Dhiraj Nallapaneni is a Crypto Tax Writer at CoinLedger. As an Economics degree holder from the University of California Santa Barbara, he’s well versed in topics like cryptocurrency markets and taxation.
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David Kemmerer
Reviewed by:
David Kemmerer
Co-Founder & CEO
David Kemmerer is the Co-Founder and CEO of CoinLedger. David has been deeply involved with the cryptocurrency industry since 2017.
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Our content is designed to educate the 500,000+ crypto investors who use the CoinLedger platform. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn More
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Exchange
Best For
Cryptocurrency selection
Fees
Coinbase
Beginners
275+
0-0.6% on Coinbase Advanced, higher fees on basic platform
Kraken
Intermediate/advanced traders
500+
0-0.4% on Kraken Pro, 1% on basic platform
eToro
Social trading
100+
1% flat fee
Binance.US
Lowest fees
180+
0-0.0095% (on Tier 0 pairs), 0-0.57% (on Tier 1 pairs)
Gemini
Regulatory compliance
70+
0-0.4% on ActiveTrader, 2.49% on Instant Buy
Crypto.com
Rewards
400+
0-0.5%
Bitstamp
Crypto-focused exchange owned by Robinhood
130+
0-0.4%
SoFi Crypto
Banking + crypto
30+
1% flat fee
What are the advantages of Robinhood?
Let's walk through some of the benefits that Robinhood Crypto has to offer.
Simple, familiar interface: The app is beginner friendly, and allows you to trade stocks and crypto in one place.
Low fees: Robinhood offers zero fees for crypto transactions (though critics complain that hidden spreads are higher)
Easy to get started: Getting your account set up is simple and quick!
While Robinhood is a fantastic option for beginners, it does have limitations such as limited support for advanced order types, a small selection of cryptocurrencies, and high hidden spreads on trades.
Coinbase is a beginner-friendly exchange that offers a simple way to buy and sell crypto, and educational resources to help new investors get started. It offers over 275 cryptocurrencies and is considered a great option for beginner investors.
Coinbase has been criticized for high fees on its basic platform and slow customer support. But Coinbase’s easy-to-use interface is part of the reason why it’s one of the most popular exchanges for beginners.
Fees: 0–0.6%, not transparent on basic platform fees
Cryptocurrency selection: 275+
Pros & Cons
Very beginner-friendly interface
Strong brand and security reputation
Coinbase One membership offers BTC cashback rewards and discounted trading fees
Kraken is an exchange with a reputation for security, advanced features, and low fees. It supports 500+ cryptocurrencies and has not lost customer funds to a hack in its history.
Kraken is considered a great option for intermediate/advanced investors.
Fees: 1%, 0–0.4% on Kraken Pro
Cryptocurrency selection: 500+
Pros & Cons
Some of the lowest trading fees for active traders
eToro is a platform that supports stocks and cryptocurrencies. It’s known for its social trading features, which allow you to copy trades from high-performing users.
If you're interested in learning from other traders, eToro is a great choice. However, fees are higher than other exchanges.
Binance.US is the U.S. version of the global Binance exchange, the world's most popular cryptocurrency exchange. It’s important to note that the global version of the platform, Binance.com, is not available in the US due to regulatory restrictions.
Binance.US offers very low fees on ‘Tier 0 pairs’, which include ETH/USD, BTC/USD and more. It’s a great choice if you’re a frequent trader looking to minimize fees.
Fees: 0–0.0095% (on Tier 0 pairs), 0–0.57% (on Tier 1 pairs)
Gemini stands out for its strong regulatory focus and security certifications. It offers both a simple trading interface and an ActiveTrader platform with low fees. Fees on the standard platform are higher (around 2.49%).
If security and regulatory compliance are your top priorities, Gemini is a great option. It’s one of the few exchanges available in New York (a state known for having strict regulations on cryptocurrency trading).
Crypto.com offers over 400 cryptocurrencies. Fees range from 0–0.5% (with lower fees for users who stake CRO, Crypto.com’s native cryptocurrency).
If you're looking for a huge selection of cryptocurrencies and generous debit card rewards, Crypto.com is a great option. However, some critics complain that many of the platform’s best benefits require staking CRO.
Fees: 0–0.5%, lower fees if you stake CRO
Cryptocurrency selection: 400+
Pros & Cons
Very large crypto selection
Staking rewards available
Generous crypto cashback on debit cards
Some features require CRO staking which may not suit everyone
Slow customer support
Best for crypto-focused exchange owned by Robinhood
Bitstamp is a cryptocurrency exchange that allows you to trade over 130 cryptocurrencies. Founded in 2011, it's one of the oldest exchanges in the industry and was recently acquired by Robinhood in June 2025.
While Bitstamp is owned by Robinhood, it continues to run separately, offering lower fees and more cryptocurrencies.
Fees: 0–0.40% (maker/taker)
Cryptocurrency selection: 130+
Pros & Cons
Over 14 years on the market
Strong focus on security and regulatory compliance
Recently acquired by Robinhood
Smaller cryptocurrency selection than competitors
Fewer advanced features compared to other exchanges
SoFi integrates banking and crypto into the same platform, allowing you to manage banking, loans, and credit cards in one place.
If you're looking for a platform that can handle banking and crypto in one place, SoFi is a great choice. However, fees are higher than other platforms.
Fees: 1% flat fee on crypto transactions
Cryptocurrency selection: 30+
Pros & Cons
Very simple onboarding
Beginner-friendly design
Keeps banking and crypto in one ecosystem
Smaller crypto selection than dedicated exchanges
Higher fees
What should I look for in a Robinhood alternative?
Low fees: Understand your exchange’s fee structure. The lower the fees, the more profits you can keep.
Customer support: Quality customer support helps when you have account issues, problems with deposits or withdrawals, or security concerns.
Security: Look out for strong security features that can keep your cryptocurrency safe from hacks. Choose trusted exchanges with features like cold storage and two-factor authentication.
Crypto selection: Make sure the exchange lists the coins and tokens you're interested in trading.
Geographic availability: Check that your exchange is available in your state/country and supports your preferred payment method.
What about decentralized exchanges (DEXs)?
While this article is focused on centralized exchanges, it's important to remember that decentralized exchanges (DEXs) can be a great option for intermediate and advanced crypto investors.
While DEXs allow you to trade directly with other users and keep custody of your own crypto, they are less beginner-friendly. You are responsible for your own security (private keys, wallet safety), and there is typically no customer support.
For most beginners, centralized exchanges are a better place to start.
Frequently asked questions
How do I buy crypto without Robinhood?
To buy cryptocurrency, create an account on an exchange like Coinbase or Kraken. Create your account, verify your identity, link a payment method (bank/ACH), and then get started buying and selling crypto.
What is the best alternative to Robinhood?
The best alternative to Robinhood depends on what you value the most. If you want the lowest fees, go with Binance.US or Kraken. If you want a platform that’s beginner-friendly, go with SoFi or Coinbase.
Who has lower fees than Robinhood?
Binance.US offers some of the lowest trading fees in the U.S. market. Kraken also offers low fees for active traders.
Is Robinhood safe?
Robinhood is a trusted platform and is considered secure.
What is Robinhood's biggest competitor?
Coinbase and Kraken are two of Robinhood’s biggest competitors in terms of cryptocurrency trading.
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Written by:
Dhiraj Nallapaneni
Crypto Tax Writer
Dhiraj Nallapaneni is a Crypto Tax Writer at CoinLedger. As an Economics degree holder from the University of California Santa Barbara, he’s well versed in topics like cryptocurrency markets and taxation.
This guide breaks down everything you need to know about cryptocurrency taxes, from the high level tax implications to the actual crypto tax forms you need to fill out.