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11 Best Crypto Exchanges and Apps of February 2023

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Choosing a cryptocurrency exchange is often the first step investors take when exploring the word of digital assets. While there are many ways to exchange cryptocurrencies for one another, centralized exchanges provide a relatively easy way to convert cash into coins and tokens.

There are many exchanges to choose from — some with a longer track record than others. When comparing exchanges, investors can look at fees, cryptocurrency selection, advanced trading options and customer service offerings. But it's also important to keep in mind some caveats.

Though some stock brokers also offer crypto exchanges, crypto trading is not subject to the same investor protections you get when working with traditional investments. U.S. Securities Investor Protection Corp. insurance doesn't apply to cryptocurrency, so if your exchange fails (as FTX did in the fall of 2022), you could lose your investment. For this reason, some users prefer not to store assets on exchanges unless they're actively trading. You can use your own crypto wallet in many cases to store, trade and carry out transactions using cryptocurrency.

There are several ways and places to invest in cryptocurrency. Our list considers crypto exchanges, platforms and online brokers that offer crypto, as well as cash and payment apps that let you buy and sell Bitcoin, Ethereum and other digital assets.

Best Crypto Exchanges and Apps

Our pick for

online brokers

Several brokers offer cryptocurrency trading in addition to stocks, funds and other asset classes.

NerdWallet rating 

3.6

/5
Robinhood Crypto
Learn more

on Robinhood's website

Fees

$0

per trade

Account minimum

$0

Promotion

None

no promotion available at this time

NerdWallet rating 

3.9

/5
Webull Crypto
Learn more

on Webull's website

Fees

$0

per trade

Account minimum

$0

Promotion

Get $5 in Crypto

after opening a Webull account, activating crypto trading, and completing one [1] crypto trade before 1/31/2023.

NerdWallet rating 

3.4

/5
TradeStation Crypto
Learn more

on TradeStation's website

Fees

0.30%

or lower for larger balances

Account minimum

$0

Promotion

Get $150 in Bitcoin

when you purchase or deposit $500 in Crypto. Offer Code: NERDAGCT.

NerdWallet rating 

3.3

/5
SoFi Active Investing Crypto
Learn more

on SoFi Invest's website

Fees

1.25%

per trade

Account minimum

$10

Promotion

Get up to $100 in crypto

with a qualifying first trade

Our pick for

crypto exchanges

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

NerdWallet rating 

4.2

/5
Gemini
Learn more

on Gemini's website

Fees

0.5% - 3.49%

depending on payment method and platform

Account minimum

$0

Promotion

$20 of BTC

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

NerdWallet rating 

3.5

/5
eToro
Learn more

on eToro's website

Fees

1%

for cryptocurrency

Account minimum

$0

Promotion

Get a $10 bonus

when you buy $100 worth of crypto (U.S. only).

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

Buying crypto within 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.

PayPal

PayPal allows users to purchase and sell Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Fees include an estimated 0.5% trading fee (this may vary depending on market conditions) and a tiered transaction fee that amounts to $2.49 for $200 in Bitcoin.

PayPal allows purchases to be made with crypto 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 also offers Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Venmo, which is owned by the same company as PayPal, has a similar fee structure: estimated 0.5% trading cost, with a fee structure that amounts to $2.49 on a $200 purchase.

Last updated on January 3, 2023

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People often identify opening a savings account as their next money move.

SoFi Checking and Savings

5.0

NerdWallet rating 
SoFi Checking and Savings

APY

3.75%

With $0 min. balance for APY

Bonus

$250

Earn up to $250 with direct deposit. Terms apply.

at SoFi, Member FDIC

Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

3.30%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

at Discover Bank, Member FDIC

LendingClub High-Yield Savings

4.5

NerdWallet rating 
LendingClub High-Yield Savings

APY

4.00%

With $0 min. balance for APY

at LendingClub Bank, Member FDIC

Methodology

How do we review cryptocurrency platforms?

NerdWallet’s comprehensive review process evaluates and ranks platforms and companies that allow U.S. customers to buy and/or sell cryptocurrency. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).

For more details about the categories considered when rating brokers and our process, read our full methodology.

To recap our selections...

NerdWallet's Best Crypto Exchanges and Apps of February 2023

Frequently asked questions