April 12, 2022

Best Place to Buy Crypto

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If you're new to cryptocurrency trading, one of the first questions you're likely to have is where to buy crypto. Discover the best platforms in this guide.

The 5 Best Places to Buy Cryptocurrency
  1. Coinbase: Best Exchange for Beginners
  2. eToro: Best Exchange for Social Trading
  3. Binance: Best Exchange for Active Traders (+ Lowest Fees)
  4. Crypto.com: Best Exchange for Altcoins
  5. Gemini: Safest Crypto Exchange

If you're just starting out with crypto, you might feel a bit overwhelmed.

What's the best platform? Or the safest? And who has the lowest fees?

Not every platform is right for everyone. With this guide, you'll find the best places to buy crypto, what to look for in a crypto exchange, and some coins to consider trading.

The Best Place to Buy Crypto

When choosing a platform to buy crypto, it's important to find one that suits your needs.

Whether you're a beginner, an altcoin-enthusiast, or hoping to explore social trading, one of these platforms will be a good fit.

1. Coinbase: Best Exchange for Beginners

Coinbase is widely considered the most beginner-friendly crypto exchange. They've got a user-friendly interface, a good selection of coins, and quite a few useful features on top of their exchange.

They are based in San Francisco and were founded in 2012. At that time, they offered the ability to buy and sell Bitcoin via bank transfers.

Now Coinbase offers over 150 cryptocurrencies to buy, sell, and trade, with more added regularly:[1]

List of supported coins on Coinbase:
  • 0x
  • 1inch
  • Aave
  • Algorand
  • Amp
  • Ampleforth Governance Token
  • Ankr
  • Augur
  • Balancer
  • Bancor Network Token
  • Band Protocol
  • Basic Attention Token
  • Bitcoin
  • Bitcoin Cash
  • Cardano
  • Cartesi
  • Celo
  • Chainlink
  • Civic
  • Compound
  • Cosmos
  • Curve DAO Token
  • Dai
  • Dash
  • Decentraland
  • district0x
  • Dogecoin
  • Enjin Coin
  • Enzyme
  • EOS
  • Ethereum
  • Ethereum Classic
  • Filecoin
  • Gitcoin
  • iExec RLC
  • Internet Computer
  • Kyber Network
  • Litecoin
  • Loopring
  • Maker
  • Mirror Protocol
  • NKN
  • NuCypher
  • Numeraire
  • OMG Network
  • Orchid
  • Origin Token
  • Polkadot
  • Polygon
  • Ren
  • SKALE
  • Stellar Lumens
  • Storj
  • SushiSwap
  • Synthetix Network Token
  • Tellor
  • Tether
  • Tezos
  • The Graph
  • UMA
  • Uniswap
  • USD Coin
  • Wrapped Bitcoin
  • yearn.finance
  • Zcash

Coinbase has a "learn and earn" page that incentivizes beginners to expand their knowledge of crypto, and has other useful features like borrowing, interest accounts, and a dedicated crypto wallet.

The only real downsides to Coinbase are that its fees are higher than many of its competitors, and more complicated than they need to be. They can be difficult to grasp for many of the beginners who make up their customer base.

How does Coinbase stack up when it comes to safety? Review their security measures and how they keep your assets safe in our guide here.

2. eToro: Best Exchange for Social Trading

If you're looking for a hands-on learning experience for crypto trading, you won't find many platforms better than eToro, a popular social trading platform.

eToro is best known for their CopyTrading feature, which allows users to mimic the trades of other investors automatically. With this feature, inexperienced traders can learn in real-time from their more experienced peers.

Each copy-able trader has their own risk score to help you find someone that fits your risk tolerance. You can also use the public feeds and comments to hash out strategies or take advantage of their educational content.

eToro offers a limited selection of the more popular cryptocurrencies, including:

Like other exchanges catering to newer traders, eToro's fees are on the higher end of the spectrum.

3. Binance: Best Exchange for Active Traders

If you're a more experienced investor looking for the best price with the least handholding, consider Binance or Binance.US.

Binance is an ideal choice for experienced, high-volume traders, with some of the lowest fees in the industry and the highest liquidity of any of the spot exchanges.

The international platform boasts an impressive list of over 500 cryptocurrencies to trade, while over 80 are available in the U.S., including:[2]

List of supported coins on Binance.US:
  • 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

Binance offers free peer-to-peer trading in addition to their main exchange, a range of savings and staking options, and a trading widget compatible with the Brave internet browser.

4. Crypto.com: Best Exchange for Altcoins

U.S. users won't find a wider selection of altcoins than at Crypto.com. They have an extensive list of over 250 cryptocurrencies and stablecoins, better even than Binance.US.

Here's a partial selection of some of the many coins available at Crypto.com:[3]

List of supported coins on Crypto.com:
  • 0x
  • 1inch
  • Aave
  • Aavegotchi
  • aelf
  • Algorand
  • Amp
  • Ampleforth Governance Token
  • Ardor
  • Ark
  • Arweave
  • Audius
  • Avalanche
  • Axie Infinity
  • BakeryToken
  • Balancer
  • Bancor
  • Band Protocol
  • BigONE Token
  • Binance Coin
  • Binance USD
  • Bitcoin
  • Bitcoin Cash
  • Bluzelle
  • Cardano
  • Casper
  • Celer Network
  • Chainlink Solana
  • Chiliz
  • Chromia
  • Compound
  • Compound Coin
  • Contentos
  • Cosmos
  • Crypto.com Coin
  • Curve DAO Token
  • Dai
  • Dash
  • Decentraland
  • DIA
  • DigiByte
  • Dogecoin
  • Ellipsis
  • Elrond
  • Enjin Coin
  • Enzyme
  • EOS
  • Epanus
  • Ethereum
  • Ethereum Classic
  • Everipedia
  • Fantom
  • Fetch.ai
  • Filecoin
  • Flow (Dapper Labs)
  • Game.com
  • Gas
  • Gemini Dollar
  • Gitcoin
  • Golden Ratio Token
  • Golem
  • Harmony
  • Helium
  • Holo
  • HUSD
  • Hydro Protocol
  • ICON
  • iExec RLC
  • Injective Protocol
  • Internet Computer
  • IOST
  • IQ.cash
  • IRISnet
  • Kava
  • Komodo
  • Kusama
  • Kyber Network Crystal Legacy
  • Lisk
  • Litecoin
  • Livepeer
  • Loopring
  • Luna Coin
  • Maker
  • Nano
  • NEAR Protocol
  • Neo
  • Nervos Network
  • NKN
  • NuCypher
  • Numeraire
  • Ocean Protocol
  • OMG Network
  • Ontology
  • Ontology Gas
  • Origin Protocol
  • Pancake Swap
  • PAX Gold
  • Paxos Standard
  • Polkadot
  • Polkastarter
  • Polygon
  • Qtum
  • Raiden Network Token
  • Rally
  • Rarible
  • Ravencoin
  • Ren
  • Reserve Rights
  • Ripple
  • Shiba Token
  • Siacoin
  • SKALE Network
  • SoMee.Social
  • Stacks
  • Stellar
  • Storj
  • Stox
  • STRAX
  • SushiSwap
  • Synthetix Network
  • Tellor
  • Terra
  • Tether
  • Tezos
  • The Graph
  • The Sandbox
  • THETA
  • Theta Fuel
  • THORChain
  • TomoChain
  • TrueUSD
  • UMA
  • UNICORN Token
  • Uniswap
  • Universe
  • USDC
  • VeChain
  • Venus
  • VeThor Token
  • Waltonchain
  • Waves
  • Wrapped Bitcoin
  • XSGD
  • yearns.finance
  • Zilliqa

They have a wide range of useful features including NFT marketplace, a selection of crypto-rewards Visa cards, crypto wallets, a crypto pay feature, and a range of interest accounts.

And as for their fees, while they aren't the lowest in the industry, they are reasonable compared to some other popular exchanges.

5. Gemini: Safest Crypto Exchange

If safety is your primary concern, then you may want to opt for an exchange that's made it theirs as well. That means trading with Gemini.

Gemini keeps most of their crypto holdings offline in air-gapped, geographically distributed facilities. What isn't kept in cold storage is insured and protected to a standard of a FIPS 140-2 Level 3 rating or higher, and they employ strict internal controls over crypto transfers.

And their security goes beyond the coins themselves. Gemini has also partnered with third-party vendors to protect against DDoS attacks, and much of their internal site is kept off public internet.[4]

This security-minded exchange has an extensive selection of over 75 coins that rivals many of its peers, including:[5]

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

To protect your data and your coins, they employ multi-factor authentication and address allowlisting.[6] Personal information is encrypted, and account operations are rate-limited to prevent brute force attacks. They even offer a bug bounty to stop would-be hackers.

While other platforms were trying to make cryptocurrency trading faster, easier, or cheaper, Gemini was working to make it secure. To date, Gemini has never been hacked.

What's the Best Crypto to Buy?

Unfortunately, there's no real right answer to that question, and anyone who tells you otherwise is guessing at best.

If you're interested in buying crypto as a utility item—to use for real commerce—then sticking with the more popular coins is probably going to be most effective. Like fiat currencies, more widely used cryptocurrencies are more likely to be accepted.

That means things like Bitcoin, Ethereum, and perhaps stablecoins like Tether and USD Coin, which are tied to the value of the U.S. dollar.

If you're hoping to get rich off of crypto as an investment, well, so is everyone else. Some predicted the rise of Bitcoin correctly, but plenty others claimed it would crash.

So far they've been wrong, but only time will tell how things turn out.

The same is true of every coin. The creator of Dogecoin famously sold off his coins before they became truly valuable. And if that isn't proof that no one knows what's coming, what is?

If you're looking to stake cryptocurrency, we do offer a few recommendations for which coins are worth staking. Check out our list here.

What to Look for in a Crypto Exchange

There are several important factors to consider when choosing your crypto trading platform, and a lot of them depend on your own personal priorities.

Here's a look at some of the things we considered when choosing from these leading cryptocurrency companies:

Ease of Use
Not all platforms are beginner-friendly. While investing is generally more accessible than ever, some crypto platforms have gone the extra mile to be user-friendly. Others focus more on providing expert-level features.

Note: Some of the most beginner-friendly crypto trading apps may also be slightly more expensive, like Coinbase, for example. Decide whether you're willing to pay little more for an easy-to-learn experience or would prefer saving some money to learn on your own.

Variety of Coins
Whether you care about altcoins—that is, cryptocurrencies that aren't Bitcoin—may have an impact on the exchange you pick.

Most exchanges offer at least a few dozen popular cryptocurrencies, but the selection available on others goes above and beyond, like Binance and Crypto.com.

Features
Of course, if you're just getting started with cryptocurrency, you may just care about trading. But most exchanges do more than just let you buy and sell crypto.

Popular features to look out for are staking accounts, credit and debit cards that let you spend or earn cryptocurrency, and marketplaces for NFTs and other blockchain-related products.

Fees
Fees can make or break your experience on a cryptocurrency exchange.

While they matter a bit less if you're an infrequent trader, or expect to buy and hold for many years, crypto enthusiasts who trade even semi-frequently will quickly see high fees eating into their profits if they choose the wrong exchange.

Keep in mind that lower fees are generally a benefit offered on more expert-oriented platforms. If you feel like you might be overwhelmed due to inexperience, it doesn't hurt to start on one exchange and move to another when you're ready.

Security
Cryptocurrency can feel a lot like internet gold. There are always going to be hackers and scammers out there trying to get access to your coins illegitimately.

Fortunately, most exchanges take security very seriously, but it's still an important factor to keep in mind when choosing.

Customer Feedback
Reputation matters, and one of the best ways to identify the best sites to buy cryptocurrency is to look at what their users are saying. High user reviews are usually a good indicator of a quality platform.

It's important to keep in mind that even the best crypto platforms have weak points. It's up to you to decide whether you care most about finding a platform that's beginner-friendly or one that offers the lowest rate.

Bottom Line

When searching for the best place to buy crypto, it's important to remember that the answer won't be the same for everyone. The best way to invest in cryptocurrency is the one that suits your needs.

If you're a beginner, consider Coinbase or eToro. If you're interested in high-volume trading, Binance is probably the way to go. For altcoin-seekers, Crypto.com has variety and utility, and for those who just can't forget Mt. Gox, Gemini may be the best exchange to allay your fears.

When looking for coins to invest in, do your research, consider your priorities, and always remember not to invest more than you can afford to lose.

References

  1. ^ Coinbase. Asset Directory, Retrieved 4/6/2022
  2. ^ "List of Supported Assets": Binance.US, 2022.
  3. ^ Crypto.com. Price, Retrieved 4/6/2022
  4. ^ "Security": Gemini, 2022.
  5. ^ Gemini. Cryptocurrency Prices, Retrieved 4/6/2022
  6. ^ "Best Practices for Securing Your Gemini Account": Gemini, 2022.

Jeremy Harshman is a protector of art and writing 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.

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