concerns, failure to comply with regulations and legal obligations, or poor performance. Though exchanges give users time to adjust their holding of the asset, which will be delisted, it may still mean losses for users.

How is crypto day trading taxed?

Cryptocurrency is classified as property by the IRS (Internal Revenue Service). So, a crypto transaction is treated similarly, meaning the tax on your crypto transaction primarily depends on the duration you hold the crypto. Other factors determining your crypto tax are your annual income and filing status.

If you owned a crypto for 365 days or less, you will be subject to a short-term gains tax. If you owned a crypto for more than a year, you would have to pay long-term gains taxes. Short-term tax rates if you sell crypto in 2024 (taxes due in 2025) range from 10% to 37%, while long-term rates range from 0% to 20%.

A key point to note is that you won’t be taxed for holding crypto; rather, the tax triggers only when you sell it, use it to buy goods or services or trade it for another crypto. In other words, we can say the tax triggers when you realize a profit or loss using your crypto.

Our methodology explained

We analyzed the 20 most popular exchanges across 46 individual factors to determine the best crypto exchange for day trading. Our team of experts assigned scores to each factor to arrive at a cumulative score for each exchange.

We used this score to come up with the best crypto exchange for day trading. Some of the factors that we looked at were:

Fees: We considered fees for buying and selling cryptocurrencies, including maker and taker fees, spread, deposit, and withdrawal fees. An exchange with a transparent and competitive fee structure secured higher scores.  

Regulation and security: We gave preference to exchanges that are registered and regulated by concerned authorities in the region in which they operate. Moreover, the exchanges that have adopted extra security to safeguard users’ money, such as 2FA, cold storage for crypto assets, and more, achieved higher scores than those without it.

Cryptocurrencies supported: Exchanges that support more cryptocurrencies, including all popular ones and new ones, got higher scores. The higher the number of cryptocurrencies supported, the more options traders get.

Customer support: We considered the quality and accessibility of each exchange’s customer support options and the response time of each option.

Ease of use: We considered the platform’s user interface, navigation menus, and more factors – for both web and mobile apps – to determine whether or not the platform is easy to use for beginners and for experienced traders.

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