A cryptocurrency exchange is where you will buy, sell, and invest in cryptocurrency; you can also convert different cryptocurrencies. You need a cryptocurrency exchange to be able to trade cryptocurrency, particularly to avoid falling into the hands of scammers. However, that depends on the exchange you choose, because their security statuses differ from one to another.
If you intend to buy Bitcoin with credit card, for instance, a standard exchange will ensure a steady and secure transaction. We have listed some of the best cryptocurrency exchanges on the market as of 2022 and how we chose them.
The 7 Best Crypto Exchange Platforms For 2022
Below are our top picks for the best cryptocurrency exchanges for 2022.
Coinbase offers over 150 cryptocurrencies for trading, and it charges a 1% flat trading fee on transactions. It is one of the best exchanges for beginners, especially because of its user-friendly interface that makes transactions a snap. Coinbase has strong security features and user reviews, and it lets users stake Algorand, Cosmos, Ethereum, Cardano, Tezos, and Solana.
KuCoin is another outstanding cryptocurrency exchange when it comes to the number of digital coins being offered – more than 600. The exchange offers a large library of altcoins all at low fees; its trading fees cover a 0.1% Taker Fee and 0.1% Maker Fee.
It also offers volume discounts on its fees as well as advanced features like futures trading and margin trading. It has a growing number of users in Africa, Asia, the Middle East, and Europe.
Kraken is a U.S.-based cryptocurrency exchange founded in 2011, making it one of the oldest cryptocurrency exchanges in the country. It offers over 120 coins with competitive trading fees; it also offers margin trading, among other advanced trading tools.
There are two trading platforms on the exchange: the basic Kraken platform and Kraken Pro. Where the trading fees on the basic platform are high, users can get lower costs and discounts on Kraken Pro.
Binance.US is renowned for its low transaction fees; it has one of the most generous fees structures. Trading on Binance.US attracts 0.1% trading fees, which go lower as you trade higher volumes of coins.
The exchange offers over 120 digital currencies, all of which you can purchase with fiat currency (USD). Additionally, Binance.US offers a variety of discounts and purchase options that advanced users will appreciate.
BitYard is still a newcomer exchange in the cryptocurrency market; it was launched in 2019 in Singapore. The exchange offers crypto trading services in over 150 countries worldwide, and it complies with financial industry regulations.
It makes this list because it holds licenses in Australia, the U.S., and Singapore, and offers low trading fees. Furthermore, BitYard offers a decent amount of popular cryptocurrencies, meaning you will likely find your preferred coin.
Whether you are a beginner crypto investor or an advanced trader, Gemini is one exchange that suits all. This exchange platform offers numerous features, like the Gemini Credit Card and its unique Gemini Earn program. It has a simple, user-friendly, and intuitive interface, and users can earn rewards with its unique credit card.
Crypto.com is one of the most secure cryptocurrency exchange platforms out there, featuring multiple protection layers against cyberattacks and fraud. The platform uses different techniques to secure users assets, including offline cold storage and regular software peer-review.
Additionally, it offers a regulated custodian bank account for traditional or fiat currency and uses multi-factor identification. However, apart from its security, Crypto.com offers over 250 coins, and it has a non-custodial DeFi wallet that allows users to earn interest on tokens.
How We Chose the Best Cryptocurrency Exchanges
Choosing an exchange where you will be buying cryptocurrency to sell, store, or invest is a critical process. First, you need to look beyond the transaction fees and consider other important features like security, educational resources, and trading volumes.
Below are the factors we considered and that you should consider when choosing the best crypto exchange:
Security and Storage Options
Consider the exchange’s security, insurance, and storage options before choosing. You want to choose an exchange that ensures maximum security of your digital assets; assess any hack it has experienced.
Ensure the platform is available in your country; a platform’s online accessibility does necessarily translate to accessibility in your country.
Evaluate the educational content the platform offers as you will find it very useful as you start your journey. Look for a platform with sufficient educational resources to help you understand the market.
Consider the number of digital coins the platform offers for trading as well as the number of fiat currencies accepted. You also want to evaluate and ensure that the platform has sufficient trading volume in your chosen coins. Overall, evaluate the crypto exchange platform’s liquidity and trading fees to avoid buying at a higher price than you sell.
With these crypto exchange choosing tips, you can evaluate exchanges yourself and choose. But, if you can’t, these seven platforms are some of the best that you can transact with this 2022.