Over the past few years, the popularity of cryptocurrency has skyrocketed, but only a small percentage of Americans have actually engaged in trading it. Bitcoin, Ethereum, and Cardano are among the most sought-after cryptocurrencies, experiencing significant price fluctuations that attract traders looking to capitalize on the volatility of these speculative assets.
Accessing cryptocurrencies for trading has become increasingly convenient with the emergence of new exchanges and trading platforms. You may already have trading capability on apps like PayPal or Venmo, allowing you to buy and sell a few select cryptocurrencies. However, there are other apps and exchanges that offer a wider range of cryptocurrencies and additional benefits such as lower fees.
Below are some of the leading apps and exchanges for cryptocurrency trading, along with key details you should be aware of:
Top apps and exchanges for cryptocurrency trading in September 2024
These platforms encompass specialized crypto exchanges, online brokers, and payment apps. We’ve outlined pricing and the number of coins available for trading to give you an overview of each platform’s scope.
If you’re interested in exclusively trading Bitcoin, a platform with a variety of other coins may not be the best fit. Conversely, if you’re looking to trade a diverse selection of cryptocurrencies, consider an app or exchange with more options.
Binance.US
Binance.US, the American division of Binance, stands out as a top crypto exchange due to its low trading costs. Bitcoin traders can enjoy commission-free trades, while other coins are priced on a sliding scale for high-volume traders. Additionally, using Binance’s native coin, BNB, to pay trading fees grants a 5 percent discount.
With over 150 different cryptocurrencies available for trading on Binance, finding your preferred coins should be a breeze, especially if you’re focusing on the most popular options.
In June 2023, the SEC filed a lawsuit against Binance, alleging illegal operations as an exchange, broker-dealer, and clearing agency, as well as the offering of unregistered securities. Subsequently, in November 2023, Binance and its founder pleaded guilty to federal charges and agreed to hefty fines.
- Cost: Free for Bitcoin, with fees starting at 0.10 percent for less-common coins and decreasing for high-volume traders. 5 percent discount available for BNB fee payments.
- Coins available to trade: Over 150, including Bitcoin, Ethereum, Solana, and Cardano
Editorial Disclaimer: Prior performance of investment products does not guarantee future price appreciation. Investors are advised to conduct independent research on investment strategies before making decisions.