The 5 best cryptocurrency apps and exchanges for February 2023

The 5 best cryptocurrency apps and exchanges for February 2023

The 5 best cryptocurrency apps and exchanges for February 2023

There may be all the time some degree of threat assumed while you determine to take a position your cash, however a key means consultants advocate mitigating that threat is to not put your entire eggs in a single basket. Briefly: Investing in a number of totally different asset courses might help you keep the course when a few of your investments aren’t doing as effectively. Cryptocurrency remains to be considerably of a beginner within the investing world, however many buyers have added it to their arsenal and due to digital crypto exchanges and apps, you may too. 

However the place do you begin and the way do you select a crypto trade or funding platform? 

To assist make your resolution a bit of simpler, the Fortune RecommendsTM editorial workforce a number of well-liked cryptocurrency apps and exchanges. We weighed account minimums, the variety of cryptocurrencies out there to put money into, exterior pockets assist, margin buying and selling and staking and rewards-earning alternatives, academic sources, cellular app rankings, and customer support choices. (Learn our full methodology right here.)

  2. Uphold 
  3. Coinbase 
  4. Binance 
  5. Gemini

The 5 finest crypto exchanges and apps of February 2023 

Right here’s our rundown of the highest 5 crypto apps and exchanges, together with the important thing figures you must know earlier than you make investments. (Observe: Minimal deposit necessities, charges, and different numbers in our listing are updated as of Feb. 15, 2023, and are topic to vary.) 


About: was based in 2016 and at present serves greater than 80 million customers worldwide. By means of its in depth on-line buying and selling platform, buyers have the chance to securely purchase and promote greater than 250 cryptocurrencies and over 20 fiat currencies. 

Account minimal: $1

Charges: 0%–0.0750% relying on 30D Spot Buying and selling Quantity (USD)

Cell app ranking: 4.5

Buyer assist: provides buyer assist by way of on-line chat via the platform’s web site. 

Our verdict: Good for buyers who need a one-stop crypto store. took the highest spot on our listing for its huge cryptocurrency choices and companies. Along with its rising listing of cash, can also be one in every of a handful of exchanges that provides margin buying and selling (though it’s not at present out there to U.S. prospects). does provide pockets assist and permits customers to attach a number of digital wallets to its platform along with its DeFi pockets—a non-custodial pockets that offers buyers full management over their crypto and keys. Crypto buyers can even earn rewards on the platform by holding a sure stability of their trade pockets. 

2. Uphold 

About: Uphold first launched in 2015 and at present serves greater than 184 international locations all over the world, throughout greater than 200 conventional currencies, cryptocurrencies, and commodities. The trade at present serves over 10 million customers in 150 international locations worldwide. 

Account minimal: $0

Charges: 0.9–1.2% on BTC and ETH, unfold will differ relying on particular token 

Cell app ranking: 4.6

Buyer assist: Uphold prospects can attain a member of the assist workforce by filling out a request kind on the platform’s web site. 

Our verdict: Good for individuals who need a variety of crypto choices.

Uphold took the second spot on our listing for its spectacular menu of crypto cash—which at present sits at over 250 totally different cryptocurrencies and stablecoins. For an added bonus: buyers can even dabble in nationwide currencies and valuable metals. What’s extra—Uphold helps exterior wallets, giving buyers the facility over their very own personal keys. 

3. Coinbase 

About: Coinbase was first launched in 2012 and has grown to host roughly 108 million verified customers in over 100 international locations across the globe. The platform provides 248 totally different cryptocurrencies, in addition to entry to NFTs and a Coinbase card to earn crypto rewards. 

Account minimal: $2

Charges:  1% transaction price on all cryptocurrency transactions

Cell app ranking:  4.4

Buyer assist: Customer support is out there by way of 24/7 cellphone assist, stay chat assist, and e-mail by submitting a request kind on the Coinbase web site. 

Our verdict: Good for buyers preferring further customer support choices.

Coinbase took the third spot on our listing for its stellar customer support choices and low account minimal. What’s extra, this trade additionally provides a self-custody pockets that offers you full management of your crypto and the chance to earn rewards by watching academic movies about crypto and finishing brief quizzes on the fabric. 

4. Binance 

About: Binance is presumably some of the well-known crypto exchanges. Based in 2017, the trade now provides over 150 cryptocurrencies out there for commerce and over 1.4 million transactions per second.  

Account minimal: $0

Buying and selling charges: 0%–0.1000% relying on buying and selling quantity, kind of consumer, and account stability 

Cell app ranking: 4.5

Buyer assist: Customer support representatives can be found by way of 24/7 automated chat and customers can even fill out a request on the web site for e-mail assist. 

Our verdict: Good for newcomers.

Binance took the fourth spot on our listing for its studying hub—Binance Academy. For brand new buyers trying to be taught extra about how cryptocurrency works, what blockchain know-how is, and learn how to higher inform their very own buying and selling technique, this hub gives them with numerous articles and programs to assist them hit the bottom operating. And, for buyers trying to enhance their shopping for energy, Binance provides margin buying and selling. The draw back: Sadly, Binance accounts usually are not at present out there to customers in Hawaii, New York, Texas, or Vermont.

5. Gemini 

About: Gemini first appeared within the crypto area within the 2010s. Aside from its trade which supplies buyers the chance to purchase, promote and maintain greater than 90 cryptocurrencies, customers can even purchase and promote non-fungible tokens (NFTs), and earn crypto rewards with a Gemini bank card. 

Account minimal: $0

Buying and selling charges: 0%–0.40% relying on 30-day buying and selling quantity 

Cell app ranking: 4.6

Buyer assist: Gemini provides automated chat assist, in addition to a kind on its web site to request e-mail assist. 

Our verdict: Good for individuals who love a freebie.

Gemini made our listing for its rewards alternatives and its respectable cellular app ranking. Along with the wide selection of cryptocurrencies out there on this trade, customers can earn crypto rewards with each buy made utilizing the Gemini bank card. Customers can even earn as much as 4.83% APY by staking their crypto. 

How to decide on a crypto app or trade

Cryptocurrency exchanges perform equally to inventory exchanges in that they supply buyers with a platform to purchase and promote cryptocurrencies. There are numerous exchanges in existence, and the vary of cryptocurrencies out there on every varies from only a handful of cryptocurrencies to over 1,000 on some platforms. 

There are a number of methods you may weed out apps or exchanges you’re contemplating. A couple of key elements to contemplate could embrace: 

  1. Availability in your state or nation: Not all platforms can be found to buyers in each state or nation. Sure platforms could prohibit buyers in sure states from creating an account, buying and selling a sure asset, or benefiting from services or products like margin accounts. Whenever you’re contemplating your choices, just be sure you’re eligible to create an account primarily based in your location. 
  2. Buying and selling or transaction charges: Most cryptocurrency exchanges cost a price for every crypto commerce (these charges can differ relying on whether or not you’re buying or promoting your crypto). Should you’re an energetic dealer who anticipates frequent transactions, you would possibly profit extra from an trade that costs minimal charges or doesn’t cost charges in any respect.
  3. The minimal quantity wanted to open an account: Should you’re a brand new investor or simply on the fence about including crypto to your portfolio, you is probably not prepared to take a position a ton upfront. Learn the high-quality print to find out how a lot it’s worthwhile to open an account and begin buying and selling crypto and if it’s an quantity you’re comfy with. 
  4. Storage: When deciding on an trade, you’ll additionally wish to know the way and the place your cryptocurrency can be saved. The 2 foremost kinds of storage are custodial and non-custodial wallets. A custodial pockets shops your crypto for you and holds the personal key wanted to entry it. With a non-custodial pockets, you’ll have full management over your personal key and if one thing occurs to your crypto otherwise you neglect your key, it’s on you. 
  5. Academic sources: For skilled buyers, academic instruments and webinars is probably not vital, however brushing up in your data about what’s occurring within the crypto world may show you how to make extra knowledgeable selections about your holdings. And should you’re new to crypto, having academic sources at your disposal may make issues simpler to know. 
  6. Customer support choices: Many cryptocurrency apps and exchanges have restricted customer support choices and infrequently resort to speak or email-only customer support choices. This can be the popular avenue for some buyers, however should you favor to get a human on the cellphone, you’ll must make it possible for the app or trade you’re contemplating provides extra than simply automated assist and repair hours that align along with your schedule.

Regularly requested questions

Does the Federal Reserve regulate cryptocurrency?

No. Cryptocurrency is just not backed by the federal government or insured in the identical means deposits are insured by the Federal Deposit Insurance coverage Company (FDIC) or the Nationwide Credit score Union Affiliation (NCUA). The federal government is just not answerable for any misplaced funds. 

What’s the distinction between a centralized and decentralized trade?

The distinction between every kind of trade comes all the way down to how cryptocurrency is being bought and offered. In a centralized trade, the trade serves as a middle-man between consumers and sellers to facilitate transactions, much like a standard inventory trade. Decentralized exchanges perform as a market the place consumers and sellers execute peer-to-peer trades, with out the necessity for a middle-man. 

Is crypto taxed? 

Sure. Within the eyes of the IRS, cryptocurrency is handled as property and it turns into taxable while you promote it, spend it, trade it for one more cryptocurrency or are paid with it.

Our methodology 

The Fortune RecommendsTM workforce in contrast 13 cryptocurrency apps and exchanges that can assist you discover one of the best platform to your wants. Our prime picks can be found to prospects in most U.S. states, topic to the phrases of account, product, and repair. To provide you with our remaining listing, we we ranked one of the best apps and exchanges on the next classes and weighted every class as set forth within the percentages beneath:

  • Variety of cryptocurrencies out there (30%): We weighed the variety of cryptocurrencies out there on every platform and rewarded apps and exchanges with a wider choice. Our level system is as follows:
    • 1–49 cryptocurrencies: 1 level
    • 50–100 cryptocurrencies: 2 factors
    • 101–200 cryptocurrencies: 3 factors
    • 201–250 cryptocurrencies: 4 factors
    • 250+ cryptocurrencies: 5 factors
  • Account minimal (20%):  In an effort to open an account, many apps and exchanges would require that you simply deposit a minimal greenback quantity. We rated platforms with $0 or decrease account minimums greater on our listing. 
  • Pockets assist (15%): We rewarded apps and exchanges that give buyers the choice to retailer crypto in an exterior pockets.
  • Margin buying and selling (10%): Margin buying and selling, also called leveraged buying and selling, refers to creating bets on crypto markets with borrowed funds. We favored apps and exchanges that gave buyers the choice to spice up their buying energy. 
  • Staking or rewards (10%): We gave apps and exchanges one level for providing staking or rewards-earning alternatives. Staking provides buyers the power to earn passive earnings by utilizing their present crypto to validate blockchain community transactions.
  • Academic sources (5%): Apps and exchanges that supplied academic assist for buyers akin to articles, movies, webinars, funding planning instruments and calculators, and different sources ranked greater on our listing in contrast to people who don’t. 
  • Cell utility ranking (5%): We calculated the typical cellular utility ranking for every financial institution or credit score union utilizing rankings from the App Retailer and Google Play. We rewarded on-line banks that had the next common cellular utility ranking.  
  • Customer support (5%): High picks provide prospects 3 ways to get in touch: chat assist, by cellphone, and even e-mail. Among the many three choices, we gave cellphone assist probably the most weight.

We predict that one of the best apps and exchanges provide a variety of cryptocurrencies, low or zero account minimums, the power to switch crypto to exterior wallets, margin buying and selling, staking or rewards alternatives, academic sources or studying hubs, a extremely charges cellular app, and numerous customer support choices. The necessities, charges, and rewards supplied by these apps and exchanges could also be out there for restricted time durations.

2 thoughts on “The 5 best cryptocurrency apps and exchanges for February 2023

  1. Pingback: Bilad Alrafidain

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top