Are you passionate about cryptocurrencies? Or are you keen to start investing in cryptocurrency? Today is your lucky day, as we will review the top Cryptocurrency Exchanges.
There are a huge amount of cryptocurrency Exchange platforms in the market right now. Finding the right platform for you can sometimes be a daunting experience. Before choosing a cryptocurrency platform, you should do your research.
Investing and trading in cryptocurrency is an obvious risk. However, by using top platforms, you can reduce the risk significantly. Thus, take your time to learn more about Cryptocurrency Exchanges before jumping in.
Let’s first review the criteria used to evaluate Cryptocurrency Exchanges before going into them.
Cryptocurrency Exchanges and Platforms Criteria
1. Supported Cryptocurrencies
Are you trying to find a trading and investment platform with different types of cryptocurrencies? Next, you should be aware of the cryptocurrencies offered by the platform, which are Litecoin, Dogecoin, Bitcoin, Ether, or Ripple.
The more cryptocurrencies you have in your portfolio, the more diversified it is likely to be. Additionally, digital currency includes fiat money and other financial assets.
2. Mandatory Charges
Like banks, Cryptocurrency Exchanges often benefit from exchange rates. Thus, be prepared to pay some fees to maintain your trade or investment. These fees cover withdrawals, deposits, inactivity fees, and even trading fees for CFDs. Some platforms also charge additional fees for each transaction completed on the Site.
3. Safety precautions
The best cryptocurrency platform cannot exist without following the necessary security protocols. Fund security and data privacy are examples of safeguards. Reliable security measures are a hallmark of the best Cryptocurrency Exchanges and exchanges.
These sites are well aware of how completely insecure the attackers’ tactics are. For this reason, they go the extra mile to prevent any attack or theft.
4. Client Support
It would be impossible to discuss the top Cryptocurrency Exchanges without considering their customer service. Top platforms offer exceptional services to their customers from their top-notch customer support team.
These support options include transactional, technical, and even general crypto support. For customer service, the majority of platforms we reviewed offer chatbots or email.
5. Procedure for Withdrawing and Making Deposits
Platforms should offer the widest range of transaction options. Debit/credit cards and bank transfers are becoming less and less common these days. As a result, most cryptocurrency sites have adopted digital payment methods.
The platforms below support widely used digital payment methods. Transaction sources like CashApp, Neteller, PayPal, Venmo, eWallets, and even Skrill.
6. User Interface
An equally important component is the user experience of the platform. This is often an underappreciated and unnecessary aspect. But there’s no denying that a well-thought-out and user-friendly platform sets the tone for your trading sessions. Additionally, this applies to both mobile apps and desktop interfaces.
Now that we have established the above parameters let’s investigate the Best Cryptocurrency Exchanges.
1) Crypto.com
Are you trying to find a mobile-friendly platform that offers a huge selection of cryptocurrencies?
Perhaps Crypto.com is the best option for you. It offers its users around 180 coins to trade and invest. Since there is no minimum deposit on the platform anymore, it is much more user-friendly for newbies.
There are no transaction or trading fees at Crypto.com. However, this benefit is only available to you if you use ACH to transfer funds from your bank. Or perhaps using a clearinghouse that is automated. On the other hand, using a debit or credit card for transactions can be very expensive. You can complete these transactions at your local bank to save money.
Another shortcoming is the platform’s inability to provide crypto-to-crypto trading. You can only do the transaction twice, for example, if you want to exchange Ethereum for Bitcoin.
The sale of Ethereum constitutes the first transaction, and the purchase of Bitcoin constitutes the second. It distinguishes itself from other major Cryptocurrency Exchanges with this feature.
Safety
Several digital wallets are supported by Crypto.com for traders and investors. It also offers you some great options for storing your cryptocurrency, making it a lot easier. DeFi Wallet, an app powered by blockchain technology, is one of those choices.
The majority of bitcoins on crypto.com are held in cold wallets for security reasons. Wallets that keep cryptocurrency offline and out of reach of hackers.
Above all, Crypto.com provides insurance protection in case of losses. Cyber attacks and other unexpected events can damage crypto.
2) Binance
This cryptocurrency platform hardly needs any explanation. It is currently the largest and most popular in the market. Positively, users can trade and invest in a variety of cryptocurrencies on Binance.
Its trading fees are also much lower than most of its competitors. The downside is that seven US states are unable to use the platform.
Only a few crypto-to-crypto trading pairings are available, and debit and credit card users must pay additional fees.
Safety
Binance provides an official trust wallet for customers to store cryptocurrency conveniently. Both the mobile play store have given this wallet excellent ratings and it is free to use. Furthermore, since a wallet is not necessary, you are free to utilize another cryptocurrency wallet.
2019 saw Binance reveal the loss of 7,000 bitcoins, which were valued at $40 million at the time. After that, the business fully reimbursed the affected customers for their losses. This cryptocurrency exchange has not yet disclosed any other attack cases.
In addition to cryptocurrency security, Binance also protects US dollar deposits. These funds are immediately deposited into FDIC-insured bank accounts.
Even better, if you have up to $250,000 in cash, you’re automatically covered by insurance that protects you against theft, bank failures, brokerage failures, and even unauthorized trading. keeps
3) OKX
The leading cryptocurrency exchange, OKX, is available in more than 100 countries. Basically, OKX is more than just your typical cryptocurrency marketplace.
Its extensive repertoire includes various NFTs, DApps, DeFi, cryptocurrency trading, and most of Web 3.0.
Peer-to-peer trading and purchasing options are available to you with the cards.
To maximize your idle money, OKX also offers great earning opportunities through stablecoins, staking, and several innovative programs like its dual investment, flash sales, etc.
Additionally, you have the option to borrow 20 cryptocurrency assets with repayable terms. In addition, OKX includes an in-house token (OKB), a crypto mining pool, and a local cryptocurrency wallet.
Safety
The protection of users’ cryptocurrency holdings is guaranteed by OKX’s respectable security measures. You first set up a cell phone number to receive notifications about withdrawals, logins, password changes, and other events.
Additionally, OKX can be used with 2-factor authentication through applications such as Google Authenticator.
In addition, you have the option to add a code to all OKX emails as an anti-phishing safeguard.
4) Coinbase
Coinbase is at the top of our list for a reason. Since its inception in 2012, it remains the oldest Cryptocurrency Exchange on the market. Additionally, it debuted on the Nasdaq in 2021.
You can trade more than 50 cryptocurrencies with this platform at the same time. Moreover, it includes a free wallet with private keys to protect the cryptocurrency storage you own.
Transaction fees on Coinbase seem to be higher than usual. When you make a transaction, you’ll pay a spread cost in addition to the Coinbase fee.
So what is the spread fee? This is the difference between the price you paid to get your cryptocurrency and its actual value.
Also, the Coinbase charge may change based on where you live. Additionally, there are no coinbase fees if your transaction is between different cryptocurrencies. Also includes deductions related to withdrawals and funding your account through various sources.
Safety
Coinbase’s transaction fees may be the biggest turn-off. However, it is among the safest Cryptocurrency Exchanges due to its security. Its security transparency is exceptional. It claims to hold 98% of cryptocurrencies in cold storage wallets. The remaining 2% is used to support commercial activities.
Even better, Coinbase offers an insurance plan to protect your cryptocurrency. However, in the event of an attack, this does not ensure full compensation.
5) Gate
According to CoinMarketCap, Gate is the sixth-largest cryptocurrency exchange based on daily trading volume. This great cryptocurrency exchange has its own native gate token and allows the trading of more than 1400 cryptocurrencies.
As expected, holding GetToken entitles you to lower trading charges. In addition, Gate offers a peer-to-peer lending program that allows you to use your unused funds.
Additionally, you can earn by investing cryptocurrency coins for both fixed and variable time periods while HODLing.
You won’t pay a dime to deposit at the Gate, and withdrawal fees are set by coin type.
It is interesting to note that at Gate, you can use copy trading to imitate profitable traders by splitting 5% of the net profit.
Safety
Gate uses a number of security measures to protect its users from outside interference. To provide the highest level of protection, revocation whitelists, multi-factor authentication, IP monitoring, and numerous other security measures are in place.
Additionally, Gate has a 100% guarantee against stored assets, and users can use the platform to verify their specific shares. A third-party audit was also conducted by Gate to verify its reserves.
6) Kraken
Investors and traders new to cryptocurrency will find Kraken appealing. Its tools are designed with beginners and avid cryptocurrency users in mind. To access the full trading mode, these advanced tools have a small activation charge, which is worth the money.
Additionally, Kraken offers above-average customer service. It offers round-the-clock customer support through phone calls, chats and emails.
Unlike Coinbase, Kraken lets you buy over 90 different cryptocurrencies. And about 130 pairs of crypto-to-cryptos. However, if you live in New York or Washington, DC, you may not be able to use this Site.
Among these platforms, Kraken offers one of the lowest prices. If you buy cryptocurrency using ACH or internet banking, you will also have to pay a processing fee.
Safety
How does Kraken provide its users with a highly secure platform? Implementing strict security procedures, such as keeping 95% of Bitcoin offline in cold storage and keeping the remaining 5% in case someone requests a withdrawal.
It adds that its servers are kept securely in cages under constant surveillance. More significantly, it closely tracks and encrypts access to sensitive data.
7) Robinhood
In summary, Robinhood is on the list. For cryptocurrency trading, Robinhood does not charge anything. In addition, it offers commission-free transactions, stocks and ETFs. However, the customer service of this platform could be improved. Additionally, there are a plethora of first regulators on this platform.
However, there is a good reason why Robinhood is one of the top Bitcoin platforms. First, the Robinhood platform is incredibly easy to use. It is supposed to make even the most sophisticated trading tactics accessible to newbies.
Second, it doesn’t have a minimum amount to start with, unlike the majority of platforms on the list. Better yet, there are no fees for any trades made on the platform. Finally, it is one of the few platforms that allow free cryptocurrency trading.
Safety
The Securities and Exchange Commissioners filed charges against Robinhood in 2020 for a data security breach. Subsequently, Robin Hood settled for a $70 million fine in June 2021.
However, it is subject to SEC regulation and membership of SPIC. Thus, automatic protection is provided for cash funds up to $250,000 and securities up to $500,000.
8) Gemini
Gemini is a user-friendly platform that was introduced in 2015. Because of this, it is a preferred platform for both experienced traders and new investors. It gives you access to trade and invest in more than 50 cryptocurrencies. There are two fees associated with using Gemini for transactions: a transaction fee and a convenience fee.
Safety
Gemini supports storing cryptocurrency offline. The majority of cryptocurrency is held in cold wallets. Additionally, only a small portion is kept in the hot wallet to accommodate withdrawal requests.
9) Webull
Although it is one of the largest platforms, it is not a platform that is suitable for newbies. However, it can offer attractively low fees, unlike other platforms. Webull may be of interest to traders and investors who use mobile devices.
Its beautiful PC interface is mirrored in its phone counterpart. Additionally, the minimum deposit amount is exactly $0.
Weibl excels in providing excellent customer support. It offers 24-hour phone and email customer service. Weibl’s incredibly limited cryptocurrency selection is a drawback. As of now, it only supports 11 cryptocurrencies, which makes portfolio diversification a challenge.
Weibl costs nothing for every deal completed on the platform. Additionally, there is a fee for the transaction amount. These costs are mainly related to wire transfer transactions.
Safety
Weebel, like most platforms, is subject to regulatory bodies such as FINRA and the SEC. These regulatory bodies guarantee that Webull conducts all of its business in an ethical and legal manner.
10) TradeStation
TradeStation welcomes traders who are very active, as the name suggests. With its powerful platform, active traders can execute their daily trades with relative ease.
Trade Station has an even more elegant desktop interface. This interface automatically selects the appropriate trading mode for you. It has all the necessary tools to create, automate, track and test your trades.
Transaction charges may vary, although the cost of trading on a trading station may be as low as $0. A minimum deposit of $500 is required to use this Site. There is no cost to receive money via wire transfer. At the same time, wire transfer costs $35 in foreign accounts and $25 in equity accounts.
Safety
Regulatory agencies such as the SEC monitor TradeStation’s operations. Additionally, amounts up to $250,000 and $500,000 for equity accounts are insured through SIPC. As a result, it is a reliable platform to use.
11) StormGain
StormGain has a lot to admire and take in together. It offers a plethora of classes that will be beneficial to anyone involved in cryptocurrency. First things first: Registering is a simple process using the online interface or the Android and iOS applications.
After that, to start trading with StromGain, you will need at least ten tethers. To get the desired amount in a few weeks, however, you can install the smartphone program and start mining StormGain’s Bitcoin.
Also, you can engage in cryptocurrency staking without freezing your cash for a predetermined period of time. Cryptocurrency withdrawal fees vary by asset, but deposits are always free.
As of this writing, debit/credit purchases are subject to a 5% fee. However, for a complete overview of trading fees, refer to the Fees section.
Safety
StormGain first requires a strong password. After that, data stays safe thanks to AES-256-bit encryption and two-factor authentication. Additionally, customers can make multi-signature withdrawals to secure their deposits further.
StormGain also maintains procedures for monitoring physical access to its facilities and participates in periodic security audits. StormGain funds are held in both hot and cold wallets. The security section does not give any indication of the exact percentage.
12) Uphold
With over 12 million members, Uphold is the home of cryptocurrencies. The cryptocurrency buying and trading space is rapidly evolving in Uphold.
The sheer amount of cryptocurrency assets that Uphold holds (over 265), including BTC, ETH, XRP, XDC, DAG, ADS, CSPR, and QNT, is what sets them apart. Additionally, users can trade four precious metals — gold, silver, platinum, and palladium — as well as 27 different national currencies through Forex.
Another major selling point of their software is its simplicity. In one easy step, users can quickly buy and trade cryptocurrency. Additionally, users can transfer assets (such as BTC to XRP) to reduce fees and save time. Uphold handles user funds with complete discretion and transparency.
The Uphold Card is also available to customers in the UK. Plus, you can earn 4% on every transaction you make, paid in XRP, up to £1200 a year! You can spend more than 265 digital assets using the card. The card can be used without any fees and is compatible with both Apple Pay and Google Pay.
Safety
Uphold was designed with security and transparency as its primary goals. They are completely transparent and secure, as mentioned earlier. In other words, all of the customer’s assets are fully protected and accessible for retrieval if needed. They do not invest or lend to clients. Additionally, Uphold updates its website in real time with the assets it has.
13) Etoro
It was established in 2007 and is one of the best platforms for cryptocurrencies. First, it is accessible in more than 140 countries, reaching more than 20 million traders and investors globally.
Additionally, it offers users additional assets other than cryptocurrency. Commodities and even stocks are considered assets.
If you are new to trading or investing in cryptocurrencies, you should consider Etoro. One of the features that helps you practice, develop, and monitor your progress is the Portfolio of Excellence. Depending on the country, the minimum deposit may change.
You only have to pay the spread and withdrawal costs on Etoro. Spread costs vary based on the cryptocurrency exchange.
Safety
Like other Cryptocurrency Exchanges, Eturo uses both hot and cold wallets to store cryptocurrency. Additionally, all fiat money, mostly US dollars, is held in accounts. The FDIC often has custody of these accounts.
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Abstract
You can quickly choose the Cryptocurrency Exchanges that best suits your needs while you are familiar with the top ones. Don’t forget that working with cryptocurrency can be dangerous. At some point, you’ll want to learn more about how to secure your cryptocurrency.