Where Can You Find the Best Cryptocurrency Exchanges? If you've been looking into finance at all, you'll definitely have heard about the growing buzz for cryptocurrency. But what is it? And how can you get in on the game ASAP? Cryptocurrency trading is similar to other kinds of finance trading; however, instead of trading stocks or keeping an eye on many markets, price movements, or trends, you just need to focus on one thing: cryptocurrency coins. At the most basic level, when you buy cryptocurrency from an exchange, you purchase the cryptocurrency coins at the value they were worth at the time. Then, you can trade it, and make some money on your online investment.
Best Option
Coinbase is a cryptocurrency exchange that is designed to open up "economic freedom" to more people by providing a platform that helps everyone (even beginners) trade cryptocurrency. Coinbase operates in over 100 countries and offers over $404 billion in assets currently on the platform. Coinbase promises a strong level of compliance in security, including top-level identity verification and protections for your account and digital assets. From 2-factor authentication, multi-approval for withdrawals, and online support 24/7, you can expect to be cared for on Coinbase.
Trade for free with membership
Transaction fees for trading with Coinbase range from .05%-.06% (taker) and between 0% and .40% (maker). This depends on your trading tier and how much crypto value you're moving during your trades. If you want more access to free trades, you can join the Coinbase One membership. This costs $29.99 per month, so depending on how much trading you're planning to do on this cryptocurrency exchange, you might save a significant amount by choosing this option and accessing free trades.
No fee withdrawal with ACH
Depending on what you use to withdraw your funds, there are no fees from Coinbase itself. For example, if you use ACH, it is free to deposit and withdraw. If you choose wire transfers, you'll incur a $25 fee to withdraw. These are separate from the network fees which will still be charged and disclosed at the time you want to withdraw your money from this cryptocurrency exchange.
Praised for being user-friendly
Coinbase is known as one of the most beginner-friendly cryptocurrency exchanges out there today. It has praise from tons of different finance blogs and investor centers. The platform is considered extremely user-friendly with built-in insurance against cyber attacks and a highly customer-focused app and design. You can set up your account online or download the app for training on the go. Once you complete ID verification, you're all set. Plus, you can grow from a beginner to a pro with this platform, making it a great choice no matter your level.
Integrated wallet interfaces with other sites
Coinbase has its own on-platform wallet which lets you store and manage all your coins and tokens in one place. You can buy, swap, stake, and more through the app, and make backups. Coinbase's wallet supports Bitcoin, Ethereum, Solana, Dogecoin, and many more right from the same place. You can swap both natively through Coinbase or on decentralized exchanges with other cryptocurrency exchanges outside of Coinbase.
High praise for user-friendliness and security
Coinbase is one of the more popular cryptocurrency exchanges in our review and it holds a higher rating than most as well. Currently, Coinbase holds an "A+" rating from the Better Business Bureau. On top of that, it currently holds a 3.9-star average rating out of 5 on Trustpilot. Recent reviews note that trading on Coinbase is "fast" and "reliable" and many praise how easy it is to use (mirroring praise from other sources that noted Coinbase was extremely beginner and user-friendly). Customers leaving feedback within a few days of the time of our review say they felt they trusted all the transactions through Coinbase.
Past legal action resulted in better compliance
The only semi-recent legal action for Coinbase was back in 2020, which showed that there were some failures in compliance on this cryptocurrency exchange in 2018 and 2019. However, since then, the company settled (in 2023) with the Department of Financial Services (DFS), and paid out a $50 million penalty as well as invested an additional $50 million into its compliance programs. Along with that, it now works regularly with a DFS independent monitor.
Perfect choice for beginner traders and pros
Coinbase is the best cryptocurrency exchange. On top of being a particularly user-friendly platform, it also has a range of security measures in place (and some new ones as of 2023) to make sure your transactions remain private and protected. With reasonable fees for trades (and free ones if you become a member), there are almost no downsides to giving Coinbase a try. For these reasons, it earns a 5-star rating in our review.
Great
Uphold is a site that wants its name to give you confidence that it'll "uphold" the top security available to make sure your cryptocurrency exchange experience is top-notch. With encrypted wallets, security professionals who complete regular audits, and check-ins from third parties to ensure compliance, Uphold has plenty of security to keep your crypto safe. You get 2-factor authentication, and the Bug Bounty Program offers you financial rewards if you report a bug that hasn't been resolved yet. Uphold uses proprietary technologies like Reserveledger and Reservechain, which are described with full transparency so you know how your holdings are protected. Uphold is also registered with FinCEN in the US and has SOC 2 certification and ISO certification for security.
Fees from .2%-1.6% flat-rate
Like a few other cryptocurrency exchanges in our review, Uphold offers flat-rate trading fees rather than maker/taker fees. Most Stablecoins have a fixed rate of .2%. However, Bitcoin and Ethereum are at 1.4%-1.6%, depending on the trade. This is much higher than most cryptocurrency exchanges, which usually start at less than 1%. Since there isn't a tiered system or by-volume percentages, there's no way to decrease this percentage in the future.
Free withdrawal with ACH
For some cryptocurrency withdrawals at Uphold, there is a flat-rate fee of $0.99. This applies to options like DAG, XDC, SGB, BTG, SOLO, and a few others. For network withdrawal fees, you'll find the common options BTC and BCH offer withdrawal fees between .0003 and .000075. Withdrawal from Uphold itself costs nothing if you choose ACH, and charges for withdrawing via a debit card or Apple Pay are offered at a 1.57% rate.
Use the "Cryptionary" to help learn the ropes
According to finance bloggers and the simplicity of the app and site, Uphold is one of the more beginner-friendly cryptocurrency exchanges in our review. Uphold offers the "Cryptionary" part of the site to help you dive into cryptocurrency without feeling overwhelmed. This is meant to be an on-hand reference so that you can learn the terminology and jargon without any stress.
Paid wallet options for additional features
There are two integrated wallets at Uphold. One is a traditional wallet which is a mixed cold and hot wallet so you can protect some assets and access them for trades when you need them. The second option is called the Uphold Vault. It's a self-custody wallet that requires two keys to move assets. Plus, you can use the Vault's access to the Uphold trading platform to instant trade, and Uphold promises that if the cryptocurrency exchange goes down, your Vault assets will remain accessible at all times. However, there's one snag: you need to pay for the Vault. You can choose either a $4.99 per month subscription plan or a $49.99 per year subscription plan. It does come with a 30-day free trial, though, so you can test out the features and see if the Vault is right for you.
Popular for customers new and old
At the time of our review, Uphold was not rated by the Better Business Bureau. However, on third-party review sites (with thousands of reviews), Uphold has a higher-than-average reputation. Trustpilot shows this cryptocurrency exchange has a 4.3-star average out of 5. Recent reviews praise the platform for having a safe and fun interface, and many of the traders have used this platform for many years and intend to continue doing so. There are further reviews that highlight the easy and fast transactions as well as high confidence in the security of funds. Uphold is full to the brim with praise.
Not a lot of legal buzz (and that's a good thing)
There was one legal concern with Uphold back in 2022. It initially claimed that Uphold didn't protect its accounts following the Electronic Funds Transfer Act. However, the lawsuit has since been settled, and the allegations against security and the former CEO of this cryptocurrency exchange (included in the initial class action) were dismissed.
Perfect choice for beginners
The only thing keeping Uphold from the top spot in our review is the higher-than-average fees for trading. Otherwise, Uphold stands out as a perfect choice for beginners and a favorite among thousands of users who are trading with Uphold already. This cryptocurrency exchange has high security, unique wallet options, and a competitive score on third-party verified review sites. For this reason, it comes in a close second to our top pick in this review.
Very Good
Binance is a cryptocurrency exchange that launched in 2019. Headquartered in Florida, Binance was designed to serve US-based customers and follows US regulations for finance and trading. Binance is fully regulated and registered with FinCEN and holds money transmitter licenses with regular examinations of Binance's internal controls, security, and compliance. Binance offers 160+ supported cryptocurrencies and 170+ trading pairs. Currently, Binance meets SOC 2 and ISO exam requirements, showing compliance for top-level confidentiality and customer data privacy. You also must create a 2-factor authentication to trade on this platform.
Transaction fees free for some trades
Cryptocurrency deposits at Binance are free; however, there are some fees when you withdraw. Tier 0 trading pairs always have a 0% trading fee, and Tier I pairs often have volume-based discounts. Fees will also depend on your VIP level at Binance. For example, at the time of our review, regular users (which is the level you start at) have fees of .10% (maker and taker). But if you're a VIP 9 at this cryptocurrency exchange, the fees are .0110% (maker) and .0230% (taker). If you use Binance's platform-based cryptocurrency coins, you can pay for trading fees with a 5% discount.
Pay between .0000064-.0049 when you withdraw
To give you an idea of withdrawal fees across all of the cryptocurrency exchange platforms we researched, we looked at the fees specifically for the popular cryptocurrency Bitcoin (looking at BCH, BCHA, BTC, and WBTC coins/tokens). All fees can change depending on which processing program (blockchain mining) you use. The fees for Bitcoin at Binance range from .0000064-.0049.
Helpful tips for beginners
Binance offers a mobile app and a desktop experience so you can trade from home or on the go. For beginners, Binance offers an introduction page to teach you how to start trading, explore features, and learn some tips and tricks to make your first trades. With a range of tutorials, blogs, and guides, you can get started with very little stress. These include tips on risk management if you're a little nervous about your first trade. Creating an account is also simple. Once you click to sign up (or download the app to your phone), you'll need to verify your identity, create your 2-factor authentication, and then you're ready to deposit funds (either with a bank transfer, credit card or by transferring cryptocurrency from another location) to this cryptocurrency exchange.
Integrated and cold wallet options
Binance offers secure digital asset storage in US storage facilities. Almost all assets are kept offline in cold wallets with only a small amount of assets (those needed to be liquid) in circulation for daily trading. The integrated wallet with Binance is provided through Web3, and it allows you to swap coins and tokens across different networks while keeping track of all your funds. It easily swaps between the cryptocurrency exchange and wallet functions of Binance as well, so you don't have to jump around while trading.
Some concerns about poor customer support
Binance notably has some concerns from customers who have used the platform. Reviews on sites like the Better Business Bureau as well as third-party review sites like Trustpilot reflect that customers had trouble getting ahold of customer support when issues arose with accounts. While Binance currently holds an "A-" rating from the BBB, the average rating from customers is 1.4 stars out of 5 on Trustpilot. Customers at this cryptocurrency exchange also had some issues with the app glitching during trades and logging traders out before they could get in on time-sensitive trades.
Current class action with the Supreme Court
Now, while this is a beginner-friendly cryptocurrency exchange, it's important to note that Binance is currently facing a class-action lawsuit from the US Supreme Court. The current claim is that Binance failed to warn customers of the risks of investing in some low-cap coins and tokens. While the result of this legal action isn't complete yet, it may be worth keeping an eye on as you decide whether or not to trade with Binance (or at least keep an eye on low-cap trades).
Good choice as a beginner-friendly exchange
There are some decent benefits to Binance, including the security measures of a cold wallet, free fees on trading pairs, and helpful tips to get you started if you're a beginner. While the class-action lawsuit is a bit of a concern, it is mostly centered on low-cap trades, which can be avoided if you don't want to risk it. While some of the low reviews for customer service keep Binance from being one of our top two cryptocurrency exchanges, it's still worth checking out.
Good
Kraken is one of the top cryptocurrency exchanges for euro volume and liquidity. With more than 200 types of crypto, this platform is currently used by over 9 million traders. Kraken was founded in 2001, and it has earned the ISO/IEC specification and completed the SOC 2 examination to meet high international security standards. Kraken also uses advanced cold storage systems to keep your funds secure offline, and the locations are under 24/7 surveillance with armed guards. With additional features like 2-factor authentication, and double confirmation for withdrawals, there are lots of ways to keep your funds safe at Kraken.
Transaction fees start at .25% (maker) and .40% (taker)
Like most cryptocurrency exchanges, Kraken has different maker/taker fees depending on your tier and how much you trade (by volume) in 30 days. However, there are a few different ways to buy crypto on Kraken, and if you use the Instant Buy feature these trades won't count toward your monthly volume. You'll want to make sure you're doing Spot Trading to count toward your tier. The lowest tier (which is for those who trade any amount under $10,000) has a .25% maker fee and a .40% taker fee. At the highest two tiers, the maker fees are 0%, and taker fees at Kraken go as low as .08%.
Some withdrawal methods are free
The withdrawal fees at Kraken are based on the specific blockchain that's handling your withdrawal. To compare the blockchain fees to those from other cryptocurrency exchanges in our review, we looked at the same Bitcoin options at each provider (BTC and BCH were the only two at Kraken). The withdrawal fees ranged from .00001-.0003. As for Kraken itself, it charges a flat fee for withdrawals. ACH and CUBIX are free withdrawals, but if you use another method like FedWire you can pay anywhere from $4-$30, and SWIFT is $35 per withdrawal.
Tons of helpful articles for beginners
There are actually four separate apps to use with Kraken, but you can pick and choose what you need. There's the standard Kraken platform which is available from the Google Play and Apple App Store. Then, there's Kraken Pro which is a more detailed version for those who are financial experts and has more advanced crypto trading options. Finally, you can download the Kraken desktop version to your Mac or PC, and then the Kraken Wallet. On top of apps to help you find the exact experience you want, Kraken also has a range of help articles to teach you how to buy and sell on a cryptocurrency exchange, and tons of blogs to explain different features of crypto trading (like custodial or non-custodial wallets and more).
You're in control of your wallet
Kraken's integrated wallet is connected to the decentralized web with Onchain. You can manage your crypto from any platform. This is a non-custodial wallet which means you have control over your keys to cryptocurrency and complete control of when and how you access your funds. According to our research, Kraken keeps 95% of the funds on the platform in cold wallets. The hot wallets are yours to control at this cryptocurrency exchange.
No government action and some possible improvement
Regrettably, Kraken has a poor reputation on the Better Business Bureau as well as on third-party review sites. According to our research, Kraken holds an "F" rating on the BBB due to 71 complaints that the company did not respond to. On the bright side, Kraken is one of the few cryptocurrency exchanges in our review that did not have a BBB alert for government action. Kraken holds a 1.4-star average out of 5 on Trustpilot as well, with many complaints arising about holds on accounts, and zero responses from customer service when problems arise. While there were a few 5-star reviews more recently, which points to the possibility that Kraken is improving its infrastructure, it may not be ideal for traders looking to do some serious crypto moving. Many of the 5-star reviews are from new or beginner users who are not high-volume or high-tier crypto traders.
No worries about legal action or penalties
While there was an attempt at legal action against Kraken in 2023, where the Securities and Exchange Commission filed alongside Payward Inc. against Kraken, the entire case was dismissed. No action was taken against Kraken for the alleged regulatory issues, and there haven't been any new suits brought against Kraken since then. This does help raise Kraken's rating a bit in our review, given that many of the cryptocurrency exchanges online today have some kind of penalty or pending lawsuits.
Has some potential to improve
There are some points to consider with Kraken despite the lower-than-average ratings from traders. First, it has earned more 5-star reviews in recent weeks, which may point to an uptick in the positive user experience. Kraken also has no current or recent legal action where it was found guilty or fined for poor business practices. The maker/taker fees are reasonable with this cryptocurrency exchange, and it appears to be very beginner-friendly. We'd love to see more positive reviews, but it does stand out for being worth a look if you're new to crypto.
Average
eToro is a cryptocurrency exchange that aims to "revolutionize" how you invest while also growing your knowledge in finance and trading. The company was founded in 2007 as a platform where anyone could trade or invest with transparency and without the steep learning curve that comes with some less user-friendly cryptocurrency exchanges. eToro does a lot of things including stocks, and it didn't actually add crypto until 2017. In terms of security and licensing, eToro is registered with the Financial Crimes Enforcement Network (FinCEN) in the US and is also a registered broker-dealer with the SEC. Plus, funds for eToro are held in top financial institutions that back the trades like J.P. Morgan, Pictet, and UBP.
Flat-rate transaction fees
Unlike other sites that have different maker and taker fees depending on the tier of the trader, eToro charges a single 1% fee for all cryptocurrency trades. eToro calls it opening (taker) and closing (maker), but on both ends the cost is a 1% fee. There are no fees for overnight transfers or custody fees at this cryptocurrency exchange. There is a flat 2% fee for a crypto transfer into your eToro crypto wallet. If you transfer crypto from an external source, there are no fees involved.
$5 withdrawal fees on all transactions
eToro also offers a flat-rate fee for withdrawals. No matter how you withdraw (with a bank card, wire transfer, Skrill, or Neteller), you will pay a flat fee of $5. This also won't change if you withdraw more or fewer funds from this cryptocurrency exchange. The fee is always $5, making everything simple and transparent.
Learn from the eToro Academy
eToro is a beginner-friendly site. Not only does it have helpful tips and tricks at the bottom of most of the web pages (with topics like "What is Cryptocurrency?" or "What is staking?"), you can also sign up for the eToro Academy which offers courses on investing for beginners. The lesson chapters are around 6 minutes each and are totally free to use.
Hot wallet with an interface to other wallets
eToro offers the eToro Money Crypto Wallet as an integrated option for trading and holding your crypto. This is a hot wallet, but it does interface with other trusted wallets, so you can transfer your funds to be held somewhere else if you prefer. Any user with eToro cryptocurrency exchange can use all of the features of the integrated wallet, making it a convenient option.
Mixed reviews, but good for beginners
The ratings for eToro are a bit mixed. According to users who left verified reviews on Trustpilot (at a 4.1-star average out of 5), eToro is one of the favored choices for beginners who find this cryptocurrency exchange user-friendly and perfect for learning. While there are some negative reviews about withdrawal issues, the 26,000+ reviews for eToro are mostly positive, with over 60% of all reviews holding a full 5 stars. Now, the problem is that this isn't reflected on the Better Business Bureau where eToro holds an "F" rating. This is due to complaints filed against the business and some government action.
Settlement reached with legal action
In terms of legal/government action against eToro, our research showed that the Securities Exchange Commission (SEC) accused eToro of operating as an unregistered broker for cryptocurrency. eToro and the SEC reached a settlement in 2024 where eToro agreed to a cease-and-desist order and paid a $1.5 million penalty. Notably, eToro didn't admit or deny the SEC's claims but agreed to offer only a limited set of cryptocurrency options for trading. So, you may find fewer kinds of crypto offered with eToro than with competing cryptocurrency exchanges.
Best for absolute beginners
There are plenty of strong points to consider with eToro. It's a solid choice for absolute beginners, especially with the learning materials and courses available to teach you about cryptocurrency exchanges. eToro's reputation is favorable with most users, though its more limited selection of crypto assets might make it a less helpful option for those looking for a more professional cryptocurrency exchange experience. With the "F" rating from the BBB as well, eToro earns an average score in our review, but you'll definitely want to check out the eToro Academy if you're new to crypto.
Subpar
BitMart is designed for both individual traders and institutions looking to get in on the crypto craze. Promising a commitment to compliance, this global cryptocurrency exchange platform offers a multi-layered security plan. You can access a hybrid model of hot and cold integrated wallet, 2-factor protection, encrypted user data, and "A" ratings from popular cryptocurrency exchange security auditors. Offering over 1,700 cryptocurrencies for trade, BitMart sounds like a great choice; however, there are limitations for US users. As of 2025, BitMart offered its services in the US, but only crypto-to-crypto trading. BitMart did not offer access to BitMart Savings, staking, or futures trading for US customers.
Transaction fees start at .60% maker, .80% for standard users
The transaction fees for traded pairs depend on two factors at BitMart. First, your trading level (which ranges from 1-12). The higher your level, the lower the fees you pay. The second factor is what class of traded pairs you want to go for. You can choose between Classes A, B, C, and D with Class D being the most costly for maker/taker fees. For the lowest Class (D), you can expect to pay .60% (maker) and .80% (taker) fees at level 1, and .22% (maker) and .24% (taker) fees for level 12. At the highest class (A), BitMart shows current fees at .10% maker and .10% taker (level 1) up to .040% maker and .045% taker (level 12) at this cryptocurrency exchange.
Check out the VIP membership for lower fees
If you are a VIP member at BitMart, you can expect significant discounts on your maker/taker fees. For example, Class D traded pairs range from .35% (maker) and .40% (taker) fees at level 1. For Class A, the fees start at .060% (maker) and .080% (taker) and go down from there. The VIP program for this cryptocurrency exchange requires a net minimum deposit amount of $50,000 to get in.
Withdrawal fees from .0001-.001
To compare the withdrawal fees accurately between different cryptocurrency exchanges in our review, we looked at the same type of cryptocurrency (Bitcoin) at each exchange as well as the same types of coins/tokens (BCH, BCHA, BTC, and WBTC). According to our research, we found withdrawal fees from .00001-.001 at BitMart, depending on which coin you chose.
Helpful beginners' handbook
BitMart is reasonably easy to use, including a mobile app and desktop interfaces. It also offers a BitMart Beginners' Handbook 101 directly on the website: a step-by-step guide on how to register, set up your 2-factor authentication, buy and sell, and more. There's a specific section labeled "for users who never owned crypto before", which can help you jump in not just to the BitMart platform but to cryptocurrency exchanges as a whole.
BMX hot and cold wallet
The integrated wallet for BitMart is the BitMart Token BMX Wallet. You can download it on Google Play, the Apple Store, Chrome, and Android. From here, you can manage your trades, coins, and tokens all from one spot. You can easily switch between the wallet feature to the cryptocurrency exchange page or deposit areas of the site. The wallet is a hybrid hot and cold option to give you more security for the cryptocurrency that you don't need liquid for daily trades.
Increased reports of lost money and scams
Currently, BitMart doesn't have a listing with the Better Business Bureau. Instead, we focused our research on customer reviews and news reports on BitMart. On third-party review sites like Trustpilot, BitMart holds a middle-ground rating average of 3.2 stars out of 5. Customers who enjoyed using this cryptocurrency exchange noted that the BitMart support team was extremely helpful with customer service. However, the majority of more recent reviews for BitMart were all 1-star ratings. Customers who had troubles with the platform noted that there were issues with withdrawals, concerns about being locked out of accounts, and missing funds in multiple recent reviews. Interestingly, BitMart is reported by customers to be a very poor experience for beginners. With regular reports of "scams" in reviews as well, it may be safer to avoid this cryptocurrency exchange altogether.
One hack back in 2021 caused large losses
It is worth noting that BitMart suffered from a hack of its systems back in 2021, which resulted in a loss of $196 million in cryptocurrencies. Most users' funds were protected in cold wallets, but the hot wallets were drained for many accounts. This set back a lot of traders and turned many off of trying BitMart.
Not enough benefits for US traders
BitMart has a lot of recent complaints, which may indicate a decline in this cryptocurrency exchange's trustworthiness. It doesn't have the best rates for maker/taker fees and doesn't offer any options for fee-free trades as we've seen on other platforms. While the beginner handbook seems helpful, customers have said that BitMart is not actually ideal for beginners. Considering the increased mentions of scams/lost funds and limitations for US traders, BitMart doesn't compete with the other cryptocurrency exchanges on the market.
Weak
Robinhood or Robinhood Crypto is a cryptocurrency exchange that promises trades at the lowest "on average" cost in the US. Whether you're looking to trade Bitcoin, Ethereum, or DOGEcoin, there are plenty of options for your crypto trading needs (especially if you're a fan of memes like Pepe). The company was founded by Stanford students Baiju and Vlad who opened Robinhood in California to offer access to financial markets to everyone, not just major Wall Street firms. Promising industry-leading security, cold storage for your coins, and crime insurance against theft and cyber attacks, Robinhood's goal is to put money (or the power to trade crypto) into the hands of the poor (just like the Robin Hood from the stories). Plus, Robinhood is licensed in the US and registered with FinCEN.
Flat rate .55% fees
Oddly, Robinhood does not offer traditional taker/maker fees like we've seen on other cryptocurrency exchanges. Instead, there is a flat rate fee of .55% for buying and selling crypto on Robinhood. The fee is applied to the total value of the trade. There are no commissions charged by Robinhood for trading crypto because they use a market maker routing system. The .55% fee is factored into the price you see when buying or selling on Robinhood, so there are no surprises. As for withdrawals, Robinhood charges a 1.75% fee for instant withdrawals to a debit card, but otherwise, Robinhood doesn't charge fees for transferring cryptocurrency within its platform. You will still run into blockchain network fees, but normal withdrawals like ACH are totally free.
Not ideal for beginners
Robinhood stands out as one of the more difficult sites to learn crypto trading from. While there are lots of details, you have to be prepared to do a lot of digging and a lot of reading if you want to learn how to use Robinhood and how to trade crypto at the same time. Since Robinhood is different from most platforms in terms of taker/maker fees, it also won't help to learn it if you want to change or trade with another cryptocurrency exchange in the future. It may even confuse folks who are more well-versed in trading due to the differences on the platform.
Integrated wallet is separate from main app
The majority of your coins from Robinhood are stored in both cold and hot wallets. Robinhood also offers a second app from its main trading platform called the Robinhood Wallet. This lets you manage your crypto on a self-custody basis. You can send and swap cryptocurrencies and access decentralized cryptocurrency exchanges through Web3. However, this is totally separate from the normal Robinhood app, so if you want to do trading outside of crypto, you'll have to go back and forth between two different locations to get everything done.
Concerning practices with account closing
Interestingly, Robinhood holds an "A" rating on the Better Business Bureau despite having a 1.1-star average rating from reviewers on the BBB. With users leaving recommendations like "stay far away from Robinhood," you may want to take a closer look at Robinhood's practices. Similarly, Robinhood holds a 1.2-star average rating on Trustpilot with reviewers calling Robinhood's customer service "absurdly terrible" and describing issues with accounts being closed without any reason. Many customers completely lost access to their funds on this cryptocurrency exchange, and couldn't get any response from Robinhood to resolve the issue.
Robinhood doesn't make a band of merry men
Regrettably, Robinhood has been involved in multiple fines and securities law violations in recent years. It has faced scrutiny over data breaches, failure to accurately report trading data, not offering enough identity theft protection, and violations of short-selling regulations. In 2023, Robinhood paid out $10.2 million in penalties with $200,000 of that being paid to the Commissioner of Financial Protection and Innovation for violating the corporate securities law. This is in addition to the massive class-action lawsuit filed against Robinhood due to the Gamestop debacle in 2021. So, it looks like Robinhood isn't doing a whole lot to improve its compliance.
Misses the "real" trading experience
Robinhood avoids ranking lower only due to the "A" rating from the Better Business Bureau. However, with multiple cases of legal action in the past few years and no particular appearance of improvement, Robinhood isn't a standout for security or helpful trading. It's not ideal for beginners due to the long-form help articles being difficult and a bit dense, and while integrated trading fees may sound appealing, they won't help you if you want to learn to trade anywhere else.
Weak
Bitstamp has been part of the cryptocurrency exchange market since 2011. Currently, this platform serves over 4 million traders and promises to be ideal for pros and beginners alike. Bitstamp currently holds an "AA" rating as a top crypto exchange in the CryptoCompare Exchange Benchmark report. Coins and tokens on Bitstamp are backed and able to be withdrawn at any time and are stored on separate accounts from the Bitstamp corporate assets. Bitstamp also holds 50 licenses and 180 people on staff to work on compliance, legal concerns, and risk management for traders. Bitstamp is also ISO and SOC2 certified for safe trading.
Transaction fees are free for highest-tier traders
Transaction fees at Bitstamp depend on how much you trade within a 30-day period, which puts you in a user tier. The lowest tier is for those who trade less than $10,000 volume (this is not the same as $10,000 of your money being spent) in 30 days, with maker and taker fees of .060% and .080% respectively. The highest tier is for those trading between $250 million and $1 billion, which offers totally free maker fees and a .006% taker fee. The highest three tiers at this cryptocurrency exchange offer free maker fees, which can be helpful if you're not moving quite as much as the top-tier traders.
Only see withdrawal fees when you're ready for your money
The withdrawal fees at Bitstamp aren't transparent until you begin trading. The site only tells you that the fees will depend on the current network transaction fees (depending on which network is processing your cryptocurrency). There is also a fee from Bitstamp as well as the networks. Bitstamp notes that the exact amount will be shown before you confirm your withdrawal, but there aren't any transparent numbers on the FAQ or website as we've seen at some of Bitstamp's competing cryptocurrency exchanges.
Beginner-friendly with learning materials
One of our favorite features of Bitstamp is that on the fee schedule page, Bitstamp offers detailed explanations for how the different fees are broken down and how your pricing tier is determined with the 30-day volume calculation. These details are especially helpful if you're brand new to trading at cryptocurrency exchanges. To make things easy to manage, Bitstamp also offers a mobile app with a basic mode for newcomers who just want to manage their trades, and a pro mode for top traders and crypto experts. Bitstamp has a range of additional beginner-friendly features, like a demo account to try out trading, and is highly rated on financial blogs as a great choice for those who are new to cryptocurrency exchanges.
Integrated wallet only works with Bitstamp
Since Bitstamp is fully backed, there is cash to go behind the digital funds you're trading online. The best part? 95% of the cryptocurrency held at Bitstamp is stored offline. Offline storage protects you against cybercrime. And if you decide to store your crypto in a cold wallet, Bitstamp custodians hold insurance for anything that might go wrong. Bitstamp's built-in wallet lets you store and trade through their platform only, though. Some other cryptocurrency exchanges offer wallets that will interface with other exchanges or platforms. In this case, your Bitstamp wallet will not allow you to trade or send to other wallets. However, you can choose a third-party wallet (and Bitstamp has learning materials to help you pick the right one) and still trade with Bitstamp.
Terrible customer service in recent years
Regrettably, despite some favorable offerings, Bitstamp doesn't stand out in reviews. Currently, Bitstamp holds an abysmal "F" rating from the Better Business Bureau. This is primarily due to a range of complaints filed against the business in recent years. Reviews on the BBB note that while Bitstamp used to be reliable, there are issues with security features, like 2-factor authentication needing to be reset. It's difficult to log in even if you've been trading with them for a while. The ratings are about the same on Trustpilot where Bitstamp holds a 1.8-star average out of 5. While some customers haven't had problems with this cryptocurrency exchange, many of the recent reviews show frustrations with customer service not resolving issues, problems withdrawing funds, and accounts being closed with no way to access money. Yikes!
No legal action since 2021
Bitstamp has had a few lawsuits in the past, but nothing more recent than 2021 where it was taken to court by the SEC, and Bitstamp temporarily stopped XRP trading for US customers. This has since been restored as of 2023. There was also an instance of someone committing identity theft and using stolen funds on Bitstamp, which could contribute to the much higher requirements for login security noted by reviewers.
Not worth the stress with withdrawals
While the beginner-friendly features at Bitstamp may seem appealing, the reviews and ratings tell another story. With a rock-bottom "F" rating due to customer complaints and an increasing number of issues with withdrawals and login issues, Bitstamp isn't ideal for someone hoping for a reliable cryptocurrency exchange. Especially if you're a beginner, you may want to search for a more reliable site.
Poor
Crypto is a cryptocurrency exchange known as "America's premier crypto trading platform." It got its start in 2016 and has built a reputation for easy trading, buying, and selling. Designed with a simple user-friendly app, and access to decentralized exchange options, it's a competitive choice for those who haven't done much with cryptocurrency exchanges before. For all US traders, your balances that are in USD will be held by Community Federal Savings Bank (or other FDIC-insured institutions that are part of the Crypto network). The site also has strict access control to all wallets with security features like passkeys, biometric codes, and more.
Lowest-tier maker/taker fees from .25%/.50%
You can choose from 400 different types of cryptocurrency at Crypto. Fees for trading depend on what you're doing. For example, if you exchange Crypto to Crypto, you'll have 0% fees. Depending on when you trade, Crypto offers deals too. For example, a recent promotion offered 0% maker fees for some spot pairs for about a month. At the time of our review, the basic level (for average users trading less than 1,000 Crypto coins (CRO) had a .25% maker fee and a .50% taker fee. If you're selling less than or equal to 100.00 CRO, you can actually score a negative maker fee at this cryptocurrency exchange (so the maker earns money) starting at .0001% if you already have a CRO balance.
Withdrawal fees from .00022-.0004
To compare withdrawal fees across the cryptocurrency exchanges we researched, we looked at the fees specifically for the popular cryptocurrency Bitcoin (BCH, BCHA, BTC, and WBTC coins/tokens). Across these types, the fees ranged from .00022-.0004. Currently, Crypto also charges withdrawal fees from its own platform at $45 through SWIFT and $15 through Fedwire.
Easy app with help articles for trading
Helpfully, Crypto offers a full app user guide for anyone who is new to the platform. It guides you step-by-step through sign-up and authentication. You can also see a basic guide for buying tokens and selling tokens. There are also more in-depth teaching articles (with photos) to help you with depositing and withdrawing your crypto. Finance blogs note that the interface for Crypto is clean and particularly easy to use, making it a competitive option for beginners looking to try a new cryptocurrency exchange.
Two wallet options (you can use both)
Crypto offers access to hot and cold wallets to give you options for liquidity as well as security. Plus, there are two wallet options with Crypto. You can choose from the app, which acts as an in-house wallet, or Onchain through Crypto which allows you to manage private keys and interface with other apps. You can use both or just the app if you're just getting started with cryptocurrency exchanges.
Customers suggest you stay away
Regrettably, Crypto has some issues regarding trustworthiness and customer satisfaction. This cryptocurrency exchange currently holds a failing "F" rating from the Better Business Bureau. Notably, the BBB states that there is an alert for Crypto due to its large pattern of complaints through the BBB platform. The pattern of complaints began back in 2022, and upon further review in 2024, the BBB noted the recent complaints continue the same pattern of issues withdrawing funds from accounts and a lack of customer service overall. This pattern of complaint is also reflected on other third-party review sites like Trustpilot where Crypto has 1.4 stars out of 5. Customers on Trustpilot noted that Crypto felt "misleading" with additional charges that are hidden. Many of the reviews said that this is the "worst" cryptocurrency exchange on the market.
Recent legal action might indicate other issues
On top of issues with customers, Crypto has been involved with legal action as well. Crypto filed a lawsuit in 2024 against the US Securities and Exchange Commission (SEC): the SEC issued a formal warning that the government should take enforcement action against Crypto, and Crypto retaliated with the lawsuit. However, the lawsuit was dismissed and the SEC closed its investigation.
Keep your money safe and choose another exchange
At the end of the day, if you can't get your money out of your cryptocurrency exchange, there's no point in investing and trading it. Since most of the reviews show a pattern of customers having issues getting their money out of their Crypto accounts and wallets, it might be better to check out one of our higher-rated cryptocurrency exchange sites in our review. As for Crypto, the "F" ratings and higher fees for withdrawals make it a low ranked cryptocurrency exchange until it does more to serve its customers.
Flawed
Gemini is a cryptocurrency exchange with support for over 150 different crypto assets. It has certifications for SOC 1 and SOC 2 for its trading security, is licensed with FinCEN, and is regulated by the New York State Department of Financial Services. On top of trading other cryptocurrencies, Gemini offers its own coins as the Gemini Stablecoin. Gemini also won Nerdwallet's Best-Of Awards in 2022 in the "Best Crypto Exchange for Beginners" category.
Low transaction fees with Gemini's currency
Like most cryptocurrency exchange platforms, Gemini's fee schedule for transactions depends on your usage level. Notably, there are no fees to deposit money into the Gemini cryptocurrency exchange. If you're in the lowest tier, the maker and taker fees are .20% and .40% respectively. The lowest possible maker/taker fees are at the highest tier (tier 10), and you'll score 0% maker fees and .03% taker fees on your transactions. If you trade with Gemini's in-house cryptocurrency (Gemini Stablecoin), the fee schedule is a flat rate at all levels for 0% maker and .01% taker.
Free withdrawal for ACH transfers
Withdrawing from your Gemini account is free if you use ACH, a non-USD bank transfer, or a USD bank transfer into UK and EU institutions. The other offered method (wire transfers) costs $25 per transaction. These do not include the changing blockchain fees that will be visible (and applied) in the system when you're actively trading.
A platform you can grow with
Having won an award for being beginner-friendly in 2022, Gemini initially looks like a decent choice for beginner crypto traders. The platform also has more advanced features for those who are more experienced, which means you can grow with the platform as you learn more about trading on cryptocurrency exchanges.
Integrated and insured hot wallet
Gemini offers an integrated hot wallet for storing your assets if you're hoping to keep most of your crypto liquid. Gemini's hot wallet is insured, offering protection against losses and backed by major underwriters. This cryptocurrency exchange also offers a cold storage system that's completely offline, so that you have a more secure option for your crypto assets.
Locked and frozen accounts lead to missing funds
Regrettably, this cryptocurrency exchange hasn't improved its reputation over the years. It currently holds an "F" rating from the Better Business Bureau, and on third-party review sites like Trustpilot, Gemini has a 1.2-star average out of 5 stars. Recent feedback from users and traders noted that there were higher than average fees for certain types of trades. There were also frequent reports of accounts being locked and Gemini customers unable to access their frozen funds.
Concerning legal issues on multiple fronts
On top of poor reviews, Gemini has two semi-recent government lawsuits. The first was in 2023 when the SEC charged Gemini for selling unregistered securities to retail investors. Further, Gemini did not allow investors to withdraw their crypto, as they didn't have sufficient liquid assets to back the withdrawal requests. The company has been charged with violations of the Securities Act, and investigations were ongoing at the time of our review. The second legal action against this cryptocurrency exchange was settled in 2024 when the New York Attorney General recovered around $50 million from Gemini for investors who were defrauded by the company. Gemini was said to have misled thousands of investors with the Gemini Earn program. Gemini was required to return $50 million in digital assets to those who were locked out of their accounts during the fraud incident.
Stay away from potential fraud
When you see the word "fraud" in the investment world (crypto or otherwise), it should give you serious pause. Gemini's practices (with issues as recent as 2024) are not trustworthy for those hoping to make money trading crypto. With terrible reviews and an "F" rating from the BBB, you'll want to stay away from Gemini to keep your assets safe. Our advice? Check out one of our higher-rated cryptocurrency exchanges in our review instead.
Continued from above...
If you've been looking into finance at all, you'll definitely have heard about the growing buzz for cryptocurrency. But what is it? And how can you get in on the game ASAP? Cryptocurrency trading is similar to other kinds of finance trading; however, instead of trading stocks or keeping an eye on many markets, price movements, or trends, you just need to focus on one thing: cryptocurrency coins. At the most basic level, when you buy cryptocurrency from an exchange, you purchase the cryptocurrency coins at the value they were worth at the time. Then, you can trade it, and make some money on your online investment.
If you're new to cryptocurrency exchanges, here's what you need to know: cryptocurrency is a decentralized market. This means that the currency is not backed by a government entity, but runs across a computer network. This doesn't change the functionality, though, as you can buy and sell the currency through cryptocurrency exchanges and store them in virtual "wallets". Your transactions between yourself and other users are tracked by blockchain technology, which is the digital history of every unit of cryptocurrency, and it shows everyone who has owned the cryptocurrency units across their existence. Blockchain is more secure than normal computer files, making it possible to trade cryptocurrency safely.
When you actually get into trading, you'll need to have an account with your chosen cryptocurrency exchange. There are different kinds of cryptocurrency, and prices to buy in are usually listed in traditional currencies like USD. You'll also want to keep an eye on the "spread" (no, this isn't a tasty selection of snacks, sadly). This is the difference between the buy and sell prices which will be shown to you before you trade. Which price you pay will depend on whether you want to open a "long position" (where you intend to hold the cryptocurrency asset for a long period) or a "short position" (where you quickly trade back and forth) for your cryptocurrency trade.
Whether you're looking to trade Bitcoin, Ethereum, or smaller cryptocurrency coins, there are plenty of exchanges out there to choose from. Now, some are better for beginners while others rely on your knowing a decent bit about cryptocurrency trading from the get-go. The best cryptocurrency exchanges offer a user-friendly platform with learning tools for those who are just getting their feet wet. Plus, you want to keep an eye out for top-notch security (and avoid platforms with lawsuits or attempts to dodge regulations).
If you're new to cryptocurrency exchanges or just want to jump onto a new platform for better trading, doing some digging is the best way to know if you've found a trustworthy cryptocurrency exchange. But don't worry - we've done the hard part for you with our research into each cryptocurrency exchange. So, here are a few factors to keep in mind as you make your final decision:
To help you find the best cryptocurrency exchange to help you get on top of the trading industry, Top Consumer Reviews has researched and ranked the most popular cryptocurrency exchanges online today. Now, you can jump in with all your finance friends, make trades, collect coins, and enjoy the freedom of more funds ASAP!
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