5 Best Crypto Exchanges Reddit Loves (Sep 2022)

September 24, 2022
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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 break down the best place to buy crypto, as voted by Redditors.

Capital is the favorite among knowledgeable crypto investors on Reddit, both for its enterprise-grade security and low trading fees. If you’re looking for a safe, cost-effective way to buy and sell crypto, I can’t recommend Capital highly enough.

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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’s desktop platform and mobile app are well-designed and easy to use by beginners and advanced traders alike.

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.

OPEN FREE ACCOUNT
Zero trading fees

2. Binance – Great Customer Support

Launched in 2017, Binance is a cryptocurrency exchange based in the Cayman Islands and the largest exchange in the world by trading volume. It supports over 300 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and PAX Gold (PAXG), and over 50 fiat currencies, on top of its own native token, Binance Coin (BNB).

Binance's native token doubles as a utility token and provides discounts on trading fees for holders: trading fees range from 0.1% to 0.04% based on how many BNB tokens you're holding. Instant trades incur a 0.5% fee and there is no fee for making deposits, fiat or crypto.

Some of Binance's best features include Binance Earn, a crypto staking platform, a Crypto Visa Card, which can be used to pay with crypto anywhere Visa is accepted, and advanced charting tools. They also run special offers every month and reward their users when they reach certain milestones, like trading certain crypto or trading between a pair.

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.

3. eToro – Best For Copy Trading

#1 Social Trading

Trading fees: 1%
Supports: 50+ coins
Customer support: Excellent

Best for social/copy trading.

★★★★★

Rated 4.6/5

eToro is a globally renowned brand with an easy to use desktop platform and mobile app, and it offers some of the lowest fees (and spreads) in the industry. 

One of eToro’s biggest innovations over the past decade has been CopyTrader, a brand new model of investing that allows any eToro user to copy other investors’ trades in real-time. This allows even novice traders to make smart, timely trades based on others’ knowledge, making eToro an ideal platform for both beginners and advanced traders alike. 

If you want to invest in more than just crypto, eToro also supports stocks, forex, commodities and more, all in one place.

I’ve used eToro for years and have nothing but good things to say about their platform and their business. Click here to open your free account and start trading today.

Features

  • Supports 50+ cryptocurrencies
  • Tight spreads (around 0.1% – 0.3%) 
  • Allows short selling
  • Up to 30x leverage (2x leverage on crypto)
  • Free deposits and withdrawals from debit/credit cards, bank transfer, etc.
  • Excellent desktop trading platform and mobile app

Cost

  • Trading fees: 1%
  • Spreads: 0.1% – 0.3%

Best For

Passive investors who plan to buy and hold for 90 days or more.

4. Bitbuy – Best In Canada

$50 Signup Bonus

Trading fees: 0% – 1.5%
Security: 99% cold storage
Signup bonus: $50

$50 bonus ends soon.

★★★★★

Rated 4.8/5

Bitbuy is, without a doubt, the best crypto platform in Canada in 2022.

For starters, Bitbuy has incredibly low trading fees: just 0.1% for trades made using their advanced trading platform. It supports 25+ cryptocurrencies, verifies accounts instantly, prides itself on its helpful customer service reps, and has a beautiful, well-rated app.

Bitbuy has processed more than $4 billion in trades across its 400,000+ Canadian users. It’s a Registered Marketplace and Investment Dealer as recognized by the Ontario Securities Commission (OSC), which means it’s a highly safe and secure exchange that offers deep liquidity for all order sizes.

For a limited time, Bitbuy is offering a $50 bonus to Yore Oyster readers who fund their account with $250 or more. If you’re looking for a highly-respected Canadian crypto exchange that offers altcoin trading, excellent customer service, and a slick mobile app, open a Bitbuy account today.

Features

  • Extremely low trading fees (0.1%)
  • Easy to use for both beginners and more advanced traders
  • Supports 25+ cryptocurrencies
  • Excellent customer support
  • Powerful mobile app (rated 4.6/5 on the App Store)
  • 99% cold storage policy keeps your crypto extra secure

Cost

  • Account Opening: Free
  • Trading Fees: 0.1%
  • INTERAC Deposits/Withdrawals: 1.5%
  • Bank Wire Deposit: 0.5%
  • Bank Wire Withdrawal: 1%

Signup Bonus

$50 when you deposit $250 using this link.

Best For

Investors looking for extremely low fees and the best overall trading experience.

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Offer ends soon.

5. CoinSmart – #2 In Canada

Best Overall

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

$50 bonus ends September 31, 2022.

★★★★★

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.

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Offer ends September 31, 2022.

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 favorite 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 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 favored most by Redditors is Capital. It's an easy-to-use platform with bank-level security, zero trading fees, and a well-rated, easy to use interface on both desktop and mobile.

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Zero trading fees

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 because of its zero trading fees, tight spreads and best-in-class customer support. Reddit users also like that they can trade with up to 10x leverage on Capital, and that deposits and withdrawals are always free.

What's The Best Crypto Exchange For Day Trading On Reddit?

Reddit's favorite crypto exchange for day trading is Capital, because they charge extremely low trading fees and have tight spreads that maximize profits for day traders. Other favorites include eToro and Pepperstone, though if you're in Canada, it's either CoinSmart or Bitbuy.

What's The Best Crypto App On Reddit?

The best crypto app as voted by Redditors is Capital, which is rated 4.8/5 on the App Store and 4.6/5 on the Play Store. The Capital app is highly functional, allowing users to place advanced trades (including limit orders, stop orders and more), and has a sleek, user-friendly design that's 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, Pepperstone or eToro, depending on what geography you're in: if you're in the US, it's eToro, and if you're in the rest of the world, it's either Pepperstone or Capital. Capital's app, for example, is rated 4.8/5 on iOS and 4.7/5 on Android, and with desktop-like functionality, it makes other apps feel amateurish by comparison.

What's The Best Crypto Exchange In Canada On Reddit In 2022?

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 a great exchange in our experience, too.

What's The Best US Crypto Exchange On Reddit In 2022?

Redditors generally agree that the best crypto exchange for Americans in 2022 is eToro, both for its wide selection of coins and how widely it's used around the world. eToro users can trade crypto with 2x leverage as well, allowing them to make larger trades without investing so much money up front.

What's The Lowest Fee Crypto Exchange On Reddit?

The crypto exchange with the lowest fees on Reddit is either Pepperstone or Capital, since both don't charge any trading fees and have very tight spreads. eToro is another low-fee option, or you can use CoinSmart or Bitbuy if you're in Canada.

What's The Best Altcoin Trading Platform On Reddit?

Reddit's top pick for the best altcoin trading platform is either eToro or Capital. Both platforms support 100+ cryptocurrencies, so if you're looking to invest in a new altcoin before it goes mainstream, either of these exchanges are a good choice.

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