Cryptocurrency exchanges are marketplaces that allow anyone to buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin. These are essentially similar to any other trading platform in that you need to create an account to get started. An active account holder can use any of the supported fiat currencies to purchase their preferred cryptocurrency.

Since cryptocurrency trading has become the buzzword of late, there are numerous cryptocurrency exchanges to choose from. These differ in the number of currencies supported, trading fees, security, and ease of use, among other aspects. It can be tricky to choose the right crypto exchange for your needs, but we’re here to help. Here are the top 5 cryptocurrency exchanges you can try this year.

currency basis:

base of coins it is one of the most well-known crypto exchanges out there. It is home to around a hundred cryptocurrencies, including all the major ones. It is specifically good for beginners as it has an intuitive interface that is easy to navigate. It even has educational material for newbies to learn how to trade cryptocurrencies. But if you want advanced features, it has a special version called Coinbase Pro.

In terms of security, it offers two-factor authentication (2FA) on all versions and stores the vast majority of digital assets in secure offline storage. It also has an insurance policy where cryptocurrency holdings of up to $250,000 are protected under FDIC guidelines. However, its fee structure makes it expensive as far as crypto exchanges are concerned. The exact fee depends on many factors, including the type of transaction, location, and payment method. The minimum trade value on the platform is $2.

Crypto.com:

crypto.com it is one of the largest crypto exchanges in terms of supported cryptocurrencies. It claims to have listings of over 250 cryptos. Also, it has compatibility with more than 20 fiat currencies that can be used for buying and selling.

Your fees are lower if you fund your account with cash transfers. However, it does not support crypto-to-crypto trading. It has a Visa metal card that can be used to receive an 8% cash back on all expenses. The company claims that all users’ cryptocurrencies are stored in offline cold storage. It also offers insurance on USD balances up to $250,000 according to the FDIC.

Gemini:

Gemini is another crypto exchange that not only caters to experienced traders but beginners as well. Its user-friendly interface makes it easy to understand what’s going on, as well as to buy and sell. There are over 40 cryptocurrencies to choose from.

One of the things that makes it special is that it is available in every state in the United States. It offers two-factor authentication and also supports hardware security keys. It has a number of other security measures in place, including annual penetration tests conducted by independent third parties. Their fees may turn out to be slightly higher compared to other exchanges.

eToro:

eToro it has support for less than 20 cryptocurrencies, making it the smallest crypto exchange on this list. The good thing is that it is compatible with the two most popular ones, that is, Bitcoin and Ethereum. It is available in all states except Delaware, Hawaii, Minnesota, Nevada, New Hampshire, New York, and Tennessee.

It provides users with a virtual wallet to practice cryptocurrency trading before they decide to spend their own real money. This is specifically beneficial for new traders. It has another feature called Social Trading where users can choose to copy the moves of popular traders in their respective portfolios.

Binance.US:

Binance.US is a US-regulated crypto exchange division of the world-renowned exchange Binance. It supports more than 60 cryptocurrencies, including all the major ones. The biggest USP of the platform is its affordable trading fee which is 0.1%.

Also, it provides educational tutorials for beginners, but it is not as comprehensive as the global platform. One thing to note is that it is not available in the following states: Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, and Vermont.