It’s been a while since the first cryptocurrency came to the world in 2009, the field became more expansive, and it is literary growing every single day. People store, trade, and invest in crypto, they take it quite seriously and consider it a passive or an active income. To interact with the cryptocurrency, you’ll need an essential kit, and one of the tools is a cryptocurrency exchange. Before going deeper, do old but good research to reduce risks and perform better.
What Is a Crypto Exchange?
It’s a platform where you buy and exchange cryptocurrency and acts as an intermediary between buyers and sellers. That’s an exact place where you start your bright investing/trading future.
What Should You Pay Attention to?
Have a look at the following crucial points to make the best choice:
- how secure it is
That's indisputable # 1. No doubt, when we’re talking about finance and funds, it’s essential to feel secure and don’t be stressed out. A good crypto exchange will always think of the security issues and offer to the users a two-factor authentication, I.D. verification, and insurance for assets.
It‘s about trading crypto and the overall operation price. Fees include Maker, which provides liquidity, and Taker that take liquidity away. The fees are not stable, and they depend on the exchange that charges them when a customer buys or sells assets. You can use a special calculator that counts the fees you need to pay for the operation.
- UI/UX design
This is important because that helps manage your business in the smarter and easiest way. A user-friendly design guides you through smoothly, allowing you to use the platform quicker and more efficiently. It should be neat and clean to avoid wasting your time once you need to find something or make a transaction.
- a variety of supported crypto
The more well-known, approved coins and tokens an exchange has, the better. That empowers you to choose and make your own decisions, trade, and invest most profitably.
- customer support
Once you have a question or a problem, or any kind of misunderstanding, it’s great to have a shoulder to lean on. Good crypto exchanges always have a support center, sometimes a 24/7 option is possible since all the operations are based online and worldwide.
Top 10 Crypto Exchanges
One of a kind, the most popular and prominent at the moment. Binance has its own cryptos such as BNB and BUSD, a wallet, and three different exchanges — Binance.com, Binance.us, and Binance DEX. Binance meets all the features you should look after carefully.
- comparatively low fees;
- a wide variety of cryptos;
- credit/debit cards accepted;
- fast transactions.
- challenging for newcomers
Once talking about Coinbase, customers mark a great design that makes it easier to use the platform and interact with it. Coinbase has its own wallet, a handy mobile app, and an additional platform called Coinbase Pro. Coinbase is testing a new subscription service that makes trading fees lower at the moment of writing.
- debit/credit cards accepted;
- simple to use tanks to a UI design;
- high liquidity;
- wide variety of coins.
- quite high fees;
- Trading tools are limited.
The platform where you can buy, trade, land, and sell crypto, especially if you’re an advanced trader or investor. It’s famous for being a super-secure and reliable exchange out there, having multiple account verification layers and strong security control. It’s available in 200+ countries but supports a smaller variety of cryptos than other exchanges.
- available worldwide;
- 24/7 support;
- quite low fees;
- margin trading is possible;
- perfect for advanced customers.
- could be difficult for newbies
It’s a perfectly made platform for those who are new to the crypto market and eager to join the community of traders and investors without any additional fuss. It’s a growing and developing network, always updating and aiming to help its customers to begin with crypto.
- UI design;
- debit/credit cards accepted;
- no withdrawal fees;
- a secure and legit platform;
- fast transactions;
- a truly vast variety of cryptos;
- mobile app available on Android and iOS;
- affiliate and loyalty program.
- no trading bots and copy trading
It is considered one of the most secure and trusty exchanges that offer an easy-to-use platform and 50+ cryptocurrencies to trade and invest. With Gemini, it’s possible to spend your crypto in the real world and get interest from unused cryptos.
- advanced security;
- a mobile app is available;
- low fees;
- built-in educational resources;
- credit/debit cards accepted.
- doesn’t have some prominent coins such as Cardano (ADA), Solana (SOL), and Stellar Lumens (XLM);
- no margin trading;
- deposit methods are limited.
It’s quite a popular decentralized exchange among those who care about security and anonymity. The platform is believed to be the safest place to invest and trade because it’s decentralized and built on Ethereum, so it has the same security system. Another peculiar feature is that the network has a liquidity pool you can stake or invest.
- you can trade anonymously;
- A large variety of ERC20 tokens are supported;
- a truly decentralized platform;
- low fees;
- a possibility to create and pair an ERC20 token;
- a mobile app is available.
- supports only assets based on the Ethereum platform
The exchange provides an intuitive design and spot trading for beginners and a great variety of features for advanced traders and investors. FTX empowers you to choose from over 130+ cryptocurrencies, stake and get interest, hold their native token called FTT, use their own NFT marketplace, and a lot more.
- low fees;
- NFT marketplace;
- have their native debit card;
- a vast crypto selection;
- crypto staking and margin trading are possible.
- doesn’t support some leading cryptocurrencies such as Cardano (ADA), Polkadot (DOT), and Stellar (XLM)
The exchange offers a range of cryptos, over 300, and it’s one of the largest on the market. The platform is one of the best in terms of service quality, advanced features, security issues, and UX design. It would be a perfect choice for beginners and experienced traders or investors.
- wide currency variety;
- very low fees;
- welcoming for newbies;
- secure and trusty;
- anonymous trading;
- 24/7 support center.
- a law trading volume;
- some bugs appear during high-traffic periods.
This platform attracts because of its neat and easy-to-follow interface that appeals to newcomers just starting their trading/investing career. It’s a safe choice as the platform doesn’t require your personal data, and it doesn’t hold your cryptocurrency, so once it’s hacked, you’ll never lose your funds. It is also the quietest, as it sends the crypto you buy straight to your wallet, and the fiat funds you get from the sale are sent to your bank account right away.
- excellent for beginners;
- Bitcoin and Ethereum calculator;
- loyalty program;
- different payment options — debit/credit cards, bank transfer, etc.;
- spending limits are high;
- quick purchasing;
- higher fees;
- don’t have a mobile app;
- limited range of cryptos, 70+.
The platform is considered an ecosystem offering multiple functions and programs such as Debit Card Cashback, Card Funding, Visa Card Required for Earn, Crypto Credit, crypto exchange, a wallet, an NFT marketplace, etc. As you can see, they grow and develop, add some new features, and to the top of that, have many positive feedbacks on the Net.
- high-level secretary system;
- margin trading available;
- credit/debit cards payment with cashback;
- easy coveting money process;
- limited KYC Requirements;
- opportunity to earn interest.
- comparatively high fees;
- not UI friendly for beginners.
Wrapping It Up
All in all, a cryptocurrency exchange is an essential thing once you want to start investing and trading. Your main task is to choose the option that will be the best in your very own case — as the number of high-quality exchange platforms only grows, it’s getting challenging to pick one without checking on them. It would also be helpful to do your detailed research and consider all the pros and cons of each crypto exchange from the top chart you can find above.