Cryptocurrency investing platforms like Coinbase, Kraken, Gemini, eToro, Coinrule, and more can help you maximize your returns while minimizing fees.
ByBecca Stanek
Updated Jan 31, 2023
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Crypto
Getting Started
Active Investing
Curious about crypto, but unsure of how to get started? The first step to trading crypto is to find an investing platform that's right for you. To help you make that determination, we've rounded up the best cryptocurrency platforms to invest with and detailed what you need to know about them.
Platform | Number of Coins Supported | Minimum Investment | Fees |
|---|---|---|---|
Crypto.com | 250+ | $1 | 0% |
Coinbase | 145+ | $10 | 1.49% |
Kraken | 50+ | $10 | 0.16% |
Gemini | 72 | $1 | 0.40% |
eToro | 45 | $50 | 1% |
Ember Fund | N/A (Several managed cryptocurrency portfolios offered) | $500 | Varies by portfolio (0%-3% annually) |
Bitcoin IRA | 9 | $3,000 | Amount unspecified, but will include a one-time service fee, a custodian + security fee |
Coinrule | 58 | $1 | 0% |
Crypto.com allows you to buy Bitcoin and over 250 other cryptocurrencies with more than 20 different fiat currencies. The platform also offers coin staking for some of the coins available on the platform. Staking Crypto.com coin (CRO) offers a number of additional benefits, including a better APR in Crypto Credit and Crypto Earn. You can access, manage and spend your funds using the Crypto.com Visa Card, a debit card that offers up to 8% back on spending, among other rewards.
Coinbase currently has roughly 145 coins available on its platform, and it has plans for that number to keep increasing. Users can buy and sell crypto on the platform, and they also have the option to attempt to earn rewards through staking. You can also store your crypto in the Coinbase Wallet, which can hold your cash in custodial accounts at U.S. banks where it will be FDIC-insured. As an added bonus, Coinbase also offers a number of educational articles, tips and tutorials, which could be helpful for a newer crypto investor.
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Crypto
Kraken markets itself as one of the "largest and oldest Bitcoin exchanges in the world," and indeed, it has been in existence since 2011. The platform offers a modest 50+ coins, and users can opt for trading or staking. Additionally, Kraken also offers margin trading and futures trading. It's also worth noting that while Kraken is accessible to the majority of U.S. states, it does not currently offer services to residents of Washington state or New York.
Crypto
Through the Gemini Exchange, you can research the crypto market, buy 70+ coins and build a portfolio. Gemini emphasizes a streamlined, clear interface, and for the more experienced crypto investors, there's the option to upgrade to Gemini ActiveTrader®, which offers advanced charting, multiple order types, auctions, and block trading. While there are fees for deposits or withdrawals, there is a 0.40% annual custodial fee as well as numerous different trading fee schedules to be aware of depending on how you're placing your trades. Staking is not offered through Gemini.
Crypto
eToro bills itself as a social investing platform. It offers a unique tool called CopyTrader™ for crypto trading, where you can view the investments of other users and copy their moves. The platform also offers a virtual portfolio funded with $100,000 in virtual money that you can use to learn and explore before you start investing any real money. You can currently buy and sell 45+ coins through the platform, and staking is often available for certain crypto assets. Investors should also note that eToro is not currently available in the states of Hawaii, Minnesota, Nevada, New York and Tennessee.
Crypto
Ember Fund allows its users to buy into a managed cryptocurrency portfolio, with a few currently offered, including The Ember DeFi Index, Ember Metaverse Index, Yield and Big 3 Weighted, which are passively managed indexes that are centered around major cryptocurrencies in the DeFi, NFTs and payments space. Unlike many other platforms, Ember Fund is non-custodial, which means that users hold onto their own assets, which are held in a wallet that only they can access through their mobile device. To get started, you will need a minimum investment of $500 and you will need to fund your Ember Wallet with Bitcoin. The platform also offers the Ember BTC Mining Program, which incentivizes its users to learn about crypto through a Bitcoin rewards program.
Crypto
As its name suggests, Bitcoin IRA allows you to start investing in cryptocurrencies with your IRA. The platform allows users to roll over funds from an existing IRA, Roth IRA, SEP IRA, SIMPLE IRA, 403(b) or 401(k), with a minimum investment of $3,000 required. The platform currently offers nine coins for investment, and users have the option to invest entirely in one coin or in a combination of different coins. Note that you won't know the exact amount of the fees involved until you call a representative; Bitcoin IRA does specify that it charges a one-time service fee, a security fee and a custodian fee.
Coinrule lets you automate your cryptocurrency investing by setting up automated rules across coins that are then sent to your supported exchange of choice. These rules include the option to set up staking. Additionally, you can choose from over 150 different templated strategies if you don't want to figure out your investing approach from scratch. While you can get started with Coinbase at no cost with the Starter account, to add more rules, access the full range of templated strategies and increase your trade volume, you will need to upgrade your plan. Available options range from the Hobbyist, at $29.99 per month, to the Trader, at $59.99 per month to Pro, at $449.99 per month.
Robo Advisor
The best cryptocurrency platform to invest in ultimately depends on what you're looking for. As you're assessing your options, consider which coins the platform supports, how much you'll need to invest to get started and what fees you'll pay. Also, take into account the types of investments the platform supports (such as an IRA vs. trading) as well as what security measures the platform has in place.
For starters, no investment is entirely safe—there is almost always the risk of loss. However, cryptocurrency exchanges do have more vulnerabilities than traditional stock exchanges, which is why it's critical to take note of a platform's security when assessing your options. Make sure the platform has incorporated high-level security practices and also consider the platform's overall reputation, particularly when it comes to its security track record.