The best crypto exchanges and apps

We scored eleven US-compliant exchanges on ten metrics: maker and taker fees, spread on the top five trading pairs, staking lineup, withdrawal limits, security audits, SOC certifications, insurance coverage, mobile usability scores, customer-support response time, and regulatory record.

Our results rank BYDFi as the lowest-cost venue for active traders, Coinbase as the easiest on-ramp for first-time buyers, Gemini as the security standout, Binance.US as the best staking hub, Crypto.com as the most polished mobile app, and Kraken as the top choice for pro tools.

Best crypto exchanges reviews

What is the safest crypto exchange?

Gemini distinguishes itself as the safest crypto exchange through an unwavering commitment to security and adherence to regulatory standards. From New York, this exchange ensures the safety of user funds through hot wallet insurance in the event of a security breach.

To boost security, Gemini encourages the utilization of two-factor authentication and grants users the ability to review and authorize devices accessing their trading accounts. 

Notably, Gemini holds an SOC 2 certification, indicating that external auditors have validated the effectiveness of the company’s security and compliance frameworks. Given the platform’s unparalleled security, paying Gemini’s slightly elevated fees may be a reasonable trade-off.

Why are certain cryptocurrency exchanges unavailable in the United States?

The United States imposes rigorous regulatory measures on crypto exchanges, making it challenging for American traders to identify suitable platforms for their trading needs.

In the U.S., cryptocurrency exchanges are regulated by the Commodity Futures Trading Commission (CFTC). The CFTC enforces anti-money laundering programs, FinCEN regulations, and other mandates issued by various government agencies.

Specifically, cryptocurrency exchanges operating in New York State are categorized as money transmission services, compelling them to obtain specific licenses.

Additionally, exchanges facilitating transactions involving crypto assets classified as securities under US federal securities laws must adhere to various requirements set forth by the Securities and Exchange Commission (SEC) to ensure compliance.

Learn more about Binance vs Coinbase.

Which crypto platform has lowest fees?

Robinhood offers no-fee crypto trades but isn’t considered a comprehensive crypto platform. Among the top crypto exchanges, BYDFi sets the bar for minimal fees, including withdrawals, trading, funding, deposits, and management. 

By employing a “maker-taker” fee model, BYDFi ensures that makers (those contributing liquidity through limit orders) benefit from reduced fees compared to takers engaging in market orders. 

BYDFi Fee Structure

What is the best crypto exchange for beginners?

Coinbase stands out as the best crypto exchange for beginners because of its extensive selection of supported cryptocurrencies, fortified security protocols, and sophisticated trading tools, seamlessly integrated into a user-friendly interface tailored to accommodate newcomers and advanced traders.

Coinbase emerged in 2012 to simplify Bitcoin transactions. Since then, It has evolved into a decentralized exchange boasting a valuation exceeding $13 billion and accessible in over 100 countries. Renowned for its intuitive design, robust security measures, and advanced trading capabilities, Coinbase holds a special appeal to those just starting in crypto.

Learn does KuCoin report to the IRS?

How to select a crypto exchange in the United States

Choosing the right crypto exchange involves considering several standard factors, including the required identification documentation, trade limits, currency support, and trading fees.

However, when selecting a crypto exchange based in the United States, additional considerations come into play. Beyond examining fee structures, security measures, and deposit/withdrawal methods, ensuring that the exchange is legally permitted to operate in your jurisdiction is crucial.

When evaluating a U.S.-compliant crypto exchange, focus on the following factors:

1. Regulatory Compliance: Ensure that the exchange complies with U.S. regulations to avoid future issues, as exemplified by the 2019 case where Binance.com investors lost access to their cryptocurrency.

2. ID Requirements: Many U.S.-accessible cryptocurrency exchanges may require more identification documentation, such as proof of address, than their international counterparts.

3. Trade Limits: Some U.S.-available crypto exchanges restrict the amount of cryptocurrency that can be bought or traded within a single day.

4. Trading Pairs: Before signing up, check if the exchange supports the specific crypto asset you intend to trade. Certain U.S.-based exchanges, like Gemini, may not offer as many cryptocurrencies as major international platforms.

5. Hacks and Security: Given hackers’ frequent targeting of cryptocurrency exchanges and traders, prioritize exchanges with a strong security track record. Look for security features like two-factor authentication to enhance protection.

Final verdict about the best crypto exchange

Briefly, if you’re looking to begin in crypto, Coinbase is a solid option. More advanced traders might consider Gemini for its extreme commitment to security or Binance.US for staking. BYDFi can be a great option for active traders because of its comparatively low fees.