Top 10 Cryptocurrency Exchanges: Best Crypto Trading Platforms Reviewed

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Best Cryptocurrency Exchanges

The fast growth of cryptocurrency has been the rage for quite some time now, with investors wanting in on the promising profits of cryptocurrency.

However, there has been skepticism around the credibility of some cryptocurrency exchanges, especially considering how easy some systems are to hack.

No one wants their Bitcoin stolen by hackers. Whether you are already a crypto investor or you’re new to it and want more info on crypto trading, this article reviews the 10 best cryptocurrency exchanges on the market right now.

10 Best Cryptocurrency Exchanges in 2021

#10: Gemini – Best Crypto Exchange For US Traders

Pros

  • Good security
  • Easy-to-use interface
  • No deposit fees
  • Good liquidity

Cons

  • Serves limited countries
  • Needs a lot of personal information
  • Higher fees than other exchanges

Launched in 2014 n New York, Gemini is a crypto exchange with 20 cryptocurrencies and over 25 fiat currencies.

This cryptocurrency exchange offers a bonus of $10 on sold or bought Bitcoins worth $100, and it also runs a Gemini Earn promotion for users to earn up to 3.5% interest with Bitcoins when they save crypto.

However, Gemini accounts have a $5,000 daily deposit limit and a $30,000 monthly deposit limit, so it’s not ideal for high rollers. You can also withdraw a maximum of $100,000 daily.

For security, assets are stored in cold storage, and user funds are insured by FDIC.

However, a fee of 0.50% is charged on trades, and a fee of between 0.99%-1.49% is charged on transfers. That’s pretty good compared to some of the best crypto exchanges, but there are better rates out there.

#9. Trade Station – Most Varied Trading Options

Pros

  • Good quality educational tools
  • Crypto trader community
  • Advanced tools
  • Reputable

Cons

  • Only 4 cryptocurrencies
  • Poor customer service
  • Unclear pricing structure
  • Not a crypto-specific exchange

Based in Florida and founded in 1982, Trade Station has gained popularity due to its longevity and credibility. It is most popular among advanced and intermediate crypto investors.

Although mostly known for stock trading, Trade Station allows users to buy, sell, invest, trade, and earn, offering just 4 cryptocurrency options: Bitcoin, Bitcoin Cash, Litecoin, and USD Coin.

So yeah, a little limited on the coin front.

Still, this brokerage offers a 6% interest rate, accruing daily and paid monthly, allowing you to deposit and trade assets to your heart’s content while building up decent interest.

The mobile app comes with an easy-to-navigate interface that you can customize to your preferences, and they have 24/7 customer care, though many reviews allege sloppy customer care.

#8. Robinhood – Best Low-Cost Trading Platform

Pros

Easy user interface
No commission fee
Good security
Instant access to cash deposit
Takes many fiat currencies

Cons

Funds are not withdrawable
Only 7 cryptocurrencies
No anonymity
Hidden fees

Launched in 2013 and based in the US, Robinhood was started as a broker company for stock traders. However, in 2018 it started offering crypto services and appealed to mostly young and inexperienced investors looking to try crypto trading.

You probably know it from that whole GameStop fiasco.

The crypto exchange, which currently offers 7 main cryptocurrencies, receives most of its reputation for its pleasant user-friendly mobile app interface and no fees charged on crypto trades.

Robinhood also has decent security measures, with two-factor Google authentication to ward off hackers and a device management system that allows you to remove access to other devices that you don’t authorize.

On the downside, although most of the services are free, some users have pointed out hidden charges with claims that fees charged by intermediary companies are delegated to the users.

And although quite big among crypto beginners, Robinhood does not offer withdrawable crypto funds, so you’re forced to transfer funds to other external accounts. Not ideal.

#7. Bisq – Best Decentralized Crypto Exchange

Pros

Decentralized exchange
Good security
Variety of payment options
Low fees
Not geo-restricted

Cons

Low liquidity
Open for fraud

Bisq was launched in 2014 and is a decentralized exchange ― servers are distributed all around the world as opposed to having a headquartered central building. In other words, it’s basically impossible for someone to steal your money.

Bisq offers 120+ cryptocurrencies and many fiats too.

Unlike other exchanges, Bisq doesn’t need personal user information, as it does not need verification. That’s both good and bad, depending on your motives.

To work, a crypto trader places an order to another trader, or a trader takes an order from someone else. Although many payment options are available, traders have to agree to what the mode of the payment would be for funds to be accepted.

A trader who makes an order pays a commission of 0.1%, and a trader who takes the offer pays a fee of 0.3%, making it about 0.00005 Bitcoins in fees at the least.

#6. Coinmama – Best Bitcoin Brokerage Service

Pros

Good customer care
Easy-to-navigate website interface
Live pricing
Bitcoin sold directly
Comes in many languages

Cons

No mobile app
High fees
No crypto-crypto transactions
Can’t sell Bitcoin without an EU bank account

Launched in 2013 in Tel Aviv, Coinmama is a cryptocurrency brokerage with 2 million worldwide users spread over 188 countries.

Unlike exchanges, brokerages sell their crypto to investors. Coinmama offers 10 cryptocurrencies (including Bitcoin) that they can sell to you at great rates.

What’s more, you can pay using a debit/credit card, bank transfer, wire transfer, and Apple pay. However, a 5% and 5.5% fee is charged on all deposits and purchases, respectively.

It’s convenient ― but at a price.

However, when it comes to security, you get a private e-wallet key to protect yourself from hackers. This leaves your money much less vulnerable to attacks, so you can sleep soundly knowing that your digital currency is protected.

#5. Crypto.com – Best Sign-up Bonus

Pros

  • Good security
  • Low fees
  • Huge crypto coin collection
  • Up to $50 sign-up bonus
  • Regular promotions

Cons

  • Complex app system
  • Poor customer service
  • Poor privacy
  • Unclear source of funding

Founded in 2016 and based in Hong Kong, Crypto.com is a popular cryptocurrency platform that allows its users to trade, buy, sell, and spend. The exchange service is most popular for its remarkably low fees of between 0.04%-0.20%.

Crypto.com allows you to have a non-custodial DeFi wallet that has a separate app of its own. With it, you can link that account to your main one for ease of transfer of funds.

The exchange service also offers a program called Crypto Earn where users can stake their coins for a renewable period of 1 or 3 months and earn interest of up to 12%.

Typically, the longer you stake, the more interest you can earn.

In case of inquiries, Crypto.com boasts 24/7 customer care with options of in-app live chat, email, and phone support. However, slow customer service has been the source of their biggest criticisms, with some users reporting calls going unanswered or delayed services.

Crypto.com runs on mobile apps only, so you’d better be an on-the-go trader!

#4. eToro – Best Trading Platform For Crypto & FOREX

Pros

  • No commission on cryptocurrency
  • Easy-to-navigate user interface
  • Easy for US crypto investors to sign up
  • Multiple coins traded (BTC, ETH, etc.)

Cons

  • High trading fees
  • Poor customer service
  • One account-based currency

eToro was established in 2007 in Tel Aviv, Israel, as a social trading exchange. It now has its headquarters in London, with 17 million users globally spread over 100 countries. In 2018, it launched in the US with a cryptocurrency-only platform.

The exchange offers 6 crypto coins (Bitcoin, Bitcoin Cash, Ethereum, XRP, Litecoin, and XLM) for investors. While it’s not a lot, these are the biggest crypto coins that most people are looking to trade, so it makes sense.

On crypto charges worth $1,000, eToro offers a $50 bonus. However, eToro charges a high 0.75%-2.90% trade fee, depending on the trade amount.

No platform is perfect!

Deposits take about 7 days to be cleared for use, with only one standard currency ―USD. All foreign currency deposits and withdrawals are subject to a fee, so it’s definitely best if you’re a US trader.

Nonetheless, if you want a simple and reputable system that allows you to trade the biggest coins on the market, then eToro might be the cryptocurrency exchange for you.

#3. Kraken – Best Customer Support of Any Crypto Exchange

Pros

  • Good security features
  • Stylish user interface
  • Reputable site
  • 7 fiat currencies
  • 50+ cryptocurrencies

Cons

  • Not for beginners
  • Slow account verification
  • Poor customer support

Based in the US, Kraken launched in 2011 and relaunched in 2013. The exchange currently offers 50+ cryptocurrencies, so you’ve got plenty of options to trade with.

Kraken offers 3 packages of accounts: starter, intermediate, and pro. The starter account allows for deposits, exchanges, and withdrawal of cryptocurrency.

Perfect if you’re just getting used to crypto!

There are average fees on trades: between 0.9%-1.5% depending on the amount of the trade. This makes it one of the cheaper crypto exchanges that’s a good reputation.

On the downside, although customer support assures users of 24/7 availability, there are some bad reviews about the service.

You are required to provide ID for any deposit for account verification, which is great for security, and there are 7 fiat currencies accepted at the time of writing (USD, EUR, CAD, GBP, CHF, JPY, and AUD).

#2. Coinbase – Best Place To Buy Bitcoin for Beginners

Pros

  • See all your coins in one place
  • Simple UI for beginners
  • Insured
  • Buy Bitcoin easily
  • Good variety of altcoins

Cons

  • Expensive compared to other crypto exchanges
  • Few payment options
  • Custodial wallet

Launched in 2012, in San Francisco, California, Coinbase has accrued over 30 million users worldwide, with users cutting across 103 countries.

This crypto exchange mostly caters to inexperienced investors looking to trade in cryptocurrency, so this is perfect if you’re a beginner who’s looking to learn the ropes without being overwhelmed by graphs and data all over the screen.

Coinbase allows for bank deposits, bank transfers, PayPal, and credit/debit card transfer payments. However, the exchange has rather expensive fees at $0.99-$2.99 for purchases under $200 and an additional 0.5% fee depending on the amount traded.

On matters of security, Coinbase has FDIC insurance that allows users to be fairly compensated if the company ceases to exist, and cold storage is used to set aside 98% of user funds, so theoretically only 2% of your money could ever be stolen at any time.

They’re good odds!

If you’re looking to get started as a crypto beginner, there’s no better place than Coinbase, in our opinion.

#1. Binance Best Cryptocurrency Exchange Overall

Pros

  • 50+ cryptocurrencies
  • Reputable
  • Low fees
  • Easy-to-use website interface
  • Good security

Cons

  • Not available in 7 US states
  • Not ideal for beginners
  • Poor customer service

Launched in China, in 2017, Malta-based Binance is among the most popular crypto trading exchanges globally. In 2019, Binance-US was launched in San Francisco for U.S. residents.

Binance allows you to buy, sell, and trade cryptocurrency, charging 0.1% on trades. You have the option to earn interest on your coins by staking them for a while and earning an interest rate of between 0.5-10%.

You can purchase crypto using bank deposits, bank transfers, and credit/debit cards, so there are a lot of payment methods to choose from. However, a heavy 4.5% fee is charged on debit card purchases.

For security measures, Binance has an asset fund as insurance in case user funds are stolen and a 2-Factor Authentication system (2FA), although reviews have reported glitches with the authentication system.

Nonetheless, there are 50+ coins available on Binance, so you’ve got a ton of options if you’re looking to trade Bitcoin, Ethereum, and many other coins.

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