Find the best exchanges offering low fees, multiple currencies and fiat exchanges.
As more people get a hankering to jump into cryptocurrency, exchanges that allow you turn fiat currencies into digital cash are in high demand.
Founded in 2011 and based in California, Kraken is among the oldest and largest cryptocurrency exchanges to support transactions in dollars, pounds, euro and yen.
To stay ahead of the competition, Kraken’s fees are low but vary by fiat — some flat, some a percentage of your transaction. Other benefits include:
- The ability to deposit and withdraw money in both fiat and crypto currencies.
- Advanced tools that facilitate margin trading.
- Many cryptocurrency trading options, including pairs with five fiat currencies.
- A dynamic fee structure that applies to both trader and tradee.
Users like Kraken’s simple interface that’s easy enough for both the beginner and advanced crypto trader and 24/7 support, including live chats. Its servers safeguard your personal and financial details in cold storage offline.
Where else can I find Kraken features?
Plenty of exchanges offer a wide selection of cryptocurrencies for trade. But Kraken’s pairs include up to five fiat currencies — dollars, pounds, yen and more — which makes combinations and features you might not find with other exchanges.
Where else can I buy cryptocurrency with fiat?
Going by market share, Coinbase is the most popular alternative to Kraken that lets you buy crypto with dollars. An accessible user interface, a mobile app and the ability to connect directly to your bank account make Coinbase a solid option for beginners.
- Easy-to-use platform with no wallet-service fees.
- Deposit and withdraw fiat currencies directly to your bank account.
- Safely buy supported cryptocurrencies with a bank transfer or debit card.
- Transaction fees can be high, depending on how you pay.
- Currently offers bitcoin, Ethereum, Bitcoin Cash and Litecoin only.
- Verification process can be lengthy — and the company controls your bitcoin.
Another exchange that lets you buy cryptocurrency with fiat is Gemini. While the volume on Gemini is historically lower than other exchanges, it’s a leading digital asset exchange that rewards high-volume traders with discounts and rebates.
- Based in New York and one of the few regulated exchanges.
- Offers advanced trading, including the ability to trade at the same prices regardless of time zone.
- Deposit and withdraw fiat currency directly to your bank account.
- Requires same-day wire transfers for your initial fiat deposit.
- Currently supports bitcoin and Ethereum only.
- High security can mean that approval can take several days.
Where else can I trade cryptocurrencies on margin?
Margin trading can be risky, but it’s a vital part of a trading strategy for many professional investors. Kraken offers margin trading options on select cryptocurrencies, with available leverage depending on your verification tier and other factors. While many exchanges accessible to US residents don’t offer margin trading options, a few exchanges do.
Poloniex and GDAX are just two alternatives to Kraken that might be worth checking out.
This exchange offers strong security and advanced trading features to satisfy most any level of trader.
- Offers crypto-to-crypto exchanges on a 100+ coins.
- Margin trading available at up to 2.5x leverage.
- Supports lending by trading on margin.
- Does not support fiat currency pairs.
- Platform isn’t as friendly as other exchanges.
- Customers report low, poor service.
Part of Coinbase and insured some of the industry’s biggest investors, this digital asset exchange allows for easy deposits and withdrawals under a “maker-taker” model.
- Supports fiat currency pairs.
- Pffers a professional trading dashboard.
- No fees on limit orders.
- Margin trading available to eligible investors only.
- Prices can be higher than you’ll find elsewhere.
- Past downtime during periods of high volume.
If none of the above exchanges offer what you’re looking for, try narrowing down your prospects by need: