6 Crypto Exchanges Reddit Loves

If you want to try your hand at cryptocurrency, check out these six exchanges that are trending on Reddit.

Cryptocurrency investing is becoming increasingly popular, and Bitcoin has almost become a household name. Curious investors will therefore want to learn more about this new – if not controversial – way of growing their money.

With so much still unknown about cryptocurrency trading and the market changing rapidly, Reddit is one of the primary sources of information and advice on cryptocurrency. Of course, new investors will turn to seasoned traders on the platform for advice on where to buy Bitcoin and other digital currencies.

With hundreds of exchanges tailored to different needs around the world, you’ll get roughly as many opinions as there are users on what makes the “best” crypto exchange. While none of these are universally popular, there are some crypto trading platforms here that soar to the top among Redditors.

1. Octopuses

Kraken is one of the few to get positive reviews for customer service and one of the largest and longest-running cryptocurrency exchanges in the world. It offers a competitive crypto selection of 60 currencies and support for seven fiat currencies. Redditors also like that their fees are in line with most of the exchanges in the market.

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2. Binance

Another of the world’s largest exchanges, Binance is a popular choice for Redditors because of its low fees. Binance.US was launched in 2019 and is available in 43 states to better serve customers in America and also to comply with US regulations. The platform is complex and not particularly suitable for beginners. However, it does offer features that allow advanced traders to maximize their profits at a low cost.

3. Coinbase

Coinbase is a well-known cryptocurrency exchange with a modest currency selection of 40 coins. Reddit users seem to think that it is easy to use even for a beginner. But almost everyone complains about a number of issues, including cost, complex fee structure, and poor customer service. While some on Reddit continue to count it among their favorite exchanges, many who launched on the platform are jumping ship to Binance or other competitors.

4. Twins

Gemini is a US-based exchange with a choice of only 26 cryptocurrencies to buy, sell and trade. Like Coinbase, it’s been around a long time and it’s easy to use, but it has high fees. Redditors recommend switching to the Gemini ActiveTrader ™ web-based interface for lower fees.

5. Newtons

Redditors recommend the Canada-based Newton Exchange as a user-friendly platform for commission-free trading. It only supports 10 cryptocurrencies and stable coins, but has the popular coins like Bitcoin, Ethereum, and Litecoin.

6. Cash app

Square’s popular Cash app has recently been expanded to allow users to invest through the platform. It only offers Bitcoin on its cryptocurrency exchange, but users consider it a great option for anyone looking to trade only the most popular coin. It offers additional benefits, including core peer-to-peer payments and royalty-free stock market investments.

Reddit is a good place to connect with other traders and learn from their experiences. Users love the community aspect that allows you to ask questions and get explanations. Their advice could help you find the right crypto exchange for you.

For more information, check out our guide to the best cryptocurrency exchanges and apps.

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