How do I choose the right crypto exchange?

[Mark Carney]

One of the biggest factors in picking a trusted crypto exchange is the type of cryptocurrency you plan to invest in, and how far from the mainstream you want to stray. Bitcoin and a handful of the biggest altcoins like Ethereum are nearly universally available, and may be the only cryptocurrencies on the menu at online brokers. If you're interested in these and merely want to dabble in crypto, an online broker may be a good fit — one added benefit is you can keep your cryptocurrency and other investments within one platform.

But if you are eyeing a niche coin, you'll want to double-check its availability on any exchange you're considering. Pure-play crypto exchanges will offer the widest variety of cryptocurrencies and cryptocurrency pairs. Then consider where you want to store your crypto once you've purchased it: Storage options vary from exchange to exchange, and the presence or absence of your preferred storage method could be a reason to choose one service over another.

Generally, you can store crypto with the exchange where you bought it. Most, though not all, exchanges also let you move the digital assets you buy to your crypto wallet. If that's important to you, be sure to select an exchange that supports it. Finally, consider other major factors like fees, the trading experience, and — if you're new to crypto trading — the level of educational resources provided to help you get started.

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