Choosing a crypto exchange is often the first step investors take when researching the word digital asset. Although there are many ways to exchange cryptocurrencies, centralized exchanges offer a relatively easy way to convert cash into coins and tokens. There are many exchanges to choose from – some with a longer history than others. By comparing exchanges, investors can review fees, cryptocurrency selection, advanced trading options and customer service offerings. But it is also important to remember some caveats.

Although some stock brokers also offer crypto exchanges, crypto trading does not have the same investment protections that you get when working with traditional investments. US Securities Investor Protection. insurance does not apply to cryptocurrencies, so if your exchange fails (as FTX did in the fall of 2022), you may lose your investment. Therefore, some users are reluctant to hold assets on exchanges unless they are actively trading. There are many ways you can use your crypto wallet to store, trade and trade cryptocurrencies.

There are many ways and places to invest in cryptocurrency. Our list includes crypto exchanges, platforms and online brokers that offer crypto services, as well as cash and payment apps that allow you to buy and sell Bitcoin, Ethereum and other digital assets.