How to Buy Cryptocurrency – Compare Crypto Exchanges

“Crypto has been volatile and I wasn’t sure. But now looks like it’s here to stay, so how do I get started?”

“I’m sold on crypto investing and trading, but my present platform doesn’t offer what I need for more advanced orders. I’m ready to upgrade!”

Are you new to Bitcoin and crypto investing? Or a seasoned buyer looking to improve your platform experience?

We have chosen the best crypto platforms based on their user-friendliness, the number and quality crypto currencies offered, customer care, service fees, speed, security, and the availability of staking, order types, and advanced trading tools.

Find the answers to your questions and essential information about crypto exchanges, to decide which one is best aligned to your style and goals.

Kraken – Best Overall Cryptocurrency Exchange

PROS

• Great for both beginners and advanced traders
• Founded in 2011, one of the world’s oldest and largest platforms
• Uses a single platform for trading across multiple exchanges
• Top-ranked cyber security
• Low fees
• Excellent customer service, including chatbot and phone
• Offers staking and margin trading for advanced investors

CONS

• Not available in New York and Washington states
• Limited number of funding options using fiat currencies

Kraken User Experience & Customer Service

This platform is easy to get started with, even for brand new crypto investors. New accounts are automatically verified in only a few minutes. Kraken Pro for advanced users may take several days for the required documents to be submitted and checked.

Customer service is exceptional. One user cited how Kraken put an immediate freeze on his account when he suspected a hacker at work, simple and quick. Another exchange required multiple verifications over several calls and took several hours to secure the account.

Kraken Security

Client security is superior, with a triple A score on the crypto exchange security ranking site CER. According to Forbes Magazine, “Kraken has not had any major hacking events since its launch of its trading operations in 2013.”

Kraken holds 95% of their deposits offline in cold storage units spread throughout the world. Their servers are protected in secure cages by armed guards 24/7 and by video monitors, and all sensitive personal information is encrypted.

They regularly test their security systems to detect vulnerability before it happens.

Kraken Fees

Kraken’s basic buy/sell/convert fee runs 1.5%, and 0.9% for stablecoins. For complete and current information, see the fee schedule page on the Kraken site.

Number of Cryptocurrencies

200+ cryptocurrencies.

Advanced Investing Options

Kraken offers staking on a variety of coins, such as Ethereum, Solana, and Cardano, and for a higher return than many other platforms.

There is a suite of advanced investing tools to choose from for high-level crypto traders. Margin trading a fairly unique feature and not available on most other U.S. platforms. Futures trading is also supported for select coins.

Binance U.S. – 2nd Place Overall & World’s Largest Exchange

PROS

• The world’s largest cryptocurrency exchange by trading volume
• Binance.US provides many of its parent company’s (Binance.com) advantages
• High cybersecurity ratings
• Low fees (when funded by cash transfers)
• Easy to navigate platform for all user levels
• Advanced trading charts and data graphs for pros

CONS

• Credit card purchases currently unavailable
• Parent company suffered a major hack in 2019
• Not available in Hawaii, New York, Texas, and Vermont

Binance.US User Experience & Customer Service

With three levels set up according to trading experience, Binance.US provides a user-friendly platform for clients of all types. Sophisticated investors will appreciate the collection of useful charts available.

Customer support is available via live chat or email. Binance.US charges low fees for spot trading and reasonable instant-buy fees.

Binance.US Security

Binance.US is ranked in 3rd place by the CER (Crypto Exchange Security Ranking) as of 2022, with a triple A rating.

Although the parent company, Binance, was subject to a major hack in 2019, Binance.US was not affected, and Binance was able to repay losses in full to their clients. U.S. dollar deposits at Binance.US are insured up to $250,000 by the Federal Deposit Insurance Corp. and are held at secure custodial bank accounts.

Binance.US Fees

Binance.US charges a 0.10% basic platform trade fee, plus 0.50% fee for instant buy/sell. For more up-to-date information, see the fees page on the Binance.US site.

Number of Cryptocurrencies

Although the parent company, Binance.com (aka Binance Global), offers over 500 crypto-currencies, people are often surprised to learn that U.S. crypto buyers are not allowed to use their global platform.

Instead, Binance.US offers their customers in the U.S. a selection of over 120 cryptocurrencies. Users can buy, sell, and trade popular assets like Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), Solana (SOL), Cardano (ADA), and many others.

Advanced User Features

Some of the perks offered by Binance.US include in-depth market dashboards, staking, margin trading, OTC trading, API trading, recurring buys, and stablecoins. Users can execute a variety of order types such as market orders, limit orders, and stop limit orders.

Experienced investors often enroll in Binance.US’ Advanced Verification, which allows increased funding limits and high-speed execution for larger trades.

Gemini – Best Crypto Exchange for Beginners

PROS

• Beginner-friendly platform
• Serves all 50 states
• Cryptocurrency holdings can earn interest up to 8.05%
• Top-rated mobile app
• Robust cybersecurity and savings insured
• Output transaction histories and downloadable account statements
• Approved address settings for crypto withdrawals

CONS

• Higher trading fees, unless ActiveTrader account is activated
• Missing some popular coins such as Cardano and Ripple
• Email-only customer service

Gemini User Experience & Customer Service

Some of Gemini’s strong points are its easy-to-use platform and the good quality educational materials. This makes it a popular choice for new users, and helps beginners learn the ropes of crypto investing.

A unique feature that contributes to Gemini’s popularity: the Gemini Earn product lets you earn interest on some of your crypto holdings. Gemini Earn puts your crypto to work, lending your assets primarily to institutional investors for up to 8.05% annual percentage yield (APY). (Just remember, unlike earning interest in a traditional savings account, the crypto you loan is not covered by Federal Deposit Insurance.)

Gemini offers a credit card and Gemini Pay for making retail purchases and receiving payments, and you can keep track of your account activities via their mobile app.

Last but not least, Gemini offers service to users in all 50 states, and maintains a high commitment to compliance with all state regulations.

Gemini Security

CER ranks Gemini as one of the top 10 crypto exchange platforms 2022 when it comes to security. Gemini uses offline cold storage for the majority of their holdings. A small amount of cryptocurrency is held in their “hot wallet” online, and this is insured to protect from loss due to fraud, theft, or security breach.

Clients’ personal information is encrypted and industry-standard two-step authentication is used. Users have the option to set up a “whitelist” of approved addresses for withdrawals. Gemini Wallet and Gemini Custody give you the options of online or institutional offline storage for your assets.

Gemini Fees

According to Gemini, they have a “variety of fee schedules depending on the product and usage level.” The basic transaction fee for orders over $200 is 1.49%. Upgrading to a free ActiveTrader account gives users lower fees. Check out Gemini’s fee schedule page for current information.

Number of Cryptocurrencies

100 + cryptocurrencies

Advanced User Features

For experienced investors and those interested in active trading, Gemini’s ActiveTrader platform offers special features. These include advanced charts and graphs, abundant crypto-to-crypto trading opportunities, and the ability to carry out complex orders in less than a second. ActiveTrader offers extra security and lower trading costs for volume orders.

Gemini doesn’t support margin or leveraged trading, and this may be a downside for some.

FTX and FTX.US – Best Exchange for Crypto Trading & Advanced Orders

Pros

• Good for advanced traders
• Low fees
• Offers margin trading, forex, derivatives, futures trading, leveraged tokens
• Advanced mobile app
• Diverse NFT market
• Lend or borrow money
• Spend and receive payments with FTX Card and FTX Pay
• Strong security and safety

Cons

• Only online customer support, no live phone or chat help
• Smaller cryptocurrency selection
• Not beginner friendly.
• Missing some popular coins like Cardano and Polkadot on FTX.US

FTX User Experience & Customer Service

FTX is a newer platform, established in 2019, but has already become one of the fastest growing spaces in the world of digital currency. FTX distinguishes itself from competitors by offering low fees and innovative products for advanced traders, including their unique leveraged tokens.

While the low fees may be attractive to new investors, it’s not the easiest platform to navigate for beginners, and live phone and chat customer support options are not yet in place. It’s ideal for more experienced traders who are actively buying and selling and want to do more than just buy and hold. FTX offers a large selection of cryptocurrency and a varied pool of trading pairs to choose from, FTX.US offers a smaller selection at present.

FTX Card and FTX Pay allow users to make purchases and receive payments directly to and from their accounts.

FTX.US provides valuable educational resources via its blog. With FTX.US, users can also trade stocks and ETFs, so that everything is on one platform.

FTX Security

FTX and FTX.US have formidable security frameworks, and both carry an A rating on CER. FTX follows industry-standard security protocols, with cold wallet storage, and external backing for hot wallet assets.

Number of Cryptocurrencies

FTX supports 275+, while FTX.US supports only 25.

FTX Fees

FTX.US spot trading fees run from 0.0% to 0.4% of the order cost. See the fee information pages on the FTX.US or the FTX.com (for non-U.S. users) sites for further details.

Advanced User Features

FTX advertises itself as a company designed “by traders and for traders.” To that end, FTX has developed a suite of unique products and services for serious investors.

Margin trading, forex, derivatives, futures trading, and leveraged tokens are some of the special features available with FTX. Plans are in the works for option trading in future. FTX.US offers advanced order types like stop-loss limit orders, stop-loss market orders, trailing stop, take profit, and take profit limit orders. Unfortunately, staking and lending for the purpose of earning interest are not yet available on FTX.US.

Coinbase – Most Popular & Largest Exchange

PROS

• Intuitive, easy-to-use platform
• Excellent educational material with free crypto rewards
• Large cryptocurrency selection
• Excellent security
• Staking available
• iOS and Android mobile apps

CONS

• Higher fees
• Complex fee structure

Coinbase User Experience & Customer Service

Coinbase is the largest and best-known cryptocurrency exchange in the U.S. It’s a good choice for beginning investors due to its user-friendly interface, straightforward onboarding and purchasing process, and top-quality educational materials.

Coinbase provides great customer service options, with phone, email, and live chat options.

Coinbase Security

Coinbase users enjoy some of the best cybersecurity available, ranking in the top 10 and with a triple A rating on CER. Coinbase stores 98% of its assets in offline cold storage, and carries insurance to safeguard custodial accounts of up to $250K (in line with per-depositor FDIC coverage limits).

Coinbase Fees

Coinbase charges a standard 1% charge on all transactions. For current information on the complete fee schedule, trading pair pricing, etc. see the Coinbase fee information page.

Number of Cryptocurrencies

150+ cryptocurrencies

Advanced User Features

As of the end of 2022, the old Coinbase Pro has been phased out and replaced by Coinbase Advanced Trade. Advanced Trade is for serious investors who want advanced charting, in-depth technical analysis, and access to real-time order books.

The platform offers secure trading bots, staking, and high-speed placing of market and stop limit orders. Personalized charting allows users to set up multiple indicators such as RSI, EMA, SMA, and MACD, to give investors a better perspective on pricing.

Bittrex – Most Secure Cryptocurrency Exchange

Pros

• Low fees
• Large selection of cryptocurrencies
• Prioritizes speed and security
• Good selection of advanced trading tools
• Educational content

Cons

• No live phone or email customer support
• Challenging for beginners
• Not available for residents of New York, Connecticut, Vermont, or Hawaii

Bittrex User Experience & Customer Service

Do you prioritize fast trades, stable wallets, and state-of-the-art cybersecurity, with a very large selection of coins to work with? If so, you may find Bittrex a perfect fit. The Bittrex platform is not the simplest interface to use, so it’s best suited for seasoned traders, as beginners may find the platform too complex to start out with.

Bittrex is based in Washington and adheres to U.S. regulations. It’s not available in Connecticut, Hawaii, New York, and Vermont. Customer service is handled by support ticket and Twitter.

Bittrex Security

Security is an area where Bittrex rises to the top, with an A rating on CER. Founded by three cybersecurity engineers, it’s no surprise that offering a safe investment space to their clients is a priority. On top of industry-standard procedures, Bittrex employs a unique multi-stage wallet strategy to ensure that their assets are secure in offline cold storage. Bittrex also lets users set up whitelisted approved withdrawal addresses for their accounts.

Bittrex Fees

Bittrex charges only a 0.2% standard commission fee on trades, and a fee schedule that lowers user costs for higher volume transactions. For up-to-date information, see the Bittrex fee schedule page.

Number of Cryptocurrencies

140+ coins

Advanced User Features

Bittrex offers a host of tools for serious crypto traders, starting with a cutting-edge trading engine that’s built to carry out buy and sell orders at top speed. The platform supports limit orders and stop orders, Cardano staking, and features advanced charting tools and live order books. Bittrex offers users a large number of altcoins and trading pairs.

KuCoin – Best Exchange for Trading Small & Obscure Alt-coins

Pros

• 10 million users in 200+ countries
• Over 600 digital assets supported
• Multiple types of payment
• Supports both fiat-to-crypto and crypto-to-fiat exchanges
• Simple Download of mobile applications
• The existence of micro withdrawal wallets
• Comparatively low transaction costs

Cons

• Not licensed in the U.S.
• No live chat support

KuCoin, with its headquarters in the Seychelles, was founded as a cryptocurrency exchange in 2017. Ever since its inception, it has expanded to become a global powerhouse, with more than 10 million users and a presence in more than 200 countries.

One of the most popular and user-friendly cryptocurrency exchanges in the world, it’s an easy-to-use trading platform for digital currencies like Ripple (XRP), Litecoin, Ethereum, and Bitcoin. KuCoin is a great exchange for traders and investors interested in less known/higher-risk crypto assets.

Crypto.com – Best Exchange for Mobile Trading App

Pros

• Easy to use mobile app
• Vast selection of digital assets
• Offers crypto debit card
• Limited margin trading available
• High security ratings
• Beginner friendly

Cons

• Higher fees for lower volume trading
• Adequate customer service

Crypto.com is a widely recognized cryptocurrency exchange noted for its wide selection of supported cryptocurrencies, tokens, and blockchain-related goods. Users are able to buy, sell, and exchange a wide variety of currencies with relatively low transaction costs.

Crypto.com was selected as the best mobile cryptocurrency exchange app because it offers a comprehensive digital asset trading and investment environment that is easily accessible from your smartphone.

**Choose the Best Exchange for Your**
**Cryptocurrency Investment Goals**

Now it’s time to decide on the platform that works best for your digital currency investment style and aims. The listed platforms all reliable exchanges with strong cybersecurity frameworks. But there’s a great variety between them when it comes to user-friendliness for beginners, features for advanced users, the number of cryptocurrencies available, and trading costs. From this bird’s eye view, make an informed crypto exchange choice and score your investing goals!