If you want to buy, sell, or trade digital currencies like Bitcoin, Ethereum, or smaller altcoins, choosing the right crypto exchange is essential.
The best crypto platforms offer a wide range of features, including advanced and basic trading tools, various order types, access to numerous cryptocurrencies, strong security measures, and user-friendly interfaces.
Investopedia’s team of researchers and editors analyzed 14 crypto exchanges using 27 weighted criteria critical for success in cryptocurrency trading. This thorough research considered factors like fees, security, available cryptocurrencies, trading tools, and transparency to help investors choose the right platform.
After careful analysis, we found the following exchanges and apps stand out for different types of users:
- Kraken – Best for low fees
- Gemini – Best for security and experienced traders
- Coinbase – Best for beginners
- Crypto.com – Best mobile app and best for Bitcoin investors
- BitMart – Best for altcoins
Important Note
Investing in cryptocurrencies, Initial Coin Offerings (ICOs), and Decentralized Finance (DeFi) projects carries high risk. Cryptocurrency markets can be extremely volatile, and prices can fluctuate quickly. Always consult a qualified financial professional before making investment decisions. This article does not serve as financial advice, and neither Investopedia nor the writer guarantees the accuracy or timeliness of the information presented.
Best for Low Fees: Kraken
Minimum deposit: $10
Maker fees (Kraken Pro): 0.00% – 0.25%
Taker fees (Kraken Pro): 0.08% – 0.40%
Available cryptocurrencies: 540+
Why Kraken Stands Out
Kraken is widely recognized as the best exchange for traders looking to save on fees. It provides a low-cost trading environment without compromising access to advanced features or educational resources. Beginners and experienced traders alike can benefit from Kraken’s platform, which is accessible via web, desktop, mobile, and its specialized Kraken Pro platform.
Pros:
- Very low fees for both beginners and advanced traders
- Extensive educational resources and research tools
- Multiple platform access: web, desktop, mobile, and Kraken Pro
Cons:
- Not available in all 50 U.S. states
- No FDIC, SIPC, or other insurance protection for cryptocurrency holdings
- Options trading is not supported
Overview:
Kraken is perfect for traders who want a reliable, low-cost platform that also provides in-depth trading resources. Its broad range of cryptocurrencies and simple minimum deposit make it ideal for both new and experienced users.
Best for Security & Experienced Traders: Gemini
Minimum deposit: $0.00
Maker fees: 0.00% – 0.20%
Taker fees: 0.03% – 0.40%
Available cryptocurrencies: 70+
Why Gemini Stands Out
Gemini is a leader in security and compliance. It offers strong safeguards, including third-party audits and robust infrastructure, to protect traders’ funds. It also provides FDIC insurance on uninvested cash and crypto insurance for added security.
For experienced traders, Gemini’s ActiveTrader platform offers advanced charting, a wide variety of order types, and options for trading futures and perpetual contracts.
Pros:
- High-level security and regulatory compliance
- Available across all 50 U.S. states
- FDIC insurance for cash and additional crypto insurance
Cons:
- Limited selection of cryptocurrencies
- Customer support only through a request form
- Fee structure can be complex for beginners
Overview:
Gemini is ideal for traders who prioritize security and advanced trading capabilities. While it may not have as many coins as other platforms, its safety features and professional tools make it a solid choice for serious investors.
Best for Beginners: Coinbase
Minimum deposit: $0.00
Maker fees: 0.00% – 0.40%
Taker fees: 0.05% – 0.60%
Available cryptocurrencies: 300+
Why Coinbase Stands Out
Coinbase is a beginner-friendly exchange with an intuitive interface and strong security measures. Its simple fee structure and access to educational resources make it easy for newcomers to start trading. As users gain experience, Coinbase also offers advanced trading tools, eliminating the need to switch to another platform.
Pros:
- Excellent educational and research resources
- Reasonable fees and wide cryptocurrency selection
- Accessible in 172 countries with web, desktop, and mobile platforms
Cons:
- May not meet the needs of highly experienced traders
- Limited access to margin or options trading; futures trading only on select cryptocurrencies
- Customer support requires a chat or call request
Overview:
Coinbase is perfect for beginners who want a secure and straightforward platform to start trading. Its educational materials and step-by-step interface help new users understand cryptocurrency markets effectively.
Best Mobile App & Best for Bitcoin: Crypto.com
Minimum deposit: $20
Maker fees: 0.08% – 0.25%
Taker fees: 0.18% – 0.50%
Available cryptocurrencies: 400+
Why Crypto.com Stands Out
Crypto.com is known for its mobile-first approach. Users can easily buy, sell, and trade crypto directly from their phones.
It’s also an excellent choice for Bitcoin investors because of its strong security, reasonable fees, and support for Bitcoin futures and options.
Pros:
- Offers Bitcoin options and futures
- Strong mobile app and debit card program
- Reasonable fees and wide crypto selection
Cons:
- Available in fewer than 100 countries
- Only provides chat support
- Funds are stored in a hot wallet only
Overview:
Crypto.com is best for traders who prefer managing their cryptocurrency on mobile devices. Its mobile app and Bitcoin-focused features make it a strong choice for both casual and active investors.
Best for Altcoins: BitMart
Minimum deposit: Not publicly disclosed
Maker fees: Not publicly disclosed
Taker fees: Not publicly disclosed
Available cryptocurrencies: 1,700+
Why BitMart Stands Out
BitMart is the go-to exchange for altcoin enthusiasts. It offers access to over 1,700 cryptocurrencies, including many digital assets that are not available on most other platforms.
Pros:
- Wide access to over 1,700 cryptocurrencies
- Social trading via copy-trading feature
- BitMart Academy offers educational resources
Cons:
- Security measures are not clearly displayed
- Fee structure only visible after account registration
- Supports crypto deposits only
Overview:
BitMart is ideal for users looking to trade lesser-known cryptocurrencies. Its extensive altcoin selection and copy-trading capabilities make it unique, though it’s less transparent on fees and security than some other platforms.
Why You Can Trust This Review
Investopedia, launched in 1999, conducted independent research on 14 cryptocurrency exchanges to provide reliable guidance. Nearly 450 data points were collected, including fees, cryptocurrency selection, trading tools, and security standards. Some information was obtained directly from exchanges to ensure accuracy.
A proprietary scoring model was used to rank each platform based on four major categories and 29 weighted criteria:
- Trading features: 30%
- Fees: 28%
- Security: 21%
- Transparency: 21%
This method ensures an unbiased, data-driven approach to help investors find the best crypto exchanges and apps that suit their needs.
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