Best Crypto Exchanges in November 2025

A crypto exchange is, very basically, a place where you can purchase a cryptocurrency using cash or another digital asset. These platforms have become increasingly popular as digital currencies gain mainstream acceptance. Understanding their function is the first step for any new investor looking to enter the crypto space. They serve as the primary gateway for users to trade cryptocurrencies for other assets, including digital and fiat currencies.

This roundup primarily discusses a type of crypto exchange known as a centralized exchange. A centralized exchange is a marketplace operated by a business entity that buys, sells and facilitates transactions in cryptocurrency. These entities provide a high level of security and reliability, often including customer support and user-friendly interfaces, which makes them an attractive option for beginners and seasoned traders alike. They function similarly to traditional stock exchanges, providing an order book that matches buyers and sellers.

If you're new to cryptocurrency or just need to convert fiat currency into crypto, you'll likely use a centralized exchange. They offer a straightforward onboarding process, typically requiring identity verification to comply with regulatory standards. This process, known as KYC (Know Your Customer), is crucial for preventing fraud and ensuring a secure trading environment for all users. Many also offer educational resources to help you get started.

Another way to get crypto is through what is known as a decentralized exchange. These are largely automated, blockchain-based programs that allow users to swap certain kinds of cryptocurrency for one another. While these can have lower transaction costs, they also require more technical expertise. And if you don't already have cryptocurrency, your options are limited. Users of decentralized exchanges must manage their own private keys, which adds a layer of responsibility but also provides greater control over their funds. The learning curve can be steep, but many experienced users prefer the autonomy they offer.

Do all of these exchanges support Bitcoin?

Yes, if all you're looking for is to gain exposure to Bitcoin, then any of the platforms above will easily offer that. Despite bouts of intense volatility, Bitcoin has endured, hitting a fresh all-time high in October. However, despite gaining acceptance and adoption at the institutional level in the form of spot bitcoin ETFs and other financial products, Bitcoin hasn't shed its volatile nature; it fell into bear market territory about a month after hitting that all-time high in October. Its position as the first and most well-known cryptocurrency makes it a staple on nearly every trading platform available today.

What about Ethereum?

Ethereum, the second-largest cryptocurrency by market cap, surged alongside Bitcoin this year, briefly setting a new all-time in August 2025 on favorable legislation around stablecoins. While Ethereum is not a stablecoin, many large stablecoins run on the Ethereum network. Similarly, Ethereum-based projects focused on "tokenizing" traditional aspects of finance, such as lending and stock trading, have gained momentum in 2025. Operating on the Ethereum network requires fees to be paid in its native currency, Ether. So as activity on the Ethereum blockchain heats up, demand for (and the price of) Ether goes up. But, much like Bitcoin, Ethereum fell dramatically in November, calling into question whether the legitimization we saw in 2025 will carry over into 2026. Its smart contract capabilities have also fostered a vast ecosystem of decentralized applications (dApps), further driving its adoption and utility beyond just a store of value.