6 Best Crypto Exchanges of June 2023
Crypto exchanges are where traders can buy, sell and convert different cryptocurrencies and NFTs (non-fungible tokens). They are necessary for digital assets to be traded at the scale they are today. Some exchanges offer the most competitive prices or speeds, whereas others provide specialized financial products.
Read on to learn about the best cryptocurrency exchanges, how they work, and which one you should pick.
What’s going on with crypto?
Amid a broad crackdown on the crypto industry by the Securities Exchange Commission (SEC), numerous organizations are currently under the spotlight. This crackdown comes in the wake of several high-profile failures that shook the industry, starting with the collapse of FTX on November 11, 2022.
Binance, the international partner of Binance.us, made headlines in early 2023 due to a CNBC investigation that revealed its employees and trained volunteers were helping users circumvent Know Your Customer (KYC) and Anti-Money Laundering Rules.
The SEC also identified possible violations of securities law in the crypto staking service of two major players in the industry: Coinbase and Kraken. Coinbase said that it would no longer offer staking rewards for the Algorand token, whereas Kraken shut down its staking service in the U.S. and agreed to pay $30 million in penalties to the SEC.
We acknowledge that the current state of the crypto industry may be unsettling, and want to assure our audience that the exchanges listed in our top picks have transparent financial backing and robust cybersecurity measures in place. Nonetheless, if you’re looking for the most secure method possible of managing your crypto, we recommend purchasing a cold storage wallet. Our top recommendation for the best hardware wallet can be found in our list of the best crypto wallets.
Our Top Picks for the Best Crypto Exchanges of May 2023
- Coinbase – Best for Beginners
- Bitstamp – Best for Low Fees
- Kraken – Best for Security
- Pionex.US – Best for Automated Trading
- Bisq – Best Decentralized Exchange
- Public – Best $0 Commission Platform