Top Crypto Exchanges for Buying and Selling Cryptocurrencies

Cryptocurrency exchanges give facilities to buy, sell, and trade cryptocurrencies, NFTs, and other digital currencies. However, they should only be used by experienced, hands-on traders with knowledge of blockchain trading.

Explore the best crypto exchanges in our crypto exchange guide, including those with the lowest fees and the safest crypto exchanges for buying and selling Bitcoin and other top-performing cryptocurrencies.

What are Crypto Exchanges?

A cryptocurrency exchange is like an online marketplace for crypto coins, tokens, and other digital assets like NFTs. Investors can buy and sell cryptocurrencies for other cryptocurrencies or fiat currencies like USD and EUR.

Types of Crypto Exchanges

Centralized Exchange (CEX): Centralized exchanges are like other regular stock market exchanges. Where companies have exclusive rights to operate and offer features such as fiat on-ramp, liquidity access, and other advanced charting tools and analytics. However, they carry the risks of centralization and custody at their own risk.

Decentralized Exchange (DEX): Decentralized exchanges operate on blockchain technology and are operated by users. Decentralized Exchanges the best example is the Bitcoin system. Decentralized exchanges offer peer-to-peer trading without intermediaries, prioritizing privacy and security. However, they have risks in terms of liquidity, consumer protection, and security breaches.

Compare the Best Cryptocurrency Exchanges

Cryptocurrency exchanges work similarly to stock trading apps, offering competitive fees and resources on digital devices like mobile or desktop. Crypto enthusiasts can buy, sell, and store popular cryptocurrencies like Bitcoin, Ethereum, and other altcoins, in addition to traditional investable securities.

Remember, if you don't want to use your exchange's built-in wallet, you'll need to set up a "hot" or "cold" external crypto wallet to store your assets safely.

Here's a list of some top cryptocurrency exchanges for low fees and access to human advisors, chosen by Business Insider editors.

List of top crypto exchanges

Coinbase

Coinbase is one of the largest U.S.-based cryptocurrency exchanges, and it is a user-friendly digital marketplace that offers hundreds of cryptocurrencies for trading. Coinbase caters to the needs of medium and large-scale traders as well as institutions and high-net-worth clients. Coinbase has three platforms: Pro, Advanced Trade, and Prime Trade.

Coinbase requires a minimum account to get started and offers digital wallet storage for cryptocurrencies and other digital assets. Coinbase's beta NFT trading platform allows creators and collectors to trade without fees.

Cons: Coinbase is still under investigation by the Securities Exchange Commission (SEC). Additionally, if you use a margin account to trade regularly, you may not get good results from Coinbase, and it charges high fees.

Crypto.com

Crypto.com is a globally popular crypto trading platform well known for its diverse rewards, DeFi wallet storage, and user-friendly mobile trading app. While Crypto.com has the convenience of a web-based exchange, most US investors are limited to its mobile app.

Crypto.com includes over 350 cryptocurrencies, including popular crypto Bitcoin, Ethereum, and Dogecoin. The platform accepts over 20 fiat currencies. Crypto.com's mobile app offers facilities such as Visa card benefits, rewards-earning opportunities, crypto-tracking features, and price alerts.

Cons: US investors on Crypto.com will not be able to access advanced trading features like margin trading, OTC trading, staking, and trading bots.

Abra

Abra is a crypto exchange and private client family office and hedge fund services provider in over 150 countries. It offers cryptocurrency and wealth management services such as OTC trading, lending services, and comprehensive investment solutions in sovereign wealth funds.

Individual clients can get tailored crypto trading advice at a relatively low fee and a dedicated account manager is always ready to provide expert guidance 24/7 from a team of professionals. Through Abra Prime, institutional clients can effortlessly access features such as custom crypto, digital asset program creation, cryptocurrency exposure, and trading pairs.

Abra's OTC services provide institutional clients with access to interest-earning accounts, loans, and one-on-one account support.

Cons: There is no retail trading facility in the US, so only Abra Prime and Private services are available to US-based investors.

Kraken

Kraken is one of the oldest and most well-established global crypto exchanges with industry-oriented learning assets and security features. Kraken is one of the safest crypto exchanges for investors who want to trade over 200 cryptocurrencies.

People don't generally consider crypto exchanges to be safe or transparent platforms, so the types of industry-based crypto trading platforms like Kraken are quite different.

The platform offers some fiat currencies as part of its benefits for retail and institutional investors. Kraken gives investors access to margin and spot trading. You can leverage through your account up to 5x for increased liquidity and higher trading volume, and there are no gas fees for NFTs.

Cons: Kraken's futures trading platform is not accessible to traders. Additionally, only institutional and high-net-worth clients can take advantage of the exchange's advisory and account management services.

Binance.US

Binance.US is a popular crypto exchange for crypto investors. Binance is often compared to Kraken. Binance.US is one of the safest crypto exchanges for active crypto traders. However, it is only the runner-up because the exchange has a history of illegal activity.

Still, Binance.US is offering accessible trading features and tools for both retail and institutional investors and is one of the crypto exchanges with the lowest fees. Binance.US offers a variety of features such as cold-wallet storage, staking, and institutional services.

Cons: Binance.US does not offer features like crypto futures or margin trading.

Cash App Investing

Cash App Investing is one of the best crypto exchanges for user-friendly platforms and commission-free trading stocks and ETFs over 1,800 in the USA. Investors can easily buy, sell, and send or receive Bitcoin by linking their Cash App balance to their mobile. You can even choose to have a portion of your paycheck converted directly into Bitcoin when setting up a deposit.

You can send Bitcoin to your friends for free via Cash App's Lightning Network. To store your Bitcoin, Cash App offers an in-app custodial wallet. You can start trading with a minimum amount of $1.

Cons: Cash App Investments only considers Bitcoin trading. If you want to invest in Ethereum or Dogecoin, other top cryptocurrencies, consider other platforms.