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The top cryptocurrency exchanges allow you to buy, sell, and trade popular cryptocurrencies, NFTs, and other digital coins and tokens. However, only experienced, hands-on traders with knowledge of blockchain trading should use crypto exchanges.
Best Crypto Exchanges for 2024
- Coinbase: Best cryptocurrency selection
- Crypto.com: Best for mobile trading
- Abra: Best for institutional and private wealth management
- Kraken: Best security
- Cash App Investing: Best for Bitcoin
Compare the Best Cryptocurrency Exchanges
The best cryptocurrency exchanges work similarly to the best stock trading apps, offering competitive fees and resources on digital marketplaces like mobile or desktop. Crypto enthusiasts can easily buy, sell, and store popular digital currencies like bitcoin or Ethereum alongside traditional investable securities.
Note that 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, such as one of the best bitcoin wallets, to store your assets securely.
Here are the top cryptocurrency exchanges for low fees and human advisor access as chosen by Business Insider editors in 2024.
Coinbase
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.35/5
Fees
0.50% spread for buy/sell transactions; transaction fee from $0.99 to $2.99; up to 0.60% for Coinbase Pro and Coinbase Advanced Trade
Pros
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Buy, sell, or store more than 170 cryptocurrencies like bitcoin and dogecoin
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Educational investment resources, mobile access, digital storage, and customer support
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low account minimums
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Can earn rewards for certain cryptocurrencies
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Coinbase card lets you spend crypto or USD anywhere and earn crypto rewards; can deposit your paycheck into your account and convert from USD to crypto with no fees
Cons
- con icon Two crossed lines that form an ‘X’. Pay more for lower balances
- con icon Two crossed lines that form an ‘X’. High trading and transaction fees
- con icon Two crossed lines that form an ‘X’. Limited staking options
Product Details
- Promotion: Get $5 of bitcoin when you join Coinbase; earn up to $200 when you set up a new account and make your first purchase
- Features: Coinbase Earn rewards, Coinbase Pro advanced account, user-controlled storage, stablecoins, staking, and institutional trading tools.
- App store rating: 4.7 iOS/ 4.1 Android; Coinbase Pro: 4.7 iOS/ 4.1 Android
- Awards: Named Best Prime Broker in Hedgeweek’s annual European Digital Assets Awards
Crypto.com
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.35/5
Fees
Maker fees 0.0750% – 0% and taker fees are 0.0750% – 0.0500%; 0% credit/debit card purchases for first 30 days of opening account
Pros
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. 350+ cryptocurrencies; support for more than 20 fiat currencies
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Separate NFT platform
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Earn up to 5% cash back on purchases with Crypto.com Visa Card
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. You can set up price alerts and price movement alerts to stay updated on more than 250 assets
Cons
- con icon Two crossed lines that form an ‘X’. Crypto.com Exchange isn’t available to U.S. residents; U.S. investors limited to the mobile app
- con icon Two crossed lines that form an ‘X’. Crypto.com isn’t available to residents of New York
- con icon Two crossed lines that form an ‘X’. High credit and debit card transaction fees
Product Details
- Promotion: Get up to $2,000 for every friend you refer and 50% of their trading fees.
Best for institutional and private wealth management
Abra
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.17/5
Fees
Varies by services and account balance
Pros
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Private client and family office wealth services
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Institutional crypto trading solutions
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Staking reward features
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. OTC trading strategies
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Treasury services
Cons
- con icon Two crossed lines that form an ‘X’. App and retail services are no longer available in the US and UK
- con icon Two crossed lines that form an ‘X’. High minimum to unlock premium features
Product Details
- Features: 100+ cryptocurrencies, crypto-backed loans, staking, and support for traders in 150+ countries.
- App store rating: 4.6 Apple/4.3 Android
Best for futures and margin traders
Kraken
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.57/5
Fees
1/5%; 0% – 0.40% maker/taker fees
Pros
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Can exchange 200+ crypto assets
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Margin trading available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Variety of educational resources and tutorials on cryptocurrencies
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Over-the-counter (OTC) trading and account management support available
Cons
- con icon Two crossed lines that form an ‘X’. Kraken’s futures and staking isn’t currently available in the US
- con icon Two crossed lines that form an ‘X’. Not available to residents of New York and Washington
Product Details
- Features: More than 100 cryptocurrencies, margin and futures trading, OTC trading, account management for HNW individuals and institutional clients, multiple trading platforms, and educational resources.
- App store rating: 4.7 iOS/ 4.2 Android
Cash App Investing
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.99/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks
Account Minimum
$0 ($1 for access to fractional shares)
Pros
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Banking and investing on one platform
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Commission-free trading of stock and ETFs
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Gift stocks to friends and family
Cons
- con icon Two crossed lines that form an ‘X’. Doesn’t offer IRAs, custodial accounts, or margin trading
- con icon Two crossed lines that form an ‘X’. Limited resources and tools
- con icon Two crossed lines that form an ‘X’. Doesn’t offer cryptocurrencies other than bitcoin
- con icon Two crossed lines that form an ‘X’. Doesn’t trade mutual funds, options, or futures
Top Crypto ExchangesBest Cryptocurrency Selection: Coinbase
As one of the largest U.S.-based cryptocurrency exchanges, Coinbase is a user-friendly digital marketplace offering hundreds of cryptocurrencies. Coinbase caters to intermediate and advanced traders, as well as institutions and high-net-worth clients. Coinbase offers its Pro, Advanced Trade, and Prime platforms.
Coinbase has a low account minimum to get started and offers digital wallet storage for cryptocurrencies and other digital assets. Coinbase’s beta NFT trading platform has no transaction fees for creators and collectors.
What to look out for: Coinbase is under investigation by the SEC. Also, if you regularly use margin accounts to trade, Coinbase isn’t the best choice. It charges high fees.
Coinbase review
Best for Mobile Trading: Crypto.com
Crypto.com is a popular global crypto trading platform known for its user-friendly mobile trading app with various reward opportunities and DeFi wallet storage. Although Crypto.com offers a web-based exchange, U.S. investors are limited to its mobile app.
Crypto.com supports 350+ cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. The platform accepts 20+ kinds of fiat money. The Crypto.com mobile app provides Visa Card perks, reward-earning opportunities, crypto-tracking features, and price alerts.
What to look out for: U.S. investors won’t have access to Crypto.com’s more advanced trading features, such as margin trading, OTC trading, staking, and trading bots.
Crypto.com review
Best for Institutional and Private Wealth Management: Abra
Abra is a global crypto exchange serving institutions and private clients (including family offices and hedge funds) in 150+ countries. It offers comprehensive cryptocurrency investment solutions and wealth management services like OTC trading, lending services, and sovereign wealth funds.
Private clients can meet with a dedicated account manager for tailored crypto trading solutions, competitive fees, and 24/7 expert guidance from a team of professionals. Institutional clients can use Abra Prime to gain cryptocurrency exposure, access trading pairs, and build custom crypto and digital asset programs.
Abra’s OTC services give institutional clients access to interest-earning accounts, loans, and one-on-one account support.
What to look out for: Retail trading is no longer available in the U.S. Therefore, only Abra Prime and Private services are available for U.S.-based investors.
Abra review
Best for Security: Kraken
Kraken is one of the oldest and most well-established global crypto exchanges with industry-leading educational resources and security features. Kraken is one of the safest crypto exchanges for investors looking to trade 200+ cryptocurrencies. The platform also offers a handful of fiat currencies with options for retail and institutional investors.
Kraken provides investors with access to margin and spot trading. You can borrow up to 5x your account with a margin for increased liquidity and higher trading volumes. NFTs have no gas fees.
What to look out for: Kraken’s futures trading platform isn’t available to US traders. In addition, only institutional and high-net-worth clients can use the exchange’s consultation and account management services.
Kraken review
Best for Bitcoin: Cash App
Cash App Investing is one of the best crypto exchanges in the US due to its user-friendly platform and commission-free trades of more than 1,800 stocks and ETFs. When you link your Cash App balance to the mobile app, investors can easily buy, sell, send, and receive Bitcoin. You can even designate a specific portion of your paycheck to be converted into bitcoin when you set up direct deposits.
Send bitcoin to your friends fee-free with Cash App’s Lightning Network features. Cash App also provides an in-app custodial wallet to store your Bitcoin assets. You can start trading with as little as $1.
What to look out for: Cash App Investing only offers Bitcoin. Consider other top cryptocurrency platforms if you want to invest in other cryptocurrencies like Ethereum or Dogecoin.
Cash App Investing review
What are Crypto Exchanges?
A cryptocurrency exchange is like an online brokerage for cryptocurrencies, tokens, and other digital assets like NFTs. Investors can buy, sell, and trade cryptocurrencies for other cryptocurrencies or fiat currencies (like USD and EUR).
There are two types of crypto exchanges:
- Centralized Exchanges (CEX): Centralized exchanges are the most common type of crypto exchange. They are managed by companies and offer features such as fiat on-ramps, access to liquidity, and other advanced charting tools and analytics. However, they are susceptible to centralization and custodial risk.
- Decentralized Exchanges (DEX): Decentralized exchanges operate on the blockchain and are managed by their users. The most popular example is the Bitcoin system. Decentralized exchanges offer peer-to-peer trading without intermediaries and prioritize privacy and security. However, they lack liquidity and consumer protection and are vulnerable to security breaches.
How to Choose the Best Crypto Exchange
The best crypto exchanges offer competitive pricing for cryptocurrencies beyond Bitcoin and Ethereum and prioritize user experiences with an intuitive interface, clear platform navigation, and access to a mobile app. Trustworthy crypto trading platforms are licensed and compliant with industry regulations.
When deciding how to choose a crypto exchange, consider whether the exchange aligns with your investing preferences. This includes factors such as your risk tolerance, time horizon, preferred trading features, and investment goals. Additionally, ensure the exchange you pick matches your preferred trading style.
For example, if you’re a hands-off trader, you should pick a platform equipped with automated trading features and tools. Most crypto exchanges are designed with active traders in mind. If you’re looking for passive crypto trading, your options are limited.
FAQs About Crypto Exchanges
In general, cryptocurrency exchanges are not as secure or as closely regulated as other investment platforms. The crypto world has been subject to numerous frauds, scams, and bankruptcies. Most crypto platforms have an F rating from the BBB. But that doesn’t guarantee whether the platform will be good for you. Some exchanges, like Coinbase, have built strong trustworthiness reputations by compiling with regulatory practices and enforcing security protocols.
You must have a crypto wallet to buy and sell cryptocurrencies through an exchange. Most platforms have built-in wallet storage. 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, such as one of the best bitcoin wallets, to store your assets securely.
For tax purposes, cryptocurrencies are considered property by the IRS, similar to stocks and bonds. Typically, you’ll be taxed when you sell or trade crypto for more than you originally bought it. The tax rate varies depending on how long it was held before you sold it. Short-term capital gains of less than a year are taxed at your regular income tax rate. Long-term gains are generally taxed at a lower rate but can change based on your income level.
Why You Should Trust Us: Our Expert Panel For The Best Cryptocurrency Exchanges Rebecca Zissar/Business insider
We interviewed the following investing experts to see what they had to say about cryptocurrency exchanges.
What are the advantages/disadvantages of investing through a cryptocurrency exchange?
Sandra Cho:
“The advantages to investing through a cryptocurrency exchange are the ease of trading and functionality. These exchanges are built for cryptocurrency are are made as such.
“The disadvantages, however, are important. Recently, several cryptocurrency exchanges have gone under, and investors have lost significant amounts of money. Given that this industry and asset class is still relatively new, there are unique risks that are nor present in traditional investments like stock and bonds. Investing through a cryptocurrency leaves you at the will of the exchange itself, which has a non-zero possibility of going defunct.”
Tessa Campbell:
“Investing through a cryptocurrency exchange offers several advantages, including access to real-time market data and research, trading strategies, and multiple cryptocurrency options to add to individual brokerage accounts, retirement accounts, and more.
“Some disadvantages include high trading fees, limited resources, and frequent fraudulent activity. These platforms are often criticized for their inadequate security measures, risky trading, and subpar customer support.”
Who should consider investing through a crypto exchange?
Sandra Cho:
“Investors with an extremely high-risk tolerance and those that understand the inherent risks in investing through cryptocurrency exchanges may want to consider using an exchange. However, they should be wary of the risks and the lack of oversight that is apparent in the industry.”
Tessa Campbell:
“You may want to consider investing through a crypto exchange if you’re primarily focused on trading crypto and other decentralized currencies. Moreover, you’ll want to have a high investing risk tolerance and a hands-on trading approach.”
Is there any advice you’d offer someone who’s considering investing in cryptocurrencies through a crypto investment app?
Sandra Cho:
“I would tell them to first potentially reconsider dealing with cryptocurrencies at all. The asset class is extremely volatile and unregulated. If they insisted, I would then tell them to do their research on the relevant exchanges and choose the one that is safest and best backed. As mentioned, many crypto exchanges have gone under recently, which is a huge risk to the investor.”
Tessa Campbell:
“Make sure you fully understand the risks involved in purchasing highly volatile cryptocurrencies like bitcoin, ether, or dogecoin. You should also ensure that the cryptocurrency exchange you’re investing through is free of scams, bad business practices, or public scandals. One way to check this is with the Better Business Bureau’s grading system.”
Methodology: How We Reviewed the Best Cryptocurrency Exchanges
We applied Business Insider’s rating methodology for investing platforms to over a dozen exchanges to find the best options for cryptocurrency availability, low fees, asset/account security, user interfaces, and mobile access. Investment platforms are given a rating between 1 and 5.
We also explored whether exchanges offered services both for individuals and institutions, and we paid close attention to other account options like staking rewards, margin trading, and Stablecoin support.
Tessa Campbell
Investing and Retirement Reporter
Tessa Campbell is an investing and retirement reporter on Business Insider’s personal finance desk. Over two years of personal finance reporting, Tessa has built expertise on a range of financial topics, from the best credit cards to the best retirement savings accounts.ExperienceTessa currently reports on all things investing — deep-diving into complex financial topics, shedding light on lesser-known investment avenues, and uncovering ways readers can work the system to their advantage.As a personal finance expert in her 20s, Tessa is acutely aware of the impacts time and uncertainty have on your investment decisions. While she curates Business Insider’s guide on the best investment apps, she believes that your financial portfolio does not have to be perfect, it just has to exist. A small investment is better than nothing, and the mistakes you make along the way are a necessary part of the learning process.Expertise: Tessa’s expertise includes:
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- Credit cards
- Investing apps
- Retirement savings
- Cryptocurrency
- The stock market
- Retail investing
Education: Tessa graduated from Susquehanna University with a creative writing degree and a psychology minor.When she’s not digging into a financial topic, you’ll find Tessa waist-deep in her second cup of coffee. She currently drinks Kitty Town coffee, which blends her love of coffee with her love for her two cats: Keekee and Dumpling. It was a targeted advertisement, and it worked. Read more Read less
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