![]() Some crypto enthusiasts object to centralized exchanges because they go against the decentralized ethos of cryptocurrency. The vast majority of crypto trading take place on centralized exchanges. Centralized exchanges make it easy to get started with cryptocurrency trading by allowing users to convert their fiat currency, like dollars, directly into crypto. Centralized ExchangesĬentralized crypto exchanges (CEX) are managed by one organization. Each category comes with its own advantages and disadvantages. To learn more about our rating and review methodology and editorial process, check out our guide on How Forbes Advisor Rates Investing Products.īroadly speaking, there are two categories of crypto exchanges: centralized exchanges and decentralized exchanges. Margin trading, platform lending and advanced trading were not considered for choosing the best crypto exchanges for beginners. These ten variables benchmark features and options across the crypto exchanges and brokerages we surveyed.įor each ranking, the sum of weighted values across all or some of these key factors was calculated to award each brokerage or exchange its overall rank. Some crypto exchanges allow users to lend out their cryptocurrency. Some platforms allow users to stake selected cryptos and earn interest payments. Types of storage options, security and insurance available, plus an assessment of any large-scale hacks of each exchange over its lifetime. A few platforms offer crypto rewards credit cards. We evaluated the educational content offered by each platform. While some of the best crypto exchanges are available everywhere, others have widely varying degrees of accessibility to different features by country and by U.S.
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