Best cryptocurrency exchanges and trading apps in May 2023

While cryptocurrencies have grown in popularity in recent years, only a handful of Americans have actually traded cryptocurrency exchanges. Among the most popular cryptocurrencies are Bitcoin, Ethereum, and Cardano, each of which has seen a lot of action as its price has gone up and down. Is it appealing to entrepreneurs? The potential to make big money with the volatility of these very valuable assets.

There are more and more ways for more and more traders to access cryptocurrencies. The growing interest in cryptocurrencies has spawned new exchanges and trading platforms. In fact, you already have an app on your phone that allows you to trade. For example, if you have a PayPal or Venmo app, you can buy and sell at least a few different cryptocurrency coins. However, other apps and exchanges provide access to a greater variety of cryptocurrencies (there are literally thousands of them) or offer other benefits such as lower prices.

Here are the best apps and exchanges for cryptocurrency trading and some important things you should know.

Best Apps and Exchanges for Cryptocurrency Trading May 2023

The following platforms include professional cryptocurrency exchanges, online brokers, payments and payment apps. You can make the most of each app or transaction range, including the price and number of coins you can sell.

Especially if you want to trade Bitcoin, the largest cryptocurrency, it might not make sense to choose an app that offers coins in a different category. On the other hand, if you’re looking for the hottest deals right now, consider our app or try our wider variety of deals.

Bittrex

Bittrex is an attractive option for crypto traders, especially for those trading in high volume, due to its simple and low fees. If you trade less than $50,000 every 30 days, you pay a fee of 0.25-0.30%, but if you trade a lot of money, the fee drops off quickly from there. Additionally, Bittrex does not charge USD deposits or ACH withdrawals.

Cryptocurrency enthusiasts will also appreciate Bittrex’s trading offers for nearly 100 cryptocurrencies. You can find many popular coins including Bitcoin, Ethereum, and Dogecoin, as well as more obscure listings.

Fees: Fees start at 0.35% and drop quickly for traders with high trading volume.

Coins for sale: 100+ coins including Bitcoin, Ethereum, Dogecoin and Litecoin.

Binance.US

As the US branch of the largest Binance organization, Binance.US is one of the best cryptocurrency exchanges due to its low cost of trading. Bitcoin and Ethereum traders have access to commission-free trading, while the prices of other coins are offered on a sliding scale for high-volume traders. You can also get a 25% discount when you pay your trading fees using BNB, Binance’s internal coin.

Additionally, you can trade over 130 different cryptocurrencies on Binance, so you should have no problem finding what you’re looking for, especially if you only want to trade the most popular coins.

Cost: Bitcoin and Ethereum are free, but fees for less common coins start at 0.45% and decrease for high-volume traders. A 25% discount is available when you pay trading fees to BNB.

Coins for sale: 137 coins including Bitcoin, Ethereum, Solana, Cardano, and more.

eToro

eToro brokers have always all been cryptocurrencies (although they can trade other stocks, even for US traders). eToro gives you access to nearly 80 cryptocurrencies not commonly found in traditional brokerage apps, such as Tezos, Uniswap and Polygon. The app doesn’t charge any fees directly, it charges a flat 1% markup regardless of the coins or amount purchased.

Pricing: No commission, 1% markup

Coins for sale: 79 cryptocurrencies including Bitcoin, Ethereum, Dogecoin and more.

Coinbase

Coinbase is a professional cryptocurrency exchange that allows you to trade a group of 230 digital currencies at the final tally. This coverage will scratch your crypto itch as it covers all the top coins, including Bitcoin of course. But how much do you pay to use the basic service? Unfortunately, Coinbase has recently become more suspicious of what you pay for a transaction, hiding its fee structure on its website.

When revealed, there was little complexity in the fee structure. Depending on the size of your trade and your funding source, you will pay a markup of around 0.5% plus trading fees. For Coinbase Advanced Trade, you pay fees that start at 0.6% for 30-day trade volumes under $10,000, drop to 0.15% for trade volumes over $100,000, and then drop further.

Cost: Typically, as low as 1.99% (lower on Coinbase Advanced Trading).

Coins for Sale: 230 Bitcoin, Ethereum, Cardano, Solana, etc.

Kraken

Kraken is another professional cryptocurrency exchange where you can trade many different coins, including popular coins and some not usually available on regular finance apps (Solana, Uniswap, Cardano, etc.). In total, the exchange supports trading in over 212 cryptocurrencies. Kraken does not serve New York and Washington state residents.

Commissions on Kraken Pro are competitive in the 0.16-0.26% range at low volume levels, decreasing in the 0-0.1% range at $10 million or more per year. last 30 days. Wealthy traders have access to margin trading, which increases their purchasing power (and risk). You can deposit by ACH for free with Kraken, but there is a 3.75% 25 cent debit or credit card transaction fee, and if you fund through a bank, you will be charged an online banking processing fee of 0.5%. the maudi of the check.

Cost: Fees start at 0.26% plus card and online banking fees.

Coins that can be traded: Bitcoin, Ethereum, Solana, Uniswap, etc 212.

Robinhood

It also provides a fee-free structure to the crypto world. Although trading may seem free, Robinhood charges a premium margin instead of a fee. That is, the cost is included in the cost of buying or selling the coin. Robinhood’s Instant Transfer feature allows you to get started almost immediately, so download and go.

Cost: $0 or no fee, but with a profit.

Available for exchange: 18 of them, including Bitcoin, Dogecoin, and Ethereum (some not available in all states).

Webull

Webull may not be the flagship model for commercial apps, but its feature set feels like a step up from Robinhood. Like its popular competitors, Webull offers stocks, options, ETFs and cryptocurrencies at no cost. Also, Webull works for the profit margin of cryptocurrency trading, so the price is included in the trade. You can also trade more coins than you can with Robinhood, including Cardano.

Cost: No commission, 1% markup (100 basis points).

Coins traded: 58 types including Bitcoin, Ethereum, and Solana.

Cash app

When you think of cryptocurrency, Cash App probably doesn’t come to mind at first. Financial applications are best known for their cash management accounts or stock and ETF trading capabilities. However, although there is only one Bitcoin, it also offers the possibility of trading cryptocurrencies. Although you can send bitcoins to other users for free, the Cash App charges a so-called “small fee” for coin transactions and discloses this before the transaction. This is in addition to the spread markup built into the trade itself. Unfortunately, it does not reflect the exact cost structure.

Cost: Spread Margin + Trading Fee.

Tradeable coins: Bitcoin only.

At the end of the line

The best crypto app or exchange depends on your needs. If you want to trade a variety of digital currencies, consider an app or exchange that allows you to do so. However, if you want to do the basics like Bitcoin, Ethereum, and so on, most of the platforms mentioned here can work. However, price is also an important factor, so keep that in mind before opening an account.