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8 Best Crypto Exchanges and Platforms of June 2021

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Cryptocurrency trading has exploded in popularity, largely due to the rise (and twists and turns) in value of bitcoin, ether, dogecoin and more. And while it can be intimidating at first, and although scams have occurred and continue to happen, today's best crypto exchanges and platforms make buying and selling crypto simpler and clearer than it has been before.

There are several ways and places to invest in cryptocurrency. Our list considers crypto exchanges and online brokers that offer crypto, as well as cash and payment apps that let you buy and sell bitcoin. Even those familiar with more traditional investing platforms should be mindful that crypto often comes with different fee structures, narrower customer service options and an increased role for the investor in security.

Summary of Best Crypto Exchanges and Platforms of June 2021

Our pick for

Crypto exchanges

These are largely or entirely dedicated to the buying and selling of cryptocurrencies.

Gemini
Learn more

on Gemini's website

Gemini

5.0

NerdWallet rating 
Gemini

Fees

0.5% - 3.99%

depending on payment method and platform

Account Minimum

$0

Promotion

$20 of BTC

for new users after trading $100 or more within 30 days

Learn more

on Gemini's website


Promotion

$20 of BTC

for new users after trading $100 or more within 30 days

Why we like it

For casual investors, Gemini offers a trading platform that’s easy for beginners, but a confusing fee structure that’s higher than some cryptocurrency exchanges.

Pros

  • More than 30 cryptocurrencies.

  • Site insurance of digital assets against exchange hacks.

  • Available in all U.S. states.

Cons

  • Higher fees than some other crypto exchanges.

Read Full Review

Our picks for

Online brokers

SoFi Active Investing Crypto
Learn more

on SoFi Invest's website

SoFi Active Investing Crypto

3.5

NerdWallet rating 
SoFi Active Investing Crypto

Fees

1.25%

per trade

Account Minimum

$10

Promotion

None

no promotion available

Learn more

on SoFi Invest's website


Promotion

None

no promotion available

Why we like it

SoFi offers low fees and some 20 cryptocurrencies, but no crypto-to-crypto trades nor the ability to transfer crypto assets off their platform.

Pros

  • Low fee structure.

  • Selection of 20 cryptocurrencies.

  • Convenient if you already have a SoFi brokerage account.

Cons

  • No crypto-to-crypto trading.

  • Can’t deposit or withdraw crypto to a personal crypto wallet.

Read Full Review
Webull Crypto
Learn more

on Webull's website

Webull Crypto

3.5

NerdWallet rating 
Webull Crypto

Fees

$0

per trade

Account Minimum

$1

Promotion

None

no promotion available at this time

Learn more

on Webull's website


Promotion

None

no promotion available at this time

Why we like it

Webull charges no fees for cryptocurrency trades beyond a 1% spread for each trade, but has relatively fewer cryptocurrencies on offer.

Pros

  • No fees for crypto trades.

  • Convenient if you already have a Webull brokerage account.

Cons

  • Comparatively fewer cryptocurrencies offered.

  • No crypto-to-crypto trading.

  • Can't deposit or withdraw crypto to a personal crypto wallet.

Read Full Review
Robinhood Crypto
Learn more

on Robinhood's website

Robinhood Crypto

3.0

NerdWallet rating 
Robinhood Crypto

Fees

$0

per trade

Account Minimum

$0

Promotion

None

no promotion available at this time

Learn more

on Robinhood's website


Promotion

None

no promotion available at this time

Why we like it

Robinhood brings its no-fee ethos to cryptocurrency trading, but currently offers few cryptocurrencies and no way to transfer crypto assets off the platform.

Pros

  • No fees for crypto trades.

  • Convenient if you already have a Robinhood brokerage account.

Cons

  • Comparatively fewer cryptocurrencies offered.

  • No crypto-to-crypto trading.

  • Can’t deposit or withdraw crypto to a personal crypto wallet.

Read Full Review
TradeStation Crypto
Learn more

on TradeStation's website

TradeStation Crypto

4.0

NerdWallet rating 
TradeStation Crypto

Fees

0.30%

or lower for larger balances

Account Minimum

$0

Promotion

None

no promotion available at this time

Learn more

on TradeStation's website


Promotion

None

no promotion available at this time

Why we like it

TradeStation Crypto charges 0.3% or lower on crypto trades, and unlike many other brokerages enables users to transfer crypto to a personal wallet.

Pros

  • Lower fees compared to most cryptocurrency exchanges.

  • Allows transfer of cryptocurrency assets to a personal crypto wallet.

  • Convenient if you already have a TradeStation brokerage account.

Cons

  • Comparatively fewer cryptocurrencies offered.

Read Full Review

Want to compare more options? Here are our other top picks:

Also worth noting...

Cash and payment apps

A number of cash and peer-to-peer payment apps now allow users to buy and sell bitcoin. On balance, these apps are more limited in what they offer than the exchanges and brokers above.

CashApp

CashApp, a peer-to-peer money transfer system run by Square, allows users to purchase and sell bitcoin. Unlike other cash apps noted here, Cash App allows users to transfer their bitcoin to their own cryptocurrency wallet. Cash App charges a fee depending on price volatility and market trading volume, which it reveals at the time of purchase.

Cash App limits Bitcoin withdrawals up to $2,000 a day or $5,000 within any seven-day period.

PayPal

PayPal allows users to purchase and sell bitcoin, but must be stored on PayPal’s site: Users can’t transfer crypto to their own digital wallet. Fees include an estimated 0.5% trading fee (this may vary depending on market conditions) and a tiered transaction fee depending on the amount of crypto purchased, ranging from 2.3% for amounts between $25 and $100, and 1.5% for purchasing or selling more than $1,000 of bitcoin. Purchases below $25 are charged 0.5%. Users can purchase up to $20,000 a week, but no more than $50,000 during any one-year period.

PayPal allows purchases to be made with bitcoin where available, but you will need to pay taxes on the sale of bitcoin on top of any taxes related to the purchase of the goods or service.

Venmo

Venmo is the latest cash app to introduce cryptocurrency sales and purchase, but unlike other providers gives a choice of four coins: bitcoin, ether, bitcoin cash and litecoin. Venmo’s fee structure mirrors PayPal: estimated 0.5% trading cost, plus tiered transaction fees of 2.3% for crypto trades of $25 to $100, lowering to 1.5% for trades more than $1,000 (0.5% charged on crypto purchases below $25).

Limits are $20,000 a week, and no more than $50,000 in a 12-month period.

How is investing in crypto different from traditional investment in stocks, bonds and funds?

Trading cryptocurrencies is different from traditional investing in several ways:

  • Compared to traditional investing, which has seen fees steadily decline in recent years, trading in cryptocurrencies costs much more. For example, depending on the method of payment you could pay 5% or more in fees when trading bitcoin. Purchasing investments through a robo-advisor, however, can cost as little as 0.25%, keeping more of your cash invested.

  • Crypto is a new and burgeoning industry, and customer service has lagged behind what's available at traditional brokerages. Want to speak to a person concerning questions or account issues at crypto exchange? No pure crypto exchanges we review provide that service.

  • You have more responsibility for protecting your crypto from theft with cryptocurrency exchanges, especially if you use your own digital wallet. While exchanges protect you from losses due to sitewide hacks, you won’t be protected from individual attacks on your account — for example, a phishing email attack in which you unwittingly reveal your passwords to cybercriminals.

Disclosure: The author held no positions in the aforementioned securities at the time of publication.

Last updated on June 2, 2021

Methodology

NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. cryptocurrency exchanges , along with emerging industry players, using a multifaceted and iterative approach. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs.

DATA COLLECTION AND REVIEW PROCESS

We collect data directly from providers, and conduct first-hand testing and observation through provider demonstrations. The final output produces star ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

RATING FACTORS

Evaluations vary by provider type, but in each case are based upon the weighted averages of factors that include but are not limited to: trading and transaction fees, crypto withdrawal fees, cryptocurrency selection, crypto-to-crypto trade offerings and whether consumers can use their own cryptocurrency wallets. We also score providers based on website transparency regarding fees and offerings, their mobile platforms and customer support.

FACTOR WEIGHTINGS

The weighting of each factor is based on our team’s assessment of which features are the most important to consumers and which ones impact the consumer experience in the most meaningful way. The factors considered, and how those factors are weighted, change depending upon the category of providers reviewed.

INFORMATION UPDATES

Writers and editors conduct our reviews on an annual basis but continually make updates throughout the year. We maintain frequent contact with providers and highlight any changes in offerings.

THE REVIEW TEAM

The review team comprises seasoned writers, researchers and editors who cover stocks, bonds, mutual funds, index funds, exchange-traded funds, alternative investments, socially responsible investing, financial advisors, retirement and investment strategy on a daily basis. In addition to NerdWallet, the work of our team members has been published in The New York Times, The Washington Post, Forbes, USA Today, Bloomberg News, Nasdaq, MSN, MarketWatch, Yahoo! Finance and other national and regional media outlets.

The combined expertise of our Investing team is infused into our review process to ensure thoughtful evaluations of provider products and services from the customer perspective. Our writers and editors combine to have more than 70 years of deep experience in finance, ranging from a former Wall Street Journal reporter to a former senior financial advisor at Merrill Lynch.

CONFLICTS OF INTEREST

While NerdWallet does have partnerships with many of the reviewed providers, we manage potential conflicts of interest by maintaining a wall between our content and business operations. This wall is designed to prevent our writers and the review process from being influenced or impacted by our business partnerships. This way, all reviews can provide an unbiased review that serves the interests of our users. For more information, see NerdWallet’s editorial guidelines.

To recap our selections...

NerdWallet's Best Crypto Exchanges and Platforms of June 2021