The 6 best cryptocurrency exchanges for trading bitcoin and other assets

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Insider’s specialists select the best merchandise and companies to assist make good choices together with your cash (here’s how). In some instances, we obtain a fee from our our partners, nonetheless, our opinions are our personal. Terms apply to presents listed on this web page.

Understanding cryptocurrencies alone may be daunting, and for those who’re new to crypto trading, discovering the fitting platform to purchase and promote standard assets like bitcoin, ethereum, and dogecoin may be one other problem. Plus, for those who do not wish to use your change’s built-in pockets (if relevant), you will must arrange an exterior crypto wallet to retailer your assets securely.

Most crypto exchanges additionally provide staking rewards (for holding a crypto asset for a set time frame), margin trading, and institutional companies. Plus, you will discover that many platforms provide crypto-backed loans and cost perks (e.g., the Coinbase debit card provides customers as much as 4% again on purchases). We’ve compiled a number of the best cryptocurrency exchanges for shopping for and promoting crypto assets. Keep studying to seek out the best possibility for you.

Best for bitcoin-oriented merchants: Coinbase

Best for low charges: Abra

Best for futures and margin merchants: Kraken

Best cryptocurrency choice: CEX.IO

Best for bitcoin and ethereum merchants: Gemini

Best for all kinds of merchants: eToro USA

Compare the best cryptocurrency exchanges for trading bitcoin and other assets

Coinbase (jump to Coinbase details »)

Why it stands out: Coinbase presents greater than 170 cryptocurrencies, together with bitcoin, ethereum, litecoin, dogecoin, and ripple. The change additionally presents a number of funding choices for particular person and institutional purchasers. Some of its account options embody staking rewards, iOS and Android cellular apps, and a Coinbase studying rewards account possibility that pays you in crypto assets for watching academic movies.

Coinbase additionally presents a couple of other choices: Coinbase Pro and Coinbase Advanced Trade for skilled merchants and Coinbase Prime for establishments and high-net-worth purchasers (people with not less than $1 million). Coinbase Pro customers get entry to extra superior options like safe trading bots, charting instruments, and real-time order books. Coinbase Advanced Trade basically enhances the choices of Coinbase Pro, giving customers entry to crypto rewards and further instruments and safety features.

In addition to the Prime cryptocurrency trading platform, institutional purchasers can make the most of commerce companies, chilly storage (offline storage for crypto assets), and an Asset Hub that permits issuers to checklist and develop their merchandise on the platform.

Plus, Coinbase additionally launched the beta model of its NFT trading platform. For a restricted time, it is providing no transaction charges for creators and collectors who use the platform. Many NFT platforms cost 2.5% per transaction, so Coinbase’s choices are extremely aggressive relating to pricing (see more about its NFT platform here).

Read our Coinbase review to study extra.

What to look out for: If you recurrently use margin accounts to commerce, Coinbase is not the best selection. The change does not allow you to quickly borrow cash to commerce crypto assets, nor does it provide futures (authorized contracts that provide the option to change a safety at a selected value on a forthcoming date).

Abra (jump to Abra details »)

Why it stands out: Abra is a worldwide crypto change serving particular person and institutional merchants in additional than 150 international locations. Along with the truth that Abra does not cost any trading charges (although it earns revenue from the unfold between totally different assets), the change additionally stands out as a consequence of its expansive number of crypto merchandise and options.

This contains trading for 75 cryptocurrencies, curiosity accounts that allow you to earn as much as 10% on eligible assets, crypto-backed loans, over-the-counter (OTC) trading, and a number of academic guides for newbies. Its OTC companies additionally give institutional purchasers entry to interest-earning accounts, loans, and one-on-one account assist.

In addition, Abra pays you 3% money again for CPRX token trades, and the change presents 0% curiosity loans.

Abra is offered on iOS and Android telephones.

Read our Abra review for extra information.

What to look out for: Visa and Mastercard transactions have excessive charges.

Kraken (jump to Kraken details »)

Why it stands out: Kraken has 185+ cryptocurrencies with an array of choices each for retail buyers and institutional buyers. But relating to world assist, Kraken has a bit extra attain than Binance.US. The change presently helps merchants in practically 200 international locations.

Kraken additionally presents margin trading and futures trading. With its margin accounts, you possibly can borrow as much as 5 occasions your account steadiness to commerce crypto assets. Futures trading — contracts which let you purchase or promote an asset at a set value on an upcoming date — is offered for bitcoin, ethereum, litecoin, bitcoin money, and ripple.

The change additionally presents its personal futures trading platforms. But institutional purchasers can make the most of skilled insights, one-on-one consultations, account administration assist, and extra.

All purchasers can make the most of Kraken’s staking rewards, iOS and Android cellular app entry, and academic sources.

Check out our Kraken review to study extra.

What to look out for: Kraken’s futures cellular platform is not presently obtainable to US merchants. In addition, solely institutional and high-net-worth purchasers can make the most of the change’s session and account administration companies. 

CEX.IO (jump to CEX.IO details »)

Why it stands out: Based in London, CEX.IO is a worldwide crypto change supporting merchants in additional than 99% of nations worldwide, together with 48 US states, in accordance with its web site. The change additionally provides you entry to bitcoin and greater than 100 other crypto assets.

All customers can entry CEX.IO’s prompt purchase characteristic (that is solely for credit score and debit card purchases), cellular app, staking rewards, and crypto-backed loans. But extra superior merchants may choose CEX.IO’s spot trading characteristic (this selection permits you to place various kinds of crypto market orders) and margin trading accounts. Institutions and companies can use its aggregator and cost administration companies. 

It’s additionally vital to level out CEX.IO’s price schedule. The change has a maker/taker schedule that is based mostly in your 30-day trading quantity. Maker orders cannot be executed instantly since there aren’t any other orders to match with them; nonetheless, taker orders match instantly, in accordance with CEX.IO.

Its maker charges vary from 0.00-0.15%, and its taker charges span from 0.01-0.25%. You may also entry CEX.IO on iOS or Android gadgets.

You’ll discover extra particulars in our review of CEX.IO.

What to look out for: Transactions with debit or bank cards may be dear at CEX.IO. For Visa and Mastercard deposits, you will be need to pay a 2.99% price (it solely requires 1.49% for GBP deposits with UK-issued playing cards). Withdrawals for US residents utilizing a Visa card embody a service cost as much as 3% plus an extra $1.20 and fee as much as $3.80. Mastercard customers can anticipate a service cost as much as 1.8% plus an extra $1.20. There’s additionally a fee as much as 1.2% plus $3.80.

Gemini (jump to Gemini details »)

Why it stands out: Gemini presents all kinds of crypto trading companies for people and establishments. Traders can make the most of a number of platforms, together with the Gemini internet change, Gemini iOS and Android cellular apps, Gemini Active Trader platform, Gemini Fund Solutions, and institutional trading instruments.

But the change additionally supplies a couple of other notable options: Gemini Wallet, Gemini Earn, Gemini Clearing (brokerage companies for off-exchange crypto trades between events), Gemini Custody, Gemini Pay, and Gemini Dollar (a digital asset backed by US {dollars}).

Though Gemini is not strictly a private pockets service, its two storage and custody choices — Gemini Wallet and Gemini Custody — provide the selection of on-line storage or institutional offline storage for your crypto assets. Gemini custody additionally presents $200 million in chilly storage insurance coverage protection.

Gemini Earn provides you the choice to obtain as much as 8.05% curiosity in your crypto steadiness, whereas Gemini Pay provides you the choice to make use of your assets for purchases at greater than 30,000 retail services throughout the US.

Learn extra by studying our Gemini review.

What to look out for: Gemini has a number of price schedules for totally different accounts and account actions. While you will not be charged for transferring funds by way of ACH or wire strategies, credit score or debit card transfers have a 3.49% price. The change additionally has a restricted variety of cryptocurrencies (see its full list of supported assets here).

eToro USA (jump to eToro USA details »)

The eToro USA crypto change presents a extremely safe and simply navigable interface that provides you entry to greater than 25 crypto assets. The change additionally helps merchants in 140 international locations, and you will want not less than $10 to commerce. 

When it involves trading, you possibly can both take the DIY strategy, or you possibly can make the most of considered one of of eToro’s two hands-off choices. The first, generally known as the CopyTrader system, lets you mirror the portfolios of other profitable merchants. US purchasers can presently solely mimic other US buyers’ portfolios, and you will want not less than $200 to take action.

The second possibility is SmartPortfolios. The change presently presents entry to 4 totally different pre-built portfolios — CryptoEqual, CryptoPortfolio, Crypto-currency, and TheTIE-LongOnly SmartPortfolio — that eToro recurrently rebalances for you.

Finally, eToro presents one thing that many crypto exchanges do not — inventory and ETF trading. As of January 2022, customers can change each full and fractional shares of shares and ETFs with out commissions. 

To study extra, learn our eToro USA review.

What to look out for:  eToro does not presently assist merchants in New York, Minnesota, Nevada, Puerto Rico, Tennessee, Hawaii, Guam, American Samoa, Northern Marianas, and the US Virgin Islands.

Other platforms we thought-about

  • Binance.US: Binance.US helps greater than 125 cryptocurrencies and presents funding choices for each people and establishments. Its account perks additionally embody staking rewards, recurring buys, OTC trading, crypto trading pairs, and stablecoins (assets which can be backed by US {dollars}). But it might not be the best selection for newbie merchants since its academic choices are restricted.
  • Bitstamp: Bitstamp is a Luxembourg-based firm providing greater than 60 cryptocurrencies, with choices for superior merchants and institutional merchants. US purchasers can commerce crypto assets by way of its subsidiary, Bitstamp USA. The lowest charges begin at 0.5%, and you will want not less than $10 to commerce.
  • SoFi: SoFi is extra of an internet brokerage than a cryptocurrency change, and it presently presents 30 crypto assets. The funding app additionally prices a 1.25% markup on all crypto transactions, that means you will obtain an extra 1.25% on the ultimate value of your share(s). One of the downsides is that SoFi’s crypto choices are restricted in comparison with other main exchanges, and its charges are a bit increased than other crypto platforms.
  • Bittrex: When it involves account safety, Bittrex is tough to beat. In addition to two-factor authentication, the change says it makes use of a multi-stage pockets technique to ensure funds are saved in safe, chilly storage (offline storage). Bittrex’s transaction charges are additionally notably decrease in comparison with other exchanges. Keep in thoughts, although, that Bittrex is not obtainable for residents of New York, Connecticut, Vermont, or Hawaii.
  • Webull: This on-line brokerage solely requires $1 to begin trading crypto, however its funding choice is proscribed. Webull might not be the best crypto possibility if you wish to commerce assets other than bitcoin, dogecoin, bitcoin money, ethereum, litecoin, zcash, or stellar.
  • Robinhood: This brokerage’s commission-free construction has fairly the attraction for those that choose low-cost investments. Plus, whereas Robinhood Gold members can earn 3% curiosity on their brokerage money, non-Gold members can nonetheless earn 1.5%. But like SoFi and Webull, Robinhood’s cryptocurrency choice is on the shorter aspect. The funding app solely presents 17 cryptocurrencies, together with bitcoin, bitcoin money, bitcoin sv, ethereum, dogecoin, and others. 

How we decided the winners

We researched over a dozen exchanges to seek out the best choices for cryptocurrency availability, low charges, asset/account safety, consumer interfaces, and cellular entry.

We additionally explored whether or not exchanges supplied companies each for people and establishments, and we paid shut consideration to other account choices like staking rewards, margin trading, and Stablecoin assist.

Frequently requested questions

Why belief us?

At Personal Finance Insider, we purpose to assist good folks make the wisest choices with their cash. We additionally know that the phrase “best” is usually subjective, so we make certain to spotlight each the advantages and drawbacks of crypto exchanges.

We spent hours evaluating and contrasting the options and product choices of varied crypto exchanges so you do not have to.

What is a cryptocurrency change?

A cryptocurrency change is like an internet brokerage for cryptocurrencies, tokens (digital assets created by way of current blockchains), and other digital assets. Many of those exchanges provide funding choices for energetic merchants seeking to purchase, promote, or maintain digital assets like bitcoin, ethereum, and litecoin. 

Most exchanges additionally provide custody and storage choices for customers seeking to safely shield their crypto assets in opposition to theft and hacks. But then once more, most exchanges aren’t solely private pockets companies. If you wish to arrange an exterior pockets with a bitcoin wallet supplier or one other storage pockets service, you are able to do so whereas sustaining your crypto change account.You can merely switch assets between your change account and crypto wallet when essential.

Are cryptocurrency exchanges value it?

This is determined by your funding objectives and wants. You can spend money on cryptocurrencies in a couple of place. For occasion, each PayPal and SoFi aren’t strictly crypto-focused corporations, however each provide digital assets. 

And for those who’re curious about low-cost choices, word that you would be able to additionally commerce cryptocurrencies with fee-free brokerages like Webull and Robinhood. The catch with taking this route is that you simply will not have as many crypto-specific options as you’d with a Kraken or Gemini. 

You would basically sacrifice a wider vary of investments and account options for decrease charges and restricted cryptocurrency choices. If you are trying for a wider vary of crypto-specific trading instruments and account options, a cryptocurrency change could be the best possibility.

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