Binance ranked first across multiple key metrics in the CryptoQuant’s 2024 Crypto Survey report, showcasing its position as the top choice for crypto users who rely on the data platform to make informed decisions.
Binance dominates in the Middle East, South America, Africa, Asia, and Europe, being the preferred platform of between 50 and 72% of respondents residing in these regions.
Over half (51%) of respondents attribute most of their profits to Binance, 32% of respondents believe Binance has the highest compliance standards (18% more than the next CEX), and more than half of respondents think Binance has the best cybersecurity measures (54%) and customer service (55%).
CryptoQuant, a leading blockchain analytics firm, conducted an online survey during November and December 2024 among its social media and on-chain data platform users – mostly data-savvy crypto investors who rely on CryptoQuant’s analytics to navigate the market. A total of 1,478 users responded to the survey, which consisted of 35 questions about their crypto exchange preferences and use, and investing behavior.
This comprehensive report highlights Binance as the top-performing cryptocurrency exchange across multiple key metrics, achieving first place in several critical categories.
Binance has firmly established itself as the leading choice for crypto users worldwide, earning trust and recognition across the industry. According to survey results, 53% of CryptoQuant’s respondents identified Binance as their primary centralized exchange. Additionally, nearly half (48%) of respondents hold most of their crypto assets on Binance, suggesting that the platform has a strong reputation among knowledgeable crypto users for security and reliability.
Furthermore, Binance is ranked as the top CEX for key performance areas, including cybersecurity, customer service, and peer-to-peer (P2P) trading. More than half of respondents think Binance has the best cybersecurity measures (54%), customer service (55%) and P2P platform (59%). In addition, 83% of respondents value compliance, having reported monitoring or avoiding exchanges with regulatory issues, and 32% believe Binance has the highest compliance standards, 18% more than the next CEX. These perceptions reflect Binance’s dedication to delivering a compliant, secure, user-friendly, and versatile experience for its global community of users.
Binance continues to dominate globally as the preferred exchange, achieving impressive market shares across key regions. In the Middle East, South America, and Africa, Binance dominates with 52%-72% of users. The platform also demonstrates strong presence in highly competitive markets such as Asia and Europe, with usage rates of 50% and 51%, respectively. These figures suggest Binance’s universal appeal and its ability to meet the diverse needs of users worldwide.
Over half (51%) of respondents report obtaining most of their profits from Binance, which can be attributed to its advanced trading tools, high liquidity, and innovative features. The report also shows that most (more than 40%) respondents use Binance Launchpool.
The success of Binance Launchpool further highlights its ability to empower users with financial opportunities, as it remains the preferred platform for participating in new token launches. This data is in line with Binance’s consistent efforts to act as a gateway to financial opportunities in the crypto space.
2024 has been a standout year for Binance, marked by exceptional achievements. In addition to its recognition by CryptoQuant users, Binance ranked as the most visited cryptocurrency platform of 2024 by Cloudflare’s web traffic report and secured the 6th spot globally in the financial services sector. It also became the first centralized crypto exchange to surpass $100 trillion in lifetime trading volumes, according to CCData. As of early December 2024, DefiLlama data showed Binance’s inflows reached $21.6 billion, nearly 40% higher than the combined total of the next ten centralized exchanges.
“The survey and these milestones demonstrate the growing trust and engagement of users with Binance as their preferred platform,” said Andy Goldin, Binance's Head of Data & Analytics. “The data reflects our commitment to meeting user needs through innovation, security, and a robust ecosystem. With over 250 million registered users globally, we are proud to play a pivotal role in driving the adoption of blockchain technology and shaping the future of the cryptocurrency industry.”
