Quick Dive
Crypto exchanges provide a relatively straightforward way to buy, sell and hold cryptocurrencies. Compare platforms based on fees, security, regulatory compliance and more.
Best Crypto Exchanges and Apps
Coinbase Exchange
Maker Fee 0.40% Taker Fee 0.60% for lowest volume tier; Monthly subscription for zero trading fees, spread fees still apply*
*Basic subscription is $4.99 monthly/$49.99 annually
400+
Yes
Our Expert Review
Our testing determined that Coinbase Exchange is the best overall crypto exchange, earning a 5-star rating from our research team. Coinbase Exchange is the best overall crypto exchange for its easy-to-navigate interface, strong regulatory compliance in the U.S. and 400-plus crypto coins.
Coinbase joined the S&P 500 index in May 2025—making it the first crypto exchange to accomplish the feat. If you’re tracking those sorts of stats, Robinhood joined the S&P 500 a few months later in September 2025.
The platform is both beginner- and advanced-trader-friendly. In addition to its basic trading platform, there’s Coinbase Advanced, which is intended for experienced traders.
Coinbase offers a vast number of tradable cryptocurrencies, which should satisfy most investors looking to break into the crypto space. The platform stands out for its easy-to-navigate interface that makes one-time or recurring crypto transactions a snap.
One note: It’s not available in all 50 states—Hawaii and California are not listed on Coinbase’s licenses list.
If you need help, you can reach customer support via chat, email, mail and phone, as well as learn from Coinbase’s blog and crypto guides.
Pros and Cons
|
Access to over 400 tradable assets |
High fees for convenience |
|
Platforms for beginner and advanced users |
Several hacks reported in recent years |
Consumer Sentiment Index
- 0–5 Poor
- 5–7 Fair
- 7–10 Good
-
#4Security Features
-
#8Fees and Costs
-
#17Customer Support
-
#9User Interface and Experience
-
#4Deposit and Withdrawal Process
Coinbase Exchange garners a mix of opinions from users, with issues of high fees and customer service being predominant concerns. Despite these challenges, some users appreciate Coinbase’s easy-to-navigate interface, quick fund transfers, and ease of navigation.
Bitstamp (by Robinhood)
Maker Fee 0.30% Taker Fee 40%*
*For trading volumes less than $10,000 within 30 days.
160+ assets
No**
**Bitstamp Earn Staking is not available to customers in the U.S., Singapore and Japan.
Our Expert Review
Based on our research, Bitstamp is the best crypto exchange for insuring crypto assets, receiving a 4.8-star rating from our research team. Bitstamp also stands out for its insurance fund, designed to reduce the risk of losses redistributed among traders.
Bitstamp was acquired by Robinhood for $200 million in June 2025, bringing with it over 50 global crypto licenses, institutional clients and infrastructure for staking, lending and crypto-as-a-service. For now, Bitstamp will continue operating independently.
Bitstamp’s platform is intended to be simple to use and is intuitive even for beginner crypto traders. If, however, you’re a more advanced trader, the Bitstamp Pro platform offers in-depth charts, several order types and a suite of analytical tools. The exchange is also available to residents in most U.S. states, except for Nevada and Hawaii.
But while Bitstamp offers staking capabilities, it’s only for two coins: Ethereum and cardano.
Bitstamp is best if you want a straightforward, secure platform to trade major cryptocurrencies without complex features.
Pros and Cons
|
Intuitive trading platform |
Staking is only available for two coins |
|
Available in most U.S. states |
No chat support |
Consumer Sentiment Index
- 0–5 Poor
- 5–7 Fair
- 7–10 Good
-
#17Security Features
-
#23Fees and Costs
-
#2Customer Support
-
#24User Interface and Experience
-
#13Deposit and Withdrawal Process
Some users appreciate Bitstamp for its security features and easy-to-navigate interface. That said, for many, the negative experiences and difficulties with customer service overshadow positive aspects.
Kraken
1% (flat fee)*
*1% trading fee is waived for Kraken+ members on trading volume up to $10,000 per month
600+
Yes
Our Expert Review
According to our testing, Kraken ranks as the best crypto exchange for most crypto coins, with a 4.6-star rating from our research team. With Kraken, you can trade over 600 coins, which is a large selection compared to most crypto exchanges.
Kraken is also one of the oldest U.S. crypto exchanges, founded in July 2011 during crypto’s Paleolithic era. This platform offers a solid range of coins with very competitive trading fees. We appreciate the exchange’s competitive maker-taker fee structure, which may appeal to high-volume traders searching for low fees. Kraken’s platform is intuitive and easy to use, even if you’re a relatively new crypto trader.
If you’re interested in staking, you’ll find Kraken’s offerings attractive: The exchange offers staking for 25 coins, which is more than most. Kraken’s Auto Earn feature also lets you earn rewards on your crypto holdings, while still having access to your funds at all times.
Kraken is not available to residents of Maine and New York. Crypto transfers are unavailable to Indiana residents, and residents of Texas and New Hampshire can’t deposit or trade EUR pairs.
Pros and Cons
|
Large selection of tradable coins |
Crypto transfers are not available in Maine, New York or Indiana |
|
Longer track record than most crypto exchanges |
The 2024 extortion attempt highlighted security vulnerabilities |
Consumer Sentiment Index
- 0–5 Poor
- 5–7 Fair
- 7–10 Good
-
#1Security Features
-
#3Fees and Costs
-
#4Customer Support
-
#11User Interface and Experience
-
#2Deposit and Withdrawal Process
The general sentiment surrounding Kraken, as gauged by user comments, is mixed, with a variety of opinions spread across both positive and negative aspects. While some users appreciate Kraken for its good customer service, competitive fees and robust security measures, others express dissatisfaction with withdrawal holds, higher fees on certain transactions, and perceived inefficiencies in customer support.
Gemini
Maker Fee 0.60% Taker Fee 1.20%*
*Assumes trades of less than $10,000 per month
78
Yes
Our Expert Review
In our research, Gemini emerged as the best crypto exchange for regulatory compliance, earning a 4.4-star rating from our research team. The platform operates under strict compliance standards of the NYDFS and holds customer funds at a one-to-one ratio at any time.
Gemini is available to traders in all 50 states, which is rare among crypto exchanges. In addition to its beginner-friendly platform, Gemini offers ActiveTrader, a highly customizable platform for more experienced traders.
Gemini’s ActiveTrader helps customers tailor their trading experience to their needs, offering features like chart customization and dual-market monitoring. Gemini also offers a credit card that lets you earn bitcoin on purchases. You can stake solana, monad and Ethereum with Gemini. As of February 2026, staking is now available to New Yorkers.
While Gemini offers an easy-to-use interface, the platform comes with some drawbacks. For one, it has a convoluted fee structure—and the fees do add up. There’s also an added 1% convenience fee plus a 1.49% transaction fee for web and mobile instant orders.
Pros and Cons
|
Available in all 50 states |
Gemini’s fee structure is higher than most competitors |
|
Intuitive user interface |
Additional add-on fees for “instant” web purchases |
Consumer Sentiment Index
- 0–5 Poor
- 5–7 Fair
- 7–10 Good
-
#12Security Features
-
#13Fees and Costs
-
#21Customer Support
-
#17User Interface and Experience
-
#15Deposit and Withdrawal Process
Many users report difficulties accessing their accounts or funds on Gemini, often citing lengthy verification processes and unresolved customer service inquiries. That said, a few users find the Gemini platform functional, appreciating its ease of use and security features for purchasing and storing cryptocurrencies.
Crypto.com
Maker Fee 0.25% Taker Fee 0.50%*
*For $10,000 or less in trades within 30 days.
400+
Yes
Our Expert Review
Our testing shows that Crypto.com is the leading crypto exchange for staking options, achieving a 4.4-star rating from our research team. You can also earn interest on your assets and stake at least 26 coins.
We like Crypto.com’s relatively comparatively low trading fees and that the exchange supports over 400 currencies. Crypto.com’s customer support avenues and extensive educational materials also helped it earn a top spot on our list.
Not only can you buy and sell hundreds of coins using Crypto.com, but you can also earn rewards on select crypto through various programs. For instance, Crypto.com offers a “compound lending program that allows you to earn a yield on crypto without handing over custody to a third party.” Some of the tokens eligible for compound lending include Ethereum (ETH), USD coin (USDC) and DAI (DAI), to name a few.
The exchange also offers a Visa prepaid debit card that lets you earn rewards when you use it to spend your crypto.
Users can take advantage of Crypto.com’s utility token, Cronos (CRO), to pay fees on the platform and earn other benefits.
If you live in the Empire State, you won’t be able to trade or use Crypto.com. Staking is not available in California, Maryland, New Jersey or Wisconsin.
Pros and Cons
|
Can earn interest on crypto |
Significant hack in 2022 |
|
Offers Visa prepaid cards for spending crypto |
Not available to New York residents, since it’s not in compliance with the NYDFS licensing rules |
Consumer Sentiment Index
- 0–5 Poor
- 5–7 Fair
- 7–10 Good
-
#18Security Features
-
#15Fees and Costs
-
#16Customer Support
-
#14User Interface and Experience
-
#21Deposit and Withdrawal Process
Many appreciate the platform’s comprehensive features, ease of use, and various perks like cashback on Visa cards, competitive interest rates and robust security measures. That said, there is considerable dissatisfaction due to high fees, wide spreads, and notably unreliable customer support, with some users accusing the platform of misleading practices and hidden charges.
Binance.US
Maker Fee 0.00% Taker Fee 0.02% for Tier I trades*
* 0% maker fees on Tier 0 trades for BTC/USD, ETH/USD and USTD/USD with 0.0095% taker fees.
190+
Yes
Our Expert Review
After conducting research, we found Binance.US to be the best crypto exchange for overall satisfaction, receiving a 4.3-star rating from our research team. Within Binance’s CSI score, the platform received a 4.1 out of 5.0 for customer satisfaction.
Binance’s fee structure is a little convoluted for newbies. You can place market limit orders for 0% maker fees when trading certain trading pairs with bitcoin, Ethereum and tether (USDT). Tier I trading pairs have rock-bottom maker fees, too, of 0.00%, and that’s for trading less than $10,000 within 30 days.
We like the fact that you can stake 28 coins with Binance.US and that you have access to a range of educational resources.
Though you can trade over 190 coins with Binance, this is significantly lower than some other top exchanges. Binance.US charges higher fees than many of our other picks. Plus, the exchange is restricted in several U.S. states.
Binance.US is not available to residents of Alaska, Connecticut, Georgia, Maine, New York, North Carolina, North Dakota, Ohio, Oregon, Texas, Vermont and Washington. Even in states with availability, there are other restrictions, too; USD services are not available in Kansas and Wisconsin.
Pros and Cons
|
28 coins available for staking |
Available in fewer U.S. states |
|
Extensive educational resources on the website |
Reports of several hacks to the parent exchange Binance |
Consumer Sentiment Index
- 0–5 Poor
- 5–7 Fair
- 7–10 Good
-
#6Security Features
-
#24Fees and Costs
-
#11Customer Support
-
#5User Interface and Experience
-
#19Deposit and Withdrawal Process
Binance.US has a mixed reputation. On the positive side, users appreciate the low fees and wide selection of cryptocurrencies, with several praising its large exchange capacity. That said, a significant number of users report dissatisfaction with customer service, citing issues with account suspensions, withdrawal problems and a lack of effective support.
Robinhood
Maker fee 0.50% Taker fee 0.95%*
* 0.95% spread fee for under $10,000 in 30-day trading volume.
80+
(some coins not available in all states)
Yes
Our Expert Review
Findings from our testing indicate that Robinhood is the best crypto exchange for recurring investments, earning a 4.3-star rating from our research team. Robinhood’s recurring investment feature allows dollar-cost averaging at a fractional level. Let’s put it this way: You can set your account to purchase $10 of the same crypto every week or month.
Right off the bat, we like that Robinhood Crypto operates as the crypto arm of Robinhood, a publicly traded company on the Nasdaq Composite under the ticker HOOD. The platform is registered as a virtual crypto business with the New York State Department of Financial Services—which adds an extra layer of regulatory oversight, giving you a bit more reassurance about your money being held on the platform.
Robinhood Crypto is available in all U.S. states as well as U.S. territories, including the U.S. Virgin Islands, Puerto Rico and the District of Columbia. It offers a solid variety of cryptos, including big crypto heavyweights like bitcoin, Ethereum, dogecoin, litecoin, shiba inu, and avalanche, among the more than 50 coins it supports. But some coins are restricted from trading in New York, such as Hyperliquid (HYPE) and Pax Gold (PAXG), to name a couple.
In terms of fees, Robinhood’s crypto fees are based on a 30-day trading volume for traders executing less than $10,000 in trades during the period; the effective fee on an order can be approximately 0.95%. Fees decrease with higher trading volumes, dropping to about 0.25% for trades between $50,000 and $250,000.
Payment methods can also affect costs. Using a debit card may incur fees up to 1.75%, and bank transfers can carry a similar charge. The lowest cost option is using Robinhood “buying power,” which refers to funds already deposited into your Robinhood account (available to trade immediately).
Robinhood only offers three staking options: Ethereum, cardano and solana. But you can stake for as little as a dollar since assets are pooled with other users. But be aware that the platform does take a 25% commission of the annual percentage yield (APY) that you earn via staking.
Pros and Cons
|
Availability of “blue-chip” cryptos like bitcoin and Ethereum |
Trading fees run higher than other platforms |
|
User-friendly interface |
Only three coins for staking: Ethereum, cardano and solana |
|
Highly regulated by both the NYSFDS and the SEC |
Consumer Sentiment Index
- 0–5 Poor
- 5–7 Fair
- 7–10 Good
-
#16Security Features
-
#9Fees and Costs
-
#22Customer Support
-
#18User Interface and Experience
-
#12Deposit and Withdrawal Process
Users appreciate its fee structure and easy-to-use interface, which make it appealing to beginners and casual investors. Some find Robinhood convenient for certain transactions, but note that there are hidden fees in price spreads.
Webull
1%
70+
No
Our Expert Review
Through our research, Webull proved to be the best crypto exchange for advanced charting tools, securing a 4.1-star rating from our research team. As a platform, Webull excels at pulling in headlines and fancy charts into desktop and app versions.
Webull offers trading in many of the major cryptocurrencies, including bitcoin, Ethereum and solana, to name a few, along with more than 70 additional digital assets. You can open an account with no minimum deposit and begin building a crypto portfolio with as little as $1. Although the minimum order size can be $2, depending on the transaction.
Webull officially resumed cryptocurrency trading in August 2025 after pausing the service in 2023 due to regulatory uncertainty. The company returned to the market following increased regulatory clarity around digital assets.
From a regulatory standpoint, Webull operates under compliance with the New York State Department of Financial Services (NYDFS). Because Webull is also a publicly traded company, it is subject to oversight by the U.S. Securities and Exchange Commission, so that’s a double nod in terms of the platform’s ability to act as an honest actor.
Since relaunching its crypto services, one major drawback is that you currently can’t transfer your crypto holdings off the platform. According to Webull, “Coin transfers are temporarily unavailable.” And that will remain so, while Webull works with a new crypto provider to improve the transfer system.
Pros and Cons
|
No minimum deposit to open an account |
High trading spread fee |
|
Trading crypto, ETFs and stocks within one account |
Unable to move crypto off the Webull platform |
|
Smaller number of cryptos compared to exchanges like Coinbase |
Consumer Sentiment Index
- 0–5 Poor
- 5–7 Fair
- 7–10 Good
-
#23Security Features
-
#19Fees and Costs
-
#20Customer Support
-
#12User Interface and Experience
-
#11Deposit and Withdrawal Process
On balance, experiences vary, with some appreciating the simplicity and educational benefits, while others find the crypto trading features lacking compared to other platforms.
Interactive Brokers
Commissions of 0.12% to 0.18%, depending on trade value
* Depending on monthly volume, with a $1.75 minimum commission per order.
20
No
Our Expert Review
Our testing concluded that Interactive Brokers (IBKR) is the top-performing crypto exchange for low fees, with a 3.8-star rating from our research team. IBKR has one of the simplest fee structures among our top picks. You’ll pay between 0.12% and 0.18% of the value of a trade.
IBKR’s trading platforms are also sophisticated and highly customizable.
But only 20 cryptos are available to be traded with IBKR—the lowest among all our picks. IBRK lacks key features like staking and supports a limited number of coins. But its relatively low fees and the platform’s integration with noncrypto asset trading make it a worthy contender.
IBKR is widely known for its suite of trading platforms, which tends to appeal to advanced traders in search of sophisticated tools. For traders who want to trade crypto and nondigital assets like stocks, options and more on the same platform, IBKR is a solid choice.
If you’re seeking to purchase crypto with ironclad, institutional-grade security, look no further than IBKR. Just keep in mind that you’re paying lower trading fees for access to a limited number of coins.
Pros and Cons
|
Simple fee structure |
Only 20 coins supported |
|
Sophisticated trading platforms |
No staking available |
Consumer Sentiment Index
- 0–5 Poor
- 5–7 Fair
- 7–10 Good
-
#9Security Features
-
#1Fees and Costs
-
#7Customer Support
-
#15User Interface and Experience
-
#8Deposit and Withdrawal Process
Interactive Brokers receives mixed reviews from users. Positively, customers appreciate the platform’s low fees, extensive global market access, robust trading tools, competitive margin rates and the ability to perform currency exchanges at favorable rates. Many users find the trading execution to be reliable and the platform suitable for advanced traders. That said, there are significant complaints about the complex and often confusing interface.
Uphold
Flat fee that depends on asset
(0.25% for most stablecoins; 1.80%-1.95% for BTC and ETH; 2.55%-3.10% for altcoins)
250+ crypto assets
Yes
Our Expert Review
Based on the results of our research, Uphold earned recognition as the best crypto exchange for alternative assets, with a 3.6-star rating from our research team. Uphold is best for those who want to trade a broad range of assets on one platform—tradable assets include cryptocurrencies, stocks and precious metals.
We like Uphold’s user-friendly trading platform and the ability to trade 250-plus crypto assets. There are 20-plus coins available to stake, which is a competitive offering. Also, Uphold’s video resources for beginning, intermediate and advanced traders are a plus.
Uphold charges a flat fee for trades, with most stablecoin trades requiring a low 0.25% fee in the U.S. For bitcoin or Ethereum, you’ll pay a higher fee between 1.80% and 1.95%. For altcoins, the fee will be between 2.55% and 3.10%.
While Uphold offers video courses so traders can gain knowledge no matter their level of experience, its customer service is limited. You can reach customer support via email, but not chat or phone.
Just note: If you’re a New York resident, you won’t be able to use Uphold.
Pros and Cons
|
250-plus coins available to trade |
Limited customer support avenues |
|
Educational videos for all levels |
Not available to New York residents |
Consumer Sentiment Index
- 0–5 Poor
- 5–7 Fair
- 7–10 Good
-
#13Security Features
-
#18Fees and Costs
-
#13Customer Support
-
#7User Interface and Experience
-
#14Deposit and Withdrawal Process
Uphold receives a blend of positive and negative feedback from users. Many appreciate the platform’s easy-to-navigate interface, ease of transactions and a wide variety of cryptocurrencies available for trading. Its security features and reliability in executing trades are often praised, with some users preferring it over other exchanges like Coinbase Exchange. That said, there are significant concerns regarding high fees, account restrictions without clear communication and poor customer support.
Most Popular is calculated from the number of times each affiliate product was selected by Forbes Advisor users over a six-month period.
Comparison: Best Crypto Exchanges
We compared crypto exchanges based on how many coins they offered as well as weighted offerings by access to “blue-chip” cryptos like Ethereum and bitcoin, as those two cryptos represent around two-thirds of the overall crypto market.
| Provider | Details |
|---|---|
 Coinbase Exchange
On Coinbase’s Secure Website
|
Ratings
Rating
Best For
Overall Exchange
Tradable Coins
400+
Bitcoin Available
✅
Ethereum Available
✅
|
|
On Bitstamp’s Website
|
Ratings
Rating
Best For
Best For Insuring Crypto Assets
Tradable Coins
160+
Bitcoin Available
✅
Ethereum Available
✅
|
|
On Kraken’s Website
|
Ratings
Rating
Best For
Best For Coin Selection
Tradable Coins
600+
Bitcoin Available
✅
Ethereum Available
✅
|
 Gemini
On Gemini’s Website
|
Ratings
Rating
Best For
Best For Regulatory Compliance
Tradable Coins
78
Bitcoin Available
✅
Ethereum Available
✅
|
 Crypto.com
On Crypto.com’s Website
|
Ratings
Rating
Best For
Best For Staking Options
Tradable Coins
400+
Bitcoin Available
✅
Ethereum Available
✅
|
|
Ratings
Rating
Best For
Best For Overall Satisfaction
Tradable Coins
190+
Bitcoin Available
✅
Ethereum Available
✅
|
|
|
On Robinhood’s website
|
Ratings
Rating
Best For
Best For Recurring Investments
Tradable Coins
80+
Bitcoin Available
✅
Ethereum Available
✅
|
|
Via Webull’s Website
|
Ratings
Rating
Best For
Best For Advanced Charting Tools
Tradable Coins
70+
Bitcoin Available
✅
Ethereum Available
✅
|
|
Via InteractiveBrokers’ Secure Website
|
Ratings
Rating
Best For
Best For Low Fees
Tradable Coins
20
Bitcoin Available
✅
Ethereum Available
✅
|
 Uphold
On Uphold’s Website
|
Ratings
Rating
Best For
Best For Alternative Assets
Tradable Coins
250+
Bitcoin Available
✅
Ethereum Available
✅
|
| Crypto Exchange | Star Rating | Best For | Tradable Coins | Bitcoin Available | Ethereum Available | Learn More |
|---|---|---|---|---|---|---|
 Coinbase Exchange
|
Rating
|
Overall Exchange
|
400+
|
✅
|
✅
|
On Coinbase’s Secure Website
|
|
Rating
|
Best For Insuring Crypto Assets
|
160+
|
✅
|
✅
|
On Bitstamp’s Website
|
|
|
Rating
|
Best For Coin Selection
|
600+
|
✅
|
✅
|
On Kraken’s Website
|
|
 Gemini
|
Rating
|
Best For Regulatory Compliance
|
78
|
✅
|
✅
|
On Gemini’s Website
|
 Crypto.com
|
Rating
|
Best For Staking Options
|
400+
|
✅
|
✅
|
On Crypto.com’s Website
|
|
Rating
|
Best For Overall Satisfaction
|
190+
|
✅
|
✅
|
||
|
Rating
|
Best For Recurring Investments
|
80+
|
✅
|
✅
|
On Robinhood’s website
|
|
|
Rating
|
Best For Advanced Charting Tools
|
70+
|
✅
|
✅
|
Via Webull’s Website
|
|
|
Rating
|
Best For Low Fees
|
20
|
✅
|
✅
|
Via InteractiveBrokers’ Secure Website
|
|
 Uphold
|
Rating
|
Best For Alternative Assets
|
250+
|
✅
|
✅
|
On Uphold’s Website
|
See More See Less
Compare Crypto Trading Fees
We compared crypto exchanges based on the cost of trading $1,000 to estimate how much you’re likely to spend on fees or spreads on each platform. For consistency, we used either the maker fee (lower than the taker fee), spread fee or flat fee at the lowest volume trading tier.
| Crypto Exchange | Transaction Fee for $1,000* Crypto Purchase | Cost of $1,000 Trade |
|---|---|---|
|
Coinbase Exchange
|
0.30%
|
$3.00
|
|
Bitstamp
|
0.30%
|
$3.00
|
|
Kraken
|
1.00%
|
$10.00
|
|
Gemini
|
0.60%
|
$6.00
|
|
Crypto.com
|
0.25%
|
$2.50
|
|
Binance.US
|
0.00% – 0.02%
|
$0.00 – $2.00 (other fees may apply)
|
|
Robinhood
|
0.50%
|
$5.00
|
|
Webull
|
1.00%
|
$10.00
|
|
Interactive Brokers
|
0.12% – 0.18%
|
$1.20 – $1.80
|
|
Uphold
|
0.25% for most stablecoins;
1.8%-1.95% for BTC and ETH; 2.55%-3.10% for altcoins |
$18.00-$19.50 (BTC, ETH);
$25.50-$31.00 (Altcoins) |
**For Binance’s Tier I trading pair fee structure.
See More See Less
Compare Crypto Exchanges by Regulations and Compliance
Crypto exchanges were compared based on whether they are regulated by the New York State Department of Financial Services or publicly traded (regulated by the U.S. Securities and Exchange Commission). Those regulatory bodies are a good benchmark for how well your money is protected and an indicator of platform transparency.
| Crypto Exchange | New York Department of Financial Services (NYDFS) Registration | Publicly Traded |
|---|---|---|
|
Coinbase Exchange
|
✅
|
✅
|
|
Bitstamp
|
✅
|
❎
|
|
Kraken
|
❎
|
❎
|
|
Gemini
|
✅
|
✅
|
|
Crypto.com
|
✅
|
❎
|
|
Binance.US
|
❎
|
❎
|
|
Robinhood
|
✅
|
❎
|
|
Webull
|
✅
|
✅
|
|
Interactive Brokers
|
✅
|
✅
|
|
Uphold
|
❎
|
❎
|
See More See Less
Consumer Sentiment Index of Best Crypto Exchanges
Forbes Advisor collects consumer sentiment by collecting customer feedback across the internet, using the Consumer Sentiment Index (CSI). This is how real customers described their opinion of the best crypto exchanges.
| Crypto Exchange | CSI | Likelihood to Recommend | Common Positive Sentiments | Common Negative Sentiments |
|---|---|---|---|---|
|
Coinbase Exchange
|
6.1
|
Somewhat likely / Neutral
|
Many appreciate the platform’s user-friendly interface and ease of transactions
|
Concerns about security, hidden fees and limitations on cryptocurrency access
|
|
Bitstamp
|
4.2
|
Somewhat unlikely
|
Users like Bitstamp for its security features and user-friendly interface
|
Customer support is frequently described as ineffective or slow, leaving many users frustrated and without resolution for extended periods
|
|
Kraken
|
7.1
|
Somewhat likely / Neutral
|
Good customer service, competitive fees and robust security measures
|
Dissatisfaction with the withdrawal of holdings
|
|
Gemini
|
5.0
|
Somewhat likely / Neutral
|
Customers find the platform functional, appreciating its ease of use and security features
|
Frustration with hidden fees, frozen accounts and transactions being delayed or blocked
|
|
Crypto.com
|
5.3
|
Somewhat likely / Neutral
|
Ease of use and perks like cash back on Visa cards
|
Considerable dissatisfaction due to high fees and widespread fees
|
|
Binance.US
|
6.8
|
Somewhat likely / Neutral
|
Users appreciate the low fees and wide selection of cryptocurrencies
|
Complaints often mention delayed responses, reliance on automated replies and poor issue resolution
|
|
Robinhood
|
4.3
|
Somewhat unlikely
|
Convenient for certain transactions
|
Complaints over hidden fees in price spreads
|
|
Webull
|
4.6
|
Somewhat unlikely
|
A user-friendly interface with educational features that benefit beginners
|
Crypto trading features lacking compared to other platforms
|
|
Interactive Brokers
|
6.1
|
Somewhat likely / Neutral
|
Customers appreciate the platform’s low fees, extensive global market access
|
Complaints about the complex and often confusing interface, cumbersome account setup and funding process
|
|
Uphold
|
6.0
|
Somewhat likely / Neutral
|
User-friendly interface, ease of transactions and a wide variety of cryptocurrencies
|
Difficulties accessing funds, leading to frustration and distrust among some users
|
See More See Less
How Do Cryptocurrency Exchanges Work?
Crypto exchanges work a lot like online brokerages. They give you a platform where you can place different types of orders to buy, sell or trade cryptocurrencies with other users.
There are two main types of exchanges: centralized and decentralized.
- Centralized Crypto Exchanges: These are similar to broker-dealers—except for crypto—and they’ll manage everything for you, from security to processing trades.
- Decentralized Crypto Exchanges: A DEX, on the other hand, isn’t centralized. It’s intended to be a peer-to-peer crypto marketplace that enables users to swap their crypto without an intermediary.
How Do I Choose the Right Crypto Exchange?
Before you choose a crypto exchange, there are several factors to consider. That said, the right crypto exchange for you will ultimately depend on your trading preferences, level of crypto knowledge and unique goals.
If you’re just starting out, choose a platform that feels simple. But also take time to understand why control of your digital wealth matters. Security, ease of use and support should all be part of your decision.
– JP Richardson, a crypto wallet provider who has written code used by bitcoin and cryptocurrency software.
Consider factors like these:
Features and usability. Consider the different order types available, as well as additional features like staking, accessing other awards and earning interest on cash balances. Additionally, try to get a sense of the trading platform(s) offered, and whether it suits your level of trading know-how.
Security. Before you entrust your assets to a crypto exchange, ensure that security is a priority for the company.
To protect your assets, you’ll want to do some research on past hacks and how the firm has remedied those security breaches. You’ll also want to check that measures like multifactor authentication, data encryption and confirmation requests for withdrawals are in place. Alternatively, you can store your crypto in one of the best crypto wallets, separate from the one the exchange offers.
Supported coins. Some exchanges offer more limited selections of coins than others. If there are specific currencies that you hope to trade, confirm that those coins are supported.
Fees. Whether it’s trading fees, deposit and withdrawal fees, or conversion fees, you’re going to have to pay to use a crypto exchange. You’ll want to make sure the fees charged by a specific exchange are reasonable, especially if you plan to trade often.
Availability. It’s common for even the largest crypto exchanges to have location-based restrictions. Before you set your mind to a specific exchange, confirm that it’s available to residents of your state. If the exchange is available in your state, certain features like staking may not be allowed.
Customer service. If you run into issues with a trade or during the deposit or withdrawal process, you’ll want to be able to easily reach a customer service representative who can help. Find out what methods of customer support an exchange offers and its hours of operation.
Customer reviews. Even if an exchange seems perfect on paper—or on its website—it’s worth reading on existing customers’ actual experiences. It’s always a good idea to look up customer ratings and reviews to see if there are ongoing technical, security or customer service-related issues.
How Do I Open a Crypto Exchange Account?
To open a crypto exchange account, visit the exchange website or download its app.
Each crypto exchange has its own unique registration process. With some, you may be able to make an account and buy and sell small amounts of crypto without verifying your identity or submitting much sensitive information.
But as the industry has evolved, the U.S. government has introduced certain Know Your Customer regulations to prevent money laundering and fraud.
In general, you’ll need to provide:
- Name
- Date of birth
- Mailing address
- Social Security number
You may also have to verify your identity by submitting a photo or scan of a government-issued ID.
Frequently Asked Questions (FAQs)
What are the largest crypto exchanges?
Binance.US are Coinbase Exchange are among the largest crypto exchanges by trading volume.
How much money do you need to buy crypto?
Depending on the cryptocurrency you’re interested in, different rules may apply. In many cases, you can purchase fractional shares of coins like bitcoin or Ethereum. Be sure to check your chosen crypto exchange’s requirements for the coin you want to buy.
How do cryptocurrency exchanges make money?
Cryptocurrency exchanges generate revenue in several ways. They may charge transaction and trading fees, earn interest by lending crypto to traders, collect listing fees for tokens or coins added to their platform or profit through market making by providing liquidity. Many exchanges rely on a combination of strategies.
What are maker and taker fees?
Maker and taker fees are common in crypto trading and refer to two types of traders.
Makers: A maker is someone who places a crypto order that hinges on specific criteria. For instance, an individual may decide to sell some of their assets when the price reaches a certain threshold. Therefore, the trade doesn’t happen immediately. Instead, the sale occurs on a future date when the criteria are met.
Takers: A taker places a crypto order that is executed immediately. For instance, an individual may decide to buy a certain amount of BTC today.
Makers and takers are given these designations because one trader makes a given asset available to other traders (by holding off on trade execution) while the other trader takes away liquidity from the market by executing a trade immediately.
Based on the type of crypto order you make, you’ll be charged a fee by the exchange. While these fees differ across exchanges, a maker fee is generally lower than a taker fee since makers are adding liquidity to the market instead of taking that liquidity away.
How much money do I need to deposit to use a crypto exchange?
The minimum amount you will need to deposit to use a crypto exchange differs according to the specific exchange’s policies. Some exchanges let you set up an account with no minimum deposit, while others require small deposits of $10 or $50.
Trading crypto requires certain minimum order sizes, generally equaling a small amount of that asset. These minimums depend on the currency and are usually listed on the exchange’s website.