Updated August 18, 2022 5:16 AM PT

Best Cryptocurrency Exchange

Read more about Crypto
Ad Disclosure: This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. You help support CreditDonkey by using our links. (read more)

Want to invest in crypto? The right platform can help you start trading. Here are the best exchanges to safely buy bitcoin and other cryptos.

The world of cryptocurrency is constantly changing.

This can be an exciting—but risky—investment. Choosing a cryptocurrency exchange is the first challenge you'll have to overcome.

What's the best way to get into crypto? And which exchanges are actually worth the fees?

Check out the top 10 trustworthy crypto exchanges to start investing safely and securely. Plus, compare the coins supported on each platform.

10 Best Cryptocurrency Exchanges and Platforms

Top-Rated Crypto Exchanges for 2022

Good for Beginners
eToro
Visit Site

eToro

  • Cryptocurrencies Supported: 67 (24 in the US)
  • Fiat Currencies Supported: USD, EUR, GBP, JPY, AUD, CAD, CHF, NZD, ZAR, RUB, CNH, NOK, SEK, TRY, MXN, SGD, PLN, HUF, CZK, RON
Pros:
  • Copy actions of top traders
  • Virtual practice account
Cons:
  • Slow customer service response time

Our Review: eToro is a cryptocurrency trading platform known for its popular CopyTrading feature. Find out if it's worth the fees and how it compares to other platforms... Read full review

Best Bonus
BlockFi
Visit Site

BlockFi

  • Cryptocurrencies Supported: Bitcoin, Ethereum, Litecoin, Chainlink, PAX Gold, USDC, Binance USD, PAX, GUSD, BAT, DAI, UNI
  • Fiat Currencies Supported: USD
Pros:
  • Earn crypto rewards
  • No commissions (only charges a spread)
  • Excellent customer service
Cons:
  • Only supports 8 coins
  • Withdrawal restrictions
  • Slow withdrawal times (up to 7 days)

Our Review: BlockFi lets you buy, sell, earn and borrow cryptocurrency. But is it safe? Read on to find out... Read full review

Earn Interest on Crypto
Nexo
Visit Site

Nexo

  • Cryptocurrencies Supported: BTC, ETH, LTC, XRP, EOS, XLM, BCH, USDT, USDC, USDP, TUSD, DAI, USDX, EURX, GBPX, DOT, BNB, LINK, TRX, PAX Gold, ADA, SOL, DOGE, AVAX, AXS, MATIC, LUNA
  • Fiat Currencies Supported: Over 40
Pros:
  • Good APY
  • Comprehensive mobile app
  • Advanced security features
Cons:
  • Limited educational tools

Our Review: Nexo offers a way to earn interest on your crypto holdings, borrow cash or stablecoins, and spend your crypto in the real world. But is it safe?... Read full review

Good for Security
Gemini
Visit Site

Gemini

  • Cryptocurrencies Supported: 120+
  • Fiat Currencies Supported: USD, AUD, CAD, EUR, GBP, SGD, HKD
Pros:
  • Beginner friendly
  • Security-focused
  • Competitive fees
Cons:
  • Moderate selection of coins
  • No margin trading

Our Review: Gemini is a cryptocurrency exchange for investors who prioritize security. Find out if it's as safe as they claim and how it stacks up to other exchanges... Read full review

Good for Stock and Crypto Investing
Robinhood
Visit Site

Robinhood

  • Cryptocurrencies Supported: ETC, ETH, BSV, BCH, BTC, DOGE, LTC, COMP, MATIC, SOL, SHIB
  • Fiat Currencies Supported: USD
Pros:
  • Commission-free trades
  • No minimum
  • Extended trading hours
Cons:
  • No IRAs
  • Limited research
  • No mutual funds & bonds

Our Review: Robinhood lets you trade stocks commission-free and has no account minimums. Is it safe? Are there hidden fees? Read on for the pros and cons... Read full review

Good for No Trading Fees
Webull
Visit Site

Webull

  • Cryptocurrencies Supported: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, Zcash, Stellar Lumens, Ethereum Classic, Cardano, Dash
  • Fiat Currencies Supported: EUR, USD, GBP, JPY, CHF, AUD, CAD, HKD, CNY, INR, CNH
Pros:
  • No trade fees
  • Advanced research tools
  • Extended trading hours
  • Offers fractional shares
Cons:
  • Not beginner friendly

Our Review: Webull offers $0 trades for stocks, ETFs, options, and cryptocurrencies. But it's not perfect. Find out if Webull fits your investing needs... Read full review

Good for Low Fees
Binance US
Visit Site

Binance US

  • Cryptocurrencies Supported: 120+
  • Fiat Currencies Supported: USD
Pros:
  • Extremely low fees
  • Over 120 coins
  • High liquidity
Cons:
  • Not beginner-friendly
  • Limited staking
  • Not available in all 50 states

Our Review: Binance.US is the American arm of one of the largest crypto exchanges in the world. How does it compare to Binance and other popular exchanges?... Read full review

Best Crypto IRA
iTrustCapital
Visit Site

iTrustCapital

  • Cryptocurrencies Supported: Cardano, Basic Attention, Enjin, Algorand, Cosmos, Tezos, Curve DAO, Solana, Aave, Polygon, yearn.finance, Sushi, Compound, Uniswap, Stellar, EOS, Bitcoin Cash, Dogecoin, Litecoin, Polkadot, Chainlink, Ethereum, Bitcoin, Avalanche, Maker, Shiba Inu, Decentraland, Axie Infinity
  • Fiat Currencies Supported: USD
Pros:
  • Tax-free or tax-deferred trading
  • Low trading fees
  • Trade precious metals
Cons:
  • Limited research tools

Our Review: iTrustCapital is a self-directed IRA provider which lets you trade in cryptocurrencies and precious metals. Is it a legit option for your retirement account?... Read full review

Good for NFTs
Crypto.com
Visit Site

Crypto.com

  • Cryptocurrencies Supported: BTC, CRO, ETH, XRP, LTC, EOS, XLM, USDC, ATOM, LINK, XTZ, BCH, VET, ICX, ADA, ENJ, ALGO, KNC, NEO, DAI, PAXG, BAT, COMP, OMG, MANA, QTUM, CELR, MKR, UNI, YFI, BAND, EGLD, WBTC, AAVE, DOT, REN, ONT, LRC, CRV, ZIL, GRT, BNT, KSM, SKL, NEAR, SNX, BAL, STX, DOGE, UMA, FLOW, SAND, ZRX, FIL, THETA, ANKR, MATIC, CHZ, OCEAN, WAVES, RLY, STORJ, HOT, 1INCH
  • Fiat Currencies Supported: Over 20
Pros:
  • Wide variety of altcoins
  • Extensive features
  • Excellent security
Cons:
  • Crypto loans not available in USA
  • Slow customer service

Our Review: Crypto.com is a one-stop shop for everything crypto—from Bitcoin to NFTs, they've got pretty much everything. But is it legit?... Read full review

Good for Trading Crypto for Crypto
Uphold
Visit Site

Uphold

  • Cryptocurrencies Supported: Over 200
  • Fiat Currencies Supported: USD, EUR, GBP, AED, ARS, AUD, BRL, CAD, CHF, CNY CZK, DKK, HKD, HRK, HUF, ILS, INR, JPY, KES, MXN, NOK, NZD, PHP, PLN, RON, SEK, SGD
Pros:
  • Trade between assets classes
  • $10 minimum
  • 184 countries
Cons:
  • Trading fees can be higher
  • Equities not available in US

Our Review: Uphold claims you can trade "anything to anything" - from crypto to gold to stocks and forex. But are they legit? Read this review to learn more... Read full review

Good for Professionals
Bitstamp
Visit Site

Bitstamp

  • Cryptocurrencies Supported: BTC, ETH, USDT, XRP, USDC, UNI, BCH, LINK, LTC, MATIC, XLM, FTT, DAI, ALGO, AAVE, GRT, MKR, COMP, CHZ, SUSHI, ENJ, YFI, SNX, BAT, OMG, PAX, AUDIO, ZRX, CRV, UMA, ALPHA, KNC, GUSD, ETH2, ETH2R, EURT
  • Fiat Currencies Supported: USD, GBP, EUR, AUD, CAD, CHF, DKK, HRK, JPY, NOK, SEK
Pros:
  • Expert Trading Platform
  • High Liquidity
  • Reasonable Fees
Cons:
  • Not Beginner-Friendly
  • Somewhat Limited Range of Coins

Our Review: Bitstamp is a cryptocurrency exchange with options for both retail and institutional traders. But is it the right platform for you? Keep reading to find out... Read full review

Screenshot of Coinbase

Coinbase is one of the largest crypto exchanges with over 98 million users. It offers a beginner-friendly interface that allows users to buy and sell crypto, track the market, and manage their portfolios.

But Coinbase's ease-of-use comes at a price. Their trading fees are higher than many other exchanges. Review the fees below to decide if the cost is a fair trade-off for you.

Fees[1]

  • Spread: 0.50%
  • Transactions: $0.99 - $2.99 (for $200 or less)
  • Minimum Deposit: $2
  • Payment with U.S. bank account: 1.49%
  • Purchase with Coinbase USD Wallet: 1.49%
  • Purchase with debit cards: 3.99%
  • Conversions: up to 2%

Supported Coins
Coinbase supports over 150 different types of cryptocurrencies.[2] The minimum trading amount is $2.[3]

List of supported coins on Coinbase:
  • 0x
  • Aave
  • Algorand
  • Ankr
  • Augur
  • Balancer
  • Bancor Network Token
  • Band Protocol
  • Basic Attention Token
  • Bitcoin
  • Bitcoin Cash
  • Cardano
  • Celo
  • Chainlink
  • Civic
  • Compound
  • Cosmos
  • Curve DAO Token
  • Dai
  • Dash
  • Decentraland
  • district0x
  • EOS
  • Ethereum
  • Ethereum Classic
  • Filecoin
  • Kyber Network
  • Litecoin
  • Loopring
  • Maker
  • NuCypher
  • Numeraire
  • OMG Network
  • Orchid
  • Polygon
  • Ren
  • SKALE
  • Stellar Lumens
  • Storj
  • SushiSwap
  • Synthetix Network Token
  • Tezos
  • The Graph
  • UMA
  • USD Coin
  • Uniswap
  • Wrapped Bitcoin
  • yearn.finance
  • Zcash

Why choose Coinbase?
The simple user interface won't overwhelm newbies. It also has a learning program that lets you earn pieces of cryptos as you complete mini-lessons. You can earn up to $167 worth of crypto.

Coinbase Pros & Cons

  • Beginner-friendly
  • Wide range of coins
  • Widely available
  • High-level security
  • High fees
  • No private keys
  • No phone support

For more experienced crypto traders, Coinbase Pro is the advanced trading platform. It lets you place advanced order types and has lower trading fees.

Screenshot of Etoro

eToro is popular exchange best known for their focus on "social trading." On eToro's platform, you can view other users' portfolios, collaborate, and discuss strategy.

Their standout feature is the CopyTrader tool, which allows you to copy the actions of top-performing traders. If you like their performance metrics, you can choose to automatically copy their exact trades.

Fees

  • Trade fee: 1% fee for buying or selling crypto[4]
  • Transactions: None
  • Minimum Deposit: $10 ($200 to start copy trading)
  • Purchases: None
  • Conversions: 0.10%

Supported Coins
eToro supports roughly 24 of the most popular coins.[5]

List of supported coins on eToro:
  • Aave
  • Bitcoin
  • Bitcoin Cash
  • Cardano
  • Chainlink
  • Compound
  • Dash
  • Decentraland
  • Dogecoin
  • EOS
  • Ethereum
  • Ethereum Classic
  • Iota
  • Litecoin
  • NEO
  • Ripple
  • Stellar
  • Tezos
  • Tron
  • Uniswap
  • Yearn.finance
  • ZCash

Why choose eToro?
Like Coinbase, eToro is great for beginners and is fairly user-friendly. But eToro stands out for offering more opportunities to learn about trading strategy with their CopyTrading feature.

You can also get a $100,000 fake portfolio to practice your strategy before committing real money.

eToro Pros & Cons

  • Copy actions of top traders
  • Virtual practice account
  • Slow customer support

For investors who are performing well, you can apply to be part of the Popular Investor program. Then you get paid every time a user copies you.

eToro

Deposit $100 and Get $10

For a limited time, you can get $10 when you deposit $100 in your eToro account. Here's how:
  1. Sign up for an eToro account
  2. Deposit $100
  3. Explore stocks, ETFs, and crypto
You'll automatically receive $10 directly to your account balance. eToro USA LLC; Virtual currencies are highly volatile. Your capital is at risk.
Expires 12/31/2022

Screenshot of Blockfi

BlockFi is not just a cryptocurrency exchange, they also offer crypto interest accounts, crypto-backed loans, and a Rewards Visa card.

Fees[6]

  • Spread: 0.7% - 1.5%
  • Transactions: None
  • Minimum Deposit: $0
  • Purchase with debit card: None
  • Purchase with bank account: None
  • Conversions: None
  • Withdrawals: Vary by coin (0.00075 BTC, 0.015 ETH, 0.001 LTC)

Supported Coins
BlockFi currently supports BTC, ETH, LTC, USDC, USDT, GUSD, BUSD, PAX, PAXG, BAT, DAI, and UNI.

Why choose BlockFi?
BlockFi earns major points for having reasonable fees and an impressive variety of offerings, like interest accounts and Visa cards. If you're looking for a platform that emphasizes the "currency" aspect of cryptocurrency, BlockFi is a solid choice.

BlockFi Pros & Cons

  • Loans + Visa card
  • Withdrawal restrictions
  • Slow withdrawal times (up to 7 days)
  • Limited coins available
  • U.S. customers can't access interest-earning account

BlockFi

Get Up to $250 in Bonus BTC

DepositCrypto Bonus
$100 - $1,499$15
$1,500 - $19,999$20
$20,000 - $39,999$40
$40,000 - $74,999$75
$75,000 - $99,999$100
$100,000+$250

Screenshot of Gemini

Gemini's #1 priority is security. Self-described as the "safest crypto exchange", they offer an all-in-one platform to buy and sell, manage your portfolio, store, and pay with your digital coins.

Gemini offers a basic platform for beginners, as well as an ActiveTrader platform for advanced investors.

Besides buying and selling crypto on the exchange, you can also negotiate trades off the exchange with other Gemini accounts. Gemini helps broker the exchange to mitigate risk.

Fees[7]

  • Spread: 0.50%
  • Transactions: $0.99 - 1.49%
  • Minimum Deposit: $0
  • Purchase by debit card: 3.49%[8]
  • Conversions: ($0.99 - 1.49%)
  • Withdrawals: Cryptocurrency withdrawals are free for up to 10 coins / month; further withdrawals vary by currency[9]

Supported Coins
Gemini supports over 120 cryptocurrencies and stablecoins, including the most popular coins.[10]

List of supported coins on Gemini:
  • 0x
  • 1inch
  • Aave
  • Amp
  • Balancer
  • Bancor Network
  • Barnbridge
  • Basic Attention Token
  • Bitcoin
  • Bitcoin Cash
  • Chainlink
  • Compound
  • Curve
  • Dai
  • Decentraland
  • Dogecoin
  • Enjin Coin
  • Ethereum
  • Filecoin
  • Gemini Dollar
  • Injective Protocol
  • Kyber Network
  • Litecoin
  • Livepeer
  • Loopring
  • Maker
  • Orchid
  • PAX Gold
  • Polygon
  • Ren
  • Skale
  • Somnium Space
  • Storj
  • Sushiswap
  • Synthetix
  • The Graph
  • The Sandbox
  • Uma
  • Uniswap
  • Yearn.finance
  • Zcash

Why choose Gemini?
If security is your #1 concern, there are few (if any) choices better than Gemini. You'll pay slightly higher fees but, for some, that may be worth it. U.S. traders can also take advantage of more of Gemini's features than international traders.

Gemini Pros & Cons

  • Beginner-friendly
  • Security-focused
  • Competitive fees
  • Moderate selection of coins
  • No margin trading

Eager to spend your coins? Gemini allows you to pay with your crypto at more than 30,000 popular retailers across the U.S. via their mobile app.

Screenshot of Robinhood

Robinhood, the popular micro-investment app, also allows you to trade crypto with no trading fees. This is a big pro since crypto exchanges usually charge a fee.

One important downside: Currently, Robinhood does not support coin withdrawals. You can buy and sell your coins, but you don't actually get access to your wallet. According to Robinhood, this feature is in the works.

Fees[11]

  • Spread: Undisclosed
  • Transactions: None
  • Minimum Deposit: $0
  • Purchases: None
  • Conversions: None
  • Withdrawals: Not supported for crypto

Supported Coins
There are 11 cryptocurrencies available for trading on Robinhood: Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic, Litecoin, Compound, Polygon, Solana,and Shiba Inu.

Why choose Robinhood?
If you already have an account with Robinhood and are still unsure about crypto, this may be a decent option. It's simple app makes it good for beginners.

Robinhood Pros & Cons

  • Commission-free
  • Trade stocks, ETFs, and options
  • U.S. only
  • Small selection of coins
  • Can't withdraw crypto

Robinhood

Buy and Sell Cryptocurrency

Robinhood Crypto offers commission-free cryptocurrency investments 24/7. Some of the cryptocurrencies available are Bitcoin, Dogecoin, Ethereum, and Litecoin. This offer is currently available to selected states.

Screenshot of Webull

Webull is another brokerage that added cryptocurrencies later (as of November 2020).

On Webull, you can trade stocks, ETFs, options, and crypto with no trading fees. You can buy and sell crypto starting from $1.

Your trades are instantly settled, and you can trade 24/7. Just like Robinhood, you're not able to withdraw coins.

Fees[12]

  • Spread: Undisclosed
  • Transactions: None
  • Minimum Deposit: $0
  • Purchases: None
  • Conversions: None
  • Withdrawals: Not supported for crypto

Supported Coins
Webull supports over 41 different cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.[13]

Why choose Webull?
Similar to Robinhood, it's best to choose this option if you already have a Webull account and just want to try crypto out.

Webull Pros & Cons

  • No trade fees
  • Advanced research tools
  • Extended trading hours
  • Offers fractional shares
  • Not beginner-friendly

Webull

Get Two Free Stocks, Each Valued Between $3 - $300

Expires 8/31/2022

Open a Webull brokerage account and get two free stocks, each valued between $3-$300

Screenshot of Kraken

The Kraken is a cryptocurrency exchange with a reputation for reasonable fees and high security. It's also intuitive enough to get started trading pretty quickly.

But where Kraken really shines is the leveraged trading options for advanced traders. They offer up to 5x margin trading and futures investing up to 50x leverage. [14]You can even short cryptos. Just beware that these are riskier strategies, but have higher reward potential.

Fees[15]

  • Transactions: 0.00% - 0.26%
  • Minimum Deposit: $10
  • Purchase by debit card: 3.75% + €0.25
  • Purchase by bank account: 0.5% + $0.10
  • Conversions: 1.5% or 0.9% for stablecoins
  • Withdrawals: Varies by coin

Supported Coins
Kraken supports over 160 different cryptocurrencies.[16]

List of supported coins on Kraken:
  • Aave
  • Algorand
  • Aragon
  • Augur
  • Augur v2
  • Balancer
  • Basic Attention Token
  • Bitcoin
  • Bitcoin Cash
  • Cardano
  • Chainlink
  • Compound
  • Cosmos
  • Curve
  • DAI
  • Dash
  • Decentraland
  • Dogecoin
  • EOS
  • Energy Web Token
  • Enzyme Finance
  • Ethereum
  • Ethereum 2
  • Ethereum Classic
  • Filecoin
  • Flow
  • Gnosis
  • ICON
  • Kava
  • Keep Network
  • Kusama
  • Kyber Network
  • Lisk
  • Litecoin
  • Monero
  • Nano
  • OMG Network
  • Ocean Protocol
  • Orchid
  • PAX Gold
  • Polkadot
  • Qtum
  • Ripple
  • Siacoin
  • Stellar
  • Storj
  • Synthetix Network Token
  • tBTC
  • Tether
  • Tezos
  • The Graph
  • Tron
  • USD Coin
  • Uniswap
  • Waves
  • yearn.finance
  • Zcash

Why choose Kraken?
Kraken is probably best for investors who aren't completely new to crypto. There may be too much of a learning curve for true newbies. If you're ready to dive deep into crypto and want a good selection of coins, Kraken's a good choice.

Kraken Pros & Cons

  • Competitive fees
  • Advance market trading
  • Many trading pairs
  • Not as beginner-friendly
  • Difficult to fund account

Screenshot of Binance

Binance.US supports over 100 different cryptos. It's especially good if you want to trade altcoins and cryptocurrency pairs.

It offers basic and advanced platforms based on your experience. But newbies may find that even the basic platform is not as beginner-friendly.

Fees[17]

  • Spread: 0.01 - 0.92%, depending on the coin
  • Transactions: 0.10% - 0.50%
  • Minimum Deposit: $0 ($10 Trade Minimum)
  • Purchase by debit card: 3.5% or $10 - 4.5%
  • Conversions: Free for USDC to BUSD
  • Withdrawals: Vary by coin

Supported Coins
Binance.US (the American arm of Binance) has fewer coins than regular Binance, but they still offer over 100 coins to choose from.

List of supported coins on Binance:
  • 0x
  • Algorand
  • Augur v2
  • Band Protocol
  • Basic Attention Token
  • Bitcoin
  • Bitcoin Cash
  • BNB
  • BUSD
  • Cardano
  • Chainlink
  • Compound
  • Cosmos
  • DAI
  • Dash
  • Decentraland
  • Dogecoin
  • Elrond
  • Enjin Coin
  • EOS
  • Ethereum
  • Ethereum Classic
  • Harmony
  • Hedera Hashgraph
  • Helium
  • Horizen
  • ICON
  • KyberNetwork
  • Litecoin
  • Maker
  • Matic Network
  • MIOTA
  • NANO
  • NEO
  • OMG Network
  • Ontology
  • Orchid
  • PAX Gold
  • QTUM
  • Ravencoin
  • Solana
  • Stellar Lumens
  • Storj
  • TetherUS
  • Tezos
  • Uniswap
  • USD Coin
  • VeChain
  • VeThor Token
  • Waves
  • Zcash
  • Zilliqa

Why choose Binance?
Binance fees are much lower than some other crypto exchanges, making it a good option for those trading often. However, it's best to look at other options if you're very new to crypto as this platform is geared towards traders with more experience.

Binance Pros & Cons

  • Wide range of coins
  • Lower fees
  • Secure Asset Fund for users
  • Not as beginner-friendly
  • Not available in all states
  • Slow customer service

Binance is the largest exchange in the world in terms of daily trading volume, but the global platform is no longer available to American users. Binance.US does not currently support users in HI, NY, TX, and VT.[18]

Binance US

Buy and Sell Cryptocurrency

Trade over 50 cryptocurrencies with low trading fees.

Screenshot of iTrustCapital

iTrustCapital lets you trade and invest in cryptos for your retirement in an IRA account. This lets your gains grow tax-deferred or tax-free (depending on which type of IRA you choose).

The minimum opening deposit is $1,000.

Fees[19]

  • Spread: None
  • Transactions: 1% per trade
  • Minimum Deposit: $1,000
  • Purchases: None
  • Conversions: None
  • Withdrawals: Standard IRA withdrawal fees apply

Supported Coins
iTrustCapital offers just over 20 of the most popular cryptocurrencies.[20]

List of supported coins on iTrustCapital:
  • Aave
  • Algorand
  • Basic Attention Token
  • Bitcoin
  • Bitcoin Cash
  • Cardano
  • Chainlink
  • Compound
  • Curve DAO
  • Dogecoin
  • Enjin
  • Eos
  • Ethereum
  • Gold
  • Litecoin
  • Polkadot
  • Polygon (Matic)
  • Silver
  • Solana
  • Stellar
  • Sushi
  • Uniswap
  • yearn.finance

Why choose iTrustCapital?
If you are considering adding cryptocurrency to your retirement portfolio, iTrustCapital is a good place to do it, compared with similar self-directed IRA providers. Just be aware of the risks involved in doing this. iTrustCapital is also best for those interested in investing in popular coins long-term.

iTrustCapital Pros & Cons

  • Tax-free or tax-deferred trading
  • Low trading fees
  • Can also trade precious metals
  • Limited coins
  • Limited research tools

You can transfer an existing IRA or rollover an employer retirement plan. If you already have a crypto IRA, you can even do an in-kind transfer without liquidating your cryptos.

Coinmama is aimed toward beginner crypto investors. The buying process is made simple. And there's a support team to help at any time.

The biggest pro about Coinmama is the many payment options. You can buy coins with bank transfer, credit card, debit card, or Apple pay.

However, the fees are expensive. Review the fees below to see if it's worth it for you.

Fees[21]

  • Spread: 2%
  • Transactions: 2.93% - 3.90%
  • Minimum Deposit: $100 to Buy or Sell
  • Purchase by debit card: 5% added express fee
  • Purchase by bank account: Free

Supported Coins
Coinmama only supports over 10 cryptocurrencies:[22] Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Cardano, Ethereum Classic, Tezos, and Eos.

Why choose Coinmama?
Coinmama is easy to use, easy to sign up for, and widely available internationally. They are a non-custodial exchange, meaning you don't have to worry about them running off with your money.

However, their fees are high and their features are few. Weigh your priorities to decide if Coinmama is right for you.

Coinmama Pros & Cons

  • Beginner-friendly
  • Non-custodial exchange
  • Many buying options
  • High fees
  • Limited range of coins
  • No research tools

What is a cryptocurrency exchange?

A cryptocurrency exchange is a digital platform where people buy, sell and trade cryptocurrencies.

Crypto exchanges are like online brokerages: both let you fund your account with fiat currency and use it to buy assets. You can also trade one cryptocurrency for another.

Exchanges make money by charging you fees when you make a deposit or withdrawal. Many also charge commissions on your trades, but some are known for being commission-free.

You can usually "store" your crypto with the exchange, which gives the exchange full custody of your assets. This comes with some security concerns and makes the withdrawal process longer. For that reason, many people transfer their crypto off the exchange and onto a wallet.

Read more: The Best Cryptocurrency Wallets (Hot and Cold Wallets)

A cryptocurrency exchange is a platform where users can buy, sell, and trade cryptocurrencies. Users can deposit fiat currencies (USD, EUR, CNY, etc.) from their banks, and use them to buy crypto.

They can also trade cryptocurrencies between one another, like from Bitcoin to Ethereum. Users can sell their cryptocurrencies and be paid in fiat, or withdraw them into crypto wallets.

Exchanges typically earn money by taking the difference between the bid and the asking price, a cost which is not normally visible to the user, and from fees, which vary widely from one exchange to another.

Types of Cryptocurrency Exchanges

Not all cryptocurrency exchanges work the same way. Here are the different types.

  • Centralized exchanges
    Centralized exchanges are regulated by a middleman that conducts the transactions. The exchange holds your coins and keep them safe (just like how a bank holds your money). These sites will require identity verification.

    This is the most common way to trade cryptos. These exchanges have high activity and liquidity.

    Examples of centralized exchanges include Coinbase, Gemini, and Kraken.

  • Decentralized exchange
    These exchanges are not regulated by any official authority, thus often called a "trustless environment." Users get full control of their coins. Users can directly trade coins with each other without a middleman. They focus more on anonymity.

    We don't have any of these exchanges on our list, as they're better suited for more experienced traders.

  • Brokerages
    You can now even trade crypto coins with some online stock brokerages (like Robinhood and Webull). This is a great option if you want to have your stock trading and crypto trading under one broker.

    But the downside is that they're not digital wallets and you usually cannot withdraw coins to use.

What's the difference between an exchange and a broker? While both brokers and exchanges are places you can buy and sell cryptocurrency, they aren't exactly the same. An exchange is a platform where buyers and sellers set the prices, and the platform's job is to connect them. Meanwhile, when you buy from a broker, you're actually using a middle man to complete the transaction. The broker both buys and sells crypto, then sets the price they are willing to trade at based on market rates. While many of the services they offer overlap, and it's fine to use either, exchanges are typically used more by retail and long-term investors, while speculators and short-term investors tend to prefer brokers.

What to Look for in a Crypto Exchange

Cryptocurrencies SupportedTransaction Fee
eToro67 (24 in the US)1% fee for buying or selling crypto. 0% commission for buying or selling stocks and ETFs.
BlockFiBitcoin, Ethereum, Litecoin, Chainlink, PAX Gold, USDC, Binance USD, PAX, GUSD, BAT, DAI, UNINo
Gemini120+$0.99 - 1.49%
RobinhoodETC, ETH, BSV, BCH, BTC, DOGE, LTC, COMP, MATIC, SOL, SHIBNo
WebullBitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, Zcash, Stellar Lumens, Ethereum Classic, Cardano, DashNo
Binance US120+0.10% spot trading fee or 0.50% instant buy/sell fee
iTrustCapitalCardano, Basic Attention, Enjin, Algorand, Cosmos, Tezos, Curve DAO, Solana, Aave, Polygon, yearn.finance, Sushi, Compound, Uniswap, Stellar, EOS, Bitcoin Cash, Dogecoin, Litecoin, Polkadot, Chainlink, Ethereum, Bitcoin, Avalanche, Maker, Shiba Inu, Decentraland, Axie Infinity
  • Cryptocurrency: 1% per trade
  • Gold: $50 over spot (market price)
  • Silver: $2.50 over spot
Coinmama10+2.93% - 3.90%

  • Security
    Make sure the site has strong security features to keep your money and information safe. See how your coins are stored. Cold storage means your coins are stored offline, which prevents hackers from being able to get to them.

  • Types of coins
    Do you already know what coins you want to trade/invest in? Make sure the platform you choose supports that currency. Popular crypto like Bitcoin, Ethereum, and Litecoin are available on just about all sites. But the smaller coins won't be available everywhere.

  • Fees
    Most crypto exchanges charge a fee per trade. If you plan to actively trade, you may want to pick a site with lower fees. If you're just buying and holding, it won't matter as much.

  • Ability to withdraw
    This is important if you want to be able to withdraw your coins and actually use them. If so, look for an exchange combined with crypto wallet. If you're investing through a broker (like Robinhood or Webull), you won't be able to withdraw into a coin wallet.

  • Ease of use
    Beginners will want to look for a platform with a simple user interface. More experienced investors will want a more advanced platform and extra features.

How to Invest in Bitcoin

Investing in Bitcoin for the first time may seem daunting, but the process is actually very simple.

The first step is to choose a cryptocurrency exchange. Beginners may want to go with an easy to use option like Coinbase, even if it's a little more expensive. Gemini and eToro are also good options for new investors.

Once you've signed up and verified your identity, a process that varies slightly between exchanges, you'll be able to fund your account with fiat currency. Then all that's left is to buy Bitcoin, which can usually be done via a simple 'buy' or 'order' button.

The Bitcoin will be transferred to your account, and you'll be a successful Bitcoin investor.

How to Deposit USD to Buy Bitcoin

When it comes to funding your account for Bitcoin purchases, you have a number of options. Not all of them are available on every exchange, and the fees they charge may vary.

  • ACH Transfer: Before you can transfer funds, you'll need to verify your bank account, which can be done through exchange apps or desktop websites. Once your account is connected, you can deposit USD to purchase Bitcoin. It may take 3-5 business days for your funds to become available.

  • Wire Transfer: The process for wire transfers is nearly the same as ACH transfers. You connect a bank account to your exchange, then select wire transfer to initiate a deposit. Funds wired before 1:00pm PT will be available the same day; funds wired afterwards will become available the next business day.

  • Debit or Credit Card: Some exchanges will allow you to deposit via debit or credit card. Those that do will request your card and personal information to initiate a deposit. It's worth noting that some banks may charge additional fees for credit card deposits.

Cryptocurrency Exchanges vs Cryptocurrency Wallets

If you've been learning about investing in crypto, chances are you've come across the terms 'cryptocurrency exchange' and 'cryptocurrency wallet,' and you may have wondered how they differ.

  • Exchanges are platforms to buy, sell, and trade cryptocurrency. They may offer a storage service to users who trade on them, but storage isn't their main function.

  • Wallets, on the other hand, typically offer storage only. Their whole purpose is to keep your crypto safe. And since there is no such thing as a crypto bank account, your only real choices are putting it in a wallet or leaving it on the exchange.

    While some exchanges are insured, unless you're using an interest account or staking, best practices dictate that users keep their crypto in a wallet they personally control, because exchanges are very appealing targets for hackers and thieves.

There are two main kinds of wallets: 'hot,' or digital wallets, and 'cold,' physical wallets.

  • Hot wallets are widely available online, and are connected to the internet. They generally accept more cryptocurrencies, but are less secure.

  • Cold wallets, which typically resemble USBs, are not connected to the internet, are more secure, but typically support fewer currencies.

Cryptocurrency Survey: What Americans Want

Americans are more likely to own crypto than stocks, according to a May 2021 survey of over 1,000 Americans by CreditDonkey. 72.5% of respondents reported owning some form of cryptocurrency, but only 63.89% owned stocks.

Stocks were the most popular traditional investment by a fair margin. 42.87% of people reported owning bonds, while 40% had investments in real estate.

Easy, Safe, and on the Exchange

There's even more good news for cryptocurrency exchanges. Despite the common wisdom in the crypto sphere of personally holding your coins, respondents said they'd prefer to keep them on the exchange more than anywhere else:

  • 32.96% of respondents wanted to keep their crypto on the exchange
  • 22.69% of respondents had no preference
  • 17.59% of respondents wanted to keep it in a traditional bank
  • 17.59% of respondents wanted to keep it in a digital wallet
  • 9.17% of respondents wanted to keep it in a hardware wallet

There's an opportunity for banks as well as exchanges. People are used to trusting banks with their money. If banks gave them the same convenience and security for their crypto as they did with their cash, more than a few would be interested in keeping their coins there.

The news may be less good for makers of popular hardware wallets like Ledger and Trezor. Fewer than 1 in 10 respondents favored using hardware wallets.

The message seems clear. Americans are interested in crypto, but without the hassle or the stress of transferring it to a cold wallet, managing private keys, and potentially losing it all forever.

Americans Anticipate Financial Revolution

The majority of Americans (73.24%) believed that crypto would replace the U.S. dollar, and 20.93% expected it to happen in the next 10 years.

A further 23.43% believed it would happen in the relatively near term, between 10 - 50 years from now, while 28.89% expected it to happen in the distant future, more than 50 years out.

And it's not just crypto itself that Americans are in favor of. Nearly half (46.57%) supported the idea of decentralized finance (DeFi), while only 5.37% strongly opposed it.

The widespread adoption of blockchain technology could have big implications for banks, brokerages, exchanges, and other central financial intermediaries, who may find themselves increasingly left out of the equation.

That isn't to say that people are interested in going back to the Wild West. The majority of respondents (52.59%) were interested in stronger cryptocurrency regulation, while fewer than 1 in 5 (17.31%) opposed it.

Overall, the results indicate that Americans are very interested in crypto and the freedoms and opportunities it represents, as long as it's tempered with the safety that government oversight can provide.

CreditDonkey conducted an online survey of 1,080 Americans, age 18 and over, on May 24, 2021.

FAQ

What is the best crypto exchange?

The best crypto exchange will depend on your preferences. Are you looking for one that is simple to use? One that can minimize your fees? Or maybe one with unique features like the ability to copy trade? Well, there's an exchange for most everyone's preferences.

Here's a quick take on some of the best exchanges:

  • Coinbase is great for beginners since it's so easy to use with many ways to add money.
  • eToro is the only exchange that lets you copy the trades of professionals.
  • Gemini is great at securing your crypto from hackers.
  • Robinhood and Webull let you invest in stocks, in addition to your crypto, so that you can track your investments in one place.
  • Binance has the most coins and trading pairs, as well as lower fees than most exchanges.
  • Kraken offers the most advanced features letting you margin trade and short sell.

Which crypto exchange has the lowest fees?
Binance has some of the lowest fees, charging spreads from 0.01% to 0.92% and transaction fees from 0.10% to 0.50%. Traders and short-term investors who trade regularly can significantly benefit from exchanges with lower fees.

Kraken also has low fees, charging transaction fees from 0.00% to 0.26%.

Cryptocurrency exchanges that make it easier to buy crypto, like Coinbase and Coinmama, tend to charge higher fees.

Robinhood and Webull don't charge any commissions to trade, but they don't disclose their spreads like Binance.

Fees structures can be complex and vary widely based on the exchange, or even by coin. But the types of fees tend to be:

  • Transaction fees: These are often called the maker and taker fees. These are charged above the market price. You pay for every purchase or sale.
  • Deposit fees: When you add fiat money to your account, you could be charged based on the method you use. Debit card deposits cost more than bank or wire transfers.
  • Withdrawal fees: When you exchange crypto back to fiat currency, then remove it from your account, you may be charged a fee.

The most common fees on cryptocurrency exchanges are transaction fees. This can be a bit complex, but essentially: the more crypto you buy, the more you'll pay in fees. So the exchanges with the lowest transaction fees could save you a significant amount of money if you trade regularly.

What is the most secure crypto exchange?

Gemini was the first cryptocurrency exchange to earn an ISO 27001 certification and complete a SOC 1 & 2 Type 2 exam. Companies often use these reports to verify that they are safeguarding customer data.

In addition, most of Gemini's cryptocurrency is held in offline cold storage systems. This is generally considered the most secure storage option.

Coinbase has a strong reputation for security and keeps almost 99% of its digital assets in offline cold storage.

Kraken complies with financial regulations in the US, UK, Canada, Australia, and more. They have never been hacked since they were founded in 2011. They keep 95% of their assets in offline cold storage.

Most crypto exchanges offer various ways to secure your account with two-factor authentication. You could also withdraw your crypto to a cold wallet to store it online, however you would be subject to more deposit and withdrawal fees.

How do you buy crypto?

The most popular way to buy cryptocurrency is through a centralized exchange like Coinbase.

You can buy cryptocurrency by following a few steps. To start, you'd:

  1. Open an account at one of the top exchanges.
  2. Provide some personal information, although not all exchanges require id verification (commonly called KYC or Know Your Customer).
  3. Open a wallet to store your crypto. The cryptocurrency exchanges above will provide one for you.
  4. Transfer fiat currencies like U.S. dollars into your account using an ACH or wire transfer. Some exchanges offer debit card purchases for larger fees.
  5. You can now buy stablecoins like USDT, USDC, or branded stablecoins like Binance Coin (BNB).
  6. You then buy Bitcoin or other cryptocurrencies with your stablecoins.

But you could also buy crypto through decentralized exchanges (DEX). A DEX is a cryptocurrency marketplace allowing you to buy or sell crypto without a centralized custodian like Coinbase. These tend to be more complex than centralized exchanges, and are not recommended for beginners.

How much money do you need to buy crypto?

You can buy crypto for as little as $1 on Robinhood, Webull, and Kraken. But the minimum trade to buy crypto varies based on the exchange and even by coin.

Cryptocurrency exchangeMinimum trade
Coinbase$2
eToro$10
GeminiVaries by coin
Robinhood$1
Webull$1
Binance$10
Kraken$1
Blockfi$20
Coinmama$30

Methodology

To come up with our list, we reviewed the top 25 cryptocurrency exchanges and choose our favorites, based on these 9 factors.

  • Security: We only considered exchanges that had a great reputation for security, especially exchanges that kept the majority of their assets in cold storage.

  • Availability by location: Laws about cryptocurrency exchanges vary widely. We prioritized exchanges there were legal in most of the United States.

  • User friendliness: Getting started buying cryptocurrency can be complicated, so we prioritized an intuitive interface that would appeal to beginners versus those with advanced trading tools that only experienced traders would understand.

  • Fees: You can't predict your returns, but you're guaranteed to pay a certain number of fees. The higher the fees, the lower your returns. We weighed trading fees as a top consideration.

  • Minimums: If you're just starting to invest in crypto, it's smart to take it slow. Exchanges with lower minimums were ranked more highly than those that required large deposits.

  • Number of users: The exchanges with the most users tend to be popular for a reason. These exchanges are the most trusted and easy to use. They also have the largest trading volumes, leading to more liquidity. We only considered exchanges with large numbers of users.

  • Number of coins: Beginners may only be interested in the most popular coins like Bitcoin and Ethereum. But you may eventually want to invest in altcoins, so we factored in an exchange's coin selection.

  • Withdrawal options: Some exchanges don't allow withdrawals, such as Robinhood and Webull. We ranked these lower than exchanges that make withdrawing your returns easier and cheaper.

  • Miscellaneous features: Coinbase offers free coins to learn about crypto. eToro offers copy trading. BlockFi offers loans and a Visa card. We rated exchanges with a range of financial services above those with fewer features.

What Experts Say

CreditDonkey asked industry experts to answer readers' most pressing questions on the future of cryptocurrency.

Here's what they said:

Bottom Line

Investing in cryptocurrency may be all the rage right now, but make sure it's the right investment for you. Cryptos tend to be extremely volatile, so understand the risks.

To have a happy investment experience, pick the right platform for your needs. Don't only consider the fee. Pick a platform with features you want and an interface you're comfortable with.

References

  1. ^ Coinbase pricing and fees disclosures, Retrieved 2/1/2021
  2. ^ Coinbase. Asset Directory, Retrieved 5/22/2022
  3. ^ Coinbase. What is the minimum amount of cryptocurrency that I can purchase?, Retrieved 5/22/2022
  4. ^ eToro USA LLC. Trading Fees, Retrieved 3/30/2022
  5. ^ eToro USA LLC. Trade Markets on eToro, Retrieved 5/22/2022
  6. ^ "BlockFi Fees Schedule": BlockFi, 2021.
  7. ^ Gemini Mobile Fee Schedule, Retrieved 2/1/2021
  8. ^ Gemini. Transfer Fee Schedule: Deposit Fees, Retrieved 5/22/2022
  9. ^ Gemini. Transfer Fee Schedule: Withdrawal Fees, Retrieved 5/22/2022
  10. ^ Gemini. Cryptocurrency Prices, Retrieved 5/22/2022
  11. ^ "Commission Free Cryptocurrency Investing": Robinhood, 2021.
  12. ^ "Webull Financial Fee Schedule": Webull, 2021.
  13. ^ Webull. Cryptocurrency, Retrieved 5/22/2022
  14. ^ Kraken. Features, Retrieved 5/22/2022
  15. ^ How trading fees work on Kraken, Retrieved 2/1/2021
  16. ^ Kraken. Cryptocurrencies available on Kraken, Retrieved 5/22/2022
  17. ^ Binance Fee Structure, Retrieved 2/1/2021
  18. ^ Binance.US List of Unsupported States, Retrieved 5/22/2022
  19. ^ iTrustCapital Fees, Retrieved 2/1/2021
  20. ^ iTrust Capital. Assets, Retrieved 5/22/2022
  21. ^ Coinmama Fees & Charges, Retrieved 2/1/2021
  22. ^ Coinmama. Cryptocurrencies we offer, Retrieved 5/22/2022

Jeremy Harshman is a creative assistant at CreditDonkey, a crypto comparison and reviews website. Write to Jeremy Harshman at jeremy.harshman@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

eToro USA LLC; Virtual currencies are highly volatile. Your capital is at risk.

Uphold Disclaimer: Assets available on Uphold are different per region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection

Read Next:

Free Stock Trading App

Free Stock Trading App

How to Invest Money

How to Invest Money

10 Smart Ways to Invest $1,000

10 Smart Ways to Invest $1,000

How to Invest in Cryptocurrency

Invest in Cryptocurrency

How to Make Money with Bitcoin

How to Make Money with Bitcoin

Best Investment Apps

Best Investment Apps

BlockFi

Get Up to $250 in Bonus BTC

DepositCrypto Bonus
$100 - $1,499$15
$1,500 - $19,999$20
$20,000 - $39,999$40
$40,000 - $74,999$75
$75,000 - $99,999$100
$100,000+$250

How to Choose Best eToro Traders

eToro Traders

eToro Withdraw Guide

eToro Withdraw Guide

Is Uphold Safe and Legit

Is Uphold Safe and Legit

How to Sell on eToro

How to Sell on eToro

How eToro Copy Works

eToro Copy Works

How eToro Makes Money

How eToro Makes Money


Articles on Best Cryptocurrency Exchange

Best Time to Buy Crypto

When is the best time to buy crypto? Is it already too late? It's easy to feel like you've missed the boat. But the truth is, there's still plenty of time.

Safest Crypto Exchanges

Hack. Breach. The last words you want to hear when searching for a place to buy crypto. Review this list of the safest crypto exchanges before you buy.

Best Cryptocurrency App for Beginners

So you've finally decided to take the plunge into crypto, and you're wondering where to get started. Review these top-rated cryptocurrency apps for beginners.

Best Crypto Exchange UK

Searching for the best place to trade crypto in the UK? Look no further. Review the top exchanges serving traders in the UK and see how they compare.

Best Crypto Wallet

Crypto wallets are widely considered the safest place to keep your cryptocurrency. But which crypto wallet is best for you?

Best Place to Buy Bitcoin

Bitcoin has gone from a niche digital currency to an economic powerhouse. But how can a beginner get started? How high are the fees? Read on.
Leave a comment about Best Cryptocurrency Exchange?



Best Places to Buy Dogecoin

Best Places to Buy Dogecoin

Interested in investing in Dogecoin but not sure how to do it? It's easy to get started with this list of the best places to buy Dogecoin.

About CreditDonkey
CreditDonkey is a crypto comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

About Us | Reviews | Deals | Tips | Privacy | Do Not Sell My Info | Terms | Contact Us
(888) 483-4925 | 680 East Colorado Blvd, 2nd Floor | Pasadena, CA 91101
© 2022 CreditDonkey Inc. All Rights Reserved.