Best Crypto Exchanges of 2021-2022
Cryptocurrency is the new boom in the digital finances and exchange marketplace. As more and more people are getting access to it, most exchanges have not been able to keep up with the demands of a growing customer base.
What is a crypto exchange anyway?
Well, digital currency exchange is where people buy or sell Digital currency against other online currencies. In the world of cryptocurrencies, a cryptocurrency exchange will allow you to swap fiat currency [dollars, euros, etc.] for a cryptocurrency [bitcoin, ether, etc.], or to swap one cryptocurrency for another [Litecoin for Ethereum].
There are some very popular names in the digital currency exchange space right now, including Coinbase, Binance, Kraken, etc.
Here is a checklist that you want to go through before opting for any exchange. Also, study their terms and conditions before going on board to use them appropriately.
Most of the exchanges are free to join. However, many of them charge fees for every transaction you make on their platform. So, before choosing an exchange, it is better to do a bit of research on their fees. There are some exchanges that claim to be fee-free, but the platform charges hidden costs during every transaction you make, so it is better to avoid them at all costs.
Here are a few things to consider before signing up with an exchange:
Some of the exchanges require minimum deposits; others don't.
Exchanges charge different amounts for every transaction you make on their system. So, before signing up, it is better to find out how much they would cost you at the end of the day. Some exchange might charge you twice or thrice for a single deal, so do some research to find out which one offers you the best rates.
Make sure to have a look at the exchange rate before starting your deal with an exchange. Most of them have different rates for different cryptocurrencies. One might be offering you more Bitcoin than another, so always check that too before starting your trade.
Best Crypto Exchanges of 2021-2022
Here are a few exchanges that we think would best serve you as of 2021:
Kraken is one of the most popular exchanges on the market right now. It was founded in 2011 by Jesse Powell, and it has grown into a reliable crypto exchange that provides its services to more than 800 000 clients all over the world. The Kraken system is secure and safe, with full protection against DDoS attacks.
The interface is user-friendly, and the exchange even offers its services in the Japanese language right now. It has recently added cryptocurrency SegWit to enable faster transactions. Kraken is based out of Europe (Denmark), but it provides its services globally.
Users can fund their accounts with cash or digital currencies, with the most popular deposit methods being SEPA, SWIFT, and bank wire.
They have very low fees for every transaction you make on their platform. The average fee stands at just 0.19% of the overall amount you invest, which is one of the lowest fees on the market right now. The Kraken system also takes care of its clients by offering them 100% protection against DDoS attacks.
BitMEX is the one-stop destination for all your cryptocurrency trading needs, offering a high-standard digital assets trading platform catering to traders around the globe 24/7 with cutting-edge technology and services.
It offers spot trading and margin trading with leverage and futures contracts for digital assets, with a strong focus on providing unparalleled trading services for its customers from all over the world.
BitMEX has an extremely user-friendly interface that allows users to get started immediately without any complex configurations. In addition, it offers access to 24/7 customer service and supports through multiple channels.
BitMEX is a platform designed with safety, reliability, and user experience in mind; the result is a secure cryptocurrency trading platform with only the features its users need to enhance their trades with ease.
Binance crypto exchange was one of the top-tier exchanges in 2019, and it is likely to remain that way for a while.
Binance crypto exchange offers some of the lowest fees on the market right now - 0.10% per trade. The interface is user-friendly, even if you are new in this business. Besides, it has its own native currency called BNB, which allows users to get 50% discounts on their transactions.
Binance has recently opened an office in Malta, and it is likely to become one of the largest exchanges in the world by 2020!
Coinbase crypto exchange is very user-friendly, with a fairly simple UI that makes it easy for the users to find their way around. It is registered as a broker-dealer firm and is fully regulated by United States law. Users can use the site to buy and sell cryptocurrencies using fiat currencies, but it doesn't yet provide crypto-to-crypto trading options.
Coinbase is a fully regulated platform, so the users can be sure their funds are 100% safe. The site requires several layers of protection to keep hackers away from your account at all times.
It must be noted that the crypto exchange has faced criticism from its users for being too strict when it comes to its AML/KYC protocols. Users are required to provide their photo ID and other personal information before they can start using the platform.
Coinbase has a good reputation among cryptocurrency users, with many big traders using it as their primary platform for making deals.
The platform charges high fees for every transaction you make on its system. The deposit fee is 1.49%, the trading fee ranges between 1% and 3%, and there is an additional fee for transferring funds without making any trades.
FTX crypto exchange is a fully operational crypto-crypto exchange platform that offers users the best prices with great liquidity.
- Security measures are high enough to keep all of its users' funds 100% safe at all times.
- Good reputation among experienced traders.
- Easy to use interface for new traders.
- High platform liquidity makes it possible to buy or sell large sums of digital assets without any problems.
- Offers over six different trading pairs, with multiple cryptocurrencies being available for trade right from the start.
- High trading fees.