If you’re interested in crypto trading, you should consider creating an account with a trusted crypto exchange.
The right crypto exchange depends on your needs and priorities.
Some crypto exchanges, for instance, offer lower fees, while some offer faster transactions. Others are known for their exceptional security or for providing institutional traders with specialized financial products that aren’t available elsewhere.
This is why you must do your research before you sign up with a crypto exchange. In this article, you’ll get a list of the most popular and trusted crypto trading platforms, along with their features, benefits, and fees.
Top Five Crypto Exchanges of 2022
There are various factors you need to consider when choosing a crypto exchange that suits your needs.
This list was created based on the most fundamental requirements for crypto traders—such as world class security, number of cryptocurrencies available, transaction speed, withdrawal options, and more.
Listed below are the five crypto exchanges that are unparalleled in all these areas.
Available in more than 150 countries across the globe, MoonPay offers a fast, easy, and convenient way to buy and sell cryptocurrencies of all types.
MoonPay was founded in 2019 by two young entrepreneurs, with the aim of increasing cryptocurrency adoption and usage among the general public.
The exchange offers a secure and user-friendly interface. Individual and institutional investors can use MoonPay to safely trade cryptocurrencies without the constant worry of a new exchange.
Here are some reasons why you might want to consider MoonPay as your crypto exchange:
- Since its founding, MoonPay has delivered more than USD $2 billion worth of cryptocurrencies to over 5 million investors around the world.
- Designed to be simple and user-friendly, MoonPay makes it very easy to buy and sell cryptocurrencies.
- To buy or sell bitcoin, for instance, you simply have to enter the amount of BTC you want to purchase, verify your email address and other basic information, enter your bitcoin wallet address, and then make the payment.
- MoonPay also offers a wide range of payment options. You can buy bitcoin with a debit card on MoonPay, or use other options like credit card, bank transfer, Google Pay, Apple Pay, SEPA and SEPA Instant (for EUR denominated transactions).
- Some of the fiat currencies supported by MoonPay (other than the US Dollar) include the Brazilian Real (BRL), the Pound Sterling (GBP), the Japanese Yen (JPY), and more.
- MoonPay incorporates world-class security and privacy features, including data encryption, disaster recovery system, error monitoring, and anomaly detection technologies. Their security systems and policies are reviewed and updated constantly to ensure they don’t become outdated.
- MoonPay’s fee structure is fairly unintimidating, charging a maximum of 4.5% of the total amount from buyers, and 1% from sellers of cryptocurrency.
All these features and benefits make MoonPay one of the most popular crypto exchanges among new and experienced traders, with a growth rate of more than 1700% since its inception.
Coinbase is easily one of the best crypto exchanges for beginners with a wide range of cryptocurrencies on offer and extremely tight security.
For more experienced, professional traders, Coinbase offers an advanced trading platform known as Coinbase Pro.
The availability of both beginner-friendly and advanced-level functionalities make Coinbase a popular trading exchange.
Here are more things to like about Coinbase:
- Coinbase allows traders to buy, sell, swap, and donate more than 50 cryptocurrencies, including Ethereum, Solana, Bitcoin, Cardano, and more.
- The cryptocurrencies you buy through Coinbase and store in your Coinbase wallet are covered by the platform’s insurance policy until it’s withdrawn. The platform also uses a two-factor authentication system for maximum security on all transactions.
- Coinbase is a geographically decentralized crypto exchange with no headquarters and is available in over 100 countries. It’s free of any government control and supervision whatsoever.
- The Coinbase app has a simple UI, reminiscent of online banking apps. The simple UI makes it easy for beginners to break into crypto trading without feeling intimidated.
- Coinbase supports many different payment methods, including wire transfer, debit and credit card payments, and ACH transfer.
Coinbase was founded in 2012 and remains one of the oldest and most successful crypto exchanges in the world. Its only drawback is the relatively complex fee structure which charges different rates for wallet, card, and credit transactions.
Kraken is popular as a low-cost exchange. It’s also known for promoting quick adoption of cryptocurrencies and bringing financial inclusion and freedom to all parts of the world.
Here’s what also makes Kraken a worthy name on the list:
- This trading platform offers an ever-growing number of cryptocurrencies. Currently, you can trade more than 120 cryptocurrencies on Kraken, including Algorand, Kava, Cosmos, Qtum, as well as the popular coins like Bitcoin, Dogecoin, and Ethereum.
- Kraken Pro offers some of the lowest transaction fees, typically charging between 0.00% and 0.26% of the total transaction amount.
- Kraken helps secure your investments with a world-class security team and effective security features. These include safe coin storage with offline air-gapped deposits, full reserves for immediate withdrawal, 24/7 surveillance of servers, and high-level data encryption.
- Some other security features offered by Kraken include customizable API key permissions, self-serve account locks with email confirmation for every withdrawal, configurable account timeouts, and SSL encryption for secure browsing.
- Kraken offers speedy transactions, low processing times, and a wide range of funding options. Some of the payment methods you can use on Kraken include SWIFT, Fedwire, SEPA bank transfer, wire transfer, and PayID.
Kraken is certainly one of the best trading platforms for experienced crypto traders. It offers an enticing mix of low fees and advanced features, like margin and futures trading.
Bisq offers a completely decentralized, open-source platform. It’s an exchange that truly follows the ethos of the crypto revolution.
You don’t need to register yourself on Bisq to start buying and selling cryptocurrencies. If you’re a beginner or just want to test the waters before you invest any serious money into cryptocurrencies, the no-registration proposition can come as a huge relief.
Here are some Bisq features that you might like:
- Bisq comes with an open-source software and is funded almost completely by donations from its community users. As a trading platform, it’s completely independent, decentralized, and free from any influence from third parties.
- Trading on Bisq doesn’t require registration. You’ll never be asked to provide any personal details. It’s the perfect platform for crypto enthusiasts in a world where data privacy is becoming a massive problem.
- Bisq offers a wide variety of cryptocurrencies for trading, such as Dogecoin, Monero, Bitcoin, and Litecoin. It’s available globally and supports more than 50 payment methods, including wire and ACH transfers, cash deposits, and card payments.
- Bisq charges both a trading fee and a mining fee for crypto purchases. Transaction fees can add up to anywhere from 0.10% to 0.70% of the total.
- Robust security features like a P2P network, multi-signature escrow, and a security deposit make Bisq an appealing option for traders.
The decentralized setup can make Bisq a little harder to understand and use than other crypto exchanges. It’s an ideal choice for experienced traders, but if you’re a beginner, you might need to get past a moderately steep learning curve.
Gemini is one of the largest US-based crypto exchanges and offers traders more than 75 cryptocurrencies to buy, hold, and sell. This crypto trading platform was designed for new as well as experienced traders, so whichever group you belong to, you’ll find something to like about Gemini.
Here’s what Gemini offers:
- Gemini has a very low minimum purchase amount, allowing users to buy as little as 0.00001 bitcoins. If you’re just starting out and don’t have a ton of money to trade cryptocurrencies, Gemini might be a great doorway.
- Gemini offers a simple, user-friendly smartphone app that can be used to track your crypto trades and investments. You can set up alerts for when the price of a crypto you’re tracking changes by a certain margin so a sudden price drop doesn’t catch you off-guard.
- Gemini has a strong security framework (with features like two-factor authentication and address allow-listing). It also provides insurance for any cryptocurrency held in its hot wallet.
Gemini isn’t as popular as some of the other exchanges on the list, but it’s still a worthy contender. Especially so if you’re a beginner who wants to get the lay of the land before going all in.
Always Choose a Reliable Exchange
Now that you know the features and benefits offered by five of the most reputed crypto exchanges in the world, you can choose the one that best fits your needs. The right exchange will ensure top-notch security and seamless transactions.
The exchange you select will have a considerable impact on your profitability, so choose wisely. Of course, don’t go for the cheapest one, or you might lose all your money to a scamster.