Coinbase & Coinbase Pro: Coinbase is the most reliable and popular crypto exchange in the United States, having never had a hack or security breach to date. You can easily connect your US based bank in order to provide funding to your account, and will be FDIC insured up to $250,000 in any instance of a breach resulting in loss of assets. You will find a wide offering of different cryptocurrencies with Coinbase, all of which have gone through an extensive process in order to be listed here.
Kraken: Kraken is similar to Coinbase in that they offer an exchange for purchasing cryptocurrencies using fiat currencies, as well as low-fee trading for crypto-to-crypto pairs. The two biggest differences with Kraken and Coinbase is that Kraken offers up to 5x leverage in comparison to 3x at Coinbase, as well as Kraken having been granted the first ever SPDI banking charter that will allow them to rollout future services far beyond their currency exchange.
Gemini: Gemini is the creation of the Winklevoss twins (hence the name), and is not all too different from the previously mentioned exchanges. What distinguishes Gemini is their highly regarded hot-wallet used for storing your crypto funds, as well as their new Bitcoin-backed Mastercard that allows you to earn up to 3% back in any crypto that they offer on the Gemini exchange.
FTX: FTX has gained massive popularity worldwide in recent months, earning US brand recognition with major sponsorship deals with names like the MLB and the Miami Heat. FTX offers multiple types of options contracts, up to 20x leverage, and their own native exchange token that can be used to reduce transaction fees.
Binance (caution): Binance is one of the largest cryptocurrency exchanges in the world, offering high liquidity and more altcoin offerings than nearly any other major exchange. Also, if you hold Binance’s native BNB token, you can use it to reduce transaction fees up to 25%. So why doesn’t everybody use Binance? Since the exchange's creation in 2017, they have undergone more regulatory scrutiny in more countries than any other exchange. We caution any of our users from using Binance as their main exchange as they are currently undergoing a renewed round of scrutiny from the SEC and other regulators for offering illegal derivatives and stock-based tokens.
https://www.binance.us/en/home
You have three primary options for how you can safely store your cryptocurrencies: 1. On Exchange - This might seem a little intuitive but in case you weren’t aware, it is often ok to keep your cryptocurrencies within the exchange that you use to trade them. Exchanges like Coinbase and Kraken allow you to hold any currencies that they offer within the profile you create at these respective exchanges, FDIC insured up to $250,000USD in case of a network security breach. 2. Hot Wallet - For added security, you can store your cryptocurrencies in a ‘Hot’ wallet, which is an online cryptocurrency wallet that is protected with encryption algorithms that ensure only the person with the ‘key’ phrase will be able to access protected funds. Hot wallets are typically used by traders with large holdings that they do not want to keep on an exchange, or by longer-term investors that have no intention of trading their cryptocurrencies any time soon. Be aware that most transactions from wallets to exchanges will incur a transaction fee (both ways) so if you do store your coins in a hot wallet, be mindful of how often you send funds back and forth.
Here are a handful of popular Hot Wallet providers, however keep in mind that there are tons of wallet apps and websites available that have pros and cons including varied transaction fees, available coins, and insurance.
Coinbase Wallet - https://wallet.coinbase.com/
Exodus Wallet - https://www.exodus.com/
Mycelium Wallet - https://wallet.mycelium.com/
3. Cold Wallet - Cold wallets are physical devices that are dedicated to storing your cryptocurrencies offline, where you face no risk of a security breach or hack. Cold wallets are typically used by investors that are hesitant to trust a 3rd party hot wallet provider with securing their funds, so they choose to take full responsibility into their own hands. Essentially just encrypted USB drives, cold wallets allow you to take your cryptocurrencies, download them so they can only ever be accessed from the physical device, and then give you the option to store the device in an at-home safe or a bank safety deposit box.
The two most popular Cold Wallet devices are Ledger and Trezor:
Ledger Wallet - https://www.ledger.com/
Trezor Wallet - https://trezor.io/
Hot Wallets:
Coinbase Wallet - https://wallet.coinbase.com/
Exodus Wallet - https://www.exodus.com/
Mycelium Wallet - https://wallet.mycelium.com/
Cold Wallets (Device):
Ledger Wallet - https://www.ledger.com/
Trezor Wallet - https://trezor.io/