Crypto Investment Platforms
Approximately $13 billion worth of cryptocurrency is traded on exchanges every day. This number will continue to grow as more investors warm up to investing in digital assets.
If you are looking for the best cryptocurrency exchange, I have something to share. Here I will talk about the best exchanges of 2022. The list includes popular names like Coinbase, Binance, Gemini, Kraken, and eToro. Creating this list gives you the basic information about each of such crypto exchanges.
Here, you can learn the key distinctions and features of these exchanges. For instance, Coinbase comes with a user-friendly interface, which isn’t the case with Binance.US. Besides, Kraken tends to be a much cheaper option when compared with eToro, as Kraken charges a reasonable transaction fee.
Are you interested in knowing more about the top crypto exchanges of 2022?—If yes! Let’s dive into the main content of this guide.
Table of Contents
Centralized Cryptocurrency Exchanges for 2022
Although various crypto exchanges exist worldwide, and even the number is growing day by day. But you don’t need to check each as it is a time-wasting process, and you may get confused during the selection, especially if you are new to the crypto world.
We have prepared a list of only the top 10 best crypto exchanges that are viable to choose from in 2022. So, let’s get started!
Founded in 2012, Coinbase was among a few of the crypto exchanges that people were being used to store, buy, or sell Bitcoin.
Coinbase is one of the best cryptocurrency exchanges, with more than $36 billion. And that’s why it comes 1st on our list of best crypto exchanges 2022.
The first and most impressive feature of Coinbase is its easy-to-use interface. Coinbase makes it possible to buy or sell a comprehensive selection of cryptocurrencies. Coinbase is also one of the safest crypto exchanges with two-factor authentication.
Besides, the crypto exchange also offers educational content on a wide range of topics, including blockchain and volatility. With Coinbase, you can conveniently and quickly learn the basics of crypto trading.
This platform offers two different options for storing crypto. New crypto investors can access the custodial storage option, where the coins are kept in possession of ‘Coinbase.com’ exchange. In this arrangement, Coinbase stores the coins on behalf of its owner. Besides, the private keys are also held by Coinbase.
On the contrary, experienced investors can use a non-custodial option offering a Coinbase Wallet. A user can hold the private keys and exercise complete control over the stored crypto with this wallet.
Though Coinbase exchange charges high fees, it’s still considered a viable choice for crypto investors and beginner friendly platform for new Bitcoin investors.
⦁ Supports a large number of cryptocurrencies (150+)
⦁ Affordable conversion and trading fees
⦁ One of the largest and most trusted crypto exchanges worldwide
⦁ It offers a variety of trading pairs
⦁ Helpful materials, including data graphs and charts
⦁ Allows fast crypto trading
⦁ Provides independent platforms for beginners and advanced traders
⦁ Customer service needs to perform better
⦁ Beginners can’t hold the private keys
Kraken started its journey back in 2011, and now it stands among the most well-known crypto exchanges around the globe. Kraken is a perfect choice for both beginners and professional traders.
It supports over 120 cryptocurrencies, including stable coins i.e. USD Coin, Tether, and Dai. Furthermore, buying and selling crypto with Kraken is a straightforward affair. You can directly buy the desired amount of crypto through your bank account. Hence, depositing the amount in a Kraken account isn’t necessary for this purpose.
There are two different versions of Kraken. The regular trading platform by Kraken is highly suitable for beginners. On the other hand, Kraken Pro is a professional version of a specifically designed platform for experienced traders. . The Pro dashboard offers a range of custom charts, graphs, and other analysis tools.
In addition to the availability of 13 order types, Kraken Pro is also known for its high-speed execution. Usually, professional-grade platforms are pretty expensive. However, Kraken charges a low transaction fee. Furthermore, Kraken Pro is loaded with unique features that are highly beneficial for experienced traders.
Kraken offers two major trading options, futures. The margin trading allows the users to borrow crypto for trading purposes. On the other hand, Futures trading gives you the freedom to buy or sell crypto at a predetermined price on a future date.
⦁ It supports over 120 cryptocurrencies
⦁ Low account minimum requirements
⦁ Provides key educational resources
⦁ Kraken Pro is quite affordable
⦁ High-class cyber security ratings
⦁ It doesn’t allow transferring funds through ACH
⦁ Less effective customer service
If you ask, ‘What is the biggest crypto exchange?’ Binance is the answer. The exchange was launched back in 2017, and now it has already become the largest cryptocurrency exchange when it comes to trading volume. Binance has over 10 million users on their platform.
This particular crypto exchange features a reasonable fee structure (charges maximum 0.1% maker/taker fee). It is an ideal platform for both amateur and experienced traders. Binance.US is the domestic version that offers similar features as promised by the parent company.
Apart from BNB (proprietary cryptocurrency Binance), this cryptocurrency exchange allows you to buy/sell over 365 crypto coins. Particularly if you are searching for an option that is best for earning interest, Binance can be your best bet. You can earn interest by staking your coins, ranging between 0.5 to 10%.
Buying crypto is easy with Binance. You can choose from multiple funding options, including credit/debit cards, bank transfers, and bank deposits.
Talking about security, Binance relies on a 2-Factor Authentication, and a significant portion of the asset is insured.
Since this exchange allows you to buy crypto assets directly with USD, you can save some money by not paying the conversion fees. Advanced users can enjoy a range of discounts and benefits.
Above all, the platform offers various orders such as market orders, stop-limit orders, and limit orders.
⦁ Works with more than 50 cryptocurrencies
⦁ Highly reputable crypto exchange
⦁ Ideal for experienced traders
⦁ User-friendly interface
⦁ Affordable trading fees
⦁ Best for earning interest
⦁ It offers a vast selection of order types & trading options
⦁ It also provides a few advanced security features
⦁ Not suitable for beginners
⦁ Lacks a digital wallet
eToro was established in 2007, and now it’s one of the best in business. eToro allows you to buy or sell over 20 different crypto assets. With an extensive range of tradable coins, a user-friendly & highly secure interface, and over 17 million active users, the eToro crypto exchange has earned the reputation of a popular trading platform. And the cryptocurrency exchange is widely available in 140 countries.
eToro allows you to invest in both stocks and crypto-assets. Not only this, but eToro is also suitable for Contract for Differences (CFDs) trading.
Despite being a multiple asset platform, eToro offers a smooth experience for its users. It gives you the freedom to choose the trading CFDs directly by using the trade-ticket window—this valuable feature when making multiple trades.
However, it has a minimum trade barrier of $10. Besides, the trade fee is much higher. eToro charges 0.75% to 2.90% depending on the trading volume. Almost 200 cryptocurrencies can be traded by paying a 1% commission (flat-rate). Furthermore, crypto to crypto conversion costs 0.1%.
The eToro-X can be the best choice for those more inclined toward trading cryptocurrency. This particular platform charges a comparative trading fee. However, it lacks features like the range of markets or CFD trading available with a regular eToro platform.
⦁ Best for copy trading
⦁ It comes with a user-friendly interface
⦁ Offers indemnity insurance
⦁ Additional perks for advanced members
⦁ It doesn’t charge commission fees
⦁ Over 3000 trading symbols
⦁ Offers 47 trading pairs
⦁ High trading fees
Since its launch in 2014, Gemini has been a trusted name in terms of compliance and security. It offers hot wallet insurance that ensures the safety of the stored funds in the event of a security lapse. To add another layer of protection, this platform makes it mandatory for the users to complete the ‘Know Your Client’ (KYC) process.
Another feature that improves the security level is the SOC 2-certification. This means the third-party auditors have verified Gemini for meeting the compliance and security requirements. Gemini relies on two-factor authentication that prevents unauthorized access to any trading account.
Gemini is also a suitable platform for advanced crypto investors and traders. Because it comes with a trading dashboard designed for professional-grade traders, it supports more than 75 cryptocurrencies.
The fee structure differs depending on the type of trade. For small trades, Gemini charges a fixed fee. However, for trades over $200, it demands a very high cost (1.49%). However, this might be a small price for the robust security ensured by this platform.
⦁ Available throughout the U.S
⦁ Insured hot wallet
⦁ Extraordinary security features
⦁ Suitable for pro investors & traders
⦁ Faster order completion/execution
⦁ Offers charting tools, auctions
⦁ Crypto trading pairs
⦁ Funds transfer through ACH or wire is free
⦁ Best for earning interest
⦁ Supports fewer cryptocurrencies
⦁ Complex fee schedule
⦁ High fees on many trades
Crypto.com started its journey in 2016, and now it has established itself as one of the leading global crypto exchanges. Though it comes at 6th in our list, the Crypto.com exchange stands first among the top 100 exchanges ranked by the cyber security ranking platform.
Crypto.com supports many crypto assets and is available globally in more than 90 countries. The exchange also offers additional features such as a crypto visa card and specifically designed crypto products for yield-generating. It also has a native token named CRO.
Besides, Crypto.com is a highly secure cryptocurrency exchange, as it relies on a multiple-layer protection mechanism. It uses different techniques to ensure better security of the stored crypto.
Cold storage is one of these strategies that prevent the stealing of crypto assets. Additionally, a multi-factor identification mechanism involves passwords, email, biometrics, and phone verification.
Apart from security, this platform has a list of more than 250 tradable coins. Non-custodial DeFi wallet is another impressive feature of Crypto.com. Users can earn interest and transfer their crypto at a preferred speed with this option.
With prepaid visa cards, margin trading, crypto loans, and the opportunity to earn interest, Crypto.com provides its users maximum financial stability and convenience. Furthermore, Crypto.com offers a perfect crypto trading experience through its mobile app.
⦁ Offers monthly interest
⦁ Backed by regulatory institutions
⦁ No monthly charges or trading commission
⦁ Supports more than 250 crypto assets
⦁ Comes with different cryptocurrency products
⦁ Comparatively high trading fees
⦁ Crypto products are available in limited states
⦁ Less impressive customers service
Uphold came into existence in 2015, and now it is available in 180+ countries around the globe. With this platform, you can try your hands on many financial services and products. You can buy/sell 100 different cryptocurrencies and tokens with ease.
At present, there are over 1.7 million users on Uphold. The fee structure is relatively different, as this platform doesn’t charge any maker-taker or deposit fees. On the contrary, you have to pay a small premium over the market value of a crypto asset.
With Uphold, you can enjoy an unparalleled financial experience. Apart from buying crypto, you can also purchase precious metals and U.S. equities via this crypto exchange.
The cashback debit card is another feature that allows you to make purchases while using your assets available on Uphold.
Uphold has a user-friendly interface that ensures the best possible trading experience. Both the desktop version and mobile app work perfectly. Since the platform is designed for beginners, it is a viable choice for new traders.
This platform doesn’t charge any type of trading commission. On the contrary, it charges spread fees on the buying and selling of the on the platform.
Uphold only settles for the most trusted security measures as far as security is concerned. To ensure the safety of crypto funds, it relies on two-factor authentication and KYC verification. For further protection, user funds are kept in cold storage.
All in all, Uphold is an excellent choice if you are interested in features like crypto rewards and multi-asset trading.
⦁ 0% trading commissions
⦁ Allows buying/selling 100 different types of cryptocurrencies
⦁ Highly secured platform
⦁ Easy to use interface
⦁ Multiple trading options
⦁ Lacks advanced charting and trading graphs
⦁ Offers only a kind of order i.e., limit order
BlockFi is a comprehensive cryptocurrency ecosystem that provides an ideal platform for advanced crypto investors/traders. There are more than 1 million verified users on BlockFi. Apart from being a reliable crypto exchange, BlockFi also offers products like crypto rewards cards and low-interest loans.
Additionally, BlockFi turns out to be the best crypto exchange if you want to earn interest by holding your crypto assets. This platform also allows users to borrow money while using Bitcoin as collateral. The main highlight of this centralized exchange is its ‘Interest Account,’ which offers up to 9.5% APY.
BlockFi has earned a reputation as a perfect option for high-volume trading. Because you don’t have to pay the trading fee, this platform only charges a payment when you convert your crypto into fiat money and withdraw it. Hence, BlockFi is a suitable option if you regularly buy/sell crypto.
BlockFi boasts a high-tech cyber security infrastructure. It relies on two-factor authentication to ensure the safety of deposited crypto. Besides, it has a reasonable fee structure. Contrary to charging a transaction fee, BlockFi asks for the spread fees.
⦁ Supports a broad selection of cryptocurrencies
⦁ Affordable fee structure
⦁ The short yet intense verification process
⦁ Strong customer support
⦁ Best for earning interest
⦁ Not suitable for beginners
⦁ Supports limited cryptocurrencies
Soon after its launch in 2017, KuCoin emerged as one of the biggest cryptocurrency exchanges. This platform is loaded with attractive features and tools. Besides, the crypto exchange supports more than 600 cryptocurrencies. The easy-to-use interface renders it a beginner-friendly platform.
Moreover, KuCoin is a viable option if you plan to earn interest or rewards by lending or staking your crypto. The platform charges a competitive trading fee (0.0125%-0.1%). It also has a native token known as KuCoin Token (KCS). On a particular KCS balance, a user can also enjoy discounts in terms of trading fees.
Besides charging the trading fees, KuCoin also requires its users to pay the withdrawal fees. This kind of fee depends on the type of asset you are withdrawing. However, this platform doesn’t charge any type of deposit fees.
With multi-factor authentication, this crypto exchange ensures the best possible security. This platform offers four major order types. These include market, stop-market, limit, and stop-limit. Besides, other popular trading options like futures, P2P trading, and margin are also available with this platform.
⦁ Industry-standard safety features
⦁ Simple and easy to use interface
⦁ Supports a vast range of cryptocurrencies (600+)
⦁ Vigilant customer service
⦁ Less intuitive mobile app
⦁ Limited fiat deposit options
Being founded in 2011, Bitstamp stands among the first cryptocurrency exchanges that entered the crypto world. The stability of this platform is an excellent selling point. Usually, most exchanges encounter major regulatory issues after a few years of launch.
Bitstamp comes with a simple and easy-to-use interface. Hence, you can quickly start trading on Bitstamp without hassle.
This crypto exchange charges an affordable trading fee, making it stand out among its competitors. It has a fixed 0.50% trading fee for those with a monthly trading volume lower than $10,000. In addition, the trading fees drop more for higher trading volumes. So, it serves as a perfect choice for fee-conscious crypto investors.
Bitstamp supports 45 cryptocurrencies. However, some of the major options aren’t available. Apart from its regular platform, you can also use ‘Tradeview.’ It’s an active trading platform with advanced trading forms and charting features.
The best thing about Bitstamp is that it doesn’t charge additional fees for its advanced platform. If you are looking for a user-friendly crypto exchange with competitive trading fees, Bitstamp is an option.
⦁ Advanced charting and data graphs
⦁ Affordable trading fees
⦁ User-friendly interface
⦁ An advanced platform is also available for experienced traders
⦁ High trading fees
⦁ Works only with a limited number of crypto
To conclude, choosing a suitable crypto exchange might be a daunting task because you must consider various aspects, including usability, affordability, functionality, and security. Although it may not be possible to find an exchange that meets all your needs, you can settle for an option offering most of your preferred features.
The best cryptocurrency exchange should also possess some extra lines of defense i.e., multi-factor authentication, mobile verification, and cold storage.
And don’t forget the ease of use, as it is a critical factor to consider. Especially newer traders struggle to use a counter-intuitive interface. So you must opt for an exchange with a user-friendly yet efficient interface.
As far as my recommendation is concerned, I would go for Coinbase. It is simple, as it is one of the most reliable cryptocurrency exchanges for both beginners and experienced investors. This platform educates and allows new users to learn the basics and start trading quickly.
Talking about security, Coinbase takes good care of your deposits. It has FDIC insurance, which guarantees a fair amount of compensation if the company fails to exist. Nearly 98% of the funds are put in cold storage. Hence, only 2% of the money is vulnerable to hacking attacks.
Also, alternative asset companies that offer crypto IRA products, such as Alto CryptoIRA, have partnered with Coinbase to allow their clients to access and trade digital currencies in a tax-sheltered account. In addition, BlackRock, which is the largest asset manager in the world has partnered with Coinbase, which is a show of confidence in the team behind Coinbase.
Are you interested in creating a Coinbase account? You can be a part of a large Coinbase community by clicking the following link.
What is the Safest Crypto Exchange?
According to a third-party Crypto Cybersecurity Evaluator CER.live, Kraken takes the stage as the safest crypto exchange because Kraken takes advantage of an offline safe coin storage facility for storing 95% of the deposited crypto assets.
What Is the Most Secure Crypto Platform?
The level of security ensured by a cryptocurrency exchange varies depending on its nature (whether it is decentralized or centralized). Crypto.com has become the most secure option among any other centralized exchanges. This is because Crypto.com offers multiple security layers to safeguard your crypto assets. According to CER, both Crypto.com and Kraken score in the top two most secure exchanges.
Which Platform Has the Lowest Fees?
Analyzing the Crypto exchange fees turns out to be a complicated affair. Especially, frustration hits your mind when a trade's cost surges unexpectedly due to hidden charges. However, after researching for quite some time, I have found that Binance.US is the best crypto exchange with the lowest fees.
The maker/taker fees range from .01%. Furthermore, active traders can enjoy even lower prices by taking advantage of its discount programs.
How Do You Buy Crypto?
Buying crypto is easy. You just need to choose a crypto exchange and create an account on it. You will get access to a digital wallet, commonly known as a ‘Crypto Wallet.’ This particular wallet is used to keep your cryptocurrency.
However, you need to be extra cautious when choosing a crypto exchange. Certain platforms only allow you to transfer specific types of crypto. This might limit you from buying and selling cryptocurrencies of your choice.
After creating an account with a cryptocurrency exchange, it’s time to transfer U.S dollars into your crypto account via wire transfer or ACH. Some exchanges also allow you to buy crypto through a debit or credit card.
How Much Money Do You Need to Buy Crypto?
It depends on the type of exchange you are using, as each platform has its requirements. It also depends on the types of digital assets you will buy. Fractions of crypto can be purchased by spending a few dollars. Hence, make sure to check your exchange requirements before making any buying decision.
How Do I Open a Cryptocurrency Exchange Account?
To create an account in your preferred crypto exchange, you have to download its app or visit its official website. The account registration process differs depending on the type of exchange.
Most top-rated crypto exchanges ask for Identity Verification before allowing you to make any transaction. This process is referred to as ‘Know Your Customer's or KYC. During this procedure, you must provide your personal information for account activation. This includes:
⦁ Date of birth
⦁ Social Security number
⦁ Mailing address
Once the verification process is complete, you can now use your account for cryptocurrency trading. However, a few exchanges allow you to buy/sell a limited amount of crypto assets without such verification.
Risk Disclosure: Any investments come with an inherent risk, where you could end up making less money than what you put in. Before investing your hard-earned cash, be sure to speak with licensed professional financial advisor first. Always remember that past performance is not an indication of future returns.
Disclaimer: This website's owners may be compensated for suggesting certain businesses, goods, and services. While we do everything possible to verify that all of our content is accurate, the information we provide may not be impartial or unbiased, and it does not constitute financial advice.