Luis Pazos 
Deciding to invest in cryptocurrency is just the beginning. You also need to choose the right crypto exchanges and wallets. A crypto wallet stores your private keys, which are essential for keeping your crypto assets safe from hackers and thieves.
You’ll need an exchange that allows you to send and receive crypto, whether you’re aiming to build long-term wealth or make short-term gains. Often, the simplest place to store your crypto is the exchange where you bought it. To help you find the right one, we’ve compared the most popular options. Along the way, we also researched how to avoid crypto scams to prevent financial losses.
The Federal Trade Commission (FTC) warns that the digital form of cryptocurrency means you could lose your assets without much hope of recovery if something goes wrong. This could happen if your exchange platform closes, you send crypto to the wrong person, lose your password, or if your wallet gets stolen.
With that in mind, it’s crucial to choose the right crypto wallet, understand the industry, learn about crypto safety, and be aware of common scams before opening an account.
Important Things to Know About Crypto
Before selecting a crypto exchange or wallet, there are a few key points to understand:
Security: Some exchanges are more prone to hacking and fraud. Always check an exchange’s history and reliability.
Types of Crypto Wallets: Software or "hot" wallets keep your assets online or via a mobile app, while hardware or "cold" wallets store them offline. Each type has its unique features and use cases.
Crypto Exchanges: Unlike wallets, exchanges let you buy, sell, and trade crypto.
Liquidity: Bigger platforms typically make it easier to buy and sell crypto.
Earn Interest: Some exchanges offer interest-earning products on your assets, so look out for those.
Fees: There are costs involved in trading crypto, so compare fees across different platforms.
Insurance: Unlike FDIC insurance for banks, crypto exchanges don’t generally have formal insurance programs. Some offer limited insurance, though.
Our Picks for Best Crypto Exchanges
- Crypto.com: Best for flexibility
- Binance.US: Best for low fees
- Gemini: Best for safety
- Coinbase: Best for liquidity
- KuCoin: Best for altcoins
Best Crypto Exchanges – Company Reviews
Crypto.com offers real-time buying, selling, and storage of crypto assets through its mobile app. You can pay or get paid in various cryptos and even buy NFTs. They also provide an account that helps you earn interest on stablecoins and have a range of crypto credit cards for earning rewards.
Binance.US supports buying, selling, and trading over 50 cryptocurrencies with low fees. It’s user-friendly with advanced features like real-time order books and charting tools. They prioritize security with top-notch storage technology for crypto and USD assets.
Gemini is known for its ease of use and top-tier security, including SOC certifications and substantial insurance for cold storage. They also offer an interest-earning account and a crypto credit card with attractive rewards.
Coinbase allows buying, selling, and trading of hundreds of cryptocurrencies, making it great for experienced traders. They offer a debit card for crypto rewards, educational resources, and tools for learning about Defi and NFTs.
KuCoin is ideal for those interested in a wide range of altcoins. They offer low trading fees and a crypto lending program to earn competitive interest rates. However, it’s not licensed in the U.S., so it’s best for international users.
Crypto Wallet Scams: What to Watch Out For
Cryptocurrency’s digital and private nature makes it attractive but also a target for scams. According to the FTC, transferring crypto directly means there’s no intermediary like a bank to turn to if problems arise. Here are some tips to avoid scams:
- Be wary of anyone guaranteeing you’ll make money or making big claims without proof.
- Don’t trust crypto offers on social media, even from known celebrities.
- Report blackmail scams to the FBI immediately.
- Watch out for romance scams where someone online tries to rope you into crypto investments.
The Bottom Line: Top Crypto Exchanges 2024
The best crypto exchanges facilitate easy trading but differ in fees, features, and supported cryptocurrencies. Compare the listed options to see which one aligns with your needs. Decide where to store your crypto—either online in an exchange or offline in a hardware wallet.
Once you start trading, stay alert to avoid scams. Use multi-factor authentication, secure internet connections, and regularly update your passwords for added protection.
Summary of the Best Crypto Exchanges of 2024
- Crypto.com: Best for flexibility
- Binance.US: Best for low fees
- Gemini: Best for safety
- Coinbase: Best for liquidity
- KuCoin: Best for altcoins
