Since 2017, our team has spent navigate to this website hundreds of hours researching cryptocurrencies. To pick the best crypto exchanges, we evaluated more than 20 companies based on their security, user experience and cost. We also studied current crypto regulation and compliance reports, compared fee schedules and spoke to our in-house crypto experts for further guidance.
Crypto exchanges are where traders can buy, sell and convert different cryptocurrencies and NFTs (non-fungible tokens). They are necessary for digital assets to be traded at the scale they are today. Some exchanges offer the most competitive prices or speeds, whereas others provide specialized financial products.
Read on to learn about the best cryptocurrency exchanges, how they work, and which one you should pick.
What’s going on with the crypto industry?
With the price of Bitcoin once again surging, many traders are rushing back to the market despite the broad crackdown on the crypto industry by the Securities Exchange Commission (SEC). Numerous well-known exchanges, including Coinbase and FTX, have been put under scrutiny in the wake of several high-profile failures that shook the industry starting in 2022.
Most recently, the SEC sued Kraken over allegations that it has been operating as an unregistered securities exchange. The Commission claims that it failed to register with regulators and commingled customers’ funds. Binance, another crypto giant, is also undergoing a lengthy legal battle with the SEC due to alleged commingling of customer funds.
We acknowledge that the current state of the crypto industry may be unsettling and want to assure our audience that the exchanges listed in our top picks have transparent financial backing and robust cybersecurity measures in place.
Nonetheless, if you’re looking for the most secure method possible of managing your crypto, we recommend purchasing a cold storage wallet. Our top recommendation for the best hardware wallet can be found in our list of the best crypto wallets.
Coinbase
If you’re familiar with crypto, chances are you’ve already heard of Coinbase. The exchange is one of the largest and most well-known in the U.S., plus the crypto platform does a great job of lowering the barrier to entry for new investors, with a straightforward onboarding process that eases users into trading.
Navigating the platform and managing crypto is a seamless experience thanks to Coinbase’s simple interface. The exchange also features a comprehensive and accessible variety of learning materials. Users are encouraged to use these resources through the Coinbase Earn program, which teaches how to trade specific assets and rewards users with crypto.
Kraken
Kraken has been around for a while now, and is well known — and loved — by many crypto traders around the world. The exchange supports more than 230 cryptocurrencies and boasts arguably the safest digital ecosystem for trading your crypto. Moreover, its advanced trading platform, Kraken Pro, provides a wealth of tools for experienced crypto traders.
A big reason why Kraken Pro stands out from other platforms is its customizable interface. Users can choose as many trading modules as they want from an extensive list and resize, drag, drop and arrange them to create their ideal layout. Another reason is the platform’s fee schedule, which boasts some of the lowest maker and taker fees we could find.
Bitstamp
Many crypto exchanges promise low fees as a way to entice traders to join their platform, but then “catch” you with expensive transfer and withdrawal fees. This is not the case with Bitstamp, which features inexpensive fees across the board. Withdrawal fees for individual cryptocurrencies are markedly low, and ACH transfers are free of charge.
Bitstamp’s maker/taker fee schedule — ranging from 0.30% to 0.00% and from 0.40% to 0.03% as of December 7 — stands as one of the most affordable among all the exchanges operating in the US. Moreover, users with a 30-day trading volume of under $1000 don’t have to pay any trading fees at all, which is a considerable boon for less dedicated traders.
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