Top Crypto Exchanges

TABLE OF CONTENTS

Coinbase

THE GOOD: Coinbase is arguably the best crypto exchange, due to its friendly user interface, popular mobile app, PayPal withdrawals, and more. It’s a very beginner-friendly platform, making it an excellent gateway into the world of crypto. There is Coinbase Pro, which is being phased out due to the new “Advanced Trade” feature on their main app. Moving your money around is also a breeze with the app, and transfers can be made instantly. Currencies can be converted, and at the time of this writing, there are zero fees on currency conversions. CB also supports staking and features a debit card with crypto rewards earned for each purchase made.

THE BAD: Being one of the biggest exchanges in the US, Coinbase has been surrounded by a lot of controversy over the years. It’s typically known as a safe exchange to use as it’s put in the effort to remain fully compliant with laws and regulations. However, during important trading times, they have had their network go down so you can’t buy or sell – which has resulted in people losing money!  

Crypto.com

When the Los Angeles Staples Center got renamed to the Crypto.com Arena, it became clear to the world that Crypto.com is here to stay

THE GOOD: The Crypto.com app gives you the power to purchase more than 250 cryptocurrencies, often listing newer currencies before others, which is great if you’re trying to invest in projects early. Coinbase will often list a cryptocurrency after Crypto.com, and the CB listings are known to cause short-term highs. Inside the app, you will find a “Missions” section, where you can earn “Diamonds”. Earn enough Diamonds, and you can purchase NFTs, or open a mystery box where you typically earn free CRO (official Crypto.com currency). Awesome debit card options with cashback rewards and other bonuses–as long as you have enough money to invest. 

THE BAD: Requires a larger investment to start staking crypto. Fewer services are offered for United States members. Doesn’t allow crypto-to-crypto trading like Coinbase and other exchanges. Overall, it’s still a great choice if you want to diversify and avoid keeping all of your assets in one place. Card options require large investments, and instead of converting coins from your wallet like the Coinbase card – Crypto.com’s cards require an entirely separate money account so you can’t ever withdraw the money you put in, you have to spend it. 

Binance

The largest crypto exchange in the world, Binance, is an incredibly large centralized exchange with over 2,000 employees and 15 million clients. 

THE GOOD: Binance offers over 600 cryptocurrencies on its platform, making it a much more appealing option to those looking to invest in mining tokens, meme tokens, stablecoins, utility tokens, etc. Very low 0.1% fee for spot trading, even lower fees for BNB holders. There are no extra charges for making deposits on this exchange, and there are more ways to make passive income with your investments on this exchange. Liquidity farming, crypto lending, and staking features are available to help you make more money with crypto.

THE BAD: The main reason people avoid Binance is due to its lack of trust in the United States. It’s had a history of regulatory issues, so large investors in the states may not feel comfortable using its platform. Also, the US version of Binance is more limited in features. There is also a minimum withdrawal amount and withdrawal fees that vary depending on the cryptocurrency.

Kraken

Kraken is one of the first cryptocurrency exchanges, which is why it’s still known as the “bitcoin exchange”. It was founded in 2013 when the only currency you could trade was BTC. At the time of this writing, there are 65 currencies you can trade on Kraken.

THE GOOD: Kraken is known to be a secure, and reliable exchange. The mobile app is user-friendly and easy to navigate. Depositing money into Kraken is a relatively simple task, and there are multiple deposit options to choose from. This is in fact a CEX (centralized exchange) – but the company strives to be as secure as a DEX. There has never been a hacking incident involving this exchange.

THE BAD: Not available to New York and Washington state residents. Fewer currencies than other exchanges on this list. 

KuCoin

Possibly the best option for its large selection of cryptos to trade, KuCoin features over 700 cryptocurrencies on its platform! Since this exchange is not licensed or regulated in the United States, you can’t deposit USD. To get started with this exchange, you can bypass the USD limitations by depositing crypto from an external wallet.

THE GOOD: KuCoin is known for its low fees, a large variety of coins, and advanced trading features for traders outside of the United States. The exchange makes it easy for you to earn interest on your crypto investments. According to multiple reputable sources, the customer support provided by KuCoin is A+.

THE BAD: This exchange is also not ideal for beginners, but you can visit their website to see everything they have to offer. It may be overwhelming for beginners, so take a look and see if it’s the right exchange for you.

eToro

eToro is a social investing platform that allows users to trade cryptocurrency, stocks, and ETFs starting at $10. It offers an innovative feature that lets users copy the trades of other successful investors move-by-move. The company was founded in 2007 and has over 25 million users in 140 countries, including the U.S. where it recently began offering stocks and ETFs in addition to cryptocurrency trading.

Every eToro account also includes a $100,000 virtual trading account for practice. However, eToro’s services are currently limited to 46 U.S. states and D.C. and it offers a limited selection of ETFs. eToro is best for cryptocurrency, stock, and ETF traders who are interested in social or copy trading.

Gate.io

Anyone who searches for a list of the top crypto exchanges will come across Gate.io and for good reason. Gate.io has been around since 2013, making it one of the oldest centralized crypto exchanges to choose from. 

THE GOOD: The biggest benefit to using Gate.io is definitely the selection of over 200 cryptocurrencies to trade. Security has also been upgraded in recent times due to security breaches that happened in the past. Gate.io has a ton of advanced trading and earning features, plus low fees make it a desirable exchange to use for trading.

THE BAD: No support for fiat currencies, a history involving security breaches, and completely unlicensed/unregulated. Residents of New York and Washington will have to find a different exchange to use, as Gate.io is only available in 48 states, and those two aren’t included. However, security has been updated tremendously and the exchange has improved significantly so don’t let that deter you. 

Restricted countries and regions: Canada,United States of America,China,Singapore,Malaysia,Malta,Bangladesh,Bolivia,Cuba,Iran,Korea,North,Sudan,Syria

Bybit

Bybit is a Singapore-based exchange that was founded in 2018. The company has seen significant growth over the last few years, and it even managed to expand offices to Hong Kong and Taiwan. There are currently more than 10,000,000 users and growing…

THE GOOD: Spot Maker and Trader, Grid Bot, low fees, support for well over 200 currencies–what else could you ask for? NFT marketplace? Bybit has that too! Bybit probably has the greatest selection of tools and features to help you invest, save, and grow your wealth. 

THE BAD: Not available for U.S. traders due to it being an unregulated platform. Many traders use VPNs and find ways to use Bybit because it’s an incredible exchange with a large number of features. 

Bitstamp

Bitstamp is a solid option if you’re looking to start trading, as it’s widely supported across the globe and offers more than 60+ currencies. With locations in London, Luxembourg, Slovenia, and New York City, you can feel confident that you’re using a reputable exchange that’s licensed and regulated to operate.

THE GOOD: Bitstamp is licensed to operate in all 27 European Union countries, China, the United States, and about 47 other regions around the globe. The app features a clean design and easy-to-navigate interface that’s welcoming to beginners. Tradeview is also supported, which most advanced traders will appreciate. Bitstamp Earn is a great feature similar to traditional staking methods, where you will earn rewards for holding select cryptocurrencies. 

THE BAD: Even though the exchange has a positive reputation these days, it has been hacked in the past and that seems to scare off a lot of investors. Security has been updated and the platform is considered safe and secure to use now. Also, it does seem to be missing many popular cryptocurrencies that are available on most other exchanges. 

The Best Decentralized Exchanges

A decentralized exchange, or DEX, is a block-chain based app that gives you the ability to trade cryptocurrencies without the financial middleman. DEXs usually replace exchange order books with liquidity pools and AMMs. Many crypto enthusiasts prefer to use a DEX due to the fact that a centralized exchange can’t always be trusted and they will often take a huge chunk of your profits in trading fees. 

Decentralized exchanges offer a lot of ways for you to make money, here are the top 5 decentralized exchanges we know and trust!