7 Best Crypto Exchanges & Apps of 2023

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.

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.

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.

eToro USA LCC does not offer CFDs, only real Crypto assets available. 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.

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.

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.

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.

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.

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.

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.

Crypto Exchange Guide for Beginners

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

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.