If you are looking to purchase or sell cryptocurrency opening an account at a cryptocurrency exchange is an excellent option.
They function in the same way as platforms for online brokerage, providing users with the tools they need to sell and buy digital tokens and currencies like Bitcoin, Ethereum, and Dogecoin.
When selecting a cryptocurrency exchange, it is important to consider factors like the supported assets and fees, payment methods, and security.
To assist you in finding the Facts About Best Crypto Exchange, we looked at these aspects when deciding on this list of the top cryptocurrency exchanges.
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Facts About Best Crypto Exchange
The Top Crypto Exchanges for 2022
- Best All-Round and Best for Beginning Users: Coinbase
- The Best Mobile Application: Crypto.com
- Best for Security: Gemini
- Ideal option for Altcoins: BitMart
- Best for low fees and the Ideal for Traders with Experience: Kraken
- The best option for Bitcoin: Cash App
- Best Decentralized Exchange: Bisq
Investing in cryptocurrencies or Decentralized Finance ( DeFi) and Other Initial Coin Offerings (ICOs) can be extremely uncertain and speculative. The market are extremely unstable. Make sure to consult a licensed professional before making any financial decision. This article does not constitute a recommendation from Investopedia or the author to invest in cryptos and neither can the reliability or time-to-date of the information be assured.
Also Read: Facts About Crypto Supercharger
Best Crypto Exchanges
The best overall and the most effective for Beginner’s Coinbase
- No. Foreign Currency Tradeable 150+
- Transaction Fees 0.00 percent to 0.60 percent
- Minimum Buy or Deposit: $2
Receive $10 worth of BTC when you sign up using promo code: INVESTO10.
The Reasons We Choose Them?
Coinbase is our top choice as the best cryptocurrency exchange and is the most reliable exchange for novices. It provides a variety of supported cryptocurrencies as well as a high degree of security. Besides being a user-friendly platform for beginners, Coinbase also provides an advanced trading platform — Coinbase Professional–making it an excellent choice for experienced traders.
Pros and Pros and
Pros
- A large number of cryptocurrency and trading pairs
- It offers both beginner-friendly and advanced trading platforms
- Highly liquid exchange
Cons
- Service quality is not top-quality.
- Coinbase.com is a custodial account , which means you aren’t in control of the private keys
Overview
Coinbase was created in 2012 to help customers easily purchase, sell, and store Bitcoin. Now, fast-forward to the present day, Coinbase is a public-traded cryptocurrency exchange with more than $36 billion in market capitalization. 1
The original San Francisco-based cryptocurrency exchange has evolved into a geographically distributed company with no central office and is accessible in over 100 countries. It is notable for its easy-to-use trading experience, secure and reliable security, and various sophisticated options for experienced traders.
Due to its wide range of assets supported (150plus) and user-friendly website, Coinbase has become the most popular exchange choice for many first-time crypto investors. Coinbase’s platform has the look and feel of an online bank appthat a lot of people already use and makes the move to investing in crypto a breeze.
Coinbase also guarantees its digital assets on behalf of its users and store U.S dollars on Federal Deposit Insurance Corporation (FDIC)-insured accounts, which can prevent loss of funds for users in the event of an attack on security. Trading accounts can be funded using various payment options, including the wire transfer and ACH transfer.
Additionally, Coinbase also offers options for storage of cryptocurrency. One is a custodial choice for those just beginning their investment: keeping your crypto with Coinbase.com. Coinbase.com exchange. Another alternative is a wallet that is not custodial (Coinbase wallet) for more experienced crypto users. When you store your crypto with Coinbase.com, Coinbase holds the private keys and efficiently manages funds on behalf of the user. Through Coinbase Wallet, the user is completely controlling their money since they have the private keys to the wallet.
Although Coinbase is a great option for both novice and experienced crypto traders, fees for trading are often high, with prices ranging between 0% and 0.60 percent, based on trading volume. Additionally, Coinbase’s customer feedback is not very positive. For example, several Trustpilot users have reported issues with customer service. There are also numerous reports of unplanned account closures which have stained the trust platform’s reputation.
Even with these limitations, Coinbase is still worth looking into due to its numerous positive aspects.
THE BEST MOBILE APP: Crypto.com
- No. Currency Available for Trade more than 250
- Transaction Fees 0.04 percent to 0.4 percent
- Minimum Buy or Deposit: $1
Why We Decided to Choose This?
We picked Crypto.com as the most reliable mobile crypto exchange application because it offers a vast investment and trading ecosystem which you can easily access using your smartphone.
Pros and Pros and
Pros
- Supports more than 250 cryptocurrency
- Offers a variety of cryptocurrency-related products
Cons
- High fees, but not surprisingly so.
- Poor customer support
Overview
In 2016, the company was launched. Crypto.com has established its place among the most reputable cryptocurrency exchanges in the world. It’s currently available in over more than 90 countries around the world and can support more than 250 cryptocurrency.
In addition to providing an array of associated assets Crypto.com offers a huge digital asset marketplace that is comprised of their Blockchain, Crypto.org Chain; a native token, CRO; a cryptocurrency visa card and yield-generating crypto products and much more.
What stands out most what stands out the best is Crypto.com mobile application. Although many crypto exchange mobile applications offer a diluted version of the platform’s web-based counterpart, Crypto.com put a strong effort into creating an application that provides a broad range of features and products to allow users to benefit from the exchange’s services when they are on the move. Users of the mobile app can purchase and sell, trade and earn an interest rate on their crypto and pay for their purchases using cryptocurrency.
Although Crypto.com provides a wide array of features and products however, the customer service is not as good as per TrustPilot reviews of customers who have been with them for a while and write negative reviews. In addition, if you don’t trade in larger volumes it is possible to pay a high costs for trading that can reach 0.40 percent.
Suppose you’re searching for an outstanding digital trading experience that is mobile. In that case, Crypto.com is arguably the most suitable choice due to its wide range of features and products and its huge variety of assets that are supported.
THE BEST CHOICE FOR SECURITY: Gemini
- No. Currencies for Trade Available More than 75
- Transaction Fees $0.99 up to $2.99 for small purchases. 1.49 percent of purchases over $200.
- Minimum purchase or deposit: It varies with the asset
Why We Decided to Choose Them?
We’ve chosen Gemini as the cryptocurrency exchange with the most secure security due to its robust security protocols, guarantees the user’s funds and is certified by SOC 2.
Pros and Pros and
Pros
- Users can access the service in the 50 U.S. states
- Highly liquid exchange
- Insures the funds stored in hot wallets.
- Secure framework for security
Cons
- Many traders have high fees.
- It does not support cryptocurrencies as well as most of the exchanges that compete
Overview
In 2014, Gemini was launched with the help of Tyler And Cameron Winklevoss in 2014, Gemini is notable by putting a heavy emphasis upon security, compliance and. The exchange based in New York has hot wallet insurance that makes sure that user funds are safe in an attack on security. In addition, it requires users to go through an identity verification process to minimize the risk of fraud.
Gemini also encourages its users to use two-factor authentication to safeguard their accounts. Gemini also offers the option of reviewing and approve the devices used to sign in to their trading account. Another notable security feature of Gemini is that it is SOC2-certified, which indicates that auditors from third parties have confirmed Gemini’s security and compliance frameworks.
Gemini offers a high-end trading platform that supports more than 75 tokens and digital currencies with advanced trader in mind. Gemini also has an cryptocurrency reward card that lets users purchase goods and services by using cryptocurrency.
Gemini’s main platform and its active trading platform both have different fees structure. The main platform has fixed amounts for smaller trades and a high 1.49 percent for trades that exceed $200. The active trading platform charges maker-taker fees of up to 0.4 percent, with reductions as your volume increases. They are also somewhat high. However, paying the expensive price could be a minor cost for Gemini’s secure security.
Investors and traders who want to trade on a secure platform will be delighted by the benefits Gemini can offer.
The BEST ALCOINS: BitMart
- No. Currencies to Trade More than 1,000
- Transaction Fees 0.045 percent up to 0.25 to %
- Minimum deposit or purchase: $30 when buying at Bitmart and unspecified to spot traders.
The Reasons We Choose It
BitMart is our top choice among the top alternatives for altcoins since it allows customers from more than 180 countries to purchase and sell over 1000 cryptocurrencies.
Pros and Pros and
Pros
- Provides support for a wide range of cryptocurrency
- Offers opportunities to earn cryptocurrency
- Provides a simple sell/buy cryptocurrency feature
Cons
- The hacker was large-scale in 2021.
- Received poor reviews from customers.
Overview
In 2017, the company was established. BitMart was established in 2017, and is a worldwide cryptocurrency exchange, which is accessible in more than 180 countries. Users can purchase, sell and store more than 1,000 digital currency and tokens.
Established within the Cayman Islands, BitMart has established itself as a top trading platform for mid- and small-cap crypto. BitMart provides more trading and asset pairs than its top competitors and investors looking to add recently launched or obscure cryptocurrency investments to the portfolio can discover what they’re seeking on this exchange.
In addition, BitMart customers can use the Earn feature to earn interest on crypto assets held through the exchange. Customers can also avail reductions on fees for trading when they own its native currency, BMX.
Although BitMart offers a lot to offer those experienced in trading crypto, the exchange has experienced negative customer feedback throughout the time. For instance, numerous complaints from Trustpilot users have reported issues with withdrawals, poor customer service, and insufficient transparency. There are, however, at least some favorable reviews, too.
Additionally, BitMart suffered a security breach in December 2021 which led to losing $196 million of the user’s cash. 2 While BitMart has stated that it will reimburse customers affected by the breach, the attack has left a huge mark in the image of the exchange.
However, despite these limitations those who are who are interested in trading a broad assortment of lesser-known cryptocurrencies will find the cryptocurrency they’re looking for at BitMart.
Best for LOW FEES and the best for experienced TRADERSKraken
- No. Foreign exchange currencies available for trade The number of currencies available for trade is 120+.
- Transaction Fees 0.00 percent to 0.26 percent
- Minimum purchase or deposit: $1, but could vary with different methods.
The Reasons We Choose Them?
Kraken’s high-end trading platform, Kraken Pro, is our top choice for the most low-cost exchange, as it has one of the lowest costs available in the world of crypto exchanges. Kraken Pro is also our top choice for experienced traders since it has advanced order types and supports the trading of futures and margins.
Pros and Pros and
Pros
- Many cryptocurrencies supported
- Lower fees on Kraken Pro
- Highly liquid exchange
Cons
- In every U.S. states
- Optional funding for limited accounts
Overview
In 2011, the company was established and is available across the globe, Kraken is one of the most reliable cryptocurrency exchanges available. The exchange in San Francisco allows users to purchase and sell more than 120 cryptocurrencies and charges low fees for its high-end trading platform, Kraken Pro.
This highly-featured crypto exchange has established itself as the preferred platform for professionals during the beginning of the cryptocurrency market. It has maintained its status as a trustworthy and professional trading platform.
Kraken provides two platforms: its main trading platform and Kraken Pro, its professional platform. Kraken Pro. Kraken Pro is the Kraken Pro platform’s Pro dashboard is highly customizable and offers tool for analysis of charts, in-depth information on the order books, 13 different order types, and fast execution. Alongside spot trades, Kraken clients can trade cryptocurrency on margin and execute the trading strategies for crypto derivatives.
Although the instant buy charges for Kraken’s primary platform are expensive–up to 1.5%–fees for Kraken Pro are quite low. Kraken Pro offers a tiered fee structure that allows for high volume traders to cut down on charges for trading. For traders who have a 30-day volume that are less than $50,000 Kraken Pro’s maker fees begin at 0.16 percent and taker fees begin at 0.26 percent. However, maker fees could fall as low as zero percent, while taker fees can be reduced to 0.10 percent (for traders with rolling volumes exceeding 10 million dollars).
Additionally, Kraken has limited funding choices, with wire transfers being the most popular payment method available to Kraken users. ACH transfers aren’t supported.
The BEST APP FOR BITCOIN CASH
the Rating of Investopedia4.2
- No. Currency Available for Trade 1.
- Transaction Fees Varies
- Minimum Buy or Deposit: $1
Why We Decided to Choose This?
We picked Cash App as our top option among the Bitcoin-only exchanges since it allows you to effortlessly and securely purchase or sell and even store Bitcoin via your mobile.
Pros and Pros and
Pros
- Simple-to-use interface
- Pay out into wallets
- The Bitcoin Lightning Network is supported.
Cons
- Bitcoin supports only Bitcoin
- Custodial wallet
- Various limits on deposits, sales etc.
Overview
It was launched at the end of 2013, by Block, Inc. (formerly Square, Inc.) the Cash App allows users from both the United States and the United Kingdom to make and receive payments and bank and invest. It’s essentially a mobile banking application specifically designed for peer-to peer payments however, it also includes an investment aspect.
It lets users invest in ETFs, stocks and Bitcoin through the Cash App. In contrast to its competitors, including Robinhood or Venmo, Cash App also allows users to withdraw their Bitcoin to third-party wallets, making Cash App stand out from its competitors.
In the early 2022 timeframe the Cash App’s Chief Executive Jack Dorsey announced that the company is rolling on support for Bitcoin Lightning Network that will allow almost instant Bitcoin transfers for almost zero cost.
The primary drawback to using Cash App to buy and store Bitcoin is that the app’s wallet is custodial. This means that the company manages all your Bitcoin on your behalf of you. While custodial accounts can be practical, they’re considered less secure than non-custodial ones. Since you can withdraw your Bitcoin through the Cash App, you can transfer your Bitcoin to your wallet, to which you can keep your private keys.
Cash App’s Bitcoin trading charges vary. They will only be displayed when you’re required to verify your purchase and sell transactions. If you trade bitcoins, Cash App uses the middle price and adds an additional spread fee.
BEST DECENTRALIZED EXCHANGEBisq
- No. Currencies to Trade 100+
- Transaction Fees 0.10% up to 0.70 percent
- Minimum Payment or Deposit: N/A
The reason we choose it
Bisq is our choice as the top decentralized exchange, because it allows users from all over the world to safely and privately purchase and sell cryptocurrency.
Pros and Pros and
Pros
- All available worldwide
- It offers a high degree of security, with no ID verification is needed
- 50+ different payment options
Cons
- The speed of transactions can be slow
- Trading volumes can be low
- Not designed to be used for active trading.
Overview
The software was introduced in 2014 and is an open-source crypto trading system that allows people worldwide to trade an assortment of tokens and digital currencies through a peer-to-peer method. Bisq currently supports more than 100 cryptocurrency assets.
The exchange is not centralized and doesn’t require users to undergo a Know Your Customer (KYC) identity verification process. Nor is it restricted to customers in specific countries. Bisq allows Bisq to buy and sell Bitcoin and other cryptocurrencies by a variety of payment options such as transfers via bank wire, ACH transfers, and cash deposits.
While Bisq is loved by those who were early adopters of cryptocurrency because it adheres to many of the principles that Bitcoin was founded on, including decentralization and privacy and sovereignty, it is also a bit of a hindrance for new users platform isn’t a great choice for novices.
The escrow system used in the peer-to-peer trading system can be difficult for first-time users, while the slow execution of trades can deter new users and active traders. In addition, the exchange is focused on making smaller trades since the volume of trades is lower than those on global exchanges that are centralized.
However, for experienced cryptocurrency traders who prefer trading using a decentralized, free of KYC, Bisq has everything you need to sell and buy cryptocurrency.
Final Verdict
If you’re planning to start your journey into investing or trading in cryptocurrency in the cryptocurrency market, selecting the right exchange that meets your needs is vital. If you’re looking for a vast amount of digital assets to exchange, the least costs, or the best user-friendly experience for beginners, There is an ideal choice for you.
Our top choice overall, Coinbase, could be the perfect exchange If you’re looking for a user-friendly platform that can support a wide range of cryptocurrencies. If you’re looking for a low-cost exchange, and you are looking for a low-cost exchange that is affordable for you, Kraken Pro could be the best option. Take note of your objectives and priorities and select the most suitable exchange for your needs.
