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If you\u2019re not investing in cryptocurrencies yet but you\u2019re curious about the digital coin space, welcome to the crypto-curious club. Gemini<\/a>, one of the biggest crypto brokers, estimates that 63% of Americans are crypto-curious \u2014 a cohort that\u2019s more than four times the size of actual crypto investors.<\/p>\n A variety of reasons could be keeping would-be investors on the sidelines, including discomfort with the idea of investing in a relatively new asset class, warnings about fraud, hacks, or scams, and wild price moves in digital coins. For some people, there\u2019s also a more practical hurdle: The logistics don\u2019t yet justify making the leap from crypto-curious to crypto owner.<\/p>\n That\u2019s because cryptocurrencies aren\u2019t yet available at the institutions where a majority of Americans currently invest, including workplace retirement accounts or many online brokers. While Charles Schwab andTD Ameritrade are among brokers that allow customers to trade bitcoin futures, they have yet to embrace trading the cryptocurrencies themselves.<\/p>\n \u201cI\u2019m still shocked that more of them haven\u2019t gotten there yet,\u201d David Siemer, chief executive officer of Wave Financial, says of the biggest online brokers. Many of these companies are looking to adopt crypto trading \u2014 fees are \u201cridiculously\u201d higher than with stock trading, Siemer says, which helps the brokerages. But it could be several months, at least, before that happens, he says .\u00a0<\/p>\n Among the relatively few options available to crypto investors who want access to a broad suite of assets, Robinhood, TradeStation and SoFi Invest may fit the bill. Here\u2019s how they compare:<\/p>\n Robinhood<\/a> moved the needle for the entire stock trading industry by offering zero commission on trades \u2014 a policy which also applies to cryptocurrencies. U.S.-based investors can currently trade seven of the biggest cryptocurrencies, including bitcoin, ethereum, dogecoin, and litecoin. The catch is that unlike some crypto brokers (like Coinbase), Robinhood doesn\u2019t offer a digital wallet or a way to move coins unless they\u2019re sold for U.S. dollars.\u00a0<\/p>\n Beyond cryptocurrencies, Robinhood supports buying and selling stocks, exchange-traded funds (ETFs) and options contracts. While trading is free, Robinhood makes money by routing orders to high-speed trading firms \u2014 a practice that came under\u00a0 scrutiny as the company prepared for its initial public offering (IPO)<\/a> over the summer. Robinhood is a strong choice\u00a0 for both crypto and non-crypto investors, as it makes the cut on Bankrate\u2019s lists of\u00a0 both best online brokers and best brokers for crypto trading.<\/p>\n TradeStation offers direct trading of cryptocurrencies with its dedicated TradeStation Crypto platform. Crypto trading isn\u2019t commission free; customers must pay a 0.3% fee if their account balance is less than $100,000 \u2014 though rates fall to as low as 0.05% with more than $1 million invested. Only a handful of coins are available, including bitcoin, bitcoin cash, ethereum, and litecoin. Tradestation does offer commission-free traders on some equities, equity options and futures trades.<\/p>\n TradeStation doesn\u2019t offer a crypto wallet, though you can deposit and withdraw crypto. This broker offers a fairly unique feature that Gemini<\/a> does, as well: You can earn interest on crypto holdings. For investors looking for a broad suite of assets for their portfolio, TradeStation also offers stocks, bonds, mutual funds, ETFs, options and futures many of which come with zero trading commissions.\u00a0<\/p>\n Overall, its crypto capabilities are solid. StockBrokers.com named TradeStation the best trading platform for trading bitcoin, and NerdWallet has recognized TradeStation Securities as a winner of the 2022 best online broker for stock trading platform and research.<\/p>\n While SoFi began as a student loan and refinancing company, it has since expanded into nearly every facet of personal finance \u2014 though investing still is relatively new.\u00a0<\/p>\nRobinhood: Free trading, but with a catch<\/h4>\n
TradeStation: A way to earn interest, but fees apply<\/h4>\n
SoFi: More coins, less track record<\/h4>\n