7 Best Crypto Exchanges & Apps of 2023

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I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

If you’re wondering about the best crypto exchanges and apps for 2023, here are the top 7 to get you started, so you can make the best investments this year.

Editors' Choice
Best Security
Best for Beginners
No-commission Trades
5.0
4.5
4.5
4.5
Benefits:
  • Social investing platform
  • $0 commission stock trades
  • Easy-to-use app
  • International trading platform
Benefits:
  • Available in all 50 states
  • Broad selection of cryptocurrencies
  • Easy-to-use mobile app
  • U.S. based exchange
Benefits:
  • Wide selection of crypto offerings
  • Low minimum to fund account
  • Easy-to-use app
  • Quick crypto withdrawals
Benefits:
  • 25+ cryptocurrencies
  • Set recurring investments
  • Assets are held 1:1
  • Multi-asset platform
Editors' Choice
5.0
Benefits:
  • Social investing platform
  • $0 commission stock trades
  • Easy-to-use app
  • International trading platform
Best Security
4.5
Benefits:
  • Available in all 50 states
  • Broad selection of cryptocurrencies
  • Easy-to-use mobile app
  • U.S. based exchange
Best for Beginners
4.5
Benefits:
  • Wide selection of crypto offerings
  • Low minimum to fund account
  • Easy-to-use app
  • Quick crypto withdrawals
No-commission Trades
4.5
Benefits:
  • 25+ cryptocurrencies
  • Set recurring investments
  • Assets are held 1:1
  • Multi-asset platform

Do you ever wonder what the best crypto exchanges are and whether they change year on year? If you do, and you are looking to buy crypto, you have come to the right place.

Despite a recent bear market, cryptocurrencies have maintained a daily trading volume of around $100 million. Many folk believe they could start to rally this year and wonder which crypto exchanges and apps will be the most trustworthy for use in the next market cycle.

Top 7 Best Cryptocurrency Exchanges

  1. eToro – Editors’ choice
  2. Gemini – Best security
  3. Coinbase – Best for beginners
  4. Public – Best for No-commission trades
  5. Crypto.com – Best mobile app
  6. Robinhood – Best for active traders
  7. Bisq – Best decentralized exchange

Methodology

To select the best crypto exchanges and apps for 2023, we looked at criteria such as fees, reliability, ease of use, liquidity, security, customer service, leadership, number of years trading and verified third-party reviews.

Below are our top picks for 2023 and details of how each works.

best crypto exchange badge

eToro – Editors’ Choice

eToro is a social trading platform famed for is its innovations in this area. Specializing in stocks and other paper assets upon its launch in 2007, it has since expanded its offerings to include 71 different types of cryptocurrencies as trading options.

The app includes real-time insights, customized risk management and practice accounts. If you wish to open an account, you will need a minimum deposit of $50; however, if you are a U.S. citizen and you deposit $100 or more, you will receive an extra $10 in funds.

The platform charges a 1% fee per trade and is best for international traders and investors, active traders and beginners.

We included eToro because of its diverse range of features and assets, which we feel pushes it to the top of the list for general crypto traders.

Pros
  • Global platform: eToro operates in over 140 countries worldwide.
  • User-friendly app: eToro offers a user-friendly mobile app with all the same functionality and social trading tools as its online platform.
  • Social trading experience: The act of social trading allows you to monitor what others do with their crypto and keep abreast of market trends.
  • Variety of crypto options: With in excess of 70 options, eToro offers a greater variety of cryptocurrencies than many competing platforms.
Cons
  • Limited customer service: The only way to access customer support with eToro is to request a helpdesk ticket, unlike other platforms that offer email and telephone support.
  • Not available in every U.S. state: eToro is banned in a number of states, which means U.S. citizens must verify whether or not it is permitted in their particular state.
eToro

eToro provides investors, from beginners to experts, with a comprehensive crypto trading experience, on a powerful yet user-friendly platform. Start investing in crypto!

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Gemini – Best Security

Gemini is a cryptocurrency exchange based in New York. With an emphasis on the security and protection of funds, the Winklevoss twins founded the company when the brothers felt they could not trust any existing exchanges with their investments.

If you wish to actively trade with Gemini, you will need a minimum deposit of $0, and fees range between 0.5% and 3.49%. After trading $100, as a new user, you receive $20 in bitcoin (BTC).

Gemini is a cryptocurrency platform for active trading and further offers a crypto rewards card, crypto wallet and US dollar (USD)-backed stablecoin.

The Gemini platform is best suited to U.S. citizens, beginners and active traders. We chose it for these reasons, along with its numerous enhanced security features.

Pros
  • Available in all 50 states: By adhering to New York state regulations, Gemini legitimately operates across the whole of the U.S.
  • Strong security: As one of the few cryptocurrency exchanges to follow the regulations set out by the New York State Department of Financial Services, Gemini has numerous security features in place to protect its customers.
  • Offers a cold storage wallet: Cold storage removes funds from the blockchain, meaning they are much less accessible to hackers.
  • Simple user interface (UI): Gemini’s UI is simple due to a small number of support coins and tokens and its focus on security above all else.
Cons
  • Higher trading fees: Gemini’s fees on trades average at 0.5%, making it costlier than most of its competitors.
  • Limited customer service: Outside of its help center, Gemini offers little in the way of customer services.
Gemini

Gemini is a regulated cryptocurrency exchange, wallet, and custodian that makes it simple and secure to buy bitcoin, ether, and other cryptocurrencies.

We earn a commission if you create an account, at no additional cost to you.

Coinbase – Best for Beginners

Coinbase is another U.S.-based cryptocurrency exchange. Though it does not place the same emphasis on security as Gemini does, it offers a range of resources to help attract customers.

One of these features is Coinbase learn, a section of the company’s website dedicated to educating users on cryptocurrency concepts and specific blockchain features. Coinbase also fuses its Coinbase Pro features into one app, simplifying the withdrawal process.

The minimum deposit required is $0, with fees ranging from 0% to 3.99%, and you can receive up to $200 in crypto when you sign up.

We chose Coinbase because it caters to U.S. citizens, beginners and NFT collectors, which makes it ideal if you are looking to build a varied portfolio. In addition, if you are new to investing, Coinbase offers features to help you learn about crypto.

Pros
  • Access to 170+ cryptos: Coinbase not only offers BTC and Ethereum, but also ERC-20 tokens, Binance, stablecoins, Dogecoin, Litecoin and other altcoins.
  • Easy to use trading platform: Coinbase chooses to disregard charting tools and graphs and opts instead to provide traders with a simplified view of their market maker.
  • Offers a crypto wallet: Coinbase offers a software wallet similar to MetaMask, which is designed to help you, as an investor, safeguard your security keys.
  • Publicly traded exchange: Coinbase was recently listed on the U.S. Stock Market, increasing its visibility and public interest in the company.
Cons
  • Higher trading fees: With higher trading fees and wide spreads, Coinbase tends to charge more than other exchanges.
  • Limited customer service: Coinbase provides a help center and virtual assistant whom you can instant message; however, it offers no other customer service options.
Coinbase

Coinbase is a secure online platform for buying, selling, transferring, and storing cryptocurrency. Get up to $200 for getting started.

We earn a commission if you sign up, at no additional cost to you.

Public – Best for No-commission Trades

Public is an investment platform and brokerage intended to link investors together to discuss investment opportunities in the asset-buying space. While similar to eToro, Public features no-commission trades, which reduces its taker fees and other expenses investors incur.

If you invest with Public, you will not be required to make a minimum deposit, neither will you incur any fees. However, the company does not currently offer promotions.

We chose Public because its site possesses advanced trading features, including alternative assets such as NFTs and artwork, and its social features allow investors to discuss why they trade in cryptocurrency in the manner they do, and what strategies might work in the future.

If you are a beginning or you work with lower dollar accounts, this platform is ideal for you. Public also has a variety of standout features, which make it attractive.

Pros
  • No-commissions trades: If you trade, you will not be charged commission, meaning the fees you incur with Public will be low compared to those of other platforms.
  • Offers fractional shares: Fractional shares allow you to purchase portions of a share for certain types of assets, such as artwork.
  • Easy-to-use mobile app: Public’s mobile app functions well on the majority of devices and its UI is straightforward.
  • Active community of investors: You can connect with other investors — whether new or seasoned — on the platform’s active community boards to discuss ideas.
Cons
  • 1% to 2% crypto markup: Due to Public’s lower fees, it charges more upfront on crypto assets to generate revenue.
  • Not good for active traders: While it is easy to day trade on other exchange platforms, Public does not have the speed or lower fee structure to support this strategy.
Public.com

Build your portfolio with a growing collection of crypto, automate your investing strategy, and manage your assets all in one place. Sign up to Public today!

We earn a commission if you create an account, at no additional cost to you.

Crypto.com – Best Mobile App

Crypto.com may seem new to the crypto market; however, the company has been in existence for a number of years. Lately, it has focused on its mobile app in an effort to place itself among the best cryptocurrency exchanges on the market.

Crypto.com owes part of its success to its reward program, along with its lower transaction fees, and the company established itself as a big name in the 2020 bull run.

If you wish to trade on Crypto.com, you will require no minimum deposit, and the fees range from 0% to 4%. We chose this platform because it is ideal for mobile and active traders.

Crypto.com is best for beginners, active traders and NFT traders.

Pros
  • Wide selection of cryptocurrencies: You can purchase 250-plus cryptocurrencies with over 20 different fiat currency types, including USD, Yen and Euros.
  • High levels of security: With no major hacks reported to date, your funds will remain safe on the platform.
  • Easy-to-use mobile app: The mobile app is responsive with a simple UI that makes staking, trading and other activities easy.
  • Great rewards program: Crypto.com’s staking and debit card rewards make it an appealing option if you are deciding which company to trade with.
Cons
  • Limited customer support: Aside from its help center, Crypto.com offers few customer services.
  • Some services not offered in the U.S.: As with its desktop application, some of the company’s crypto transactions and platforms are unavailable to U.S. citizens.
Crypto.com

Join the 70M+ users who are investing with Crypto.com. Start buying, selling, and trading cryptocurrencies on their free app.

We earn a commission if you sign up, at no additional cost to you.

Robinhood – Best for Active Traders

Robinhood is a cryptocurrency trading platform and brokerage aimed at both novice and active traders. The company does not charge commission on its services and has recently begun to permit traders to withdraw funds from its platform.

If you trade on the platform, you will not be subject to any fees, and there is no minimum deposit. Robinhood is best for beginners and active traders, hence why it has made our list.

Pros
  • Zero trading fees: With no commission on trades, this means more money in your account.
  • Industry-leading security: The Robinhood platform provides several security features, including two-factor authentication, to safeguard your investment.
  • Easy-to-use mobile app: Robinhood places great emphasis on its mobile app, meaning its software runs quickly and efficiently and its interface is user friendly.
  • Publicly traded company: As a public company, Robinhood must maintain good relations with investors to remain in business.
Cons
  • Limited customer service: Other than its help center, Robinhood provides no other means of contacting its customer service team.
  • Not designed for larger accounts: Robinhood’s UI is intended for the average investor; thus, large retail accounts do not display or run as efficiently as small accounts.
Robinhood

Buy and sell Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies 24/7 and commission-free with Robinhood Crypto. Get started with Robinhood today!

We earn a commission if you sign up, at no additional cost to you.

Bisq – Best Decentralized Exchange

Dozens of exchanges exist worldwide, the majority of which rely on physical locations to operate their businesses. Bisq differs from these in that it is a decentralized finance (DeFi) application, meaning you can purchase BTC outside of a traditional exchange.

Bisq charges a fee of 0.5%, and you will need to pay a minimum deposit of .006 BTC.

If you are searching for the best decentralized platform for crypto trading, you can do no better than Bisq. The company also provides security and control — however, it does not currently offer any promotions.

Pros
  • Available globally: Bisq is downloadable and is therefore compatible with any device able to launch a Windows application.
  • 50+ payment options: You can link several payment options to the platform, including a BTC wallet.
  • Decentralized: Because Bisq operates on the BTC chain, you do not need to provide any personal information to set up an account.
  • High degree of privacy: You only need to connect the address of your wallet to the application, which means that your identity remains largely obscured.
Cons
  • Not designed for active trading: Due to being based on the BTC blockchain and with few trading pairs, Bisq is unlike other DeFi.
  • Must trade with BTC or BSQ only: Because Bisq operates on the BTC blockchain, you must exclusively use BTC or BSQ tokens to trade on its platform.

Crypto Exchange Guide for Beginners

When choosing your first exchange, these are the features you should look for:

Features
  • Privacy: It is of the utmost importance to keep personal data out of criminal hands; therefore, an exchange should not sell data to other users or outside parties.
  • Ease of use: A clean UI and simple trading features make crypto investing far easier.
  • Security measures: Security features such as two-factor authentication and authenticator apps specifically designed for trading will prevent you from losing money.
  • Liquidity: High liquidity, or pools on either side of a trading pair, will prevent an exchange from being vulnerable to a bank run and going under.
  • Fees: Lower fees mean more money remains in your investment.
  • Storage options: Aside from storing coins on the exchange, platforms should make it straightforward for you to store your coins in a cold storage wallet or hold your private keys in a software wall.

Understanding Crypto Exchange Fees

You will incur fees when trading in crypto on an exchange, as you would when trading in any other assets. These fees come in several forms, depending on the type of trade that occurs:

  • Trading fees: This is a minimal fee that the market maker charges when it lines up crypto trading opportunities for you, the buyer.
  • Withdrawal fees: These are fees you pay to the exchange or blockchain when you make the decision to withdraw funds from the platform.
  • Deposit fees: When you deposit new funds into your account, you will need to pay this fee for the exchange to handle them.
  • Account fees: These are annual charges for the general maintenance of your account.
  • Network fees: You will need to pay these fees to the miners or stakers on the blockchain to help them process trades for the ledger.

How to Open a Crypto Exchange Account

Many exchanges require information in accordance with Know Your Customer (KYC) laws where they operate. As such, you will need to provide the following details to open an account:

  • Full name and birth date
  • Phone number and email address
  • Physical address
  • Social security number
  • A government-issued ID
  • Funding source

 If you decide to set up an exchange account, you will generally need to follow these steps:

  1. Enter your personal details and contact information, and answer some questions.
  2. Upload an ID, passport or other government documentation to validate your identity.
  3. Add a payment method, such as a bank account, credit card, PayPal account, Venmo account or CashApp account.
  4. Once your account connects, you can conduct a standard wire transfer, move funds via the Automated Clearing House or send funds to your account via some other method to immediately begin buying and selling crypto.

Which Crypto Exchange is Best for Me?

The best crypto exchange for you will depend on your needs, the features you most desire and your overall comprehension of cryptocurrency. If you are a beginner, the simpler platforms above will suit you, while advanced traders will likely want analytical tools and DeFi options.

First, ascertain where you are in terms of your understanding of crypto and how comfortable you are with using it, then line up an exchange that works for you, personally.

Crypto Exchange FAQs

Below are answers to some of the commonly asked questions about crypto exchanges.

What is a crypto exchange?

As a trader, you can use a crypto exchange to exchange your fiat currency for digital assets, such as cryptocurrency coins and tokens.

How does a crypto exchange work?

A cryptocurrency exchange relies on a market maker to determine the automatic conversion rate of one currency into another.

What are the different types of crypto exchanges?

There are two types of crypto exchanges: centralized and decentralized. A company or entity manages the services of a centralized exchange, while smart contracts automatically facilitate trading on the blockchain in a decentralized exchange.

How do you buy cryptocurrency?

The easiest means of purchasing cryptocurrency is via a centralized exchange, as these entities are subject to financial committee regulations and make the crypto space more accessible.
 
Some companies adopt strategies such as spot trading or margin trading to increase profits; however, these are inconsequential to the average investor.

eToro

eToro provides investors, from beginners to experts, with a comprehensive crypto trading experience, on a powerful yet user-friendly platform. Start investing in crypto!

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

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