Did you know that there were over 18,000 digital currencies in circulation as of October 2022?Cryptocurrency exchange platforms are online trading platform to buy, sell and exchange cryptocurrencies. The main purpose of these exchanges is to convert fiat currency (dollars, Euros, etc.) to cryptocurrency (Bitcoin, Ethereum, etc.), and vice versa.
A large number of cryptocurrency exchange platforms have become globally popular. Finding the best crypto exchange varies from person to person and depends on whether the particular platform is user-friendly, secure and suitable for novices or advanced investors.
Top 10 cryptocurrency exchange platforms
Several Crypto Exchange platforms have become prominent over time. Below, we mention the ten cryptocurrency exchange platforms that you must try if you want to get into cryptocurrency investments.
Kraken was established in 2022. It is based in San Francisco but is available around the whole world. Investors have the option of about 185 cryptocurrencies. Professional investors can benefit from advanced order types and margin and futures trading. It has been a professional-friendly platform from its very early days.
Kraken has the best low-fee exchange on Kraken Pro. Kraken Pro is a professional-grade trading platform. Its fee is probably the lowest across crypto platforms. It supports a large number of cryptocurrencies. The exchange via Kraken is extremely liquid.
It has a tiered fee structure. Traders that have less than 50,000 USD of 30-day volume pay a makers fee of 0.16% and a takers fee of 0.26%. The fee can even be reduced even further with 10 million USD for 30-day rolling volumes.
Coinbase was formed in 2012. It was based in San Francisco. Originally meant to facilitate the sale and exchange of bitcoin, it is now a publicly traded crypto exchange and its market value has surpassed USD 36 billion. It has several units across the world in more than 100 countries.
Coinbase provides a trading experience that is much more secure and a large range of cryptocurrencies is supported. Being an easy-to-use platform, it is easy to carry out advanced trading on this platform.
There are several trading pairs and both beginner-friendly and advanced trading platforms are accessible. Exchange is extremely liquid as well. The platform feels like an online banking application making it more trustable. One can insure the digital funds using Coinbase and crypto can be stored either as a custodial option or a non-custodial wallet.
Crypto.com was launched in 2016. It is a leading global crypto exchange platform. It is available worldwide – more than 90 countries deal with crypto using crypto.com using more than 250 cryptocurrencies. There is a wide range of products offered on the crypto.com website. One can use the web-based platform to peruse the exchange features easily.
There is an availability of a vast ecosystem of digital assets. Crypto.com has its blockchain known as Crypto.org Chain. It also has a native token known as CRO and a crypto visa card and yield-generating crypto products.
Tyler and Cameron Winklevoss established Gemini in 2014, and it stands apart because of its emphasis on security and compliance. The hot wallet insurance offered by the New York-based exchange will make sure that user funds are protected in the case of a security breach.
Additionally, users must go through an identity verification process to reduce the possibility of fraud. It offers the highest level of security since it has robust security controls, ensures user cash, and is SOC 2-certified.
The money is secured with a hot wallet and a good security infrastructure in a highly liquid exchange. Customers are also advised by Gemini to use two-factor authentication to protect their accounts. Independent auditors have approved the security and compliance frameworks at Gemini, making it a security leader with SOC 2 certification.
Over 180 countries utilise BitMart, a global cryptocurrency exchange that was launched in 2017. Users have access to more than 1,000 digital currencies and tokens for buying, selling, and storing. There is support for a sizable number of cryptocurrencies.
It features a simple bitcoin buy/sell function as well as opportunities to earn bitcoins. BitMart is renowned for being a top trading platform for small and mid-cap cryptocurrencies. BitMart offers more assets and trade pairs than its industry leaders’ competitors.
Customers of BitMart have access to the exchange’s Earn feature, which allows them to profit from bitcoin assets held there. Reduced trading costs are also available to those who own BMX, the native cryptocurrency of the exchange platform.
6. Cash App
Cash App was introduced in 2013 by Block Inc. It enables users in the US and UK to transfer, spend, bank, and invest in crypto. The functioning is simply as a peer-to-peer payment software for mobile banking, but it also has an investing feature. It enables you to purchase, trade, and store Bitcoin from your smartphone easily and securely.
Through the Cash App, users may invest in stocks, ETFs, and bitcoin. Cash App differs from its rivals, such as Robinhood and Venmo, in that it lets users withdraw their Bitcoin to outside wallets. The Bitcoin Lightning Network is supported by it. Its features include an intuitive user interface and wallet withdrawals.
Bisq, a peer-to-peer (P2P) cryptocurrency trading platform launched in 2014, is an open source decentralised exchange that enables users from all over the world to trade a wide variety of digital currencies and tokens. It allows global access and does not require any Know Your Customer (KYC) identity verification process.
The platform boasts a wide range of digital assets, including over 120 trading pairs at this time. Bisq makes it easy and secure to purchase or trade cryptocurrencies without sharing any personal information or going through an intrusive identity verification process. With Bisq, users can select from different payment options such as bank wire transfers, ACH transfers and cash deposits to buy and trade Bitcoin and other cryptocurrencies.
Bisq is an ideal platform for crypto investors who want to trade on a safe, secure, decentralised exchange that does not require KYC identification or verification process. With its open source technology and privacy-oriented features, Bisq promises users the confidence in their investments and trades.
Binance is the largest cryptocurrency exchange platform in terms of the daily trading volume of cryptocurrencies. The cryptocurrency exchange platform Binance was founded by Changpeng Zhao. American consumers get access to more than 65 trading cryptocurrencies. Along with a little fee, there are several different order types and trading options. Investors may experience a difficult learning curve with Binance depending on their degree of experience and knowledge.
It includes a staggering number of market charts in addition to hundreds of cryptocurrencies. Users also have access to a variety of order types and trading choices, including futures and options. For clients outside of the United States, it also takes several fiat currencies, including USD, EUR, AUD, GBP, HKD, and INR. Despite currently having the greatest trading volume worldwide, Binance nevertheless runs into regulatory issues in a number of countries.
Since 2011, more than 4 million people utilise the exchange internationally as of right now. Bitstamp now supports a growing variety of cryptocurrencies for spot trading.
Along with US Dollars, you may now hold Euros and British Pounds. Bitstamp’s standard trading fee is 0.50% for all pairings. This transparent price is equivalent to the expert platforms of top competitors. The fees price is reasonably low. It has a long history of supporting crypto for over 10 years.
Coinmama has handled over three million users since its launch in 2013. Ilan Schuster, Nimrod Gruber, and Laurence Newman founded the exchange, which has its headquarters in Ireland. Coinmama is a simple exchange that can be suitable for inexperienced cryptocurrency investors using wallets on other platforms, in contrast to some other exchanges that provide a full array of goods and capabilities.
It has continuity in the bitcoin industry, a straightforward platform, and a clear security emphasis. The Coinmama trading interface is simple to use and straightforward. But then it will constrain the choices. Users may only sell Bitcoin on Coinmama; it does not permit trading between other cryptocurrencies.
Which exchange platform should you choose?
There are several factors one takes into account while choosing the perfect crypto exchange. Factors could be location, accessibility, fees, liquidity, coins offered etc. One of the most beneficial things you can do concerning cryptocurrency is to spend as much time learning as you can before investing in it.
Take into account your goals, the fee schedules and security precautions you are comfortable with, as well as any further procedures you’ll take to keep your money. The crypto market is prone to risks. Educating yourself is crucial, especially when dealing with an asset that may be more volatile than other hazardous investments.