Like many assets, crypto markets have undergone a big shift since Election Day. In the immediate aftermath of the election of President Trump, many digital asset investments took off in anticipation of looser policies toward the cryptocurrency industry.
[Sign up for stock news with our Invested newsletter.]
While cryptocurrencies like Bitcoin and Ethereum have taken a hit during recent volatility, they remain on a strong long-term uptrend. For instance, Bitcoin is up more than 50% in the last 12 months and up more than 900% in the last five years.
Particularly in the current environment, where folks are looking for alternatives to the same old stocks, cryptocurrencies are resonating with investors. And that means increased activity on the crypto exchanges where investors buy and sell digital assets. But which platform is the best?
Here are seven options based on trading volume and digital asset availability. However, take note that not all of these exchanges are available in all jurisdictions, so check access before looking too deep into opening an account:
— Binance
— Bybit
— Coinbase
— Bitstamp
— OKX
— Crypto.com
— PancakeSwap
Binance
Founded in 2012, Binance is the world’s largest crypto exchange by several measures. Its trading volume tops $10 billion daily, it offers access to over 350 cryptocurrencies and 100 fiat currencies like the dollar or British pound, and is itself valued at roughly $60 billion as a corporation. That scale allows for plenty of tools to enhance security, including “cold” crypto where info is held offline to avoid hacking, as well as best-in-class encryption protections.
Unfortunately, thanks to Chinese roots and a history of challenges with regulators, even the domestic subsidiary of the firm — Binance.US — remains restricted in almost 20 U.S. states and territories. So be sure to check its webpage for supported jurisdictions before you dig too deep into how to use this crypto exchange.
Bybit
Bybit has really come into its own over the last few years, ranking as one of the world’s most popular crypto exchanges. It boasts about $2 billion in daily volume, serving more than 1,000 markets and listing more than 700 coins. What’s even more impressive is that Bybit was a late entrant, founded in 2018, while many other firms on this list had a several-year head start.
Despite its scale, however, Bybit is banned in the U.S. even if it is incredibly popular internationally. There are some who hold out hope that a crypto-friendly environment in Washington may change that, but clearly, there are a lot of other issues in front of Congress and President Trump in 2025.
Coinbase
A massive crypto exchange with the least amount of regulatory hurdles for domestic investors, Coinbase Global Inc. (ticker: COIN) is a publicly traded company valued at more than $50 billion on the Nasdaq — which means an added degree of oversight that comes with a public listing and related financial filings with the U.S. Securities and Exchange Commission. It also has relationships with mainstream brokers and payment platforms, including Visa cards that pay rewards in crypto.
This cooperative approach with traditional finance firms and policymakers has made Coinbase one of the most respected mainstream exchanges out there. While international volume is a bit higher elsewhere, Coinbase is the go-to option if you want a respected cryptocurrency exchange that serves U.S. markets with more than 240 coins available for trade.
[READ: 7 Best Cryptocurrency ETFs to Buy]
Bitstamp
Luxembourg-based Bitstamp is the world’s longest-running cryptocurrency exchange, with a founding date of 2011. It “only” does about $200 million in daily trading volume, but it is duly registered in the U.S. and has products available for domestic traders — unlike some larger platforms that simply aren’t practical options. It is trusted for many reasons, including ACH cash-outs that provide almost instant payments to account holders and a shorter list of about 80 hand-picked tokens that avoids the most volatile or shady cryptocurrencies to protect users.
OKX
A unique entry on this list, OKX makes the list for a strange reason — namely, because it reached a $500 million plea deal with the Justice Department in February over money laundering violations. The exchange also shut down an admittedly popular tool in March after discovering North Korean hackers were attempting to use it to launder money. These issues aren’t particularly pleasant, but they are part of the way OKX has successfully moved to make amends with domestic regulators.
There is always a balancing act between crypto investors who want anonymity and privacy, and regulators who worry about market opacity that allows bad actors to hide illicit activity, avoid taxes and steal from other users without consequence. Because of its moves to get out of the dark a bit more, OKX is now available to U.S. users who want access to this exchange that boasts $2 billion in daily trading.
Crypto.com
With an app available in every state but New York, Crypto.com is another mainstream exchange that presents an established, liquid and trusted market for domestic investors. With about 350 coins listed and more than $1 billion in daily trading volume, this exchange has grown dramatically over the last decade or so. Much of that success is thanks to an effort to work with regulators and win over customers with big-name sponsors like Matt Damon and a 20-year branding deal with the former Staples Center in L.A. to make the stadium the Crypto.com Arena until 2041.
PancakeSwap
Moving beyond mainstream exchanges, PancakeSwap is an up-and-coming “decentralized exchange,” or DEX, built in a way that allows users to trade tokens without a centralized gathering place for transactions. Advocates of exchanges say there’s an added level of risk control and protection provided by an intermediary, but the absence of a middleman in the DEX model allows for added features and tactics you can’t find on traditional exchanges.
It also resonates with many crypto advocates who believe the future of digital assets is built on this kind of disintermediation that avoids Wall Street fat cats. There are no explicit regulations banning PancakeSwap in the U.S., but its peer-to-peer nature means there are added risks involved. So, as always, buyers and sellers should beware.
More from U.S. News
5 Ways to Build Passive Income Through Investing
7 Companies Being Boycotted Over Trump Policies
7 Best Cryptocurrency Exchanges originally appeared on usnews.com
