5 Best Crypto Exchanges in 2022 [For the US, India, and More]
- Short on Time? Here Are the Best Crypto Exchanges in 2022
- Best Crypto Exchanges — Full Analysis (Updated in 2022)
- Binance — The World’s Biggest Crypto Trading Platform for Seasoned Bitcoin Traders
- Coinbase — Easy-to-Use Crypto Exchange for Beginners
- eToro — CopyTrader Feature to Copy Big Wallets and Make More Money
- Kraken — Trade 60+ Cryptocurrencies Including DOGE, SHIB, and More
- Gemini — Insurance Against Some Fraud for Cautious Traders
- Quick Comparison Table: Best Crypto Exchange Features
- Tips on Choosing the Best Crypto Exchanges
- FAQs on the Best Crypto Exchanges
Whether you’re just starting out in the world of cryptocurrency, or you’re a seasoned trader hoping to take your income to the next level, finding the right exchange can be difficult. Some platforms have limited currencies, lack security, or might take more in fees than you made by trading in the first place.
I looked at 45+ of the best crypto exchanges and shortlisted the very best of the bunch. I considered available currencies, ease of use, security, and fees. All the exchanges on my list offer clear and simple interfaces, features that will maximize your wallet’s potential, and fees that don’t break the bank.
My top recommended crypto exchange is Binance, because of the sheer number of currencies you can exchange, including altcoins and fiat. Start trading with Binance today and get its sign-up bonus for multiple benefits to give you a head start.
Short on Time? Here Are the Best Crypto Exchanges in 2022
- Binance – The biggest crypto trading platform with more than 500 currencies. Complete its sign-up bonus campaign tasks within 7 days to take advantage of its great new user offer.
- Coinbase – The oldest crypto exchange and easy-to-use interface for beginner users.
- eToro – CopyTrader feature to headstart your crypto trading activity by mirroring high-performing accounts.
- Kraken – Trade over 60 coins including BTC, ETH, DOGE, and more
- Gemini – Intuitive interface makes it perfect for first-time traders.
Best Crypto Exchanges — Full Analysis (Updated in 2022)
Binance is the largest crypto exchange in the world, with over 500 currencies for deposit or withdrawal, including altcoins. It supports all the major coins, such as BTC, ETH, XRP, DOT, SOL, ADA, etc, as well as meme coins like SHIB, and DOGE. This exchange also has a fiat market with 15 available currencies. If you like to keep up with the latest altcoin releases, you’ll usually find them listed first on this platform.
If you have been trading in Bitcoin for a while, you might appreciate Binance’s aesthetic, which favors advanced users and comes with a steep learning curve. However, it isn’t difficult to navigate, and spot traders can select from 3 different interfaces depending on personal experience and preference. The Advanced option gives you access to sophisticated charting tools, so you can make fully informed decisions. If you’re new to trading, the Basic view gives you all you’ll need to get started.
One of the best things about Binance is its low fees. As with all platforms, the amount you are charged will vary depending on how much you are trading or exchanging. However, with just 0.1% fees for trading, as well as 0.5% for instant buy/sell transactions, it remains one of the most attractive choices. There is also a simple limit structure in place, with withdrawal limits set at 2 BTC every 24 hours at Level 1, and 100 BTC every 24 hours at Level 2. This means you can quickly fall into a trading routine without any surprises.
Another great thing about Binance is its trading options. For selected pairs, margin trading is available. You can trade with a leverage of up to 10x for certain coins, with either cross margin or isolated margin, depending on how much you are prepared to potentially lose. Unusually, Binance also offers its users a P2P trading facility, so you can connect directly to other buyers and sellers.
A downside to Binance is that it has been called under scrutiny by some governments, and it is now unavailable in the US, with extreme restrictions in the UK and Japan currently under discussion. US traders can use Binance.US, which is a spin-off company that uses US dollars as its currency. If you'd like to use Binance in the US and take advantage of all its benefits, I suggest you try using a VPN.
New subscribers can take advantage of Binance’s Sign-Up Bonus campaign to get exclusive rewards when you complete introductory activity tasks within 7 days.
Coinbase is one of the easiest exchanges to use, with a user-friendly website and mobile apps that are great for both novices and long-term traders. Your portfolio is easily accessible on the main dashboard, with just a couple of clicks to buy and sell cryptocurrency. You can connect the app to a bank account, or top up your Coinbase funds to trade with. Once you get used to trading, you have the option to upgrade to Coinbase Pro, which gives you access to limit and stop order trading types.
This exchange supports over 100 currencies, including Bitcoin, Ethereum, Solana, Polkadot, Dogecoin, Litecoin, etc. Thanks to Coinbase’s simple design, you can trade without having to concern yourself with external wallets or decentralized exchanges, while still getting the chance to reap the rewards of shrewd crypto trading.
Those who are new to crypto can benefit from Coinbase Earn, which rewards users who read particular articles, watch videos, and take quizzes. This is a great initiative if you just started in the world of cryptocurrencies, as it allows you to learn and earn at the same time. The articles and quizzes aren’t too taxing or time-consuming and give you insights into tricks of the trade and warning signs that might take years to learn through experience alone.
One downside to Coinbase is its fees, which are higher than many other exchange platforms. If you choose to upgrade to Coinbase Pro, you do get smaller fees overall as it converts to a percentage of the trade value. Upgrading is completely free.
If you sign up to Coinbase, you can get its special offer of $5 free Bitcoin in your account.
eToro’s innovative CopyTrader tool is a neat feature that allows you to copy big wallets’ activities in order to enhance your account’s potential. This means that you can choose which traders to follow, setting your account to mimic their movements in the market. Mirror trading is a great choice if you are new to cryptocurrencies and don’t understand how to maximize your trades. As eToro says itself “All you need to do is log in once a week to see your account balance”. You also set your own risk-management parameters, so you don’t have to worry about losing funds that you don’t have. If you are an experienced trader, you might consider setting up an eToro account as you will reap the benefits if other traders choose to copy your trading activities.
The website and iOS and Android apps are simple to use, with clear interfaces. You can also open an account within 1 day, which is impressive. Preliminary checks mean that you have to wait to start trading with other exchanges, but with eToro you can sign up instantly with your Facebook or Google account which acts as your verification. You do need to deposit $200 as a minimum when you start, so bear that in mind before signing up.
It offers 27 currencies to its users. US customers can get Bitcoin, Ethereum, Litecoin, and Ripple, although be aware that it isn’t currently available in New York and some other US states. If you are using a quality VPN while you trade, such as ExpressVPN, you can bypass the geoblocks and gain access from anywhere. Recently, eToro withdrew trading of Cardano and Tron positions, however, it hopes to introduce ETFs and stocks as an alternative.
One problem with eToro is its complicated fee system. However, if you intend to trade regularly, the individual fees on certain exchanges aren’t too high. For example, Bitcoin exchanges start at 0.75%.
eToro is currently offering a special bonus to its new users which allows you to get $50 of currency absolutely free when you sign up.
4. Kraken — Trade 60+ Cryptocurrencies Including DOGE, SHIB, and More
Kraken offers users over 60 cryptocurrencies, including Bitcoin, Ethereum, Cardano, Solana, Dogecoin, Stellar Lumens, etc. It also supports stablecoin including USD, Tether, and Dai. Unlike most other exchanges, you can even convert US dollars into other currencies, such as Japanese yen and Swiss francs.
It is a good choice for brand new bitcoin traders, thanks to its simple interface and clear prompt buttons. If you are a beginner, you can choose its “earn” feature, where you deposit your balance and earn interest from Kraken. The order form is simple, with options to Buy, Sell, or Convert. You can buy directly from your linked bank account, so you don’t need to top up your account with a lump sum before you start trading.
This exchange is known for its high banking fees, but you can sign up to Kraken Pro to reduce them somewhat. There are no specific requirements if you want to get Kraken Pro — just pick the Kraken Pro app on your device or select it on the website.
You can grab a special bonus offer if you sign up today. This entitles you to 20% of a revenue share.
5. Gemini — Insurance Against Some Fraud for Cautious Traders
Security against hacking can be a major concern for crypto traders as there is usually no way to claim back your stolen funds like with conventional banking. Gemini claims to have an insurance policy in place, which is reassuring, however, there are some limitations and it only covers stablecoin. Just like Binance and Coinbase, Gemini offers FDIC insurance for your stablecoin balances, and you can pay to cover your crypto assets to the value of $250k.
Gemini has over 50 currencies including Fantom, Ethereum, Bitcoin, Litecoin, Terra, etc. It’s also available to members of all 50 US states, which is great if you’re based in New York or one of the other cities that usually have limited access to trading exchanges.
The fee template is a little unusual and varies depending on certain factors. Purchase fees are influenced by payment type and range from 1.49% to 3.49%, and trade fees are set and follow a tier from $10 exchanges ($0.99 fee) to $200 ($2.99 fee). Although its trading and purchase fees are quite high, Gemini has low withdrawal fees, and users can even make up to 10 withdrawals per month for free.
You can make a start with Gemini today and get a huge $150 in Bitcoin when you deposit $1,000 into your account. If you want to start smaller, there are also multiple new account promotions on offer.
Quick Comparison Table: Best Crypto Exchange Features
To choose the best crypto exchanges, I took into consideration their number of coins and fiat currencies, fees, mobile apps, and the existence of built-in wallets.
|Crypto Exchange||Fees||Available Cryptocurrencies||No. of fiat currencies||Mobile App||Wallet|
|Binance||0.015% to 0.10% purchase & trading fees, 3.5% or $10 for debit card purchases, $15 per U.S. wire transfer||500+||15||Yes||Yes|
|Coinbase||0.50% per trade, 3.99% for credit card, 1.49% for Coinbase wallet/bank account purchases, wire transfers are $10 for deposit & $25 for withdrawal||50+||3||Yes||Yes|
|eToro||$5 withdrawal fee, $10 monthly fee if account inactive for 1 year. Conversion fees for non-USD deposits and withdrawals||20+||35||Yes||Yes|
|Kraken||0% - 0.26% per trade, 3.75% + €0.25 for credit card purchases, & 0.5% plus 0.9% or 1.5% for ACH purchases||95+||7||Yes||Yes|
|Gemini||Fixed fee for trades under $200 of $0.99 - $2.99 or 1.49% for trades over $200, 3.49% debit or credit card purchase fees||63+||7||Yes||Yes|
Tips on Choosing the Best Crypto Exchanges
There are 4 main areas I focus on when I’m choosing a crypto exchange platform:
- Fees — It can be disheartening for new traders to see just how much standard fees can impact your overall funds. Consider both buying and trading fees, as well as banking fees, which can be where the hidden costs really add up depending on the method used. Finally, check how much it will cost you to actually withdraw your funds once you’re ready to convert your cryptocurrency into cold hard cash.
- Number of currencies — Seasoned crypto traders like to have a number of accounts open simultaneously to track various types of coin and make instant trades on those that are performing well. Exchanges that have fewer coins to trade in limit their users. This can be helpful when you’re just starting out, but when you get to grips with the techniques used by the pros, you’ll want to branch out into the best performing coin at any given time.
- Availability — Always check that the exchange platform you’re interested in is available in your location. If you’re in the US, for example, certain states have blacklisted the use of crypto exchanges. You can use a quality VPN to bypass geoblocks and access the websites you need while keeping your coin and personal data secure. I recommend ExpressVPN for its fast speeds, vast server network, and high-class security features.
- Security — Hackers are known to target crypto exchanges because of the high financial value and lack of standardized security regulations within the industry. Cyberattackers could easily gain access to your personal information if you use a crypto exchange without additional protection. Because of the financial risk, I recommend always using a VPN when you trade.
FAQs on the Best Crypto Exchanges
Where can I buy Bitcoin?
You can buy Bitcoin in all of these top recommended exchanges. The best exchanges all have mobile apps and clear instructions on how to buy and sell crypto and even fiat currencies.
How can I access Binance from the US and Canada?
You can access Binance from the US and Canada by using a VPN. A quality VPN sends your web traffic through its own secure servers, allocating you a new IP address in the country of your choice. You will also protect your devices and personal data when you use a premium VPN such as ExpressVPN, as they use 256-bit encryption and additional security features, such as an instant kill switch.
What crypto exchange offers the most altcoins?
Binance offers the most altcoins. As well as Bitcoin, Binance has hundreds of altcoins and token currencies including BNB, DOGE, ETH, USDT, LINK, ADA, and more.
Start Trading on the Best Crypto Exchange Now
Choosing the best crypto exchange either as a beginner to the world of trading, or to advance your growing wallets, doesn’t have to be tough. Just pick a platform with multiple currencies, solid security, intuitive apps, and fees that don’t leave you with far less in your wallet than you expected.
I recommend Binance because it has the largest amount of available currencies, caters to advanced users, and has reasonable fees at all levels of trade. You can get it today and take advantage of its New-User Bonus.
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