The Top 10 Best Exchanges For Trading Crypto
While cryptocurrency remains the topmost profitable business in the world today, some cryptocurrency exchanges are much more beneficial to traders than others.
Whether you’re a pro trader or a newbie, certain exchanges will enable you to make swifter trades and in turn, assist you to generate more income regardless of the coin you’re trading on.
Below are the best exchanges for trading cryptocurrency, based on user reviews.
- Coinmama — Rated best for Bitcoin trading
- Binance — Tagged as speediest & most secure cryptocurrency exchange
- BlockFi — Overall best cryptocurrency exchange (rated by users)
- Kraken — Top Bitcoin exchange
- eToro — Best for earning interest
- Crypto.com — Best sign-up bonus
- Coinbase — Helps users view exchange prices & charts
- Robinhood — Rated as lowest-cost cryptocurrency exchange
- Gemini — Best exchange for US traders
- Trade Station — Best trading options for traders
Initially, cryptocurrency was only being traded in the United States, but today the crypto market has spread to every nation of the world.
Below is some info you should know before diving into any cryptocurrency exchanges:
#1. Coinmama — Rated best for Bitcoin trading
Coinmama is an Israeli cryptocurrency brokerage and exchange, launched in 2013. It provides a convenient and safe user interface which helps brokers purchase cryptocurrency from every part of the globe.
Users rated Coinmama as a good cryptocurrency exchange service, and this rating was based on people that prefer funding their trading account with their debit card.
One of the best features of Coinmama is that it allows its users to purchase coins from assorted exchange rates.
Coinmama users also rate the security of the e-wallet as superb, showing that the users feel assured that their coins are safe. This cryptocurrency exchange platform also enables users to purchase more than 10 trusted coins at a very low price.
Features of Coinmama
Excellent Payment Methods — Coinmama allows users to use Fiat money to buy coins using their debit/credit card.
GUI-friendly platform — Coinmama uses as charts, graphs, and intelligent statistics on its interface which gives users visual effects to enable fast and easy trading.
- User-friendly interface
- Easy to buy coins with a debit/credit card
- Prices are updated in real-time
- No mobile app
- Prices are sometimes high.
#2. Binance — Tagged as speediest & most secure cryptocurrency exchange
Binance was established in 2017 and is now one of the leading cryptocurrency exchange platforms. It originated from China and currently has several offices in the United States and in some other countries too.
This year, Binance became the world’s biggest crypto exchange platform with over $76 billion being traded every day.
Binance also allows users to buy, sell, stake and store Bitcoin on the platform.
An amazing list of alternative coins — Binance has more than 100 trusted coins in their platform and users can easily convert their money from one coin to the other with just a few charges and in some cases without any charges at all.
- Wide range of trusted coins
- Powerful GUI
- Excellent security
- Verification is sometimes very frustrating
#3. BlockFi — Overall best cryptocurrency exchange (rated by users)
BlockFi is another cryptocurrency exchange platform that has a feature that enables users to lease their coins and in turn earn money with them. BlockFi also offers low-interest loans to its users.
As a crypto trader using BlockFi, all your transactions within the platform are free and you can transact as many as you can daily.
BlockFi even offers a compound interest that ranges from 3% to 8% on your cryptocurrency assets in your interest account.
Rewards Credit Card — With BlockFi, you can earn a 1.5% reward when you purchase Bitcoin in BlockFi with your credit card.
- There are no charges for commission
- No fees during deposit
- They are restricted to interest-bearing account access
#4. Kraken — Top Bitcoin exchange
Kraken was launched in 2011 and was later relaunched in 2013, due to some internal upgrades that they wanted to achieve.
Kraken has more than 50 global cryptocurrencies, which are accessible to everyone that uses this cryptocurrency exchange platform.
This amazing crypto exchange offers 3 different account types for its users. They include starter, intermediate, and pro.
Kraken has low trading fees which range from 0.9% to 1.5%, and this depends on the type of account you’re using to trade.
- Top-notch security
- Over 50 trusted currencies
- Powerful GUI
- Not recommended for beginners
- Poor customer service
#5. eToro — Best for earning interest
Launched in 2008, eToro is only active in the United Kingdom and regions of Europe.
They offer assorted digital assets which help users to trade coins more effectively; such as buying and selling on their website.
eToro allows users to trade various cryptos on the platform. This allows even a novice to trade Bitcoin successfully because there is an option that allows users to learn from experts in the field.
Very easy-to-use — The eToro site itself is quite simple and has basic fundamental operations, this includes a watchlist and other searching tools that are useful for effective trading. As of 2021, users rated this platform as the best exchange for beginners.
- Easy to use
- Deposits are restricted from some coins
#6. Crypto.com — Best sign-up bonus
Crypto.com was founded in 2016 and is a Hong Kong-based cryptocurrency exchange platform that allows users to trade, sell, buy and spend their coins.
They have very low fees, which range from 0.04% to about 0.2%. This amazing platform allows users to earn crypto while trading with them; they offer an interest rate as high as 12% when your crypto remains for 1 to 3 months.
Crypto.com offers fast and amazing customer support through live chats, phone support, emails, etc. This platform only works on mobile apps; which helps users to experience an awesome GUI (Graphical User Interface) while using the app on the go.
- Low charges
- Good customer support
- Low user privacy
- Complex mobile app
#7. Coinbase — Helps users view exchange prices & charts
Coinbase has become one of the best cryptocurrency exchanges globally. Coinbase is a San Francisco-based company that is one of the exchange platforms that started the supply of cryptocurrency-related products.
Coinbase is for every trader, ranging from beginners to advanced traders in the cryptocurrency space.
Coinbase has more than 70 trusted cryptocurrencies on their platform; this allows traders to trade with diverse coins to ensure maximum profit.
They allow for fiat deposits and payments and also have low trading fees which are about 0.5%.
Instant exchange — Coinbase has an amazing feature that allows users to instantly exchange cryptocurrencies with an easy-to-use interface.
They also allow users to use fiat while buying Bitcoin and this makes the trading process very easy.
- Low trading fees
- Currently not available in some countries.
#8. Robinhood — Rated as lowest-cost cryptocurrency exchange
Robinhood is a cryptocurrency exchange company which is based in the United States. Initially, this company started as a broker company, but as of 2018, they upgraded and started offering crypto services to their users.
Currently, this platform has 7 trusted cryptocurrencies. They also have an awesome mobile app that allows for trading through the well-arranged GUI that comes with it.
One important thing you should know about Robinhood is that they have quality security which works alongside two-factor authentication to restrict hackers from attacking users’ accounts.
- Easy to use interface
- Awesome security
- Only 7 cryptocurrencies are offered
#9. Gemini — Best exchange for US traders
Gemini is another popular crypto exchange platform that was launched in 2014 in New York. They have about 20 cryptocurrencies with more than 25 fiat currencies which a user can use to start up a trading career.
This platform gives its users 10 dollars when they sell or purchase Bitcoins that are worth $100.
- Quality security
- No deposit fees
- Limited in some countries
- Higher transaction fees