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Top 11 Fiat to Crypto Exchanges: Effortless Fiat Conversion 2024

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In the crypto world, there is a lot of chatter regarding the best fiat-to-crypto exchanges. A lot depends on preference, current exchange rates, safety, and other related topics. However, there are some pros and cons of the most popular crypto exchanges that you should consider.

List of best fiat-to-crypto exchanges 2024

  • 1. Kraken
  • 2.
  • 3. ByBit
  • 4. Coinbase
  • 5. Bitstamp
  • 6. Bitfinex
  • 7. Gemini
  • 8. CEX.IO
  • 9. Binance
  • 10.
  • 11. KuCoin

What is fiat to crypto exchange?

Fiat to crypto exchange is a platform that lets you buy and sell cryptocurrencies for fiat money or even crypto. Traditional currencies such as the US dollar, the British pound, or the euro (EUR) are examples of fiat money.

You can legally purchase cryptocurrency on these platforms using:

  • a debit card
  • bank transfer
  • wire transfer
  • electronic wallet.

Additionally, some crypto exchanges offer direct crypto-to-crypto trading.

📚Read more: What Is a Crypto Exchange?

📚Related: Wire Transfer vs Bank Transfers


How does fiat-to-crypto exchange work?

A fiat-to-crypto exchanges work similarly to brokerage platforms with a few key differences. Instead of going to a third party, you buy bitcoins directly from a fiat-to-crypto exchange.

These exchanges purchase large quantities of cryptocurrencies, store them and sell them to users.

The process of using a fiat-to-crypto exchange resembles a regular exchange transaction. You begin by creating and verifying your account and depositing funds using a traditional currency. Then, you can choose where to store your digital assets.

The exchange usually displays the digital currency amount you will receive in exchange for your chosen fiat currency. If the exchange rate is beneficial and you decide to purchase, the system will immediately take the needed amount from your preferred payment method.

Some fiat-to-crypto exchanges allow you to exchange your purchased crypto for other cryptocurrencies. It depends on their supported offerings.

In addition, you may turn your crypto back into fiat cash by using a fiat-to-crypto exchange. You may use the exchange platform to transfer your Bitcoin holdings into fiat currency and withdraw the funds back to your original payment source.

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Why should I use a fiat to crypto exchange?

Fiat-to-crypto exchange is the most common and safe place to buy crypto. These exchanges are beginner-friendly, with lower fees compared to advanced platforms. They offer benefits like security and regulatory protection.

Using a fiat-to-crypto exchange, you may diversify your portfolio to purchase and trade digital assets and, as a result, profit from market volatility.

Where can I exchange fiat for crypto?

There are several places to exchange fiat currency for cryptocurrencies. Common choices include:

  • Crypto exchanges
  • Peer-to-peer (P2P) exchanges
  • Brokerage services
  • Payment processors
  • Over-the-counter (OTC) desks

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Best fiat to crypto exchanges

#1: Kraken

Kraken logo

Kraken is a secure Bitcoin exchange with a user-friendly website. It supports the purchase of over 200 cryptocurrencies using six fiat currencies. While the fees may be higher than other platforms, Kraken is an excellent choice for security-conscious investors seeking to buy crypto with fiat.

Kraken has a reputation for reliability. The intuitive interface is suitable for beginners and experienced traders alike.

The platform allows for quick conversion between crypto and fiat with competitive fees based on transaction size, asset, payment method, and market conditions. Deposits and withdrawals on Kraken are possible via various channels, including bank transfers and digital app shops.


  • Low fees. Trade fees vary from 0% to 0.40%
  • Wide cryptocurrency choice. Kraken offers 240+ cryptocurrencies for trading, including popular ones like Bitcoin, Ethereum, Ripple, and more.
  • Moderate withdrawal fees for Bitcoin (BTC). Kraken’s official website states that the withdrawal fee for Bitcoin (BTC) is 0.0002 BTC.


  • A limited number of fiat currencies. Kraken supports 3 major fiat currencies, and this may be limiting for users in some countries.
  • Poor customer support and privacy concerns. Users have expressed dissatisfaction with customer support, and the platform may not be ideal for those prioritizing anonymity.
  • Exchange is unavailable in certain states of the USA. Now, New York and Washington residents cannot access the Kraken exchange feature.

#2: logo

Founded in 2016, is a prominent cryptocurrency exchange platform with a high level of security. It is accessible in more than 80 countries.

Experienced traders prefer to use the App. However, it is also suitable for those starting to trade. The platform offers a secure crypto wallet for users to store their digital assets.


  • A wide range of currencies. 350+ cryptocurrencies and 8 fiat currencies, including the most popular ones.
  • Trade discounts. Owning CRO, the native cryptocurrency of, reduces trading fees on the platform.
  • Educational materials. The platform offers educational resources and in-depth research, making it a strong choice for beginners and dedicated users.


  • High crypto withdrawal fees. The fees depend on trading volume. However, they range up to 0.0750% for a maker and a taker.
  • Deposit delays. Some users claim that their deposits get stuck for even months.
  • Limited customer support. The platform offers help only through chat. Also, many people find the support slow and unhelpful.

#3: ByBit

Bybit logo

Bybit is a popular and user-friendly fiat-to-crypto exchange. It is known for its competitive trading features. It allows users to buy crypto assets and sell digital assets using any of 20 fiat currencies.

Bybit offers various withdrawal methods: a bank transfer, a wire transfer, a credit or debit card, and an e-wallet.

The platform prioritizes security and employs multi-signature wallets, cold storage, and advanced encryption techniques.

Bybit is a reliable exchange for fiat-to-crypto trading. It works with reputable liquidity providers and a diverse range of assets. Additionally, it provides automated trading features, including dollar-cost averaging (DCA) crypto bots.


  • Cryptocurrency variety. Bybit supports 1,190+ cryptocurrencies, giving diverse options for trading.
  • Strong liquidity and volume. Bybit has good liquidity and volume for popular pairs, making it easy for traders to enter and exit positions.
  • Insurance fund for security. Bybit’s insurance fund manages market risk, adding an extra layer of security for users.


  • No fiat deposits. Bybit doesn’t support direct fiat deposits, which might be limiting for users in certain countries.
  • Withdrawal options. Bybit doesn’t allow bank withdrawals, limiting choices.
  • Not available in the US. Bybit is not allowed in the US due to regulations from the SEC and other financial bodies.

#4: Coinbase

Coinbase logo

Coinbase has robust security measures, accessibility with popular fiat currencies, a user-friendly interface, and strategic partnerships. With features like two-factor authentication and SSL encryption, Coinbase prioritizes user funds and information protection.

Coinbase supports fiat currencies like USD, GBP, and EUR. You can also make bank transactions and use credit card payments and PayPal deposits. 

The platform enables hassle-free buying and selling of cryptocurrencies and has partnerships with Visa and other financial institutions. Withdrawals from Coinbase are simple and fast.

While fees may vary, Coinbase remains a reliable option for newcomers and experienced investors.


  • Easy-to-use interface. Coinbase is known for its simple interface, making it ideal for beginners and those less familiar with technology.
  • Security and transparency. Coinbase is praised for its secure and transparent environment, ensuring a safe space for users to buy cryptocurrencies with fiat.
  • Multiple currencies. Coinbase supports 240+ cryptocurrencies, including popular ones like Bitcoin (BTC), Ethereum (ETH), and Avalanche (AVAX).
  • Lower fees. Depending on the cryptocurrency, the maker and taker fees vary between 0.00% and 0.40%.


  • Regulatory uncertainty. The regulatory situation in the US is unclear, and the recent SEC threat causes concern.
  • Complicated fee system. Tracking costs on Coinbase can be challenging. Also, the fee structure might be confusing for some users.

#5: Bitstamp


Bitstamp is one of the world’s oldest cryptocurrency exchanges. It supports trading between fiat currencies and popular cryptocurrencies.

With over four million customers worldwide, Bitstamp provides a secure trading platform. The exchange is suitable for both beginners and experienced traders.

Bitstamp has faced some security issues, including a hack in 2015. However, the company has enhanced its security measures and began conducting audits of its virtual currency holdings to ensure transparency and security.

Overall, Bitstamp is a reputable and reliable cryptocurrency exchange, offering a variety of trading options for users.


  • Compliance and regulations. Bitstamp follows regulations in Luxembourg and holds a Payment Institution License, emphasizing its commitment to compliance and user protection.
  • Affordable trading. Bitstamp provides competitive trading fees, making it an excellent option for cost-conscious investors.
  • Wide range of services. A user-friendly platform offers diverse services, appealing to beginners and advanced users.


  • Deposit disruptions. Multiple users are unhappy with how long it takes to credit their accounts. Some report that their deposits are not credited at all.
  • Poor customer service. Some reviews suggest that support ignores customer concerns.
  • Withdrawal issues. Many users have mentioned problems withdrawing money, and their accounts have been terminated without a clear reason.

#6: Bitfinex


Established in 2012, Bitfinex is a prominent digital asset trading platform for global liquidity providers and digital currency traders. It offers high-volume trading, supporting spot and derivatives products like exchange and margin trading.

Recognized for its professional approach, Bitfinex was among the first platforms designed for digital asset trading, supporting various cryptocurrencies. Moreover, it holds a significant position in the Bitcoin market while being associated with Tether.


  • Support of various cryptocurrencies. Bitfinex supports 165 coins and 448 trading pairs, covering multiple cryptocurrencies and fiat currencies like USD, EUR, JPY, and GBP.
  • It advanced trading tools. It provides experienced traders with advanced features like margin trading, margin funding (P2P lending), over-the-counter markets, and derivatives trading.
  • Low fees. Bitfinex has a maker fee of 0.10% and a taker fee of 0.20% for stablecoin, crypto, and fiat trades. Moreover, it has a 0.1% deposit fee and a 0.1% withdrawal fee for most cryptocurrencies.


  • High fees. 0.100% maker and 0.200%-0.0650% taker fees for crypto trading.
  • Security concerns in the past. Bitfinex faced security issues, notably experiencing a cyber attack in 2016 that resulted in a $72 million loss of Bitcoin.
  • Not suitable for beginners. Bitfinex targets advanced traders. Therefore, it can overwhelm new users due to its complex charting tools and high liquidity.

#7: Gemini


Gemini is a cryptocurrency exchange and custodian. It was established by early cryptocurrency investors Cameron and Tyler Winklevoss and regulated by the New York State Department of Financial Services (NYSDFS).

Gemini provides a platform for buying, selling, and trading various cryptocurrencies. It offers user-friendly services, low trading fees, and supports over 80 cryptocurrencies.

Gemini is available in over 60 countries, including the United States, the United Kingdom, Canada, Australia, Hong Kong, Singapore, and South Korea.


  • Wide range of cryptocurrencies. 13 cryptocurrencies, ERC-20 tokens and 48 other tokens
  • Relatively low trading fees. Gemini’s trading fees range from 0.00% to 0.40%, depending on the user’s 30-day trading volume.


  • A small selection of fiat currencies. Gemini supports USD, AUD, CAD, EUR, GBP, SGD, and HKD.
  • Poor customer service. Many users claim that it is non-existent.
  • Various transactional issues. There are multiple claims about the changes in earn programs, security holds on crypto transfers, and a prolonged transfer delay, resulting in financial loss.

#8: CEX.IO


CEX.IO is a well-known cryptocurrency trading platform where users can buy, sell, and trade various cryptocurrencies. With over 80 million users worldwide, it provides a user-friendly mobile app and desktop platform for trading.

Additionally, it offers a Visa card that enables users to spend or withdraw funds at any Visa-accepted location.


  • Additional benefits. The platform offers up to 15% in annual crypto rewards.
  • Many cryptocurrencies. CEX.IO supports over 200 crypto markets.
  • Relatively low trading fees. If the 30-day trade volume is under $10,000, the maker fee is 0.25%, and the taker fee is 0.15%. The more you trade, the smaller the fees.


  • Only three fiat currencies. The platform only offers USD, EUR, and GBP.
  • Less liquidity. Although CEX.IO is available worldwide, it has less liquidity than its global counterparts.
  • It can be overwhelming for beginners. CEX.IO offers a wide range of features. So, for people new to trading, it can be confusing.

#9: Binance

Binance logo

Binance is the leading platform for exchanging fiat currency for crypto. It offers diverse features like margin trading to convert fiat to crypto, access numerous digital currencies, and expand portfolios.

With availability in multiple countries, Binance allows global investors to enter the crypto market using fiat currency. It supports 30 deposit currencies, including GBP, EUR, and AUD.

Its competitive conversion fee structure and reputation make it a reliable choice for international users seeking a user-friendly fiat-to-crypto exchange and withdrawals from a Binance account.

However, Binance encountered problems when the CFTC sued them in March 2023. The lawsuit claimed that Binance hadn’t set up an anti-money laundering program to detect and prevent transactions involving illegal funds, like those for terrorism financing and drug sales.


  • Wide cryptocurrency selection. Binance supports 350+ cryptocurrencies, offering diverse trading and investment options.
  • Low trading fees. Binance provides cost-effective trading fees, particularly beneficial for experienced cryptocurrency investors.
  • Global availability. Binance allows users from various regions to avail of its services.


  • Complex user onboarding. Some users find the platform too advanced for beginners and suggest improving the interface for better user-friendliness.
  • Regulatory problems. Binance has faced legal issues and pressure from regulators, causing less transparency and possible limitations on its services, especially in the United States.


Founded in 2013, has become a leading cryptocurrency exchange. The platform stands out for its industry-leading security. It implements a 100% proof of reserves approach.

It actively commits to regulatory compliance in all jurisdictions where it operates. With over 10 million users worldwide, provides users with safe, reliable, and transparent services.


  • An extra wide selection of cryptocurrencies. offers over 1700+ cryptocurrencies and stablecoins. Also, the platform supports NFTs.
  • Security. The platform uses various blockchain solutions to ensure the safety of users’ assets and transactions. These include cross-cryptocurrency hot and cold wallet storage, multi-signature security protection technology, and real-time asset transfer technology.
  • Low trading fees. The maximum trading fee on is 0.1%.


  • No fiat withdrawals. lacks a method for users to withdraw fiat currency.
  • Unavailable in some countries. Currently, you can’t access in Bangladesh, Bolivia, Canada, China, Cuba, Crimea region, Ecuador, Iran, North Korea, Sudan, Syria, Crimea Region, Spain, Luhansk, Donetsk, and other locations.

#11: KuCoin


KuCoin is a cryptocurrency exchange founded in 2017 and based in the Seychelles. According to KuCoin, it has over 30 million global investors from 200+ countries.

The platform supports futures trading and offers a peer-to-peer trading option. Moreover, users can buy crypto using their credit or debit cards. The platform also presents instant exchange services.


  • Low trading fees. The trading fee depends on your level; it varies from -0.005% to 0.01% as a market maker and from 0.020% to 0.1% as a market taker per transaction.
  • Wide range of currencies. KuCoin supports 37 fiat currencies and 700 coins.
  • Offers volume-based trading fee discounts. You can get up to 30% off if you’re a high-volume trader.


  • Safety concerns. KuCoin is not under the supervision of any reputable regulatory body. Moreover, it is on the UK Financial Conduct Authority’s warning list.
  • Negative user feedback. Many state that the platform is fake or a scam. Moreover, there was a complaint that the platform locked out of the account and wouldn’t let the user withdraw funds.
  • Poor user experience. Some users claim the website is not working well, with lagging and freezing charts. Client positions are closed without the market reaching the stop loss.
  • Poor customer support. Some clients say that support is unprofessional. They ignore direct questions and provide generic answers.


  • All information provided is dated 06 May 2024 and may have been updated since. Please check each platform’s official website for the latest information.

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How do you choose a fiat to crypto exchange?

It may be complicated to choose a singular best fiat-to-crypto exchange. As a result, you may wish to examine some of the following factors:


The best fiat-to-crypto exchange should accept many popular currencies and provide traditional payment methods like bank transfers, debit and credit cards, and e-wallets. Furthermore, a diverse set of deposit and withdrawal choices is required.

Deposit and withdrawal operations must be efficient and prompt. Users should be able to deposit and withdraw funds without unnecessary delays or expensive costs.

Since you are to convert fiat to crypto, ensure that the exchange you choose accepts several payment options. Most fiat-to-crypto exchanges accept debit cards and bank transactions. However, if you want to use an e-wallet, you must first choose a platform that does.

Fiat currencies

For deposit, withdrawal, and exchange purposes, the best fiat-to-crypto exchanges widely support currencies like USD, EUR, and GBP.

However, the problem occurs if you prefer a less popular one. Unfortunately, these transfers can be costly. Nevertheless, you can always choose an exchange that offers a diverse selection of virtual and fiat currencies.

Crucially, an exchange might not support your local currency. The best option is to look for a platform that accepts it so, you can avoid additional fees and have a smoother transaction process.

Exchange fees

Look for a fiat-to-crypto exchange that offers low trading and minimal deposit and withdrawal fees. A low exchange fee is around 0.1% to 0.2% for both the maker and the taker. Some platforms offer even smaller ones.

Transparency is essential. Thus, the exchange should have clear fee structures without hidden charges. It should provide transparent information on how fiat-to-crypto exchanges calculate.

It is critical to understand the expenses involved with the exchange in advance. Fees apply to all exchanges, and you should be aware of them.

Some platforms may charge fees for specific payment methods. In comparison, others have spreads or commissions you should consider. If you plan on making frequent transactions, try to negotiate lower commissions.


Cyber threats and hacks are common in the cryptocurrency space. This situation makes it essential to prioritize robust security measures.

A secure platform should include features such as:

  • Multi-factor authentication
  • SSL encryption
  • Cold storage for user funds
  • Regular security audits
  • Continuous monitoring of suspicious activities

How to conduct a fiat-to-crypto exchange

Follow these steps to use a fiat-to-crypto exchange:

#Step 1: Conduct research and select an exchange. Begin by researching the cryptocurrency market and picking a reliable fiat-to-crypto exchange. Look for those that accept the fiat money and cryptocurrencies you intend to trade with.

#Step 2: Set up an account. Sign up for an account at the chosen exchange’s website. You’ll have to enter the necessary information: your name, email address, and password.

#Step 3: Complete the identity and verification process. Most exchanges require users to undergo identity verification to comply with regulations and ensure security. It usually entails producing identifying credentials like a passport or driver’s license and evidence of address.

#Step 4: Enable two-factor authentication to increase your bank account and security. Usually, you have to link your account to a mobile app like Google Authenticator or receive SMS codes.

#Step 5: Deposit funds. After successfully opening and verifying your account, you can make a deposit. Select your selected payment option on the payment page of your chosen exchange. Make the required deposit into your account.

#Step 6: Select the cryptocurrency to purchase. After you deposit fiat funds in your exchange account, locate the trading section of the platform. Then, select the digital coins you want to buy.

#Step 7: Place a purchase order. Decide how much cryptocurrency you want to buy and are willing to pay.

You can place market orders (instant purchase at the current market price) or limit orders (specific price purchase).

#Step 8: Withdraw your purchased cryptocurrency. You can start a withdrawal from the exchange if you wish to store your cryptocurrency in a personal wallet or move it to another platform.

Provide the destination address of your external wallet or the recipient’s wallet address on another exchange and follow the withdrawal process.

It’s important to distinguish between fiat-to-crypto and crypto-to-fiat exchanges. If you’re looking to convert cryptocurrency back to fiat currency, check out our guide on how to exchange crypto to fiat.

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What is fiat money?

Fiat money refers to a form of money that is not backed by physical goods like gold or silver. Its value comes from the public’s confidence in the government that prints the money.

What exchange is best for fiat to crypto?

The best fiat-to-crypto exchange is one that most suits your needs regarding personal choice, location, security, supported fiat money, accessible cryptocurrencies, costs, and overall user experience.

Some of the best fiat-to-crypto exchanges are Coinbase, swissmoney, Binance, Kraken, and ByBit.

What is the fastest fiat-to-crypto exchange?

How fast you swap cash for cryptocurrency may depend on various factors. It includes the exchange’s ability to process transactions, the payment method, and the verification criteria it enforces.

Although identifying the quickest exchange is challenging, many exchanges like swissmoney have earned a reputation for speedy processing times.

Can you trade crypto with fiat?

Cryptocurrencies may be bought and sold for fiat cash. You may convert US dollars, Euros, or British pounds at many cryptocurrency exchanges. These websites operate as go-betweens, letting users buy and sell crypto with regular currency.

When trading crypto with fiat, you can typically place market orders to buy or sell cryptocurrencies at the current market price or use limit orders to specify the price at which you want to execute the trade.

Which fiat currencies can I exchange?

The specific fiat money you can exchange for cryptocurrencies depends on the cryptocurrency exchange you are using. However, leading exchanges typically support popular fiat currencies such as:

  • Euro (EUR)
  • United States Dollar (USD)
  • British Pound (GBP)
  • Japanese Yen (JPY)
  • Canadian Dollar (CAD)
  • Australian Dollar (AUD)
  • Swiss Franc (CHF)

These are some of the most commonly supported fiat currencies. However, their availability may vary depending on the exchange and geographic reach. Before initiating any transactions, check if your fiat currency is available on the exchange platform you intend to use.

Can I exchange crypto for free?

It is unlikely that you will be able to trade crypto for free. Most cryptocurrency exchanges charge fees for their services. These fees can include transaction fees, trading fees, and withdrawal fees.

Transaction types, trading volumes, and payment methods are only some of the variables that may impact the fee size.

However, some exchanges may offer promotions or special programs, allowing users to trade cryptocurrencies with reduced or waived fees for a limited period or under certain conditions.

Decentralized or peer-to-peer trading systems may have cheaper fees than controlled exchanges.

Živilė Šarkauskaitė

Živilė is a writer with a diverse background, having worked with tech start-ups and pioneering brands across various industries. Her profound interest in progress and innovation drives her to the field of Fintech, a realm that sparks her curiosity and inspires her to share insights with others.

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Please be advised that the information presented in this article is intended for general informational purposes only. It should not be construed as professional advice from swissmoney. It is important to note that swissmoney does not act as a financial adviser, and individuals are strongly encouraged to seek independent advice from qualified legal, financial, or accounting professionals before making any decisions related to cryptocurrency investments. Furthermore, investing in cryptocurrency assets carries inherent risks, and individuals should be aware that they may potentially lose all of their invested capital.

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