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Understanding cryptocurrency on its own can be daunting, and if you’re new to cryptocurrency trading, finding the right platform to buy and sell popular assets like bitcoin, ethereum, and dogecoin can be another challenge. Also, if you don’t want to use your exchange’s built-in wallet (if applicable), you’ll need to set up an external crypto wallet to store your assets securely.
Reading: Best exchange to buy bitcoin
Most cryptocurrency exchanges also offer staking rewards (for holding a crypto asset for a set period of time), margin trading, and institutional services. Additionally, you will find that many platforms offer cryptocurrency-backed loans and payment benefits (for example, the Coinbase debit card offers users up to 4% cash back on purchases). We have compiled some of the best cryptocurrency exchanges to buy and sell crypto assets. read on to find the best option for you.
best for bitcoin oriented merchants: coinbase
best for low rates: open
best for futures and margin traders: kraken
best cryptocurrency pick: cex.io
best for bitcoin and ethereum traders: gemini
best for all types of traders: etoro uses
compare the best cryptocurrency exchanges to trade bitcoin and other assets
coinbase (jump to coinbase details »)
Why It Stands Out: Coinbase offers over 100 cryptocurrencies, including bitcoin, ethereum, litecoin, dogecoin, and ripple. The exchange also offers multiple investment options for individual and institutional clients. Some of your account features include staking rewards, mobile apps for iOS and Android, and a Coinbase earning account option that pays you in crypto for watching educational videos.
coinbase also offers two other options: coinbase pro for advanced traders and coinbase prime for institutions and high net worth clients (individuals with at least $1 million). Coinbase Pro users get access to more advanced features such as secure trading bots, charting tools, and real-time order books.
In addition to the leading cryptocurrency trading platform, institutional clients can use trading services, cold storage (offline storage for crypto assets), and an asset center that allows issuers to list and grow their products on the platform.
Furthermore, Coinbase also recently released the beta version of its NFT trading platform. For a limited time, it offers no transaction fees for creators and collectors using the platform. many nft platforms charge 2.5% per transaction, so coinbase’s offerings are very competitive when it comes to pricing (read more about their nft platform here).
read our coinbase review for more information.
what to watch out for: if you regularly use margin accounts for trading, coinbase is not the best option. The exchange does not allow you to temporarily borrow money to trade crypto assets, nor does it offer futures (legal contracts that give you the option to trade a security at a specific price at a later date).
open (jump to open details »)
Why It Stands Out:abra is a global crypto exchange serving individual and institutional traders in over 150 countries. Along with the fact that Abra does not charge any trading fees (although it earns income from distribution between different assets), the exchange also stands out due to its wide selection of crypto products and features.
This includes trading 80 cryptocurrencies, interest accounts that allow you to earn up to 10% on eligible assets, cryptocurrency-backed loans, over-the-counter (OTC) trading, and multiple educational guides for beginners. Its OTC services also provide institutional clients with access to interest bearing accounts, loans, and personalized account support.
In addition, Abra pays you 3% cash back on cprx token trades, and the exchange offers 0% interest loans.
abra is available on ios and android phones.
read our abra review to learn more.
what to consider: visa and mastercard transactions have high fees.
kraken (jump to kraken details »)
See also: WalletGenerator.net – Universal Paper wallet generator for Bitcoin and other cryptocurrencies
Why It Stands Out: Kraken has over 100 cryptocurrencies with a variety of options for both retail and institutional investors. but when it comes to global support, kraken has a bit more reach than binance.us. the exchange currently supports traders in nearly 200 countries.
kraken also offers margin trading and futures trading. With your margin accounts, you can borrow up to five times your account balance to trade crypto assets. futures trading (contracts that allow you to buy or sell an asset at a fixed price at a future date) is available for bitcoin, ethereum, litecoin, bitcoin cash, and ripple.
The exchange also offers its own futures trading platforms. but institutional clients can take advantage of expert insights, individual consultations, account management support and more.
all customers can use kraken staking rewards, access to ios and android mobile apps and educational resources.
see our kraken review for more information.
what to note: the kraken mobile futures platform is currently not available to us, the traders. In addition, only institutional and high net worth clients can use the exchange’s account consultation and management services.
cex.io (jump to cex.io details »)
Why It Stands Out:Headquartered in London, cex.io is a global cryptocurrency exchange supporting merchants in over 99% of the world’s countries, including 48 US states. USA, according to its website. the exchange also gives you access to bitcoin and over 100 other crypto assets.
all users can access cex.io’s instant purchase feature (this is for credit and debit card purchases only), mobile app, staking rewards, and crypto-backed loans. but more advanced traders may prefer cex.io’s spot trading feature (this option allows you to place different types of crypto market orders) and margin trading accounts. institutions and businesses can use its payment management and aggregation services.
It is also important to note the cex.io fee schedule. The exchange has a maker/taker schedule that is based on your 30-day trading volume. the manufacturer’s orders cannot be executed immediately as there are no other orders matching them; however, buyer orders are immediately matched, according to cex.io.
Their maker fees range from 0.00-0.15%, and taker fees range from 0.01-0.25%. you can also access cex.io on ios or android devices.
you will find more details in our cex.io review.
What to consider: Debit or credit card transactions can be expensive on cex.io. for visa and mastercard deposits you will have to pay a fee of 2.99% (only 1.49% is required for gbp deposits with uk issued cards). Withdrawals for US residents using a visa card include a service charge of up to 3% plus an additional $1.20 and a fee of up to $3.80. mastercard users can expect a service charge of up to 1.8% plus an additional $1.20. there is also a commission of up to 1.2% plus $3.80.
gemini (jump to gemini details”)
why it stands out: gemini offers a wide variety of cryptocurrency exchange services for individuals and institutions. Traders can take advantage of multiple platforms, including the Gemini Web Exchange, Gemini iOS and Android Mobile Apps, Gemini Active Trader Platform, Gemini Fund Solutions, and Institutional Trading Tools.
but the exchange also offers some other notable features: gemini wallet, gemini earning, gemini clearing (brokerage services for off-exchange crypto transactions between parties), gemini custody, gemini payment, and gemini dollar (a digital asset backed by dollars Americans).
Although Gemini is not strictly a personal wallet service, its two storage and custody options (Gemini Wallet and Gemini Custody) give you the option of online storage or institutional offline storage for your crypto assets. Gemini Custody also offers $200 million in cold storage insurance coverage.
See also: Quantum Computers Could Crack Bitcoin. Here&039s What It Would Take
gemini gain gives you the option to receive up to 8.05% interest on your cryptocurrency balance, while gemini pay gives you the option to use your assets to make purchases at over 30,000 US retailers. . uu.
learn more by reading our gemini review.
what to note: gemini has various fee schedules for different accounts and account actions. Although you will not be charged for transferring funds through automatic or electronic methods, transfers by credit or debit card have a fee of 3.49%. the exchange also has a limited number of cryptocurrencies (see the full list of supported assets here).
etoro uses (jump to etoro uses details »)
The etoro usa cryptocurrency exchange offers a highly secure and easy-to-navigate interface that gives you access to over 25 cryptocurrencies. the exchange also supports traders in 140 countries, and you will need at least $10 to trade.
When it comes to trading, you can take the DIY approach or you can use one of etoro’s two hands-off options. The first, known as the copytrader™ system, allows you to mirror the portfolios of other successful traders. Currently, US customers uu. they can only mimic the portfolios of other us investors. uu. and you’ll need at least $200 to do it.
The second option is smart wallets. the exchange currently offers access to four different pre-built wallets: cryptoequal, cryptoportfolio, crypto-currency, and thetie-longonly smartportfolio, which etoro regularly rebalances for you.
Finally, etoro offers something that many cryptocurrency exchanges don’t: stock and etf trading. As of January 2022, users can trade both full and fractional stocks and ETFs commission-free.
To learn more, read our etoro usa review.
what to note: etoro currently does not support merchants in new york, minnesota, nevada, puerto rico, tennessee, hawaii, guam, american samoa, northern mariana islands and us virgin islands .
other platforms we consider
- binance.us: binance.us supports more than 50 cryptocurrencies and offers investment options for both individuals and institutions. Your account benefits also include staking rewards, recurring purchases, OTC trading, crypto trading pairs, and stablecoins (assets backed by US dollars). but it may not be the best option for beginner traders as its educational offerings are limited.
- bitstamp: bitstamp is a luxembourg-based company that offers more than 60 cryptocurrencies , with options for advanced traders and institutional traders. US customers can trade crypto assets through its subsidiary, Bitstamp USA. the lowest fees start at 0.5% and you’ll need at least $10 to trade.
- sofi: sofi is more of an online brokerage than a cryptocurrency exchange, but It currently offers three crypto assets: bitcoin, ethereum and litecoin. the trading app also charges a 1.25% surcharge on all cryptocurrency transactions, which means you will receive an additional 1.25% on top of the final price of your share(s). the only drawback is that sofi’s encryption options are limited and their fees are a bit higher than other exchanges.
- bittrex: when it comes to the security of the account, bittrex is hard to beat. In addition to two-factor authentication, the exchange says it uses a multi-stage wallet strategy to make sure funds are kept in secure cold storage (offline storage). Bittrex transaction fees are also noticeably lower compared to other exchanges. Please note, however, that Bittrex is not available to residents of New York, Connecticut, Vermont, or Hawaii.
- Webull: This online brokerage only requires $1 to start trading crypto, but your selection of investments is limited. webull may not be the best crypto option if you want to trade assets other than bitcoin, dogecoin, bitcoin cash, ethereum, litecoin, zcash or stellar.
- robinhood: this broker The fee-free structure has quite a bit of appeal for those who prefer low-cost investments, but like Sofi and Webull, Robinhood’s cryptocurrency selection is shorter. the investment app only offers 11 cryptocurrencies, including bitcoin, bitcoin cash, bitcoin sv, ethereum, dogecoin and others.
how do we determine the winners
We researched over a dozen exchanges to find the best options for cryptocurrency availability, low fees, asset/account security, user interfaces, and mobile access.
We also explored whether exchanges offered services for both individuals and institutions, and paid close attention to other account options such as staking rewards, margin trading, and stablecoin support.
frequently asked questions
why trust us?
At personal finance insider, our goal is to help smart people make the wisest decisions with their money. We also know that the word “best” is often subjective, so we make sure to highlight both the pros and cons of cryptocurrency exchanges.
We spend hours comparing and contrasting the features and product offerings of various cryptocurrency exchanges so you don’t have to.
what is a cryptocurrency exchange?
A cryptocurrency exchange is like an online brokerage for cryptocurrencies, tokens (virtual assets created through existing blockchains), and other digital assets. Many of these exchanges offer investment options for active traders looking to buy, sell, or hold digital assets such as Bitcoin, Ethereum, and Litecoin.
Most exchanges also offer custody and storage options for users looking to securely protect their crypto assets from theft and hacking. but then again, most exchanges are not solely personal wallet services. If you want to set up an external wallet with a bitcoin wallet provider or other storage wallet service, you can do so while maintaining your crypto exchange account. you can simply transfer assets between your exchange account and crypto wallet when needed.
See also: Monero vs Bitcoin | What is The Difference?
