Picking a cryptocurrency exchange is usually the first step when purchasing a digital asset, such as bitcoin or ethereum. These exchanges allow you to buy, sell and trade coins.
Our ranking of the best crypto exchanges and apps of 2024 serves as general guidance on trading platforms. We looked at safety and security among more than 40 leading options and assessed their features, trading fees, withdrawal fees and more.
Best crypto exchanges and apps
- Coinbase Exchange: Best for transparency.
- Kraken: Best for the number of cryptocurrencies.
- Crypto.com Exchange: Best for crypto trading app.
- Gemini: Best for availability in all 50 states.
- Binance.US: Best for low fees.
Why trust our investing experts
Our team of experts evaluates a multitude of investing products and analyzes a host of data points to help you find the best product for your situation. We use a data-driven methodology to determine each rating. Advertisers do not influence our editorial content. You can read more about our methodology below.
- 40 crypto exchanges reviewed.
- 50+ data points analyzed.
- 3-step editorial review.
- 5-step fact-checking process.
USA TODAY Blueprint may earn a commission from this advertiser.
Ad
Our Partner
Bitcoin IRA
Diversify your retirement portfolio
Buy and trade over 60 cryptocurrencies.
Get started
Open an account with Bitcoin IRA in only 3 minutes.
Via Bitcoin IRA's website
Diversify your retirement portfolio
Buy and trade over 60 cryptocurrencies.
Get started
Open an account with Bitcoin IRA in only 3 minutes.
BEST FOR TRANSPARENCY
Coinbase Exchange
Via Coinbase's website
Coins
260+
Trading fees (maker/taker)
0.4%/0.6%*
*Trades for the $0 – $10,000 trading tier.
Why it’s the best
Coinbase is the second-largest crypto exchange in the world. Its rare public status gives investors some badly needed ease of mind in a sector where rivals are notoriously opaque.
The San Francisco-based company offers a wide range of coins, which is excellent if you’re looking for convenience. But you’ll be on the hook for heftier trading fees if you use the platform’s basic version.
Coinbase also offers Coinbase Advanced for active traders. This version offers in-depth technical analysis and charting via TradingView and real-time order books.
Coinbase allows you to stake ethereum (ETH), solana (SOL), cardano (ADA), cosmos (ATOM), polygon (MATIC), tezos (XTZ) and polkadot (DOT).
Pros and cons
Pros
- A public company, meaning there is greater transparency.
- Staking is available for ethereum, solana, tezos, cosmos cardano and polkadot.
- No major hacks.
Cons
- More staking options are offered.
- Coinbase’s competitors offer lower fees.
- Coinbase is not licensed in California, Hawaii, Indiana, Massachusetts, Montana, Wisconsin and Wyoming.
More details
- Staking coins: 7.
- ETH staking: Yes.
- ADA staking: Yes.
BEST FOR THE NUMBER OF CRYPTOCURRENCIES
Kraken
Via Kraken's website
Coins
245+
Trading fees (maker/taker)
0.25%/0.40%*
*Trades on Kraken Pro for the $0 – $10,000 trading tier.
Why it’s the best
When it comes to “bread and butter” features, you can buy cryptocurrency quickly with Kraken Instant Buy.
Kraken charges a flat fee for this service. A spread might be built into the price, determined at the time of the trade.
You can take advantage of lower trading fees by using Kraken Pro. The pro version charges a 0.20% taker fee for stablecoins, pegged tokens and forex pairs. Active traders can reduce trading costs based on their 30-day trading volume.
Kraken suspended its on-chain staking program, although non-U.S. clients can continue through a separate Kraken subsidiary. The company has since announced bonded staking of specific coins is available in Canada. But it’s unavailable in the U.S.
Pros and cons
Pros
- Longer track record than most exchanges.
- Fees are competitive compared with bigger rivals.
- The possibility of going public in the future would increase its transparency.
Cons
- Staking services in the U.S. have been suspended.
- Not available in New York or Washington.
- Kraken Instant Buy is steeper in price.
More details
- Staking coins: 0 (for U.S. customers).
- ETH staking: No.
- ADA staking: No.
BEST FOR CRYPTO TRADING APP
Crypto.com Exchange
Coins
250+
Trading fees (maker/taker)
0.075%/0.075%*
*For Level 1 trades.
Why it’s the best
Crypto.com Exchange is an exchange by trade. But it’s also an entire ecosystem.
Its native coin, cronos (CRO), ranks within the top 40 cryptocurrencies by market cap, according to CoinMarketCap. You can get discounted trading fees by paying in CRO.
Crypto.com also offers a wide range of products, including its Rewards+ program. You can also earn extra rewards through Soft Lockup. It’s a yield-earning program that’s more flexible than the standard CRO lockup.
Most of Crypto.com’s services are available through its mobile app. But unfortunately, New York residents can’t access them.
Pros and cons
Pros
- It’s a good app with an easy-to-use interface.
- Tiered banking cards allow customers to transact in crypto.
- Numerous features within the ecosystem.
Cons
- Came under pressure post-FTX collapse.
- Fees can be high if you don’t hold the native CRO token.
- Some services are only available via the mobile app.
More details
- Staking coins: 18.
- ETH staking: Yes.
- ADA staking: Yes.
BEST FOR AVAILABILITY IN ALL 50 STATES
Gemini
Via Gemini's website
Coins
80+
Trading fees (maker/taker)
0.10%/0.30%*
*For trades up to $10,000 in 30 days.
Why it’s the best
Gemini’s cryptocurrency platform allows you to trade and store over 80 coins. But it offers just three cryptos for staking: ethereum, solana and polygon. Gemini also has a currency called the Gemini dollar (GUSD), a U.S. dollar-backed stablecoin.
The New York-based exchange is available in all 50 U.S. states. It’s lauded for its wide variety of features, including trading, a digital wallet and a credit card. But be mindful that the exchange charges higher fees than its competitors. For example, you’ll be on the hook for a convenience fee if you use the web or mobile app for trades.
Like many exchanges, Gemini has hit hard times recently. Gemini Earn, the company’s yield-earning product, was terminated in January 2023.
Pros and cons
Pros
- Easy to use with a good interface and mobile app.
- Many features are offered.
- Easy to use and stake in ethereum, solana and polygon.
Cons
- Only three coins can be staked.
- The Gemini Earn program suspended withdrawals amid the FTX crash.
- Fees are higher than some rivals for low-volume users.
More details
- Staking coins: 3.
- ETH staking: Yes.
- ADA staking: No.
BEST FOR LOW FEES
Binance.US
Coins
150+
Trading fees (maker/taker)
0.4%/0.6% (some pairs are free)*
*For trades of $10,000 or less in 30 days for Tier I pairs.
Why it’s the best
Binance.US is the U.S. subsidiary of the biggest exchange on the planet, Binance. The offshoot was set up due to the tighter regulatory environment in the U.S.
While it doesn’t offer as many cryptocurrencies as its parent company, you can trade around 150 coins on the U.S. platform. Plus, bitcoin trades are free.
The crypto giant also has a substantial array of coins available for staking. The platform boasts 18, with proof-of-stake coins and more obscure offerings. But residents of Alaska, Hawaii, Maine, New York, Texas, Vermont, American Samoa, the Northern Mariana Islands and the U.S. Virgin Islands cannot use Binance.US.
Pros and cons
Pros
- Bitcoin trades at zero fees.
- Advanced trading features are available.
- It’s a good platform overall, with many options beyond staking.
Cons
- Binance.U.S. offers fewer coins than its parent platform.
- U.S. dollar transactions are suspended.
- Higher fees than rivals for debit card transactions.
More details
- Staking coins: 18.
- ETH staking: Yes.
- ADA staking: Yes.
Compare the best crypto exchanges and apps
| COMPANY | COINS | STAKING COINS | AVAILABLE IN ALL U.S. STATES |
|---|---|---|---|
Coinbase | 260+ | 7 | ✘ |
Kraken | 245+ | 0 | ✘ |
Crypto.com Exchange | 250+ | 1 | ✘ |
Gemini | 80+ | 3 | ✔ |
Binance.US | 150+ | 18 | ✘ |
Methodology
We researched some of the largest cryptocurrency exchanges to rank the best available today.
The top exchanges on our list excelled in areas across the following categories:
- Coins offered and fiat currency is accepted.
- Fees, measured at the upper end of the taker fee for low-volume users.
- Trading features.
- Availability.
- Customer service.
- Education.
- Security.
- Storage.
- Staking and rewards.
Within each major category, we considered several subcategories, combining them to give an overall score for that category.
Editor’s note: Crypto exchanges as an industry are extremely risky. A lot of information is concealed from the public eye. This makes it difficult to assess a company’s financial security confidently.
Why other crypto exchanges and trading apps didn’t make the cut
There are countless other crypto exchanges and trading apps on the market. Exchanges that aren’t well established or lack the necessary size aren’t included.
Many excellent companies exist. But unfortunately, it’s a case of being tarnished by bad actors. The lack of transparency and public disclosures led us to focus on more prominent exchanges.
Final verdict
Each crypto exchange offers pros and cons that suit certain users over others.
There aren’t many reasons to recommend exchanges beyond the biggest ones. Many exchanges have gone under, a pattern that’s unlikely to change going forward.
While more prominent exchanges aren’t immune to becoming insolvent, they are less likely than smaller exchanges. Larger exchanges like Binance.US and Kraken offer more features and greater customer support.
Overall, our top pick is Coinbase. This exchange has the immense strength of transparency as a publicly listed company in the U.S. No other major exchange offers this element.
What is a crypto exchange?
A cryptocurrency exchange is a platform that lets you buy and sell cryptocurrency. You can trade one crypto for another. Or you can turn your fiat currency, like the U.S. dollar, into crypto and vice versa. An exchange typically charges a commission or fee for transactions.
Think of crypto exchanges as brokers for cryptocurrencies. Some online brokers, such as Fidelity and Robinhood, now operate as crypto exchanges. But they tend to be limited in the cryptocurrencies available. For example, Fidelity only allows trading in bitcoin and ethereum. And Schwab only lets clients invest in crypto funds.
“Using these companies is a good option for beginners,” said Matthew Weathers, applied instructional technology administrator and adjunct professor of mathematics and computer science at Biola University in La Mirada, California.
But one of the motivating goals of cryptocurrency was to allow users to act as their own bank by holding their assets themselves.
How to choose the best crypto exchange
With so many spot crypto exchanges, figuring out the best one can be challenging. The temptation might be to go with the exchange that lets you trade the largest number of assets. But there is more than just size to consider.
Security
The cryptocurrency world is like the Wild West. Exchanges come and go almost as readily as crypto assets. They are also rife with scams and fraud. So you should research how the company protects its customer assets before committing.
Reputation
You should look for an exchange that doesn’t have a history of hacks, scams or other occurrences that could limit access to your assets. For example, exchanges might temporarily freeze withdrawals due to technical issues. This can be inconvenient. But the real issue is that regular freezes might be a sign of liquidity issues.
Registration
For the best security, look for an exchange that is incorporated within the U.S. You might also check if it’s registered as a securities broker, money transmitter or depository institution.
You can determine if an exchange is registered as a broker by looking it up on FINRA BrokerCheck.
Money transmitters must register with the Financial Crimes Enforcement Network.
Depository institutions will be registered with the Federal Financial Institutions Examination Council National Information Center. But U.S. registration does not guarantee the exchange is safe. That is evidenced by the now-defunct FTX exchange, which was registered as a money transmitter.
Fees
You want to keep fees low when investing. The same applies to crypto exchanges. Ideally, the exchange you choose will have minimal fees. But a slightly higher fee might be worthwhile if the exchange offers better security.
Most important is that the exchange’s fees are transparent.
Customer service
Check how easy it is to reach the exchange’s customer service department. If you’re still looking for contact information, take your assets elsewhere. Reputable exchanges should be accessible and quick to address your concerns.
How to open a crypto exchange account
To open a crypto exchange account, you must register on the exchange’s platform. Each platform has its own procedure. But you can expect some commonalities wherever you go.
Most exchanges — especially the more reputable ones — require you to provide personal information, such as your name, contact information, employment status and ID. This is because many exchanges follow the Know Your Customer standards. You might also need to be at least 18 and live in a supported country to register.
After verifying your personal information, you must provide a payment method. The options available will vary depending on your exchange. But many allow for bank transfers, debit card or credit card payments. Watch out for the fees associated with whichever funding method you choose. Credit card payments, for example, often carry high transaction fees.
Once you provide the necessary information and verify your identity, you can place your first trade.
Tip: Before your first trade, make sure you set up a wallet account to store your crypto. The exchange will likely provide a hot wallet option, where it stores your coins online for you. But a cold wallet might be a more secure alternative.
Crypto market outlook for 2024
Crypto enthusiasts are optimistic that the Federal Reserve is approaching its terminal interest rate in the current cycle. The central bank could pivot to rate cuts by mid-2024, potentially relieving pressure on crypto and other risk assets.
As of Jan. 10, the U.S. Securities and Exchange Commission has greenlighted spot bitcoin ETFs from various providers. They include VanEck, WisdomTree and BlackRock.
Bitcoin bulls have long believed SEC-approved spot bitcoin ETFs would make it easier for institutional and retail investors to access bitcoin. This could open the floodgates for cryptocurrency to become a mainstream asset class.
Frequently asked questions (FAQs)
While the vast majority of crypto exchanges may (and hopefully do) operate above board, the reality is that there is no way to know. Proof-of-reserve reports have helped for transparency. But they are far from proper audits.
The exception is Coinbase, which is publicly listed. For that reason, Coinbase is required to make public disclosures that private exchanges aren’t required to make.
Tip: If you don’t store your assets on an exchange and use them only to transact before withdrawing assets, that behavior should reduce your risks.
Trading cryptocurrency is different from trading stocks because the regulation rules are different. Cryptocurrency is a relatively new industry, and legislation must still be built up. That means trade can be more difficult, depending on your jurisdiction.
Cryptocurrency is still an experimental area where gambling is a more apt word than investment. While trading stocks is extremely risky in its own right, trading cryptocurrency is even more risk-on.
Binance.US is the best crypto exchange with low fees. Bitcoin trades are free, and there are zero fees for Tier 0 pairs.
You can get 5% off all maker and taker fees when using BNB tokens to pay your trading fees. High-volume traders might qualify for even higher fee discounts, but you must trade a lot to get the best prices.
No one can predict the future, especially not the future of a new and volatile asset like cryptocurrency.
The release of more cryptocurrency ETFs and mutual funds might spur demand. Bitcoin reached a new high after investors poured more than $1 billion into U.S. bitcoin spot ETFs. If this demand continues, investors could see even higher prices from crypto in the future.
The most stable cryptocurrency exchanges include Coinbase, Binance and Kraken. They are among the top 10 largest exchanges by trading volume. Higher trading volume helps stabilize market prices.
That said, stability is largely asset-dependent. Even large cryptocurrency exchanges can see high volatility on thinly traded cryptocurrencies. Cryptocurrency might not be the best investment if you’re concerned about stability.
You can buy cryptocurrency through a cryptocurrency exchange, an online broker, trading apps like Robinhood or money transfer apps like PayPal. Bitcoin ATMs also let you buy bitcoin with your debit card, similar to how you get cash from a standard ATM.
You’ll need to set up an account to make a purchase. This usually requires verifying your identity. Be prepared to provide documentation or your phone number if you use a Bitcoin ATM.
Once your account is verified, you can purchase cryptocurrency with a bank transfer or credit card. Watch out for fees if you choose the latter option.
