Searching for the optimal cryptocurrency exchange? The purpose of our review is to assist you in selecting the most suitable cryptocurrency exchange for your specific requirements.
It is essential to identify the most suitable cryptocurrency exchange for your individual requirements before purchasing cryptocurrencies. There is a wide range of options available, each with different deposit and withdrawal costs, identity verification criteria, and user experiences. Presented below are the leading cryptocurrency exchanges that we highly recommend. You may explore our comprehensive reviews of these exchanges. For both seasoned traders and those new to purchasing cryptocurrency, we are confident that you will discover a cryptocurrency exchange that caters to all of your digital asset requirements.
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A Quick Summary of the Best Crypto Exchanges
Check out these popular cryptocurrency exchanges and how they compare with each other based on attributes such as fees, customer service, and special features. The best crypto exchange for you may not be the ideal exchange for a more experienced trader, it all depends on your specific needs. Listed below are some of the top crypto exchanges:
Top Crypto Exchange Platform
Cryptocurrency Supported
Trading Fees
Special Features
200+
Spread (Instant)
0.25% (Spot Markets)
Staking and highest security of any exchange
Best Bitcoin & Cryptocurrency Exchanges
- Exceptionally secure exchange with proof of reserves
- Supports many different funding options
- Accepts users from across the globe including USA and Canada
- Very high trading volume
- The ultimate anything-to-anything exchange with support for foreign currencies, crypto, precious metals and more
- Easy sign-up process with streamlined UI
- Remarkably secure with proof of assets feature
- Available to people in over 150 different countries
- Beginner-friendly UI make it easy to make quick buys
- One of the oldest and most reliable exchanges
- Earn $200 in free crypto after completing sign-up process. Terms apply.
- Variety of products including exchange, staking, wallet
- Advanced Trading options for experienced traders
- Easy sign-up process
- Lowest transaction fees of any major exchange
- 175+ different digital assets available
- Free deposits
- Security and crypto tokens
- Highly regulated platform
- INX Token gives trading discounts
- Invest in security tokens before the secondary market
- Free copy trading for users with up to 8% commission for trader who creates strategy
- Wide selection of small market cap tokens
- Low fees across all aspects of the platform
- 24-hour customer support
- A trusted, and secure cryptocurrency exchange
- Gemini is a New York trust company regulated by the New York State Department of Financial Services (NYSDFS).
- Gemini Derivatives offers customers a trusted venue to trade derivatives.
- The world’s first SOC 1 Type 2 and SOC 2 Type 2 certified crypto exchange and custodian
- Multiple product offerings: The Gemini Credit Card®, Gemini Staking*, Gemini ActiveTrader, Gemini Derivatives**
- One of the longest-standing Bitcoin exchanges
- Serves over 3 million customers globally
- Regulated in the EU and USA
- Easy to understand for new users with iOS and Android apps
- Trustworthy reputation
- Best exchange in Europe
- Variety of different crypto tokens available or trade
- User friendly platform
- Trade with leverage up to 500x
- Buy, sell, and trade crypto and tokenized assets like ETFs, stocks, and commodities
- Trading fees for spot and leverage trading are competitive
- One-stop shop for crypto with built-in exchange, app, lending platform, debit card and more
- Native CRO token gives users a huge variety of perks and can be staked for over 10% APY
- Potential for earning high amount of interest when storing digital assets on Crypto.com
- A long-term goal of building cryptocurrency adoption on whole
- International exchange with hundreds of different cryptos
- Extremely simple sign-up process
- Very high level of security
- Users can invest in the success of KuCoin through KuCoin Shares
- Extremely low fees
- No sign-up required for non-credit card transactions
- Over 150 cryptocurrencies offered including BTC, ETH, LTC
- Sends crypto directly to your wallet instead of holding it
- Buy fractional stocks, ETFs, Treasury Bills, alternative assets, and crypto
- Premium gives you advanced data, unique market metrics, and analyst insights for $10 a month
- No commissions and fees for stocks and ETF purchases during market hours
- One of the most user-friendly exchanges
- Licensed as an official Money Service Business in Canada
- Incredibly fast with purchases taking minutes rather than hours
- All assets on Shakepay are stored offline
- Bills itself as the “No-Fee Cryptocurrency Exchange”
- Partnership with Plaid gives high-level of security
- Excellent on-ramp for Canadian cryptocurrency users
- Offers cryptocurrencies that are sometimes hard to find in Canada
- Easy to use
- Massive selection of cryptos with 300+ trading pairs
- No registration required
- Excellent support program with 24/7 live chat
- Easy sign up
- Mobile app
- Great loyalty program that utilizes Beaxy Coin
- Good exchange for using fiat to buy crypto
- Exchange over 250+ cryptos and 50+ fiat options with no registration
- Get a physical or virtual crypto card to spend crypto globally
- Multiple funding options available for deposits and withdrawals
- Solid platform for experienced traders looking to put in large amounts of volume
- Competitive fees compared to other exchanges
- Headquartered in Hong Kong
- Huge selection of cryptocurrencies
- Very low fees
- Heavy volume
- Works closely with regulators to remain compliant with all laws
- Different interfaces for beginners and advanced traders
- Highest trading volume for BTC/JPY trading pair
- Supports a variety of fiat currencies
- Derivatives trading available
- Demo account can be used before trading real money
- Free deposits and withdrawals
- 16 automated trading bots available for free
- Large selection of trading pairs and assets
- Pionex is one of the biggest market makers for Binance and Huobi
- Solid on-boarding option for new crypto users
- Top 50 exchange with significant trading volume
- Competitive fee structure
- Simple, easy-to-use interface with mobile app
- Participate in DeFi on YoBit with YoFarms
- Automate your trades to make money while sleeping with RoboTrade
- Swap between an enormous selection of trading pairs
- Comprehensive crypto platform with lending, exchange and more
- Focused on institutions and high-net worth individuals
- Large suite of cryptocurrency trading tools
- VC backing from some of the world’s biggest funds
What is a Crypto Exchange?
Cryptocurrency exchanges are similar to the ones available for traditional fiat currencies like USD, EUR or CAD. You simply add funds to your exchange account, and then you can swap that currency for a different one. Many people make their first deposits on cryptocurrency exchanges with a fiat currency and then trade it for a cryptocurrency like Bitcoin.
Once you’ve acquired a cryptocurrency, you can also trade it for a different cryptocurrency. So you can trade your Bitcoin for Ethereum or your Ethereum for Litecoin or Polkadot. There are literally thousands of different trading pairs available on different cryptocurrency exchanges around the world.
Your cryptocurrency account can be funded through your bank using ACH in the USA or SEPA in Europe. Most of the better crypto exchanges also offer you the ability to buy the top cryptocurrencies directly with your credit or debit card.
Once you purchase a cryptocurrency on the exchange, you may want to transfer it to a secure wallet that you control. If you decide to leave your digital currency on the trading platform, then you are free to engage in cryptocurrency trading. Top cryptocurrency exchanges offer competitive trading fees, have high trading volumes, easy to use trading platforms and top-quality customer support.
Most people use cryptocurrency exchanges for three distinct reasons:
➡️ To buy cryptocurrency like Bitcoin or Ethereum
➡️ To sell cryptocurrency for fiat currency like USD or EUR
➡️ To trade one cryptocurrency for a different one
A Checklist of What to Look for in a Good Crypto Exchange
We’d argue that security is easily the most important factor for a crypto exchange because if you can’t trust an exchange with your coins, then every other feature of the service is essentially pointless.
Other than security, there are some features that you should look for in a good crypto exchange. When you’re exploring your options, use our handy checklist before deciding:
✔️ Security Features
Cold Storage and Management of Customer Funds
The best exchanges will store over 90% of customer assets in cold storage, where they can’t be accessed in the case of a security breach. Likewise, the best crypto exchanges never lend out customer funds and shouldn’t even consider doing so.
Proof of Reserves
The best exchanges provide a clear proof of reserves page where users can verify the assets held for themselves and by the exchange. They should be audited as well.
Licenses
Perhaps the most obvious security feature of an exchange is having the proper regulatory licenses. Make sure an exchange is licensed for operation in your jurisdiction.
Extra Security Layers
Top crypto exchanges offer extra layers of security for your account such as two-factor authentication (2FA) or SMS code requirements for withdrawals.
✔️ Customer Support
It’s especially important to have good customer service and support when you’re just getting started with crypto. Good customer support will help you with your crypto questions and issues.
✔️ Available Cryptocurrencies
Bitcoin and Ethereum are available on nearly every exchange, but there are thousands of different coins that might be of interest to you. Make sure the exchange you’re interested in offers the digital assets that you’d like to trade.
✔️ Fees
Crypto exchange fees are extremely important to high-volume traders because it cuts into their bottom line. If you’re new to crypto, then paying a 2% fee on your initial purchase isn’t the end of the world. But if you intend to make lots of trades, you should probably find a low-fee exchange.
✔️ Payment Methods
You’ll likely want to use a debit card, bank transfer, wire transfer, or credit card to fund your account. Some exchanges offer limited payment methods, however. Make sure the crypto exchange you’re signing up for offers the payment method of your choice. The best crypto exchange might not be the best for you if you can’t make a deposit.
Kraken is renowned for providing Proof of Reserves. Credit: Kraken
Insider Tips: Reasons Why You Should Use a Crypto Exchange
There are other ways to buy cryptocurrencies, including peer-to-peer trading and ATMs, but exchanges are the easiest way to trade fiat currencies for cryptocurrencies or to simply purchase cryptocurrency from the comfort of your home. With an exchange, you do not have to meet up with someone in person to buy cryptocurrency, and the fees are typically much lower than with Bitcoin ATMs.
The best crypto exchange for you depends on your needs. If you are exchanging Bitcoin for USD or CAD, you may need a cryptocurrency exchange that offers competitive rates for transferring fiat currencies to your bank account. If you are planning on cryptocurrency trading or simply are interested in diversifying your portfolio with a few different digital assets, then you will want to peruse our crypto exchange reviews for the top crypto exchange in terms of trading fees, volumes, and transaction fees.
Conversely, there are a few interesting reasons why you may choose to store assets on the exchange instead of transferring them to a wallet:
Staking
Many exchanges offer both liquid and locked staking options through their exchange. Locked staking means you have no access to those assets for the staking period and earn interest on that amount, while liquid staking means you have the flexibility of taking the assets when you want and interest is often added daily.
Events
Some exchanges offer trading competitions with rewards, where the top volume traders for an asset have a chance to win crypto or even physical prizes such as cars or electronics. Some of the top exchanges have gotten very creative with their events.
Convenience
While storing your assets on the exchange does come with the risk of exposing your assets, having them readily accessible to be traded for other cryptocurrencies or exchanged for fiat currencies is very convenient. Plus, each transaction you make sending to and from an exchange incurs a network fee. If you are likely to trade an asset, it makes more sense to leave it on the exchange. This enables you to save on fees and increase your total income.
In addition, some users may not trust themselves to secure their own crypto. While crypto is all about self-sovereignty, there’s nothing inherently wrong with using a highly trusted exchange for custodial services.
Do All Exchanges Accept Credit Card or Bank Transfer?
Short answer: no. Not all cryptocurrency exchanges accept credit card and bank transfer deposits, and some only support these methods through specific financial institutions, such as SEPA. Some cryptocurrency exchanges exist only for trading cryptocurrency, and therefore only accept deposits and withdrawals in cryptocurrency.
We would advise you choose a crypto exchange from our selection and checkout our reviews of them. Choose an exchange where you’ll be able to buy and sell cryptocurrency with fiat currencies such as USD, EUR, GBP, or CAD. Each cryptocurrency exchange will offer different fees for the varying deposit and withdrawal methods that they accept. So think about how you want to fund your account and whether you’re planning on trading or holding your digital currency. Once you have determined that, you can look through our crypto exchange reviews for the one that will make your funds go the farthest.
An example of a crypto exchange dashboard. Credit: Coinbase.
Now That You Just Bought Crypto - Here Are Your Next Steps
The crypto you bought is now on the cryptocurrency exchange and is stored in your exchange wallet. This is considered a noncustodial wallet, meaning you do not have complete control over your crypto assets stored in your wallet, the exchange does. Since exchanges deal with massive volumes of money and store large quantities of assets at many wallet addresses, they are extremely tempting targets for hackers. The best crypto exchanges cycle assets to cold storage to reduce their exposure in the rare event of a hack.
Need some advice? Here’s a look at the top 5 safest crypto exchanges we recommend.
💡 Top tip from us: The safest thing you can do with your cryptocurrency is to store it in a software or hardware wallet to which you hold the private keys.
- Software wallets are often free and are certainly a step-up in security compared to keeping them on the exchange.
- Hardware wallets such as the Ledger Nano Xor Trezor Model T are some of the best ways to store your assets in cold storage, meaning your crypto assets are offline, with no connection to the internet, making it extremely low risk of being hacked.
Take a look at some of the best cryptocurrency wallets on the market today.
Once you’ve secured your crypto, there are loads of different things you can do with it, including the following:
👉 Send it to friends and family or clients
👉 Stake it to earn a passive yield
👉 Trade crypto with the goal of earning a profit
👉 Simply hold it until it’s (hopefully) worth more
An example of a cryptocurrency hardware wallet.
Why Do People Store Crypto on Exchanges?
There are a few interesting reasons why you may choose to store assets on the exchange instead of transferring them to a wallet:
Staking
Many exchanges offer both hard and soft staking options through their exchange. Hard staking means you have no access to those assets for the staking period and earn interest on that amount, while soft staking means you have the flexibility of taking the assets when you want and interest is often added daily. Top crypto exchanges such as KuCoin, Coinbase, and Binance offer both these options.
Events
Some exchanges offer trading competitions with rewards, where the top volume traders for an asset have a chance to win crypto or even physical prizes such as cars or electronics. Some of the top exchanges have gotten very creative with their events.
Crypto.com Exchange has an event which they call The Syndicate. Staking a minimum of 10,000 of their native token, CRO, for 180 days, gives users access to these events. During this 24 hour Syndicate, users can purchase a cryptocurrency offered at that Syndicate discounted. This discount can be anywhere from 25%-50% off the market price. Once the event has ended, users receive their discounted digital assets. Having these events has pushed CRO to the borderline of being a top 10 asset.
Convenience
While storing your assets on the exchange does come with the risk of exposing your assets, having them readily accessible to be traded for other cryptocurrencies or exchanged for fiat currencies is very convenient. Plus, each transaction you make sending to and from an exchange incurs a network fee. If you are likely to trade an asset, it makes more sense to leave it on the exchange. This enables you to save on fees and increase your total income.
In addition, some users may not trust themselves to secure their own crypto. While crypto is all about self-sovereignty, there’s nothing inherently wrong with using a highly trusted exchange for custodial services.
Need Help Comparing Different Crypto Exchanges? Have a Look at Our Reviews
- Coinbase vs. Robinhood
- Kraken vs. Coinbase
- Binance vs. Coinbase
- Binance vs. Kraken
- KuCoin vs. Binance
- Shakepay vs. Coinberry
- Gemini vs. Coinbase
- Coinbase vs. Coinbase Pro
- Bittrex vs. Binance
- Bitstamp vs. Coinbase
- Bitfinex vs. Kraken
- Bitbuy vs. Coinbase
- Coinbase vs. Cash App
- eToro vs. Coinbase
- Shakepay vs. Bitbuy
- Kraken vs. Gemini
FAQ
Not all cryptocurrency exchanges accept credit card and bank transfer deposits, and some only support these methods through specific financial institutions such as SEPA. Some cryptocurrency exchanges exist only for trading cryptocurrency and therefore only accept deposits and withdrawals in cryptocurrency.
It is a good idea to pick a top crypto exchange from our crypto exchange reviews that allows you to buy and sell cryptocurrency with fiat currencies such as USD, EUR, GBP, or CAD. Each cryptocurrency exchange will offer different fees for the varying deposit and withdrawal methods that they accept, so we recommend figuring out how you would like to fund your account and whether you are planning on trading or holding your digital currency. Once you have determined that, you can look through our crypto exchange reviews for the exchange that will make your funds go the farthest.
Coinbase is likely the best crypto exchange option for nearly every user. It is a publicly traded company with licenses for just about everywhere, in addition to having staking and other useful features. Trading on Coinbase is best done through their Advanced View to save fees.
The crypto exchange with the lowest fees is Binance, which starts at 0.1% and goes down from there.
With exchanges you put your trust in the people holding your coins.
With a cold wallet you trust yourself to hold your coins. If you don’t feel comfortable or have the technical savvy to set up a wallet then you might want to take a look highly trusted exchanges.
Kraken is our pick as the safest crypto exchange, but we have a list of the top 5 here. Gemini is perhaps the most secure exchange but it has less features and asset selection. than Kraken.
There are centralized exchanges (CEX), which are exchanges controlled by a central entity or company such as Coinbase. There are also decentralized exchanges (DEX), which are controlled by users and code. Finally, there are hybrid exchanges that merge some of the features of both centralized and decentralized exchanges.
