6 Best Crypto Exchanges Reddit Loves (May 2023)

May 1, 2023
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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.

Capital is the favorite among knowledgeable crypto investors on Reddit, both for its high level of security and for its ease of use. Capital's fees are also extremely low, so if you’re looking for a secure, cost-effective way to buy and sell crypto, I can’t recommend Capital highly enough.

What Are Reddit's Top Crypto Exchange Picks?

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

1. Capital – Best Overall

Zero Fees

Trading fees: 0%
Supports: 100+ coins
Customer support: Excellent

Trusted by millions.

★★★★★

Rated 4.9/5

Capital allows users to trade crypto alongside stockscommodities, 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. 

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.

Best For

Investors looking for the best overall crypto trading experience with no trading commissions.

3. Revolut

Best Overall

Trading Fees: 0% (Best)
Security: 95% cold storage
Signup bonus: 3 months Premium

Lowest fees + best platform.

★★★★★

Rated 4.9/5

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 this link.

Best For

Investors looking for low fees from a top-rated platform

GET REVOLUT PREMIUM
Valid for 3 months. Expires May 30, 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.

4. ZenGo – Best For Security

Good All-Around

Account Opening: Free
Security: Best in class
Customer Support: Excellent

Top-notch security + average fees.

★★★★

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.

SECURE MY CRYPTO FOR FREE
Sign up by May 30, 2023.

5. VirgoCX – Best In Canada

#2 In Canada

Trading Fees: 0%
Security: 95% cold storage
Signup bonus: $20

Solid bonus + security.

★★★★★

Rated 4.7/5

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.

6. CoinSmart – #2 In Canada

Best In Canada

Trading fees: 0.2% (Medium)
Security: 95% cold storage
Signup bonus: $50

Low fees + excellent platform.

★★★★★

Rated 4.9/5

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 two picks for the best crypto wallets:

1. Ledger Nano X – Best Overall

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.

2. 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

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.

Capital is the favorite among knowledgeable crypto investors on Reddit, both for its high level of security and for its ease of use. Capital's fees are also extremely low, so if you’re looking for a secure, cost-effective way to buy and sell crypto, I can’t recommend Capital highly enough.

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 Capital, due to its low trading fees, tight spreads and excellent customer support. Reddit users also like that they're fully secure storing their crypto inside Capital‘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 Revolut, 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 CoinSmart or VirgoCX.

What's the best crypto app on Reddit?

The best crypto app, as voted by Redditors, is Capital, which is 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 or Revolut, depending on what geography you're in: if you're in the US, it's Revolut, and if you're in the rest of the world, it's Capital. Both the Capital and Revolut 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 CoinSmart due to its extremely low trading fees and excellent customer support. The general sentiment on Reddit toward CoinSmart 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 Capital, both for its large selection of coins and how widely it's used around the world.

What's the lowest fee crypto exchange on Reddit?

The crypto exchange with the lowest fees on Reddit is either Capital or Revolut, since both don't charge any trading fees on some or all trades and have very tight spreads. If you're in Canada, you should use CoinSmart or VirgoCX instead.

What's the best altcoin trading platform on Reddit?

Reddit's top pick for the best altcoin trading platform is one of ZenGo, Revolut or Capital. All three platforms support dozens of cryptocurrencies, so if you're looking to invest in a new altcoin before it goes mainstream, all of these exchanges are a good choice.

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