After thoroughly reviewing 28 cryptocurrency exchanges across more than 20 key categories, our top recommendations for the best crypto exchanges include Kraken, Coinbase, and Crypto.com. We evaluated factors such as security, asset offerings, availability, fees, financial options, features, and mobile capabilities to ensure we bring you the best choices.
Cryptocurrency exchanges operate similarly to traditional online brokerages, allowing users to trade and invest in digital assets. With Bitcoin reaching new all-time highs above $100,000 on December 5, 2024, the leading exchanges provide all the essential tools to research, buy, and invest in Bitcoin, Shiba Inu, Dogecoin, and more.
Beyond basic buying and selling, many top exchanges offer additional investment services, including staking, lending, and digital asset custody, giving you more ways to grow and secure your crypto portfolio.
Top Crypto Exchanges and Apps for January 2025
- Best for Low Fees and Experienced Traders: Kraken
- Best for Beginners: Coinbase
- Best Mobile App: Crypto.com
- Best for Security: Gemini
- Best for Altcoins: BitMart
- Best for Bitcoin: Cash App
- Best Decentralized Exchange: Bisq
Top Crypto Exchange Recommendations
Selecting the ideal cryptocurrency exchange is a critical step for any investor venturing into the crypto space. Whether you prioritize seamless liquidity, minimal trading fees, diverse asset options, or a smooth mobile trading experience, there’s a platform designed to meet your specific needs.
For those seeking a secure and regulated exchange with a vast selection of cryptocurrencies, Gemini is an excellent choice. On the other hand, if your focus is on trading emerging and small-cap tokens, BitMart stands out as the top contender. For investors exclusively interested in Bitcoin, CashApp offers unmatched convenience.
Advanced traders exploring sophisticated crypto derivatives strategies will appreciate the robust features provided by Kraken, while privacy-focused users can benefit from the enhanced anonymity of the decentralized exchange Bisq.
How to Choose the Best Crypto Exchange
Are Crypto Exchanges Worth It?
If you’re considering purchasing cryptocurrencies, signing up with a crypto exchange is often the most effective way to begin your journey.
While a local Bitcoin ATM might suffice for buying small amounts, using an exchange becomes essential if you’re planning to invest more substantial sums or diversify your holdings across multiple cryptocurrencies.
Crypto exchanges are widely regarded as the safest and most legitimate method for acquiring digital assets. Here’s why they’re often the preferred choice:
- Convenience: Exchanges enable users to buy and sell cryptocurrencies through online platforms or mobile apps, offering seamless access to the crypto markets anytime, anywhere.
- Diverse Offerings: Most exchanges provide access to a wide variety of cryptocurrencies, making it easy to build a diversified portfolio.
- Enhanced Security: Leading platforms safeguard user funds by storing the majority of assets in cold storage, minimizing the risk of hacks.
- Regulatory Compliance: Reputable exchanges adhere to Know Your Customer (KYC) and Anti-Money Laundering (AML) standards, ensuring users engage with legitimate and transparent entities.
For investors serious about exploring the crypto market, a trusted exchange is an indispensable tool.
How to Select the Right Crypto Exchange
Choosing the best crypto exchange to meet your needs requires careful consideration of several key factors. Here’s what to prioritize:
- Supported Cryptocurrencies: If you’re interested in assets beyond Bitcoin, check the list of supported cryptocurrencies. Some exchanges offer only a handful of options, while others provide access to hundreds of digital tokens.
- Payment Options: Look for platforms that support convenient funding methods. While wire transfers are commonly accepted, many exchanges also allow purchases via credit cards, debit cards, and other digital payment systems.
- Fees: High fees can erode your profits, so it’s important to understand an exchange’s fee structure. Common fees include trading and withdrawal fees, but some platforms may also charge additional transaction fees.
- Security Measures: Given the prevalence of cyberattacks in the crypto industry, prioritize exchanges with robust security features such as cold storage, two-factor authentication (2FA), and insurance against breaches.
- Customer Support: For beginners or those unfamiliar with cryptocurrency trading, excellent customer service can make a significant difference. Choose an exchange with responsive and helpful support.
- Reputation: Research the exchange’s track record before committing. Read user reviews, investigate its history, and stay updated on any news that might reveal potential issues or risks.
Taking the time to evaluate these factors will help ensure you select an exchange that aligns with your investment goals and provides a secure, user-friendly experience.
How to Create an Account on a Cryptocurrency Exchange
Setting up an account with a cryptocurrency exchange is a straightforward process, similar to opening an online brokerage account. Investors will need to provide some personal and financial details to get started.
Here’s a step-by-step guide:
- Sign Up
Begin by creating an account using your email address and setting a secure password. You’ll typically receive an email prompting you to verify ownership of your email account. - Provide Personal Information
Fill out the required fields with your personal details, such as your full name, address, and phone number. You’ll also need to upload a government-issued photo ID, like a driver’s license or passport. - Complete Identity Verification
Many exchanges require additional steps to confirm your identity. This may involve taking a selfie or a live photo of yourself holding your ID, then submitting it for verification. - Fund Your Account
Once your account is verified, you can deposit funds using the exchange’s supported payment methods. After funding, you’re ready to buy, sell, and trade cryptocurrencies.
Verification Times and Tiers
The time required for verification varies, ranging from a few minutes to several days, depending on the platform and the level of verification needed. Many exchanges offer tiered verification, where lower levels require less information but come with restrictions, such as lower deposit and withdrawal limits.
By completing these steps, you can access the cryptocurrency market and start trading confidently.
Why You Can Trust Us
Our team conducted in-depth research and analysis of critical data points across numerous cryptocurrency exchanges to determine the most important factors for selecting the best platform. We evaluated each exchange based on fees, supported cryptocurrencies, minimum deposit requirements, and key features to deliver an unbiased, thorough review.
This process ensures that we provide readers with reliable information to make informed decisions aligned with their financial goals. Since our founding in 1999, we’ve been a trusted resource for financial insights, and since 2020, we’ve been helping readers navigate the evolving cryptocurrency landscape with confidence.
