Best Sites to Buy Cryptocurrency
If you're looking to buy or sell cryptocurrencies, opening an account on a cryptocurrency exchange is a great way to get started. Crypto exchanges operate similarly to online brokerage platforms, providing the tools you need to buy and sell digital currencies and tokens such as Bitcoin, Ethereum, and Dogecoin.
When choosing a cryptocurrency exchange, you should consider factors such as assets supported, fees, payment methods, and security. To help you find the right exchange, we took these factors into account when selecting this list of the best cryptocurrency exchanges.
1. Coinbase
Coinbase is our pick for the best crypto exchange and the best crypto exchange for beginners. It offers a large number of supported cryptocurrencies and a high level of security. In addition to being a beginner-friendly platform, Coinbase also provides an advanced trading platform - Coinbase Pro - making it a good option for professional traders as well.
Originally a San Francisco-based crypto exchange, it is now a geographically decentralized company with no headquarters and available in over 100 countries. It excels in providing a user-friendly trading experience, solid security and a range of advanced features for seasoned traders. Due to the large number of assets supported (over 150) and the easy-to-use platform, Coinbase has become a popular exchange for many first-time buyers of cryptocurrencies. The platform has the look and feel of an online banking app that most people already use, making the transition to investing in cryptocurrencies a breeze.
Coinbase also insures the digital funds it holds on behalf of users and holds US dollar balances in Federal Deposit Insurance Corporation (FDIC) insured bank accounts to prevent loss of user funds in the event of a security breach. Trading accounts can be funded with a wide variety of payment methods including bank transfer and ACH wire transfer.
Moreover, Coinbase also offers cryptocurrency storage options. The first is a fiduciary option for new investors: storing coins on the Coinbase.com exchange. The second is a no deposit wallet (Coinbase Wallet) for experienced cryptocurrency users. By storing its crypto on Coinbase.com, Coinbase keeps private keys and effectively holds funds on behalf of the user. With Coinbase Wallet, the user has full control over their funds as they keep the wallet's private keys.
While Coinbase can be a good exchange for both new and advanced crypto investors, the transaction fees can be relatively high, ranging from 0% to 0.60% depending on the transaction volume. In addition, the feedback from Coinbase users is relatively weak. For example, several Trustpilot users mention problems with customer service. In addition, there are many stories of unexpected account closings that have tarnished the image of the stock market.
2. Crypto.com
We chose Crypto.com as the best mobile cryptocurrency exchange app because it provides an extensive digital asset trading and investing ecosystem that can be easily accessed from your smartphone.
Launched in 2016, Crypto.com has become one of the world's leading cryptocurrency exchanges. It is now available in 90 countries around the world and supports over 250 cryptocurrencies.
In addition to offering a large number of supported assets, Crypto.com provides a vast digital asset ecosystem consisting of its own blockchain, Crypto.org Chain; native token named CRO; cryptographic visa card; profit-generating crypto products; and more.
However, the Crypto.com mobile app stands out the most. While many of the crypto exchange's mobile apps provide a watered-down version of the exchange's online platform, Crypto.com places a lot of emphasis on creating an app that offers a wide variety of products and features so that users can take advantage of this exchange's ecosystem on the go. Mobile app users can buy, sell, trade and earn with their crypto as well as pay with crypto.
While Crypto.com offers an impressive number of products and features, customer support is lacking, according to TrustPilot reports from past and current users leaving poor reviews. Additionally, unless you are trading at higher volumes, you will pay relatively high trading fees, up to 0.40%.
If you are looking for great mobile crypto trading then Crypto.com is probably your best option thanks to its range of products and features as well as the large number of assets supported.
3. Gemini
Introduced in 2014 by Tyler and Cameron Winklevoss, the Gemini has a strong focus on safety and compliance. The New York-based stock exchange has hot wallet insurance to keep user funds safe in the event of a security breach. In addition, it requires users to complete an identity verification process to reduce the risk of fraud.
Gemini also encourages users to use two-factor authentication to secure their accounts and provides the ability to view and approve devices used to log into their trading account. Another standout security feature of Gemini is that it is SOC 2 certified, which means that external auditors have verified the company's security and compliance framework.
Built with advanced traders in mind, Gemini provides a professional trading dashboard and supports over 75 digital currencies and tokens. Gemini also offers a cryptocurrency reward card and allows users to pay for goods and services using cryptocurrencies.
The main Gemini platform and the active trader platform use different fee structures. The basic platform charges fixed amounts for smaller trades and a very high 1.49% for trades over $ 200. The active trader's platform charges maker-taker fees up to 0.4% with a reduction as the volume increases. These are also overpriced. However, paying a relatively high fee can be a small price to pay for very solid Gemini collateral.
Traders and investors who prefer to trade on a highly secure platform will appreciate what Gemini has to offer.
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