Best Crypto Exchanges For 2021

Binance.US, a domestic exchange run by global crypto powerhouse Binance, provides much of its parent company’s pros, including industry-low fees and a broad range of cryptocurrencies available to trade.

For the casual crypto fan, Binance.US offers a simple, form-based platform (under the Buy Cryptocurrency tab) designed for transactions under $10,000 that lets you pretty intuitively buy, sell and convert its tradable cryptocurrencies.

More advanced users, though, can take advantage of a myriad of trading order types, including limit, market and stop-limit, as well as two powerful trading dashboards chock full of important data, like spot price and 24-hour highs, lows and trading volume. New users blissfully unaware of what a candlestick graph is (much less how to read one) may feel overwhelmed and should stick with the Buy Cryptocurrency tab until they get a better lay of the land.

Binance.US’s 50+ available coins may satisfy most crypto investors, but enthusiasts may miss the more than 300 cryptos this domestic version doesn’t offer. In addition, not all U.S. residents currently can access the platform: Those who live in Connecticut, Hawaii, Idaho, Louisiana, New York, Texas and Vermont cannot hold Binance.US accounts.

Unfortunately Binance.US’s educational resources lag behind those offered by the original Binance’s Binance Academy as well as those from slightly more beginner-friendly exchanges, like our pick for newbies, Coinbase.

Coinbase, 2021’s belle of the IPO ball, is the crypto exchange you may be most familiar with if you’re just now getting interested in crypto. That’s for good reason: In addition to the buzz surrounding its exuberant valuation, Coinbase Pro, the robust exchange powering Coinbase, is one of the largest and safest platforms out there. (In fact, Coinbase Pro was a top contender for our Best Overall Cryptocurrency Exchange.)

Coinbase’s 60-odd tradable cryptocurrencies should satisfy most looking to break into the crypto space, like those hoping to hitch their wagons to Bitcoin and Ether, but sadly, you’ll have to go elsewhere to invest in the highly memeable Dogecoin. (Not necessarily a bad thing for your long-term wealth.)

Coinbase stands out for its easy-to-use interface that makes one-time or recurring crypto investments a snap. But this convenience comes at a cost.

Its confusing fee structure charges you more than it would to make the same purchase on the company’s less beginner-friendly Coinbase Pro platform, which is also free to use.

That said, if you’re ready to level up and go to Pro, you’ll probably find lower fees at most other major crypto exchanges, unless you’re trading above a million monthly.

As with its international industry-leading counterpart, Binance.US offers a still-extensive array of cryptocurrencies, from mainstays like Bitcoin and Ether to BNB, the platform’s proprietary stablecoin. This last one is important because frequent traders may lower trading costs by 25% when converting their investing dollars to BNB.

As with most exchanges, Binance.US rewards high-volume crypto traders with progressively lower transaction fees, though this won’t kick in until you trade at least $50,000 of cryptocurrency within a 30-day period. (Keep in mind its base trading fee may be lower than competitors’ even before you hit that volume.)

Binance.US provides two comprehensive market dashboards, named Simple and Advanced, with real-time market data.

As mentioned in its Best Overall writeup, Binance.US enables multiple order types, including limit, market and stop-limit, which should cover most crypto traders’ needs, as well as over-the-counter (OTC) trading.

You’ll be able to make these trades using U.S. dollars, USDT (a U.S. dollar stablecoin) and Bitcoin. It’s important to note, however, that Binance.US does not currently support margin trading—a risky practice that allows traders to use borrowed money to amplify returns while similarly increasing the amount they can lose. That is why it’s generally not recommended for beginner or even intermediate investors.

U.S. regulators are currently investigating how to handle crypto margin trading, and big names like Coinbase Pro have recently ceased margin trading in the U.S. for retail investors. Those dead set on using margin to trade crypto may look to Kraken, which has slightly higher trading fees that similarly decrease for high-volume traders.

Binance.US does not currently offer futures trading either; this feature is even pending regulatory approval for Kraken in the U.S.

One of the oldest U.S. crypto exchanges, founded in the Paleolithic era of crypto (2011), Kraken offers a solid range of coins with low fees.

Crypto.com provides a broad amount of cryptocurrencies—currently more than 70—as well as unique perks, like a crypto rewards debit card for those hoping to optimize for coin-based rewards.

Similar to Coinbase, Gemini may be best for beginners looking to dip their toes in the crypto waters. Its convenience and easier usability come with a higher (and confusing) fee structure that may be worthwhile as you learn the ropes before graduating to its (or another platform’s) lower-cost spot trading options.

Gate.io gives users access to a prodigious more than 600 different coins, according to CoinMarketCap.com, making it better for advanced crypto traders on the hunt for less common altcoins.

Another heavy hitter when it comes to the sheer amount of coins available, KuCoin provides access to a wide library of altcoins at low fees.

An early entrant to the crypto exchange space, Bitstamp currently provides a rather limited range of cryptos, though these may be enough to satisfy most traders.

Boasting a veritable cornucopia of coin options, Bittrex may be best suited to high volume traders who are able to take advantage of its discounted fee schedule.

bitFlyer offers a very limited range of coins but very low trading costs, making it a strong fit for those who want to trade a lot (or a little) of a small variety of cryptos.