4 Best Global Crypto Exchanges in 2022
By:C, FionaIn the past few years, cryptocurrencies have become increasingly popular. Investors find buying and selling cryptocurrencies particularly attractive due to their relatively low fees. Cryptocurrency has no connection with any government. In the long run, it provides huge profit potential.
If you are just starting to invest in cryptocurrency, you may need some help to know about the exchange. Whether you plan to trade frequently or buy coins and hold them, this article recommends 4 best global crypto exchanges in 2022 according to the scores, average liquidity and trading volume of the exchanges.
4 Best Global Crypto Exchanges
The cryptocurrency sector is growing rapidly, and cryptocurrency traders need a reliable source to track their assets. CoinMarketCap is the most crypto asset price tracking website in the world. It provides investors with fully researched, unbiased and accurate information to make the most informed decision on cryptocurrency trading.
The following figure lists five crypto exchanges. According to the report of CoinMarketCap as of June 15, their exchange scores, average liquidity and approximate trading volume. In order to understand the ratings of crypto exchanges, you will want to know more about the meaning of each rating category. Let’s take a look at each type.
- Exchange score. The ranking and score of cryptocurrency exchange is based on its network traffic, average liquidity, trading volume . These factors are weighted and an exchange is given a score between 0.0 and 10.0.
- Average liquidity. Simply put, liquidity refers to the ability of cryptocurrency assets to be basically converted into cash as required. The average liquidity of cryptocurrency can also be determined by its bid-ask spread, which is the difference between the best prices to buy or sell an asset.
- Transaction volume. The transaction volume of a cryptocurrency refers to the number of assets or coins that are usually traded within 24 hours.
Here are more details about these crypto exchanges and why they are on this list.
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1. Coinbase
Summary: Coinbase was established in the United States in 2012 and is one of the largest crypto exchanges around. The service is available in more than 100 countries and all States in the United States except Hawaii.
Users can use their bank accounts, credit cards and debit cards to buy and sell Bitcoin. You can also use the platform to trade USD coin, which is a stablecoin built by Coinbase. The customer reported that the exchange rate was flat with other exchanges, but according to the Better Business Bureau, the customer service of Coinbase Pro needs to be improved.
Features: Coinbase’s main product is a platform for buying and selling cryptos. The transaction has a relatively good reputation and marketing strategy, as well as a user-friendly interface.
Here are some features available.
- Coinbase and Coinbase Pro wallets. Coinbase provides independent Android and IOS mobile wallets. Coinbase Pro provides more advanced features such as multiple wallets, open order tracking and real-time market reporting. Wallets store investors’ private keys on their mobile devices, and only users can access cryptocurrency funds.
- Transfer of funds. You can use the same login credentials to transfer funds between your linked Coinbase account and Coinbase Pro account for free. Each account has a separate wallet.
Accepted currencies : USD, EUR, CAD and GBP.
Number of coins available for trade: Gemini offers offers over 75 coins, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple(XRP), Bitcoin Cash (BCH), EOS (EOS) and Stellar Lumen (XLM).
Cost:
- The cost of placing an order at the market price ranges from 0.05% to 0.60%.
- A flat fee or percentage of transactions below $200, whichever is higher
- The transaction fee for most standard purchases is 1.49%, and that for credit card purchases is 3.99%.The ACH transfer deposit is free, but in addition, the user has to pay $10 per transaction.
Supported Countries：Coinbase and Coinbase Pro provide services in more than 100 countries.
Average Customer Rating : 3.9 points (Full Score: 5 points)
Advantage：
- The funds are kept in the custodial wallets of FDIC-insured.
- Support nearly 150 cryptocurrencies
- If you qualify for Coinbase Visa, you can earn cryptocurrency rewards
- Tutorial for beginners
Disadvantages:
- High complaint rate of BBB customers
- The potential high order fee is as high as 0.60%.
2. Gemini
Summary: Gemini boasts that they are the most trusted cryptocurrency native financial platform. According to the data of CoinMarketCap, Gemini was founded by Cameron and Tyler Winklevoss in 2014, ranking 9th in the cryptocurrency exchange. It is available in all 50 states of the United States and Washington, D.C.
Features: A series of powerful functions have promoted the development of Gemini.
- ActiveTrader with high-speed trading and professional options such as advanced charts, multiple order types, auctions, and block trades.
- Gemini Clearing Platform with OTC transactions
- Gemini Earn, the annual interest rate of cryptocurrency transferred from your Gemini account is as high as 8.05%.
- Gemini Credit Card pay cryptocurrency rewards for all your purchases
Accepted Currencies : USD, AUD, CAD, EUR, SGD, HKD.
Number of coins available for trade: Gemini offers offers over 75 coins, including Bitcoin (BTC), ethereum (ETH), Bitcoin cash (BCH), litecoin (LTC), zcash (ZEC) and chainlink (CHAIN).
Cost:
- The network and mobile expenses range from $0.99 to $2.99, and the order amount is less than US $199.99; If the order amount is more than $200, the charge is 1.49%.
- ActiveTrader and API fees are determined by the total transaction volume over the past 30 days, ranging from 0% to 0.40%.
- Transfer fees range from US $0 for cryptocurrency and wire transfer deposits to 3.49% for debit card transfers.
- The facilitation fee is about 0.50% of the transaction amount.
Supported Countries： Gemini provides services in 60 countries.
Average Customer Rating : 3.7 points (Full Score: 5 points)
Advantage：
- Full range of products, including cryptocurrency payment processing and incentive credit cards
- ActiveTrader professional features
- Gemini earn’s high yield APY
Disadvantages：
- The cost is complex and relatively high
- Rich functions may confuse new cryptocurrency investors
- Less cryptocurrencies than other platforms
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3. Binance. US
Summary: The word Binance is a mixture of binary and finance. Subsidiary launched by Binance, Binance Us is one of the largest cryptocurrency exchanges in the world. In full compliance with U.S. regulations, Binance Us provides all customers except Hawaii, New York, Texas and Vermont with the same cryptocurrency trading services that global traders like.
Features: Binance Us has quickly become an excellent trading platform for US residents.
- High liquidity
- Focus on innovation and user safety
- Better customer service than its predecessor Binance
In addition, AUDIO, AVAX, BNB, ATOM, LPT, SOL and GRT can be used for disk tracking.
Accepted Currencies : USD only.
Number of coins available for trade: Binance Us has an extensive list of cryptocurrencies on its platform, including Bitcoin (BTC), Ethereum (ETH), litecoin (LTC), ripple (XRP)， Bitcoin cash (BCH), Binance coin (BNB) and tether (usdt).
Cost：
- Spot transaction fee is 0.1%.
- The immediate buy / sell fee is 0.5%.
- The transaction fee depends on your transaction volume in the past 30 days and your daily balance in Binance currency.
Supported Countries：Binance. Us is only open to users in the United States, except residents of the above four states.
Average Customer Rating: 3.8 points (Full Score: 5 points)
Advantage：
- USD cost averaging / recurring purchases available
- Lower fees for active cryptocurrency investors
- The platform supports investors at all levels and provides advanced tools and introductory tutorials
Disadvantages：
- Not applicable in four states
- USD only
4. Kraken
Summary: Kraken was founded in 2011 and is headquartered in San Francisco. It claims to be one of the largest Bitcoin exchanges in terms of liquidity and euro volume. Kraken provides an advanced cryptocurrency trading platform with OTC and margin trading options.
In the past, Kraken’s unstable platform brought it a bad reputation. However, the exchange has redeemed itself and updated its services, focusing more on security and customer support. In addition, its transaction costs are also very competitive.
Features: Kraken provides a series of services for cryptocurrency traders on its platform, including：
- Spot and margin trading. For more experienced users
- OTC trading services. For large volume transactions – more than $100000. Frequent high volume traders can get special account managers to trade for them.
- Staking service. Cryptocurrency investors can get returns from cryptocurrency assets that are usually held and unused by other investors.
- Personalized support. Kraken provides the upgrade service of the platform account management project, and special Kraken representatives provide one-to-one support.
Accepted Currencies : Kraken currently accepts the following fiat currencies. USD, EUR, CAD, AUD, GBP and JPY.
The number of coins available for trading： At present, there are more than 120 kinds, including BTC, ETH, LTC, XRP, BCH, link and CRV.
Cost
Of all the major Bitcoin exchanges, Kraken has some of the lowest fees. Your fee depends on your trading volume in the past 30 days, which is generally based on market makers. If you are a market maker and add a limit order to the exchange, you will pay less than the market maker who performs the existing order.
Here are some details of the costs you may encounter.
- Spot transaction fees range from 0% to 0.26%.
- The transaction fee of stable currency ranges from 0% to 0.2%.
- The credit card purchase fee is 3.75% plus $0.25, followed by a Kraken fee of 1.5% or 0.9%.
Supported countries：Currently, Kraken can be used worldwide, but there are some exceptions, including Cuba, Iraq, North Korea and Syria, but there may be restrictions. U.S. traders, in addition to residents of New York and Washington, can participate in the kraken exchange.
Average Customer Rating: 4 points (out of 5 points)
Advantage：
- Relatively low cost
- More than 120 cryptocurrencies are available
- Support a wide range of popular currencies
Disadvantages：
- May be too complex for new traders
- Lack of tutorials on cryptocurrency
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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
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