Best Crypto Trading Platforms & Exchanges 2023
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If you want to buy and sell digital currencies like Bitcoin, Ethereum, and Ripple – you’ll need to find a top-rated crypto trading platform that meets your needs. With hundreds of potential options to choose from – knowing which crypto platform to trade with can be challenging.
In this guide, we reveal the best cryptocurrency exchanges and Bitcoin Trading Platforms of 2023.
In bringing you the best providers, we sought to find platforms that offer low fees and commissions, lots of crypto markets, good customer support, and a safe and secure trading environment.
Best Crypto Trading Platforms & Bitcoin Exchanges 2023
After reviewing dozens of providers, we narrowed our list of the best crypto trading platforms down to just seven. For a full review of each platform, scroll down!
- eToro – Overall Best Free Cryptocurrency Exchange
- Coinbase – Best Crypto Trading Platform for Newbies
- Kraken– Buy Hundreds of Cryptos From Just $10
- Binance – Best Cryptocurrency Exchange for Day Traders
- Oanda — Multi-Award Winning Platform with CFD Crypto Trading
- Dash 2 Trade – Innovative Social Trading and Analytics Platform
- Bitstamp – Bitcoin Trading Platform With Low Fees
- Coinmama – Best Bitcoin Trading Platform With a Debit/Credit Card
- Gemini – Best Cryptocurrency Trading Platform for Security and Safety
- Luno – Bitcoin Trading Platform With Savings Account of Upto 4%
Bitcoin
5
Payment methods
Features
Usability
Support
Rates
Security
Selection of Coins
Classification
Rating
- Super user-friendly trading platform
- Deposit funds with a debit/credit card
- e-wallet
75% of retail investor accounts lose money when trading CFDs with this provider.
Rating
- Viele Kryptos zur Auswahl
- Hohe Sicherheit
- Integrierte Trading Tools
Krypto-Assets sind hochvolatile, unregulierte Investmentprodukte. Kein EU-Investorenschutz.
Rating
- Hugely popular trading platform in the US
- No minimum deposit in place
- Heavily regulated in the US
Securities trading offered through Robinhood Financial LLC, a registered broker-dealer and Member SIPC, and a subsidiary of Robinhood Markets, Inc.
Rating
- Large selection of coins
- Transparent fees
- Solid support
Crypto assets are highly volatile, unregulated investment products.
Rating
- Simple and fast way to buy and sell cryptocurrencies online
- Great reputation and now home to over 35 million customers
- Supports debit card and bank transfer deposits/withdrawals
Your money is at risk. The exchange holds an e-money license from the FCA.
Best Crypto Trading Platforms Reviewed
Most crypto exchanges in the online space operate in an unregulated manner. As such, finding a trusted provider is no easy feat.
In addition to safety, you also need to look at key metrics surrounding payments, pricing, trading tools, supported markets, and user-friendliness.
To help clear the mist, below you will find a selection of the best crypto exchanges in the market right now.
1. eToro – Overall Best Free Cryptocurrency Exchange (FINRA Registered)
If you’re looking for a safe and low-cost crypto trading platform that is suitable for newbies, look no further than eToro. This top-rated provider gives you access to 16 digital currencies. This includes the likes of Bitcoin (one of the best crypto to buy), Ripple, EOS, Cardano, Ethereum (and the best ERC tokens to buy), Floki Inu, ApeCoin, Litecoin, SafeMoon, and more.
Unlike other crypto trading platforms in the space, eToro does not charge any commissions when you buy and sell your chosen digital asset. On the contrary, the provider allows you to trade in a 100% commission-free environment and you can buy Ethereum with PayPal as well as find the best BSC coins here.
There are no ongoing fees either, so you can hold onto your crypto investment for as long as you wish. In addition to buying and selling digital coins outright, eToro also offers a crypto CFD trading facility. This is available to most clients apart from those based in the US and UK.
These CFDs cover almost 100+ crypto-to-fiat (e.g. ETH/USD) and crypto-to-crypto (e.g. BTC/XRP) pairs – all of which you can trade with leverage. Plus, if opting to trade crypto CFDs on eToro, you can even go short. This is handy in the event you think a particular digital currency is overvalued and thus – you wish to profit from this.
Irrespective of whether you buy cryptocurrencies or trade them via CFDs, the minimum stake on eToro is just $25. This is great for those of you that are entering the crypto trading scene for the first time. eToro also stands out for us as it offers automated crypto trading tools and yield farming features. On the other hand, you can also stake Ethereum and BSC.
Firstly, you have CopyPortfolios. These are professionally managed portfolios that give you access to a fully diversified basket of crypto assets. The team will add, remove, and rebalance assets within the CopyPortfolio as and when they feel this is needed. Secondly, eToro also offers a Copy Trading tool.
This allows you to copy a seasoned crypto trader like for like at an amount proportionate to what you invest (minimum $200). When it comes to regulation and safety, eToro does everything by the book. Not only is the platform regulated by the FCA (UK), ASIC (Australia), and CySEC (Cyprus), but it is also registered with FINRA.
This means that Americans can now use the eToro platform to safely and legally buy cryptocurrencies (but not trade CFDs). When it comes to getting started, eToro accounts usually take less than 10 minutes to open. This is because the provider can verify your ID automatically. You can fund your account with a debit/credit card, e-wallet, or bank transfer. In eToro, you can buy Bitcoin with PayPal or stake your cryptos as well.
Pros:
- Super user-friendly online brokerage and trading platform to buy altcoins
- Trade thousands of assets with tight spreads
- 100% commission-free
- You can also trade stocks, indices, ETFs, cryptocurrencies, and more
- Deposit funds with a debit/credit card, e-wallet, or bank account
- Social trading and copy trading
- Accepts PayPal
- Regulated by the FCA, ASIC, and CySEC, and registered with FINRA in the US
Cons:
- Not suitable for advanced traders that like to perform technical analysis
75% of retail investors lose money trading CFDs at this site
2. Coinbase – Best Crypto Trading Platform for Newbies
Coinbase is often the first crypto exchange that first-time investors will turn to. This is because the US-based provider is safe, user-friendly, and it supports a good range of payment methods. Coinbase – which is now home to over 35 million customers, supports a great selection of digital currencies that you can buy and sell with ease.
This includes most top-20 cryptocurrencies in terms of market capitalization – such as Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar Lumens, Tether, Decentraland, and Litecoin or DeFi coins. Coinbase also offers a number of less popular digital currencies, including but not limited to Band, Maker, Graph, and NuCypher which makes it an excellent defi trading platform.
Opening an account with Coinbase is also straightforward – as just like eToro, the platform is able to verify ID documents quickly. Then, you can deposit funds with a debit card or bank transfer. If opting for the former, you can purchase your chosen cryptocurrency both directly and instantly. Once the transaction is executed, the crypto will be added to your Coinbase account.
Coinbase is also a popular crypto trading platform to invest in Bitcoin as it has a great reputation. Launched way back in 2012, the platform offers some of the best security controls in the industry. On top of complying with all relevant anti-money laundering regulations in the US, Coinbase keeps 98% of client funds in secure offline storage. You can buy here the best new crypto coins.
It also requires you to sign up for two-factor authentication. This means you’ll need to enter a unique code every time you log in to your account – which you’ll acquire from your mobile device. Coinbase gives you the option of setting up a 48-hour time-lock on withdrawals, should you want to add an extra layer of security. Coinbase is also one of the best Dogecoin trading platforms in the crypto sphere.
With that said, Coinbase does come with a major flaw – it is one of the most expensive crypto exchanges in the market. For example, you will pay 3.99% to buy cryptocurrencies directly with your debit card. Although bank account deposits are free for most clients, you’ll still need to pay a trading commission of 1.49% – which is charged on both buy and sell orders. You can buy cryptos to play in an Ethereum casino.
Nevertheless, in addition to being able to buy and sell cryptocurrencies, this top-rated crypto exchange also offers a trading facility. Coinbase Pro comes packed with digital currency pairs that you can trade at lower commissions. This starts at 0.50% per slide, which is still expensive, but much more competitive than the 1.49% it charges to buy and sell. You can purchase here the best metaverse coins as well.
Pros:
- Simple and fast way to buy and sell cryptocurrencies online like Solana, Cardano, and Dogecoin
- Great reputation and now home to over 35 million customers
- Supports debit card and bank transfer deposits/withdrawals
- Coinbase Pro includes advanced order types
- Easy to use mobile app
- Crypto Savings Account
- Supports Faster Payments for GBP transactions
- Holds an e-money license from the FCA
Cons:
- Complicated and expensive fee structure
Your money is at risk.
3. Kraken- Buy Hundreds of Cryptos From Just $10
If you’re hoping to diversify your portfolio with a variety of crypto assets, Kraken is the best exchange that offers over 185 different tokens. The popular exchange is used by over 9 million traders worldwide and is supported by over 190 different countries.
What makes Kraken stand out from the rest is that the exchange offers a large variety of cryptos and you can get started for just $10. This makes it a great choice for those who are looking to split their funds between different tokens or start trading with small amounts of capital.
Furthermore, Kraken offers a range of educational materials that make it easy for users to navigate the platform and make informed trading decisions. These materials include in-depth articles, webinars and a helpful podcast.
If you need to contact support, the Kraken customer support line is available to use 24/7 every day of the year. This means that you will never be left alone with any issues that you may have. The support team is on-hand to help you at any time.
As well as traditional crypto trading, Kraken also offers staking on over 12 assets and margin trading with up to 5x leverage. It is also possible to trade 50+ futures contracts through the platform’s multi-collateral wallet feature.
Users can participate in each type of trading through the exchange’s easy-to-use trading platform. The trading interface has been designed with simplicity in mind and offers everything that you need to conduct analysis, research and make trading decisions.
As far as fees are concerned, Krakens are relatively low. The platform charges a 0.9% fee for stablecoin transactions and a 1.5% fee for any other crypto or FX pair. For NFTs, the transaction fee is 2%. The fees are charged on a per trade basis and traders may also be charged for deposits and withdrawals.
Pros:
- Easy-to-use platform
- Over 185 crypto assets available
- Can be used to trade NFTs
- Offers staking and margin trading
- Excellent security measures and 24/7 customer support
Cons:
- Not regulated in the US
- Fees apply for all trades
Your money is at risk.
4. Binance – Best Cryptocurrency Exchange for Day Traders
If you’re a crypto day trader – meaning that you actively buy and sell digital currencies with the view of making frequent profits, Binance could be the right platform for you. Although this top-rated crypto and altcoin trading platform was launched as recently as 2017, it is now home to the most volume. In fact, daily trading volumes on Binance frequently surpass $10 billion.
There are several reasons why this free cryptocurrency trading platform is so popular. Firstly, it is home to a huge number of crypto trading markets, which includes hundreds of pairs. This includes major pairs like BTC/USDT and BTC/ETH, but many micro-cap markets, too.
As such, Binance is also a good option if you have your eyes on a number of small altcoins that you wish to invest in, like Shiba Inu, IOTA, Dash Coin, CAKE, KAVA, Digibyte, OMI, and Monero. It’s also an excellent starting point if you’re looking for an NFT platform. Binance also stands out for us as it offers very competitive trading fees. This starts at just 0.10% – meaning that a $1,000 order could cost you $1 in fees.
You can get this commission reduced even further by holding Binance Coin – which is the cryptocurrency native to the Binance platform. Further, Binance offers reduced rates when you trade larger volumes. Most traders on Binance will deposit and withdraw funds in crypto.
However, the platform also offers support for debit/credit card and bank account transfers. This isn’t available to all clients though, and fees will vary depending on your location. For example, UK traders will pay a debit/credit card fee of 2%, while Americans pay much more at 4.5%. Binance offer one of the best crypto savings accounts in the industry.
Bank transfers, however, are usually free on this top-rated crypto platform, albeit, you’d need to wait a few days for the funds to arrive. Nevertheless, once you have opened an account on Binance – which takes just 30 seconds if you are not planning to use fiat currency, you will have access to an abundance of advanced trading tools.
This includes heaps of order types and in-depth chart reading capabilities. You can also view order book history which is particularly useful for seasoned pros. When it comes to safety, Binance allows you to store your digital currency through its online platform which is also helpful for traders who are looking for an NFT wallet. It also offers a mobile one. Or, you can withdraw your coins out to a private Bitcoin wallet of your choosing.
If you decide to keep your coins at Binance, the platform keeps the vast majority of client funds in cold storage. It also offers two-factor authentication and IP/device whitelisting. Perhaps even more impressive is the ‘SAFU’ feature hosted by Binance. This is a reserve insurance pot to cover clients in the unfortunate event the platform was hacked. You can also purchase cryptos to play in Bitcoin casinos.
Pros:
- Advanced charting platform with customizable indicators
- See the Bitcoin trading order book and depth chart
- Extremely low fees with discount for using BNB
- Regulated by the FCA
- Proven security measures
Cons:
- No stop-loss or if-then orders
- Customer service via ticket system only
Your money is at risk.
5. Oanda — Multi-Award Winning Platform with CFD Crypto Trading
Oanda is one of the top forex brokers in the USA, with branches worldwide. With Oanda, you will access an extensive range of asset classes, including stocks, bonds, commodities, precious metals, and forex, along with CFDs and CFDs crypto trading. There is more to Oanda than just profitable trading opportunities since it is home to award-winning proprietary platforms and precise technical indicators.
Crypto trading is possible on 13 major cryptocurrencies on the MT5 platform of Oanda, including BTC, ETH, Litecoin, Binance Coin, Cardano, Chainlink, Dogecoin, Polkadot, EOS, Stellar, Tezos, and Uniswap. With the platform, traders can access customizable layouts, trade-through charts, a wide range of plug-ins, and an intuitive interface. In addition, traders can test their strategies on both live and demo accounts before committing to real funds. Trading cryptocurrencies with MT5 is a versatile and comprehensive option for those looking for the biggest names in this market.
Additionally, Oanda provides various educational resources and tools for traders to improve their abilities and make better trading decisions. Video, e-books, and webinars are some educational materials they provide. Additionally, traders have access to a comprehensive FAQ section and 24/7 support for any questions or problems.
It is also worth mentioning that Oanda offers a currency converter tool, which allows clients to convert between different currencies with real-time market data provided by OANDA RatesTM, a collection of leading forex market data contributors. This tool can be a useful resource for traders and anyone looking to convert currency for business or other purposes.
Pros:
- Top-tier regulatory authorities regulate the company
- Multi-option trading platforms
- A wide range of instruments are available for trading
- Research and educational resources
Cons:
- US traders do not have access to negative balance protection
Your money is at risk.
6. Dash 2 Trade- The Best Social Trading and Analytics Platform
If you’re looking for a trading platform that includes absolutely every tool that you might need to make profitable trades, Dash 2 Trade could be the best option for you!
The platform is a new player in the market but that does not mean that it lacks expertise. Dash 2 Trade has been developed by a team of industry experts that were also involved with the best-selling Learn 2 Trade platform.
Dash 2 Trade incorporates everything into one place including educational resources, auto-trading features, social trading, trading competitions, signs and listing alerts, easy token swapping, a reliable wallet and crypto staking.
In fact, the above list does not cover everything that is included in a Dash 2 Trade subscription!
The aim of the project is to provide traders with a high-quality tool that can help them to navigate the market with confidence and improve their trading. The platform focuses on quality over anything else and seeks to provide users with the best experience possible.
To use Dash 2 Trade, you will need to buy the D2T token, which can then be used to pay for subscriptions. The token is a deflationary assets itself that can be exchanged for other currencies. Furthermore, the platform rewards users with tokens for spending time in the ecosystem. As a result, it is possible to earn whilst trading when you use Dash 2 Trade.
Pros:
- Blockchain-based platform that harnesses advanced crypto trading technology
- Multiple crypto assets are available
- Provides access to NFTs
- Offers a range of educational materials, accurate signals and expert insight
Cons:
- Users must pay to access some platform features
Your money is at risk.
7. Bitstamp- Bitcoin Trading Platform With Low Fees 
Bitstamp is a global cryptocurrency exchange backing nine major digital currencies, including Bitcoin, Litecoin, Ethereum and Ripple. It acts as an intermediary between buyers and sellers, offering a secure platform on which users can place orders and trade Bitcoin, Ethereum and other coins.
It provides high liquidity, low trading fees and low latency order execution. Bitstamp’s user-friendly interface and built-in tools make it a great choice for new cryptocurrency traders to buy and sell digital currencies quickly and securely.
Leverage trading, real-time data analysis and other advanced features are available for experienced users on the Bitstamp platform, allowing traders to react quickly to market changes. With a wide range of customer support options and strong security protocols, Bitstamp is one of the most reliable exchanges for cryptocurrency trading.
Bitstamp is a global digital asset exchange which has continued to guarantee transparency and reliability for its customers. It is licensed by the Luxembourg Financial Industry Supervisory Commission and meets the European Union’s payment services directives.
The platform also has a mobile app so traders can stay updated wherever they are. Thanks to its simple yet effective tools, Bitstamp has become one of the most popular cryptocurrency trading platforms in the whole world.
Pros:
- Very low platform fees
- Access to real-time data analysis
- Trade major crypto assets including Bitcoin and Ethereum
- Licensed by the Luxembourg Financial Industry Supervisory Commission
Cons:
- Limited number of assets available
- The platform doesn’t offer any advanced charting tools such as MT4
Your money is at risk.
8. Coinmama – Best Bitcoin Trading Platform With a Debit/Credit Card
Coinmama is a good option if you are planning to buy and trade Bitcoin and store your coins in a private wallet for several months or years. This is because, unlike other crypto providers, Coinmama does not allow you to store your coins on the platform.
Instead, you need to enter your wallet address when you make a purchase, and Coinmama will instantly forward the digital currency. In particular, Coinmama is popular with those that wish to buy cryptocurrency with a debit or credit card.
In order to do this, you will need to first upload a copy of your government-issued ID, alongside a selfie. This is to ensure Coinmama remains compliant with anti-money laundering laws. Then, it’s just a case of entering your card details and deciding how much you wish to invest.
Coinmama actually hosts 8 different cryptocurrencies – which include Bitcoin, VeChain, Litecoin, Bitcoin Cash, Ethereum, and Ethereum Classic. Crucially, once you have verified your Coinmama account, making a purchase should take you less than a few minutes. Plus, you can then use Coinmama to sell your coins back to fiat currency.
Although Coinmama offers one of the easiest ways to invest in crypto, we should make it clear that the provider charges handsomely for its services. For example, all cryptocurrency prices that you see on the platform are typically 2% less favorable than the current market rate.
This means that you are indirectly paying a fee of 2%, which is essentially a ‘spread’ in all but name. Then, Coinmama also charges a trading commission of 3.90% when you buy a cryptocurrency and 0.90% when you sell. If you thought this was bad enough, there are also extortionate fees charged on debit and credit card transactions.
This stands at 5% of the transaction amount. The cheaper option is to transfer funds from your bank account, but again, this will delay the process. Plus, Coinmama charges a £20 fee on bank wire deposits of less than $1,000.
Pros:
- Buy Bitcoin and 7 other digital currencies
- Purchases often take less than 10 minutes from start to finish
- Supports debit/credit cards, SEPA, and SWIFT
- Launched way back in 2013
- Very easy platform to use
- Coins are automatically sent to your private crypto wallet
Cons:
- 2% mark-up on Bitcoin trading rate and 3.90% buy commission
- Debit/credit card deposits add an extra 5% fee to the trade
Your money is at risk.
9. Gemini – Best Cryptocurrency Trading Platform for Security and Safety
If you’re looking for a US-based crypto exchange that is both safe and secure, then Gemini could be the best option for you. Although not the most competitive platform in terms of fees, Gemini offers a range of investor protections that ensure you can trade in a safe environment.
For example, all clients of Gemini are required to go through an enhanced identity verification process. All US dollar deposits held at Gemini are covered by the FDIC, which is a major plus point for Americans. Perhaps most important, Gemini is regulated by the New York State Department of Financial Services (NYSDFS) as a trust company (Gemini Trust Company, LLC).
On top of offering institutional-grade security, Gemini is able to offer traders significant levels of liquidity. This is why the platform is often the preferred provider for large-scale and institutional investors. When it comes to supported markets, Gemini is home to 20+ cryptocurrencies. These can all be traded against the US dollar.
In terms of fees, Gemini charges 1.49% on all buy and sell orders. If you trade less than $200, you will pay a flat fee. This will depend on the amount you buy or sell, but will work out more than 1.49%. In addition to this, Gemini charges a markup of 0.50% above the current rate of the cryptocurrency you are trading.
If you like the sound of Gemini, you’ll need to deposit funds via bank transfer. There is no support for debit/credit cards or e-wallets. You can also fund your Gemini account with a cryptocurrency. Finally, we should note that on top of the US, Gemini is also available in the UK, Canada, Singapore, South Korea, and Hong Kong.
Pros:
- Popular with large-scale investors and seasoned traders
- Institutional-grade security practices
- Buy, sell, and trade 20+ digital currencies like Tron
- Based in the US
- USD deposits are FDIC insured
- Easy to deposit and withdraw funds with fiat currency
Cons:
- Not a great option for newbies
- Charges a commission of 0.5% per slide
Cryptoassets are highly volatile unregulated investment products. No EU investor protection.
10. Luno – Bitcoin Trading Platform With Savings Account of Up to 4%
Luno is a free cryptocurrency and Bitcoin trading platform that is often used by newbies entering the market for the first time. In particular, Luno is a great option if you are planning to buy, sell, and trade cryptocurrencies via your mobile device.
This is because the provider offers a fully-fledged app that is available on iOS and Android. The app offers a seamless user experience that isn’t hindered by smaller screen sizes. As a newbie-friendly crypto trading platform, Luno allows you to buy digital assets with a debit or credit card.
With that said, this does come with a fee of 3.5%, which is on the steep side. On the other hand, if you are able to deposit funds with crypto, you’ll only pay the respective blockchain fee. Either way, once you have funds in your Luno account, you can then trade at a commission of just 0.1%.
You’ll have access to several chart reading tools, which include integration with TradingView. One of the best features offered by this top-rated crypto trading platform is its savings account. This allows you to deposit crypto and earn up to 4% annually. You will, however, need to lock your coins up for a certain period of time.
The longer you lock the coins away, the more interest you can earn. This is a really innovative feature that allows you to earn income on a cryptocurrency investment that would otherwise be left sitting idle. After all, you’ll still benefit if the cryptocurrency in question rises in value, as you’ll receive the full principal amount back from Luno once the deposit term expires.
Pros:
- Bitcoin savings wallet with 4% interest
- Advanced charts from TradingView
- Supports market, limit, and stop-loss orders
- Excellent mobile trading app
- Relatively low fees for trading Bitcoin
Cons:
- No one-minute price charts
- Confusing fee schedule
Your money is at risk.
New Crypto Coins To Buy in 2023
Now you have a good idea of some of the best platforms to use to buy cryptocurrency, let’s take a look at the best coins to invest in right now!
RobotEra 
First on our list is TARO- the native token of the RobotEra metaverse game. TARO is a deflationary crypto asset that built on the Ethereum blockchain and will be sued to support the entire RobotEra ecosystem. The token has a limited supply of just 1.8 billion, which means that the value if predicted to increase as the project continues with development.
RobotEra is an exciting new NFT metaverse game that shares similarities with The Sandbox. However, players of this new game do not need any knowledge of coding to build metaverse assets. As a result, all players have the opportunity to earn rewards by creating assets and completing tasks within the game to earn tokens.
In RobotEra, players play as a robot who is tasked with occupying the planet TARO. To do this, players must build and create by mining materials and completing tasks. Players can interact with each other within the metaverse and can also access other metaverse worlds and projects.
RobotEra is still under development, yet the project has already attracted the attention of keen players. The project is predicted to be a huge success and the TARO token could see significant gains in the near future. The best way to take advantage of these gains is to purchase the token whilst the presale event is underway.
Your money is at risk.
- How to Buy $COPIUM in 2023
How to Choose the Best Cryptocurrency Trading Platform for You
As per CoinMarketCap, there are now close to 300 crypto exchanges and crypto lending platforms operating in the online space. Of this figure, more than 120 have facilitated trading volume of more than $100 million in the past 24 hours prior to writing this guide.
As such, the process of choosing a crypto trading platform for your needs can be a daunting task.
The good news is that selecting a provider doesn’t have to be challenging if you have a checklist of key metrics in place – such as those surrounding safety, tradable markets, payment, and of course – fees.
Let’s explore these core requirements in a bit more detail.
Regulation and Safety
We just mentioned that there are now just under 300 online exchanges offering crypto trading and change services. Make no mistake about it – the vast majority of these providers are unregulated and unlicensed.
This is a major problem, as you can never be 100% sure whether or not your money is safe. But, with many of these crypto exchanges offering industry-leading fees, inexperienced investors are unwittingly drawn in.
As such, we should make it clear that you should never sign up with a crypto trading platform if it does not offer a range of safety nets and account protections.
The best way to gauge this is to check if the crypto trading platform is regulated. In the case of eToro – our top-rated platform, the provider is regulated on three fronts. This includes the FCA, ASIC, and CySEC. The platform is also registered with FINRA, which allows it to accept American traders legally.
Assets
Some crypto trading platforms will offer heaps of markets, while others focus on a select few. For example, in the case of Coinmama, the platform only supports 8 digital currencies. At the other end of the scale, eToro supports 16 coins and almost 100 pairs.
When considering your preferred crypto pair, this typically comes in one of two forms – crypto-to-fiat or crypto-to-crypto.
- Crypto-to-Fiat: If using a regulated platform, you will likely have access to crypto-to-fiat pairs. This means that you will be trading the value of a cryptocurrency against a fiat currency. A prime example of this is BTC/USD – which consists of Bitcoin and the US dollar.
- Crypto-to-Crypto: Most platforms in this space offer crypto-to-crypto pairs. This means that you’ll be trading the exchange rate between two different digital assets. For example, the pair BTC/EOS consists of Bitcoin and EOS.
In addition to the above, you might also be interested in digital currency derivatives. For example, the top cryptocurrency trading platforms offer futures and options markets on Bitcoin. These normally come with the added benefit of leverage and short-selling capabilities.
Fees
As we have discussed throughout this guide on the best crypto trading platforms of 2023, you will always need to pay a fee of some sort when buying and selling digital currencies online.
This can vary quite wildly, so below we’ve listed the main fees that you need to explore before choosing a provider.
Deposit and Withdrawal Fees
Before you can start trading crypto, you will need to fund your account. If you don’t already have access to some digital coins, you will need to choose a provider that supports fiat currency deposits. It is important to note that even the top cryptocurrency trading platforms charge handsomely for funding your account with a debit or credit card.
For example:
- Coinmama charges 5%
- Coinbase charges 3.99%
- Binance charges 4.5% (US accounts)
- Luno charges 3.5%
Ultimately, when paying such a high fee to deposit funds, you need to make this back in gains just to break even. This is why we would suggest considering eToro if you want to find your account with fiat currency.
The regulated provider charges just 0.5% on debit/credit cards, e-wallet, and bank wire deposits. In fact, if you’re based in the US and using a USD payment method, you won’t pay any deposit fees at all.
Commission Fees
In a similar nature to stock trading platforms, forex trading platforms, and CFD trading platforms – the crypto exchange providers will always charge a commission. Unless you are trading really small amounts, this is usually a variable commission that is multiplied against the value of your trade.
For example:
- Coinbase charges a trading commission of 1.49%
- Gemini charges a trading commission of 1.49%
- Coinmama charges a trading commission of 3.90% (0.90% on sell orders)
Trading commissions are always charged’ per slide’, meaning you pay it when you buy a cryptocurrency and again when you sell. As such, the higher the position, the more you will pay.
There is an exception to the trading commission rule, as eToro allows you to buy and sell digital currencies fee-free. This means that you only pay the spread – which is the difference between the bid and ask price of the crypto asset in question.
Other Fees to Consider
In addition to commissions and deposit/withdrawals, you also need to consider the following crypto trading platform fees that might come into play.
- Crypto Mark-Up: A lot of crypto trading platforms will charge a mark-up fee. This is not too dissimilar to the FX fee that your bank charges you when you use your debit card overseas. For example, Gemini charges a mark-up of 0.5% above the wholesale rate it is able to get.
- Spreads: You always need to take the spread into account – especially when trading less liquid crypto pairs. As noted above, this is the difference between the bid and ask price. If, for example, the spread amounted to 0.9%, then you need to make gains of 0.9% to break even.
- Margin Fees: If you plan to trade crypto with leverage, you’ll need to factor in margin fees. This is the interest that you pay to trade with more than you have available in your platform account.
Trading Tools & Features
We find that the best cryptocurrency trading platforms offer heaps of useful features that potentially suit investors of all shapes and sizes.
This includes:
Support for Crypto Trading Robots
The ‘cryptocurrency robot’ scene has grown to new heights in recent years. The main attraction here is that the robot will buy, sell, and trade crypto on your behalf. This is based on a pre-defined algorithm that reacts to specific market conditions.
The process works as follows:
- You join a third-party crypto robot platform
- You either buy a pre-programmed robot from the marketplace or build one yourself from the ground-up
- You then connect the robot to your preferred crypto trading platform via an API code
- The robot will then trade on your behalf
Of course, there is every chance that your crypto robot will end up losing you money, so it’s best to start off in demo account mode.
Copy Trading for Bitcoin and other Cryptocurrencies
If you like the sound of automated crypto trading, we would argue that you are best off using the Copy Trading feature offered by eToro. In doing so, you’ll get to choose a successful crypto trader that uses eToro – based on past performance and average monthly return. Then, you can copy the trade like-for-like in a fully transparent and regulated environment.
Everything is proportionate to the amount you invest in the trader. For example, if you invest $500 and the trade risks 20% of their portfolio buying Bitcoin, $100 with of BTC will be added to your portfolio (20% of $500).
This is a much safer option for a number of reasons. Firstly, you will be relying on a proven human trader – so there is no chance of the individual ‘malfunctioning’ like a robot can.
Secondly, the human trader is fully aware of fundamental news developments, while trading robots rely solely on technicals. Additionally, eToro allows you to invest just $200 into each crypto trader. As such, a $1,000 investment would allow you to diversify across five seasoned pros.
Leverage and Short-Selling
Most first-timers will look to invest in their chosen cryptocurrency on a long-term basis. However, if you see yourself as a day trader or swing trader, it’s best to pick a platform that offers sophisticated trading tools. For example, the likes of eToro and Kraken allow you to apply leverage to your crypto trades.
This allows you to boost the value of your position and thus – trade with more than you have in your account. The aforementioned crypto trading platforms allow support short-selling. This allows you to speculate on the value of a cryptocurrency going down – which is ideal during bearish trends.
Education, Research & Analysis
The best crypto platforms that we reviewed offer an abundance of educational resources. This is really useful for those of you that have little to no experience in the crypto trading scene.
For example, eToro offers trading guides and videos. It also offers podcasts, webinars, and social trading features. Regarding the latter, this allows you to communicate with other eToro traders in a ‘Facebook-like’ environment. When it comes to research, the best cryptocurrency trading platforms provide you with both fundamental and technical analysis tools.
For example, if you’re planning to actively trade – you’ll want to choose a provider that offers chart reading tools and indicators. It’s also useful if the provider offers market commentary and trading insights.
Liquidity
If you sign up with an unknown crypto trading platform, it’s all but certain that liquidity levels will be on the low side. This can be devastating, as you might find it difficult to enter and exit your chosen crypto market.
For those unaware, liquidity refers to the amount of capital that a Bitcoin exchange possesses on a particular pair. If there is lots of liquidity, this means that the platform benefits from large trading volumes.
In turn, you will have access to much tighter spreads, which will reduce your trading costs. And most importantly – when using a crypto trading platform that is home to high liquidity levels, you will always be able to find a buyer when you plan to exit a position.
User Experience
In our search for the best crypto trading platforms in the market, we came across a number of providers that offered a less than favorable user experience. In some cases, we found it difficult to find our preferred marketplace – as there was a lack of a fully functioning search facility.
We also came across providers that offered an overly complex trading platform – especially when it comes to placing orders. Don’t forget, you are going to be risking your hard-earned money, so you’ll want to choose a crypto trading platform that makes the investment process seamless and burden-free.
In our view, we found that eToro offers a superb user experience. For example, in order to trade BTC/ETH, you simply need to enter this into the search box. Then, a pop-up box will appear asking for you to enter your trade specifics. If you want to keep to the basics, all you need to enter on eToro is the value of your stake in US dollars and click on the ‘Open Trade’ button’.
Mobile App
The biggest and most popular crypto trading platforms of 2023 will offer a native mobile app. This usually gives you access to all of the same features and tools as found on the main desktop trading platform.
- For example, the eToro app allows you to instantly deposit funds with a debit/credit card or e-wallet and check the value of your portfolio in seconds.
- You can also buy, sell, and trade crypto seamlessly, even on a small mobile screen.
If your chosen crypto trading platform does offer an app, this will usually be supported for both iOS and Android operating systems.
With that said, you need to check what the mobile trading experience is like – as we also came across apps that were clunky and regularly crashed.
Payment Methods
We have discussed payment methods extensively in this guide. After all, if you want to trade crypto online – you will need to add funds to your account. The top cryptocurrency trading platforms support debit/credit cards and even e-wallets like Paypal.
Others will only offer support for bank account deposits. In a lot of cases, you’ll find that the platform only supports deposits and withdrawals in the form of crypto. This is usually because the provider does not have the legal remit to accept fiat currency.
Customer Service
Some crypto trading platforms are home to millions of active traders. While this illustrates that the provider offers a good service, this might not be the case regarding customer support. This is because not all trading platforms have the resources to employ a full-time customer service team.
If they don’t, then you might find that the only support channel offered is via email. This means that you might need to wait a few days before you get a reply. If top-rated customer support is important to you, eToro offers a live chat facility that can be accessed once you are logged into your account.
How to Start Crypto Trading
If you’re itching to start trading crypto from the comfort of your home – but you’re not too sure where to start, we are now going to walk you through the end-to-end process with eToro.
By following the guidelines below, you’ll have your first crypto trade placed in less than 10-15 minutes!
Step 1: Open an Account and Upload ID
Visit the eToro website – either online or through your mobile phone, and click on the ‘Join Now’ button.
Your capital is at risk.
75% of retail investor accounts lose money when trading CFDs with this provider.
You will now be asked to provide some personal information. This includes your name, country of residence, date of birth, mobile number, and email address.
Step 2: Upload ID
As a regulated provider, eToro will ask you to upload a copy of your ID and proof of address (utility bill or bank account statement). This is usually validated in less than a couple of minutes.
Step 3: Deposit Funds
You will need to meet a minimum deposit of $200 ($50 for US clients) before you can start trading on eToro.
This top-rated crypto trading platform supports the following payment methods:
- Debit Cards
- Credit Cards
- E-wallets (Paypal, Skrill, Neteller)
- Bank Wire
If you’re a US citizen depositing in USD, you won’t pay a fee to fund your eToro account. Otherwise, you will pay an FX fee of 0.5%.
Step 4: Search for a Crypto Trading Market
eToro supports 16 digital currencies and almost 100 pairs. If you know which pair you wish to trade, search for it before clicking on the ‘Trade’ button.
If you want to browse what markets are offered by eToro, click on ‘Trade Markets’, followed by ‘Crypto’.
Step 5: Place a Trade
The final stage of the process is to place your first crypto trade!
This is super easy on eToro, as you simply need to enter your stake. As you can see from the image below, we are buying $25 worth of Bitcoin commission-free. This is the minimum on eToro when trading crypto.
Your capital is at risk.
75% of retail investor accounts lose money when trading CFDs with this provider.
Finally, click on the ‘Open Trade’ button to place your crypto order!
Best Cryptocurrency Exchange & Bitcoin Trading Platform – Conclusion
This guide has explained that there are now close to 300 crypto trading platforms in the market – so choosing the right provider for you is crucial. You shouldn’t be blinded exclusively by low fees, as many other important factors need to be considered. This includes safety, customer support, tradable markets, payments, and more.
In conclusion, we found that eToro is by far the best crypto trading platform in the retail investment market. The provider – which is regulated by three bodies, allows you to trade cryptocurrencies commission-free. The minimum stake is just $25 and the provider allows you to instantly deposit funds with a debit/credit card or e-wallet.
eToro – Best Crypto Trading Platform with 0% Commission
Your capital is at risk.
75% of retail investor accounts lose money when trading CFDs with this provider.
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Kane Pepi
Pro Investor
