5 Best Crypto Exchanges Reddit Loves To Use (May 2022)

February 13, 2022
Blog

Reddit is a popular site for people interested in cryptocurrency trading. With so much yet to be learned about cryptocurrency trading and the market rapidly changing, Reddit stands out as a go-to resource for cryptocurrency knowledge and assistance. In this post, we’ll discuss the best crypto exchanges Redditors love, based on their reviews.

The best cryptocurrency exchange based on Redditor reviews is Newton, the Canadian exchange platform. It’s a user-friendly platform with no fees and support for 10 different cryptocurrencies and stablecoins, such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).

Special Offer

Ends April 15, 2022

From now until April 15, 2022, we’re offering $5 in free Bitcoin to anyone who opens a new crypto wallet with ZenGo. Here’s how to take advantage of this special, limited-time offer:
  1. Open an account with ZenGo. It takes less than 5 minutes to open an account—just make sure to use our special signup link so you’re eligible for the bonus.
  2. Once your account is set up, send me an email with the following info and I’ll send you $5 in Bitcoin for free:
    • The time and date you signed up for ZenGo, including your timezone (EST, PST, etc.)
    • The country you’re in
    • A screenshot of your ZenGo receiving wallet address. You can find your receiving address by going to Actions -> Receive -> Bitcoin. Take a screenshot of the QR code.
You’ll receive a transfer of $5 in free Bitcoin within 24 hours of sending the email. This promotion is limited to the first 500 people who sign up, so make sure to email me as soon as you open your account.

What Are Reddit’s Top Crypto Exchange Picks?

Here are Reddit’s top picks for the best crypto apps and exchanges:

1. Newton

Newton is a cryptocurrency exchange located in Toronto, Canada. It was established in 2018 and offers one of the most comprehensive arrays of supported cryptocurrencies.

There are additional characteristics that distinguish this crypto exchange from the competition: for example, it has zero trading fees, third-party custody, immediate account verification, and competitive spreads that benefit cryptocurrency day traders. They also provide frequent offline site backups, cutting-edge data storage software for digital assets, and direct bank integration.

Features

  • Zero trading fees
  • Third-party custody
  • Competitive spreads
  • Highly-rated mobile app
  • Wide array of supported cryptocurrencies
  • Immediate account verification

Cost

  • Trading fees: None
  • Bid-ask spread: From 0.5% to 0.7%

Signup Bonus

$25 free when you sign up using this link.

Best For

Crypto investors that are interested in an exchange that allows them to trade rare/uncommon altcoins with no trading fees.

2. Kraken

Kraken is a cryptocurrency exchange and bank originally founded in 2011. It’s located in the United States (specifically San Francisco), and it enables you to trade fiat currencies like USD for cryptocurrencies and vice-versa. It also allows you to trade one type of cryptocurrency for another.

The exchange provides price data for digital assets to the Bloomberg Terminal, and you can create an account through the exchange anywhere in the world except for Cuba, Iran, and North Korea, making it one of the more global exchanges today.

Features

  • Very wide range of supported crypto (90+)
  • Simple and intuitive user interface
  • Kraken Crypto Watch feature that allows you to keep track of the crypto market
  • A plethora of information and educational resources on crypto for its users
  • 24/7 customer support through a variety of methods

Cost

  • Trading fees: Between 0% and 0.26% per trade
  • Crypto credit card purchases: 3.75% + €0.25
  • ACH crypto purchases: 1.5%

Best For

Cryptocurrency investors looking for an exchange with a wide array of supported altcoins and stablecoins.

3. Binance

Binance is an international cryptocurrency exchange that currently serves as the world’s largest crypto trading platform by volume of daily trading. It began operations in 2017 and is now headquartered in the Cayman Islands.

Binance was founded in Hong Kong but later moved its headquarters overseas due to increased government intervention in cryptocurrencies. It has several notable characteristics, including powerful charting tools and access to the Binance Earn feature, as well as a Binance Visa Card.

Features

  • The largest array of supported cryptocurrencies (300+)
  • Wide array of supported fiat currencies (50+)
  • Binance Earn feature
  • Binance Visa Card
  • Advanced charting tools
  • Earn lower fees by using the exchange’s native currency (Binance Coin)

Cost

  • Crypto deposit fees: Free
  • Fiat deposit fees: From 0% to 3.5%
  • Crypto withdrawal fees: From 0% to 2,5%
  • Taker fees: From 0.04 to 0.1%
  • Maker fees: From 0.02 to 0.1%
  • Futures trading maker fees: 0.02%
  • Futures trading taker fees: 0.04%
  • Instant buy/sell trade fees: 0.5%
  • Debit/credit card purchases: 4.5%

Best For

International cryptocurrency investors that are interested in investing in rare or relatively unknown altcoins.

4. Coinbase

coinbase canada review

Coinbase is an American cryptocurrency exchange that was originally founded in 2012. It’s based in San Francisco and it’s one of the oldest cryptocurrency exchanges in the world. It’s also the second-largest crypto exchange in the world, the first being Binance.

It was designed to be one of the easiest places to buy, sell, and trade cryptocurrency, and it serves retail investors, businesses, and institutions alike. Originally, it only supported Bitcoin, but it now supports a wider array of digital assets.

Features

  • A wide arrange of supported cryptocurrencies (100+)
  • Coinbase Pro, the premium service of the platform
  • Coinbase Earn, a bundle of learning resources and tools ideal for beginners
  • Coinbase Wallet app that allows you to store your cryptocurrencies safely
  • 98% cold storage policy to keep your funds secure
  • Insurance for hacked funds

Cost

  • Bank account fee: 1.49%
  • Debit or credit card fee: 3.99%
  • Coinbase USD Wallet fee: 1.49%
  • Credit transaction fee: 2%
  • ACH transfer fee: Free
  • Bid-ask spread: 0.5% (Can vary)

Best For

Crypto investors looking for learning resources on crypto and a wide array of supported cryptocurrencies.

5. Gemini

The Gemini Trust Company is a cryptocurrency exchange and crypto custodian headquartered in New York that enables customers to buy, trade, sell, and store a variety of digital assets, such as Bitcoin (BTC), Dogecoin (DOGE), and Cardano (ADA).

Because Gemini is a trust company based in New York, its regulation is taken care of by the New York State Department of Financial Services (NYDFS). It was founded in 2014 by the Winklevoss brothers.

Features

  • Versatile user interface that can be used by beginners and advanced crypto investors alike
  • My Portfolio feature that allows you to keep track of your account, view your balance, and more
  • Has a highly-rated mobile app
  • Wide array of supported crypto (40+)

Cost

  • Max trading fee: 1.49%
  • Debit card purchase fee: 3.49% 

Best For

Crypto investors looking for a safe, secure, and regulated cryptocurrency exchange.

What Is The Best Crypto Wallet According To Reddit?

Here are Reddit’s top picks for the best crypto wallets:

1. ZenGo

ZenGo is a relative newcomer when it comes to crypto wallets, but it’s been making a serious splash thanks to its easy-to-use interface and an ever-increasing number of features. Redditors all over the world talk highly about ZenGo, and it’s definitely their favourite wallet right now.

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.

4. Ledger Nano S

Similar to the Nano X, the Ledger Nano S is a hardware wallet with extremely positive reviews from Reddit. It supports 1,500+ cryptocurrencies and allows users to hold up to 20 digital assets on the device at any given time.

5. Trezor Model One

The Trezor Model One isn’t just a hardware wallet—it can also be used as a password manager. Redditors really like that aspect of it, and it’s a great feature for anyone serious about improving their overall digital security.

In Summary

Reddit is one of the most popular locations on the internet for anybody interested in crypto trading. With so much about cryptocurrency trading yet to be discovered and the market changing rapidly, Reddit stands out as a go-to source for cryptocurrency knowledge and guidance. While none of these exchanges is universally loved, these would be the top crypto trading platforms that stand out the most to Redditors.

The crypto exchange favoured most by Redditors is Newton. It’s an easy-to-use platform that offers commission-free trading, as well as support for 10 cryptocurrencies and stablecoins, like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).

The Best Crypto Exchanges In Canada

Best Overall

Supports: 16 cryptocurrencies
Security: 95% cold storage
Trading fees: 0.2%

$50 bonus ends May 19.

★★★★★

Rated 4.9/5

Lowest Fees

Supports: 17 cryptocurrencies
Security: 95% cold storage
Trading fees: 0.1% - 0.2%

Free account, instant verification

★★★★★

Rated 4.8/5

Best For Altcoins

Trading fees: 0.4%
Security: 95% cold storage
Signup bonus: $10

Trade with 10x leverage.

★★★★

Rated 4.2/5