When you’re buying or selling cryptocurrencies you’ll need to use a platform that can cater to trading currency for crypto or crypto for crypto.
Some of these platforms are really comprehensive and have heaps of different trading features such as margin trading/lending whilst other platforms have an intuitive easy-to-use interface in which you can simply buy crypto with the click of a few buttons.
Having a reliable cryptocurrency exchange that you can use is of utmost importance. It only takes a few searches on the internet to see how many different cryptocurrency exchanges have been hit in the past few years by attacks. A cryptocurrency exchange should be both secure and reliable. Having security features such as 2-factor authorization is almost a given with the top-tier exchanges.
We’ve collected some of the best cryptocurrency exchanges available in 2022 that you can use and have included those that are suitable for beginners and experts alike.
Best Cryptocurrency Exchanges in 2022
1. Coinbase – Best exchange for beginners
Coinbase is one of the oldest and most reliable cryptocurrency exchanges around. Starting out in 2012, they’ve definitely been in the industry for quite a while and know a thing or two. They haven’t had bad publicity and have always been a stronghold for users of cryptocurrencies with great security measures in place.
Coinbase is based in the US however they have global support and compliance on their platform. They also have Coinbase Pro which supports over 150+ trading pairs that you can trade on if you’re a more experienced trader.
Whether you’re trading the most popular cryptocurrencies or wanting to simply store your crypto then Coinbase is a good option. The fees can get up to 0.60% which pushes some people away from the platform but you can’t really put a price on safety either and Coinbase ticks all the boxes in that area.
2. Binance / Binance-US – Best exchange for experienced traders
Whilst Binance does also have an intuitive and easy-to-use interface, it is definitely the next step up in terms of complexity after Coinbase which is tailored even for the mum and dad user. Binance is one of the biggest exchanges due to the sheer amount of trading volume that goes through their exchange.
Binance also has a US-based version due to the laws surrounding trading cryptocurrencies in the US. This version benefits from all the awesome features from Binance we’ve come to love such as their low fees and easy-to-use platform with an arsenal of trading tool features such as margin trading and setting stop limits.
However, even the US version of Binance is not currently available in all U.S. states, including Texas and New York.
3. Crypto.com – Best exchange for mobile users
Crypto.com is an interesting concept. They have one of the best mobile applications when it comes to crypto exchanges. However, it also has its own coin called the CRO which you can get credit on, and get a Crypto.com visa card which you can use for purchases. You can also get different colors depending on how much you deposit initially into CRO.
One of the drawbacks of Crypto.com is its fees go up to 0.40%. Although if you’re looking for an easy-to-use mobile app, are after a ton of features such as their Visa card and an awesome ecosystem where you can earn more on interest then give them a go.
4. Gemini – Best exchange for security
You might’ve heard of the Winklevoss twins, Tyler and Cameron. They launched Gemini back in 2014 and have been around for quite a while and have been strong advocates for Bitcoin and the entire cryptocurrency industry.
The Gemini exchange has its key focus on security, where they also have hot wallet insurance meaning users’ funds are safe in the case of a hack or breach.
They also have all the standard security features such as 2-factor authorization and even go through comprehensive security checks to ensure you’re verified.
As quoted from Investopedia regarding their fees:
The primary platform charges fixed amounts for smaller trades and a very high 1.49% on trades above $200. The active trader platform charges maker-taker fees up to 0.4% with reductions as your volume grows. These are also on the high side. However, paying the comparatively high fee may be a small price to pay for Gemini’s highly robust security.
More on cryptocurrency exchanges
When you’re using a cryptocurrency exchange, it is important to find one that is lag-free and is able to be able to handle the load when there is a ton of trade activity going through.
The above-mentioned exchanges are definitely ones that have gone under the hammer in terms of load and for the most part, have had positive feedback.
You should always check online reviews as well to see what the latest feedback has been on that exchange and check the trading volume of such pages on websites such as CoinMarketCap.
If you’re looking for ways to further enhance your exchange experience and find important cryptocurrency metrics faster then you should use a crypto scanner such as Cryptolume which can find out when certain coins are hitting key trading indicators that you might want to trade on.