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4 Best Crypto Exchanges of 2022

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Over the past several years, cryptocurrency has grown in popularity. Thanks to relatively low fees, investors find buying and selling cryptocurrency particularly attractive. Cryptocurrency isn’t connected to any government, and it offers significant profit potential over the long term.

If you’re just getting started with investing in cryptocurrency, you may need some help navigating the exchange waters. Whether you intend to trade frequently or to purchase coins and hold them, this article recommends four of the best crypto exchanges based on exchange score, average liquidity and trading volume.

4 of the Best Crypto Exchanges

The cryptocurrency space is rapidly growing, and crypto traders need a reliable source to track their assets. CoinMarketCap is the most referenced crypto asset price-tracking website worldwide. It provides investors with well-researched, unbiased and accurate information to make the most informed cryptocurrency buying and selling decisions.

The following chart lists four of the 25 most widely used cryptocurrency exchanges according to their exchange score, average liquidity and approximate trading volume, as reported by CoinMarketCap as of June 15.

To understand how cryptocurrency exchanges are rated, you’ll want to know more about what each rating category means.

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Here’s a look at each type:

Exchange Exchange Score Average Liquidity Trading Volume
1. Coinbase Exchange 8.5 701 $3.17 billion
2. Kraken 8.2 714 $1.59 billion
3. Gemini 7.4 672 292.76 million
4. Binance.US 6.8 515 $354.23 million
Data is accurate as of June 15, 2022.

Here’s more detailed information about these crypto exchanges and why they made this list.

1. Coinbase/Coinbase Pro

Overview: Founded in the U.S. in 2012, Coinbase is one of the largest cryptocurrency exchanges around. The service is available in more than 100 countries and in all U.S. states except Hawaii.

Users can buy and sell bitcoin using their bank accounts, credit cards and debit cards. You can also use the platform to trade USD coin, a Coinbase-built stablecoin.

Customers report that rates are on par with other exchanges, but according to the Better Business Bureau, Coinbase Pro’s customer service leaves a lot to be desired.

Services and features: Coinbase’s main offering is a platform for buying and selling cryptocurrency. The exchange has a relatively good reputation and marketing strategy and a user-friendly interface.

Here are some of the available features:

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Accepted currencies and payment methods: Coinbase Pro accepts the following currencies: U.S. dollars (USD), euros (EUR), Canadian dollars (CAD) and British pounds (GBP).

Number of coins available for trade: Hundreds including bitcoin (BTC), ethereum (ETH), litecoin (LTC), ripple (XRP), bitcoin cash (BCH), EOS (EOS) and stellar lumens (XLM)

Fees:

Supported countries: Coinbase and Coinbase Pro offer services in more than 100 countries. See the website for a complete listing.

Average customer rating on G2.com: 3.9 out of 5

Best for: Traders of all levels looking for a simple yet secure way to exchange a wide variety of crypto

Pros:

Cons:

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2. Kraken

Overview: Established in 2011, Kraken is headquartered in San Francisco. It claims to be one of the largest Bitcoin exchanges in terms of liquidity and euro volume. Kraken offers an advanced crypto trading platform with over-the-counter and margin trading options.

Previously, Kraken’s unstable platform gave it a bad name. However, the exchange has redeemed itself and updated its services, focusing more on security and customer support. Additionally, its trading fees are very competitive.

Services and features: Kraken offers crypto traders an array of services on its platform, including:

Accepted currencies and payment methods: Kraken currently accepts the following fiat currencies: U.S. dollars (USD), euros (EUR), Canadian dollars (CAD), Australian dollars (AUD), British pounds (GBP) and Japanese yen (JPY).

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Number of coins available for trade: Currently over 120, including bitcoin (BTC), ethereum (ETH), litecoin (LTC), ripple (XRP), bitcoin cash (BCH), chainlink (LINK) and curve (CRV).

Fees: Among all the major Bitcoin exchanges, Kraken has some of the lowest fees. Your fees depend on your last 30 days’ trading volume and are generally based on a maker-taker basis. If you’re a maker and add limit orders to the exchange, you pay a lower fee than takers who fulfill existing orders.

Here are the details on some of the fees you might encounter:

Supported countries: Currently, Kraken is available worldwide with some exceptions, including Cuba, Iraq, North Korea and Syria, but restrictions might apply. U.S. traders, except for residents of New York and Washington state, can participate on Kraken’s exchange.

Average customer rating on G2.com: 4 out of 5

Best for: Advanced crypto traders interested in margin trading, futures and options

Pros:

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Cons:

Good To Know

Many people worldwide see cryptocurrencies as the future of money. Early adopters of crypto are also adopting major financial technological innovations such as blockchain. If you’re a new cryptocurrency investor, you too could be positioning yourself to get ahead of the crypto curve. Just be careful not to invest more than you can afford to lose.

3. Gemini

Overview: Gemini bills itself as the most trusted crypto-native finance platform. Founded by Cameron and Tyler Winklevoss in 2014, Gemini ranks No. 9 among cryptocurrency exchanges, according to CoinMarketCap. It’s available in all 50 U.S. states and Washington, D.C.

Services and features: A robust set of features has driven Gemini’s growth.

Accepted currencies and payment methods: U.S. dollars (USD), Australian dollars (AUD), Canadian dollars (CAD), euros (EUR), Singapore dollars (SGD), Hong Kong dollars (HKD).

Number of coins available for trade: Gemini offers offers over 75 coins, including bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), litecoin (LTC), zcash (ZEC) and chainlink (CHAIN).

Fees:

Supported countries: Gemini is available in 60 countries.

Average customer rating on G2.com: 3.7 out of 5

Best for: Advance traders and those who prefer a variety of financial products on one platform

Pros:

Cons:

4. Binance.US

Overview: The word Binance is a mashup of the words binary and finance. Launched by Binance, the spinoff Binance.US is one of the world’s largest cryptocurrency exchanges. Under full U.S. regulatory compliance, Binance.US offers customers in all but four states — Hawaii, New York, Texas and Vermont — the same crypto trading services loved by traders worldwide.

Services and features: Binance.US has quickly become an excellent trading platform for U.S residents because of the following features:

In addition, staking is available for AUDIO, AVAX, BNB, ATOM, LPT, SOL and GRT.

Accepted currencies and payment methods: Binance.US accepts USD only.

Number of coins available for trade: Binance.US has an extensive list of cryptocurrencies on its platform, including bitcoin (BTC), ethereum (ETH), litecoin (LTC), ripple (XRP), bitcoin cash (BCH), binance coin (BNB) and tether (USDT).

Fees: 

Supported countries: Binance.US is open to users in the United States only, except for residents of the four aforementioned states.

Average customer rating on G2.com: 3.8 out of 5

Best for: U.S.-focused crypto investors and traders

Pros:

Cons:

GOBankingRates’ Crypto Guides

Daria Uhlig contributed to the reporting for this article.

Information is accurate as of June 15, 2022.

GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack Inc., an online marketing company serving top-tier banks, credit unions and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account.

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