Best crypto exchanges and apps of October 2023
Updated 12:12 p.m.ET Oct.6, 2023
Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site.This commission does not influence our editors’ opinions or evaluations.
Please view our full
advertiser disclosure policy.
Crypto exchanges offer a simple but oh-so-vital function: allowing customers to buy, sell and trade coins.Exchanges are normally the first port of call when somebody wants to convert money into
cryptocurrency and enter the blockchain-domiciled realm.
If you’re trading cryptocurrency, you’ll also need to remember that the industry is new, with regulations still taking shape.
“You should be aware of all the risks associated with investing in cryptocurrencies and seek advice from a financial advisor,” says Fraser Matthews, president of Canadian crypto-trading platform Netcoins.
Our rankings serve as general guidance on trading platforms and reflect features offered by exchanges and parameters, such as education and consumer service.
For our best cryptocurrency exchange and app rankings, we looked at safety and security among more than 40 leading crypto exchanges and apps.We also assessed features offered, trading fees, withdrawal fees and ease of use, among other factors.
–
–
[Coinbase Exchange](#coinbase-exchange)
: Best for transparency
–
[Kraken](#kraken)
: Best for the number of cryptocurrencies
–
[Crypto.com Exchange](#cryptocom-exchange)
: Best for crypto credit card products
–
[Gemini](#gemini)
: Best for availability in all 50 states
–
[Binance.US](#binanceus)
: Best for low fees
–
–
–
–
–
Best crypto exchanges and apps
Learn More
Compare the best crypto exchanges and apps
|Company||Coins||Staking coins||Available in all U.S.states|
|Coinbase||200+||6||✘|
|Kraken||220+||0||✘|
|Crypto.com Exchange||280+||1||✘|
|Gemini||80+||2||✔|
|Binance.US||150+||16||✘|
Methodology
We have reviewed and researched some of the largest cryptocurrency exchanges to rank the best ones available on the market today.
Out of all the exchanges considered, the seven that made our list excelled in areas across the following categories (with weightings): coins offered and fiat currency accepted (15%), headline fees, measured at the upper end of the taker fee for low-volume users (15%), other trading features (5%), availability across states (10%), customer service (10%), education (10%), security (20%), storage (10%), and staking (5%).
Within each major category, we considered several subcategories, combining them to give an overall score for that category, which we then weighted to calculate an overall ranking of the exchanges.
This approach is a generalized “best of” ranking system, from the number of coins offered and trading fees to the availability of features such as staking or advanced trading options.
For security reasons, it is important to measure that this score was on a relative basis.
Editor’s note: It should also be said that crypto exchanges as an industry are extremely risky.
A lot of information is concealed from the public eye, making it very difficult to make a confident assessment of the financial security of a company.
Why other crypto exchanges and trading apps didn’t make the cut
There are countless other crypto exchanges and trading apps on the market.Exchanges that haven’t been established long or lack the necessary size were not considered.
When even massive exchanges like FTX are capable of going under, it is hard to assess smaller exchanges with any degree of confidence.
While many may be excellent companies, unfortunately, it is a case of being tarnished by bad actors.The lack of transparency and public disclosures and the enormous risk in the industry led to us focusing on only bigger exchanges.
Final verdict
There is an ever-growing number of crypto exchanges out there.Each offers pros and cons that suit certain users over others.
There are not many reasons to recommend exchanges beyond the biggest ones.Crypto remains an extremely opaque and risky industry, largely existing outside the regulatory framework.
Many exchanges have gone under in the past, a pattern that’s unlikely to change going forward.
While bigger exchanges are far from immune to becoming insolvent, they are certainly less likely than smaller exchanges.Larger exchanges, such as Binance.US and Kraken, also tend to offer more features, with greater customer support and competitive fees.
Our top pick, Coinbase, has the immense strength of transparency behind it as a publicly listed company in the U.S.
No other major exchange offers this element.
While the vast majority of crypto exchanges may (and hopefully do) operate above board, the reality is that there is no way to know.Proof-of-reserve reports have helped somewhat for transparency, but they are far from proper audits, and crucial information such as liabilities is often omitted, making them largely redundant.
The exception is Coinbase, which is publicly listed.
For that reason, Coinbase is required to make public disclosures that private exchanges aren’t required to make.
Tip: If you don’t store your assets on an exchange and use them only to transact before withdrawing assets, that behavior should reduce your risks.
Trading crypto is different from trading stocks because the regulation rules are different.Cryptocurrency is a relatively new industry, and legislation must still be built up.
That means trade can be more difficult, depending on your jurisdiction.
Cryptocurrency is still an experimental area where gambling is a more apt word than investment.While
trading stocks is extremely risky in its own right, trading cryptocurrency is even more risk-on.
Blueprint is an independent publisher and comparison service, not an investment advisor.
The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions.Past performance is not indicative of future results.
Blueprint has an
advertiser disclosure policy.The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone.Blueprint adheres to strict editorial integrity standards.
The information is accurate as of the publish date, but always check the provider’s website for the most current information..
