The Best Cryptocurrency Exchanges Comprehensive Guide

best cryptocurrency exchanges

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. was also forced to deny that it was in financial difficulty after FTX, a former large crypto player, went bust in November 2022.

However, we may receive compensation when you click on links to products or services offered by our partners. Its interface is more primitive than other exchanges, and we encountered a few minor hiccups — unexplained error messages and missing 2FA codes — during the sign-up process. It’s worth noting that the lower volume of transactions on the bitFlyer exchange may impact your ability to complete trades at the prices you want. Once you’ve verified your identity and funded your account, maker and taker fees on the bitFlyer Lightning Network max out at 0.1% for transactions less than $50,000. That’s even lower than Kraken’s baseline 0.2% fee for makers and 0.5% for takers — and far more affordable than Coinbase Pro’s 0.4% for makers and 0.6% for takers. Funding your Coinbase account with an electronic ACH transfer is free, however.

Most Secure Crypto Exchange

There are around 500 examples to choose from, and Forbes Advisor Canada combed through the leading players to determine the best crypto exchanges for both new and experienced investors. When choosing a cryptocurrency exchange, it’s important to prioritize security features. Look for exchanges that have two-factor authentication, address whitelisting, store the majority of funds in cold storage, have published proof of reserves, and undergo regular security audits. Switching our focus to web-based platforms, while platforms like Binance and KuCoin are feature-packed, I would certainly not consider them beginner-friendly, or even very user-friendly. Aside from trading fees, Binance takes the win as they offer multiple fee-free deposit options and also supports fiat withdrawals. KuCoin relies on third-party payment processors, most of whom charge fees, and does not offer fiat withdrawals.

best cryptocurrency exchanges

It’s important to mention that Public is not a full-service cryptocurrency exchange. The platform focuses on stocks and ETFs first, meaning it lacks certain tools and operates fundamentally different from an actual crypto exchange. Most importantly, users cannot presently transfer crypto assets into or out of their Public account.


Others will require new users to undergo an extensive “Know your Client” (KYC) process to comply with U.S. government regulations meant to prevent money laundering and fraud. According to Chainalysis, a blockchain analysis firm and data platform that has worked directly with the U.S. government, crypto hackers stole $3.8 Billion in 2022. Look for a crypto exchange with robust encryption that provides additional lines of defense, such as two-factor authentication and Bitcoin locks.

  • It also offers a variety of tools for high-performance traders and boasts excellent security practices.
  • The App is extremely popular and has been downloaded by ~10 million users globally on the Google Play Store.
  • Just like when working with different brokers for trading stocks, fees can vary from crypto exchange to crypto exchange.
  • As the industry is highly competitive, many exchanges strive to be low-cost leaders in the space.
  • This makes Coinbase one of the best cryptocurrency exchanges for beginners.
  • Neither SwissBorg nor Kraken have ever been hacked, which is rare in the industry, and made all the more impressive by the fact that Kraken has been around since 2011.