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The top cryptocurrency exchanges allow you to buy, sell, and trade popular cryptocurrencies, NFTs, and other digital coins and tokens. However, only experienced, hands-on traders with knowledge of blockchain trading should use the top crypto exchanges.
Our crypto exchange guide explores the best crypto exchanges, including the crypto exchanges with the lowest fees and the safest crypto exchanges for buying and selling Bitcoin and other top-performing digital coins.
Check out our crypto exchange reviews on each platform for more in-depth analysis.
Best Crypto Exchanges for 2024
- Coinbase: Best cryptocurrency selection
- Crypto.com: Best for mobile trading
- Abra: Best for institutional and private wealth management
- Kraken: Best security
- Binance.US: Best security runner-up
- Cash App Investing: Best for Bitcoin
Compare the Best Cryptocurrency Exchanges
The best cryptocurrency exchanges work similarly to the best stock trading apps, offering competitive fees and resources on digital marketplaces like mobile or desktop. Crypto enthusiasts can easily buy, sell, and store popular digital currencies like Bitcoin or altcoins like Ethereum alongside traditional investable securities.
Note that if you don't want to use your exchange's built-in wallet (if applicable), you'll need to set up an external crypto wallet, such as one of the best bitcoin wallets, to store your assets securely.
Here are the top cryptocurrency exchanges for low fees and human advisor access as chosen by Business Insider editors in 2024.
Best cryptocurrency exchanges
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Coinbase
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Crypto.com
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Abra
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Kraken
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Cash App Investing
Editor's Rating
4.35/5
Custom Text
Best overall
Minimum Deposit
$2
Editor's Rating
4.35/5
Custom Text
Best for mobile trading
Editor's Rating
3.17/5
Custom Text
Best for institutional and private wealth management
Minimum Deposit
$5
Editor's Rating
3.57/5
Custom Text
Best security
Minimum Deposit
Varies
Editor's Rating
3.99/5
Custom Text
Best for Bitcoin
On Coinbase's website
Start investing
On Crypto.com's website
On Abra's website
On Kraken's website
On Cash App's website
Check out Business Insider's guide on shorting cryptocurrency>>
Top Crypto Exchanges
Coinbase
Best for:Cryptocurrency selection
As one of the largest U.S.-based cryptocurrency exchanges, Coinbase is a user-friendly digital marketplace offering hundreds of cryptocurrencies. Coinbase caters to intermediate and advanced traders, as well as institutions and high-net-worth clients. Coinbase offers its Pro, Advanced Trade, and Prime platforms.
Coinbase has a low account minimum to get started and offers digital wallet storage for cryptocurrencies and other digital assets. Coinbase's beta NFT trading platform has no transaction fees for creators and collectors.
Cons: Coinbase is under investigation by the SEC. Also, if you regularly use margin accounts to trade, Coinbase isn't the best choice. It charges high fees.
Coinbase review
Crypto.com
Best for: Mobile trading
Crypto.com is a popular global crypto trading platform known for its user-friendly mobile trading app with various reward opportunities and DeFi wallet storage. Although Crypto.com offers a web-based exchange, U.S. investors are limited to its mobile app.
Crypto.com supports 350+ cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. The platform accepts 20+ kinds of fiat money. The Crypto.com mobile app provides Visa Card perks, reward-earning opportunities, crypto-tracking features, and price alerts.
Cons: U.S. investors won't have access to Crypto.com's more advanced trading features, such as margin trading, OTC trading, staking, and trading bots.
Crypto.com review
Abra
Best for:Institutional and private wealth management
Abra is a global crypto exchange serving institutions and private clients (including family offices and hedge funds) in 150+ countries. It offers comprehensive cryptocurrency investment solutions and wealth management services like OTC trading, lending services, and sovereign wealth funds.
Private clients can meet with a dedicated account manager for tailored crypto trading solutions, competitive fees, and 24/7 expert guidance from a team of professionals. Institutional clients can use Abra Prime to gain cryptocurrency exposure, access trading pairs, and build custom crypto and digital asset programs.
Abra's OTC services give institutional clients access to interest-earning accounts, loans, and one-on-one account support.
Cons: Retail trading is no longer available in the U.S. Therefore, only Abra Prime and Private services are available for U.S.-based investors.
Abra review
Kraken
Best for:Security
Kraken is one of the oldest and most well-established global crypto exchanges with industry-leading educational resources and security features. Kraken is one of the safest crypto exchanges for investors looking to trade 200+ cryptocurrencies.
Crypto exchanges aren't generally regarded as the safest or most transparent platform, so industry-leading crypto trading platforms like Kraken stand out quite a bit.
The platform also offers a handful of fiat currencies with options for retail and institutional investors.Kraken provides investors with access to margin and spot trading. You can borrow up to 5x your account with a margin for increased liquidity and higher trading volumes. NFTs have no gas fees.
Cons: Kraken's futures trading platform isn't available to US traders. In addition, only institutional and high-net-worth clients can use the exchange's consultation and account management services.
Kraken review
Binance.US
Best for:Security runner-up
Binance.US is another top crypto exchange, often compared to Kraken, as one of the safest crypto exchanges for active blockchain traders. However, it is only the runner-up since the exchange has a history of unethical activity (see our review for further info).
Nevertheless, Binance.US is one of the crypto exchanges with the lowest fees, offering accessible trading features and tools for retail and institutional investors. Binance.US also offers perks like cold-wallet storage, staking, and institutional services.
Cons: Binance.US does not offer crypto futures or margin trading.
Binance.US review
Cash App Investing
Best for:Bitcoin
Cash App Investing is one of the best crypto exchanges in the US due to its user-friendly platform and commission-free trades of more than 1,800 stocks and ETFs. When you link your Cash App balance to the mobile app, investors can easily buy, sell, send, and receive Bitcoin. You can even designate a specific portion of your paycheck to be converted into bitcoin when you set up direct deposits.
Send bitcoin to your friends fee-free with Cash App's Lightning Network features. Cash App also provides an in-app custodial wallet to store your Bitcoin assets. You can start trading with as little as $1.
Cons: Cash App Investing only offers Bitcoin. Consider other top cryptocurrency platforms if you want to invest in other cryptocurrencies like Ethereum or Dogecoin.
Cash App Investing review
What are Crypto Exchanges?
A cryptocurrency exchange is like an online brokerage for cryptocurrencies, tokens, and other digital assets like NFTs. Investors can buy, sell, and trade cryptocurrencies for other cryptocurrencies or fiat currencies (like USD and EUR).
There are two types of crypto exchanges:
- Centralized Exchanges (CEX): Centralized exchanges are the most common type of crypto exchange. They are managed by companies and offer features such as fiat on-ramps, access to liquidity, and other advanced charting tools and analytics. However, they are susceptible to centralization and custodial risk.
- Decentralized Exchanges (DEX): Decentralized exchanges operate on the blockchain and are managed by their users. The most popular example is the Bitcoin system. Decentralized exchanges offer peer-to-peer trading without intermediaries and prioritize privacy and security. However, they lack liquidity and consumer protection and are vulnerable to security breaches.
How to Choose the Best Crypto Exchange
The best crypto exchanges offer competitive pricing for cryptocurrencies beyond Bitcoin and Ethereum and prioritize user experiences with an intuitive interface, clear platform navigation, and access to a mobile app. Trustworthy crypto trading platforms are licensed and compliant with industry regulations.
When deciding how to choose a crypto exchange, consider whether the exchange aligns with your investing preferences. This includes factors such as your risk tolerance, time horizon, preferred trading features, and investment goals. Additionally, ensure the exchange you pick matches your preferred trading style.
For example, if you're a hands-off trader, you should pick a platform equipped with automated trading features and tools. Most crypto exchanges are designed with active traders in mind. If you're looking for passive crypto trading, your options are limited.
FAQs About Crypto Exchanges
Are crypto exchanges safe?
In general, cryptocurrency exchanges are not as secure or as closely regulated as other investment platforms. The crypto world has been subject to numerous frauds, scams, and bankruptcies. Most crypto platforms have an F rating from the BBB. But that doesn't guarantee whether the platform will be good for you. Some exchanges, like Coinbase, have built strong trustworthiness reputations by compiling with regulatory practices and enforcing security protocols.
Do I need a crypto wallet to use an exchange?
You must have a crypto wallet to buy and sell cryptocurrencies through an exchange. Most platforms have built-in wallet storage. If you don't want to use your exchange's built-in wallet (if applicable), you'll need to set up an external crypto wallet, such as one of the best bitcoin wallets, to store your assets securely.
What are the tax implications of trading cryptocurrencies?
For tax purposes, cryptocurrencies are considered property by the IRS, similar to stocks and bonds. Typically, you'll be taxed when you sell or trade crypto for more than you originally bought it. The tax rate varies depending on how long it was held before you sold it. Short-term capital gains of less than a year are taxed at your regular income tax rate. Long-term gains are generally taxed at a lower rate but can change based on your income level.
Why You Should Trust Us: Our Expert Panel For The Best Cryptocurrency Exchanges
We interviewed the following investing experts to see what they had to say about cryptocurrency exchanges.
- Sandra Cho, RIA, wealth manager, and CEO of Pointwealth Capital Management
- Tessa Campbell, Investment and retirement reporter at Personal Finance Insider
What are the advantages/disadvantages of investing through a cryptocurrency exchange?
Sandra Cho:
"The advantages to investing through a cryptocurrency exchange are the ease of trading and functionality. These exchanges are built for cryptocurrency are are made as such.
"The disadvantages, however, are important. Recently, several cryptocurrency exchanges have gone under, and investors have lost significant amounts of money. Given that this industry and asset class is still relatively new, there are unique risks that are nor present in traditional investments like stock and bonds. Investing through a cryptocurrency leaves you at the will of the exchange itself, which has a non-zero possibility of going defunct."
Tessa Campbell:
"Investing through a cryptocurrency exchange offers several advantages, including access to real-time market data and research, trading strategies, and multiple cryptocurrency options to add to individual brokerage accounts, retirement accounts, and more.
"Some disadvantages include high trading fees, limited resources, and frequent fraudulent activity. These platforms are often criticized for their inadequate security measures, risky trading, and subpar customer support."
Who should consider investing through a crypto exchange?
Sandra Cho:
"Investors with an extremely high-risk tolerance and those that understand the inherent risks in investing through cryptocurrency exchanges may want to consider using an exchange. However, they should be wary of the risks and the lack of oversight that is apparent in the industry."
Tessa Campbell:
"You may want to consider investing through a crypto exchange if you're primarily focused on trading crypto and other decentralized currencies. Moreover, you'll want to have a high investing risk tolerance and a hands-on trading approach."
Is there any advice you'd offer someone who's considering investing in cryptocurrencies through a crypto investment app?
Sandra Cho:
"I would tell them to first potentially reconsider dealing with cryptocurrencies at all. The asset class is extremely volatile and unregulated. If they insisted, I would then tell them to do their research on the relevant exchanges and choose the one that is safest and best backed. As mentioned, many crypto exchanges have gone under recently, which is a huge risk to the investor."
Tessa Campbell:
"Make sure you fully understand the risks involved in purchasing highly volatile cryptocurrencies like bitcoin, ether, or dogecoin. You should also ensure that the cryptocurrency exchange you're investing through is free of scams, bad business practices, or public scandals. One way to check this is with the Better Business Bureau's grading system."
Methodology: How We Reviewed the Best Cryptocurrency Exchanges
Business Insider applied its rating methodology for investing platforms to dozens of cryptocurrency exchanges to find the best options for crypto traders. The criteria for comparing crypto exchanges include the platforms' fees, asset/account security, accessibility score, and customer support. All investment platforms are given a rating between 1 and 5.
Investing and Retirement Reporter
Tessa Campbell is an investing and retirement reporter on Business Insider’s personal finance desk. Over two years of personal finance reporting, Tessa has built expertise on a range of financial topics, from the best credit cards to the best retirement savings accounts.ExperienceTessa currently reports on all things investing — deep-diving into complex financial topics, shedding light on lesser-known investment avenues, and uncovering ways readers can work the system to their advantage.As a personal finance expert in her 20s, Tessa is acutely aware of the impacts time and uncertainty have on your investment decisions. While she curates Business Insider’s guide on the best investment apps, she believes that your financial portfolio does not have to be perfect, it just has to exist. A small investment is better than nothing, and the mistakes you make along the way are a necessary part of the learning process.Expertise:Tessa’s expertise includes:
- Credit cards
- Investing apps
- Retirement savings
- Cryptocurrency
- The stock market
- Retail investing
Education:Tessa graduated from Susquehanna University with a creative writing degree and a psychology minor.When she’s not digging into a financial topic, you’ll find Tessa waist-deep in her second cup of coffee. She currently drinks Kitty Town coffee, which blends her love of coffee with her love for her two cats: Keekee and Dumpling. It was a targeted advertisem*nt, and it worked.
Compliance Associate
Elias Shaya is a Compliance Associate on the Personal Finance Insider team based in New York City, whichensures content accuracy and editorial independence so readers are always getting up-to-date and objective financial advice.The team also works to minimize risk for partners by ensuring language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team. Elias is the point person for the loans sub-vertical and works with the editorial team to ensure that all rates and information for personal and student loans are up-to-date and accurate.He joined Insider in February 2022 as a fellow on the compliance team.
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