8 Best Crypto Trading Platforms 2024
While selecting the best cryptocurrency exchange for your needs, it's critical to evaluate supported currencies, pricing, withdrawal options, and security, as we did when developing our list of the best exchanges for crypto trading. Continue reading to learn which cryptocurrency exchange is most suited to your requirements.
Traders Union's crypto specialists have compiled a list of the finest crypto trading platforms and cryptocurrency exchanges for 2023. These bitcoin trading platforms provide the greatest bitcoin and altcoin trading conditions.
Start trading cryptocurrencies right now with Coinbase!
Best US Bitcoin Exchanges and Crypto Brokers Comparison
| Broker | Trading Fees | Advantages | Number of Coins (look it here coinmarketcap.com) | |
|---|---|---|---|---|
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0.50% per trade, 3.99% for credit card purchases, 1.49% for wallet or bank purchases |
Great altcoin choice, user-friendly, high liquidity. |
114 |
|
|
|
0.1% spot trading fee, 0.5% instant buy and sell fee |
Low fees, great crypto variety, advanced charting. |
62 |
|
|
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0.9% for stablecoins, 0-0.26% for trades |
Great trading features, margin trading available, great security. |
98 |
|
|
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0.1% maker and 0.2% taker fees |
Lots of order types, lots of assets, anonymous. |
160 |
|
|
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No commission fee, conversion fee is 0.1% |
Low account minimum, excellent social and copy trading. |
27 |
|
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No commission, $5 per month for Robinhood Gold premium account |
Extremely user-friendly mobile app, low fees, good security. |
7 |
||
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0-0.35% maker and taker fees |
Low account minimum, great variety of coins, top-notch security with cold storage. |
250 |
||
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0.50% per trade, fixed fee for trades under $200, 1.49% for trades over $200 |
Easy to use, great for beginners, fees are decent. |
56 |
Coinbase – Best Bitcoin Exchange in the US
Coinbase has generally avoided any scandal in the cryptocurrency market, which has been plagued by counterfeit currencies and dodgy exchanges. Coinbase provides an incredibly user-friendly exchange, decreasing the barrier to entry for cryptocurrency investing, which is often perceived as complex and perplexing.
Investors and traders can also put their money in Coinbase's custodial wallets, which are insured. They're covered against data breaches, and your money is kept in FDIC-insured bank accounts. The Coinbase custodial accounts are ideal for novice users getting their feet wet, but the private keys to the coins belong to Coinbase, not the investor. Withdrawal from Coinbase is simple and fast.
Coinbase Exchange
Coinbase now provides the Coinbase Pro edition, which has the same pricing structure but substantially more charting and indicator choices. Coinbase Pro is a great next step for individuals who've gotten their feet wet with Coinbase, and it helps complete out the whole offering by providing capabilities that a more sophisticated user would appreciate.
Binance US - Best International Crypto Platform
Binance.US is a domestic cryptocurrency exchange with industry-low fees and a large selection of cryptocurrencies to trade. Binance.US is a basic, form-based platform optimized for transactions under $10,000 that allows you to buy, trade, and convert its tradable cryptocurrencies quite naturally.
Binance Exchange
Limit, market, and stop-limit orders, as well as two comprehensive trading dashboards chock-full of vital data including spot price and 24-hour highs, lows, and trading volume, are available to more advanced users. Binance US is a member of the Financial Crimes Enforcement Network of the United States.
Kraken – Best Crypto Exchange for Active Traders
Kraken allows users to convert fiat currencies like the US dollar, Euro, Canadian dollar, and British pound into bitcoin. Traders may also trade their crypto coins for other coins. Kraken offers over 90 cryptocurrencies for purchase or exchange using fiat cash. Kraken offers a variety of ways to fund your account with fiat currency. Kraken takes advantage of organizations that offer money transfer services, so there are plenty of transfer options available. Each account has its own set of minimums, maximums, and fees for funding it. Maker and taker costs, on the other hand, fall as your 30-day volume grows.
Kraken Exchange
FinCEN is the regulatory authority in charge of Kraken. Client money at Kraken is stored in clients' personal bank accounts at our partner institutions, which are strictly regulated. Overall, for aggressive traders, this is an excellent platform.
Bitfinex - Best Crypto Exchange for Professionals
Bitfinex is a seasoned bitcoin exchange with a shady history of hacking and accusations. The exchange is well-suited for sophisticated traders, with margin trading and loan options available. Unfortunately, this platform does not accept consumers from the United States. Bitfinex accepts EUR, JPY, GBP, and USD as fiat currency deposits. Deposits in fiat currency may only be done by wire transfer. Tether, a quasi-fiat coin that is informally tethered to the price of the US dollar, is also supported by Bitfinex.
Bitfinex Exchange
Bitfinex has the world's most liquid order book. Traders value high volume because it assures a low spread, or the gap between the best bid and ask prices. Bitfinex has a sophisticated, customizable user interface, over 50 trading pairs (for example, BTC/LTC), and a variety of order types, including limit, market, stop, stop-limit, trailing stop, fill or kill, and scaled orders. The trading platform user interface on Bitfinex may be customized. Advanced charting capability and API access are also available. These elements combine to make it a popular bitcoin exchange among more experienced traders.
Bitfinex's P2P margin trading platform allows users to borrow and trade with up to 3.3x leverage. Borrowing terms can be set manually by the user or automatically by Bitfinex.
eToro – Best Crypto Copy Trading Platform
The top 27 most popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and others, are available to trade on eToro. Non-crypto assets can also be traded by users outside of the United States. You must deposit a minimum of $50 to register as a U.S.-based trader on eToro, but you will not be required to maintain a minimum amount after that. However, every deal you make must be worth at least $25, or $200 if you wish to replicate another trader.
eToro Exchange
The user-friendly website of eToro offers a variety of features that make it one of the finest crypto exchanges for newcomers. If you're not quite ready to get into the fray yet, you may practice your trades on a virtual account with $100,000 in fake money. Furthermore, eToro's website has a variety of instructional materials. You may also engage with other users via a social media-like dashboard, where you can debate ideas and trade with them. If you truly want to trade like the experts, try eToro's CopyTrader service, which allows you to copy the transactions of high-performing users. eToro offers low trading fees and commissions.
If you're a seasoned investor, on the other hand, you may register as a professional and be paid every time someone duplicates your portfolio. In comparison to other crypto exchanges, eToro makes trading as simple as possible. Traders of all levels will have no issue navigating eToro's straightforward buy-and-sell order placement, and the platform's ProCharts tool will help you make smart crypto purchases with real-time charting and price updates. eToro features a mobile wallet app that you may attach to your account for further protection, in addition to a fully functional trading app. Both applications are free to download to your Apple or Android smartphone.
Robinhood – Best Brokerage Crypto App
If you’re interested in a top-notch mobile app for crypto trading, Robinhood is worth looking into. Robinhood is a bargain broker in the real sense of the term. Robinhood boasts some of the lowest fees in the business, despite its products not being as extensive as some other brokerages.
Robinhood Exchange
Robinhood is quite simple to use. Some have said that it has made complicated trading tactics like options trading too accessible to unskilled consumers. The trimmed-down interface, on the other hand, is really useful if your primary purpose is to dabble in stocks. Robinhood is still one of the few brokers that allows you to trade cryptocurrencies for free, making it a unique offering among stock brokerages. When comparing Robinhood's crypto products to pure-play crypto brokerages, though, the glitter begins to wear off.
In 2023, Robinhood will launch a new service that allows consumers to participate in an IPO, or initial public offering, of a firm. Traditionally, this has been the domain of financial institutions. Overall, Robinhood is an excellent platform for cryptocurrency purchases, with the greatest mobile app available.
Bittrex - Best For Altcoins Trading
In the crypto realm, Bittrex is a bit of an unsung hero. The platform's performance has improved over the last year and a half, with fewer orders failing to execute and higher system uptime. In most crypto pairings, its liquidity is fair, and we are quite certain that the reported volume is real and not influenced by the exchange.
Bittrex Exchange
Bittrex manages to implement its features reliably and effectively for the features that it has. There aren't many features, unfortunately. The asset selection is extensive, which is unexpected given that the exchange ostensibly runs under US standards. There are a lot of assets to trade, but there are only a few marketplaces.
Gemini - Best Crypto Exchange for User-Friendliness
For those looking for a user-friendly cryptocurrency exchange, Gemini is a fantastic option.
Many cryptocurrency exchanges are only available in a few areas, however citizens of all 50 states may use Gemini. For inexperienced crypto investors, Gemini provides a basic interface, while more experienced traders may appreciate its ActiveTrader platforms. Although there are exchanges that provide lower costs for crypto trades, Gemini's security features and insurance against cyber breaches may put people new to bitcoin trading at rest.
Gemini Exchange
Gemini has a lot to offer, but it does it at a somewhat greater cost than other cryptocurrency exchanges. Nonetheless, this is a conversation worth investigating.
What is Cryptocurrency?
Cryptocurrency is a type of online payment that may be used to buy and sell products and services. Many businesses have created their own currencies, known as tokens, that can be exchanged for the goods or services that the business offers. Consider them to be arcade tokens or casino chips. To use the item or service, you'll need to convert actual money for cryptocurrency.
Blockchain is the technology that enables cryptocurrency to function. Blockchain is a decentralized system that handles and records transactions across numerous computers. The security of this technology is part of its attractiveness.
Should I Trade Crypto?
There are many benefits to trading crypto. It’s very accessible, anonymous, and transparent. Buyers can enjoy independence from centralized authorities and enjoy high return potential.
There are also some downsides to trading crypto. Most coins are extremely volatile, there are no government regulations that control crypto (which can also be seen as an advantage), and there can be some security issues when using hot wallets.
We recommend experimenting with crypto investments, but we don’t recommend putting your entire net worth into coins.
How to Start Crypto Trading?
Choose your exchange or broker.
Make an account. This will usually require an identity verification process, so you will likely need to have your driver’s license or passport handy when signing up. We recommend signing up via a mobile application if available, as you may have to provide a photo of your ID or face.
Deposit funds into your account. Most exchanges allow USD deposits. Platforms that provide crypto wallets will usually allow crypto assets to be deposited.
Search for your cryptocurrency of choice.
Make a purchase. Select your source to pay for your crypto. Choose whether to buy by the dollar or by the coin. Verify the purchase and execute.
In most cases, depending on your brokers, your crypto will be purchased immediately and available on your account.
Crypto Exchanges vs. Bitcoin Brokers - What Should I Choose?
An exchange serves as a middleman, facilitating trades in exchange for a fee. There are two well-known uses for cryptocurrency exchanges: Buying cryptocurrencies using fiat money and trading different cryptocurrencies with one another, such as when you wish to trade your Bitcoin for Litecoin.
Different exchanges provide different trading pairings, therefore the trader must always make his or her own selection. Consider an investor who puts USD on an exchange to offer the reader an example. Before he can trade other cryptocurrencies, he can only employ USD-related pairings like USD/BTC or USD/LTC. Using a cryptocurrency exchange is a common way to trade cryptocurrencies, and it's especially beneficial for little sums of money.
A broker, on the other hand, acts as a middleman between traders and the market.
Simply put, a person who uses a broker for trading deposits money (or cryptocurrency) into the broker's account and then gets access to the broker's numerous products. A trader does not have to use his own crypto or fiat money to trade, but he can utilize a different trading pair. The broker will select a counterparty for the transaction and, in some situations, can act as the counterparty and execute the deal.
There are some key differences between exchanges and brokers. A crypto exchange will have a better choice of assets, direct exchange, specialized infrastructure, and liquidity. A crypto broker will offer a variety of assets beyond crypto, better regulation, and advanced platforms.
In the end, your choice between exchanges and brokers should come down to your unique use case and trading style.
Summary
Crypto exchanges and brokers are important to consider for traders who want to enter the crypto market. Our top picks of the best crypto exchanges for 2023 include Coinbase, Binance US, Kraken, Bitfinex, eToro, Robinhood, Bittrex, and Gemini. However, our top pick would have to be Coinbase due to its reputation, low fees, and excellent variety of coins.
FAQs
Why should I trade crypto with a broker?
Most crypto investors still trade directly with exchanges, which might make the answer to this question complicated. However, you should consider a broker when it comes to user experience. The majority of bitcoin exchanges were not designed with ease of use in mind. As a result, they have clumsy interfaces, limited compatibility for third-party systems, and restricted customer service choices.
If you've ever tried to contact one of the larger exchanges with an issue that required immediate attention, you've probably just gotten boilerplate email answers that seemed like you were communicating with a cheap chat robot. A reputable broker should provide excellent customer service, so that if you forget your password and don't receive a text message confirmation (2FA), you won't lose your account totally, as may happen with an exchange.
While the cryptocurrency ecosystem is still evolving, online brokers have years of expertise with trading, establishing platforms, and providing auxiliary services. A broker is the way to go if you're used to trading on the charts, via a mobile app, or if you require all of your EA robots for algo trading. Cyber attacks, exit scams, and FBI takedowns have all been reported on cryptocurrency exchanges. While anybody may be hacked, having a broker you know and trust provides some responsibility in the event something goes wrong.
Can I engage in foreign exchange trading with crypto?
If your broker allows it, then yes. It all boils down to taking volatility into account. Day traders search for something different from long-term investors, who may simply purchase an asset on an exchange, transfer it to a safe wallet, and store it. Volatility provides several minor trading chances, which they attempt to exploit by risking long-term holding. As a result, short-term and algorithmic forex traders are drawn to crypto assets.
The largest fiat currency pairs have thousands of times less volatility than cryptocurrencies, thus they can't compete with the thrill of trading cryptocurrencies.
What should I consider before choosing a crypto trading platform or broker?
It's critical to distinguish between the services provided by cryptocurrency brokers and those provided by cryptocurrency exchanges. The location of your trading funds is determined by a number of criteria, including:
- Types of cryptocurrency coins that are available: Whether the cryptocurrency you want to trade is available through a broker or an exchange.
- Trade Term: The length of time you intend to hold the position or cryptocurrency.
- Ability to own crypto tangibly: Whether you wish to own the currency or simply speculate on its price fluctuation.
- Availability: Whether or not a broker or an exchange is available in your home country.
How can I avoid crypto scams?
Certain sorts of scams are easier to recognize as cryptocurrencies become older, but traders should always be wary. Many attempts to defraud traders may appear to be legitimate services. Fake websites, social networking platforms, phishing emails, and unregulated exchanges are the most typical bitcoin frauds.
Team that worked on the article
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.