Best 6 Crypto Exchanges
Discover our top 6 cryptocurrency exchange picks for 2021 and find out what factors you should be considering when choosing your own.

Best overall exchange – Binance

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Binance is the world’s most popular cryptocurrency exchange. Its success means that the platform is able to provide a vast range of features at market leading rates. Unrestricted by regulations, the exchange hosts a wide range of cryptocurrencies and extensive “on ramp” opportunities for those looking to purchase their first digital asset.

While the range of features can feel overwhelming, the extensive cryptocurrency listing and low fees make the exchange a suitable option for every type of cryptocurrency investor. Now boasting decentralized finance (DeFi) functionality through 2 native blockchains, Binance is certainly the best overall exchange currently on the market.

Pros
The platform offers a wide range of options to purchase cryptocurrencies and a wide selection of cryptocurrency pairings for exchange.
The trading fees are some of the lowest on the market.
The native BNB token provides considerable user discounts.
The platform offers access to decentralized finance (DeFi) products.

Cons
With so many features it can be overwhelming for beginners.
For such a market-leading platform, the customer support options are limited.
A user must leave cryptocurrency assets on the exchange to fully utilize all features.
Access to certain features can vary based on location.

Best exchange for altcoins – KuCoin

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Since launching in 2017, KuCoin has experienced tremendous success and is now a market-leading cryptocurrency exchange that offers access to over 200 different cryptocurrencies. This makes the exchange ideal for those looking to invest in altcoins.

While not offering the same amount of features as other exchanges, KuCoin is continually advancing and now offers derivatives trading, instant purchases and staking options. Users can lower fees on the platform by holding the native cryptocurrency, KCS.

Pros
The exchange hosts an extensive list of altcoins that are not as widely available on other platforms.
There are no KYC checks required when using the platform.
The platform offers the highest liquidity for many of the lower market cap altcoins.
Cons
There are no crypto-to-fiat pairings currently available on the exchange.
Limited purchase methods means that the exchange may not be best suited for those first entering the market.
The advanced trading platform is not very user-friendly.

Best exchange for low fees – Robinhood

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Robinhood was designed to be a low fee trading platform with a strong focus on opening the world of financial trading to retail consumers. After launching in 2015, the user base for Robinhood has grown exponentially, which proves that the team’s intuitive design efforts were well placed.

While not a dedicated cryptocurrency exchange, cryptocurrencies can be traded on the platform 24/7. This can be completed with zero commission payments and no minimum deposit. Alongside cryptocurrencies, users have the ability to trade stocks, ETFs and options.

Pros
There are no trading fees incurred on cryptocurrency trades.
The intuitive design makes the process of trading less intimidating.
There is no minimum amount required to open an account.
Cons
The amount of cryptocurrency pairings is limited in comparison to dedicated cryptocurrency exchanges.
A market spread is paid on all trades, which is not always obvious when using the platform.
Users must keep cryptocurrency holdings within the Robinhood platform. Cryptocurrency cannot be transferred out to be used within a different application.

Best exchange for beginners – Coinbase

From day one, Coinbase has focused on becoming the go-to exchange for those first venturing into the cryptocurrency market. Throughout the cryptocurrency community, the exchange is known for its exceptionally user-friendly interface, which makes buying cryptocurrencies a breeze.

The platform provides users a comfortable place to make their first cryptocurrency investment and also helps users to develop their cryptocurrency knowledge base through Coinbase Earn. An advanced trading platform called Coinbase Pro can be accessed within the same account.

Pros
The simplicity of the Coinbase interface is second to none.
The exchange hosts the second-largest volume of any exchange globally, which means liquidity is high on most cryptocurrency pairs.
One account provides access to the more advanced Coinbase Pro.
The exchange has been around since 2012, and is a tried and tested option.
Cons
The platform implements high transaction fees when compared with other dedicated cryptocurrency exchanges.
Due to US regulations, the exchange cannot list the same breadth of cryptocurrencies as competitors.
Access to the exchange can be restricted from certain locations.

Best exchange for trading – FTX

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FTX is a leading cryptocurrency derivatives exchange, which makes it ideal for those looking to trade cryptocurrencies within a short term timeframe. While traders are able to trade spot prices, the exchange allows traders to potentially maximize returns through cryptocurrency futures and leveraged tokens.

Alongside the extensive list of cryptocurrency derivatives, the platform provides access to the latest charting software to assist with technical analysis, tokenized stocks and over-the-counter services for larger cryptocurrency purchases. The native FTT cryptocurrency token can be used as collateral against futures positions or to gain access to VIP discounts within the exchange.

Pros
Advanced trading platform with charting software for technical analysis.
The platform offers a wide range of innovative cryptocurrency features.
Fees are extremely competitive, especially with the native FTT token.
All margin payments are settled from a universal stablecoin wallet which can increase speed.
Cons
The advanced platform can be intimidating for those new to cryptocurrency trading.
Access to certain features within the exchange can be restricted from certain locations.

Best exchange for mobile – Gemini

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After launching in 2014, Gemini has worked hard to become one of the most well-regulated cryptocurrency exchanges in the industry. The exchange now holds one of very few “New York Bit Licenses”, which is one of the hardest licenses to obtain globally.

Alongside regulation, the exchange provides a clean user interface across both its web and mobile applications. Every feature from the website can be accessed via mobile, which means cryptocurrency purchases can be completed efficiently on the go. Dynamic price alerts also ensure that any chance to capitalize on market volatility is not missed.

Pros
Gemini is one of the most well-regulated exchanges within the cryptocurrency industry.
The popularity of the exchange means the majority of cryptocurrency pairs have a high trading volume.
Gemini’s mobile application allows users to purchase and trade cryptocurrencies on the move.
Cons
Tight US regulations mean that cryptocurrency listings are not as extensive as competitors.
Users of the mobile application are charged both a commission fee and a convenience fee.
Users can not purchase cryptocurrencies with a debit or credit card.

Disclaimer: This information is not financial advice or an endorsement of cryptocurrency or any specific provider, service or offering. Cryptocurrencies are highly volatile and high risk. Do your own research and seek financial advice before buying. Please check with providers if their services are available in your state.

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