Read this first. Crypto is highly speculative and can lose most or all of its value. It isn't a bank deposit, it isn't FDIC-insured, and SIPC generally doesn't cover it. For most retirees the right amount is a very small share of savings, or none. Anyone who asks you to pay, "invest," or move money in crypto, or who promises guaranteed returns, is almost certainly a scammer.
If you still choose to buy, the exchanges below stood out for published fees, U.S. oversight, and transparency. These are plain links, we don't earn anything from them, and listing an exchange is not a recommendation to buy crypto.
Low exchange fees, but the app's prices include a spread plus a fee
Key takeaways
Updated 2026-10-28.
Crypto prices can swing sharply and can fall to zero. Regulators warn: don’t invest money you can’t afford to lose, which for many retirees means a very small share or none.
Crypto held on an exchange is not a bank deposit. FDIC insurance doesn’t cover crypto, and SIPC protection may not apply.
Only scammers demand payment in crypto or guarantee returns. Be extra careful with crypto “opportunities” from new online contacts.
If you do buy, compare security practices, total fees (including spreads), state licensing, and how you would get help if locked out.
Our reviews
Pick #1
Gemini
Best for regulatory transparency
Our rating: Not star-rated. Qualitative award; see Methodology.
Gemini Trust Company, LLC: New York State-chartered trust company and qualified custodian; NMLS #1518126
Crypto is not FDIC-insured
Why we chose it
A New York trust charter means a state regulator supervises how Gemini holds customer assets. We think that's the most important factor for anyone holding crypto.
Pros
State trust-company oversight (NYDFS)
Clear published fee schedule
Cons
Base fees are the highest of the pro platforms we checked
Crypto prices can still fall sharply; oversight doesn't protect against losses
Who should skip it
Anyone investing money needed for living expenses, or anyone contacted by a stranger about crypto.
App prices include a spread plus an admin fee shown in the trade preview
US prepaid Visa card top-ups: 2.99% by credit card, 1% by debit card
Why we chose it
Its exchange fees are low, but most people use the app, where spreads and fees add to the cost. We list it so you can compare, not as a recommendation.
Pros
Low exchange maker/taker fees
Cons
App spread plus admin fee
Card top-up fees
Heavy promotional marketing
Who should skip it
Most retirees, and anyone who wouldn't check the full trade preview before every buy.
Figures change often. Each row shows the date we checked it; confirm on the provider's site before you decide.
Exchange
Lowest-tier pro fees (maker / taker)
Simple-buy pricing
Oversight noted
Checked
Gemini
0.60% / 1.20%
See Gemini fee schedule
NY trust company; NMLS #1518126
2026-10-28
Kraken
0.40% / 0.80%
Instant Buy priced separately
2026-10-28
Coinbase
0.50% / 0.90%
Spread on simple buys; 1% simple limit orders
2026-10-28
Crypto.com
0.25% / 0.50% (Exchange)
App spread + admin fee
2026-10-28
How to choose
Crypto exchanges let you buy, sell, and sometimes hold digital assets like bitcoin. Before comparing platforms, decide whether crypto belongs in your plan at all. FINRA and the SEC warn that crypto assets are highly volatile, can be hard to sell in a downturn, and may lose all their value. For money you’ll need for living costs in retirement, that risk deserves real weight.
Understand what isn’t protected. Crypto on an exchange is not a bank deposit, so FDIC insurance doesn’t cover it. SIPC protection generally covers securities and cash at member brokerages and may not apply to crypto. If a platform fails or is hacked, getting money back can be slow or impossible.
Compare total cost. Exchanges charge in different ways: trading fees, a “spread” built into the price, and fees to deposit or withdraw. Look at the all-in cost of a typical purchase, not just the advertised fee.
Check security and oversight. Look for strong two-factor login, clear custody explanations, and the licenses the platform says it holds in your state.
Watch for scams. The FTC says only scammers demand payment in crypto, guarantee profits, or mix online romance with investment tips. If someone pressures you or a parent to move savings into crypto, stop and talk to someone you trust.
Plan for taxes and family. The IRS treats digital assets as property, and sales may be taxable. Write down where any crypto is held and how a trusted person or executor can reach it.
Frequently asked questions
Is crypto a good investment for retirees?
It is high risk. Regulators warn it can lose all value. Many retirees keep it to a very small share or skip it.
Is crypto on an exchange insured?
Not by the FDIC. SIPC protection may not apply. Check the platform’s disclosures.
How do I spot a crypto scam?
Guaranteed returns, pressure to act fast, payment demanded in crypto, or investment tips from someone met online are classic warning signs.
Do I pay taxes on crypto?
The IRS treats digital assets as property; selling or exchanging them may create a taxable gain or loss.
What happens to crypto when someone dies?
It depends on how it’s held. Without account access or recovery details, heirs may struggle to reach it. Keep records with your estate documents.
What fees do crypto exchanges charge?
Trading fees, spreads, and deposit/withdrawal fees vary. Compare the total cost of a typical purchase.
Methodology
We reviewed 4 providers' public pricing, rate, and disclosure pages on 2026-10-28. We don't assign star scores. Each pick gets a qualitative "Best for…" award based on the criteria below, and "Preliminary" marks picks where our research is still thin. Partner or affiliate status plays no role in which providers we pick or how we rank them.
We evaluated providers on:
Security: two-factor authentication options, custody practices, published proof-of-reserves or audits (where available), incident history
Oversight: U.S. registration/licensing (e.g. FinCEN MSB registration, state money transmitter licenses, NY BitLicense where relevant)
Total cost: trading fees, spreads, deposit/withdrawal and network fees
Transparency: clear risk disclosures, fee schedules, and tax reporting documents
Support: reachable human support, account recovery, fraud reporting
Family/estate considerations: beneficiary or estate-access process
All rates, fees, and terms are shown with the date checked; check current rates before acting. Affiliate relationships do not affect scores.
YouRetire Editorial writes for families planning retirement and care. We use regulator and government sources, show when we last checked data, and don’t let partners buy ratings. Read how we review and our editorial standards.
This guide is educational and not individual financial, tax, insurance, or legal advice.
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