Best Cryptocurrency Exchanges & Platforms For 2022

Published Mar 13, 2022Updated: Apr 27, 2022
Aaron Seng
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If you're looking to get in on the cryptocurrency action and start an investment portfolio, then you will need to choose the right exchange that suits your everyday needs. There are literally hundreds to choose from and to make it even more confusing, each exchange offers its own suite of crypto products and services.

We have reviewed over 50 of the world's leading crypto exchanges and platforms and understand what makes a good and bad trading platform to buy and sell digital currencies. From these, we have handpicked the best and most well-equipped exchanges that might fit your crypto trading needs.

Top Crypto Exchanges & Platforms For 2022

Based on our exchange reviews, here are the best crypto exchanges and platforms for 2022.

  1. Coinbase (best exchange for beginners)
  2. Binance (best exchange for experienced or advanced traders)
  3. eToro (best option for social trading)
  4. FTX and FTX.US (best exchange for leveraged margin trading)
  5. BlockFi (outstanding interest-earning options)
  6. Crypto.com (best mobile app for fiat-to-crypto transactions and debit cards)
  7. Bybit (best mobile app for advanced trading)
  8. Kraken (best overall exchange for USA investors)
  9. Gemini (easiest platform for USA investors to use)
  10. KuCoin (great option for altcoin trading and trading bots)
  11. Gate.io (largest selection of altcoins)

Disclaimer: This article contains affiliate links through our supported partners. please read our disclosure for more information.

ExchangeAssetsTrading FeesOur RatingLearn morePromotion
Coinbase LogoCoinbase190+0.5% (maker) and 0.5% (taker)
4.5/5
Visit CoinbaseCoinbase ReviewNone available at this time
Binance logoBinance4180.1% (maker) and 0.1% (taker)
4.8/5
Visit BinanceBinance ReviewNone available at this time
etoro
eToro
251%
4.1/5
Visit eToroeToro ReviewNone available at this time
ftx exchange
FTX
320+0.02% (maker) and 0.07% (taker)
4.3/5
Visit FTXFTX ReviewNone available at this time
crypto.comCrypto.com250+0.4% (maker) and 0.4% (taker)
4.3/5
Visit Crypto.comCrypto.com ReviewNone available at this time
Bybit
Bybit
85-0.025% / 0.075%
4.7/5
Visit BybitBybit Review3.5% deposit bonus up to $3,500
kraken
Kraken
1020.16% (maker) and 0.26% (taker)
4.3/5
Visit KrakenKraken ReviewNone available at this time
Gemini Exchange
Gemini Exchange
800.5%
4/5
Visit Gemini Exc...Gemini Exchange ReviewNone available at this time
kucoin logo
KuCoin
5930.1% (maker) and 0.1% (taker)
4.4/5
Visit KuCoinKuCoin ReviewNone available at this time
gate.io logo
Gate.io
12750.2% (maker) and 0.2% (taker)
4.3/5
Visit Gate.ioGate.io ReviewNone available at this time

Crypto Exchanges & Platforms: 2022 Reviews

1. Coinbase

BEST EXCHANGE FOR BEGINNERS

Features

  • A feature-rich online storage solution with Coinbase Wallet. The wallet can be downloaded as a mobile app and allows you to store up to 4,000 digital assets, purchase NFTs, trade tokens on DEXes, and use a range of dapps.
  • Two separate platforms to buy and trade over 150 digital currencies. The original Coinbase platform is where you can easily buy crypto. Coinbase Pro is a separate platform where you have access to a greater number of trading pairs, advanced charting options, and limit orders.
  • Industry-leading security measures and insurance cover in the event of a security breach.
  • A unique course tailored for beginners where you can learn about crypto and earn rewards along the way.

Why We Picked It

Simply put, Coinbase does the basics extremely well. For those who are new to crypto, Coinbase is a great choice as it solves the key concerns that most beginners have including the safety of their money and digital assets, as well as how difficult the platform is to use.

The platform has been specifically designed to provide a high level of functionality whilst retaining a simple interface that makes the learning curve a short one. The crypto features offered by Coinbase allow you to manage your crypto with confidence but also assist in increasing your trading abilities and knowledge over time.

Overview

Coinbase's popularity is simply astounding. Since its establishment in 2012, Coinbase has grown to a user base of over 73 million investors and traders across over 100 countries. The San Fransisco headquartered exchange is now one of the largest exchanges by trading volume.

In April 2021, Coinbase (COIN) became publically listed on the NASDAQ stock exchange which was generally seen as a vote of confidence for the wider subject of regulation of crypto in the USA.

coinbase feature

Coinbase is the perfect first choice if you are a beginner and just starting your cryptocurrency journey, or have been in crypto for some time. One of the key selling points of the platform is its beginner-friendly interface. The design of the interface has been deliberately scaled back to provide you with a seamless combination of simplicity and functionality.

Once you complete the rapid signup process, you can use USD, EUR, or GBP to finance your account wallet. Coinbase has a modest range of cryptocurrencies with 153 to choose from including Bitcoin (BTC), stablecoins (e.g. USDT), and popular altcoins such as Ethereum (ETH), Ripple (XRP), Solana (SOL), Polygon (MATIC), Dogecoin (DOGE), and Shiba Inu (SHIB).

All crypto exchanges provide hot-wallet storage of your funds and digital assets, however, Coinbase takes that a step further with the Coinbase Wallet. The wallet is separate from the mobile app and allows you to store 4,000 assets including crypto, buy NFTs, use a range of dapps, and trade tokens on DEXes.

coinbase pro interface

If you are looking to dip your toes into a more advanced trading experience, then the Coinbase Pro exchange will be the natural step up. The platform, which is separate from the original Coinbase platform, provides you with real-time charting tools with moving averages, trade history, order book, and price charts. Additionally, Coinbase Pro offers you several order types including stop orders, limit orders, and margin orders.

If you're worried about the safety of your hard-earned money and assets then the standard of Coinbases's security will give you some confidence. Coinbase has an outstanding security track record and is well-known for its industry-leading security measures. The platform also has insurance cover in the rare event that a security breach occurs.

2. Binance

BEST EXCHANGE FOR EXPERIENCED AND ADVANCED TRADERS

Features

  • Binance is the #1 ranked cryptocurrency exchange in the world for the depth of its liquidity in its order books, high trading volumes, and traffic. 
  • Extremely low trading fees of 0.1% can be reduced by increased trading volume.
  • One of the largest selections of cryptocurrencies to buy, trade, and sell (400+).
  • Full-featured and streamlined mobile apps for iOS and Android devices.
  • A suite of innovative products and services including the ability to purchase NFTs, earn interest on crypto holdings with Binance Earn and staking, margin trading for advanced traders, and a Visa debit card to spend crypto.

Why We Picked It

Binance's access to high liquidity means that you can trade cryptocurrencies at lower spreads with less slippage compared to smaller exchanges with lower liquidity. Combining this with the hundreds of supported cryptocurrencies and trading pairs, Binance is a strong option if you are a highly active altcoin trader. In addition, the trading interface is clean, modern, and simply exquisite and will suit serious traders. If there is a crypto feature you would like to use, then Binance most likely offers it.

Overview

Binance is the colossus of the crypto world. It is such a household name that it is often the first choice for global investors and traders, and with good reason. Founded in 2017 by Changpeng Zhao, the exchange has quickly grown into the world’s largest exchange in terms of trading volume, liquidity, and traffic. 

Binance boasts an ecosystem of staple and innovative crypto services and features that caters to a wide spectrum of crypto users on a user-friendly interface. Binance’s strengths lie in its high liquidity for trading pairs, low trading fees, a wide range of services, and an ecosystem of innovative features. 

binance feature

The Binance brand reaches crypto users in over 180 countries worldwide and is made up of several subsidiaries. You must comply with Know Your Customer (KYC) procedures and provide basic personal information to verify your identity before using the services on the platform.

The core of the Binance brand revolves around the sheer trading volume and liquidity, as well as the vast number of digital assets and selection of trading pairs. This makes it a highly attractive option for investors and traders of varying levels of experience and knowledge can trade cryptocurrencies. On top of this, Binance continues to provide innovative products and features to maintain its status as one of the market leaders in the crypto space. Some of the key features of Binance include:

  • An enviable array of over 400 digital currencies including BTC, stablecoins (e.g. USDT), and a vast selection of altcoins such as SHIB, LUNA, DOT, MATIC, SOL, LINK, and many more.
  • Buy, sell, mint, and bid on a diverse range of trending and popular NFTs in the Binance marketplace.
  • Grow your crypto holdings by earning interest on the principal deposited with Binance Earn. You have the option of selecting predictable returns or higher yields with greater risk to capital.
  • Stake one or more of 76 cryptocurrencies including Ethereum 2.0 for periods of 30, 60, or 90 days to earn up to 32% Annual Percentage Yield (APY).
  • Binance VISA Card to convert and pay with crypto.
binance interface
The Binance trading interface.

One of the key reasons why Binance has skyrocketed to popularity amongst a wide range of crypto users is its user-friendly trading interface. Binance has done an excellent job designing a highly functional but modern interface that caters to beginner investors to serious traders. Switching between trading pairs is easy with no latency issues.

Advanced traders will enjoy and appreciate the TradingView live charting which is seamlessly integrated into the trading interface. The premium charting tool comes complete with all the advanced analytical tools and indicators you need to identify and optimize your trades.

3. eToro

BEST OPTION FOR SOCIAL TRADING

Features

  • Social trading lets you copy the portfolios of successful traders or top-performing portfolios. To assist with choice, portfolios that can be copied are organized into various categories such as most copied, trending, and long-short investors. eToro also presents portfolio suggestions based on their market performance, popularity by top traders, and thorough market research and strategy.
  • The eToro platform interface has been designed for beginner investors in mind. Upon login, you will find the dashboard interface to be clean and well laid out.
  • A free demo or ‘virtual’ account where you are given a $100,000 deposit to become familiar with the platform’s features and practice trading.

Why We Picked It

The main advantage that eToro carries over its competitors, is that the platform is incredibly fluid and aptly suited for beginner investors. The majority of its features and low deposit amounts have been tailored toward beginners starting their investing journeys. If you have little trading knowledge then you don't need to worry as you can mirror the trades of other investors.

Overview

eToro is a multi-asset social trading platform that offers cryptocurrency, stock, and Contract-For-Difference (CFD) trading to people all over the world. Since its inception in 2007, eToro has expanded across the world and has reached over 20 million users. eToro is now a global leader in the social trading market where you can copy the trades and portfolios of high-performing investors.

etoro feature

The ease of use factor on eToro is high with the trading experience enjoyable and engaging. The dashboard and trading interface are well laid out, clean, and modern which makes for an easy time navigating through the various features and menus. Upon logging in for the first time, you will be able to take a virtual tour of the platform which is a small but nice addition.

eToro is well-known for its copy trading feature which allows you to mirror the performance of successful traders. This feature allows you to see the portfolios held by high-performing traders and copy them over to your portfolio.

etoro copy trading
Copy high-performing crypto portfolios of successful investors.

To further bolster its appeal and suitability to trading newcomers, eToro offers you a free demo mode that can be toggled on and off. The demo mode comes equipped with $100,000 of virtual USD for you to explore the features of the platform and practice trading. Since funds are virtual, trading can be undertaken with zero risk to your money.

A unique feature of eToro is that trading fees are not charged and there are no fees to finance your account with USD via credit card, PayPal, rapid transfer, bank transfer, Neteller, or Skrill. Instead, only spreads apply which range from 0.75% for BTC to 4.5% for MIOTA. eToro can offer lower spreads for BTC due to the significant trading volume.

4. FTX & FTX.US

BEST EXCHANGE FOR LEVERAGED MARGIN TRADING

Features

  • Deep order books and significant liquidity. FTX is ranked the #3 cryptocurrency exchange in the world for liquidity, traffic, and trading volume.
  • Extremely competitive maker and taker fees starting at 0.02% and 0.07%, respectively. Trading fees can be reduced if the native FTX token (FTT) is held or staked or based on a 30-day trading volume.
  • Excellent trading interface offering TradingView live charting, advanced market analysis features, drawing tools, and indicators. Positions can be easily viewed and managed with several different types of orders methods supported to open and close a trade.
  • Over 259+ supported digital currencies and an abundance of markets.
  • Up to 20x leverage on tokens as well as the option to go short or long on positions with up to 3x leverage with no margin.
  • MOVE contracts that execute to the absolute (positive or negative) change in the market price of an asset over time.
  • Instant OTC quotations that can be acted upon.

Why We Picked It

FTX and FTX.US are leading cryptocurrency exchanges that offer spot, futures, leveraged tokens, and OTC trading to investors and traders worldwide including in the United States. The exchange is best known for its derivatives trading offering where a wide variety of leveraged tokens can be traded on the options or futures market. Serious traders will be able to utilize the abundance of markets and supported digital currencies, along with the extremely low trading fees to maximize their trading activities. The significant liquidity provides tighter spreads and minimal price slippage.

Overview

FTX was founded by prominent crypto figurehead Sam Bankman-Fried and Gary Wang in May 2019. The exchange is backed by Alameda Research, a $100 million AUM quantitative cryptocurrency trading firm that provides liquidity worldwide. Alameda trades over $600 million and up to $1 billion per day through exchanges like FTX and accounts for approximately 15% of global stablecoin volume.

FTX.US feature

On the back of its assortment of derivative trading products, the exchange quickly rose to popularity and continued to expand. In August 2020, FTX acquired Blockfolio, a cryptocurrency portfolio tracking app, for $150 million. In 2021, FTX raised $900 million at a valuation of $18 billion from over 60 investors including Binance, which solidified its standing as a serious cryptocurrency exchange. At the time of writing, FTX was ranked #3 in the world for traffic, trading volume, and liquidity.

FTX is a top cryptocurrency derivatives trading platform that has been built by traders for traders. The platform is robust, visually intuitive, and rich in advanced features that will satisfy the trading needs of intermediate and experienced traders. The live charting is powered by TradingView, the most popular charting package that provides you with advanced tools and indicators to assist in identifying and maximizing trades. 

FTX.US trading interface

On FTX, you have access to an abundance of markets and trading pairs with over 259+ supported digital currencies. On top of this, FTX offers some of the most competitive trading fees in the market which start at 0.02% (maker) and 0.07% (taker). This makes it highly desirable for retail traders utilizing OTC services, and professional traders. If you hold or stake the native FTX token, FTT, you may be entitled to receive additional benefits to enhance your trading experience such as reduced trading fees and increased commissions from the referral program.

FTX is a safe and secure cryptocurrency platform that operates in over 190 countries around the world. The exchange is licensed and regulated by the local government authorities to provide cryptocurrency services. FTX is not available in the United States, however, residents can access the same features through FTX.US which holds multiple state licenses.

If you want the option of trading on the go then you can with the FTX Pro mobile app. The app is compatible with both iOS and Android devices and provides access to the majority of features. If you value account security, then you will appreciate the ability to set up biometric fingerprint login for extra peace of mind and convenience.

5. BlockFi

OUTSTANDING INTEREST-EARNING FEATURES

Features

Why We Picked It

Overview

6. Crypto.com

BEST MOBILE APP FOR FIAT-TO-CRYPTO TRANSACTION AND DEBIT CARD

Features

  • One of the best mobile apps for fiat-to-crypto transactions in the world where over 250+ cryptocurrencies can be purchased at true cost.
  • Use over 30 digital currencies as a form of payment for goods from online retailers and earn cash back rewards of up to 10%.
  • Access to perpetual and futures derivatives trading on Crypto.com Exchange which sports the powerful TradingView charting package.
  • A range of premium crypto debit cards that can be topped up using your local fiat currency or crypto. The Crypto.com Card can be used at any online or retail merchant that accepts Visa.

Why We Picked It

Simply put, the Crypto.com mobile app is a world-class vehicle for making fiat-to-crypto transactions. Once you have linked your bank account or credit/debit card, you have fast access to over 250 digital assets such as BTC, ETH, LINK, and ADA that can be bought at their true cost. Its sleek and smart design allows you to efficiently track your portfolio and acts as a portal to other services such as Earn, Pay, NFTs, and DeFi Swap.

The Crypto.com Visa Card is the only crypto debit card you will ever need. Depending on the amount of CRO you stake, there are 5 card tiers with cashback rewards of up to 8% and a suite of other benefits.

Overview

Crypto.com is a crypto exchange that has significantly increased its commercial exposure in recent times. The Singapore-headquartered exchange boasts a customer base of over 10 million investors and traders spanning 90 countries around the world including the United States of America.

The Crypto.com brand consists of the mobile app and the separate Crypto.com Exchange. Unlike other global exchanges, all of Crypto.com's features except derivatives trading are accessible from your mobile device and not through a desktop version. The Crypto.com Exchange, however, provides access to excellent spot, perpetual, and futures trading,

crypto.com mobile app

The Crypto.com mobile app is one of the most popular fiat-to-crypto exchanges in the world with over 10 million downloads across iOS and Android devices. The trading app provides a fast, easy and safe way to buy crypto at true cost using a debit/credit card or by linking a bank account for direct transfers. The app design has been tailored for usability making it simple for you to scan through and find a feature or product in seconds. 

If you're an experienced investor who wants to do more with your crypto than just holding it, then the Crypto.com app is a strong option for everyday utility and application. The seamless utility the app provides is a key reason why it is one of the best mobile apps to buy crypto with fiat currencies.

Crypto.com offers a series of Visa debit cards that can be topped up using your local fiat currency or crypto from your portfolio. The card can be used for purchases at in-store or online retailers that support Visa.

crypto.com visa debit card
The Crypto.com Visa debit card range.

To apply for the card, you must stake CRO tokens for a period of no less than 180 days. The amount of CRO that you stake determines the card you can apply for. The rewards for using the card are quite attractive that ranging from 1% for the Midnight Blue card to 8% for the Obsidion card.

If earning a passive income on your crypto is down your alley, then the Crypto.com Earn feature might be for you. Over 40 digital assets including BTC, ETH, LTC, and XRP are supported where up to 14.5% interest can be earned over flexible or set terms.

7. Bybit

BEST MOBILE APP FOR ADVANCED TRADING

Features

  • A crisp, sleek, and responsive mobile app for iOS and Android devices that deliver spot, futures, and perpetual trading features with high precision. Leveraged positions of up to 100x can be applied.
  • Highly competitive trading fees for maker (-0.025%) and taker (0.075%) orders.
  • A clean and modern trading interface featuring TradingView charting and analytical tools.
  • 30% affiliate program.

Why We Picked It

Bybit is a serious crypto trading platform that provides an innovative and advanced trading experience. All of the platform's cutting-edge spot and derivatives trading features can be used on the iOS and Android compatible apps that are streamlined and responsive. The mobile app has been downloaded over 1 million times across Bybit's 3 million-strong user base.

Overview

Established in 2018, Bybit is a global cryptocurrency derivatives trading platform where leverage of up to 100x can be applied to spot, perpetual, and futures trading. The Singaporean-based exchange has over 3 million users across countries including Australia, Canada, Europe, South East Asia, and Russia. Due to regulatory reasons, Bybit is not able to provide its services to investors and traders located in the United States.

Bybit offers premium spot and derivatives trading features, including:

  • Spot trading where you can use your USDT to purchase over 82 digital assets including BTC, SOL, ETH, SAND, LTC, ADA, DOT, and DOGE.
  • Perpetual trading where you can use your USDT as collateral for trades. There are over 79 trading pairs with popular crypto and you to take short and long positions for more flexibility.
  • Inverse perpetual trading using BTC, ETH, EOS, XRP, BIT, or DOT as the base currencies.
  • Inverse futures using BTC or ETH as collateral and leverage of up to 100x. Futures contracts have a pre-determined settlement date where your positions must be settled.
bybit trading interface
The Bybit trading interface.

The Bybit interface offers a world-class trading experience. The powerful TradingView charting package is centrally positioned which lets you analyze the price action of cryptos with all the advanced indicators and drawing tools. The order books and order panels take a backseat from the charts, however, are neatly laid out in a crisp and modern fashion that is visually pleasing and provides a high degree of functionality.

8. Kraken

BEST OVERALL EXCHANGE FOR USA INVESTORS

Features

  • Kraken is ranked #6 in the world for trading volume, traffic, and liquidity in its order books. The higher liquidity means that fiat and crypto trading pairs are easier to transact with decreased slippage in prices. 
  • A feature-rich TradingView interface offers a wide range of advanced search analysis methods including momentum analysis, volatility, oscillator, and mean reversion tools.
  • Attractive crypto such as BTC, SOL, and ETH 2.0 can be staked to earn Annual Percentage Yields (APY) of up to 20%.
  • Earn passive crypto rewards by staking coins. margin and futures trading is also available.

Why We Picked It

Kraken has earned a reputation for its robust security framework, customer service, and regulatory compliance. If you are a beginner with minimal crypto trading knowledge and experience then you might find the platform to be a bit daunting. In our opinion, Kraken would be an ideal choice if you have at least some level of crypto trading experience. Intermediate and experienced traders will find the advanced features in Kraken Pro to suit their trading needs.

Overview

Established in 2011, Kraken is one of the longest-serving cryptocurrency exchanges in the world. In terms of trading volume, Kraken is one of the largest cryptocurrency exchanges which provides a secure way to buy, trade, and sell crypto in over 190 countries around the world. The crypto exchange offers several features that are not offered by many other platforms. Some of these include futures and leveraged margin trading, staking, and the ability to trade on multiple exchanges through a single platform.

kraken feature

Kraken features include:

  • Leveraged margin trading with 16 cryptocurrencies including BTC, XRP, ETH, TRX, and USDC where leverage of up to 5x can be obtained.
  • Futures trading where users can speculate and profit on the price of a digital asset.
  • Stake 10 cryptocurrencies including ETH 2.0, SOL, ATOM, BTC, and fiat currencies EUR and USD, to earn rewards of up to 20% APY.
  • Connect to 25 other cryptocurrency platforms with Cryptowatch to access over 4,000 markets.
  • Trade cryptocurrencies on Kraken Pro, a premium trading interface for experienced and serious traders.
  • Self-Managed Super Fund (SMSF) support for those who want to build long-term stores of value.
  • Access to a wealth of premium educational resources to expand your crypto knowledge including guides, podcasts, webinars, and videos.
  • Industry-leading security measures to ensure the safety of customer funds and assets as well as compliance with local regulatory requirements.

Are you a serious trader? In that case, the features of Kraken Pro Experienced and serious traders who want to maximize their portfolios through the use of advanced trading features will find Kraken Pro to be highly appealing.

The charting on Kraken Pro is second to none and rivals other premium charting packages that are available. Beginners will find the interface particularly daunting, however, experienced traders will get a lot of value from Kraken Pro’s powerful features, including:

  • An abundance of search analysis tools such as mean reversion, momentum, oscillator, statistical analysis, trend analysis, and volatility tools.
  • Several charting styles to choose from such as candlesticks, Hiekin-Ashi, bar, line, and mountain. The live charting can also be customized for aesthetic or functional purposes to maximize the visibility of market price actions.
  • A suite of drawing tools including Fibonacci and annotation to allow note-taking.
kraken pro

Trading fees on Kraken Pro follow a maker and taker structure with fees of 0.16% and 0.26%, respectively, which are quite competitive in the market. As an added advantage, trading fees can be reduced further if the trading volume on all cryptocurrencies for the past 30 days reaches certain milestones, and will benefit you if you're a high-net trader.

9. Gemini

EASIEST PLATFORM FOR USA INVESTORS TO USE

Features

  • Gemini Earn: A feature where you can earn up to 8.05% on your crypto principle. Interest compounds daily and your assets can be withdrawn at any time.
  • Earn up to cashback on dining, groceries, and other purchases made using the Gemini Credit Card. There are no annual fees, foreign transaction fees, or exchange fees, and the card can be used anywhere where Mastercard is accepted.
  • Spend your Bitcoin, Ethereum, or Gemini Dollar (GUSD) at over 30,000 retailers in the USA.
  • A standalone platform called ActiveTrader serves as the advanced crypto trading platform. The platform offers advanced charting, limit orders, order book visibility, and a unique maker and taker fee schedule.

Why We Picked It

Gemini has forged itself a unique position in the USA crypto market by developing a suite of crypto products and services that are targeted toward active crypto users. Every day people in all 50 US states who like to earn a passive income or spend their crypto on retail purchases will appreciate the beginner-friendly features such as earning interest, the Mastercard, and mobile apps.

Overview

Unlike some of its competitors listed in this comparison article, Gemini is a reputable cryptocurrency exchange that is available in all 50 US states. The New York-based crypto exchange has built its success on two aspects comprising its sophisticated security and a suite of innovative crypto products and services that can be integrated into the daily lives of a broad range of crypto users.

Gemini is well-known for its robust security framework that is at the forefront of how Gemini conducts its business. The world-class security measures that are implemented into its digital infrastructure are a cut above the rest and will provide you with peace of mind when it comes to depositing your USD. The majority of Gemini assets are secured in geographically distributed cold wallets which are protected by FIPS 140-2 Level 3 security, private hardware keys, multi-signature access, and partnerships with security vendors to mitigate against external attacks.

gemini feature

Gemini offers a modest range of 80 digital currencies to invest in and trade including BTC, LTC, AAVE, LUNA, DAI, and SUSHI. Whilst the exchange does not offer you a huge number of supported crypto, it makes up for it by providing several products and services that will appeal if you're active with your portfolio. These include:

  • Earn interest of up to 8.05% on 42 digital currencies including BTC, FTM, DOGE, BCH, MATIC, LTC, and many more. This is a fantastic way to earn a passive income on your crypto holdings if you're not planning to trade with them.
  • Use the Gemini Credit Card to earn cashback up to 3% on dining, grocery, and other purchases. The credit card supports the use of Bitcoin, Gemini Dollar, Ethereum, Litecoin, Zcash, or Bitcoin Cash as a payment method. There are no annual fees, no foreign transaction fees, and no exchange fees and the card can be used anywhere in the world that accepts Mastercard.
  • Spend your crypto in over 30,000 US retail stores with no Gemini incurred fees. A bonus is the ability to use the dollar-pegged stablecoin GUSD as a payment method to avoid price volatility in other cryptocurrencies. The GUSD is the world's first regulated stablecoin designed for scalability and useability in a wide variety of transactions.
gemini earn interest
The Gemini Earn Interest Calculator can be used to estimate your returns over the 1 to 4 year period

To complement Gemini's products and services for everyday crypto users, the exchange also offers you the ability to conduct advanced trading using ActiveTrader. ActiveTrader is separate from the main Gemini platform and will require you to create an account using unique login details. ActiveTrader features include advanced charting, order book visibility, and 8 advanced order types such as market, limit, fill-or-kill, and stop limit.

10. KuCoin

GREAT OPTION FOR ALTCOIN TRADING AND TRADING BOTS

Features

  • Over 600 altcoins, over 400 unique trading pairs, and more than 1,100 markets.
  • A Fast Trade feature where you can quickly purchase digital assets using your local fiat currency in just a few clicks.
  • A cutting-edge trading interface that supports leveraged margin trading (up to 10x) and futures trading (up to 100x) that allows you to speculate on the price of cryptos. Over 80 digital assets can be paired with BTC, ETH, or USDT (Tether).
  • A beginner-friendly trading bot system where you can create or download bots to automate your spot and derivatives trades. The Spot Grid is the most popular bot with over 4.8 million downloads.
  • A zero-fee Peer-to-Peer marketplace where you can conduct fiat-to-crypto trades directly with other KuCoin users.

Why We Picked It

KuCoin is highly suited to non-USA investors and traders who need top-of-the-line crypto trading features and services, an abundance of markets and altcoins, and advanced tools to hedge against risks and amplify profits. Despite being an advanced crypto exchange, the simplicity and functionality of the platform will ensure that you are not out of their depth if you're relatively new to the crypto space.

Overview

At the time of writing, KuCoin is ranked #5 in the world for trading volume where over $4 billion worth of trades is completed daily. Since the exchange's establishment in 2017, KuCoin has become one of the world's most popular trading platforms for investors and traders of all levels. The key factors for this entail the platform's ease of use which makes it beginner-friendly and also its ecosystem of innovative services and features.

KuCoin is truly global and provides its services across 205 countries and in 19 languages including English, Spanish, Dutch, German, and Italian. However, if you're residing in the USA then you'll need to seek an alternative exchange as KuCoin is currently not licensed to operate due to regulatoryMasterCard reasons.

The ability to 'quick buy' cryptocurrencies is sometimes overlooked by global exchanges. KuCoin allows you to spend your local fiat currency via a Visa card, Mastercard, or ApplyPay to buy crypto near-instantly.

There is a multitude of platforms that offer trading bots, however, KuCoin has placed an emphasis on simplicity which makes their trading bots easy to understand for the beginner. You can either download an existing bot that suits your spot or derivatives trading or create your own. The Spot Grid is the most popular, however, some bots provide trading flexibility and control such as the Smart Rebalance and Infinity Grid.

  • Smart Rebalance: Automatically buys low and sells high whilst maintaining your portfolio allocations for each digital asset.
  • Infinity Grid: buys low and sells high in percentages with no upper limit (derivatives).
kucoin trading bots
KuCoin trading bots have seen more than 6 million downloads.

In addition to providing a serious trading platform, KuCoin also offers a diverse range of support services to assist you with portfolio management.

  • The ability to borrow or lend cryptocurrencies for leveraged margin trading and to earn interest.
  • A P2P marketplace where you can conduct fiat-to-crypto transactions directly with other KuCoin users and with no trading fees.
  • The staking of 18 coins including ETH 2.0 where you can earn rewards of up to 52%. Staking terms vary for each coin and range between 1 day and 28 days.

11. Gate.io

LARGEST SELECTION OF ALTCOINS

Features

  • One of the largest selections of cryptocurrencies in the world with over 1,200 altcoins and over 1,700 trading pairs to buy, trade, and sell.
  • A secure fiat gateway so you can easily purchase crypto through reputable third parties.
  • Standard and professional trading interfaces that will suit beginner and advanced traders. The TradingView charting package and its analytical tools are integrated into both interface versions.
  • Excellent spot, portfolio copying, leveraged margin, ETF token, futures, and P2P trading options. A unique feature is the ability to set advanced orders for spot trading including Limit, Iceberg, and Immediate or Cancel (IOC) orders.
  • Premium financial products to allow you to manage your cryptocurrency assets such as HODL & Earn, Lend, and Loan.

Why We Picked Itselections

Gate.io offers one of the largest selections of altcoins in the world with over 1,200 to buy, trade, and sell. Whilst thereise a multitude of advanced spot and derivatives trading options, the platform caters to both beginners and serious traders by providing two trading interfaces to suit your level of experience.

Overview

Gate.io is a global crypto exchange platform that was founded in 2013. Originally based in China, the platform has undergone several corporate changes since where it is now registered in Virginia, USA. According to CoinMarketCap, gate.io is ranked #7 in the world for traffic, trading volume, and liquidity with a daily trading volume over $902 million.

Gate.io is a secure and reliable trading platform that offers a variety of markets such as spot, crypto EFTs, options, P2P, leveraged margin, and derivatives. The exchange possesses the largest offering of digital services with over 1,200 cryptocurrencies to buy, trade, and sell. Due to regulatory restrictions, traders in the United States have limited trading options and may only take part in crypto spot trading.

Some of the premium crypto trading features that Gate.io offers include:

  • Crypto-to-crypto spot trading where orders types such as limit, iceberg, and IOC can be applied to add flexibility and control.
  • Margin trading where a leverage ratio between 3x and 10x can be taken on positions.
  • ETF leveraged tokens that maximize capital management whilst reducing your actual leverage overhead and risk.
  • Direct crypto-to-crypto P2P trading with other Gate.io users.
  • A fee-free coin-to-coin swapping service.
  • Multiple types of derivatives trading features including perpetual, delivery, and options.

Depending on your level of expertise and experience, Gate.io provides you with the choice of a standard or professional trading interface. The standard interface is a simplified version of the highly advanced professional interface and doesn't have a lot of panels and options to distract you. The powerful and feature-rich TradingView charting package so you can analyze the price action of trading pairs and make trades using advanced market orders.

gate.io standard interface
The standard Gate.io trading interface is more suited to beginners than the professional version.

Types Of Cryptocurrency Exchanges

Brokers

A cryptocurrency broker is a trading platform that finds the best possible prices from several large volume cryptocurrency exchanges and presents those prices to their customer. Since these platforms tend to be designed for the beginner trader or investor in mind, the processes and steps to purchase crypto tend to be simple, quick, and easy.

Customers will benefit from the typically high liquidity associated with high trading volumes as the amount of price slippage is reduced. A spread is typically applied to each trade and investors and traders alike should not confuse this with trading fees. The spread is the difference between the buy and sells price.

Trading Exchanges

Cryptocurrency trading exchanges are typically marketed towards beginner and intermediate investors and traders. Most are rich in features such as order types and advanced trading charting packages. The more established exchanges typically offer a wide variety and number of digital assets that can be bought, traded, and sold and this would cater to those who want to diversify their portfolios.

Trading exchanges feature highly intuitive user interfaces with charting features and tools such as technical indicators, drawing tools, and chart patterns to allow traders to analyze the price action and identify trading opportunities. Binance is an example of a popular crypto trading platform. 

Contract for Difference Providers

A Contract-For-Difference (CFD) crypto exchange allows traders to speculate on the direction of the price without purchasing the asset. This allows the trader to long or short cryptos with leverage. Simply put, a digital asset such as Bitcoin can be traded without actually using the asset itself but using fiat currency instead. CFP providers will typically have demo accounts available for customers to practice trading before switching to a real account. The learning curve for new traders is flattened by features such as simplified trading interfaces and charts, presentation of top-performing portfolios which can be copied, and pre-set crypto in wallets.

Plus500 and eToro are examples of CFP providers.

Futures and Derivative Exchanges

Futures and derivatives exchanges such as Bybit and FTX offer advanced trading platforms that use a maker and taker fee structure for investors and traders that have a thorough understanding of limit orders and possess sound risk management principles.

Trading crypto with leverage comes with significant risks that can result in losses greater than the starting capital and are for advanced traders only. These types of platforms are excellent for customers that understand how to short sell crypto to:

  • Bet on the crypto asset value decreasing in price.
  • Increase the amount of crypto in a portfolio by profiting on price corrections during an uptrend.
  • Hedge a portfolio to lock in gains and minimize losses during a downtrend.
  • Create significant profit potential by using leverage to borrow more money.

Our Exchange Review Methodology

There is a multitude of cryptocurrency exchanges in the US market and it can be difficult to understand the nuances of each and how they compare. As a result, deciding which crypto exchange is best is a challenging exercise for the everyday trader or investor.

Our mission is to provide high-quality, in-depth, and accurate information on the latest products and services from each exchange. Our reviews are based on our own real-life experiences to give you unbiased information to assist with your decision-making process. This includes creating a verified account, depositing funds, placing trades, and withdrawing funds with each exchange and platform to gain a complete and robust understanding of the user experience. We then evaluate and rate each US exchange out of 10 points.

Key factors and aspects we look for in a good cryptocurrency exchange are primarily based on what is important to the everyday trader or investor. As such, our detailed exchange reviews take into consideration the following factors (but are not limited to):

  • Is the exchange a reputable and trustworthy platform to invest and trade crypto? The reputability and trustworthiness of exchange are slowly built up over time. We assess how the exchange was established, the number of users, its mission, and level of community perception.
  • Is the platform interface easy to use? Beginner investors will look for simple and intuitive interface designs which present how to buy, trade, and sell crypto. More experienced and advanced traders will still appreciate simplicity however advanced features such as charting will be sought to maximize trading potential.
  • How fiat or crypto funds are deposited to enable trading to vary from exchange to exchange. Important aspects that we take into consideration are the number of deposit methods, support for USD deposit options, minimum and maximum limits, and how fast transactions can be completed.
  • The minimization of fees incurred matters to all traders and investors. We assess and compare fees that are charged by the exchange which include deposit fees, buy and sell fees, spreads, and trading fees. 
  • We evaluate the strength of the exchange’s security measures implemented to protect funds and personal information. Are they in line with regulatory authority requirements and how do they compare against industry benchmarks and standards? These may include 2FA, use of cold storage, segregation of funds, and any known reports of security breaches resulting in loss or damage of held digital assets. 
  • Is the customer support team easily accessible and methods of help assistance. 

How To Choose A Cryptocurrency Exchange

There is an abundance of cryptocurrency exchanges that are available to United States residents. Knowing which one to choose greatly depends on your trading goals and experience.

We have compiled a list of key factors and considerations to help you choose the right crypto exchange to best suit your needs.

User Interface Experience

Our recommendation is to find an exchange where the level of platform matches your level of expertise and experience. Beginners should ideally be seeking out a User Interface (UI) that is simplistic, intuitive to use, and therefore making the trading experience easier and more enjoyable. Features that beginners should be on the lookout for include instant deposits and withdrawals, instant buying, and selling.

Based on our reviews and experience, the ease of use provided by Gemini, eToro, and Binance is best suited for people starting their cryptocurrency investment journeys.

If you're an advanced or serious trader, then you would need more detailed insight into the market. A UI that offers price charts, candlesticks, and graphs are features that advanced traders will look for.

Deposit / Withdrawal Methods and Limits

How you choose to deposit and withdraw funds into the exchange wallet will be a personal choice. The ease of performing, fees incurred, and how fast deposits and withdrawals can be made should be items of consideration. Direct bank transfer, Neteller, Skrill, PayID, and credit/debit cards are the most common options. Some exchanges will also allow deposits of certain crypto to be made.

The fee section of each cryptocurrency exchange should be reviewed as some deposit and withdrawal methods may not be supported. The time taken to transfer funds across a US bank account may vary across different financial institutions.

Another consideration is deposit and withdrawal limits. Depending on the exchange, there may be daily maximum limits of fiat currency that can be deposited or withdrawn.

Type of Trading

The type of trading you want to undertake will heavily influence the type of crypto exchange options. You will need to decide if you want to:

  • Trade fiat to crypto (e.g. NZD to BTC)
  • Trade crypto to crypto (e.g. ETH to BTC), or
  • A combination of the above.

Other key features which may influence your decision may include the ability to earn interest on your stored crypto or manage SMSF.

Fee Structure and Transparency

Customers should be aware of the various fees that may be incurred when trading on a cryptocurrency exchange. The most straightforward of these include deposit fees, withdrawal fees, and trading fees between assets, i.e. crypto to crypto.

Spread fees and foreign exchange conversion fees may not always be readily presented and may be ‘hidden’ before a transaction. Some exchanges will clearly present the fee incurred as a separate line item. A good exchange will have a dedicated fee section that should be reviewed. Most exchanges will offer zero fees on deposits and withdrawals. A competitive trading fee should be between 0.1% and 0.5% for each transaction made. The spread is the difference between the buy and sell price for a quoted cryptocurrency.

It is important to note that most exchanges that provide advanced trading will offer fee discounts depending on the volume traded. Generally, the fee decreases if the traded volume increases on a 30-day trading volume. The implications of this are quite significant (cost savings) if larger volumes are traded.

Supported Fiat and Cryptocurrencies

Make sure that the crypto exchange supports your target cryptocurrency and that USthe D trading pair is available (e.g. USD-BTC). Most exchanges will support the dominant cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). However, with thousands of digital currency projects and coins to buy and sell, finding an exchange that supports all is not possible. Some exchanges will support BTC only and others are constantly adding new coins to their support list.

Liquidity and Volume

The larger and more established digital currency exchanges will tend to have access to greater liquidity compared to smaller cryptocurrency exchanges. Liquidity refers to how easily one asset is converted into a fiat currency or another asset. The higher the liquidity of an exchange, the easier and faster it will be to complete fiat-to-crypto and crypto-to-crypto transactions.

Methods of Verification

Exchanges that provide fiat gateways are required to abide by local regulations by collecting customer information (known as Know Your Customer) so that a customer’s identity can be established. Whilst an account can typically be created with just a full name and email address, identity verification is required before buying and trading can be undertaken. 

The information and documents required by exchanges to verify your identity differ across exchanges, however typically include full name, email address, phone number, utility bill which states your address, and a copy of a United States government-issued form of identification (e.g. drivers license, passport).

For most exchanges, the identity verification process usually takes around 2 to 5 minutes to complete.

Account Security

Industry-standard security measures for crypto exchanges typically include multi-location and offline cold wallet storage of funds, a combination of hot and cold fund storage, multi-signature verification withdrawal process, and Two Factor Authentication (2FA). Other features may include user private key control, ID verification, notification on account activity (i.e. email and/or SMS), proof of reserve, email encryption, and 24/7 security protocol monitoring and penetration testing by third parties.

The security page of the exchange should be reviewed to confirm that industry-standard measures and protocols are being implemented.

Available Customer Support Tools

Although most cryptocurrency exchanges will offer similar customer support features, there are some variabilities. Most exchanges will offer a Frequently Asked Questions (FAQs) page which should address the most common troubleshooting queries. Some exchanges possess a dedicated knowledge base or library that presents a series of how-to guides and tutorials tailored for beginner and intermediate investors. We have found that the level of information within these libraries can vary greatly from the not so useful to the comprehensive.

Support tools to assist with immediate troubleshooting advice or assistance may come in the form of a ticket system or live chatbot. The ticket system is akin to directly emailing the exchange support team with a query however response times will vary across exchanges. We have noted that the larger and more established exchanges are more likely to offer a live chat service.

Beginner and intermediate investors alike would be well served to explore what communication and assistance tools are available for support.

Reputation & Online Reviews

Investors should be looking for an exchange that has a strong reputation for being reliable and secure. Websites such as Trustpilot and Product Review will be able to provide insight into the experiences and feedback from the current on former users of the exchange. Other online sources of customer reviews may include forum comments and social media posts. 

A quick assessment of online customers reviews will help to identify any particular issues that may be present.

How To Store Your Cryptocurrency

Deciding on how to store cryptocurrency comes down to two options. Firstly, digital assets can be kept in the exchanges storage system, which can be cold storage (wallet), or a combination of hot and cold storage. Secondly, cold-storage wallets may be used by individuals to hold crypto offline and usually in a physical state.

  • Hot storage refers to a wallet that is connected to the internet and can be accessed at any time. Examples include online cloud wallets, mobile wallets, software wallets, and exchanges. Hot wallets are great for keeping an amount of crypto available for frequent buying, trading, and selling. 
  • Cold storage refers to a physical means of keeping crypto in a storage device and is only accessible by the wallet owner. Examples include hardware wallets such as CoolWallet Pro and the Ledger Nano Cold wallets that are not connected to the internet. 

Since hot-wallets (e.g. exchanges) are connected to the internet, funds are susceptible to loss, damage, or theft, albeit the risks are low. With this in mind, investors and traders should be seeking a reputable and trustworthy exchange that has a stellar security record. The best way to mitigate against this potential risk is to store digital assets in a cold-storage wallet.

The key function of a cold wallet is to provide an extra security mechanism between the internet-connected device (e.g. computer) and the asset. All wallets will have a private key that legitimizes access to the stored asset. Most wallets usually come equipped with a variety of recovery options in case the wallet is lost or damaged.

How To Spend Cryptocurrency

The number of ways cryptocurrency can be used or spent is increasing. Traders and investors can use Bitcoin to purchase goods and services using the following methods (but not limited to):

  • Direct transferring of crypto from a wallet to the recipient's address.
  • Using a cryptocurrency debit card to send crypto to a merchant. The process is akin to using a standard debit card where held assets can be accessed or loaded onto the card. Some exchanges offer these services, whilst others do not.
  • Use stored Bitcoin to withdraw USD from a Bitcoin ATM.
  • Use crypto to purchase goods from merchants such as Mooning Market. Moon Market works similar to Amazon and eBay.

Frequently Asked Questions

Is It Legal To Buy Cryptocurrency In The United States?

The purchasing, trading, and selling of cryptocurrencies and other digital assets is legal in the USA. Under US Federal law, cryptocurrencies are not regarded as a currency however digital currencies are recognized by the United States government as property and are therefore taxable under certain scenarios.

What Is the Best Cryptocurrency Exchange For Beginners?

The best exchange depends on your investment or trading goals. However based on our reviews, Coinbase is the best overall crypto exchange to buy, trade, and sell digital assets and coins. The exchange has a wide range of features that cater to both beginner and advanced investors as well as offering low spreads due to its high liquidity. Other key factors such as the trading interface, customer service, and security record are best-in-class.

What Is The Best Crypto Hardware Wallet In the USA?

The Ledger Nano X and Trezor One are two of the most popular hardware wallets in the crypto market. Both possess desirable features such as best-in-class security measures, competitive price points, simple usability, and seed recovery. The CoolWallet Pro is considered an up-and-coming wallet that supersedes the widely popular Cool Wallet S.

Can You Buy Crypto With A Credit Card?

Crypto can be purchased using a credit card however it depends on what exchange you are using as not all with providing this service. An exchange that accepts credit cards as a method to make fiat deposits will be essential. The fees are typically higher however the method provides a level of convenience. Reputable and trustworthy exchanges should be used to buy crypto with a credit card such as Binance or Coinbase.

MoreCrypto
All content on www.morecrypto.com is provided solely for informational purposes. This information should not be misinterpreted as an endorsement to buy, trade or sell a cryptocurrency or any specific product or service. The opinions expressed in this blog do not constitute investment advice and independent financial advice should be sought where appropriate.