8 Best Crypto Exchanges and Apps of October 2022

Cryptocurrency trading has exploded in popularity, largely due to the rise in value and popularity of cryptocurrencies themselves. And while it can be intimidating at first, and although scams have occurred and continue to happen, today’s best crypto apps, exchanges and platforms make buying and selling crypto simpler and clearer than it has been before.

There are several ways and places to invest in cryptocurrency. Our list considers crypto exchanges, platforms and online brokers that offer crypto, as well as cash and payment apps that let you buy and sell Bitcoin. Even those familiar with more traditional investing platforms should be mindful that crypto often comes with different fee structures, narrower customer service options and an increased role for the investor in security.

Best Crypto Exchanges and Apps

Broker	NerdWallet rating	Fees	Account minimum	Promotion	Learn more
Robinhood Crypto	3.5 /5 Best for online brokers	$0 per trade	$0	None no promotion available at this time	LEARN MORE on Robinhood’s website
Webull Crypto	3.5 /5 Best for online brokers	$0 per trade	$0	Get $5 in Crypto after opening a Webull account, activating crypto trading, and completing 1 crypto trade before 10/31/2022.	LEARN MORE on Webull’s website
TradeStation Crypto	4.5 /5 Best for online brokers	0.30% or lower for larger balances	$0	Get $150 in Bitcoin when you purchase or deposit $500 in Crypto. Offer Code: NERDAGCT.	LEARN MORE on TradeStation’s website
eToro	4.0 /5 Best for crypto exchanges	1% for cryptocurrency	$10	Get an 8% Bonus when you deposit at least $50. Earn more when you deposit more. (U.S. only).	LEARN MORE on eToro’s website
Binance.US	4.5 /5 Best for crypto exchanges	0.1%-5% depending on payment method	$10	None no promotion available at this time	READ REVIEW

crypto exchanges

eToro

NerdWallet rating

4.0

/5

LEARN MORE

on eToro’s website

Fees

1%

for cryptocurrency

Account minimum

$10

Promotion

Get an 8% Bonus

when you deposit at least $50. Earn more when you deposit more. (U.S. only).

Our Take

Want to compare more options? Here are our other top picks:

• Binance.US

• Kraken

• Crypto.com

• BlockFi

• Gemini

• Coinbase

• FTX.US

Buying crypto within cash and payment apps

A number of cash and peer-to-peer payment apps now allow users to buy and sell Bitcoin. On balance, these apps are more limited in what they offer than the exchanges and brokers above.

CashApp

CashApp, a peer-to-peer money transfer system run by Square, allows users to purchase and sell Bitcoin. Unlike other cash apps noted here, Cash App allows users to transfer their Bitcoin to their own cryptocurrency wallet. Cash App charges a fee depending on price volatility and market trading volume, which it reveals at the time of purchase.

Cash App limits Bitcoin withdrawals up to $7,500 within any seven-day period.

PayPal

PayPal allows users to purchase and sell Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Fees include an estimated 0.5% trading fee (this may vary depending on market conditions) and a tiered transaction fee that amounts to $2.49 for $200 in Bitcoin.

PayPal allows purchases to be made with crypto where available, but you will need to pay taxes on the sale of Bitcoin on top of any taxes related to the purchase of the goods or service.

Venmo

Venmo also offers Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Venmo, which is owned by the same company as PayPal, has a similar fee structure: estimated 0.5% trading cost, with a fee structure that amounts to $2.49 on a $200 purchase.

Methodology

How do we review cryptocurrency platforms?

NerdWallet’s comprehensive review process evaluates and ranks platforms and companies that allow U.S. customers to buy and/or sell cryptocurrency. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

For more details about the categories considered when rating brokers and our process, read our full methodology.

To recap our selections…

NerdWallet’s Best Crypto Exchanges and Apps of October 2022

• Robinhood Crypto: Best for online brokers
• Webull Crypto: Best for online brokers
• TradeStation Crypto: Best for online brokers
• eToro: Best for crypto exchanges
• Binance.US: Best for crypto exchanges
• Kraken: Best for crypto exchanges
• Crypto.com: Best for crypto exchanges
• BlockFi: Best for crypto exchanges
• Gemini: Best for crypto exchanges
• Coinbase: Best for crypto exchanges
• FTX.US: Best for crypto exchanges

Frequently asked questions

How is investing in crypto different from investing in stocks?

Trading cryptocurrencies is different from traditional investing in several ways. A few examples:

• Compared to traditional investing, which has seen fees steadily decline in recent years, trading in cryptocurrencies costs much more. For example, depending on the method of payment you could pay 5% or more in fees when trading Bitcoin. Most online brokers no longer charge a commission to trade stocks.

• Crypto is still a relatively new and burgeoning industry, and customer service has lagged behind what’s available at traditional brokerages. Want to speak to a person concerning questions or account issues at crypto exchange? Most pure crypto exchanges don’t offer that service.

• You have more responsibility for protecting your crypto from theft with cryptocurrency exchanges, especially if you use your own digital wallet. While exchanges protect you from losses due to sitewide hacks, you won’t be protected from individual attacks on your account — for example, a phishing email attack in which you unwittingly reveal your passwords to cybercriminals.