The Best Cryptocurrency Exchanges For 2022

"Exchanges for cryptocurrencies make it possible for buyers and sellers to transfer cryptocurrency to one another. Gain an understanding of the leading cryptocurrency exchange choices."

The growing popularity of cryptocurrencies has resulted in considerable growth in the number of cryptocurrency exchanges. Cryptocurrency exchanges serve as a marketplace for buying and selling digital currencies and exchanging them for fiat currencies like the US dollar (USD). Many billionaire entrepreneurs choose the top cryptocurrency exchange development company to use cryptocurrency exchanges for business purposes.

Cryptocurrencies, abbreviated as crypto, are digital or virtual currencies that take the form of tokens and are used to conduct secure online transactions like payments. A digital transaction mechanism – essentially an online market – that allows you to purchase and sell cryptocurrencies is known as a crypto exchange.

Bitcoin, the most well-known cryptocurrency, is currently valued at a stunning $29,500 as of May 2022, and entire industries have sprouted up to help simplify the usage and trading of crypto.

Excellent Cryptocurrency Exchanges

The word "best" can mean different things to different people, but for the purposes of this post, I'll call the most well-known, reliable, user-friendly, and safe options the best crypto exchanges.

Kraken

Kraken is one of the more established cryptocurrency exchanges, having been in business since 2011. It provides exchange facilities for over 160 different types of cryptocurrency, as well as a handy buy/sell guide for each to help you assess current market prices, recent price movements, and market cap. Kraken's strong points include the fact that it can trade margin contracts, futures contracts, and limit orders.

To get new customers started, Kraken provides instructions for installing either the Apple or Android app, as well as a sample account to try out the product.

Pricing: You may find Kraken's complete free schedule here. The basic fee structure is as follows: 0.9 percent for stablecoin transactions, 1.5 percent for non-stablecoin transactions, 3.75 percent plus $0.25 US dollars or Euros for credit card or digital wallet processing, and 0.5 percent for internet banking/ACH processing. Overall, this is a lower-than-average set of crypto exchange fees. Kraken offers live chat assistance 24 hours a day, 7 days a week.

eToro

With 25 million members, eToro claims to be the largest social investment website, and its longevity rivals Kraken, having been created in 2007. While it has fewer cryptocurrencies than Kraken (68 as of May 2022), its buy/sell advice is updated in real-time for up-to-the-minute pricing information, and it also allows you to invest in equities and ETFs.

One drawback of eToro is that it is now only available in 45 U.S. states. Residents of Hawaii, Minnesota, Nevada, New York, and Tennessee do not yet have access to this cryptocurrency exchange, so keep that in mind.

The eToro mobile app installation guide for either Apple or Android can be found here. You can also try out the program with a demo account, and eToro gives you $100,000 in fake "play money" to trade with.

Pricing: eToro offers a straightforward pricing structure, charging 1% for purchasing and trading cryptocurrencies. A minimum account balance of $10 is required.

Crypto.com

Crypto.com is a newer service, created in 2016, that offers the most cryptocurrencies of practically any crypto exchange in our review, with over 180 cryptocurrencies supported, albeit not all of them displayed on their buy/sell guide. This exchange has a strong offering of non-fungible tokens.

One drawback of Crypto.com is the absence of crypto-to-crypto trading, which means that users cannot trade one type of cryptocurrency for another. In this case, you'd have to sell one in a separate transaction and then acquire the other in a separate transaction. Another major stumbling block is customer service complaints.

The Crypto.com iOS app can be found here, while the Android version can be found here. It is worth noting that Crypto.com was declared the finest mobile app in the business by Investopedia. Unfortunately, I couldn't find any available demo accounts to test it out.

Fees range from 0% to 2.99 percent, depending on the transaction and payment method.If you pay with money deposited from a bank account via ACH, there are no costs, but credit/debit card purchases incur the full 2.99 percent.

Binance.US

Binance's buy/sell guidance includes over 60 coins. Based on regulatory concerns, the firm briefly suspended access for US users in 2019. That is how the Binance.US subsidiary came to be. The process of verifying your identity takes a long time, which is a downside. However, Binance.US has some of the lowest trading costs out there, which makes up for it. Binance Like eToro, it is not available in every state: Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, and Vermont are not included.

The Binance iOS app is available here, and the Android version is available here. A Binance demo account page with $10,000 in fictitious "play money" may be found here. Binance also tells you how to use the Demo Exchange mode to try out test transactions and see what happens before you commit to the transaction.

Binance charges 0.1 percent for spot trading and 0.5 percent to buy/sell cryptocurrency, yet their website also states that "trade fees are decided based on your trading volume over a 30-day period (in USD) and your daily BNB [BNB Coin] balance." BNB users will receive a 25% discount on trading expenses.

Coinbase

Coinbase is a famous and well-regulated cryptocurrency exchange that supports over 150 coins. Coinbase was made in 2012, and it has 98 million users and works in over 100 countries. It is a strong and flexible platform that emphasizes how easy it is to use.

In fact, Investopedia chose Coinbase as the best cryptocurrency exchange overall and the best for beginners. The Coinbase iOS app is available here, while the Android version is available here. I was unable to confirm the availability of any demo accounts, but this YouTube video talks you through the sign-up procedure, and Coinbase provides extensive training on how to get started with the product. Also, the mobile app has news and videos about the crypto coins that it supports that are very helpful.

Pricing: Coinbase's own pricing website isn't very helpful, which is one of the product's few flaws, but reviews have determined that their rates range from 0.5 percent to 4.5 percent depending on the transaction, with additional costs possible. Coinbase One, an alternate pricing option in beta testing, offering no-cost trades and other features for a monthly price of $30.

BitMart

BitMart was founded in 2017 and is currently recognized as one of the top 20 cryptocurrency exchanges in the world. Their buy/sell page contains approximately 60 popular cryptocurrencies and provides access to a good range of coins and futures trading with up to 50x leverage. There are several hundreds available for transactional use in total, which is the most of any provider in this study. In December 2021, BitMart was hacked, resulting in the theft of almost $200 million in assets, which the business then promised to refund.

The BitMart iOS app can be found here, while the Android version can be found here. The instructions for creating a BitMart demo account can be found here. You can also get the right app for your phone by going to their main website and clicking "Download" before using your camera to scan the display code.

The fixed price for each trade is 0.25 percent, but like with Crypto.com, using a credit or debit card may result in higher prices, such as 4.5 percent. Their pricing page has all of the fee information.

Gemini

Gemini was created in 2014, and its buy/sell page contains over 100 cryptocurrencies that are available for trading in over 60 countries. The operational interface is straightforward and simple to use, and the scope of assistance is broad.

Gemini was recently named the first SOC 2-certified crypto exchange and offers FDIC insurance for U.S. currency deposits up to$250,000. It was recently named the best in security in the industry by Investopedia, and it recently became the first SOC 2-certified crypto exchange and offers FDIC insurance for U.S. currency deposits up to $250,000.

By scanning the code provided, you can download the correct mobile app directly from the Gemini website. While I couldn't find a demo, a video on how to use the product can be found here.

Pricing is divided into numerous categories, including mobile and desktop, and may be found here. They cover everything, but the fees for mobile purchases between $10 and $200 range from $0.99 to $2.99. For anything over $200, the standard fee is 1.49 percent.

Cash App

Cash App, which was launched in 2013, is a one-of-a-kind item in our roundup because it focuses not only on crypto exchange and stock trading but also on conventional financial transactions. This places it in the same league as PayPal and Venmo, making it a capability powerhouse.

Despite its many features, Investopedia selected Cash App as the best cryptocurrency exchange for Bitcoin. Still, I couldn't find a buy/send link on their website, but the current rates are shown in their mobile app. The Apple version is available here, while the Android version is available here. While I couldn't find a demo, a YouTube video on how to use the product may be found here.

Pricing: Cryptocurrency transaction costs range between 1.5 and 2.3 percent. Standard deposits are free if you plan to use the app for regular financial transactions, while instant deposits cost between 0.5 and 1.75 percent.

Bakkt

Bakkt's seamless and secure platform, launched in 2018 and accessible via the Bakkt app, provides customers with a low barrier to entry into cryptocurrency with an easy-to-use interface and a no-fee approach. Users can purchase, trade, and send the cryptocurrencies Bitcoin and Ethereum.

Additionally, app users can link compatible rewards and loyalty programs and convert select points to cash, which they can then use to conduct more bitcoin transactions, transfer payments to people, purchase gift cards, or make real-world purchases using the virtual Bakkt Visa Debit Card. Users of the Bakkt App may access loyalty points, rewards programs, gift cards, and cryptocurrency all in one place.

The Apple version is available here, while the Android version is available here.

Pricing: Unlike most other platforms, Bakkt does not impose a per-transaction fee.

Bisq

Bisq is a decentralized bitcoin exchange platform that allows users in more than 180 countries to trade over 1,000 coins. Bisq, which debuted in 2014, is unique in that it includes a downloaded program that is compatible with all major operating systems. The only mobile app offerings for Apple and Android are essentially notification services that give you trade status updates.

Bisq, as a decentralized platform, does not own any assets and instead connects merchants and buyers. The benefit of this style of operation is that you do not need to connect a bank account or crypto wallet to conduct transactions. This provides users with an added benefit in terms of personal information protection.

Pricing: Fees range from 0.10 percent to 0.70 percent depending on the type of transaction.

How To Pick The Cryptocurrency Exchange That’s Right For You

All of the products reviewed here have something to offer everyone. The process of exchanging cryptocurrency in a safe and reliable fashion is founded upon the platform involved, and each entry listed here has a proven track record for getting the job done. Your choice should be based upon the desired functionality and cryptocurrencies or transactions you intend to work with.

eToro is best for social investing, BitMart has the widest range of cryptocurrencies available, Cash App offers financial peer-to-peer transactions on top of excellent Bitcoin trading capabilities, Crypto.com has the strongest mobile app contender, Gemini provides the best security aspects and Coinbase is well-thought-of as the easiest crypto exchange to learn. Bisq is not thought of as an active trading platform due to it being limited to a desktop application, so making quick exchanges and trades on the go is not an option with this crypto exchange.