![]() You might be perfectly OK using a crypto exchange with only one coin if it’s the only coin you want. These often vary by coin type.Īlso consider the cryptocurrencies available on a given exchange. But you’ll also need to look out for withdrawal fees when you move crypto off of an exchange. You can further minimise your risk by spreading your crypto purchases across multiple exchanges or moving your crypto off of an exchange’s default wallet to your own secure “cold” wallet that is not connected to the internet (and therefore much harder to hack), though you’ll need to keep up with your passcode or you could lose access to your crypto forever. That’s why it’s important, to minimise your risk, you only invest your money on reputable exchanges. While exchanges often reimburse those whose coins are stolen through their insurance, you probably don’t want to be in that position to begin with. As crypto has grown more popular and desirable, it’s become an increasingly large target for hackers, and many leading exchanges, including Binance’s international operation and KuCoin, have been hacked recently to the tune of tens of millions. Picking the best crypto exchange can be a complicated process.įirst and foremost, you’ll want a secure exchange. These variables benchmark features and options across the crypto exchanges and brokerages we surveyed.įor each ranking, the sum of weighted values across all or some of these key factors was calculated to award each brokerage or exchange its overall rank. Crypto Lending. Some crypto exchanges allow users to lend out their cryptocurrency.Staking and Rewards. Some platforms allow users to stake selected cryptos and earn interest payments.Security and Storage. Types of storage options, security and insurance available, plus an assessment of any large-scale hacks of each exchange over its lifetime.Educational Resources. We evaluated the educational content offered by each platform.Customer Service. Available types of customer support.Margin Trading. An assessment of margin trading rates, if applicable.Advanced Trading Features. We looked at the availability of complex trading features like advanced order types and volume discounts for frequent trading.Basic Trading Features. Key metrics included the number of cryptocurrencies available to trade, the number of fiat currencies accepted, the exchange’s overall liquidity and trading fees.The data addressed the following key variables to assess the quality of each platform: The trading fees reflected for each brokerage or crypto exchange are the trading fees for the lowest volume of trade, using the most basic version of the platform. ![]() ![]() We performed an in-depth assessment of the features and options offered by nearly 25 cryptocurrency exchanges, crypto trading apps and brokerage platforms that offer crypto trading options. While we work hard to provide accurate and up to date information that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor. These “affiliate links” may generate income for our site when you click on them. Second, we also include links to advertisers’ offers in some of our articles. This site does not include all companies or products available within the market. The payments we receive for those placements affects how and where advertisers’ offers appear on the site. This comes from two main sources.įirst, we provide paid placements to advertisers to present their offers. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive payment from the companies that advertise on the Forbes Advisor site. The Forbes Advisor editorial team is independent and objective.
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