BEST OF

10 Best Crypto Exchanges and Platforms of February 2022

Jan 3, 2022

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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.

Best Crypto Exchanges and Platforms

Our picks for

Crypto exchanges

Coinbase
Learn more

on Coinbase's website

Coinbase

5.0

NerdWallet rating 
Coinbase

Fees

0.5% - 4.5%

varies by type of transaction; other fees may apply

Account Minimum

$2

Promotion

Earn $5

in bitcoin for getting started on Coinbase

Learn more

on Coinbase's website


Promotion

Earn $5

in bitcoin for getting started on Coinbase

Why we like it

Coinbase is the largest U.S.-based cryptocurrency exchange, trading more than 30 cryptocurrencies. Its fees, however, can be confusing and higher than some competitors. While Coinbase offers attractive security features, cryptocurrency trading is highly volatile: Always consider the risks.

Pros

  • Offers access to nearly 100 cryptocurrencies.

  • Low minimum to fund account.

  • Cryptocurrency is insured in event website is hacked.

Cons

  • Higher fees than other cryptocurrency exchanges.

Read Full Review
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 50 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

BlockFi

4.5

NerdWallet rating 
BlockFi

Fees

$0

spread of about 1%

Account Minimum

$0

Promotion

None

no promotion available at this time


Promotion

None

no promotion available at this time

Pros

  • Ability to earn interest on bitcoin.

  • One free withdrawal each month.

Cons

  • Services are limited in several states.

  • Website is not easy to navigate.

Read Full Review

Crypto.com

4.5

NerdWallet rating 
Crypto.com

Fees

0%-2.99%

Varies by type of transaction; other fees may apply

Account Minimum

$0

Promotion

None

no promotion available at this time


Promotion

None

no promotion available at this time

Pros

  • Large selection of crypto assets.

  • Fees are low if you fund your account with cash transfers.

Cons

  • Fees for credit and debit purchases are relatively high.

  • Some services not offered in the U.S.

  • No crypto-to-crypto trading.

Read Full Review

eToro

4.0

NerdWallet rating 
eToro

Fees

0.75% to 2.9%

varies by cryptocurrency

Account Minimum

$10

Promotion

None

no promotion available at this time


Promotion

None

no promotion available at this time

Why we like it

eToro allows users to begin trading cryptocurrency for as little as $50, and its innovative trading platform lets investors mirror select traders with successful track records move-by-move. But consider the risks inherent in trading these highly speculative assets.

Pros

  • Offers access to 17 cryptocurrencies.

  • Low minimum to fund an account and begin investing.

  • Social trading: Ability to match moves of popular traders.

Cons

  • Service only available in 44 U.S. states.

  • While eToro has forex and equity trading available in other countries, U.S. eToro customers are limited to crypto trades.

Read Full Review

Binance.US

4.5

NerdWallet rating 
Binance.US

Fees

0.1%-5%

depending on payment method

Account Minimum

$10

Promotion

None

no promotion available at this time


Promotion

None

no promotion available at this time

Why we like it

The U.S. arm of the world’s largest cryptocurrency exchange by trading volume, Binance.US offers trading of more than 50 cryptocurrencies.

Pros

  • More than 50 cryptocurrencies available.

  • Low trading fees.

Cons

  • Not available in seven U.S. states.

  • Fewer crypto-to-crypto currency pairs than global Binance site.

Read Full Review

Kraken

5.0

NerdWallet rating 
Kraken

Fees

0.9%-2%

varies by type of transaction; other fees may apply

Account Minimum

$0

Promotion

None

no promotion available at this time


Promotion

None

no promotion available at this time

Pros

  • Large selection of digital assets.

  • Low fees for advanced traders.

Cons

  • Limited options for funding accounts.

  • Not available in all U.S. states.

Read Full Review

Our picks for

Online brokers

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

Robinhood Crypto
Learn more

on Robinhood's website

Robinhood Crypto

3.5

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

4.5

NerdWallet rating 
TradeStation Crypto

Fees

0.30%

or lower for larger balances

Account Minimum

$0

Promotion

Get $10 in crypto

on all newly approved accounts.

Learn more

on TradeStation's website


Promotion

Get $10 in crypto

on all newly approved accounts.

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
Webull Crypto
Learn more

on Webull's website

Webull Crypto

3.5

NerdWallet rating 
Webull Crypto

Fees

$0

per trade

Account Minimum

$1

Promotion

$5 of SHIB

after opening a Webull account, activating crypto trading, and completing 1 crypto trade before 12/28/21.

Learn more

on Webull's website


Promotion

$5 of SHIB

after opening a Webull account, activating crypto trading, and completing 1 crypto trade before 12/28/21.

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

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 January 3, 2022

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5.0

NerdWallet rating 
Marcus by Goldman Sachs Online Savings Account

APY

0.50%

With $0 minimum balance

Bonus

$100

Requirements to qualify

at Marcus by Goldman Sachs, Member FDIC

One Save

5.0

NerdWallet rating 
One Save

APY

1.00%

With $0 minimum balance

at One, Deposits are FDIC Insured

Chime High Yield Savings

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NerdWallet rating 
Chime High Yield Savings

APY

0.50%

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at Chime, Deposits are FDIC Insured

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). Ratings are rounded to the nearest half-star.

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 Platforms of February 2022