Other factors we considered in our methodology include their cryptocurrency selection, payment options and trade volume. Network fees are paid to cryptocurrency miners, who process and secure crypto transactions on the blockchain. Many centralized crypto exchanges incur this cost, though some may allow their users to pay more in miner fees to speed up transaction speeds. Gemini is a well-funded crypto exchange with a reputation for being easy to use.

Finally, don’t assume that an exchange is available in your country, or even state, just because you can access its website. Many state and federal governments are still figuring out how exactly they want to treat cryptocurrencies from a legal and tax standpoint. If there’s not a lot of volume and you put an order in, that’s called slippage. You could end up buying at a higher price or selling at a lower price than you’d want.

Beginners can benefit from the relative ease of buying and selling cryptocurrencies on Crypto.com, although it charges slightly steeper fees than some competitors. The Crypto.com DeFi wallet allows users to store their crypto and earn rewards on their assets. Offering a solid range of coins with low fees, Kraken is well-suited for beginners.

While it still can’t compete with the pure-play crypto platforms on this list, Robinhood Crypto is a solid choice for those looking for an app that features crypto and stocks all in one. 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.

The New York-based exchange has hot wallet insurance to make sure user funds remain safe in the case of a security breach. Buy, sell & swap the cryptocurrencies you want anytime, anywhere. He regularly writes about investing, student loan debt, and general personal finance topics geared toward anyone wanting to earn more, get out of debt, and start building wealth for the future.

Customers who are interested in features like in-depth technical analysis might consider paying for Coinbase’s Advanced Trade product, which will also be augmented with increased security. Advanced Trade is also replacing some of the features offered by Coinbase Pro, which was sunsetted in November 2022. Another heavy hitter when it comes to the sheer amount of coins available, KuCoin  provides access to a wide library of altcoins at low fees. Users can take advantage of Crypto.com’s utility token Cronos (CRO) to pay fees on the platform and earn other benefits. Crypto exchanges reviewed by NerdWallet generally have no account minimums, which means you’re free to create an account and look around without spending a dime. And if you decide to buy some crypto, you don’t have to buy a lot.

And keep your passwords and other authentication methods secure. Offers a nice range of cryptocurrencies and a simple-to-use app experience. Popular with beginner investors, Gemini prides itself on its security and is available in all 50 U.S. states. Bitcoin bulls have long believed SEC-approved spot bitcoin ETFs would make it easier for institutional and retail investors to access bitcoin. This could open the floodgates for cryptocurrency to become a mainstream asset class.

Our tight spreads and high liquidity mean that you can enter and exit positions quickly when trading with CFDs. Yes, like any market, trading cryptocurrency can be profitable if you correctly predict the direction and timing of price movements. However, cryptocurrency markets are exceptionally volatile – meaning that they’re high risk.

• Over 20 years ago and has been contributing to The Ascent since the summer of 2019.
• Blueprint does not include all companies, products or offers that may be available to you within the market.
• Educational content is helpful for all levels of traders, but especially for those new to crypto, who may need to find their bearings before they begin investing.
• When you trade Bitcoin, Cash App uses the mid-price and adds a spread fee.
• Discover more about trading the volatile – and risky – cryptocurrency markets.

BYDFi is one of the few exchanges that complies with financial industry regulations and holds licenses in Australia, Singapore and the U.S. Users who are interested in spot trading will enjoy the low trading fees and a decent selection of popular cryptocurrencies. NerdWallet’s comprehensive review process evaluates and ranks platforms and companies that allow U.S. customers to buy and/or sell cryptocurrency. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. It’s important to note that some crypto exchanges have had issues with these secondary services.

Investopedia collected vital data points from several Cryptocurrency Exchanges and apps to identify the most essential factors to crypto investors. Choosing the right crypto exchange that meets your needs as an investor is an essential aspect of investing in crypto assets. 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. While Crypto.com offers an impressive amount 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’re an advanced crypto trader, you may want to make sure your preferred exchange offers the trading types—like limit orders, which can prevent slippage by setting a hard price—and margin you want. Remember trade types involving the latter are still evolving in the U.S., so different exchanges’ offerings may vary over time. Each offers a portal where you can create different order types to buy, sell and speculate on cryptocurrencies with other users. The trading fees reflected for each brokerage or crypto exchange are the trading fees for the lowest volume of trade, using the most basic version of the platform.

We researched some of the largest cryptocurrency exchanges to rank the best available today. Interactive Brokers also lets you trade stocks, ETFs and mutual Securities Truly a Trustworthy Brokerage Firm funds. This means you can invest in cryptocurrency without handling the coins directly. You can also invest indirectly by owning shares of Coinbase stock.

Recent years have seen a wave of both positive and negative news for the crypto industry. Crypto exchange FTX collapsed and top executives were charged with crimes, while other exchanges including Binance and Coinbase faced charges from the Securities and Exchange Commission. Still, the SEC approved several spot Bitcoin ETFs in early 2024, giving traders a simple structure to buy and sell the largest cryptocurrency in the world. The offers that appear on this site are from companies that compensate us. But this compensation does not influence the
information we publish, or the reviews that you see on this site. We do not include the universe
of companies or financial offers that may be available to you.

Coinbase has been at the forefront of cryptocurrency trading since it was founded in 2012, paving the way for beginners who had previously been skeptical of decentralized wallets and how to use them. And that ethos continues to this day — Coinbase is consistently one of the most user-friendly crypto apps we review, even when using its more advanced trading features. This makes it a strong choice for beginners looking for an onramp into the world of crypto. If you’re looking to trade a specific cryptocurrency, you’ll want to confirm it’s available through the platform you’re interested in.