13 Best Crypto Exchanges and Trading Platforms of 2022 (Ranked)

Investing in crypto has never been simpler (or some might say, necessary) than it is today. In 8 short years (2012 to 2020), Bitcoin gains increased by 193,639.36%.

This has brought with it the start of dozens of exchanges and platforms that allow you to buy and sell cryptocurrency as well as trade it in a variety of forms.

However, with so many different options for crypto exchanges and NFT marketplaces, people also face confusion and misinformation when dealing with cryptocurrency.

It’s crucial to know the answer to questions such as the following:

• How can you understand which platform is best when buying and selling?
• Which exchanges should you trust?
• What crypto lending platform should you use if you want to borrow/loan out cryptocurrency?
• How much will it cost you to use the platform, and how secure is it?

For those who are new to trading crypto (or mining crypto) or lack knowledge about different exchanges, I want to make this process as simple as possible.

These are some of the best investment apps and platforms that allow you to buy, sell and trade in a variety of digital currencies, making the process of exchanging crypto for fiat currency or other digital currencies simple.

Let’s get right into it.

What Are The Best Crypto Exchanges And Trading Platforms?

The following platforms are some of the best cryptocurrency exchanges and trading platforms to use, based on their current rankings.

Without further ado, let’s get started.

1. Coinbase.

Best for beginners getting started with cryptocurrency.

Coinbase is a popular crypto exchange that makes it simple to purchase, trade, and exchange bitcoin. Trading Bitcoin is made simple on Coinbase and happens in the same way you would buy a stock through online brokerage services.

Coinbase also makes it simple to trade other cryptocurrencies on its online platform or through its mobile app. Keep track of the most popular digital currencies in one place by adding them to your watch list.

You can either decide to keep it simple or if you’re a more advanced user, you can take advantage of Coinbase’s features that are designed for seasoned traders.

No matter what you’re trying to accomplish, Coinbase has the right tools to get the job done.

Key Features:

• Coinbase currently supports a wide range of prominent digital currencies, including Bitcoin, Ethereum, and Litecoin
• Coinbase’s insurance covers Bitcoin, Ether, and other digital assets. Up to $250,000 is covered by FDIC insurance for cash balances held with Coinbase.
• Crypto assets are kept in safe offline storage – which means that your security is of the utmost importance
• The Coinbase app for Android or iOS will keep you up to date on the market fluctuations.
• Invest in cryptocurrency gradually over time by making crypto purchases in fractional amounts, rather than a lump sum.
• Coinbase Pro gives you access to more features as you become more advanced when dealing with items such as coin offerings and margin trading.

If you want to see how Coinbase stacks up against a competitor then read my Binance vs Coinbase comparison post.

Get Started With Coinbase.

2. eToro.

Best for those that want to trade crypto confidently.

eToro provides traders of all levels with a comprehensive crypto trading experience on a powerful yet user-friendly platform. This platform can be used by novices, experts and anyone in between.

In addition to being able to quickly sign up for an eToro account, the platform offers a huge range of cryptocurrencies, including altcoins and new coins that are added regularly.

Obviously, one can also trade, buy or sell the top cryptos available at the moment – including BTC, ADA, BNB, IOTA, and more.

In addition to performing various actions with cryptocurrency, one can also perform CFD trading and exchange stocks.

In this respect, not only are eToro stocks less expensive than those on other platforms, there are several additional benefits to purchasing them. These include advantages such as there being no trade commissions or limits, as well as fractional shares being available when trading.

Key Features:

• You can trade a wide range of market leader cryptocurrencies and crypto crosses (defined as having cryptocurrencies that trade in relation to different cryptocurrencies), so you can diversify your portfolio.
• Advanced charts and analysis tools are available to help you follow the fluctuations in each currency.
• Create a personal watchlist and stay up to date on the latest developments with real-time notifications.
• Use functions such as StopLoss and TakeProfit to help you control risk.

3. Robinhood.

Best for investing in upcoming IPOs.

Robinhood is a great platform for those looking to invest in cryptocurrency IPO as soon as they hit the market.

Robinhood allows you to buy stocks without any trading fees, which is a major perk for those looking to trade with low-cost stock options.

In addition to helping you purchase hundreds of different digital currencies at a small cost, Robinhood also lets you follow your favorite cryptocurrencies so that you can keep abreast of the latest crypto news.

Building a balanced portfolio is simple with the Robinhood app. Purchase individual stocks, ETFs, and indexes at will, using the currently available cryptocurrency you have in your crypto wallet.

Key Features:

• Robinhood allows you to learn how to better invest in crypto through continued education; use Robinhood’s learning environment to learn about various cryptocurrencies and potential courses of action you could take.
• Track the performance of hundreds of different digital currencies and easily add them to your watchlist.
• Keep your portfolio at hand in your wallet, so that you can invest in an ICO as soon as you hear about it
• Receive custom notifications on your phone when the price of any digital coin you are following increases or decreases significantly.

4. Kraken.

Best for crypto enthusiasts that want a safe and secure place to trade.

Kraken allows you to get started trading with as little as $10 while ensuring deposits and withdrawals are fast and secure at all times.

Whether you are a beginner, have some experience, or even someone that’s looking to invest in crypto for your firm (at the very highest level), Kraken’s easy-to-use interface will provide you with the tools needed to trade like a pro.

With crypto guides available for all new users, as well as 24/7 customer support for those with questions, Kraken is the place to go when looking for a safe and secure platform.

Key Features:

• Their massive liquidity ensures trade execution at the price you want – with spreads as tight as 1 pip – ensuring that your transactions go through at the price you want.
• Kraken provides real-time pricing data for cryptocurrencies based on CF benchmarks, allowing you to place your trades quickly.
• The Kraken Bitcoin trading platform is designed with 24/7 always-on live chat and a comprehensive help center to answer questions promptly all day.
• Kraken is a global bitcoin exchange that provides investors with a high level of security. Their staff of specialists has incorporated several complex precautions to prevent money or data theft.

Read my full comparison guide on Kraken vs. Binance for more information on these platforms.

5. Bittrex.

Best for advanced access to the top cryptocurrency markets.

Bittrex gives you the ability to trade in over 500 markets, meaning you can invest in almost any popular cryptocurrency.

Compared to other trading platforms, Bittrex is much more user-friendly and has a very clean interface. Prioritizing trading in a safe environment, Bittrex is another go-to trading platform for beginners and professionals alike.

It’s built for people who understand the potential of blockchain technology and want to be a part of the movement.

They have developed an exchange to lead the revolutionary technology, with lightning-fast trades, dependable digital cryptocurrency wallets, and industry-leading security all part of the experience one gets when trading crypto.

Key Features:

• Bittrex was designed from the bottom up with numerous layers of security. This means that your data and funds are always safe.
• Bittrex offers a comprehensive support service, designed to handle any question that you might have about the platform and how to perform any function on it.
• To enable real-time order execution under heavy demand, their trading engine was designed from the ground up for scale and speed.
• Access top coin markets with a simple click of the mouse with Bittrex’s user-friendly interface.

6. Binance.us.

Best for setting up recurring crypto buys.

Binance is a great platform when it comes to setting up recurring buys.

With an easy-to-use interface, they offer a platform that’s perfect for anyone wanting to invest in crypto. Their low fees also mean that you can buy lots of different digital currencies without worrying about large transaction costs.

Catering to both those that are new to cryptocurrency trading as well as advanced traders in the game, Binance offers something for everyone.

Institutional traders also have the opportunity to customize their trading experience with hands-on assistance, ensuring their every need is met.

Key Features:

• You may trade on your terms using a variety of cryptocurrency pairs, ensuring that you optimize the best time to buy or sell.
• Binance operates on a highly secure platform with no known breaches of sensitive data or funds.
• The interface is powerful, with real-time order books, trade references, and charting tools that enable you to make informed trading decisions.
• Stay up to date with the most recent charts and markets by integrating effortlessly with Binance US, their official API platform.

7. Voyager.

Best for earning annual rewards.

Voyager is great when it comes to earning annual rewards from your investments. With as much as 12% annual rewards, you can maximize your portfolio growth.

Earn top rewards each month on nearly 30 different digital assets by signing up with Voyager. No contracts or restrictions are required so you can leave at any time.

It’s a great platform to consider investing your cryptocurrency in, as it caters to all different types of crypto traders and investors. With low fees and unlimited investment possibilities, they’re a solid choice if you want to diversify your portfolio.

With their proprietary Smart Order Router feature, you can find and connect to the best crypto exchange services that provide you with the lowest possible price for your transactions.

Key Features:

• Voyager works with a long-term international money transfer partner that is FDIC insured so the funds you keep with them are secure at all times.
• You can relax knowing that cutting-edge technology is keeping hackers and fraud at bay which means that you can trade with more confidence.
• All assets are verified by the Voyager system to ensure that everything is accounted for.
• Offering more than 60 digital assets, Voyager enables you to invest in a variety of currencies and receive top earnings each month.

8. Crypto.com.

Best for those that want to deal on the fastest growing crypto platform.

Crypto.com was built for individuals who want to buy and sell 150+ cryptocurrencies with 20+ fiat currencies (such as USD EUR GBP), bank transfer, Paypal, or even a business credit card/debit card.

This ensures that you’re never limited when it comes to buying the currency of your choice.

Crypto.com offers an easy-to-use platform that caters to all different types of cryptocurrency investors and traders.

Their slick interface definitely helps when it comes to making trading a breeze. When it comes to value, they offer precise pricing for fast transactions, low fees on high trading volume trades, and high liquidity for large transactions.

Another benefit is that once you sign up, you can get a sleek, pure metal card, where you may earn up to 8% back on all purchases you make. This is an additional benefit for all cryptocurrency users on this platform.

Key Features:

• On Crypto.com, you can earn rewards by depositing more crypto – this means that the more you invest, the more you get back.
• In all market conditions, the firm has substantial order book liquidity, allowing you to trade fast.
• With an expansive portfolio of cryptocurrencies, Crypto.com is a solid platform to choose if you want to enjoy a wide range of currencies.
• Buy cryptocurrency at a true cost, ensuring that you get the best rates and lowest fees in the market.

Check out my review of Crypto.com vs. Binance for more information about this platform and a side-by-side comparison with Binance, another big exchange and trading platform.

9. FixedFloat.

Best for those wanting fast, cryptocurrency trading automation.

FixedFloat offers super-fast cryptocurrency exchange automation that ensures you get the best rates for your transactions. There’s no waiting time when it comes to moving funds around, so you’re not wasting time when dealing with your investments.

Use FixedFloat to exchange at the best rate possible and with no hidden fees using an all-inclusive system. Understanding the fees involved is also possible with their tool, which helps you fully assess each trade.

With no need to register for an account, you can simply start trading as soon as you are ready – no extra steps involved.

Transactions are usually completed in less than 30 minutes so that you can understand your position after each trade and move accordingly.

Key Features:

• Choose between fixed or flat rates when trading to get the best deal out of each transaction.
• FixedFloat provides a simple way to find your desired rate – simply enter the rate amount you need and receive an estimated price.
• Track your orders and get notified when a specific transaction is completed.
• To execute transactions at a quick pace, use their fully automated digital asset exchange to confirm transactions with confidence and speed.

10. Gemini.

Best for those looking for an elegant crypto buying solution.

Gemini is a registered trust company based in New York that goes through rigorous bank checks in its operations. It is also subject to the state of New York’s financial services department’s cybersecurity inspections.

This is great news for you if you’re looking for a platform with a commitment to its users’ protection. An automated cryptocurrency storage with no third-party control means you’re safe from fraud and theft.

Whether you’re an experienced trader or just getting started, Gemini has all the tools you need to buy, sell, and store your crypto.

With Gemini offering various products (such as ActiveTrader, Custody, and Cleaning), you’ll be able to find the right service at a reasonable price – all of their services are competitively priced.

Key Features:

• Gemini ActiveTrader’s interface is simple to use, and you can reach important functions quickly, maximizing the effectiveness of your trading methods.
• You can put together a crypto portfolio using their program – this makes it simple to study the cryptocurrency market, buy bitcoin and other cryptocurrencies, and decide which actions to take with your investment (both short term and even long term)
• Use Gemini Earn and set your crypto balance when investing. You may get up to 8.05 percent APY on your cryptocurrency
• Gemini Clearing® enables cryptocurrency traders to negotiate trade-offs in the order book. Gemini serves as a confirming third party in planned transactions, ensuring that settlement occurs on schedule while reducing counterparty risk.

11. ChangeNOW.

Best for allowing you to exchange crypto in 3 easy steps.

ChangeNOW allows you to swap hundreds of cryptos in just 3 easy steps – simply choose a currency, make a deposit and then get your coins

The best part is that you don’t have to create an account here before starting your transactions. This means there’s no need to give them any personal information – ensuring anonymity in the process.

If you don’t currently have a wallet, they also make creating one an easy process.

If you want to get even further, ChangeNOW also has a premium version of their service. This allows you to get access to their top help desk software service and the very best of special offers available on the market – both instant exchanges and cryptocurrency.

Key Features:

• You can use your Visa or MasterCard to buy any cryptocurrency with more than 50 different fiat currencies at ChangeNOW. You may also acquire Uniswap and Pancakeswap’s decentralized liquidity with this platform.
• You may start trading with as little as $2 and swap as much crypto as you want – there is no limit to how much you can exchange and earn.
• Each transaction takes about 5 minutes to complete which means that you can get your money within minutes, rather than having to wait hours – as used to happen with traditional payment options and methods.

12. Interactive Brokers.

Best for worldwide investments at a low cost.

Interactive Brokers are known for being an exchange platform that takes some of the lowest commissions amongst its various competitors.

For you as the end-user, this means that when using this service, you can easily make transactions with your crypto without losing a significant chunk of your funds in the process.

Their global market platform offers more than 120 markets, including cryptocurrencies – in fact, Interactive Brokers don’t only allow you to trade cryptocurrencies, but you may also invest in equities, options, futures, currencies, bonds, and funds from a single connected account.

Interactive Brokers have a powerful suite of tools that can help you improve your trading speed and efficiency, as well as perform complicated portfolio analysis.

Key Features:

• Trade assets denominated in different currencies and fund your account with multiple currencies.
• With data from multiple sources, you can access market information twenty-four hours a day, 6 days a week.
• Interactive Brokers is a browser-based platform that lets you trade Forex, CFDs, and cryptocurrencies with a level of complexity that is still simple and accessible to anybody.
• Being available on both desktops and mobile devices, you can make trades anywhere and at any time.
• Use their free trading tools to discover, analyze, manage your account, and make better judgments.

13. Pionex.

Best for using bots to help you with trading.

At Pionex, you can use the help of 16 built-in trading bots to help you make more informed decisions before choosing to invest.

It’s perfect for beginners, but it can also help experts to get the most out of the crypto market. With Pionex, you can define particular settings to trading bots on the platform.

The bots are fully automated, but if you want a finer level of control, you can also alter them to suit your preferences. With bots such as the Arbitrage Bot and the Grid Trading Bot, you’ll be able to get the most from your crypto trading 24/7.

Key Features:

• Trade with bots that analyze hundreds of pairs of currencies to find arbitrage opportunities and provide specific trade signals.
• Pionex is a secure platform that gives you all the information you need to make informed decisions, whether you’re an experienced trader or just getting started.
• Understand the tough strategies easier and trade in whatever market conditions you might face using their platform.
• From a design perspective, Pionex feels very user-friendly and modern, so it’s easy to navigate around.

Other crypto exchanges not mentioned in this article include Coinmama and BlockFi.

What Are Crypto Exchanges And Trading Platforms?

In the world of cryptocurrency, you have a variety of exchanges and trading platforms to choose from.

The most notable difference between these different options is that some are centralized, while others are decentralized.

Centralized exchanges means that there is a middleman involved when it comes to transactions. This means two things; firstly, security levels should technically be higher, and also, you’ll have to pay a fee for each transaction that occurs.

On the other hand, a decentralized exchange doesn’t require a third party to complete transactions, because there is the ability for transactions to self-authenticate and ensure that everything is as it should be.

However, this could also technically open up certain security risks that arise with there being no official verifying party.

Understanding what’s involved when trading cryptocurrency is essential to get started and be successful in the long run.

What To Look For When Choosing The Best Cryptocurrency Exchange

The following are some of the most important features that you might want to consider when choosing a crypto exchange.

Transaction Fee Structure

Before choosing an exchange, it’s important to know exactly how much you’ll need to pay when making trades on the platform.

Transaction fees are created by the exchanges themselves and charged on every trade that you make, but they vary according to what cryptocurrency you’re using.

For example, if you use Bitcoin (BTC), then transaction fees for this coin will be different from those of Ethereum (ETH) or Litecoin (LTC). These differences can also alter depending on whether you’re trading BTC/U.S. dollars or another pairing.

You should always research the transaction fees before signing up for an exchange to avoid any unpleasant surprises later on.

Liquidity levels on trading pairs.

One of the reasons why it’s always better to use a cryptocurrency exchange instead of trading between peers is because you’ll be able to take advantage of high liquidity levels.

Liquidity refers to how easily you can sell digital currencies or even buy certain cryptocurrencies and, therefore, it’s an important factor to consider before making any decisions.

When trading on slower exchanges with lower liquidity, there might not be many people looking for the pairing that you’re interested in. In these cases, you could end up trying out different strategies for hours without ever finding someone willing to trade.

However, if you find an exchange that provides high liquidity across all or most of its supported trading pairs then this shouldn’t be a problem.

Some examples of exchanges with great liquidity levels are Binance and Kraken.

Supported cryptocurrencies and trading pairs

The more trading pairs that an exchange offers, the better it is for users looking to diversify their portfolios.

Trading between different coins will allow you to maximize your gains while minimizing the risk associated with any one coin’s price fluctuations.

There are some platforms that support trading from crypto to crypto. This could include exchanges between Bitcoin (BTC), Ether (ETH), Litecoin (LTC), or any of the other cryptocurrencies.

However, there are also exchanges that only offer crypto to fiat currencies. This could include BTC/USD and ETH/USD. The selection available could also depend on the country in which the crypto exchange account is allowed to operate.

When choosing an exchange, try to find a platform that supports as many currencies as possible to make things easier for you.

Trading Interface

User-friendly interfaces are always preferable because they make trading feel more natural and familiar, especially if you’re new to the crypto industry. The best way to go about this is by simply trying out a demo or live version of the exchange.

If there’s not enough progress on your part after some time, then it might be time to switch exchanges and give another one a shot – even if it means losing some money in the process. Long-term, finding a platform that you’re comfortable working with is key.

Jurisdiction

Many cryptocurrencies require their users to follow KYC (Know Your Client) and AML (Anti Money Laundering) rules which can become expensive at times, especially when using multiple cryptocurrencies.

The best way to avoid expensive transactions is by using an exchange that originates from a country that doesn’t require users to go through KYC or AML.

Decentralized exchanges are also a great choice because they don’t require any type of KYC procedures and keep your privacy intact.

However, it should be noted that decentralized exchanges usually have low liquidity and suffer from different security vulnerabilities which can result in the loss of all your funds.

Picking an exchange with good support is another excellent way to avoid issues when trading cryptocurrencies. This means having access to tutorials before signing up for an account or finding enough information about the various features hosted on such platforms are two things that you should look out for.

Margin and Futures trading

Some exchanges such as Deribit offer margins and futures trading which allows users to trade contracts instead of an underlying asset (i.e BTC/USD, BCH/USD).

Both of these types of trading are a great way for beginners to invest in cryptocurrencies because they provide more liquidity and let you avoid the volatility that comes with regular exchanges.

However, keep in mind that as with all types of trading, these methods also mean that you are dealing with cryptocurrency risk. This is something to keep in mind as you try out different types of trades.

Always remember that cryptocurrencies don’t have any type of insurance so there’s no safety net if things go south.

Most of the top exchanges let users open short and long positions using futures contracts as opposed to borrowing cryptocurrency from another account. This is a great option for those who want to invest money without having to buy the actual asset.

Customer support quality

Finally, you should check out reviews from other users before moving your funds between wallets and exchanges.

Most platforms offer live chat software and support so that users can get in touch with company representatives at any given time – this is an excellent way to avoid spending hours trying to figure out the answer to an issue when this arises.

Best Crypto Exchanges and Trading Platforms – FAQ

What is peer-to-peer trading?

Peer-to-peer (P2P) trading is a platform where users can interact and trade cryptocurrencies without the assistance of an intermediary.

Bitquick, Paxful, and Localbitcoins are some examples of P2P services. In a way, they work in the same way as an eCommerce platform by allowing buyers and sellers to connect directly and conduct transactions with each other using a variety of payment methods.

What does staking mean in crypto?

Staking lets users “stake” their coins to receive a reward.

Specifically, users will need to deposit their cryptocurrency on the network and leave them there for a certain amount of time. In return, they’ll receive more coins proportional to the amount of money staked. This makes it seem like an interest-bearing account.

What are some current coins that you can trade?

While available coins are constantly being added, removed, and updated, some very popular ones include Bitcoin, Bitcoin Cash, XRP, Dogecoin, and Ethereum.

There is also the concept of stablecoins which are the closest thing to the actual U.S. dollar in the cryptocurrency world.

These coins are backed by cash reserves, which makes them less volatile than other coins on the market. Tether (USDT) is one example of a stablecoin that allows users to store and trade fiat money without having to convert their cryptos into dollars.

What is cold storage and why is it important in crypto?

Cold storage is the process of keeping cryptocurrency offline to protect wallets from being hacked or compromised.

While there are different types of cold storage, they all revolve around the same idea – keeping your coins away from internet-connected devices. The concept’s security only works if you only store your crypto wallet offline.

The use of private keys is also an effective way of keeping your coins safe.

Speaking of security, two-factor authentication is something that you should always keep enabled when dealing with cryptocurrencies. This will help avoid identity theft and hacking attempts.

Wrap Up.

Understanding what a crypto exchange and trading platform has to offer is crucial before signing up for a new account.

It’s easy to get carried away and start using a random platform you found online but it’s always smarter to pick a trusted name with plenty of positive reviews – especially if you’re not familiar with the cryptocurrency industry as a whole.

To summarize, the best crypto exchanges and trading platforms to consider are:

• Coinbase: Best for beginners getting started with cryptocurrency.
• eToro: Best for those that want to trade crypto confidently.
• Robinhood: Best for investing in upcoming IPOs.
• Kraken: Best for crypto enthusiasts that want a safe and secure place to trade.
• Bittrex: Best for advanced access to the top cryptocurrency markets.
• Binance.us: Best for setting up recurring crypto buys.
• Voyager: Best for earning annual rewards.
• Crypto.com: Best for those that want to deal on the fastest growing crypto platform.
• FixedFloat: Best for those wanting fast, cryptocurrency trading automation.
• Gemini: Best for those looking for an elegant crypto buying solution.
• ChangeNOW: Best for allowing you to exchange crypto in 3 easy steps
• Interactive Brokers: Best for investing at a low cost worldwide.
• Pionex: Best for using bots to help you with trading.

Be sure to let us know your top picks in the comments below. If you’ve never traded before, which one are you considering using? If you have, which one do you use? Comment below!

Further reading on AdamEnfroy.com: Want to learn about the factors to consider when dealing with crypto tax implications? Have a look at this list of the best crypto tax software right now.

In addition, if you’re considering buying NFTs but are not sure how to get started, check out my post on how to buy NFTs right now.

Finally, when you’re ready to take advantage of the latest NFT trend, check out my post on buying digital real estate to learn more about what it means to buy virtual property.

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Last Updated on February 28, 2022 by Adam Enfroy