Best Crypto Exchanges

Our top picks for the best cryptocurrency exchanges include Kraken, Coinbase, and Crypto.com, among others. To help you find the best options, we conducted a thorough review of 28 cryptocurrency exchange platforms based on key criteria such as security, offerings, availability, fees, financial options, features, and mobile capabilities.

Cryptocurrency exchanges function similarly to other central exchanges, like traditional online brokerages. With Bitcoin reaching new all-time highs of over $73,000 in March, these top crypto exchanges provide you with all the necessary tools for researching, trading, and investing in Bitcoin and other cryptocurrencies. In addition to offering a platform for securely buying and selling digital currencies and tokens, many crypto exchanges also provide additional crypto investment features such as staking, lending, and digital asset custody.

Here are our picks for the best cryptocurrency exchanges and apps of April 2024:

1. Best for Low Fees and Best for Experienced Traders: Kraken
   • Kraken stands out for its low fees and comprehensive features, making it an excellent choice for both cost-conscious investors and experienced traders.
2. Best for Beginners: Coinbase
   • Coinbase is highly user-friendly, making it ideal for newcomers to the world of cryptocurrency investing. Its intuitive interface and educational resources help beginners navigate the complexities of trading digital assets with ease.
3. Best Mobile App: Crypto.com
   • Crypto.com offers a top-notch mobile app experience, allowing users to trade, manage their portfolios, and access a range of crypto-related services on the go. Its user-friendly interface and advanced features make it a standout choice for mobile users.
4. Best For Security: Gemini
   • Gemini prioritizes security and compliance, providing users with peace of mind when it comes to safeguarding their digital assets. Its robust security measures and regulatory adherence make it a trusted platform for cryptocurrency investors.
5. Best for Altcoins: BitMart
   • BitMart offers a wide selection of altcoins, providing investors with ample opportunities to diversify their portfolios. Its extensive range of supported tokens makes it an attractive option for those looking to explore alternative cryptocurrencies.
6. Best for Bitcoin: Cash App
   • Cash App caters specifically to Bitcoin investors, offering a simple and straightforward platform for buying, selling, and holding Bitcoin. Its focus on Bitcoin and streamlined interface make it an excellent choice for Bitcoin enthusiasts.
7. Best Decentralized Exchange: Bisq
   • Bisq is a decentralized exchange that prioritizes privacy and censorship resistance. Its peer-to-peer trading model allows users to trade cryptocurrencies directly with one another, without the need for intermediaries.

These top cryptocurrency exchanges and apps offer a range of features and services to cater to the diverse needs of cryptocurrency investors. Whether you’re a seasoned trader or just getting started, there’s a platform out there to suit your preferences and investment goals.

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Kraken

Key Specifications:

• Transaction Fees: Ranges from 0.00% to 0.40%
• Supported Currencies: Over 200
• Minimum Deposit or Purchase: $1
• Trade Limits: Yes

Why We Chose It:

We selected Kraken’s professional-grade trading platform, Kraken Pro, as the best low-fee exchange due to its competitive fee structure in the crypto asset exchange market. It’s also our top recommendation for experienced traders because of its advanced order types and support for margin and futures trading.

Pros & Cons:

Pros:

• Wide variety of supported cryptocurrencies
• Low fees
• Highly liquid exchange

Cons:

• Not available in all U.S. states
• Limited options for funding accounts

Overview:

Established in 2011 and headquartered in San Francisco, Kraken is widely regarded as one of the most reputable cryptocurrency exchanges globally. Offering access to over 200 cryptocurrencies, Kraken enables investors to buy, sell, and store digital assets while maintaining low transaction fees, especially on its professional-grade trading platform, Kraken Pro.

Kraken has solidified its position as a reliable trading venue for professional investors since the early days of the crypto asset market. Its Pro dashboard provides comprehensive chart analysis tools, detailed order book insights, 13 order types, and rapid execution. In addition to spot trading, Kraken facilitates margin trading and offers support for executing crypto derivatives trading strategies.

For investors utilizing the instant buy feature, a service markup applies, which varies based on factors like funding method, market conditions, order size, and asset type. Kraken and Kraken Pro feature a tiered fee structure, enabling high-volume traders to benefit from reduced trading fees. Maker fees on Kraken Pro start at 0.25% and taker fees start at 0.40% for traders with 30-day volumes below $10,000. However, these fees can drop to as low as 0% for makers and 0.10% for takers for traders with 30-day rolling volumes exceeding $10 million.

However, Kraken’s funding options are somewhat limited, primarily relying on wire transfers as the primary payment method, with ACH transfers not supported.

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Coinbase

Key Specifications:

• Transaction Fees: Ranges from 0.00% to 0.60%
• Supported Currencies: Over 200
• Minimum Deposit Or Purchase: $2
• Trade Limits: Yes

Why We Chose It:

We selected Coinbase as the best crypto exchange for beginners due to its extensive range of supported cryptocurrencies, robust security measures, and user-friendly platform, making it an ideal choice for those new to crypto trading.

Pros & Cons:

Pros:

• Wide variety of cryptocurrencies and trading pairs
• Offers both beginner-friendly and advanced trading platforms
• Highly liquid exchange

Cons:

• Lack of high-quality customer service
• Coinbase.com is a custodial account, meaning users do not control the private keys

Overview:

Founded in 2012 with the aim of simplifying the process of buying, selling, and storing Bitcoin, Coinbase has evolved into a publicly traded cryptocurrency exchange available in over 100 countries. Known for its user-friendly interface and strong security features, Coinbase caters to both novice and experienced traders alike.

With a vast selection of supported assets exceeding 5,500, Coinbase has become a popular choice for first-time crypto investors, offering an intuitive platform reminiscent of online banking apps. Additionally, Coinbase insures digital funds and stores U.S. dollar balances in FDIC-insured bank accounts, enhancing security measures.

Coinbase provides multiple payment methods for funding accounts, including wire transfers and ACH transfers. It also offers storage options, including a custodial option on Coinbase.com and a non-custodial wallet, Coinbase Wallet, for experienced users who prefer to control their private keys.

Despite its user-friendly interface and robust security measures, Coinbase’s trading fees can be relatively high, ranging from 0% to 0.60% depending on trade volume. Additionally, the platform has faced criticism for its customer support quality and instances of unexpected account closures.

Moreover, Coinbase has been charged by the SEC for allegedly operating as an unregistered securities exchange, a situation the company has been attempting to address through ongoing discussions with regulators. Despite these challenges, Coinbase remains a popular choice among beginners due to its ease of use.

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