After comprehensively reviewing 28 cryptocurrency exchanges in more than 20 weighted categories, our top picks for the best cryptocurrency exchanges include Kraken, Coinbase, and Crypto.com. To find you the best options, we researched key criteria such as security, offerings, availability, fees, financial options, features, and mobile capabilities.
Cryptocurrency exchanges operate similarly to other central exchanges, such as traditional online brokerages. With the price of Bitcoin touching new all-time highs of over $98,000 in November 2024, the best crypto exchanges offer you all the tools needed to research and invest in Bitcoin and other cryptocurrencies such as Shiba Inu or Dogecoin. In addition to providing a platform to securely buy and sell digital currencies and tokens, many crypto exchanges offer additional crypto investment services, such as staking, lending, and digital asset custody.
Best Crypto Exchanges and Apps for December 2024
Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) are highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies; nor can the accuracy or timeliness of the information be guaranteed.
Best for Low Fees and Best for Experienced Traders : Kraken
- Transaction Fees: 0.00% to 0.40%
- Currencies: 200+
- Minimum Deposit Or Purchase: $1
- Trade Limits: Yes
Kraken’s professional-grade trading platform is our pick for the best low-fee exchange because it charges some of the lowest fees in the crypto asset exchange landscape. However, it’s also our top choice for experienced traders, as it offers advanced order types and supports margin and futures trading.
Large number of supported cryptocurrencies
Low fees
Highly liquid exchange
Not available in all U.S. states
Limited account funding options
Established in 2011 and headquartered in San Francisco, Kraken is one of the most reputable cryptocurrency exchanges in the world. The San Francisco-based exchange enables investors to buy, sell, and store over 200 cryptocurrencies while charging low fees on its professional-grade trading platform, Kraken Pro.
This feature-rich crypto exchange established itself as the go-to platform for professional investors in the early days of the crypto asset market, and it has maintained its reputation as a reliable and professional trading venue.
Kraken offers two platforms: its main trading platform and its professional platform, Kraken Pro. The exchange’s Pro dashboard provides highly customizable chart analysis tools, detailed insight into the order books, numerous order types, and high-speed execution. In addition to spot trading, Kraken users can also trade cryptocurrency using margin and execute crypto derivatives trading strategies.
Cryptocurrency investors who use the instant buy feature will incur a charge for the service. The fee will vary depending on the funding method, market conditions, order size, and asset type. When ready to execute the trade, investors will find the fee included in the pricing.
Kraken and Kraken Pro both offer a tiered fee structure that allows high-volume traders to save on trading fees. For traders with 30-day volumes of less than $10,000, Kraken Pro’s maker fees start at 0.25%, and taker fees start at 0.40%. However, maker fees can drop as low as 0%, and taker fees can drop as low as 0.10% (for traders with 30-day rolling volumes of over $10 million). Moreover, Kraken has limited funding options, with wire transfers being the primary payment method for Kraken users. ACH transfers are not supported.
Best for Beginners : Coinbase
- Transaction Fees: 0.00% to 0.60%
- Currencies: 200+
- Minimum Deposit Or Purchase: $2
- Trade Limits: Yes
Coinbase is our pick for the best crypto exchange for beginners because it offers a large number of supported cryptocurrencies, strong security, and advanced trading options, all on an easy-to-use platform.
Large number of cryptocurrencies and trading pairs
Offers both beginner-friendly and advanced trading platforms
Highly liquid exchange
Lack of high-quality customer service
Coinbase's default wallet is a custodial account, with no control over your private keys
Coinbase was founded in 2012 to enable people to buy, sell, and store Bitcoin. Fast-forward to today, Coinbase is a publicly traded cryptocurrency exchange geographically decentralized with no headquarters and available in 100+ countries. It stands out for providing a user-friendly trading experience, robust security, and a range of advanced features for experienced traders.
Because of its large number of supported assets (5,500+) on Coinbase Wallet and easy-to-use platform, Coinbase has become the go-to exchange for many first-time crypto buyers. The platform has the look and feel of an online banking app, which most people use already, making the transition to crypto investing simple.
Coinbase also insures the digital funds it holds on behalf of users and stores U.S. dollar balances in Federal Deposit Insurance Corporation (FDIC)-insured bank accounts to prevent a loss of user funds in the case of a security breach. Trading accounts can be funded with a wide range of payment methods, including wire transfer and ACH transfer.
What’s more, Coinbase also offers crypto storage options. The first is a custodial option for new investors: storing your coins on the Coinbase.com exchange. The second is a non-custodial wallet (Coinbase Wallet) for experienced crypto users. When storing your crypto on Coinbase.com, Coinbase holds the private keys and effectively stores funds on behalf of Coinbase.com users. With Coinbase Wallet, the user has complete control over their funds as they hold the wallet’s private keys.
While Coinbase is a suitable digital asset exchange for both new and advanced crypto investors, trading fees can be relatively high, ranging from 0% to 0.60%, depending on trade volume. In addition, Coinbase’s user feedback is relatively poor. For instance, several Trustpilot users mention problems with customer support. Additionally, there are numerous stories of unexpected account closures that have tainted the exchange’s image.
Moreover, Coinbase has been charged by the U.S. Securities and Exchange Commission (SEC) with allegedly operating as an unregistered securities exchange. The SEC claims that “Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions.”
Coinbase says it has asked the SEC several times how to satisfy the regulator’s concerns.
Despite the exchange’s drawbacks and the current charges by the SEC, Coinbase is still worth considering due to its ease of use.
Best Mobile App : Crypto.com
- Transaction Fees: 0.00% to 0.075%
- Currencies: 350+
- Minimum Deposit Or Purchase: $1
- Trade Limits: Yes
We chose Crypto.com as the best mobile crypto exchange app because it provides an extensive digital asset trading and investing ecosystem you can access easily from your smartphone.
Supports more than 350 cryptocurrencies
Provides a range of cryptocurrency products
Poor customer support
After launching in 2016 and being founded in Hong Kong, Crypto.com has established itself as one of the leading global crypto exchanges. It’s now available in 90 countries worldwide, and it supports over 350 cryptocurrencies.
In addition to offering a large number of supported assets, Crypto.com provides a vast digital asset ecosystem composed of its own blockchain, Crypto.org Chain; a native token called CRO; a crypto visa card; yield-generating crypto products; and more.
What stands out the most, however, is the Crypto.com mobile app. While many crypto exchange mobile apps provide a watered-down version of the exchange’s web-based platform, Crypto.com put a strong focus on building an app that offers a wide range of products and features so users can benefit from this exchange’s ecosystem on the go. Mobile app users can buy, sell, trade, and earn interest on their crypto, as well as pay with crypto.
While Crypto.com offers an impressive array of products and features, customer support is lacking. Additionally, unless you trade at higher volumes, you will end up paying trading fees of up to 0.075%.
If you are looking for an excellent mobile crypto trading experience, Crypto.com is arguably the best option thanks to its range of products and features, as well as its large number of supported assets.
Best For Security : Gemini
- Transaction Fees: 0.0% to 0.40% for active trader, 1.49% for most transactions on regular platform
- Currencies: 70+
- Minimum Deposit Or Purchase: Varies
- Trade Limits: Yes
We have picked Gemini as the crypto exchange with the best security because it has robust security protocols, insures user funds, and is SOC 2-certified. (SOC, or Service and Organization Controls, is a cybersecurity compliance standard). However, alongside its high-security standards, crypto traders will appreciate that the site's user experience is sleek and easy to use.
Available to users in all 50 U.S. states
Highly liquid exchange
Insures funds held in hot wallet
Strong security framework
High fees on many trades
Supports fewer cryptocurrencies than many competitor exchanges
Launched in 2014 in New York City by Tyler and Cameron Winklevoss, Gemini stands out for putting a strong emphasis on security and compliance. The New York-based exchange has hot wallet insurance to make sure user funds remain safe in the case of a security breach.
Gemini also encourages users to utilize two-factor authentication to secure their accounts, and it provides the option of reviewing and approving devices used to log into the trading account. Another standout security feature of Gemini is that it is SOC 2-certified, which means that external auditors have verified the company’s security and compliance frameworks.
Built with advanced traders in mind, Gemini provides a professional-grade trading dashboard and supports over 80 digital currencies and tokens, including fiat currencies. Gemini also offers a cryptocurrency reward card and allows participants to use it to pay for goods and services with crypto.
Gemini's main platform and active trader platform use different fee structures. The primary platform charges fixed amounts for smaller trades and a very high 1.49% on trades above $200. The active trader platform charges maker and taker fees up to 0.4%, with reductions as your volume grows. These are also on the high side. However, paying the comparatively high fee may be a small price to pay for Gemini’s highly robust security.
Traders and investors who prefer to trade on a highly secure platform will appreciate what Gemini has to offer.
Best for Altcoins : BitMart
- Transaction Fees: 0.04% to 0.10%
- Currencies: 1500+
- Minimum Deposit Or Purchase: $50 for Bitmart purchases
- Trade Limits: Yes
BitMart is our top pick in the best for the altcoins category. Although crypto traders can still trade popular cryptocurrencies such as Bitcoin and Ethereum, BitMart allows users in 160+ countries to buy and sell over 1,500 cryptocurrencies.
Supports a very large number of cryptocurrencies
Provides crypto earning opportunities
Offers a simple buy/sell cryptocurrency feature
Experienced a large-scale hack in 2021
Poor feedback from customers
Founded in 2017, BitMart is a global cryptocurrency exchange that’s available in over 160 countries. It allows users to buy, sell, and store over 1,500 digital currencies and tokens.
Incorporated in the Cayman Islands, BitMart has established itself as a leading trading venue for small and mid-cap cryptocurrencies. BitMart offers more assets and trading pairs than its market-leading peers, so Investors looking to add newly launched or obscure crypto assets to their portfolios will likely find what they are looking for on this exchange.
Additionally, BitMart customers can use the exchange’s Earn feature to receive interest on crypto assets held with the exchange. However, BitMart Savings is not available to investors residing in the United States. Moreover, experienced crypto traders can trade perpetual swaps on over 100 cryptocurrencies on BitMart with leverage of up to 100 times. Users can also access trading fee discounts when holding the exchange’s native token, BMX.
While BitMart has a lot to offer for experienced crypto traders, the exchange has received some poor customer feedback over the years. Several complaints from users reported withdrawal problems, poor customer support, and trust issues. Other users report positive experiences.
Moreover, BitMart suffered a security breach in December 2021 that resulted in the loss of $196 million in user funds. BitMart promised to reimburse users. Still, the Kaspersky cybersecurity firm cites the hack as one of the most infamous cybersecurity hacks.
Despite these drawbacks, crypto enthusiasts interested in trading a wide range of lesser-known cryptocurrencies will find what they are looking for on BitMart.
Best for Bitcoin : Cash App
- Transaction Fees: 0.00% to 3%
- Currencies: 1
- Minimum Deposit Or Purchase: $1
- Trade Limits: Yes
We chose Cash App as our top pick among Bitcoin-only exchanges as it allows you to seamlessly and securely buy, sell, and store Bitcoin from your smartphone.
Easy-to-use interface
Withdraw to wallets
Supports the Bitcoin Lightning Network
Only supports Bitcoin
Custodial wallet
Various limits on deposits, sales, etc.
Launched in 2013 by Block, Inc. (formerly Square, Inc.), and headquartered in San Francisco, Cash App allows individuals in the United States and the United Kingdom to send, spend, bank, and invest. It’s essentially a mobile banking app geared towards peer-to-peer payments, but it also has an investment component. Users can invest in stocks, ETFs, and Bitcoin through Cash App. Unlike its peers, such as Robinhood and Venmo, Cash App also lets users withdraw their Bitcoin to external wallets, which makes it stand out from its competition.
In early 2022, Cash App’s CEO Jack Dorsey announced that the company has started to roll out support for the Bitcoin Lightning Network to enable near-instant Bitcoin transfers at almost no cost.
The main drawback of using Cash App to buy and store Bitcoin is that the in-app wallet is custodial, which means the company holds your virtual currency on your behalf. While custodial wallets can be convenient, they are also regarded as less secure than non-custodial wallets. However, since you can withdraw your Bitcoin from Cash App, you can move your cryptocurrency into a personal wallet to which you hold the private keys.
Cash App’s Bitcoin trading fees vary and are only shown when you are asked to confirm your buy or sell crypto transaction. When you trade Bitcoin, Cash App uses the mid-price and adds a spread fee. Cash App is also a winner in our Best Money Transfer Apps roundup article. Making it a versatile option for those who want to own Bitcoin and be able to send money.
Best Decentralized Exchange : Bisq
- Transaction Fees: 0.15% to 1.15%
- Currencies: Not Disclosed
- Minimum Deposit Or Purchase: Not Disclosed
- Trade Limits: Yes
Bisq is our pick for the best decentralized exchange because it allows users anywhere in the world to securely and privately buy and sell Bitcoin and a range of other cryptocurrencies.
Available globally
Offers a high degree of privacy, no ID verification required
50+ different payment options
Transaction speed can be slow
Trading volumes can be low
Not designed for active trading
Launched in 2014 and headquartered in Barcelona, Catalonia. Bisq is an open-source cryptocurrency trading software that enables individuals from across the globe to trade a range of digital currencies and tokens in a peer-to-peer manner. It currently does not disclose how many cryptocurrencies it supports.
This decentralized exchange does not require users to complete a Know Your Customer (KYC) identity verification process, nor is the trading software limited to users in specific jurisdictions. On Bisq, users can buy and sell Bitcoin and other types of crypto using various payment methods, including bank wire transfers, ACH transfers, and cash deposits.
While Bisq is popular among early cryptocurrency adopters as it stays true to many of the values that Bitcoin was built on, such as decentralization, privacy, and sovereignty, the exchange is not very beginner-friendly. The escrow mechanism used in the peer-to-peer trading process may be challenging for new users while the comparatively slow trade execution could deter first-time users and active traders. Additionally, the exchange is more targeted at making smaller trades as trading volumes are lower than on centralized global exchanges.
However, for experienced crypto investors who prefer to trade on a decentralized, KYC-free platform, Bisq offers everything you need to buy and sell cryptocurrency.
Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors.
Our Expert Picks
Choosing the right crypto exchange that meets your needs as an investor is an essential aspect of investing in cryptocurrencies. Whether you require easy liquidity, low trading fees, a wide variety of tradable assets, or a user-friendly mobile trading experience, you can find an exchange that fits the bill.
If you're looking to trade on a highly secure, regulated crypto exchange that offers a large number of supported cryptocurrencies, Gemini is your go-to choice. If, instead, you're looking to trade a wide range of new and small-cap crypto tokens, BitMart is arguably the best choice. Conversely, if you're only interested in investing in Bitcoin, CashApp is probably the most convenient option.
Experienced traders looking to deploy advancing crypto derivatives trading strategies will find a home with Kraken, while privacy-conscious crypto investors will enjoy the added layer of privacy that the decentralized exchange Bisq offers.
Compare the Best Cryptocurrency Exchanges
Company | Transaction Fees | Currencies | Minimum Deposit or Purchase | Trade Limits |
---|---|---|---|---|
Kraken Best for Low Fees & Experienced Traders | 0.00% to 0.40% | 200+ | $1 | Yes |
Coinbase Best for Beginners | Variable fees (Coinbase), 0.00% to 0.40% maker fee, and 0.05% to 0.60% taker fee per trade | 200+ | $2 | Yes |
Crypto.com Best Mobile App | 0.00% to 0.075% | 350+ | $1 | Yes |
Gemini Best for Security | 0.0% to 0.40% for active traders, 1.49% for most transactions on the regular platform | 70+ | Varies | Yes |
BitMart Best for Altcoins | 0.04% to 0.10% | 1,500+ | $50 for Bitmart purchases | Yes |
Cash App Best for Bitcoin | 0.00% to 3% | 1 | $1 | Yes |
Bisq Best Decentralized Exchange | 0.15% to 1.15% | Not Disclosed | Not Disclosed | Yes |
Financial Advisor Insight
"Crypto is a relatively new asset class that is picking up interest as the days go by. We have seen “new” assets garner a great deal of interest and simply go away as time goes on. I do not believe crypto will be an asset that goes away, but how it is used and what coin or option will be the most viable is hard to tell. I think the best way to go about investing in this space is using an ETF (Exchange Traded Fund) that will provide you with exposure and diversification within the asset class. It will also insulate you from fraudsters and thieves who may try to steal Bitcoin directly from your wallet. You may think that this is impossible, but we had a family we work with that had $150k of Bitcoin stolen right from their wallet, and there was nothing they could do about it." - Lawrence Spung, a member of Investopedia’s Financial Advisor Council.
Guide for Choosing the Best Crypto Exchanges
Are Crypto Exchanges Worth It?
If you are looking to purchase cryptocurrencies, signing up for a crypto exchange can be your best option to get started.
While buying a few hundred dollars worth of Bitcoin from a local Bitcoin ATM may be convenient, it makes more sense to use an exchange if you are looking to invest a larger amount or you’re interested in buying a range of cryptocurrencies.
Crypto exchanges are the safest and most legal way to obtain cryptocurrency. But those aren't the only reasons using an exchange is most suitable:
- Crypto exchanges let users buy and sell cryptocurrencies online or using a mobile app, making it easy to access the crypto markets from anywhere.
- Most cryptocurrency exchanges offer a range of digital currencies and tokens, providing numerous options for investors who want to build a diversified portfolio of digital assets.
- Leading crypto exchanges typically hold user funds in cold storage to ensure the safety of assets.
- Global crypto exchanges usually comply with Know Your Customer and Anti-Money Laundering (KYC/AML) rules as well as financial regulations. Therefore, users can be assured they’re not dealing with a fraudulent company or malicious market participants.
How to Choose the Best Crypto Exchange
When choosing a crypto exchange that meets your needs, there are several factors to consider. The most important things to look at are:
- Supported assets: If you are looking to buy cryptocurrencies other than Bitcoin, look at the list of supported assets before deciding on an exchange. Some only support a few cryptocurrencies, while others allow you to trade hundreds.
- Payment methods: Crypto exchanges typically offer a handful of ways to fund your account or purchase cryptocurrencies directly. While most exchanges support wire transfers, some platforms also allow you to buy crypto using credit cards, debit cards, and other digital payment methods.
- Fees: High fees can eat into your investment returns, which is why it is important to research crypto exchange fees before you open an account. Crypto exchanges typically charge trading fees and withdrawal fees, but other transaction fees can also pop up.
- Security: Unfortunately, crypto exchanges are a prime target for hackers looking to get their hands on cryptocurrency. Security breaches and cyber theft are common in the crypto exchange landscape, which is why it is essential to choose an exchange with strong security measures in place.
- Customer service: If you are new to cryptocurrency or investing, you may have questions or need help getting started. In that case, choosing an exchange with excellent customer support is probably the right move.
- Reputation: Before you sign up for an account on a crypto exchange, it’s a good idea to research that exchange’s reputation first. Read customer reviews, look into the exchange’s history, and look for any recent news stories that might provide some valuable insight.
How to Sign Up for a Cryptocurrency Exchange Account
Opening an account on a cryptocurrency exchange works similarly to signing up for an online brokerage account. Investors will need to provide personal and financial information to open an account successfully.
Below are the general steps that investors can expect to follow:
- Create an account: Investors must provide an email address and create a password to open an account. You will then receive an email asking you to confirm that you are the owner of that email account.
- Upload personal information: Next, you will need to provide your personal information. This generally involves providing your full name, address, and mobile phone number and then uploading a copy of a government-issued photo ID such as a driver's license or passport.
- Complete identity verification: Some exchanges may also require an extra step to prove the ID you're uploading is yours. Generally, this involves taking a photo of yourself holding your ID with a webcam or phone and submitting the photo to the exchange.
- Fund your account: After completing the verification process, you can fund your trading account using the available funding options and start to buy and sell cryptocurrencies.
User verification can take anywhere from a few minutes to several days, depending on the exchange and the verification level required. Exchanges often offer tiered verification levels, with lower tiers requiring less information. Lower verification tiers, however, usually come with lower deposit and withdrawal limits.
Why You Should Trust Us
Investopedia collected and analyzed key data points from several crypto exchanges to identify the most important factors for readers choosing the best crypto exchange company. We used this data to review each company for fees, available cryptocurrency, minimum deposit, and other features to provide an unbiased, comprehensive review to ensure our readers make the right decision for their financial needs. Investopedia launched in 1999 and has been helping readers find the best crypto exchange since 2020.
Frequently Asked Questions
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How Does A Cryptocurrency Exchange Work?
A cryptocurrency exchange is an online marketplace where users buy, sell, and trade cryptocurrency. Crypto exchanges work similarly to online brokerages, as users can deposit fiat currency (such as U.S. dollars) and use those funds to purchase cryptocurrency. Users can also trade their cryptocurrency for other cryptocurrencies, and some exchanges allow users to earn interest on assets held within the exchange account.
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What Should You Look at When Choosing a Cryptocurrency Exchange?
When choosing a cryptocurrency exchange, there are several things to consider, including security, fees, and cryptocurrencies offered. It is also important to understand how your cryptocurrency is stored and whether you can take custody of that cryptocurrency by transferring it to your own digital wallet.
Consider whether you prefer a centralized exchange, which will closely align with financial regulations from governmental authorities (such as the U.S. Securities and Exchange Commission), or a decentralized exchange. Decentralized exchanges are unregulated online exchanges with no centralized governing authority; they offer transparent transactions and fees as well as direct peer-to-peer exchange of cryptocurrency.
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How Do You Buy Cryptocurrency?
Most centralized exchanges allow you to deposit funds via your bank account, credit card, or debit card to purchase cryptocurrency. You can then exchange those funds for the cryptocurrency of your choosing. While some offer only simple market orders, other exchanges will allow you to set more advanced order types, including limit and stop orders.
Once you purchase crypto through an exchange, the exchange typically holds it in a custodial wallet. Most exchanges store assets in offline “cold storage” for safekeeping. If you want to take custody of the cryptocurrency yourself, most exchanges allow you to transfer it to your “hot” or “cold” wallet, along with the private keys for that cryptocurrency.
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What Is the Safest Crypto Exchange?
When buying and selling crypto, standard safety features like two-factor authentication should be the baseline. More robust measures, like identity verification, SOC-2 certification, and user insurance, add further protection against theft and fraud. We like Gemini as an exchange with enhanced safety and security measures.
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How Do Cryptocurrency Exchanges Make Money?
All cryptocurrency exchanges charge some type of transaction fee that investors will need to pay to trade with their exchange. These fees differ depending on many factors, such as the exchange, the cryptocurrency being traded, and the tiered level of the investors themselves.
The most common fees crypto investors should expect are:
- Tired-level fees: Tier levels are calculated by how much investors deposit, withdraw, or trade cryptocurrency. Depending on the volume they handle will determine the fee the investor will pay. Generally, the higher the volume, the lower the fees.
- Maker fees: A maker fee is a cost to the trader when a limit order is placed but is not immediately executed. Makers are often rewarded with lower fees and may receive rebates for adding liquidity to a cryptocurrency order.
- Taker fees: A taker fee is collected on orders that are executed immediately (i.e., they 'take' liquidity from the market). Because takers are decreasing the liquidity of a cryptocurrency, they are often charged higher fees.
- Fund transfer fees: Cryptocurrency exchanges offer many ways for investors to purchase cryptocurrency. The most common way is by linking a bank account and funding your account that way. However, a less common way is that some exchanges allow credit or debit card purchases. Regardless of how you purchase cryptocurrency, a fee will be attached to that method.
- Tired-level fees: Tier levels are calculated by how much investors deposit, withdraw, or trade cryptocurrency. Depending on the volume they handle will determine the fee the investor will pay. Generally, the higher the volume, the lower the fees.
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What Is the Easiest Crypto Exchange To Use?
Investors interested in cryptocurrency, regardless of their experience level, will want an exchange that isn’t overly complicated. With the fall of FTX, the SEC lawsuit against Binance, and other ongoing regulatory issues within the cryptocurrency industry, the last thing investors need is a crypto exchange that is difficult and confusing to operate.
Coinbase is our choice for the best cryptocurrency exchange for beginners. The site offers an appealing user experience and is easy to navigate on the desktop and mobile app, which investors will appreciate. It offers a large number of supported cryptocurrencies, strong security, and advanced trading capabilities, all on an easy-to-use platform. The exchange is also more than adequate for sophisticated investors who require advanced features, such as a robust number of supported crypto assets and the option to utilize a non-custodial wallet.
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Are Cryptocurrency Exchanges Regulated?
The Securities and Exchange Commission (SEC) oversees and regulates cryptocurrency exchanges. Since the collapse of FTX in 2022, the SEC has taken a hard stance against Cryptocurrency exchanges to prevent fraud and other security violations. Many cryptocurrency exchanges have already faced numerous regulatory issues surrounding the industry.
For instance, Binance, one of the largest exchanges in the crypto sector, is actively facing a lawsuit filed by the SEC for violating many security laws within the United States. Regulatory investigations by the SEC can cause many issues for investors with their respective cryptocurrency exchanges, such as account freezes and the inability to trade with the company.
It’s important to note that investors should conduct their due diligence in choosing a crypto exchange to ensure they are compliant with government regulations.
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What Is Staking?
Staking is an arrangement in which participants in a blockchain earn more cryptocurrency by lending a specified amount of cryptocurrency to that blockchain network for a preset period of time, for a predetermined reward–like interest on a bank account. The lenders also must then validate data and transactions for the blockchain. Lenders whose validations turn out to be fraudulent or even just wrong forfeit some (or all) of their stake.
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Companies We Reviewed
We researched and reviewed several crypto exchanges to find the best platforms you see listed above. While we write individual reviews for most companies, we do not always write reviews for companies we would not recommend. Below are the companies we researched, along with links to individual company reviews to help you learn more before making a decision:
Bitrue, Coinbase, CEX.IO, Bittrex, CoinZoom, Huobi Global, bitFlyer, BitMEX, itBit, Bitfinex, eToro Crypto, Uphold, Deribit, OKX, Bitstamp, KuCoin, Poloniex, Binance, Coinmama
How We Picked the Best Cryptocurrency Exchanges and Apps
Our team reviewed 28 cryptocurrency exchanges and collected over 1000 data points before selecting our top choices. The top picks were selected based on more than 20 weighted criteria, including trading fees (weighted 20%), withdrawal fees (15%), and whether an exchange offers cold storage of crypto assets (weighted 10%). For further information about our selection criteria and process, our complete methodology is available.
Guide to Crypto Exchanges and Apps
Learn more about crypto exchanges and apps:
- What is Crypto Insurance?
- How to Buy and Sell Bitcoin Options
- How to Create a Crypto Wallet
- How to Invest in Crypto Without Buying Crypto
- Cryptocurrency IRAs: Advantages and Disadvantages
- How to Pay With Cryptocurrency
- How to Buy Metaverse Crypto
- How to Store Cryptocurrency
- What Charts Should Crypto Investors Use?