Top 10 Best Crypto Exchanges in USA 2022

crypto exchange

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Best Cryptocurrency Trading Platform

In 2022, cryptocurrency trading is a booming industry that has only been around for a few years. However, it has grown from a niche market to an industry worth billions of dollars. The vast majority of traders are individual traders looking to make money with cryptocurrencies, while some institutional investors and hedge funds have also entered the market.

The cryptocurrency market is still very volatile, and many people have lost money because they were not careful when trading. However, there are many reasons why cryptocurrencies are important and will continue to be in the future.

The best cryptocurrency trading platform can be difficult to find, but it's worth it. Of course, many factors need to be considered to make a good choice, such as security, customer service, ease of use, and payment methods.

What Is a Cryptocurrency Trading Platform?

Trading platforms are a popular way to trade stocks and other assets. However, they are different from exchanges, which act as marketplaces for buyers and sellers.

A trading platform is an online service that allows traders to buy and sell securities. Traders can use the platform to find a broker who will execute their trades, or they can execute trades themselves through the platform's interface. Trading platforms usually charge fees for this service in commissions on each trade.

The difference between a trading platform and an exchange is that a trading platform is an online service that allows traders to buy and sell securities.

What Is a Cryptocurrency Exchange?

Cryptocurrency exchanges are online platforms that allow users to trade cryptocurrencies. It is a way of exchanging one cryptocurrency for another.

Cryptocurrency exchanges are used by investors and traders who want to trade between cryptocurrencies or between cryptos and fiat currencies like USD, EUR, GBP, JPY, etc.

Cryptocurrency exchanges are centralized platforms. They are typically used by those who want to buy and sell cryptocurrencies and by investors who want to buy and hold cryptocurrency assets.

Features Guide to Cryptocurrency Exchanges

Cryptocurrency exchanges vary in terms of features and functionality. The features you are looking for will depend on your preferences.

Some cryptocurrency exchanges might be better than others, depending on the kind of trading you want to do. For example, if you want to trade in a lot of cryptocurrencies at once, then you should use an exchange that supports trading in a lot of cryptocurrencies pairs.

Your preference will determine which type is best for you, but there are still some key areas every trader should be concerned with.

Reputationcryptocurrency exchange reputation

The reputation of a cryptocurrency exchange is important because it determines how much trust people will have in it. It also affects how quickly an exchange can grow and its competitiveness in the market.

KYC and AML

KYC, or Know Your Customer, is a process financial institutions and other organizations use to identify their customers. This process helps to verify the customer's identity and may also provide information on the customer's creditworthiness.

AML, or Anti-Money Laundering, is a set of international legal requirements for preventing money laundering. These rules make it difficult for criminals to disguise their money-laundering activities as legitimate financial transactions.

The purpose of KYC and AML is to prevent people from using cryptocurrencies for illicit purposes like illegal forms of financing and money laundering.

Both are widely considered to be beneficial security measures. However, the depth of security protocols greatly affects user experience in terms of convenience, ease of use, trading, and withdrawal capabilities.

Storage and Security

Cryptocurrency exchanges are the common platforms where people can buy and sell cryptocurrencies. Therefore, it is important to understand the difference between a cryptocurrency exchange and a digital wallet.

The cryptocurrencies are stored in digital wallets, not connected to any central bank or government. The wallets are private keys that give the users access to their coins. The cryptocurrency exchanges store the currency in their wallets and allow users to trade them on their platform.

Trading Fees

Cryptocurrency exchanges are the platforms where you can buy and sell different cryptocurrencies. These exchanges charge transaction fees for every trade that you make.

Two fundamental types of trading fees:

  • Trading fee: This is the fee charged by the exchange for your trade. It will be a percentage of the total amount of cryptocurrency you have traded.
  • Withdrawal fee: This is the fee charged by the exchange when you withdraw your funds from them to your bank account or another cryptocurrency wallet.

Look over our article that discusses several options for crypto with the lowest fees.

Customer Support

crypto agentSupport is an important factor when it comes to choosing a cryptocurrency exchange. There are many reasons why support is important, but the most important one is that it should be there in the first place. If an exchange has good customer service, you can be sure that your questions will be answered and your coins will be safe.

User Experience

The user interface of a cryptocurrency exchange is very important because it impacts your experience with the platform. Therefore, it's important to have an intuitive design that is easy to understand and use.

A good user interface also helps traders make better decisions. It gives them a better understanding of the market, allowing them to make more informed trades.

International Restrictions

Cryptocurrency exchanges are not regulated by any country, which means they can operate freely in any country. However, some countries have imposed restrictions on cryptocurrency exchanges.

The 10 Best Cryptocurrency Trading Platforms Reviewed

Below we have compiled an excellent list of the top 10 best cryptocurrency trading platforms and exchanges.

You may find that some suit your personal trading preferences and levels over others. If you're not sure what you need in an exchange, skip down to our features guide below. Here are the best crypto exchange platforms currently available.

FTX US is a cryptocurrency trading platform that was launched in 2017. It is a US-based company that offers traders the opportunity to trade cryptocurrencies and fiat currencies. They offer a wide range of trading pairs on the platform, including Bitcoin, Litecoin, Ethereum, Ripple, and many others.

The company has been making waves in the crypto community with its innovative and intuitive design. The user interface is clean and easy to use for both beginners and advanced traders alike.

The main goal of FTX US is to make its product accessible to everyone. Therefore, they have made it as easy as possible for new traders by having an interactive demo area where users can learn about all the features before trading with real money.

Pros

    • Great for advanced traders
    • Lower fees for withdrawal
    • Non-fungible token (NFT) trading

Cons

    • Relatively low number of cryptocurrencies available
    • Reports of lacking customer support

eToro is a social trading company that offers a variety of financial instruments. The company was founded in 2007 and has since grown to over 10 million users. They offer to trade in stocks, commodities, currencies, and cryptocurrencies.

eToro is best for people who want to trade in cryptocurrencies without worrying about complicated technical analysis and trading strategies.

It's best for people who are new to investing and want to learn more about it. It's also great for experienced investors who want to diversify their portfolios without spending time on research.

Users can also copy the trades of other traders on the platform who are more experienced than them.

Pros

    • Popular trading platform
    • Popular trade matching
    • Low minimum deposit

Cons

    • Not available in all 50 states in the US
    • Relatively low number of cryptocurrencies available

PrimXBT is an online cryptocurrency trading platform. It was created to be a secure and reliable way for people to trade cryptocurrencies and make profits.

PrimXBT is a crypto trading platform that provides an easy-to-use interface for traders of all experience levels. The service offers a variety of interesting features, including:

  • Market Analysis: PrimXBT offers market analysis tools that provide information about the latest trends in the cryptocurrency market and analyses of how individual cryptocurrencies are performing. These tools are updated in real-time, making it easier for traders to decide which cryptocurrencies they should trade.
  • Trade Execution: PrimXBT has been designed with traders in mind, so they can execute trades with ease and confidence. The platform offers instant execution of trades, which means users

Pros

    • Comparatively low fees
    • iOS and Android app
    • Margin trading options

Cons

    • Comparatively low fees
    • iOS and Android app
    • Margin trading options

Crypto.com is a cryptocurrency trading platform founded in 2017 by Mike Belshe, a Silicon Valley entrepreneur and bitcoin pioneer.

The company's mission is to accelerate the world's transition to cryptocurrency. In pursuit of this goal, Crypto.com is building an easy-to-use, open-source platform that allows individuals and institutions to buy, sell and spend cryptocurrencies with confidence.

Crypto.com believes in the power of blockchain technology and its vast potential for global impact on society. They are committed to making it easy for anyone to participate in the crypto ecosystem as well as developing products that make it safer and easier for people around the world to transact with cryptocurrencies like bitcoin or ether in their daily lives.

Pros

    • More cryptocurrency options available
    • Discounts available to lower fees
    • Offers many different earning options

Cons

    • High fees
    • Reports of lacking customer support

Kraken is a cryptocurrency trading platform that can trade fiat currencies and cryptocurrencies. It has one of the largest liquidities globally and offers high security.

Kraken is one of the most popular cryptocurrency exchanges in the world. It was founded in 2011, and it has grown to offer trading for more than 100 cryptocurrencies. 

Kraken is a US-based company founded by Jesse Powell, who also serves as its current CEO. The company has offices in San Francisco, Canada, Japan, and Europe, and it has more than 200 employees worldwide.

The platform offers a wide range of features and tools for beginners and advanced traders, including charting tools, advanced order types (such as stop-loss orders), margin trading, lending services (for leveraged trades), etc. Kraken also provides

The platform is also available in Japanese, Korean, Chinese, and Russian.

Pros

    • Many currencies available
    • Competitive fees
    • Great for advanced traders

Cons

    • Not available in all 50 states in the US
    • Low fees only for Kraken Pro members

Gemini is a New York-based digital asset exchange and custodian that trades in Bitcoin and Ethereum. It was founded by the Winklevoss twins, Cameron and Tyler Winklevoss, in 2013. Gemini provides an interface for trading Bitcoin (BTC) or Ether (ETH).

It also offers a platform for institutional clients such as hedge funds, family offices, market intermediaries, and traders to buy or sell large amounts of cryptocurrency.

Gemini is the first licensed ETC exchange in the United States. It is one of the best for people who want to buy or sell cryptocurrencies with fiat currencies.

Pros

    • More cryptocurrency options available than other options
    • Very US-friendly
    • Asset insurance option

Cons

    • Reports of scams
    •  High fees

Robinhood is a cryptocurrency trading platform that offers commission-free trading on major cryptocurrencies.

Robinhood was founded in 2013 and is based in Menlo Park, California. The company offers commission-free trading of stocks, ETFs, options, and cryptocurrencies on apps for iOS and Android. As of December 2018, Robinhood had 3 million users and had raised $539 million from various investors, including DST Global and Sequoia Capital.

Robinhood's cryptocurrency service has no account minimums or monthly fees for buying or selling Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), or Ripple (XRP). In addition, users can also trade US stocks with no transaction fee during the company's extended trading hours from 9:30 am to 4:00 pm EST.

Pros

    • No minimum deposit
    • Easy-to-use
    • Popular trading platform

 

Cons

    • Lacking customer support features
    • Reports of scams

Binance is one of the most popular cryptocurrency trading platforms. It's a centralized exchange that offers crypto-to-crypto and crypto-to-fiat trading.

Binance is not for everyone. Being a centralized exchange means that all the funds are stored in one place, making them vulnerable to attacks. The fees are also relatively high, as they take a 0.1% fee from each transaction and charge withdrawal fees.

Binance offers trading pairs with Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), and many more coins. They also offer a variety of trading features, including high-frequency trading, margin trading, and sophisticated order types like stop-loss orders.

Pros

    • More cryptocurrency options available than other options
    • Reputable exchange
    • iOS and Android apps

Cons

    • Not US friendly
    • Lacks crypto-to-crypto pairs

 

9) BitMart

BitMart is a cryptocurrency trading platform that was launched in 2018. It has been well-received by the crypto community, and it is the first crypto exchange in the world to offer zero transaction fees. BitMart currently offers over 500 coins and tokens for trading, adding more every day.

BitMart also offers an offline cold storage wallet that can be used to store your cryptocurrencies offline and away from hackers. This wallet can be accessed via a mobile app or their website, making it easy to trade even when you are not connected to the internet. 

The company also has a live chat feature where you can get help from customer service representatives 24 hours a day, seven days a week. It has a wide variety of coins to trade and many tools for beginners and experienced traders.

Pros

    • Easy-to-use
    • iOS and Android app
    • International availability

Cons

    • Reports of hacks
    • Lacking positive customer ratings

Coinbase is a digital currency exchange and wallet service based in San Francisco, California.

Coinbase's services are categorized into four main groups: Digital Currency Wallet, Trading Platform, Merchant Services, and Developer Platform. The company allows its users to create a digital currency wallet that can be used to store their cryptocurrencies, such as Bitcoin, Ethereum, or Litecoin.

Coinbase also provides an online platform where traders can buy and sell digital currencies in exchange for other digital currencies or traditional currencies like US dollars. It also offers merchant services that allow merchants to accept cryptocurrency payments from customers.

Lastly, it has a developer platform that includes tools and APIs that allow developers to create new applications for the Coinbase Wallet and the Coinbase Exchange.

Coinbase is one of the most popular cryptocurrency trading platforms globally, with over 10 million customers on its books.

Pros

    • More cryptocurrency options available than other options
    • Low minimum deposit required
    • Easy-to-use

Cons

    • Very high fees
    • Some reports of scams

We realize that there are many options to choose from so we would like to recommend our top 3 exchanges:

BitMart - Sign up for free here for a welcome bonus of up to $3000.

eToro - Get up to a $50 sign up bonus.

FTX US - 5% trading discount when signing up with this link.

Cryptocurrency Exchanges FAQs

Here are the most common questions regarding the best crypto trading platforms.

Is it safe to use cryptocurrency apps?

Cryptocurrency apps are not as safe as they seem. They are not too difficult to hack and can be vulnerable to malware.

To avoid these risks, it is recommended that you use an offline wallet and keep your device secure with a password and/or fingerprint lock.

Are cryptocurrency exchanges scams?

The cryptocurrency trading platforms listed above are legit. They are a great way to invest in cryptocurrency, and they offer several benefits to their users.

These platforms have been around for years, and there is no evidence that any of them have done anything illegal or shady with their clients' money.

How can beginners trade cryptocurrency?

The first thing you need to do is get a cryptocurrency wallet. This will allow you to store your coins and buy and sell them. You should research which wallet would be best for you, but one recommendation is the Exodus Wallet.

After getting your wallet set up, you need to find an exchange that trades in the currencies you want. When choosing an exchange, make sure it has low transaction fees and high-security standards. We recommend using Kraken for beginners and advanced traders alike.

How much should beginners invest in cryptocurrency?

The average amount of initial investment in cryptocurrency by beginners ranges from $50 to $1000.

A popular investing mantra is to only invest what you can afford to lose.

Where can I buy cryptocurrency?

There are many ways that you can buy cryptocurrency, but the most common way is through an exchange. You can buy cryptocurrency with fiat currencies like USD, EUR, and GBP.

We recommend starting with Kraken.

Why are the fees so high?

Cryptocurrencies are traded on exchanges, and because of that, you will have to pay a fee for every transaction.

The trading fee can be calculated as follows:

  1. The taker fee is between 0.25% and 0.5%.
  2. The maker fee is between 0.00% and 0.25%.
  3. The exchange may charge an additional deposit fee if you deposit money from your bank account or credit card into the exchange's account, which could be up to one percent of your deposit amount.

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Recent Exchanges

Crypto Multicurrency

    • bitcoin
      Bitcoin(BTC)
      $31,741.00
    • ethereum
      Ethereum(ETH)
      $1,997.13
    • tether
      Tether(USDT)
      $1.000
    • binancecoin
      BNB(BNB)
      $321.95
    • usd-coin
      USD Coin(USDC)
      $1.00
    • ripple
      XRP(XRP)
      $0.419
    • cardano
      Cardano(ADA)
      $0.571
    • binance-usd
      Binance USD(BUSD)
      $0.998
    • solana
      Solana(SOL)
      $47.21
    • polkadot
      Polkadot(DOT)
      $10.46