Cryptocurrency exchanges play a major role when it comes to allowing users to buy, sell or trade any cryptocurrency out there.
If you want to buy some of the largest cryptocurrency tokens, such as Bitcoin and Ethereum, or even some altcoins such as Dogecoin, you will need to use a cryptocurrency exchange in order to complete this task.
That said, there are currently hundreds of cryptocurrency exchanges out there, all of which claim to have their own unique offering, that makes them stand out from one another.
Today, we will be taking a deeper dive into the world of crypto exchanges and hopefully show you everything you need to know about them, so you can avoid any mistakes when it comes to picking the right one for your specific needs.
Summary for Fast Readers
- Cryptocurrency exchanges facilitate crypto transactions and allow you to buy, sell or trade your tokens of choice.
- The best crypto exchanges for 2022 are Coinbase (Pro), Binance, Kraken, KuCoin and DXOne.
- The perfect cryptocurrency exchange for you is the one that offers you fair fees, a solid variety of tokens, and meets your demands and standards as a trader.
- Safety and regulation are two key factors that you need to take into consideration before picking the cryptocurrency exchange you will use to facilitate all of your interactions.
Best Crypto Exchanges 2022 Ranking List
The best cryptocurrency exchanges of 2022 will provide you with the ability to quickly and efficiently buy, sell or trade multiple cryptocurrency assets.
There are specific exchanges out there that provide you with additional features that you will not find anywhere else, such as their own specific charting tools or mobile applications with a distinctive look and level of functionality. With that in mind, here are some of the main exchanges you need to watch out for in 2022.
DXOne is an excellent cryptocurrency exchange that launched in 2020. Due to the fact that it’s one of the latest cryptocurrency exchanges out there, it has some of the latest and most advanced trading tools out there.
You get access to Easy Trading, for example, which allows you to swap tokens without much prior knowledge required in the field of trading. Alongside the main cryptocurrencies on offer, you also have a varied selection of altcoins.
In terms of the trading volume, this all shifts based on your trading volume, and they start from a 0.4% taker fee and a 0.4% maker fee, and decrease the higher trading volume you have.
The unique aspect of DXOne is in the fact that you get a 50% discount if you hold its native cryptocurrency token, known as DX1U.
Coinbase is a cryptocurrency exchange that was founded in 2015. While it provides you with access to a limited number of cryptocurrency tokens, you will have a solid selection once you use their Coinbase Pro version of the exchange, which consistently adds the latest altcoins as an offering. Alongside this, the exchange is known for its security measurements, where it employs high-level security standards and has never experienced a hack historically.
Due to the fact that it is quite a large and popular exchange, it also has the largest cryptocurrency trading volumes in terms of USD, which means that it has excellent liquidity. Additionally, it also offers margin trading and gives you access to Coinbase Earn, where you can earn crypto through different actions.
Binance is one of the leading cryptocurrency exchanges specifically tailored towards enthusiasts due to the fact that it provides the highest number of altcoins on the market. Alongside all of that, users can buy crypto with over 40 FIAT currencies, which means that little to no conversion is required to this exchange. It was founded in 2017, and it has a multi-platform support, which means that you can download a specific client for desktop devices as well as mobile devices and utilize its features to their maximum potential.
Another aspect of Binance that has been praised is its level of customer support, where they have a dedicated help center.
Then there’s the Binance Launchpad, where all customers can participate in the initial exchange offerings (IEOs), and alongside all of this, Binance even supports crypto lending.
Kraken is one of the oldest and most well-established cryptocurrency exchanges on this list, which started in 2011. It is U.S.-based and stands out due to its high level of liquidity and Over-The-Counter (OTC) service.
Additionally, there’s 24/7 customer support, as well as margin and futures trading as an availability. Kraken also has a high level of security and has historically never been hacked, so you can have a higher level of peace of mind while using the exchange.
KuCoin is a solid cryptocurrency exchange that was founded in 2017. Since then, it has become the home for a lot of cryptocurrency traders out there due to the fact that it shines with its selection of hundreds of cryptocurrency trading pairs.
It allows users to buy cryptocurrencies with FIAT currencies, has a solid customer support service, and has Futures and Margin trading as an offering. Alongside all of that, it shines through its bank-level asset security, which includes micro-withdrawal wallets, industry-level multilayer encryption, dynamic multi-factor authentication, and many other features.
Other Crypto Exchanges
There are hundreds of other cryptocurrency exchanges that you can pick from. However, the aforementioned options are the largest and safest cryptocurrency exchanges currently on the market, and with that, you get a high level of liquidity, low fees, and a solid user base behind them that’s active, which leads to a higher level of security and credibility behind them.
There are other exchanges, but these typically have higher fees and lower security due to most of them being unregulated. That said, there are solid options out there, but our selected ones are based on their level of security, solid fee structure, and overall user experience to offer.
What Is the Right Exchange for Me?
There are numerous factors that make one exchange stand out for a specific use case. The right exchange for you will highly depend on why you need it and what your goals are when using it. To make things easier for you, we have selected the right cryptocurrency exchange for specific requirements.
Best Exchange for Beginners: Coinbase
Coinbase is an excellent option for beginners due to the fact that it has one of the simplest user interfaces out there. All you really need to do here is create an account,
Best Exchange for Traders: DXOne
DXOne is the recommended exchange for traders due to the fact that it offers professional trading tools. You get access to customizable dashboards, an overview of the most listed coins, real-time price feeds, aggregated order books of multiple exchanges, arbitrage opportunity indicators m technical analysis, fundamental analysis research data, as well as anything else you might need as a professional trader.
Best Exchange for Lots of Altcoins: Binance
Binance has gained a high level of popularity and is the go-to option for many cryptocurrency traders looking for access to altcoins. This is due to the fact that Binance is an exchange that offers you the highest variation when it comes to altcoins out there, where you can find almost every altcoin that has come to the market.
Cheapest Crypto Exchange: Coinbase Pro
If what you are seeking are low fees, Coinbase Pro has you covered here. Coinbase Pro offers some of the lowest fees on trades on the market if you are an active trader, and this is why it has been selected for this specific use case.
Which Crypto Exchange Has the Best Phone Application?
Binance is one of the largest cryptocurrency exchanges out there, and one of its stand-out features is its mobile application. You get access to quicker and easier login through the QR-code scanner, as well as home page icon customization. You have local settings support, and you can keep track of all incoming and internal transactions with ease on the app. Furthermore, you are getting the same experience as you would on the desktop version of the web app, and this is quite impressive.
What Is the Best Place to Trade Crypto?
DXOne is the go-to cryptocurrency exchange for trading cryptocurrencies due to a variety of different features which make it stand out. You get access to the research platform, which lets you view real-time market data from top exchanges 24/7, including thousands of cross-rates as well as price feeds. You get access to the aggregated price index data, trading volumes, and industry news, so you can make the most well-educated decision before conducting a trade.
Then there’s the DX1U token, where, once users hold enough tokens, they can get a 50% discount on taker and maker fees whenever they buy or sell cryptocurrencies on the platform. Then there’s the security token known as DX1S, which grants token holders a proportionate share of 25% of all crypto-revenue that gets generated on the platform. Alongside all of this, you get access to smart trading through the in-house built software, as well as a custom dashboard where you can create your own research, analysis, and trading dashboards.
What You Need to Know About Crypto Exchanges!
Before diving deep into the world of cryptocurrency exchanges, there are a few things that you need to be aware of first.
Make Sure to Buy Real Cryptocurrencies
Ensure that you are accessing a platform that allows you to buy cryptocurrencies. This is due to the fact that many cryptocurrency exchanges will typically offer you CFDs, which allow you to speculate on the price of an asset. In other words, you are not directly the owner of the tokens here but are speculating if their price will go up or down in value. This is why you need to ensure that the exchange you pick will provide you with direct ownership over the tokens.
You need to find a cryptocurrency exchange that has specific security features implemented, such as cold storage, two-factor authentication, and insurance on your cryptocurrencies. On-exchange wallets will typically not provide you with access to your private keys, so ensure that you are using your private wallet as well.
Ensure that the cryptocurrency exchange you are using is regulated. This will prompt you to complete a know-your-customer (KYC) verification process. However, it will provide you with a higher level of security.
FAQ’s About Crypto Exchanges
How Did We Choose the Best Crypto Exchanges?
Each of these best cryptocurrency exchange sites and trade platform options was chosen based on their level of security, token availability, payment methods, regulation, and ease of use.
Which Cryptocurrency Exchange Has the Lowest Fees?
Out of all exchanges on the list, by default, Binance has the lowest fees, with 0.02% to 0.10% purchase and trading fees. However, exchanges such as DXOne do come close, assuming you are holding onto the DX1U token.
What Is the Best Cryptocurrency Exchange for Day Trading?
The best cryptocurrency exchange for day trading is the DXOne exchange due to its detailed dashboard as well as the DX1U token, where you can get an up to 50% discount on trades.
Are Crypto Exchanges Trustworthy and Legit?
Each of the exchanges listed here is fully trustworthy and legitimate due to their time on the market, liquidity, user-base, and most importantly, level of regulation.
Hopefully, now you have learned everything you need to know about picking the best cryptocurrency exchange for your specific trading needs.
Each of these options will provide you with something unique, as each of them is competing to be on the #1 spot. There is not a perfect exchange out there, but some of these options come close.
What will ultimately help you decide which exchange is right for you are your specific needs, and if you are after the lowest fees, the best features, or the highest altcoin availability.