Reddit is one of the Internet's primary resources for cryptocurrency investors seeking knowledge and advice. In this post, we'll break down the best places to buy crypto (as voted by Redditors), and there's no better place to start than with Reddit's favorite crypto exchange: Kraken.
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- Claim 6-12 free stocks with Webull after depositing $100 or more.
What Are Reddit's Top Crypto Exchange Picks?
Here are Reddit's top picks for the best crypto apps and exchanges:
1. Kraken — Best Overall + $10 Signup Bonus
Best Overall
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Fees: 0.16% |
★★★★★ Rated 4.9/5 |
Based in the United States, Kraken is a highly transparent exchange with a longstanding history of reliability. As one of the largest crypto exchanges in the world, Kraken outperforms smaller exchanges for a number of reasons.
For starters, Kraken's fees are far lower than most other exchanges, with most users paying 0.16% per transaction (fees decrease down to 0% if you trade high volumes). Kraken's spreads are also absurdly low, typically around $0.10 per Bitcoin, which is 0.0003%. Compare that with other exchanges—which routinely charge up to 2% in trading commissions plus an additional 2% or more in spreads—and it's easy to see why Kraken is such a popular exchange.
Kraken also has better customer support than most other exchanges, and is one of the only exchanges out there that still offers telephone support (available in English, French and Spanish). It supports 100+ cryptocurrencies and has a world-class trading platform and mobile app that's powerful yet easy to use.
If that wasn't enough, Kraken's trading platform is professional and robust, offering features like NFT trading, staking and support for a wide range of fiat currencies including USD, EUR, and more.
Overall, Kraken is an excellent fit for many crypto investors because it has lower fees, better support and a better trading platform overall. If you're looking to start trading crypto, we strongly recommend Kraken.
Features
- Extremely low trading commissions (0.16%)
- Extremely low spreads (0.0003%)
- Trade 100+ cryptocurrencies
- Stake 100+ cryptocurrencies
- Simple, intuitive user interface
- Kraken Crypto Watch allows you to keep track of the crypto market
- NFT trading inside the Kraken app
- 24/7 customer support via phone, email and live chat
- Plenty of free educational resources available to users
- 95% cold storage policy
Cost
- Trading Fees: 0.16% (spot trades cost 0.26%)
- Spreads: 0.0003%
- Fiat Deposit Fee: 0%
- Fiat Withdrawal Fee: $0 – $5 USD
Signup Bonus
- $10 when you use our referral link below
Best For
Cryptocurrency investors looking to trade with extremely low fees.
CLAIM MY BONUS
Offer ends December 5, 2023.2. Capital – Best For International Users
Zero Fees
|
Trading fees: 0% |
★★★★★ Rated 4.9/5 |
Capital allows users to trade crypto alongside stocks, commodities, forex, market indices, ETFs and more—all without any trading fees. It supports 100+ cryptocurrencies, and users can trade with 2x leverage on crypto (up to 500x leverage on other assets).
Capital charges a tight spread ranging from 0.1% – 0.3% (depending on the asset), making the overall cost of using the platform (0% trading commissions + 0.1% – 0.3% spreads) very low. It has a fully functional desktop platform, a well-rated mobile app (4.7/5 on Android and iOS), and an excellent demo account where you can practice trading with real assets in real time.
Capital is licensed by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK, which means it’s a safe, secure platform. Every user receives a dedicated account manager they can reach by email or phone anytime, which is part of the reason Capital’s customer support team receives such positive reviews.
Deposits and withdrawals are always free with Capital, and you’ll never pay trading commissions regardless of whether you place spot orders or limit orders. Capital is ISO 27001 certified for meeting robust information security standards, making it an extremely safe platform to trade with.
The biggest drawback of Capital is that it can take several days to have your account verified since their verifications team is overwhelmed with signups right now. If you sign up using my referral link, though, you can skip the waitlist and start trading immediately.
I’ve personally used Capital for more than 4 years, and based on my experiences and those of millions of other users, I can’t recommend it highly enough.Â
Features
- Zero trading commissions
- Tight spreads (0.1% – 0.3%)
- Supports 100+ cryptocurrencies
- Allows up to 500x leverage (2x leverage on crypto)
- Fully functional demo account for paper trading
- Free deposits and withdrawals via debit/credit cards, bank transfer, POLi, PayPal, Apple Pay, etc.
- Dedicated account manager you can reach at any time
- Excellent desktop trading platform
- Well-rated mobile app (4.7/5 on both Apple and Google)
- Licensed by the Australian Securities and Investments Commission (ASIC)
- ISO 27001-certified for meeting extremely high information security standards
Cost
- Trading fees: 0%
- Spreads: 0.1% – 0.3%
- Deposits & Withdrawals: Free
Signup Bonus
Skip the waitlist and have your account approved immediately by using my referral link below.
Best For
Investors looking for the best overall crypto trading experience with no trading commissions.
SIGN UP FOR FREE
Offer ends December 5, 2023.3. Webull — 12 Free Stocks
Best Overall
|
Trading Fees: 0% (Best) |
★★★★★ Rated 4.9/5 |
Webull is our #1-rated crypto platform for Americans, and Reddit agrees. With commission-free trading of cryptocurrencies as well as stocks, ETFs and options, Webull is an all-around investing platform that doesn't disappoint.
Webull supports trading of 44 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Webull also offers fractional shares—which means you can invest in a stock or ETF for as little as $1—and a paper trading account that allows you to practice trading without risking any real money.
New Webull users can get up to 12 free stocks just by opening an account and depositing $100 or more. With such a lucrative signup bonus, Webull is a great way to trade crypto today.
Features
- Commission-free crypto trading
- Fee-free deposits and withdrawals
- Trade crypto, stocks, ETFs, and options all in a single account
- Paper trading account to test out new strategies with fake money
- 24/7 customer support via phone, email and live chat
Signup Bonus
Up to 12 free stocks when you open your account using the link below
Best For
Investors looking for zero fees and a platform that offers both crypto & stocks.
Important: If you've already started opening your Webull account, make sure you restart your application using the link above to get your free stocks.4. Revolut
3 Months Premium
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Trading Fees: 0% |
★★★★ Rated 4.4/5 |
Revolut is another great crypto platform for Americans. If you've already opened a ZenGo account but still want a backup exchange for buying and selling crypto (a wise choice), Revolut is the perfect choice.
Revolut offers commission-free crypto trading on your first $200,000 each month, which means if you trade less than that in a month, you won’t pay any fees. It has a lightning-fast interface within an easy-to-use app that’s used by more than 20 million people around the world.
Revolut supports all the major cryptocurrencies (Bitcoin, Ethereum, etc.) as well as more than 30 fiat currencies, so whether you’re in the US, Europe or anywhere else, it’s easy to exchange your crypto back into the currency you need. Your coins are stored offline for maximum security, and you can set up automatic buy and sell orders for when your favorite coin hits your target price.
As a financial super app, Revolut offers fee-free cash withdrawals across the United States, and enables users to get paid up to two days early* when their salary arrives via direct deposit. You can make 10 zero fee international money transfers each month, while transfers within the US are always free.
New Revolut users can open an account in minutes and start trading crypto immediately. All of the features mentioned here are included in Revolut’s $0 Standard plan, though you can also upgrade to Revolut Premium for overseas medical insurance and airport lounge access ($9.99/month) or Revolut Metal for additional perks such as flight/baggage delay insurance and a unique metal card ($16.99/month).
Features
- Commission-free crypto trading up to $200k per month (1.5% – 2.5% fee above $200k/month)
- Fee-free cash withdrawals at more than 50,000 ATMs across the United States
- Receive your salary up to two days early* when being paid via direct deposit
- 10 zero-fee international money transfers per month
- Unlimited nationwide USD money transfers
- Unlimited virtual cards for maximum online privacy and security
Signup Bonus
3 months of Revolut Premium (worth $30) when you open your account using the link below.
Best For
Investors looking for low fees from a top-rated platform
GET REVOLUT PREMIUM
Valid for 3 months. Expires December 5, 2023*Early Salary is subject to timing and eligibility of payer's submission. Please note that Revolut is frequently updating its products and features, see the Revolut Terms and Conditions for the latest offerings. Revolut is a financial technology company. Banking services provided by Metropolitan Commercial Bank, (Member FDIC). All crypto fees and features are for customers based in the USA only. Revolut’s cryptocurrency services in the US are provided directly by Paxos Trust Company. As a reminder, please note that cryptocurrencies are not FDIC or SIPC Insured and that investments in cryptocurrencies may lose value. Metropolitan Commercial Bank does not hold, trade or sell cryptocurrency and does not provide FDIC Insurance for cryptocurrency funds. Non-fiat funds (i.e. cryptocurrency) are converted to US Dollars before being spent on the Mastercard.
5. ZenGo – Best For Security
Good All-Around
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Account Opening: Free |
★★★★ Rated 4.4/5 |
ZenGo is free to use, which means you get the industry's best security for no cost. Sending and receiving crypto to and from ZenGo is also free, and their 24/7 support team answers most queries in 5 minutes or less.
ZenGo’s proprietary keyless technology means that your crypto is protected by two independently created mathematical secret shares: one that lives on your phone, and another that lives in the cloud. This unique setup means that your coins are always 100% secure, and that you’ll never have any trouble accessing them, even if your phone is lost, stolen, or broken, or if ZenGo (the company) were to go bankrupt, commit fraud, or cease operations for any other reason.
ZenGo supports more than 75 crypto assets, and it takes less than 30 seconds to open your free account.
Overall, ZenGo represents the next generation of crypto: with top-level security inside an easy to use app, ZenGo offers the best of both worlds.
Features
- Supports 75+ crypto assets
- 24/7 customer support
- Extremely well-rated mobile app (4.7/5 on the App Store)
- Face scanning technology for even greater security
- Up to 8% APY in crypto savings
- Cancel or speed up your sent transactions with one tap
- Choose from the 3 network fees modes: economy, regular, and fast (applicable for BTC, ETH, and ERC20)
Cost
- Account Opening: Free
Best For
Crypto investors looking for the most secure trading experience + low fees.
6. VirgoCX – Best In Canada
Solid Option
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Total Fees: ~3.2% |
★★★★ Rated 4.0/5 |
VirgoCX is our top-rated Canadian crypto platform of 2022.
It offers 50+ cryptocurrencies, charges zero trading fees, and only charges spreads around 0.5%, making it the cheapest exchange in Canada by a long shot.
VirgoCX’s trading platform and mobile app are intuitive and easy to use, even for beginners. It offers 24/7 customer support via live chat and email, plus an extensive FAQ section on its site.
VirgoCX charges no deposit or withdrawal fees on fiat and covers the first $6 in mining fees on ERC20 withdrawals. It requires 2-factor authentication on all accounts and maintains a 95% cold storage policy to keep your assets safe at all times.
As a new VirgoCX user, you'll receive a $20 bonus upon funding your account, which you can use to buy Bitcoin, Ethereum, or any of the dozens of assets VirgoCX supports.
All in all, VirgoCX is the crypto platform Canadians love most, and the one that keeps the most money in your pocket. If maximizing your investment potential is important to you, VirgoCX is an excellent choice.
Features
- Lowest fees in all of Canada
- Supports 50+ cryptocurrencies
- Free fiat deposits and withdrawals
- Free deposits and withdrawals on most cryptocurrencies
- 24/7 support available via live chat and email
- User-friendly for both beginners and more advanced traders
- 95% cold storage policy keeps your crypto extra secure
Cost
- Account Opening: Free
- Cash Deposits: Free
- Cash Withdrawals: Free
- Crypto Deposits: Free
- Crypto Withdrawals: Free for all major coins
- Spreads on trades: 0.5%
Signup Bonus
$20 when you fund your account with $100 or more using this link.
Best For
Investors looking for the lowest fees in Canada.
7. CoinSmart – #2 In Canada
Very Secure
|
Total Fees: ~3% |
★★★★ Rated 4.4/5 |
1. CoinSmart is a great second option for Canadians seeking a reliable, trustworthy crypto exchange.
Like Bitbuy, CoinSmart’s trading fees are also low, just 0.2%. They offer excellent customer support available 24/7 via phone, live chat and email, and user accounts are verified instantly.
CoinSmart has been designated a Registered Marketplace by the Ontario Securities Commission (OSC), is registered as a Money Services Business with FINTRAC, and is a member of the anti-money laundering group TRUST, all of which means they’re a highly secure exchange. They maintain a 95% cold storage policy, and as a publicly-traded company, their financials are audited by a third-party firm at least once per year.
As a new CoinSmart user, you’ll receive a $50 bonus upon funding your account, which you can use to buy Bitcoin, Ethereum, or any of the 16 assets CoinSmart supports. If you’re looking for a highly secure, reputable crypto platform, CoinSmart is an excellent choice.
Features
- Extremely low trading fees (0.2%)
- 24/7 customer support available via phone, live chat or email
- Instant account verification
- Supports 16 cryptocurrencies
- Registered Marketplace by the OSC
- Immediate deposits and withdrawals
- User-friendly for both beginners and advanced traders
- 95% cold storage policy keeps your crypto extra secure
Cost
- Account Opening: Free
- Trading Fees: 0.2%
- INTERAC Deposit: 0%
- Bank Wire Deposit: 0%
- Bank Wire Withdrawal: 1%
- EFT Withdrawal: 1%
Signup Bonus
$50 bonus when you sign up using this link and our promo code YOREOYSTER.
Best For
Investors looking to trade with low trading fees.
What Is The Best Crypto Wallet According To Reddit?
Here are Reddit's top three picks for the best crypto wallets:
1. ZenGo — Best Overall
Zengo is both a crypto exchange and a crypto wallet, offering a unique combination of features that make it a great choice for both beginners and experienced crypto investors. ZenGo is easy to use, highly secure, and free to use, making it an excellent #1 choice for the top crypto wallet on Reddit.
2. Ledger Nano X
The Ledger Nano X is the OG of crypto wallets, and Reddit loves it. It's been around for years, and the company's strong reputation and commitment to keeping its users' assets safe have secured it as one of Reddit's all-time favourite wallets. You can get a Ledger Nano X of your own here.
3. Trezor Model T
Like the Ledger Nano X, the Trezor Model T has been around for a while, serving millions of users at this point. It's a cheaper hardware alternative to the Ledger Nano X, and Redditors have been singing its praises for years.
In Summary
- Claim a $15 signup bonus with TopCashback after your first purchase.
- Claim a $50 bonus + 6-16 free stocks with Moomoo after depositing $100 or more.
- Claim 6-12 free stocks with Webull after depositing $100 or more.
Reddit Crypto FAQs
What's the best place to buy crypto, as voted by Redditors?
Redditors generally agree that the best platform for buying crypto is Kraken, due to its extremely low trading fees, tight spreads and excellent customer support. Reddit users also like that they're fully secure storing their crypto inside Kraken's platform, since it offers top-notch security for your investments.
What's the best crypto exchange for day trading on Reddit?
Reddit's favorite crypto exchange for day trading is Kraken, because they charge extremely low trading fees and have tight spreads that maximize profits for day traders. For those outside the United States, the favorite platform is Capital, though if you're in Canada, it's either Kraken or Bitbuy.
What's the best crypto app on Reddit?
The best crypto app, as voted by Redditors, is either Kraken or Capital, both of which are well-rated on both the App Store and Play Store. Both apps are highly functional, allowing users to place advanced trades (including limit orders, stop orders and more), and they have sleek, user-friendly designs that are easy to use for both beginners and advanced traders.
What's the best crypto app for beginners on Reddit?
The best crypto app for beginners on Reddit is one of Capital, Webull or Kraken, depending on what geography you're in: if you're in the US, it's Kraken or Webull, and if you're in the rest of the world, it's Capital. Both the Capital and Webull apps, for example, are rated 4.7/5 on iOS and 4.5/5 on Android.
What's the best crypto exchange in Canada on Reddit In 2023?
The best crypto exchange in Canada on Reddit is Kraken due to its extremely low trading fees and excellent customer support. The general sentiment on Reddit toward Kraken is very positive, and it's our #1-rated exchange in Canada, too.
What's the best US crypto exchange on Reddit in 2023?
Redditors generally agree that the best crypto exchange for Americans in 2023 is Kraken, both for its large selection of coins and its highly favorable fee structure.
What's the lowest fee crypto exchange on Reddit?
The crypto exchange with the lowest fees on Reddit is either Webull or Capital, since both don't charge any trading fees and have very tight spreads. If you're in Canada, you should use Kraken or Bitbuy instead.
What's the best altcoin trading platform on Reddit?
Reddit's top pick for the best altcoin trading platform is one of Kraken or Capital. Both platforms support dozens of cryptocurrencies, so if you're looking to invest in a new altcoin before it goes mainstream, any of these exchanges are a good choice.
