We have evaluated which currency exchange is best for you in April 2024. In this guide, we’ll explain the best cryptocurrency exchanges. Based on aspects, like customer support, user experience, and fees!

Quick look: The best cryptocurrency exchanges

Coinbase: Best for new traders 

Robinhood: Best for stocks and cryptocurrency 

eToro: Best for crypto exchanges

Gemini: Best for availability in 50 states 

Binance US: Best for crypto exchanges

Webull Pay: Best for online brokers

Kraken: Best for advanced traders 

Crypto.com: Best for easy to use for crypto debit cards

Uphold: Best for online traders

BYDFi: Best for crypto investors who are frequently trading.

CoinsBase:

Coinbase is the most popular cryptocurrency exchange. It is becoming more famous day by day for its user-friendly interface. Coinbase has awesome features for its new users, like a simple learning module that allows you to earn free cryptocurrency. Coinbase allows customers to purchase and trade different kinds of cryptocurrencies. Coinbase is well-liked by experienced investors. Coinbase was criticized for its high fee on certain transactions under $200, and also customer support is limited. Coinbase provides top-priority customer support who pay $30 per month. Many coinbase users ask is coinbase safe? And the answer is Yes, Coinbase is a safe and secure crypto exchange.

Robinhood:

Robinhood is a stock exchange and also supports cryptocurrencies like Bitcoin and Ethereum. Robinhood provides commission-free stock. Robinhood has its own mobile app which offers its customers a user-friendly interface and is easy to navigate, which allows customers to buy and sell cryptocurrencies. Robinhood has a limited number of cryptocurrencies and it is also criticized for lack of customer support. Robinhood is a well-liked option for modern investors due to its sincere efforts towards democratizing finance. One of the most asked questions is how to use Robinhood. Let me tell you, as we explain above it is easy to use like other apps. If you have used binance you can easily use Robinhood.

eToro:

eToro is a global cryptocurrency exchange that enables users to trade equities, cryptocurrencies, and commodities. eToro mobile app has one of the great features that allows users to observe and replicate trades of profitable investors using the social trading feature. Because of its training materials and wide range of investments, eToro is well known for its new and seasoned traders. eToro is becoming more famous due to its high volume of users and simple and easy-to-navigate app and website. You can easily buy dogecoin on eToro. It has a limited number of coins. You can also buy Tesla stock on eToro. Some users ask how to buy Bitcoin on eToro app? Let me tell you, it’s very easy to go to the trade tab choose bitcoin btc and click on buy. Following this simple method, you can easily buy Bitcoin. There are many options trading on eToro you can check by visiting the official app or website.

Gemini:

Gemini was discovered in 2014 by Tyler Winklevoss and Cameron. Gemini is a digital asset marketplace and custodian that allows users to purchase, store, and sell virtual (digital) money. The Gemini app enables users to hold cryptocurrencies. Gemini is well-known for its fastness, sincerity to security, and legal compliance. Gemini is one of the exchanges which is available in 50 states. Gemini is designed for cryptocurrency for all levels and has a basic version for beginner investors and an ActiveTrader version for advanced investors. Gemini supports more than 100 cryptocurrencies. Gemini’s all assets are validated and backed by digital assets insurance. Gemini was also criticized for high fees and limited customer support.

Binance US:

Binance US is a global cryptocurrency exchange, with an American affiliate called US. It was founded and its headquarters is in Florida US in 2019. Binance provides a marketplace for exchanging several and different cryptocurrencies. Binance has a user-friendly interface app for managing all cryptocurrency assets. Binance is famous for its wide range of cryptocurrency services and trading tools. One of the best features of Binance is the lowest fee on transactions and multiple flat currencies are accepted. Another awesome feature is good security and customer support. Binance supports 130+ currencies. Binance also released several other platforms like Binance lending, Binance staking, Binance academy, and Binance charity, etc.

Webull Pay:

Webull Pay is a digital wallet that helps users to keep track record of their cryptocurrency holdings. It combined with webull pay trading platform to make the exchange of cryptocurrency easy. It has a user-friendly interface that helps users to transact cryptocurrency more easily and conveniently. Webull pay app is used for purchasing and selling crypto with the most advanced tools. Wang Anquan, a former employee of Alibaba Group, founded Webull Financial LLC as a Delaware limited liability company on May 24, 2017. Hunan Fumi Information Technology, a Chinese holding company, owns Webull and is supported by Xiaomi, Shunwei Capital, and other Chinese private investors.

Kraken:

What is a Kraken? Kraken is a well-known cryptocurrency exchange platform that allows users to exchange digital currencies with its safe and easy-to-use software. The Kraken crypto exchange was established in 2011 in San Francisco. It provides margin and future trading platforms. Kraken has strong security that assures secure transactions, proving it to be a dependable choice for cryptocurrency enthusiasts worldwide. Kraken has strong customer support for its new and old users. Kraken supports more than 240+ cryptocurrencies, and it is the oldest Bitcoin exchange platform. It also supports customers in 190+ countries. One of the next-level feature of Kraken is the 0% fee. Kraken is best for exchanging crypto assets like Bitcoin and Ethereum.

Crypto.com

Crypto.com is the most popular cryptocurrency exchange platform. Using its mobile app customers can purchase, sell, and trade different cryptocurrencies. In addition, crypto.com offers safe storage, tracking and even a visa card to purchase digital currencies. It has one of the popular feature if you stake crypto.com cryptocurrency using Visa (credit card) you will get a reward of up to 5%. It has low fees for crypto stakers and strong security. It supports up to 250+ currencies. It also has high fees for those who don’t hold cryptocurrency and limited customer support.

Uphold:

Uphold, previously known as Bitreserve, was founded in 2013 by Halsey Minor. It is a unique exchange that provides the ability to invest in assets like carbon and metals credits. Since 2015, uphold stopped charging trading, deposit, and withdrawal fees, the exchange does charge ‘’spread’’ on trade on current market conditions. Uphold supports 250+ currencies in all 50 states and serves customers in 174+ countries. One of the best feature is you can earn up to 2% rewards on a debit card. Uphold criticized for bad security and high variable spread.

BYDFi:

BYDFi (formerly Bityard) was founded in 2019 and is affiliated with Banxa. BYDFi supports 400+ cryptocurrencies and serves 150+ countries. BYDFi has a strong feature named copy trading. In this feature, users can copy the trading positions of other selected investors. This guide will help beginners to trade smarter in a short time. BYDFi is a Singapore-based cryptocurrency that allows investors globally. BYDFi has low trading fees and is available in all 50 states. BYDFi offers not only a wallet but it also provides cold storage.BYDFi enables traders to communicate with one another in the spot market to quickly settle trades.

What is the best crypto exchange? 

Selecting the best Bitcoin exchange for your needs is solely based on your unique needs. Kraken and Gemini are good options if you’re a professional trader in need of a trade interface with a lot of functionality. However, the straightforward and efficient trade interface provided by Coinbase or Uphold may be advantageous for novice or infrequent cryptocurrency investors.

Difference between a centralized and decentralized exchange

Trades are facilitated by centralized exchanges acting as middlemen. Exchanges match buyers and sellers and facilitate speedy, easy transactions by using “order book” technology.

Users can add their own coin to a liquidity pool on decentralized exchanges like Uniswap in order to facilitate deals. To earn transaction fees when people trade between your own ETH and Wrapped Bitcoin, for instance, you can place these two cryptocurrencies in a pool.

Compared to their decentralized equivalents, centralized exchanges frequently provide better user interfaces and stronger regulatory compliance. Decentralized exchanges, however, are exempt from KYC regulations.

Take a look at our list of the best-decentralized exchanges if you’re interested in starting with one.

How do crypto-exchange fees work? 

Transaction fees:

Transaction costs are incurred when you purchase, sell, or trade cryptocurrencies. There are systems that differentiate between maker and taker fees, thus the way your transaction is described will determine the charge you have to pay. By placing fresh orders, “makers” increase an exchange’s liquidity, whereas “takers” decrease it by fulfilling already-placed orders. Maker fees are usually less than taker fees.

Withdrawal fees:

A withdrawal fee can apply if you take your cryptocurrency out of an exchange. Users of exchanges like Coinbase are charged a 1% withdrawal fee.

Other fees:

Other sorts of transactions, such as purchasing Bitcoin on margin, using a credit or debit card, or utilizing an exchange’s “Quick Buy” tool, could incur additional fees.

What to study when selecting a crypto exchange 

Before registering and initiating transactions with a cryptocurrency exchange, there are a few crucial things to think about. How much bitcoin you want to trade, where you live, and how you want to trade will all influence which cryptocurrency exchange is best for you.

When it comes to funding and trading, all cryptocurrency exchanges are essentially the same. On cryptocurrency exchanges, users register, provide identification, fund their account with Bitcoin or fiat money, and then trade and withdraw their funds.

Our Methodology

Almost twenty-five cryptocurrency exchanges, trading apps, and brokerage platforms that provide cryptocurrency trading alternatives were thoroughly evaluated in terms of features and options.

When utilizing the most basic version of the site, the trading costs displayed for each commission or cryptocurrency exchange are those associated with the lowest volume of trades.

The following Ten essential variables were examined in the data to evaluate the quality of each platform:

Essential Features of Trading: Important indicators were the number of fiat currencies that could be exchanged, the number of cryptocurrencies that could be traded, the overall liquidity of the exchange, and the trading fees.

Features for Advanced Trading: We examined the availability of modern trading tools such as volume discounts for regular traders and advanced order types.

Trading on margin: an evaluation of margin trading rates, if any.

Platform Accessibility. While some of the greatest cryptocurrency exchanges are available worldwide, others differ greatly in terms of how easily accessible certain features are by nation and state in the United States.

Client support: Kinds of customer support that are offered.

Resources for Education. We evaluate the instructional materials provided by every platform.

Credit Card for Crypto Rewards: A few sites provide credit cards with cryptocurrency benefits.

Storage and Security: alternatives for storage, security, and insurance that are offered, along with an evaluation of any significant hacks that have occurred on each exchange throughout time.

Rewards and Staking: Certain cryptocurrencies can be staked by users on certain platforms to receive interest payments.

Crypto Loaning. Users of certain cryptocurrency exchanges can lend out their holdings.

These Ten criteria serve as a benchmark for features and options offered by all cryptocurrency exchanges and brokerages that we analyzed.

Each commission or exchange was given an overall rank based on the total of the weighted values across all or some of these important guidelines. The top cryptocurrency exchanges for beginners were determined without taking into account platform lending, margin trading, or advanced trading.

Should I need to report my crypto exchange activity on my taxes? 

Major exchanges such as Kraken and Coinbase notify the IRS of your cryptocurrency taxes.

However, because cryptocurrency is transferable, exchanges frequently struggle to provide appropriate tax documents. It’s possible that your exchange won’t be able to determine your capital gains and losses precisely if you move your cryptocurrency.