best crypto exchanges

10 Best Crypto Exchanges in 2022

ByJessica Thomson

As we move into the 21st century, more and more people are looking to invest in cryptocurrency. Bitcoin, in particular, has seen a dramatic increase in value in recent years and shows no signs of slowing down. When it comes to choosing the Best Crypto Exchanges in 2022, choosing a trustworthy and safe exchange is essential.

Cryptocurrency is booming, with more and more people interested in Bitcoin and other digital currencies. This can be a great investment opportunity, but choosing the proper exchange is essential to get the best deals and make the most of your money.

Best Crypto Exchanges You Must Buy in 2022

Here we will look at the best crypto exchanges for 2022 and explain why each is a good choice.

  • Coinbase
  • Binance
  • Kraken
  • Bitfinex
  • Gemini
  • OKEx
  • Huobi
  • eToro
  • CEX.IO
  • ShapeShift

1. coinbase

Coinbase is one of the best digital currency exchanges headquartered in San Francisco, California.

They broker exchanges of Bitcoin, Ethereum, Litecoin, and other digital assets with fiat currencies in 32 countries and bitcoin transactions and storage in 190 countries worldwide. Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam.

As of December 2017, Coinbase had 13 million customer accounts. In October 2012, the company launched the services to sell and buy bitcoin through bank transfers. In May 2013, the company received a US$5 million Series A investment led by Fred Wilson from Union Square Ventures.

In January 2015, Coinbase raised an additional US$75 million as part of a Series C funding round, smashing the previous record for a bitcoin company. During that time, it built a good reputation in the crypto community. It is one of the most user-friendly exchanges and popular with beginners.

Coinbase cryptocurrency exchange has a clean interface and is easy to navigate. You can sell and buy cryptocurrencies on Coinbase and store them in a wallet on the site. Coinbase also offers a mobile app, which is handy for those who want to trade on the go. One downside of Coinbase is that it does not offer as many altcoins as other exchanges. However, it does offer a good selection of the most popular coins, such as Bitcoin, Ethereum, and Litecoin. It is a good option overall

2. Binance

Binance is another best cryptocurrency exchange platform for trading various cryptocurrencies. As of January 2022, Binance was the largest cryptocurrency exchange in the world in terms of the trading volume.

Binance was founded by Changpeng Zhao, a Chinese-Canadian business executive, and developer who co-founded OKCoin. Zhao also founded Fusion Systems in 2005 in Shanghai; the technology startup provided high-frequency trade system solutions for brokers. He later joined Blockchain.info as the third cryptocurrency wallet team member.

Binance was created after attracting funds via an Initial Coin Offering (ICO), with 20 million coins sold out of a total supply of 200 million. The ICO raised 15 million dollars in one month. Zhao used the money to fund the development of the Binance exchange.


Advantages

  • Binance offers a user-friendly interface that makes it easy to trade cryptocurrencies.
  • The exchange also supports a wide range of altcoins, which is excellent for those looking to trade less popular coins.
  • Binance is a great choice for a reliable and user-friendly cryptocurrency exchange.

Drawbacks

  • Binance does not allow US-based users.
  • Another thing to keep in mind is that Binance has been known to be hacked in the past.

So while the exchange has since implemented better security measures, it’s something to keep in mind. 

3. Kraken

Kraken is also a great currency exchange which is US-based and founded in 2011. Kraken is a digital asset exchange that offers a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Monero, and more.

The Kraken team is comprised of experienced professionals from a variety of industries, including finance, software development, and security. Kraken offers several unique features, such as margin trading, staking, and OTC trading.

n addition to offering a robust trading platform, Kraken provides 24/7 customer support and tools for powering professional-grade trading. Whether you’re a seasoned trader or just getting started in cryptocurrency, Kraken is an excellent choice for buying, selling, and storing digital assets.

While Kraken is one of the most popular exchanges available, it is essential to understand both the benefits and disadvantages before using it. 

Advantages

  • Kraken’s main advantages include its low fees, high liquidity, and security.
  • The platform charges meager fees compared to other exchanges, making it an excellent choice for those who trade frequently.
  • The exchange takes security seriously and employs several measures to protect user funds, including two-factor authentication and encrypted email communications.

Drawbacks

  • One downside is that the platform can be complex to use for beginners.
  • Kraken is not available in all countries due to regulatory restrictions.


Generally, Kraken is a secure and reliable exchange, but its complex interface may not be suitable for everyone.

4. Bitfinex

Bitfinex is another digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers.

This is one of the Best Crypto Exchanges that has a rich history, founded in 2012 as the first Bitcoin exchange to offer leveraged trading. Bitfinex allows users to trade up to 3.3x leverage, providing ample opportunity for profit even in volatile market conditions.

The platform also offers margin lending, OTC trading, and other professional-grade features. Despite its long history, Bitfinex has not been without controversy. In 2016, the exchange was hacked, and $72 million worth of Bitcoin was stolen.

Bitfinex has since implemented several security measures to prevent a repeat of this incident. Overall, Bitfinex is a reliable and feature-rich platform that enables users to trade various digital assets. However, its hack history may give some users pause.

5. Huobi

The global supplier of financial services for digital assets is Huobi. Huobi established in China in 2013, Huobi now has offices in Hong Kong, Japan, South Korea, Singapore, and the United States. The platform offers spot trading, margin trading, derivatives trading, and more.

Huobi also has its native token, the Huobi Token (HT), used to pay fees on the platform or trade against other assets. HT holders also receive airdrops, voting rights, and accelerated withdrawals. The Huobi Token has a total supply of 500 million and is currently the 18th largest cryptocurrency by market capitalization. While Huobi is available in many countries, US users are not currently able to trade on the platform due to regulatory restrictions.

Huobi is one such exchange that offers some advantages and disadvantages compared to other exchanges.

Advantages

  • Huobi is one of the most user-friendly exchanges in operation today.
  • The interface is simple, making it easy for even first-time users to buy and sell digital assets.
  • Additionally, Huobi offers a broader range of altcoins than many other exchanges, giving users access to more opportunities for investment.

Drawbacks

  • Huobi has been known to be one of the slower exchanges in processing transactions.
  • The exchange has been subject to many hacks in recent years, which has led some users to question its security protocols.

    Huobi is a good option overall.

6. Gemini

Gemini is another best crypto exchange and custodian that allows customers to buy, sell, and store digital assets such as bitcoin, ethereum, and much more.

Gemini was founded in 2014 by brothers Cameron and Tyler Winklevoss, Gemini is a regulated and compliant exchange that investors worldwide trust. Gemini offers a retail exchange for individual investors and an institutional trading platform for large financial institutions.

In addition to providing a secure and compliant environment for buying and selling digital assets, Gemini offers several other services such as custody, lending, and staking. Gemini is a regulated exchange compliant with all applicable laws and regulations.

Advantages

  • One of the benefits of using Gemini is that it allows you to buy, sell, and store cryptocurrencies on a single platform.
  • This can be helpful if you’re looking to invest in multiple cryptocurrencies.
  • Another benefit of Gemini is that it offers customer support 24/7.
  • Gemini offers cold storage for its user’s cryptocurrencies, which means that your funds are stored offline and are not accessible by hackers.


Drawbacks

  • One downside of Gemini is that it only supports a limited number of cryptocurrencies.
  • Moreover, it has been known to be slow in processing withdrawals.

7. OKx

OKx was founded in 2014, OKx is a trading platform providing spot trading, futures contract, and perpetual swap trading, Headquartered in Malta, OKx has offices in Hong Kong, Singapore, South Korea, and the Philippines.

OKx offers over 400 token trading pairs and provides users with various ways to buy and sell virtual assets. For example, users can trade directly using the OKB token or USDT as collateral to trade on leverage. OKx provides margin loan and lending services to help users maximize their returns.

OKEx also offers OTC trading for large trades, options trading and futures contracts. The platform has gained popularity among traders due to its user-friendly interface and selection of advanced trading features.

Advantages

  • The main advantage of using OKEx is that it offers a wide range of trading pairs which allows you to diversify your portfolio.
  • You can trade major cryptocurrencies like Bitcoin, Ethereum, and Litecoin against fiat currencies like USD, EURO, or against other cryptocurrencies.
  • OKx supports multiple languages, which makes it accessible for users from all over the world.
  • The user interface is also relatively simple and easy to use.

Drawbacks

  • OKx is a centralized exchange, which means it is more vulnerable to hacking attacks.
  • In addition, it has been involved in several controversies, such as when it was accused of wash trading and delisted several popular cryptocurrencies.

8. eToro

When it comes to currency exchange, eToro is a leading name known as the Best Crypto Exchanges in the world. With over 10 million users in 140 countries, eToro offers a secure and easy-to-use platform for buying, selling, and exchanging currencies. The platform is easy to use and provides a convenient way for users to access the foreign exchange market.

eToro also offers a variety of features and tools that can help users to make informed decisions about their trades. For example, the platform provides live updates on currency rates, market analysis, and research.

It offers a demo account allowing users to test the platform before committing to actual trades. As a result, eToro is an excellent option for those looking for a simple and convenient way to access the foreign exchange market.


Advantages

  •  eToro offers a variety of features for both experienced and beginner investors. For example, users can copy the trades of other successful investors on the platform, which can help them to learn about the market and make profits more quickly.
  • eToro also has low fees compared to other exchanges, and there is no limit on how much money you can deposit or withdraw.

Drawbacks

  • eToro doesn’t offer as many coins as other exchanges.
  • eToro requires users to verify their identity before starting trading, which can be a hassle for some people.


Generally, eToro is a convenient platform that offers a variety of features for investors of all levels. However, weighing the pros and cons before signing up is essential.

9. CEX.IO

CEX.io is a London-based cryptocurrency exchange that has been around since 2013. The platform allows users to buy, sell, and trade various cryptocurrencies and use a credit or debit card to make purchases. CEX.io also offers margin trading and a mobile app for trading on the go.

Advantages

  • The main advantage of using CEX.io is that it is a very user-friendly platform with a wide range of features.
  • Users can buy and sell cryptocurrencies directly from their CEX.io account and use a credit or debit card to make purchases.
  • The platform offers margin trading, which allows users to trade with leverage.
  • It has a mobile app that allows users to trade on the go

Drawbacks

  • CEX.io has been involved in many controversies.
  • In 2017, the platform was accused of insider trading after it was revealed that it had sold a large amount of Bitcoin before the price crashed.
  • CEX.io has been accused of being a Ponzi scheme, and it has also been involved in several hacks.

Despite these controversies, CEX.io remains a popular choice for those looking for a user-friendly platform with a wide range of features.

10. Shapeshift

ShapeShift is a cryptocurrency exchange that allows users to buy and sell various digital assets. One of the benefits of using ShapeShift is that it offers a higher degree of security than many other exchanges. In particular, ShapeShift does not require users to create an account or provide personal information. This means that there is no risk of hacks or phishing scams.

Furthermore, ShapeShift employs a number of security measures, such as two-factor authentication and a customer support team that is available 24/7. However, some users have criticized ShapeShift for its high fees and lack of customer support.

ShapeShift is a secure and convenient way to buy and sell cryptocurrencies. However, it is crucial to know the potential drawbacks before using the exchange.

Best crypto exchanges: Summary

  • Best for begineers and best overall: Coinbase
  • Best for security: Gemini
  • Best for experience traders with Lowest Fees: Kraken
  • Crypto Exchange with Lowest Commission Fees: Binance   
  •  Best crypto exchange for savings accounts: Huobi

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