Best Crypto Exchanges In 2022
Despite the recent crash, crypto trading remains a highly popular form of investing. Both individuals and financial institutions keep making massive investments in various crypto assets, convinced that the recent troubles will soon pass and that the market will recover.
Author:Stefano MclaughlinReviewer:Camilo WoodAug 11, 202279 Shares1.3K Views
Despite the recent crash, crypto trading remains a highly popular form of investing. Both individuals and financial institutions keep making massive investments in various crypto assets, convinced that the recent troubles will soon pass and that the market will recover. Some even claim that next year will be the best year for crypto since bitcoin appeared. Even if you are skeptical about this prediction, nobody can deny that investing in crypto in 2022 may be a very smart decision. The market is at its lowest it has been in years and many assets can be picked up on the cheap. Even a small bump will allow for large profits for people who choose to invest today. If you are one of them, here are some suggestions on where to buy bitcoinand other tokens.
Best Crypto Exchanges in 2022 - Overview
- eToro – Overall Best Crypto Exchange
- Coinbase – Best for New Users
- Crypto.com – Best for Mobile Users
- Kraken – Best Crypto Exchange for Seasoned Traders
- Binance – The Biggest Crypto Exchange
eToro – Overall Best Crypto Exchange
eToro was founded in 2007 as an online Forex trading platform. It still performs that function today but has since expanded to cover the crypto market as well, offering more than 3,000 trading symbols to its users. It was one of the first established fintech that made a foray into the crypto world and with its already huge users base, it made quite an impact.
eToro is one of the rare crypto exchanges that operate under full Tier 1 jurisdiction and supervision of tier-1 regulators Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA). This is why more than 23 million users gave their trust to eToro, making it a global leader in the market.
One of the things that make eToro stand above the pack is the ability to make deposits via PayPal, something not many crypto exchanges allow. It also features a very low deposit minimum of just $10, so you can start trading crypto without the need to risk a lot of money.
The most praised feature of eToro is its social trading. In exchange for various perks, experienced traders can post their trading patterns for others to copy. That way new users can catch a glimpse of how big boys are doing it and learn from the best. As far as we know this unique feature is present only at eToro and has proved a massive success for all involved.
Coinbase – Best for New Users
Founded in 2012, Coinbase is one of the oldest crypto exchanges in the world. Today, it is a public company that has a market value of over $36 billion.
Coinbase is a fully decentralized crypto trading platform. It operates globally, but it doesn’t have a centralized headquarters, like other corporations. If you want to know where to buy bitcoin, this is probably your best option. It is present in more than 100 countries across the planet, allowing its users to trade over 150 crypto assets. That number may seem small, especially compared with some other crypto exchanges on our list, but there is a good reason for that. Coinbase has a very detailed verification process each crypto coin must pass before being listed. This prevents fraudulent assets from being listed on one of the biggest trading platforms on the market and protects users from falling victims to scammers. The downside is that new tokens have a hard time appearing on Coinbase.
Coinbase manages to successfully blend two seemingly opposing concepts, being an ideal platform for both new and experienced users. Its basic UI is simple, allowing new traders to quickly get a hang of it, without burying them with unnecessary information. Underneath, however, there are plenty of advanced features that will satisfy even the most demanding users.
Depending on the trading volume, gas fees range from 0% to 0.60%. You can also opt for using Coinbase Pro, which offers additional features for experienced traders. When it comes to storing your crypto, you can do it directly on the platform, in which case Coinbase controls the private keys. If that is not acceptable for you, there is also an option of using Coinbase Wallet, which functions like any other online crypto wallet.
Crypto.com – Best for Mobile Users
Crypto.com is not just a crypto exchange. It is a massive ecosystem based on its own blockchain, with a native token, crypto-based Visa card, various crypto products providing interest to their holders, and many other features. The Crypto trading platform is just one facet of this ecosystem, albeit the one that is most used and draws the most attention.
The best part of Crypto.com is its mobile app. It is amazing how much functionality the designers have managed to cram into it, making it one of the best crypto trading apps on the market. Almost every feature you can find on the web version is present in the app as well. You have full access to various trading tools, with more than 250 crypto assets available for trading, as well a full range of crypto products offered by Crypto.com.
Depositing money on Crypto.com with electronic transfers is free, but trading fees can be as high as 0.40%. On the other hand, if you are willing to convert some of your cryptos to CRO, exchange’s native coin, you can stake it and earn interest on it. Rewards grow with the amount of CRO you are staking and some of the perks offered at the highest levels are quite tempting. There is also a crypto cashback for using Crypto.com’s Visa card.
One of the biggest issues with Crypto.com is their low grade on TestPilot. Many users have complained about the customer support or lack of it. According to some users’ reviews, it is slow to respond, and resolving issues is a painstaking process. Sometimes, they simply ghost users and don’t even bother to respond to their queries. This is unacceptable for any major company today, let alone a crypto exchange that depends on its users’ trust. Hopefully, Crypto.com is taking steps to improve this aspect of its business.
Kraken – Best Crypto Exchange for Seasoned Traders
If you are a professional trader looking for the best crypto exchange to satisfy your every need, you need not look further than Kraken. Designed to offer advanced tools to people who trade crypto for a living, Kraken is one of the most modern trading platforms on the market. There are 13 different trading orders, including stop-loss orders, price protection, take profit orders, and more.
Founded in 2011 in San Francisco, Kraken quickly built a reputation as a trustworthy and reputable crypto trading platform. It soon became a go-to exchange for professionals in the beginnings of crypto trading. Over time, they kept adding features that helped establish and keep the reputation of the platform as the best place for serious investors. To further differentiate between amateurs and pros, Kraken added another platform, called Kraken Pro. The fees between the two are very different, with Kraken Pro offering lower transaction costs to its users. On the main platform, gas fees can be up to 1.5%, which is among the highest on the market. On Kraken Pro, they can be as low as 0.16%, depending on the trading volume, going up to 0.26%.
Kraken offers more than 250 crypto assets for trading, constantly adding more as they appear. Keep in mind that the actual number of tradeable assets will depend on your location, as many jurisdictions put limits on various coins.
Kraken features a superb mobile app for mobile users that possesses many features as the web version, but not all of them. Deposit methods are also fairly limited, with bank transfers being the most used way of funding users’ accounts.
Binance – The Biggest Crypto Exchange
If you are looking for safety in numbers, then Binance is the perfect place for you. It is by far the biggest crypto exchange in the world, both in terms of trading volume and the number of users.
One of the reasons for Binance’s popularity is its low fees. Even beginners with low trading volume can expect to pay up to 0.1%. VIP users with a trading volume of over $5 million in the last 30 days will enjoy gas fees of just 0.01%. With overall trading volume measured in billions, Binance can easily afford such low fees and still make a profit. In fact, the only reason this platform doesn't rate higher on our list is its recent controversy and a dust-up it had with the United States regulators and law enforcement.
Despite its legal troubles, Binance managed to keep its reputation as a highly trustworthy crypto trading platform and even increase its number of users. Hopefully, the issue will be resolved without much fuss and Binance will remain one of the industry leaders in the years to come.
Stefano Mclaughlin
Author
Camilo Wood
Reviewer
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