Before you can start trading crypto, you need to sign up for an exchange where you can buy and sell coins and tokens. These exchanges come in all shapes and sizes, so we’ve compiled a list of the 5 best exchanges to help you find the one that’s right for you and your needs. Each exchange is rated on a scale of 1-5 across these categories: security, deposit options, supported coins/tokens, user interface/experience, and customer support.
Crypto Exchanges: An Introduction
When it comes to choosing a crypto exchange, there are a lot of factors to consider. Security, fees, ease of use, and supported countries are just some of the things you should take into account. To help you out, we’ve compiled a list of the five best crypto exchanges currently available.
In this article, we’ll examine what makes them great and why you should (or should not) use them. Don’t worry—we won’t get too technical. After all, we want our list to be useful for people with a range of experience in cryptocurrency!
Our top Cryptocurrency Exchanges are Coinbase, Kucoin, Crypto.com, Kraken, and Robinhood.
NOTE: We have traded for multiple years on all of these exchanges. These reviews are based on personal usage and experience.
1) Coinbase
BEST OVERALL
Coinbase is one of the most popular cryptocurrency exchanges in the world. Based in the US, it offers good security and has a user-friendly interface.
Our Rating: 4.5 out of 5.0 stars
Trading Fees: 1% Flat Fee
Best Feature: Ease of Use
Worst Feature: Lack of Altcoins Supported
Coinbase also offers a mobile app, which is handy for those who want to trade on the go. While they don’t offer as many coins as some other platforms, Coinbase does have good customer service and will help you get started with your first purchase. It’s easy to sign up and start trading with Coinbase. They allow anyone over 18 years old to create an account without verification or ID verification. There are currently no transaction fees for customers trading Bitcoin, Bitcoin Cash, Ethereum or Litecoin against USD or EUR. Withdrawals from the platform are charged at a rate of 1% plus a fixed fee per transaction depending on your country of residence.
Coinbase Trading Interface Desktop
2) Kucoin
MOST COINS SUPPORTED
Kucoin is one of the best crypto exchanges because it has low fees, a wide variety of coins, and is easy to use.
Our Rating: 4.3 out of 5.0 stars
Trading Fees: 0.1% Maker Fee, 0.1% Taker Fee
Best Feature: Ease of Use
Worst Feature: Funds are not insured
Kucoin also offers a great referral program where you can earn money by inviting others to join the platform. The downside is that their customer service can be a little slow at times. Another good feature is that Kucoin allows trading in some less common cryptocurrencies such as IOTA. The best part about this exchange though is its ability to trade in fiat currencies such as USD, EURO, and HKD.
Kucoin is not available in all countries, but still remains one of our favorite crypto exchanges.
3) Crypto.com
MOST COINS SUPPORTED
Crypto.com offers unique rewards for Crypto.com Visa Card holders and their utility token Cronos (CRO) allows users the ability to trade CRO on other platforms and earn rewards.
Our Rating: 4.0 out of 5.0 stars
Trading Fees: 0.4% Maker Fee, 0.4% Taker Fee
Best Feature: CRO Rewards
Worst Feature: High trading fees on lower value trades
Crypto.com is a great exchange for those who want to buy and hold cryptocurrencies for the long term. They offer a great selection of coins, low fees, and a user-friendly interface plus, their Earn program allows you to earn interest on your cryptocurrency holdings. And if you are interested in trading, they have low transaction fees as well as no withdrawal or deposit limits. If you plan on investing in cryptocurrency, it’s worth checking out what CRO has to offer.
4) Kraken
BEST CUSTOMER SERVICE
Kraken is a US-based cryptocurrency exchange that was founded in 2011. The exchange offers a wide range of coins, including Bitcoin, Ethereum, Litecoin, and more.
Our Rating: 4.0 out of 5.0 stars
Trading Fees: Flat 0.9% fee for stablecoins, 1.5% for altcoins
Best Feature: US margin trading available
Worst Feature: Hacked accounts are more common
Kraken is a great choice for those looking for an advanced and feature-rich crypto exchange. Along with a solid trade interface, the company offers margin trading on certain pairs as well as lending services. To open an account with Kraken, you will need to provide your email address and create a password . Once registered, you can fund your account with fiat currency or cryptocurrency by going to deposit and selecting the desired option. Fees are listed before adding funds but vary depending on what type of currency it is. The fee ranges from 0% to 0.26%. They also offer monthly discounts of up to 20% if you verify your account. There are five different verification levels: Tier 1 (basic), Tier 2 (enhanced), Tier 3 (premium), Tier 4 (expert) and Tier 5 (master). With each tier, there are higher limits and lower fees.
5) Robinhood Crypto
MOST COINS SUPPORTED
Robinhood was one of the first brokerages to offer commission-free trades, and they’ve applied that same philosophy to their crypto offerings.
Our Rating: 4.0 out of 5.0 stars
Trading Fees: 0.1% Maker Fee, 0.1% Taker Fee
Best Feature: Crime insurance against theft and cybersecurity breaches
Worst Feature: You can only buy, hold and sell
Robinhood allows you to buy and sell Bitcoin and Ethereum without any fees, and they have plans to add more coins in the future. The downside is that Robinhood only offers spot trading, so you can’t use it for margin or day trading.
Quite honestly, we got into Robinhood in order to take advantage of Coinbase stock (COIN) when they went public. The platform allows you to monitor traditional stocks and crypto. If you’re just looking to buy some crypto and hold it for the long term, Robinhood is a great option.
