Best Cryptocurrency Exchanges of January 2024

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Understanding cryptocurrencies alone can be daunting, and if you’re new to crypto trading, finding the right brokerage to buy and sell popular assets like bitcoin, ether, and dogecoin can be another challenge.

Most of the best crypto apps provide low fees, margin trading, and other features like staking rewards (interest rewards for holding crypto assets for a set period).

That said, 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 to store your assets securely.

The Best Cryptocurrency Exchanges

• Coinbase: Best crypto exchange for Bitcoin-oriented traders
• Abra: Best crypto exchange for low fees
• Kraken: Best crypto exchange for futures and margin traders
• CEX.IO: Best crypto exchange for cryptocurrency selection
• Gemini Investing: Best crypto exchange for bitcoin and ether traders
• eToro USA: Best crypto exchange for all types of traders

We’ve compiled some of the best cryptocurrency exchanges for buying and selling crypto assets. Keep reading to find the best crypto trading platform for you.

Compare the Best Cryptocurrency Exchanges

Cryptocurrency Exchanges Frequently Asked Questions (FAQs)

What Is a Cryptocurrency Exchange?

A cryptocurrency exchange is like an online brokerage for cryptocurrencies, tokens (virtual assets created through existing blockchains), and other digital assets. Many of these exchanges offer investment options for active traders looking to buy, sell, or hold digital assets like bitcoin, ether, and litecoin. 

Most exchanges also offer custody and storage options for users looking to safely protect their crypto assets against theft and hacks. But then again, most exchanges aren’t solely personal wallet services. If you want to set up an external wallet with a bitcoin wallet provider or another storage wallet service, you can do so while maintaining your crypto exchange account. You can simply transfer assets between your exchange account and crypto wallet when necessary.

Are Cryptocurrency Exchanges Worth It?

This depends on your investment goals and needs. You can invest in cryptocurrencies in more than one place.  

And if you’re interested in low-cost options, note that you can also trade cryptocurrencies with fee-free brokerages like Webull and Robinhood. The catch with taking this route is that you won’t have as many crypto-specific features as you would with a Kraken or Gemini. 

You would essentially sacrifice a wider range of investments and account features for lower fees and limited cryptocurrency options. If you’re looking for a wider range of crypto-specific trading tools and account features, a cryptocurrency exchange may be the best option.

Cryptocurrency Exchange Reviews

Best Cryptocurrency Exchange for Bitcoin-oriented Traders

Coinbase

Coinbase offers more than 250 cryptocurrencies, including bitcoin, ether, litecoin, dogecoin, and ripple. The exchange also offers multiple investment options for individual and institutional clients. Some of its account features include staking rewards, mobile apps, and a Coinbase learning rewards account option that pays you crypto assets for watching educational videos.

Coinbase also offers a few other options: Coinbase Pro and Coinbase Advanced Trade for experienced traders and Coinbase Prime for institutions and high-net-worth clients (individuals with at least $1 million). Coinbase Pro users get access to more advanced features like secure trading bots, charting tools, and real-time order books. Coinbase Advanced Trade essentially enhances the offerings of Coinbase Pro, giving users access to crypto rewards and additional tools and security features.

In addition to the Prime cryptocurrency trading platform, institutional clients can utilize commerce services, cold storage (offline storage for crypto assets), and an Asset Hub that allows issuers to list and grow their products on the platform.

Plus, Coinbase also launched the beta version of its NFT trading platform. For a limited time, it’s offering no transaction fees for creators and collectors who use the platform. Many NFT platforms charge 2.5% per transaction, so Coinbase’s offerings are highly competitive when it comes to pricing.

What to look out for: If you regularly use margin accounts to trade, Coinbase isn’t the best choice. The exchange doesn’t let you temporarily borrow money to trade crypto assets, nor does it offer futures (legal contracts that give you the choice to exchange security at a specific price on a forthcoming date).

Best Cryptocurrency Exchange for Low Fees

Abra

Abra is a global crypto exchange serving individual and institutional traders in more than 150 countries. Along with the fact that Abra doesn’t charge any trading fees (though it earns income from the spread between different assets), the exchange also stands out due to its expansive selection of crypto products and features.

This includes trading for 75 cryptocurrencies, interest accounts that let you earn up to 10% on eligible assets, crypto-backed loans, over-the-counter (OTC) trading, and multiple educational guides for beginners. Its OTC services also give institutional clients access to interest-earning accounts, loans, and one-on-one account support.

In addition, Abra pays you 3% cash back for CPRX token trades, and the exchange offers 0% interest loans.

What to look out for: Visa and Mastercard transactions have high fees.

Best Cryptocurrency Exchange for Futures and Margin Traders

Kraken

Kraken has 185+ cryptocurrencies with an array of options both for retail investors and institutional investors. But when it comes to global support, Kraken has a bit more reach than Binance.US. The exchange currently supports traders in nearly 200 countries.

Kraken also offers margin trading and futures trading. With its margin accounts, you can borrow up to five times your account balance to trade crypto assets. Futures trading — contracts that allow you to buy or sell an asset at a set price on an upcoming date — is available for bitcoin, ether, litecoin, bitcoin cash, and ripple.

The exchange also offers its own futures trading platforms. But institutional clients can take advantage of expert insights, one-on-one consultations, account management support, and more.

All clients can utilize Kraken’s staking rewards, iOS and Android mobile app access, and educational resources.

What to look out for: Kraken’s futures mobile platform isn’t currently available to US traders. In addition, only institutional and high-net-worth clients can utilize the exchange’s consultation and account management services. 

Best Crypto Exchange for Cryptocurrency Selection

CEX.IO

Based in London, CEX.IO is a global crypto exchange supporting traders in more than 99% of countries worldwide, including 48 US states, according to its website. The exchange also gives you access to bitcoin and more than 100 other crypto assets.

All users can access CEX.IO’s instant buy feature (this is only for credit and debit card purchases), mobile app, staking rewards, and crypto-backed loans. But more advanced traders might prefer CEX.IO’s spot trading feature (this option lets you place different types of crypto market orders) and margin trading accounts. Institutions and businesses can use its aggregator and payment management services. 

It’s also important to point out CEX.IO’s fee schedule. The exchange has a maker/taker schedule that’s based on your 30-day trading volume. Maker orders can’t be executed immediately since there are no other orders to match with them; however, taker orders match immediately, according to CEX.IO.

Its maker fees range from 0.00-0.15%, and its taker fees span from 0.01-0.25%. You can also access CEX.IO on iOS or Android devices.

What to look out for: Transactions with debit or credit cards can be pricey at CEX.IO. For Visa and Mastercard deposits, you’ll be have to pay a 2.99% fee (it only requires 1.49% for GBP deposits with UK-issued cards). Withdrawals for US residents using a Visa card include a service charge up to 3% plus an additional $1.20 and commission up to $3.80. Mastercard users can expect a service charge up to 1.8% plus an additional $1.20. There’s also a commission up to 1.2% plus $3.80.

Best for Bitcoin and Ethereum Traders

Gemini

*Note: In response to the FTX crisis, Gemini’s lending partner, Genesis Global Trading, recently announced it is suspending redemptions and new loan originations. As a result, Gemini has currently paused withdrawals on its Gemini Earn account.

Gemini offers a wide variety of crypto trading services for individuals and institutions. Traders can take advantage of multiple platforms, including the Gemini web exchange, Gemini iOS and Android mobile apps, Gemini Active Trader platform, Gemini Fund Solutions, and institutional trading tools.

But the exchange also provides a few other notable features: Gemini Wallet, Gemini Earn, Gemini Clearing (brokerage services for off-exchange crypto trades between parties), Gemini Custody, Gemini Pay, and Gemini Dollar (a digital asset backed by US dollars).

Though Gemini isn’t strictly a personal wallet service, its two storage and custody options — Gemini Wallet and Gemini Custody — give you the choice of online storage or institutional offline storage for your crypto assets. Gemini custody also offers $200 million in cold storage insurance coverage.

Gemini Earn gives you the option to receive up to 8.05% interest on your crypto balance, while Gemini Pay gives you the option to use your assets for purchases at more than 30,000 retail facilities across the US.

What to look out for: Gemini has multiple fee schedules for different accounts and account actions. While you won’t be charged for transferring funds through ACH or wire methods, credit or debit card transfers have a 3.49% fee. The exchange also has a limited number of cryptocurrencies (see its full list of supported assets here).

Best Cryptocurrency Exchange for All Types of Traders

eToro USA

The eToro USA crypto exchange offers a highly secure and easily navigable interface that gives you access to more than 25 crypto assets. The exchange also supports traders in 140 countries, and you’ll need at least $10 to trade. 

When it comes to trading, you can either take the DIY approach, or you can utilize one of eToro’s two hands-off options. The first, known as the CopyTrader^™ system, allows you to mirror the portfolios of other successful traders. US clients can currently only mimic other US investors’ portfolios, and you’ll need at least $200 to do so.

The second option is SmartPortfolios. The exchange currently offers access to four different pre-built portfolios — CryptoEqual, CryptoPortfolio, Crypto-currency, and TheTIE-LongOnly SmartPortfolio — that eToro regularly rebalances for you.

Finally, eToro offers something that many crypto exchanges don’t — stock and ETF trading. Users can exchange both full and fractional shares of stocks and ETFs without commissions. 

What to look out for: eToro doesn’t currently support traders in New York, Minnesota, Nevada, Puerto Rico, Tennessee, Hawaii, Guam, American Samoa, Northern Marianas, and the US Virgin Islands.

Other Cryptocurrency Exchanges We Considered

• Binance.US: Binance.US supports more than 125 cryptocurrencies and offers investment options for both individuals and institutions. Its account perks also include staking rewards, recurring buys, OTC trading, crypto trading pairs, and stablecoins (assets that are backed by US dollars). But it may not be the best choice for beginner traders since its educational offerings are limited.
• Bitstamp: Bitstamp is a Luxembourg-based company offering more than 60 cryptocurrencies, with options for advanced traders and institutional traders. US clients can trade crypto assets through its subsidiary, Bitstamp USA. The lowest fees start at 0.5%, and you’ll need at least $10 to trade.
• Bittrex: When it comes to account security, Bittrex is difficult to beat. In addition to two-factor authentication, the exchange says it uses a multi-stage wallet strategy to make sure funds are kept in secure, cold storage (offline storage). Bittrex’s transaction fees are also notably lower compared to other exchanges. Keep in mind, though, that Bittrex isn’t available for residents of New York, Connecticut, Vermont, or Hawaii.
• Webull: This online brokerage only requires $1 to start trading crypto, but its investment selection is limited. Webull may not be the best crypto option if you want to trade assets other than bitcoin, dogecoin, bitcoin cash, ether, litecoin, zcash, or stellar.
• Robinhood Investing: This brokerage’s commission-free structure has quite the appeal for those who prefer low-cost investments. Plus, while Robinhood Gold members can earn 5.00% interest on their brokerage cash, non-Gold members can still earn 1.50%. But like Webull and Robinhood’s cryptocurrency selection is on the shorter side. The investment app only offers 17 cryptocurrencies, including bitcoin, bitcoin cash, bitcoin sv, ether, dogecoin, and others. 
• Uphold: This investing platform is a multi-asset digital platform that offers “Anything-to-Anything” trading between different asset classes. It offers cryptocurrencies, stablecoins, environmental assets, and precious metals. You can open an account for just $10. 

Why You Should Trust Us: Our Methodology

We applied Insider’s rating methodology for investing platforms to over a dozen exchanges to find the best options for cryptocurrency availability, low fees, asset/account security, user interfaces, and mobile access. Investment platforms are given a rating between 0 and 5.

We also explored whether exchanges offered services both for individuals and institutions, and we paid close attention to other account options like staking rewards, margin trading, and Stablecoin support.

Rickie Houston

Senior Wealth-Building Reporter

Rickie Houston was a senior wealth-building reporter for Business Insider, tasked with covering brokerage products, investment apps, online advisor services, cryptocurrency exchanges, and other wealth-building financial products.
Before Insider, Rickie worked as a personal finance writer at SmartAsset, focusing on retirement, investing, taxes, and banking topics. He’s contributed to stories published in the Boston Globe, and his work has also been featured in Yahoo News.
He graduated from Boston University, where he contributed as a staff writer and sports editor for Boston University News Service.

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Elias Shaya

Jr Compliance Associate

Elias Shaya is a junior compliance associate on the Personal Finance Insider team based in New York City.
Personal Finance Insider is Insider’s personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that readers already know and love. The compliance team’s mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions.
The team also works to minimize risk for partners by making sure 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.
Elias has a Bachelor of Science in International Business from the CUNY College of Staten Island. Prior to joining Insider, he volunteered at the New York Presbyterian Hospital, where he worked with the biomedical engineering department. In his spare time, Elias enjoys exploring new restaurants, traveling to visit his family in Lebanon, and spending time with friends.

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