Best Exchange for Crypto-to-Crypto Trading 2025

Why Crypto-to-Crypto Matters

When you trade crypto-to-crypto (like BTC→ETH or SOL→USDC), you skip the fiat step entirely. This matters because:

Fewer fees: One trade instead of two (crypto→USD→crypto)
Faster execution: No waiting for fiat settlement
More flexibility: Rotate between positions without cashing out
Tax efficiency: Still taxable, but simpler portfolio rebalancing

Exchange Comparison: Crypto Pairs

Exchange	Trading Pairs	Trading Fee	BTC Pairs	ETH Pairs
Kraken	600+	0.16-0.26%	50+	40+
Binance.US	500+	0.10%	60+	30+
Coinbase	400+	0.40-0.60%	30+	25+
Gemini	200+	0.20-0.40%	20+	15+
Crypto.com	700+	0.075-0.40%	80+	50+

Our Top Picks

Best Overall

Kraken

Kraken excels at crypto-to-crypto with deep liquidity on major pairs. You'll find BTC, ETH, and USDT/USDC pairs for most listed assets. The 0.16% maker fee keeps costs low, and order book depth means minimal slippage even on larger trades.

Popular pairs: BTC/ETH, ETH/USDT, SOL/BTC, DOT/ETH, LINK/BTC

✓ Deep liquidity ✓ Low fees ✓ 48 US states

Lowest Fees

Binance.US

Binance.US has the lowest flat fee at 0.10% and mirrors much of the global Binance pair selection. Great for active traders who want to minimize costs. The catch: not available in NY, TX, and several other states.

✓ 0.10% flat fee ✓ Many altcoin pairs ✗ State restrictions

Most Pairs

Crypto.com

Crypto.com lists 350+ coins with aggressive pair offerings. Good for finding obscure altcoin-to-altcoin trades. Base fees are higher unless you stake CRO, but pair variety is hard to beat in the US market.

✓ Most trading pairs ✓ CRO staking discounts ⚠ Higher base fees

Common Crypto-to-Crypto Strategies

Portfolio Rebalancing

If your target allocation is 60% BTC / 40% ETH and prices shift, you can swap directly between them to rebalance. One trade, one fee, done.

Stablecoin Rotation

Moving from volatile assets to USDC or USDT during downturns—without touching your bank account. Quick, efficient, and keeps you in the crypto ecosystem.

Altcoin Trading

Trading smaller altcoins often requires going through BTC or ETH as a base pair. Exchanges with more direct pairs (like SOL/AVAX) save you an extra hop.

Liquidity Matters

Having a trading pair available is one thing. Having enough liquidity to trade without moving the price is another. Here's how major pairs compare:

Pair	Kraken	Coinbase	Binance.US
BTC/USDT	Excellent	Excellent	Excellent
ETH/BTC	Excellent	Excellent	Excellent
SOL/ETH	Good	Limited	Good
LINK/BTC	Good	Limited	Good

Tip: For trades over $10,000, always check the order book depth before placing a market order. Use limit orders to avoid slippage.

Frequently Asked Questions

Are crypto-to-crypto trades taxable? +

Yes. In the US, swapping one crypto for another is a taxable event. You realize gains or losses on the asset you're selling, even if you never touch USD.

What if there's no direct pair for my trade? +

You'll need to route through an intermediary. Example: To swap AVAX for LINK with no direct pair, go AVAX→USDT→LINK. Two trades, two fees—this is where pair availability matters.

Is it better to use USDT or USDC as a base pair? +

Both work. USDT has more pair availability globally; USDC is more trusted in the US due to Circle's transparency. Liquidity is comparable on major US exchanges for both.

Can I use a DEX for crypto-to-crypto trading? +

Yes, decentralized exchanges like Uniswap offer endless pair combinations. However, fees can be higher (gas + swap fees), and slippage is often worse than centralized exchanges for larger trades.