You’ll need to use a cryptocurrency exchange if you want to buy or sell cryptocurrencies. These online services are similar to stockbrokers in that they allow you to buy and sell digital currencies such as Bitcoin, Ethereum, and Dogecoin. With minimal fees and solid security features, the best cryptocurrency exchanges make it easy to buy and sell the currencies you desire.
It’s vital to consider supported currencies, pricing, withdrawal choices, and security when choosing the best cryptocurrency exchange for your needs, which is what we did while compiling this list of the best cryptocurrency exchanges. Continue reading to find out which cryptocurrency exchange is perfect for your needs.
Everything You Need To Know About ETHEREUM
Best Cryptocurrency Exchanges of 2022
Investing in cryptocurrencies, Decentralized Finance (Defi), and other Initial Coin Offerings (ICOs) is highly speculative and dangerous, with markets that can be quite volatile. Before making any financial decisions, seek advice from a certified specialist.
1. Coinbase
Coinbase is a well-known cryptocurrency exchange that makes buying, selling, and exchanging digital currencies simple. Coinbase makes purchasing Bitcoin as simple as purchasing stock through an online stockbroker but beware of the high fees and bad customer service.
Coinbase is a cryptocurrency trading and investment platform that lets users buy, sell, and exchange over 100 different cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. Coinbase is a huge platform with over 73 million users and $255 billion in assets.
For simple buy and sell orders, beginners may likely prefer the original Coinbase platform. Coinbase Pro, which is available to all Coinbase users, provides advanced users with additional tools and order types. Cryptocurrencies are a new asset class that can be dangerous and volatile, making them inaccessible to some investors.
Coinbase, on the other hand, is a wonderful alternative for newcomers and veterans both if you’re interested in cryptocurrency. Coinbase began in 2012 as a platform for sending and receiving Bitcoin. The company now employs over 2,700 people worldwide and supports dozens of different cryptocurrencies. Coinbase is a decentralized organization with no central office.
Coinbase has over 100 million users in over 100 countries, and customers trade $327 billion per quarter. Coinbase is in charge of a thriving cryptocurrency ecosystem that includes over 9,000 financial institutions. Coinbase offers two different trading platforms as well as a cryptocurrency wallet service.
You’re likely to find all you need to create and manage a cryptocurrency portfolio or trading plan among the Coinbase products. Anyone with minimal computer abilities can trade on Coinbase because it is user-friendly and easy to use.
Coinbase can be accessed over the web or through mobile devices running Android and iOS. You’ll have a similar experience if you find ever-traded stocks using an online brokerage.
Coinbase provides two trading platforms. The normal Coinbase platform is more user-friendly, making it ideal for beginners. Customers who choose Coinbase Pro can examine real-time order books, use charting tools, and save money on fees.
Coinbase boasts an enviable array of cryptocurrencies to trade – 125 at the time of writing – which should satisfy all but the most dedicated crypto trader. You’ll find the most well-known cryptocurrencies, like Bitcoin, Ethereum, Cardano, Solana, XRP, and dozens of others that are just getting started. As a result, you’ll most likely find what you’re looking for here.
Other brokers or financial apps that promise crypto trading but only offer a few of the most popular coins are in stark contrast. For example, Robinhood only allows trading in seven cryptocurrencies – which is still more than many brokers – whereas Interactive Brokers has only recently begun trading in four.
You’re out of luck if you’re seeking something other than cryptocurrency on Coinbase. However, Robinhood, Webull, or Interactive Brokers could be good alternatives if you wish to trade stocks, options, and ETFs while only having access to the most popular crypto coins.
If you have a Coinbase account, you may access both services with the same credentials. We advocate using Coinbase Pro to make trades because it has reduced fees. You’ll save a lot of money if you buy and sell on Coinbase Pro, even if you prefer to do your research on the normal platform.
Cryptocurrency markets are open 24 hours a day, seven days a week, so you can log in and make a trade whenever you want. Purchases can be made with monies in your account or with a linked bank account or credit card. Depending on how you pay for your cryptocurrency, you may be charged additional fees. Purchases are immediately credited to your account, but you may need to wait for your deposit to clear before making it.
To keep customer deposits and assets safe, Coinbase employs industry-leading security procedures. However, when utilizing cryptocurrency, there are always certain hazards, therefore it’s critical to follow online best practices to keep your account information safe.
Notably, 98 percent of customer assets are held in cold storage in a global network of safe deposit boxes, backed up by digital and paper backups. Its website is protected by bank-level encryption and security. All accounts must also use two-factor authentication, which helps prevent anyone from accessing your account unless they have physical access to your phone.
Thousands of users have been victimized by hackers and schemes that have drained their accounts despite these strong security measures. To prevent this type of loss, it’s critical to use unique, random passwords on financial websites like Coinbase.
Someone who has access to your email or phone could gain access to your account, so keep those hidden. One of the most common complaints users have about Coinbase is the lack of customer care. Because it’s practically impossible to get in touch with a human for any type of assistance, think of Coinbase as primarily self-service.
The Coinbase help page, emailed support tickets, an automated phone system, and a chatbot are all officially supported customer service alternatives. When everything goes as planned, you’re likely to be a satisfied customer. Customer evaluations suggest bad customer service experiences and minimal help with frauds, hacked accounts, and frozen accounts when things don’t go as expected.
Coinbase, for example, has a Trustpilot rating of barely 1.6 stars based on over 6,000 reviews. Customer service, misplaced payments, and frozen accounts are the most common complaints. Customers on other review sites expressed similar dissatisfaction.
Coinbase is also beset by a problem that appears to be afflicting several of its business rivals. The Federal Trade Commission has received over 11,000 complaints, and many former users claim they were left with little to no support after losing money due to stolen accounts.
The most important distinctions, aside from the user interface, are the offered currencies and opportunities to earn from your cryptocurrency account. On a restricted number of coins, Coinbase allows users to earn up to 5%. With rates as high as 7.4%, Gemini pays interest on practically all supported currencies.
Coinbase is a leading platform for buying, selling, storing, and exchanging cryptocurrency. It’s especially useful for cryptocurrency beginners who seek a straightforward purchasing and selling experience without having to deal with the complexity of external wallets and decentralized exchanges.
Coinbase’s pricing structure and customer service are its two greatest drawbacks. Coinbase is an excellent alternative for anyone wishing to get into cryptocurrency if you can manage your account on your own and agree to the fees.
2. Gemini
Gemini is a privately held cryptocurrency exchange that lets users buy, sell, trade, and store bitcoin, ether, and roughly 40 other cryptocurrencies. Cameron and Tyler Winklevoss founded it in 2015. For casual investors and dedicated traders, Gemini offers a tiered service with various interfaces and pricing structures.
It has its currency, the Gemini dollar, as well as a mobile app and a payment app. The Gemini dollar, unlike most cryptocurrencies, is a “stable coin” tied to the US dollar. Gemini is a direct rival to Coinbase and Kraken, two popular cryptocurrency exchanges.
Gemini, as any astrologer knows, is the sign of twins and duality. The Gemini name is a tribute to the Gemini space program, in addition to the obvious allusion to the Winklevoss twins. (Gemini Space Station is the holding corporation that controls the Gemini platform and the brothers’ other assets.)
The platform is designed to be a hybrid of new-age cryptocurrencies and traditional currencies. Gemini is a cryptocurrency exchange that trades US dollars and bitcoins. Users of the Gemini exchange, like those of any other currency exchange, can trade currency pairs in around 20 different combinations.
The most common currencies are the US dollar (USD), bitcoin (BTC), and ether (ETH) (ETH). As an example, the currency combination ZEC/USD represents a zcash exchange for US dollars. Gemini provides its retail and institutional customers with a platform to buy, sell, and store digital currencies in a regulated and safe environment, based on the basic concepts of security, liquidity, and trust.
The Gemini exchange is open 24 hours a day, seven days a week, except for maintenance windows. A regular market order on Gemini is filled instantly at the best available market price at the time, just like any other online broker. Limit orders are also available from Gemini. There are three types of limit orders: instant or cancel (IOC), maker or cancel (MOC), and auction-only (AO).
Because Gemini does not offer margin trading like competitors like Kraken, all orders must be fully financed before being delivered. It also prohibits short-term trading. To trade on the platform, customers must link a bank account and initiate a wire transfer or an ACH deposit from a bank.
Customers can send money from their cryptocurrency wallets to their Gemini accounts and vice versa. To deposit crypto coins into a Gemini account, the customer must first initiate an exclusive deposit address on the Gemini platform, followed by a transfer from the wallet to the deposit address.
Gemini provides custodian services to its clients in addition to being a regular virtual currency exchange. The New York State Department of Financial Services (NYDFS) has granted it permission to retain a customer’s digital assets in trust on their behalf. Your digital currency assets, in other words, are subject to reserve requirements and banking compliance rules. Gemini is also responsible for upholding and implementing appropriate cybersecurity measures.
Gemini maintains a banking arrangement with State Street, a New York State-chartered bank, where all customer monies are held. The platform’s commitment to traditional banking rules ensures that all money is backed by sufficient monetary reserves.
Individual customers are offered the usual zero-fee depository account type, but large institutional customers can choose a segregated custody account type with an offline, secure, and auditable storage system called the company’s Cold Storage system. Institutional customers, such as mutual funds, exchange-traded funds (ETFs), and hedge funds, are eligible to use the service.
Gemini’s Gemini Exchange, mobile app, and Active Trader offerings all have their fee structures. Fees are 0.250 percent for bidders, 0.100 percent for sellers, and 0.150 percent for auction participants for accounts under $1 million. Certain extremely high-value transactions are exempt from fees. The Gemini Pay app is free to use and allows users to pay for things using their cryptocurrency.
Transactions can be made in Gemini dollars, the service’s Gemini stable coin, which has the advantage of being less price volatile because it is tied to the US dollar. Users of the Pay app can also pay payments in bitcoin, ether, litecoin, zcash, or bitcoin cash. The Winklevoss twins appear to be resolved to be the white-hat traders in the cryptocurrency trading Wild West.
Gemini has worked to set itself apart from its competitors by emphasizing that it is licensed and regulated by the New York State Department of Financial Services, which is in charge of monitoring the state’s banking, financial services, and insurance industries.
It has even gotten insurance for the cryptocurrency assets of its customers. Cameron and Tyler Winklevoss are the principal shareholders in Gemini.
The Winklevoss twins are best known for agreeing to a $65 million settlement in a lawsuit against Mark Zuckerberg, claiming that Facebook was their idea and that Zuckerberg stole it, as depicted in the film “The Social Network.” All three were Harvard University students at the time.
According to The New York Times, the twins utilized some of that fortune to buy bitcoin and, later, ether in their early days. By 2017, they had become billionaires. Gemini was created with a portion of that prize. They now see Facebook as if it were the Old World. Tyler Winklevoss told Forbes, “The idea of a centralized social network is just not going to exist five or 10 years from now.”
“Between the old world and this new crypto-native cosmos, there’s a membrane or a chasm.” The exchange, which was launched in January 2015, was operational for customers in the United States in October of that year. By mid-2016, the exchange has expanded to other countries, starting with Canada and the United Kingdom.
To cater to the rapidly growing population of Asian cryptocurrency aficionados, Gemini quickly expanded to Hong Kong, Singapore, South Korea, and Japan. It is available in over 60 countries as of December 2021.
Gemini launched the first-ever daily bitcoin auction in September 2016, a strategy used by all modern stock exchanges but a first for a cryptocurrency exchange. In July 2017, daily ether auctions were launched.
As of January 2022, below is the complete list of cryptocurrency items that may be bought, sold, and/or stored on Gemini. (On the platform, names in parentheses can be stored but not bought or sold.) You’re not alone if you don’t recognize some of these names:
Aave, Alchemix, (Alchemy Pay), Amp, Ankr, API3, Balancer, Bancor, BarnBridge, Basic Attention Token, Bitcoin, Bitcoin Cash, (Bread), Burn, (Caspian), Chainlink, Compound, Cryptex, Curve, Dai, Decentraland, (DerivaDAO), Dogecoin, Enjin Coin, Ether, Fantom, Fetch.ai, Filecoin, Gemini Carbon Credit Moss, Numeraire, (Ocean), (OMG Network), 1inch, Orchid, Ox, PAX Gold, Polygon, Quant, Radicle, Ren, SKALE, Shiba Inu, Smooth Love Potion, Somnium Space, Storj, SuperRare, SushiSwap, Synthetix, (tBTC), Terra, Terra USD, The Sandbox, The Graph, (Total Crypto Market Cap), Uma, USD Coin, Uniswap
The cryptocurrency platform market is now dominated by Gemini and its main competitor, Coinbase. Cameron and Tyler Winklevoss founded their cryptocurrency exchange with the platform of bringing safety and security to the market.
“Cryptocurrency without anarchy,” according to an early promotional campaign. Gemini is a New York-licensed trust corporation that boldly touts itself as a “regulated” exchange. Online wallets’ contents are covered by insurance.
What is Dogecoin ? Beginners guide to DOGE cryptocurrency
3. Binance
Binance is a well-known cryptocurrency exchange that caters to seasoned cryptocurrency investors. It has low trading fees and a large range of cryptocurrencies for trade all over the world, albeit its trading options in the United States are somewhat limited.
While the platform’s minimal fees are tempting, it has run regulatory difficulties and is currently under investigation in the United States. Binance is the world’s largest cryptocurrency trading platform. It is not particularly user-friendly because it offers a large number of trading options and features. Binance is anticipated to have a high learning curve for investors of all ability levels.
Binance offers a comprehensive range of trading features via its desktop or mobile dashboards, including an excellent variety of market charts and hundreds of cryptocurrencies. Users can also choose from several trading options, such as futures and options, as well as several other order types.
Binance also offers a complete learning platform, an NFT platform, and other services in addition to its tools and features. Binance is a decentralized cryptocurrency exchange based in China that was founded in 2017 by software developer Changpeng Zhao. 4
While Binance is currently the world’s largest cryptocurrency exchange by trading volume, it is also dealing with regulatory concerns in several countries. It is currently being investigated by US authorities on charges of money laundering and tax investigation. In addition, the platform has been prohibited in several countries. Binance offers access to hundreds of cryptocurrencies to users all around the world.
It’s worth noting, though, that the worldwide Binance platform differs from its US version, Binance.us, which only supports about 60 cryptocurrencies. Binance’s variety may appeal to experienced traders, while newcomers may be confused by the platform’s numerous features. Furthermore, the company’s continuous inquiries and growing list of regulatory difficulties are alarming.
On Binance’s platform, you may trade over 365 different cryptocurrencies. It also supports a variety of fiat currencies, including the US dollar, euro, Australian dollar, British pound, Hong Kong dollar, and Indian rupee. Binance may offer anything from 50 to 591 cryptocurrency pairs, depending on your region.
Binance Coin (BNB), VeChain (VET), Harmony (ONE), VeThor Token (VTHO), Dogecoin (DOGE), and Matic Network are among the cryptocurrencies accessible on the exchange (MATIC).
Binance offers a wide variety of trading tools, including real-time charting with moving averages and exponential moving averages. Users can use the Binance app, the Binance website, or the Binance desktop app to make trades.
Traders can also utilize the Binance platform to view the order book and price charts, as well as access their portfolios and trade history. Binance also offers several order types, including stop orders, limit orders, stop-limit orders, stop market orders, and trailing stop orders.
You can also select from a variety of trading perspectives, including classic, margin, and OTC. Binance has some of the lowest fees in the industry. Users in the United States will pay slightly more on Binance.us, although the fees are still lower than those on other major platforms. Binance has a maker/taker fee system, with fees varying depending on trading volume and BNB balance. In general, lower fees apply to bigger volume trades.
Two-factor authentication (2FA) using the Google Authenticator app or short messaging service (SMS), address whitelisting, device management, and the option to restrict device access are among Binance’s security features. FDIC protection is also available on U.S. dollar amounts maintained in custodial bank accounts on the Binance.us platform.
While these features can help users keep their accounts secure, Binance’s reputation is still a source of concern. In addition, the platform has fewer security features than some of the most popular cryptocurrency exchanges. Over 2,000 Trustpilot reviews give Binance a score of barely 2 out of 5 stars.
Poor customer service and difficulties withdrawing funds are among the most common complaints. Despite the challenges that some users confront, some response is positive. Many Binance users have said that the platform has been a positive and relatively painless experience.
Users can use a desktop browser or a downloaded desktop program to access their Binance dashboard. It also has iOS and Android apps available for download from the Apple and Google Play stores.
You can view charts, marketing trends, your portfolio, and your current and previous trades on Binance’s dashboard. To manage your payment methods, go to your account page and add any credit/debit cards or bank accounts you want to use.
Making deposits and withdrawals is as simple as going to the “Spot Wallet,” picking the asset you’d like to purchase or sell, and following the on-screen instructions. Overall, Binance offers worldwide traders a diverse choice of supported assets and trading options, as well as some of the industry’s lowest rates.
While the platform has significant advantages, its compliance difficulties are a source of concern. If Binance isn’t for you, you might want to look at Coinbase Pro, which is one of Binance’s main competitors.
Binance and Coinbase Pro both provide a sophisticated trading environment. While Binance has lower fees and more global trading options, the Binance.US platform has fewer features, which may make Coinbase Pro a better option for US investors. Global citizens, on the other hand, may believe the opposite is true.
Furthermore, while Binance’s fees are lower, they have compliance difficulties in other countries and are under investigation in the United States. Coinbase has also had recent concerns with US regulators, albeit these are more concerning their Lend program than the broader platform. Coinbase is generally thought to be a more stable and secure platform than Binance.
Even though Binance is the world’s largest cryptocurrency exchange, continuing investigations and a long list of countries that have banned or limited its services are cause for concern. Its platform could be too difficult for rookie cryptocurrency investors to understand.
Binance, on the other hand, may contain the features you’re seeking if you’re a seasoned global trader keen to try out new tokens and trade options. Binance.US may find some opportunities to active traders in the United States, however, it offers fewer cryptocurrencies than the global platform. Before you start trading with Binance, make sure you do your homework and compare platforms.
4. Kraken
Kraken is a cryptocurrency exchange that allows users to buy and sell Bitcoin and Ethereum. Kraken is one of the first Bitcoin exchanges, and it supports over 50 different coins for buying, selling, and trading with low fees. It’s notable for supporting both spot trading and cryptocurrency futures at current market rates.
Kraken is a wonderful option for novice and experienced cryptocurrency investors and traders who want minimal trading fees and access to a large number of coins. Kraken is an easy cryptocurrency exchange that allows users to buy, sell, and exchange a variety of cryptocurrencies, including market leaders Bitcoin and Ethereum.
Kraken offers users margin accounts and futures trading, riskier products beneficial for particular trading techniques, in addition to buying and selling bitcoin at market rates.
The main Kraken platform is the easiest spot for novice crypto investors to get started in the Kraken ecosystem. Even outside of cryptocurrency, more experienced traders may favor the lower-cost active trading platform Kraken Pro. Kraken is a cryptocurrency exchange based in San Francisco that has offices all around the world.
Customers in 185 countries, including the United States, are supported. Kraken supports competitively priced cryptocurrency trading to both individual and institutional investors.
Beginners should use the regular Kraken platform, while skilled and expert crypto traders should use Kraken Pro and its extensive margin and futures features. Beginners should also go to the earn tab, where they can deposit their cryptocurrency balance and earn interest.
Kraken is likely to be able to meet your cryptocurrency needs because it combines platforms and services. Tether, USD Coin, and Dai are just a few of the stable coins Kraken supports. If you choose, you can also convert US dollars to Canadian dollars, Japanese yen, and Swiss francs. Please note in mind that not all currencies are accepted in all countries.
The primary Kraken platform is the greatest place to start for newcomers. You can instantly buy cryptocurrency from a linked bank account with a verified account, and it’s just as easy to sell or convert between currencies in your account. Kraken Pro is a real-time trading platform that you may use on your computer or smartphone. While the UI may be intimidating to newcomers to crypto and trading, it may be worthwhile to understand.
It has more detailed asset information, such as live charts and a view of open orders. Kraken Pro is available to everyone who has an active Kraken account. Lower fees may be more significant than the complex interface. When you use Kraken Pro instead of Kraken to make the identical trade, you’ll pay less than if you use the main interface.
Depending on the platform you’re using and the trade you’re making, the pricing and fees will differ. Prices are subject to spread fees in both cases. Here’s a rundown of the most significant fees to keep in mind. The cost for most cryptocurrencies is 1.5 percent for quick purchases and 0.9 percent for stablecoins using US dollars or another stablecoin. Additional fees are determined by how you pay for the purchase.
The cost of funding a bank account ranges from 0.5 percent to over 3.75 percent when using a debit card, credit card, or digital wallet. Kraken Pro is significantly less expensive than the regular Kraken platform. The pricing is determined by your overall trading volume over the previous 30 days. A 0.26 percent taker charge or a 0.16 percent maker fee applies to the majority of trades.
Maker orders are trades that aren’t immediately matched against existing orders, and they help to increase liquidity on the platform. Orders that match an outstanding order from another market user and demand a little higher fee are charged taker fees. If you follow proper internet security practices, your Kraken account should be protected from fraudsters looking to drain your funds.
It’s a good idea to add two-factor authentication to an account once it’s been funded. For sign-in, account withdrawals, and trades, you can establish separate two-factor codes. If you’re concerned that your account has been hacked, you can also lock it from making any modifications.
While the majority of users have had a positive experience, some users have reported hacked accounts in which the owner has lost all of their funds and has no way of recovering them.
Crypto accounts are a prominent target for fraud since cryptocurrency blockchain transactions cannot be reversed. When utilizing Kraken or any other exchange, be aware of these dangers. The procedure of creating a new Kraken account is easy and quick.
The signing started with Kraken is similar to signing started with a stock brokerage or another cryptocurrency exchange. It can take less than five minutes to set up your account if you have all of your information available.
You must enter contact information such as your name, address, phone number, and Social Security number when signing. This information is part of the financial industry’s “know your customer” (KYC) regulations. You’ll need to give more information, such as a copy of a government photo ID and a photo of yourself holding that ID, to validate your account and gain access to all trading features.
You’ll have limited account functioning unless you add this information. Kraken provides live chat and email support. We experienced a slight issue updating an account option and sent a support ticket (mainly due to a human mistake). In around 20 minutes, Kraken personnel reacted and rectified the issue.
While we had a positive customer service experience, no other users have had the same experience. Some dissatisfied users have reported problems with funds as a result of hacking, as well as difficulty getting Kraken to release payments that have been held.
On Trustpilot, Kraken receives only two out of five stars, indicating that many users have had major issues. Long waits for customer service responses and keeping funds after the initial security period were the most common concerns. These customer service concerns are troubling, but when picking a cryptocurrency exchange, it’s crucial to consider both positive and bad evaluations.
The Kraken website and mobile applications are primarily used for self-service account management. If you have a laptop or desktop computer, you may find that managing your account is easier due to the larger screen. You may edit your settings, manage your approval level, add 2FA, manage API keys, and lock down your account from the Kraken dashboard.
Kraken’s pricing and features make it a suitable choice for cryptocurrency traders and investors seeking a new exchange, from beginners to experts. Its inexpensive Kraken Pro fees, excellent staking rates, and futures markets are all a draw. However, some users have reported major account security difficulties, and the platform is not as user-friendly as competitors.
Kraken is a wonderful option for cryptocurrency trading and investment in general. Make sure you’re aware of all the expenses and hazards and take precautions to secure your account with two-factor authentication. If you do, buying and selling cryptocurrency on Kraken should be a positive experience.
Basics of Cryptocurrency and Blockchain
5. KuCoin
KuCoin has evolved into a leading cryptocurrency exchange that now serves one out of every four cryptocurrency holders on the planet. Its crypto services include a fiat onramp, futures and margin trading exchange, passive income services like staking and lending, peer-to-peer (P2P) marketplace, IEO launchpad for crypto crowdfunding, non-custodial trading, and much more.
Even though the exchange was launched in mid-2017, its founders have been experimenting with blockchain technology since 2011. Although the platform’s technological design was developed in 2013, it took years of refinement to make KuCoin the seamless experience it is now.
KuCoin development funds were acquired through an initial coin offering (ICO), which ran from August 13 to September 1, 2017. KuCoin introduced its native KuCoin Shares (KCS) tokens during that time, which are utilized to get special deals, trading discounts, and a portion of exchange earnings. KuCoin raised roughly USD 20,000,000 in BTC (at the time) for 100,000,000 KCS, making the crowd sale a success. A single KCS cost 0.000055 BTC during the ICO.
The company’s headquarters are now located in Seychelles. Over 300 people are believed to work for the company around the world. The KuCoin platform had significant upgrades in 2019. The exchange changed its interface to Platform 2.0 in February, giving the platform its current look. More improvements, such as enhanced order kinds, a new API, and other functionalities, were incorporated in the upgrade.
KuCoin also launched KuMEX in June, which has since been renamed KuCoin Futures. Later that year, the exchange launched margin trading with up to ten times leverage. In 2020, KuCoin’s ecosystem will continue to expand. The debut of its Pool-X Liquidity Trading Market, as well as a one-stop exchange solution KuCloud, were among the more significant announcements.
The exchange also debuted its rapid exchange service in February. Furthermore, KuCoin has significantly increased the number of fiat currencies available for crypto purchases via its â€Buy Crypto with a Bank Card†option. KuCoin announced on June 24, 2020, that its peer-to-peer cryptocurrency marketplace now accepts PayPal as well as more easy fiat payment methods.
Among altcoin exchanges, KuCoin has some of the lowest fees. Its cost structure is basic and simple to comprehend. The first is the KuCoin spot trading costs. Every transaction is subject to a 0.1 percent charge. Your 30-day trading volume or KuCoin Shares (KCS) holdings, which entitle you to the additional trading charge discount, tend to lower your costs.
KuCoin Futures provides a variable fee structure for future funding. Because they compensate for relative financing rates, the USD/USDT loan rate might be positive or negative.
The loan rate differential between the base currency and quote currency of the perpetual futures funding rate will move from 0.030 percent to 0 percent as a result of this adjustment, implying that the funding cost for KuCoin perpetual futures will be 0 during typical periods. Every eight hours, at 04:00, 12:00, and 20:00 UTC, KuCoin Futures is funded.
Finally, you might want to use KuCoin to buy cryptocurrencies with fiat money. Direct bank card purchase via Simplex, Banxa, or PayMIR connections, P2P desk, and rapid buy feature are all options available on the exchange. The fees for those transactions may vary depending on the payment method used, but they should never surpass 5% to 7% on any given day.
Simplex, for example, is claimed to charge 3.5 percent each purchase, whilst Baxa is said to charge 4 to 6% on top of the whole transaction value. When buying or selling on a P2P marketplace, the fees are entirely dependent on the payment method and processor rates, so bear that in mind when accepting or posting an ad.
In terms of trading fees, KuCoin is one of the most affordable exchanges. Binance is KuCoin’s most obvious opponent, as both exchanges employ similar competitive techniques. They both have similar low costs, while KuCoin Shares (KCS) has a few more benefits. Even for newbies, KuCoin is simple and easy to use.
It has a clean, modern design that continues across all pages and is supported by a robust API interface. The trading platform employs a sophisticated core trading engine capable of processing millions of transactions per second (TPS).
Spot trading is the most crucial element of any exchange. KuCoin offers you to trade over 200 tokens and cryptocurrencies with cheap costs – as a taker or maker, each deal will cost you 0.1 percent. You must enter a trading password to access the trading window, which you can set up as an extra security step.
The exchange has a simple and basic layout, even though it appears sophisticated at first. In mid-2019, KuCoin launched its Futures (formerly known as KuMEX) platform. Users can trade margined Bitcoin (BTC) and Tether (USDT) contracts with up to 100x leverage. It means that with just $100 in your account, you can trade up to $10,000 worth of contracts.
KuCoin Futures is available in two versions: one for novices (low version) and another for more experienced traders (pro version).
6. Bitfinex
Bitfinex is a famous cryptocurrency exchange in the world, known for its low fees. It’s also linked to the Tether stable coin, which has caused the exchange to run into regulatory issues. The minimal costs on Bittfinex are positive, but its shaky history may be a concern for future customers.
Bitfinex is a large cryptocurrency exchange that offers a diverse range of cryptocurrency goods and trading options, including spot trading, margin accounts, derivatives, and paper trading. Bitfinex certainly offers all you need to handle your cryptocurrencies in one location, with a blend of tools ideal for both beginning and advanced crypto users.
Before you begin, you should be aware that Bitfinex has a history of regulatory issues, including repeated fines from the Commodity Futures Trading Commission. The most serious complaint leveled by the New York Attorney General’s Office is that of deceiving investors. When Bittfinex said the Tether stable coin was fully backed by reserves, it wasn’t true. Investors may be concerned about the exchange’s past and reports of ongoing misbehavior.
Bitfinex, which was formed in 2012, is one of the more established bitcoin exchanges. Since its inception, the exchange has remained a market leader in cryptocurrency trading, now ranking eighth among the world’s major cryptocurrency exchanges by volume, according to CoinMarketCap.
Bitfinex has a modest trading fee structure, with most meals costing less than 0.20 percent. On the surface, this exchange appears to be ideal for a wide spectrum of consumers, but it has a dubious history that includes many penalties and claims of bitcoin market manipulation.
Bitfinex and Tether misled clients and the markets, according to the New York Attorney General, by overstating Tether’s reserves and concealing losses. Bitfinex has also been fined in the past for running an unregistered exchange and enabling illegal off-exchange trades.
This raises severe concerns about the cryptocurrency exchange’s trustworthiness. Bitfinex’s active trading platform offers 150 cryptocurrencies, including Bitcoin, Ethereum, Terra, Tether, Solana, Litecoin, Ripple, and many others. There are far too many to mention, but Bitfinex performs a good job of supporting high-demand currencies on its platform in general.
Bitfinex has a close association with the Tether stablecoin, which is always worth $1, as previously mentioned. However, you may want to reconsider retaining too much Tether in your account, assuming you’re willing to hold it at all, given historical difficulties with reserve dishonesty. Tether continues to assert that the currency is completely backed, but you must determine whether or not you believe them.
Bitfinex offers a user-friendly trading experience, and experienced traders will appreciate the features and options available. To test your approach before investing real money, you can start with a free paper trading account, which allows you access to the Bitfinex platform with play money, akin to a stock market game.
Standard features of Bitfinex’s active trading platform include comprehensive charting tools, an order depth chart, and order book view, as well as rapid access to purchase and sell supported currencies. If you’re new to active trading, the mobile app may be a better place to start. There are, however, plenty of tools for experts, including support for comprehensive, advanced requests.
Automated algorithmic trading, a sophisticated API for developers, historical pricing data via Bitfinex Terminal, margin trading, and derivatives trading are some of the other possibilities and features. Another notable element of Bitfinex is its trading costs. The majority of trades either a 0.10 percent maker fee or a 0.20 percent taker fee. This rate applies to all crypto, stablecoin, and fiat transactions.
Fees can be avoided if you have the LEO currency in your account. You’ll save 15% on taker costs for crypto-to-crypto and crypto-to-stable coin trades if you have the equivalent of $1 in LEO in your account. You’ll save 25% on taker costs for crypto and stable coin trades and 10% on fiat trades if you have at least $5,000 in LEO.
And, depending on your amount, you can get a bigger percentage discount if you have $10,000 or more in LEO. Traders with moreover $500,000 in monthly activity may also be eligible for lower fees.
To keep user accounts and funds safe, Bitfinex employs several industry-standard security measures. Two-factor authentication, powerful APIs for linking third-party services, withdrawal protection mechanisms, and cold storage of customer assets are just a few of the features available.
Bitfinex, on the other hand, hasn’t always done a fantastic job with security. In addition to the regulatory issues mentioned above, the company has been hacked several times, resulting in the loss of consumer dollars and trust.
Your Bitfinex account, like most cryptocurrency exchanges, is mostly self-service. Searching the exchange’s FAQ and help areas for answers is the best approach to receive assistance. For email assistance, Bitfinex uses a support ticket system. There is no phone or live chat support, so you won’t get help right away if you have an issue.
Customers have varied feelings about Bitfinex, which has a 3.6-star rating on Trustpilot. The platform and automated trading methodology have received positive feedback.
Customer support responses are slow, and withdrawals are delayed, according to complaints. Although Bitfinex has better reviews than some of its competitors, most bitcoin companies do not do well on customer review platforms.
The Bitfinex website and mobile app allow users to manage their accounts. Almost all client account settings, comparable to online banking, are self-managed. If you’ve worked with online bank accounts before, Bitfinex’s account screens and menus are simple to access and understand. Bitfinex should be intuitive and simple to use for those who have used active stock market trading platforms or FX trading apps.
Users have conflicting feelings about Bitfinex, and its history of regulatory difficulties is worrying. You can’t use it if you’re in the United States, so you’re better off looking at our list of the best bitcoin exchanges. If you’re based outside of the United States, you’ll have to weigh the benefits of a good platform and low costs against a shaky track record, which includes client trust breaches.
Because of past hacks, penalties, and violations, you may want to avoid Bitfinex if you’re concerned about potential risks. However, if you’re ready to take a slight risk on the platform, Bitfinex could provide a positive overall experience.
Comprehensive Guide of Cryptocurrency Investing Based on Fundamental Analysis
7. Crypto.com
Crypto.com is a cryptocurrency exchange that supports services like trading, investment, staking, wallets, and non-fungible tokens (NFTs). This exchange supports over 150 different currencies, has moderate fees and offers discounts to individuals who have a large position in Crypto.com Coin (CRO). Its ecosystem of crypto-related items may make it a suitable pick for people trying to get a lot of mileage out of their cryptocurrency.
Crypto.com is a well-known cryptocurrency exchange that accepts a variety of crypto assets as well as blockchain-related items. Users can buy, sell, and exchange a wide list of currencies while paying cheap trading fees.
The startup also offers cryptocurrency credit cards, a decentralized exchange, a standalone crypto wallet, and an NFT marketplace. Users can also earn up to 14.5 percent interest by staking their crypto or keeping it in a Crypto.com wallet for a certain amount of time.
Crypto.com could be a suitable option for anyone wishing to buy and hold digital currencies like Bitcoin and Ethereum. Fees are capped at 0.40 percent and reduced with increased trading volume or CRO currency holdings. Crypto.com presently supports 150 currencies and offers complex order types, as well as the platform to trade crypto futures.
Keep in mind that the cryptocurrency market is volatile, and these investments are high-risk, so only invest money you can afford to lose. Crypto.com was founded in Hong Kong in 2016. It presently has over 10 million customers and offers over 150 coins. Crypto.com provides a unique range of cryptocurrency-related financial solutions to users in 90 countries.
Crypto.com is excellent for novice to advanced cryptocurrency users due to its extensive currency list, reasonable cost, and additional services. Beginners, on the other hand, maybe intimidated by the abundance of options.
Overall, Crypto.com is perfect for folks who want to do more than just buy and hold their cryptocurrency. It’s an excellent platform for aggressive traders and anyone who wants to use crypto as a currency rather than just a store of value. For spot trading, Crypto.com supports over 150 currencies, with a selection of those supported for staking.
While there are far too many currencies to list here, you may expect to be able to buy and sell the majority of the most widely traded currencies. Crypto.com’s mobile app, which is available for Android and iOS smartphones, serves as its key center. If you’re used to trading stocks through a smartphone app, you’ll find the experience to be simple and intuitive.
You can instantly check your portfolio and a list of popular assets using the Crypto.com app. The Crypto.com mobile app has everything you need to trade currencies, earn by staking your cryptocurrency, make cryptocurrency payments, and sign up for a Crypto.com credit card.
Its charting features are basic and don’t provide a lot of information. Each currency’s page, on the other hand, contains a quick explanation and links to more thorough information so you can learn how the blockchain and currency work before you buy.
The Australian dollar (AUD), Canadian dollar (CAD), euro (EUR), pound sterling (GBP), US dollar (USD), and Brazilian real (BRL) are among the fiat currencies supported by Crypto.com (BRL). This flexibility enables users in a variety of nations to buy crypto with their native money.
On trades with a total monthly trading volume of less than $25,000, new Crypto.com users without any CRO staking will be charged 0.4 percent. Trading fees are lower than those charged by several significant industry competitors, but they aren’t the cheapest.
Without CRO staking, higher-volume traders can qualify for fees as low as 0.04 percent as a maker or 0.1 percent as a taker. When you have at least 5,000 CRO in your wallet—at the time of writing, 5,000 CRO was worth roughly $1,280—you can get discounted trading fees. Traders with up to $25,000 in monthly volume pay 0.36 percent at that point. With a higher stake, rates fall. Crypto.com’s pricing is competitive since there are no additional per-trade fees.
To keep user accounts safe, Crypto.com employs a variety of security procedures, including two-factor authentication (2FA) and whitelisting. To assist safeguard your account, it’s also crucial to utilize a strong password and personal online security practices. Because cryptocurrency transactions are irreversible, it’s doubtful that any lost crypto will be recovered if your account is hacked.
Crypto.com uses rigorous compliance monitoring and maintains customer deposits offline in cold storage in addition to its security procedures to assist avoid hackers and losses. It also collaborates with local banks in the United States to provide FDIC insurance on U.S. currency holdings of up to $250,000.
To create a Crypto.com account, go to the Google Play Store or the Apple Store and download the Crypto.com app. To begin, open your email address and create a password in the app. Your name, a photo of your photo ID, and a selfie are used to verify new Crypto.com accounts. Following that, you must link a payment mechanism, such as a bank account.
If you’re linking a bank account in the United States, you’ll be asked to provide Know Your Customer (KYC) information, such as your name, contact information, and Social Security number, to verify your identification. Users that have been fully verified can deposit and withdraw funds up to the daily and monthly limits set by Crypto.com. The process of creating a new account, including KYC verification, usually takes less than ten minutes.
You can probably finish it in five minutes or less if you’re a fast typer and have your ID on hand. Customer service at Crypto.com is offered by email, live chat, and a helpful website. Customers of Crypto.com do not have access to phone support.
While email and chat are available for customer care, numerous users have complained about delayed responses and a lack of assistance in addressing account issues. Because customer support isn’t always helpful, it’s a good idea to think of Crypto.com as a self-service website. It’s probably better for individuals who are familiar with online financial products and won’t require much help.
In the mobile app, users may simply view their Crypto.com accounts and assets. Depending on your preferences, you can view your assets as a list or a pie chart. You may also use the app to manage your bank accounts, review transfers, conduct crypto trades, and check the balance on your Crypto.com credit card.
In the United States, both Crypto.com and Coinbase are popular exchanges. Crypto.com has a larger selection of tradable assets and lower trading fees than Coinbase. Its platform, on the other hand, isn’t as user-friendly as Coinbase’s, and the trading experience isn’t as beginner-friendly.
However, depending on your requirements, Crypto.com may be a better option. Both Crypto.com and Coinbase may be suitable for a variety of trading and investing objectives. You may opt to open an account with both, depending on your needs and trading experience.
Crypto.com is a fantastic option for cryptocurrency traders searching for a platform with minimal fees and a large list of currencies supported. It’s perfect for folks who are comfortable managing a financial account through a mobile app and who have some cryptocurrency understanding and experience.
Crypto.com’s customer service, like that of other cryptocurrency exchanges, isn’t particularly excellent, so expect a mostly self-service experience. Crypto.com could be a good fit for your needs if you’re fine with that.
8. Coinone
Coinone Exchange is a South Korean-owned cryptocurrency exchange registered in Seoul as Coinone Inc., to create a highly transparent blockchain ecosystem, which cryptocurrencies sorely require to survive.
According to coinmarketcap, the Coinone exchange includes over fifty verified and unverified markets that trade mostly against the KRW (the Korean Republic won) and BTC (Bitcoin), with a total market cap of 7,070 BTC and 53,055,569 USD. It boasts an average 24-hour trading volume of 2,060.019 BTC, with over 20 billion won in monthly earnings and over 600,000 registered users.
Coinone was founded in February 2014 by Myunghun Kevin Cha, one of South Korea’s most well-known and internationally recognized white hackers. The aim of Coinone exchange, according to its founders and management, is to lead the new world of finance through blockchain technology by acting as a medium through which blockchain is brought to the world.
Coinone Exchange is one of the most well-known cryptocurrency exchanges in South Korea, and it is currently the third-largest cryptocurrency exchange in the country. It offers services to clients in a variety of categories, including Bitcoin, cryptocurrency, FinTech, payments, financial services, customer service, and the internet. Its blockchain and cryptocurrency services include acting as a clearinghouse for international transfers and, more importantly, as a cryptocurrency exchange.
Coinone is a cryptocurrency exchange and wallet designed specifically for blockchain and cryptocurrency adopters, traders, and users in the South Korean region. It is not intended for usage by international users.
Coinone Indonesia, on the other hand, was established as part of Coinone’s mission to introduce blockchain to the world, to enable the company to expand its operations beyond Asia’s borders. Although its Malta-based exchange was shut down on September 18, 2018, its South Korean and Indonesia-based exchanges remained operational.
Coinone is a cryptocurrency trading platform based in South Korea, where supported digital assets are traded against the KRW first, then the BTC. Its primary concentration is on the South Korean crypto business, however, there are no limits on overseas users/traders using it.
It trades roughly fifty different currencies, albeit not all of them have a large number of currency pairs, as a result of its severe listing standards, which are part of its efforts to prevent scam projects from being listed and, as a result, protect its clients’ assets.
In addition to its stringent listing standards, Coinone has its own Listing Evaluation Committee, which is chaired by the CEO and pledges to thoroughly audit all listings before they are listed on the exchange, using four different categories.
Bitcoin, Ethereum, Ripples, Bitcoin Cash ABC, EOS, BSV, Vanta, Luna, Litecoin, Cosmos, TRON, Qtum, and other coins are supported and traded on Coinone. The Coinone wallet provides clients with wallet facilities and services that allow them to deposit, store, and trade their preferred coins listed on the exchange.
Coinone’s user interface and user experience (UI/UX) are excellent, allowing clients to trade quickly and safely. It also includes the Prochart tool, which traders use to do in-depth currency research throughout their trading sessions.
Coinone has been a pioneering company in South Korea’s fast-growing blockchain and crypto industry, being the first crypto exchange to list both Ethereum and IOTA, as well as the first crypto exchange to establish the Research Center, which publishes uncensored and in-depth analysis and reports on cryptocurrency to help provide transparency and stability in the market.
Coinone, as an exchange, also has very robust and active customer care and response service that aids its registered users with technical difficulties and other concerns. Coinone charges a flat 0.10 percent trading cost for both makers and takers in each trade transaction, which is much less than the 0.25 percent industry average.
It also charges a 0.03 percent trading fee for all coins that were listed after March 21st, 2019. This Coinone review would be incomplete if it didn’t include a discussion of its security features.
Coinone’s security grade is D+, which is adequate when compared to the industry’s average requirement for security on crypto exchanges, according to the Mozilla Observatory. Coinone prioritizes the protection of its client’s assets and is committed to delivering the safest secure investment environment for its clients.
To protect the safety of their customer accounts and funds, it has robust security standards that employ verifiable methods, such as the usage of the two-factor authentication system, multi-signature wallets, and ID verification. Coinone has been in operation since 2014, and Coinone Indonesia has been operational since August 2018, with no faults or difficulties relating to the security of clients’ funds or account access mentioned or recorded thus far.
Coinone promotes its trading platform as sensible, accurate, and secure on its website. Prudence means that the exchange conducts extensive due diligence on the cryptocurrencies that seek to be listed on the platform. They are attempting to eliminate the possibility of any “scam coins” being listed on the platform by doing so.
We’re not sure what they mean when they say “accurate.” Security refers to whether or not the exchange is likely to be hacked. According to the platform, it was founded by a well-known “white-hacker.” This appears to make it more secure in some way (presumably because the white-hacker has been able to identify weaknesses with the platform and has eliminated them before launch).
Coinone has worked with other cryptocurrency and FinTech companies to expand its operations, adoption, and revenue. Temco, for example, is using Ripple’s worldwide blockchain-powered international remittance and payment service app, Cross, to help deliver Temco’s trades to individual investors. Moneygram has teamed up with Ripple and Coinone to form tripartite cooperation.