You always want a safe place to trade your funds with a good user experience whenever you want to buy and sell cryptocurrency.
Especially if you are e beginner in the space, you could do with an app that offers some tutorials before dropping any real money in.
Before choosing a cryptocurrency exchange, you must pay attention to several factors like:
- Security
- Age ( how long it has been around)
- Reputation
- Supported currencies,
- Pricing,
- Deposit and Withdrawal limits
- geolocation
- User Experience
- Customer Support
- Reviews
Below, as you probably guessed, we prepared a list of exchanges that have recommended themselves as trustable, secure, and reputable companies that have dominated the market for quite some time.
7 Best Cryptocurrency Exchanges 2022
Coinbase
The top of our list and many crypto veterans will agree that Coinbase is one of the safest and most popular crypto exchanges that has been around since 2012.
Coinbase has 73M+ verified users, 255B assets on the platform, and operates in more than 100 countries.
Pros
Strong Security
Extremely simple user interface
Very high liquidity
Cons
The user does not control wallet keys
Kraken
For many early crypto investors, Kraken was the first exchange they used to exchange their real money in Bitcoin.
Kraken has been around for an “eternity” in crypto terms because it was launched in 2011, only two years after Satoshi Nakamoto unleashed his Bitcoin into the world.
Pros
High cybersecurity ratings
US-based
Sophisticated trading features, like margin, may appeal to advanced users.
Cons
Beginners might find its interface too overwhelming
Gemini
Our fourth pick is one of the most regulated cryptocurrency exchanges founded by the Winklevoss brothers in 2015.
Regulation has been Gemini’s main selling point where its competitors seem to be struggling.
Pros
More than 50 cryptocurrencies.
Site insurance of digital assets against exchange hacks.
Available in all U.S. states.
Cons
Higher fees than some other crypto exchange
Binance
If you are someone who prefers the biggest players in the game, then you might consider the largest crypto exchange out there.
Binance is also the most popular exchange in the crypto space, thanks to its vast array of altcoins, excellent liquidity, and extensive features.
Pros
- User-friendly trading platform
- Various deposits options
- Supports a large number of fiat currencies
- Volume and exchange-token discount, which can make already-low fees almost negligible.
- A massive range of coins is available for trading.
- Basic order types, as well as OTC trading, enabled.
- Easy switch from advanced to the basic interface on the mobile app
Cons
- No support for margin trading.
KuCoin
If you are looking for low-cap altcoin gems, then Kucoin might be your pick as it has more than 500+ altcoins available.
You can trade new altcoins that are getting launched on the platform nearly every other day.
Like Binance, you can cut the trading fees by 20% using Kucoin native token KCS.
Pros
- Automated and margin-based trading available.
- The high number of altcoins available
- Advanced user interface
Cons
Buying select crypto requires payment methods that may be too complex for beginner investors.
Etoro
And the last one on our list is an exchange that offers investors the ability to copy the trades of pros.
Funded in 2007, etoro was a trading company that focused primarily on cryptocurrency with 24 million users today.
Pros
Low minimum to fund an account and begin investing.
Social trading: Ability to match moves of popular traders.
Cons
Service only available in 44 U.S. states.
While eToro has forex and equity trading available in other countries, U.S. eToro customers are limited to crypto trades.
High fees