nvesting in Bitcoin is all the rage but how exactly does a beginner get started?
Do you need to already have Bitcoin to invest?
Or do you transfer money from your bank account to somewhere and convert it to Bitcoin? What does that look like?
We’ll answer all of these questions and list 10 of the best cryptocurrency exchanges and platforms that allow you to buy Bitcoin and other tokens.
Going forward, we’ll use BTC, which is the symbol for Bitcoin on exchanges and trading platforms.
If you just want to earn a high return with crypto, you might consider a crypto savings account. These accounts pay up to 12%, but do come with risks (just like regular crypto investing).
Editor’s Picks For Best Crypto Exchanges:
- Best Overall: Coinbase
- Best For Trading: Binance
- Best To Earn Interest: BlockFi
- Best For Altcoins: Uphold
Top 10 Bitcoin and Cryptocurrency Exchanges
7. Bitcoin IRA
Best Crypto Exchanges and Investing Platforms
Here is our list of the 10 best cryptocurrency exchanges and investing or trading platforms. The cyrpto offers that appear on this site are from companies from which The College Investor receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The College Investor does not include all cryptocurrency exchanges or all crypto offers available in the marketplace.
Coinbase is by far the most popular and one of the best cryptocurrency exchanges because you can invest directly with USD. You can currently purchase Bitcoin, Ethereum, and Litecoin and 30+ other coins and tokens on the platform. Furthermore, you can earn interest on your USDT, and you can earn token rewards by completing various activities.
Plus, when you open a new Coinbase account, you get a $10 bonus for getting started using our link and promo code (COLLEGE10)*!
- Easiest to use interface
- Good selection of tokens and coins to invest in
- High level of security and trustworthiness
- High fees unless using Coinbase Pro
- User does not control private keys in wallet
- Slow to adopt popular new cryptocurrencies
Voyager is a popular platform to invest in crypto as it was one of the first publicly traded exchanges. They are app-driven and offer a commission-free trading structure.
Voyager supports most major cryptocurrencies, has solid support and engagement, and pays competitive interest rates on assets.
Plus, when you open a Voyager account, you can earn $25 in BTC after trading $100 in crypto.
- Very easy to use app-based interface
- Commission-free trading structure
- Voyager provides solid interest rates
- Slow withdrawals (can take upwards of 1 day)
- Not available in New York (yet)
BlockFi is a cryptocurrency investment platform that allows you to lend and earn interest on your holdings. Also, instead of selling your coins and tokens, you can also borrow against your holdings.
If you’re just looking to hold your tokens, you can also just let them earn interest for you.
Bonus Offer: Get up to $250 bonus when you make a $25 deposit and maintain it for the specified period of time.
- No commissions and fees
- US-Based and regulated
- Earn high interest on deposits
- Doesn’t support many tokens and coins
- Limited free withdrawals
Uphold offers simple solution to trading multiple assets — open one account and trade multiple assets without making a trip back to cash. If you’ve every traded crypto, you’ll know a lot of coins and tokens only trade in certain pairs, so you’re always going back to BTC or ETH. But on Uphold, you can trade multiple assets directly.
Plus, Uphold is one of the few exchanges that allows you to trade XRP, DOGE, and more.
- Simple and transparent pricing structure
- Lot’s of crypto tokens and even some stocks, including popular ones like XRP
- Both desktop and mobile apps
- Not as easy to use as some on this list
- Some reports of poor customer service
Kraken is one of the original crypto trading platforms and they have a good selection of coins and tokens to trade and invest in. They also allow margin trading. However, it’s a real exchange, and not as easy to use as some of the top platforms on this list.
Kraken is one of the few platforms on this list that allow you to trade in DOGE and other, more risky, tokens.
Note: Kraken offers a limited section of coins and tokens to US customers versus international customers.
- One of the longest running crypto exchanges
- High level of security and trust
- Large variety of crypto and tokens to trade
- One of the more difficult platforms to use
- Difficulty with 2FA
- Some reports of poor customer service