Best Crypto Exchanges, Platforms & Apps for 2025

Common questions about cryptocurrency exchanges

What is a crypto exchange?

A crypto exchange is, very basically, a place where you can purchase a cryptocurrency using cash or another digital asset.

This roundup primarily discusses a type of crypto exchange known as a centralized exchange. A centralized exchange is a marketplace operated by a business entity that buys, sells and facilitates transactions in cryptocurrency.

If you're new to cryptocurrency or just need to convert fiat currency into crypto, you'll likely use a centralized exchange.

Another way to get crypto is through what is known as a decentralized exchange. These are largely automated, blockchain-based programs that allow users to swap certain kinds of cryptocurrency for one another. While these can have lower transaction costs, they also require more technical expertise. And if you don't already have cryptocurrency, your options are limited.

How do I choose the right crypto exchange?

One of the biggest factors in picking a crypto exchange is the type of cryptocurrency you plan to invest in, and how far from the mainstream you want to stray. Bitcoin and a handful of the biggest altcoins like Ethereum are nearly universally available, and may be the only cryptocurrencies on the menu at online brokers. If you're interested in these and merely want to dabble in crypto, an online broker may be a good fit — one added benefit is you can keep your cryptocurrency and other investments within one platform.

But if you are eyeing a niche coin, you’ll want to double-check its availability on any exchange you're considering. Pure-play crypto exchanges will offer the widest variety of cryptocurrencies and cryptocurrency pairs.

Then consider where you want to store your crypto once you've purchased it: Storage options vary from exchange to exchange, and the presence or absence of your preferred storage method could be a reason to choose one service over another.

Generally, you can store crypto with the exchange where you bought it. Most — though not all — exchanges also let you move the digital assets you buy to your own crypto wallet. If that's important to you, be sure to select an exchange that supports it.

Finally, consider other major factors like fees, the trading experience and — if you're new to crypto trading — the level of educational resources provided to help you get started.

What services do crypto exchanges offer?

Aside from their primary role at the center of crypto sales and purchases, exchanges have added a handful of other offerings. Among those are services that pay rewards to people who lend out their crypto. Many crypto exchanges will hold your crypto for you if you don't want to set up a wallet that you control by yourself.

Which crypto exchange offers the largest selection?

The number of coins on offer at crypto exchanges can vary widely. If you're looking to trade a specific cryptocurrency, you'll want to confirm it's available through the platform you're interested in. Generally speaking, if you're looking for anything more than Bitcoin, Litecoin and Ethereum, you should probably consider a pure-play crypto exchange rather than a traditional broker with a crypto offering. This becomes clear when comparing the number of cryptocurrencies available at pure-play crypto platforms and traditional brokers above.

Where can I buy the TRUMP meme coin?

Several of the exchanges above offer the $TRUMP meme token that was launched in January 2025, including Coinbase, Gemini and Robinhood. Keep in mind that while the coin quickly increased in value and market cap immediately following its launch, its price is likely to be highly volatile. This is true of all cryptocurrencies, but especially meme coins, which are driven by news or pop culture trends and are prone to large price explosions or crashes. It's wise to treat meme coins like $TRUMP as highly speculative.

Are crypto exchanges safe?

Crypto trading is not subject to the same investor protections you get when working with traditional investments. For example, U.S. Securities Investor Protection Corp. insurance doesn't apply to cryptocurrency, so if your exchange fails, you could lose your investment.

It's also worth noting that storing crypto in an exchange's wallet can leave you vulnerable to losses if an exchange fails or suffers a cyberattack. For this reason, some users prefer not to store assets on exchanges unless they're actively trading.

How much money do I need to use a crypto exchange?

If you're just thinking about dabbling in crypto, it's good to remember that you don't have to put your life's savings on the line to get a sense of how it works.

Crypto exchanges reviewed by NerdWallet generally have no account minimums, which means you're free to create an account and look around without spending a dime. And if you decide to buy some crypto, you don't have to buy a lot. Many exchanges have a minimum purchase of around a dollar.

How is investing in crypto different from investing in stocks?

Trading cryptocurrencies is different from traditional investing in several ways. A few examples:

• 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. Most online brokers no longer charge a commission to trade stocks.

• Crypto is still a relatively 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 a crypto exchange? Many pure crypto exchanges don't offer 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 site-wide 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.